Economy
Traders Union Has Reviewed The Best Forex Brokers In Romania For 2023
Choosing the right broker is essential for trading in financial markets, impacting the security of funds and potential earnings. Discovering the ideal Forex broker in Romania, particularly for traders using the native currency, the leu can be challenging. Traders Union (TU) experts have simplified this task by reviewing the top investment brokers available in Romania for 2023. Their comprehensive article offers valuable insights to help you find the most suitable broker in Romania based on your requirements and preferences.
Top brokers for Forex trading in Romania
For Romanian traders looking to invest in the Forex market, choosing the right broker is essential. TU’s analysts have reviewed the best Forex brokers in Romania for 2023, providing valuable insights to help you make an informed decision.
- RoboForex: with a diverse range of trading instruments and advanced technologies, it offers various account types, including a Swap-Free account for traders adhering to Islamic financial principles. The broker also provides market-leading insurance and negative balance protection.
- IC Markets: a trusted Australian-based broker, it offers over 2250 trading instruments, competitive spreads, and multiple regulatory oversight. The broker also provides a Swap-Free account for traders complying with Sharia law.
- FxPro: known for its advanced trading tools and diverse account types, it offers access to over 2100 trading instruments and ensures top-tier liquidity and negative balance protection for traders.
- Pocket Option: offering over 100,000 active users in various countries, it provides commission-free trading, a variety of payment methods, and fast fund withdrawals, making it accessible to traders worldwide.
- Libertex: with a comprehensive range of trading options, it offers access to a wide array of assets, including CFDs on commodities, Forex, ETFs, and cryptocurrencies. The platform boasts quick withdrawals and a user-friendly interface.
Choose the best Forex broker in Romania based on your preferences and trading requirements, ensuring a secure and reliable trading experience.
Limitations of Forex trading rules in the EU
Experts at Traders Union stressed the importance of understanding the specific regulations that govern CFD trading in Romania, considering its membership in the European Union. The European Securities and Markets Authority (ESMA) has established several limitations to safeguard the interests of retail clients. These rules include a ban on offering bonuses or incentives by Romanian Forex brokers and mandatory negative balance protection provisions to mitigate potential losses. It is also prohibited to close open CFDs for clients at 50% of the minimum required margin, according to ESMA guidelines.
Tips for choosing the right Forex broker in Romania
According to TU’s experts, tips for selecting the appropriate Forex broker in Romania involve considering such key factors:
- Regulation: look for brokers regulated locally or compliant with European standards to safeguard your funds and data.
- Trading costs: keep an eye on spreads, commissions, and swaps, as these expenses directly impact your profitability.
- Account types: opt for brokers offering diverse account options that suit your specific trading objectives and preferences.
- Tradable assets: ensure the broker provides a variety of assets that align with your trading goals, even if the selection isn’t extensive.
- Execution speed: prioritize brokers with fast and reliable trade execution to seize opportunities in the dynamic Forex market.
Conclusion
Selecting the right Forex broker is crucial for securing funds and potential earnings in financial markets, particularly in Romania. Traders Union analysts have simplified this process by reviewing the top brokers for 2023. These brokers offer diverse account options and advanced technologies to ensure a secure and reliable trading experience. Furthermore, it’s essential to understand the limitations imposed by the European Securities and Markets Authority (ESMA) on CFD trading in Romania.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) says the rollout of electronic invoicing (e-invoicing) will strengthen tax compliance, curb revenue leakages and improve transparency in tax administration as it moves to fully digitise the country’s tax system.
The Project Lead for the NRS e-Invoicing Project, Mr Mohammed Bawa, stated this at the DigiTax E-Invoicing Compliance Breakfast Session held in Lagos on Wednesday.
The event, organised by DigiTax, an NRS-accredited e-invoicing platform, formed part of efforts to support the agency’s ongoing education and sensitisation campaign on the e-invoicing mandate.
Mr Bawa said the initiative aligns with global trends in tax digitisation and is expected to help improve Nigeria’s tax-to-GDP ratio, which remains one of the lowest in Africa.
According to him, the system will provide the NRS with greater visibility into transactions across sectors, formalise activities within the informal economy and standardise invoice formats nationwide using globally recognised invoice schemas.
