At the moment, there is only one institution monitoring the financial sector of Angola. It is the National Bank of Angola (BNA) which has numerous functions. The bank is responsible for ensuring the preservation of the national currency value and introducing and controlling all the monetary and financial policies and exchange rate policies and foreign exchange trade. The bank is actively participating in combating money laundering and scam activities and works hard to deliver a safe and reliable environment for investors, including Forex traders.
At the moment, there are no local Forex brokerage firms from Angola. Most of the traders choose the best Forex brokers in Angola that operate internationally. Notably, the Angolan traders choose brokers that are regulated by the regional market authority – the Financial Sector Conduct Authority in South Africa (FSCA), which is the trusted regulator of traders from Nigeria, Tanzania, Uganda, and many more.
Forex earnings in Angola are taxed under Investment Income Tax, Section B according to which the income received through trading with financial instruments should be taxed at 15%. However, there is an exception on capital gains on bonds, securities, and other financial instruments that are traded on regulated markets and have the maturity of at least three years. In such a case, the tax rate is 5%.
Angolan national currency Angolan kwanza (AOA) is not a Forex tradable asset. Therefore, local traders would not be able to invest in AOA Forex assets. The currency was pegged to USD until 2018. So there is hope that someday Angolan kwanza might appear on the exotic currency pairs list. Until then, Angolan investors enjoy trading with regional currencies, such as the South African rand (ZAR), which is very likely to be found with most of the leading brokerage companies in Angola.
Angolan traders can use most of the popular payment options with the best Forex brokers in Angola. The list of available payment solutions includes traditional payment systems like credit/debit card payments and bank wire transfers. Furthermore, many online payment methods are supported by these brokers, such as PayPal, Skrill, M-Pesa, and Neteller. Brokers will not charge deposit or withdrawal fees, however, payment services providers might incorporate certain costs.
There are several components according to which the broker is identified as the best on the market. The criteria include regulations, trading conditions, cost-efficiency, reliability, promotions, and many other features. We highly recommend that Angolan Forex traders look for the brokers that are authorized by the Financial Sector Conduct Authority in South Africa (FSCA). Trading with FSCA-approved brokers means that the funds of the trader, as well as the personal data, are strongly protected. Below is the list of the leading brokerage firms with FSCA regulation or similar licenses from other international authorities that offer their services to traders from Angola.
CySEC, FCA, ASIC
MT4, MT5, WebTrader
CySEC, CBI, FSA, FFAJ, BVI FSC, FSCA, FSRA
MT4, MT5, WebTrader, AvaTradeGO
SVGFSA, FCA, DFSA, FSCA, FSA
From 30% to 100%
Risk Warning: YOUR CAPITAL MIGHT BE AT RISK
FCA, CySEC, FSA
MT4, MT5, WebTerminal
ASIC, CySEC, FSA, BVI
WebTrader, MT4, TradingView
ASIC, SCB, CMA, CySEC, FCA, BaFin and DFSA
MT4, MT5, cTrader, TradingView
FCA, CySEC, DIFC, CIMA
WebTrader, MT4, MT5, IRESS
MT4, MT5, WebTrader
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The only market regulator in the country is the National Bank of Angola (BNA). The BNA operates under the main legal source on Angolan Foreign Exchange regulation – Lei No. 5/97 of 27 June 1997. This Foreign Exchange Law is what regulates both the foreign exchange operations and the Forex trading market in the country. The law defines the relationship between any financial entity either registered locally or globally and Angolan residents and transactions occurring between them. The law also requires that any company intending to get involved within the foreign exchange operations makes an Angolan financial institution (BNA) as an intermediary.
However, despite the market being closely monitored by the National Bank of Angola, it is still in no perfect shape for reliable local brokerages to exist in the country. The reason is the fact that the bank does not pay enough attention to the specific type of the market. That is why most Forex traders in Angola will prefer to trade with international brokerage companies that hold licenses from regional market regulators.
