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Forex trading is legal in Zambia. However, since the Bank of Zambia (BoZ) does not currently regulate Forex brokers, Zambian residents will have to trade with licensed brokers based overseas. Even though the Zambian Government has no laws governing the legality, the BoZ controls international monetary exchange, overseeing outgoing cash flow from the country.
Therefore, Zambian Forex traders must comply with financial regulations to prevent money laundering (see more below) and ensure their income is properly declared for taxation to the Zambian Revenue Authority (ZRA). For more specific information on Zambian tax legislation, please consult a registered tax practitioner or the Zambian Revenue Authority.
Banks and financial institutions globally have signed up to a program called KYC. It is a law set in place to stop money laundering by anonymous actors. When you sign up for a Forex trading account, and before you will be allowed to make a deposit, you will need to complete your KYC documentation. It requires you to submit:
If you are unsure about the reliability of your Forex broker, you can use our Broker Trust Checker. If you believe you have been scammed by your broker, the first thing to do is contact the BoZ. You can contact and read more about the BoZ complaints department here, and they can advise you on the next steps. We also have a report a scam broker form, which we use to gather information so that we can spread the word. Your personal details will not be shared externally.
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Partner Manager and Financial Writer
Chris Cammack is partner manager and senior financial writer at FxScouts, specialising in broker relations and forex market analysis. As the former Head of Content (2019–2024), he set editorial standards for all content published at FxScouts, including broker reviews, broker comparison pages and education.
With over a decade of experience in editorial management and partner relations, Chris builds and maintains our relationships with our partners to provide the best Forex trading experience for our users.
He also co-hosts the “Let’s Talk Forex” podcast with Alison Heyerdahl, where he explores trading strategies, industry news, and macroeconomic trends to help traders navigate the markets with confidence.
Head of Content
Alison joined the team as a writer in 2021. She is the Head of Content for FxScouts. She has a medical degree with a focus on physiotherapy and a bachelor's in psychology. However, her interest in Forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, "Let's Talk Forex", alongside Chris and has produced over 100 Forex educational videos for the FxScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 120 Forex brokers.
Financial Writer
Ida is a financial writer with a degree in Digital Marketing and a strong background in content writing and SEO. Her expertise extends beyond marketing and writing, with a keen interest in cryptocurrencies and blockchain networks. Ida's passion for crypto trading sparked a deeper fascination with Forex technical analysis and price movement. She is continually expanding her knowledge in Forex trading, staying informed about the latest trends and identifying the best trading environments for new traders.
Financial Writer
