The Bank of Ghana (BoG) has started 2025 with measures aimed at ensuring transparency and stability in the country’s foreign exchange market. By releasing its annual list of Approved FX brokers in Ghana and setting operational guidelines, the central bank reinforces its role in maintaining order in the market.
The BoG has approved 15 brokers for this year, comprising both local and international firms. The Approved FX brokers in Ghana are IC Securities, SIC Brokerage, Black Star Brokerage, Serengeti Limited, Obsidian Acherner, Regulus, Sarpong Capital, Terika Financial Services Ltd, Laurus Africa, Shadeya International Investments Ltd, Savvy Securities, GFX Brokers, Crown Agents, CSL Capital, and StoneX Financial Limited. These brokers are expected to meet the requirements laid out by the BoG.
Brokers are required to submit trading reports twice daily—at mid-day and the end of the trading day. These reports must include details on pricing and transaction volumes, ensuring that the BoG has a clear view of market activity. Additionally, brokers are prohibited from embedding commissions into spreads or engaging in speculative practices, ensuring that pricing reflects real transactions. These guidelines apply to all Approved FX brokers in Ghana.
For cross-border payment providers, strict measures have also been put in place. Providers are limited to working with a maximum of five partner banks for forex flow termination, and their pricing must align with market realities. These controls aim to stabilize the market and prevent price manipulation. It is important to work with Approved FX brokers in Ghana to ensure compliance with these regulations.
