The NBS Head Office Building was built from 1888 – 1890, on the basis of blueprints designed by Konstantin Jovanovic (Vienna 1849 – Zurich 1923), son to distinguished artist Anastas Jovanovic...
Prompted by a number of advertisements offering electronic FX trading services to the public, the NBS wishes to underline once again that under the Law on Foreign Exchange Operations, natural and legal persons may trade in foreign exchange with banks only, while foreign cash may be bought and sold in banks and authorized exchange offices without any restrictions. This means that trading in foreign exchange with a person other than a bank is prohibited and punishable by law.
In addition, pursuant to NBS Decision on the Performance of Financial Derivative Transactions, resident legal and natural persons may engage in financial derivative transactions involving FX payments only through banks and subject to compliance with other requirements laid down in the Decision. It has been observed, however, that some electronic trading services are falsely advertising themselves as multilateral trading facilities and do not trade in standardised financial derivatives.
Please note that forex trading through online platforms exposes legal and natural persons to multiple risks. A successful investment in the foreign exchange market requires advanced knowledge and years of experience. Lacking these, one can easily lose most or all of the assets invested. Trading via FX platforms often means doing business with persons based abroad over whom the NBS has no authority. It is important to note that “trading” services offered by some electronic platforms are practically a betting experience involving no transfer of ownership, which exposes our citizens to a further risk that the platform organisers, as a rule non-residents, will not perform their obligations.
Therefore, citizens are well advised not to be blinded by the promises of high rates of return which usually involve the risk of substantial losses, but to bear in mind the importance of informed investment decisions and the risks those investments entail.