Best forex brokers in Norway reviewed by TradingPedia.com. Find out where to trade currency, stocks and commodities in Norway. Nearly all remaining exchange regulations have been lifted by Norway’s government since 1990. In spite of the fact that any foreign currency that is locally held must be converted into krone within 30 days, most non-residents can skip this regulation and keep their money up to one year.
Another advantage of non-residents is they can hold in local their foreign currencies or demand deposits without any restrictions. On the other hand, residents might freely have bank accounts abroad and get the needed information at any time.
Probably this is why many investors prefer Norway when it comes to Forex trading. There are no exchange controls regarding payments for dividends, royalties, branch profits and service fees. In case there is a doubtful case – it is referred to the central bank for approval or rejection.
However, Norway don’t offer any guarantees against incontrovertibly. It is highly unlikely this to create any problems simply because Norway’s monetary system and political situation is more than stable.
Best Forex Brokers in Norway
When it comes to capital repatriation, it is required to notify the central bank for tax purposes. Otherwise, interest and contractual amortization on loans, business profits, dividends and mortgages can be fully and freely remitted.
The central bank – Norges Bank, recently issued a directive which revised many regulations for any payment made within the EEA (European Economic Area) in euros and local currencies to any medium and small sized companies located in Norway. The new rule have one purpose – to align the system of Norway and provide additional protection in case any errors occur.
Another important thing that this directive provides is concerning the interest. It should be credited if delayed or missing. The directive states that every bank must provide more information to their clients because there are not many people who are familiar with forex trading and the current economic situation.
The liquidity of the market is good, and thus the interest of foreign investments – high. Here is a list of some brokers that can be used by citizens of Norway or people who are just living there temporary;