Forex trading is more or less legal in any country that has currency. There are, however, many countries that brokers choose for legal reasons not to allow accounts from. The most common of these countries include: Belarus, China, India, Iran, Saudi Arabia, Canada, Pakistan, South Korea, Japan, Turkey, and the U.S. In the case of the U.S. and Canada, Forex is in no way illegal, but they do have very strong regulations on what is allowed. In the case of Japan, they have rules forbidding Forex traders from using brokers who are not registered in Japan. China, India, South Korea, and Turkey have similar rules.