Depending on where do you live you can find the regulatory authority in every corner of the world. If there is no regulatory body in your country of residence, go for the one that regulates other countries in your region. In the case of Angola Forex traders, we recommend choosing the brokers that are regulated by the Financial Sector Conduct Authority (FSCA). The Financial Sector Conduct Authority is a financial regulator based in South Africa and is recognized worldwide as one of the most reputable regulatory organs. Most of the leading brokerage firms will hold a license from the FSCA.
Trade with FSCA-regulated broker XM
Forex traders who make money through trading might be subject to local taxes ranging from 5 to 15%. Whenever they earn a specific amount of profit through trading Forex their income will be taxed by the government of Angola. The taxes should be paid for a financial year. The traders have to fill the legal forms even in case of losing their funds while trading. There is a special governmental agency that controls all the tax receipts and payments of the citizens and the traders who do not file their incomes might get fined. A corporate tax rate in Angola is 30%, but this only applies to employment income. Investment Income Tax (IIT) has a 15% rate with few exceptions where traders have to pay 5% tax. In most cases, Forex traders need to pay 5% as an IIT. The tax is levied on 70% of the total gross income.
Angolan kwanza (AOA) cannot be found within the list of tradable Forex assets. It was an unpopular instrument previously due to the peg to the United States dollar. Even though the peg was ditched in 2018 by the decision of the National Bank of Angola, the demand for the currency has not increased much since then. That is why kwanza is not among the minor or exotic currency pairs within the Forex industry. However, many Angolan traders will instead go for the popular regional currencies, especially the South African rand.
South African rand (ZAR), can be found with the majority of the top Forex brokers Angola. ZAR appears within the exotic pairs list often being traded against USD, EUR, or GBP. Some other variations might also be included depending on the size of the broker’s Forex instruments portfolio.
There is no cap on leverage for Angolan Forex brokers. Despite the fact that the National Bank of Angola regulates banking and monetary exchange sectors it does not restrict Forex trading or trading in any of their financial markets. Traders can highly benefit from the loosely regulated market with fewer restrictions. They can enjoy high leverages that could come in handy with trading with familiar financial instruments and lower-risk assets. However, leverages contain great risk, as well.
Since leverage is much like a borrowed fund from the broker, many regulatory authorities will restrict its usage. That is where leverage caps appear. For instance, in Europe brokers are not able to offer leverages higher than 1:30. However, some of the liberal regulators will allow leverage levels to hit 1:200. In the regions, where market regulators do not impose leverage caps, the maximum leverage can go up to 1:2000 even. However, none of the regulated brokers will ever offer 1:2000, since it is extremely risky for every kind of trader.
Forex traders in Angola can access numerous payment solutions ranging from traditional payment methods to innovative online payment systems. The most common ways of deposit and withdrawal in Angola are bank wire transfers and credit/debit card deposits via Visa/Mastercard. However, recently the modern online solutions gained huge popularity. Many Angolan traders have accounts with famous payment platforms such as PayPal, Skrill, and Neteller. That is why the great majority of the Forex brokers will include these three platforms on their websites.
The absolute favorite payment method on the African continent is M-Pesa. M-Pesa is an innovative payment system that was designed to be extremely user-friendly and simplistic. The payment method can be used as a mobile wallet for storing the funds or paying for various services. More and more brokers are incorporating the method, especially the best Forex brokers Angola that hold regional licenses in Africa.
Forex scams in Angola are quite common, unfortunately. Notably, the Forex WhatsApp scams and bitcoin-investment-related frauds are what caused hundreds of thousands of USD losses among the Angolan Forex traders. People will often get contacted through WhatsApp, or they will come across an online promotion for a WhatsApp group of traders which eventually appears to be a common scam. These “brokers” will have fake websites where everything seems to operate just fine. However, as soon as you try to withdraw your funds with the unregulated brokers, you find it impossible.
Unfortunately, the National Bank of Angola cannot do much in this case. Even though the bank is investigating each and every case reported to the authority concerning the fraud it cannot guard every single individual planning to start Forex trading in Angola. That is why the only way to avoid getting scammed is to do research on the broker and make sure that it is regulated by at least one official regulatory authority.
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