Is forex trading legal in Zambia?

Not legal advice. Below are the regulators’ own words, quoted from their official pages on the dates shown. Laws and rules change: check the regulator’s site before you open an account.

By Wealth.cat editorial team Facts verified on October 28, 2026

In Zambia, the Securities and Exchange Commission (SEC) is the licensing authority for capital markets and securities business intermediaries under the Securities Act. It publishes lists of the capital market operators it has licensed on its website.

The quotes below come from two SEC texts. The first is the statement “Who Is Required To Be Licensed?” on the SEC’s Find A Licensee page (undated). It names dealing in securities, collective investment schemes, derivative products and investment advisory services among the activities that require a licence, and it describes the risks of dealing with unlicensed service providers. The second is an SEC public notice on foreign securities offerings and cross-border investments, dated 18 September 2026. It covers what any issuer, intermediary or other person, local or foreign, needs from the Commission before promoting securities to the public in Zambia, and what the SEC says about investments made through a foreign broker or platform that it has not licensed, registered or authorised.

Neither text mentions forex or contracts for difference (CFDs) by name. The quotes are in their original language, English.

Before you open an account, check whether the firm appears in the SEC’s lists of licensed capital market operators (link below).

What the regulator says

As the regulator and supervisor of the capital markets and securities industry in Zambia, the SEC hereby informs the investing public that it is a requirement of the Securities Act for all financial intermediaries conducting securities business such as dealing in securities, collective investment schemes, derivative products, providing investment advisory services, and any similar activities in Zambia to be licensed unless such intermediaries are exempt by law.

Securities and Exchange Commission, Zambia (SEC Zambia) · October 28, 2026 · Source
Engaging with unlicensed service providers is at your own risk and may expose you to fraud, financial loss, or unenforceable investments.

Securities and Exchange Commission, Zambia (SEC Zambia) · October 28, 2026 · Source
Accordingly, any issuer, intermediary or other person, whether local or foreign, that intends to market, promote, advertise, solicit investments in, arrange or facilitate the offer, sale or subscription for securities to the public in Zambia must comply with applicable Zambian securities laws and ensure that all required registrations, licences, authorisations or approvals have been obtained from the Commission before undertaking such activities.

Securities and Exchange Commission, Zambia (SEC Zambia) · October 28, 2026 · Source
However, where an investor acquires foreign securities from a foreign issuer, through a foreign broker, platform or other arrangement that is not licensed, registered or authorised by the Commission, that investment may fall outside the Commission's direct supervisory and investor-protection framework. It is important to emphasise that such a foreign issuer, broker or agent would not be permitted to advertise, solicit or introduce foreign securities to Zambians or residents in Zambia unless the securities and the agent are authorised to do so by the Commission.

Securities and Exchange Commission, Zambia (SEC Zambia) · October 28, 2026 · Source

Regulators and registers

Securities and Exchange Commission, Zambia (SEC Zambia) · Register of licensed firms

What this means on Wealth.cat

We do not show offers from forex and CFD brokers to visitors from Zambia.
We show prop firm offers to visitors from Zambia.

This is our own advertising policy, not a statement about what the law allows.

Is forex trading legal in Zambia?

What the regulator says

Regulators and registers

What this means on Wealth.cat

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