He added that e-invoicing would improve operational efficiency for both businesses and tax authorities while supporting the NRS’ transition from manual and electronic tax administration processes to a fully automated system-to-system interaction model.
Mr Bawa noted that the legal framework for implementation is backed by the Nigeria Tax Administration Act, which prescribes penalties for non-compliance.
He disclosed that the NRS has completed onboarding large taxpayers and is preparing to enforce compliance with defaulting entities.
According to him, medium taxpayers are expected to begin compliance in the third quarter of 2026, while onboarding of emerging taxpayers will commence in 2027, with full adoption targeted for all taxpayers by the end of 2028.
Mr Bawa urged taxpayers yet to be onboarded onto the platform to begin the process and work with accredited service providers to ensure compliance.
On his part, Country Director of DigiTax Nigeria, Mr Olumide Akinsola, urged businesses to look beyond their internal systems and assess the compliance status of suppliers and counterparties.
He warned that businesses whose suppliers fail to transmit invoices through the MBS platform risk losing eligibility to claim Value Added Tax (VAT) input credits on such transactions, describing the resulting supply chain exposure as a significant commercial risk that many organisations have yet to quantify.
Mr Akinsola also announced the launch of DigiTax’s white paper, The State of E-Invoicing Readiness in Nigeria, which examines compliance adoption trends and the readiness gap across different taxpayer segments.
He added that DigiTax operates in Nigeria, Kenya, Zambia and the United Arab Emirates (UAE), noting that experience from those markets shows businesses that integrate early are better positioned to avoid disruptions when enforcement begins.
By Aduragbemi Omiyale
The names of about 100,000 companies registered by the Corporate Affairs Commission (CAC) are about to be deleted for inactivity, especially for failing to file their annual tax returns, Business Post reports.
This information was disclosed by the CAC via a notice signed by its management on Wednesday, July 15, 2026.
The list contains organisations like the Nigeria-Poland Chamber of Trade Invest Ltd, Alariwo of Afrika Ltd, Ovation Sports International, First Union Pension Fund Administrators, Investopedia Limited, Baptist High School Abuja Ltd, and Yobe Aluminium Manufacturing Industries Ltd, amongst others.
In the statement, the commission said its decision to strike off the names of the affected firms from the register aligns with the provisions of Section 692(3) (3) and (4) of the Companies and Allied Matters Act (CAMA), 2020.
However, the affected companies can still salvage the situation by filing all outstanding annual returns and regularising their records within 90 days.
“Please note that companies that fail to comply within the stipulated timeline shall be struck off the register without further notice,” it declared, expressing its continued commitment to providing prompt and efficient registration and regulatory services to the satisfaction of its valued customers.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange gained 1.75 per cent on Wednesday, July 15, pushing the NASD Security Index (NSI) up by 74.20 points to 4,316.51 points from 4,242.31 points, as the market capitalisation added N44.54 billion to finish at N2.590 trillion compared with the preceding session’s N2.546 trillion.
During the session, there was an 11.5 per cent rise in the value of transactions at midweek to N72.7 million from the preceding session’s N65.2 million, as there was a 3.7 per cent growth in the number of deals to 28 deals from the previous session’s 27 deals, while the volume of securities slumped by 64.5 per cent to 4.9 million units from 13.7 million units.
At the close of trades, Great Nigeria Insurance (GNI) Plc ended as the most active security by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, with the second spot occupied by Infrastructure Credit Guarantee (Infracredit) Plc after selling 2.3 billion units valued at N6.5 billion, and the third position was taken by Central Securities Clearing System (CSCS) Plc, which exchanged 74.3 million units for N5.3 billion.
GNI Plc also finished the trading day as the most traded stock by volume on a year-to-date basis, with a turnover of 3.4 billion units traded for N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
Business Post reports that the market breadth index was negative yesterday, as there were two price gainers and three price losers.
11 Plc added N22.36 to its value to close at N250.00 per share versus N227.64 per share, and CSCS Plc improved by N7.95 to N90.35 per unit from N82.40 per unit.
On the flip side, FrieslandCampina Wamco Nigeria Plc lost N1.37 to end at N150.00 per share versus N151.37 per share, UBN Property Plc depreciated by 6 Kobo to N1.75 per unit from N1.81 per unit, and Food Concepts Plc dropped 1 Kobo to close at N2.49 per share versus N2.50 per share.
