Superintendencia Financiera de Colombia

Following official confirmation via email from the Superintendencia Financiera de Colombia (SFC), the regulatory role of the Colombia SFC regarding Contracts for Difference (CFDs) and foreign exchange (forex) brokers is clarified as follows:

1. Regarding Contracts for Difference (CFDs):

CFDs are not recognized as a valid financial instrument under Colombian law. There is no applicable legal or regulatory framework for CFDs in Colombia. As such, no authorized financial intermediary is permitted to offer CFD products to clients. Any entity offering CFDs operates outside the legal system and may be subject to enforcement actions by the Colombia SFC for engaging in unauthorized financial activities.

2. Regarding Foreign Exchange (Forex) Trading:

Forex trading is regulated under Article 66, Paragraph 2 of Law 964 of 2005, which defines "foreign exchange trading" (negociación de divisas) as a regulated activity.

The Banco de la República (Central Bank of Colombia) holds primary responsibility for regulating the foreign exchange market, and the Colombia SFC does not directly authorize or license forex brokers. Instead, it exercises supervisory and inspection functions over financial institutions under its jurisdiction that participate in the forex market.

This means that forex transactions can only be conducted through intermediaries specifically authorized by the Banco de la República, and all activities must comply with the regulatory framework established by the central bank.

Please be aware that the Colombia SFC website is currently available only in Spanish.

1. Navigate to the official Colombia SFC website at https://www.superfinanciera.gov.co/.

2. On the homepage, locate and click on the link labeled "Entidades vigiladas y controladas" (Entities Supervised and Controlled).

3. Scroll down the page and find the section titled "Entidades vigiladas por la Superfinanciera" (Entities Supervised by the Superfinanciera). Click on this link to proceed.

4. Look for the entry named "Lista general de entidades vigiladas por la Superintendencia Financiera de Colombia" (General List of Entities Supervised by the Superintendencia Financiera de Colombia).

5. Click on the link for the general list. You will be presented with options to download the list in either Excel or PDF format. Choose your preferred format and download the file.

6. Once downloaded, for example, the Excel (XLS) file will contain a comprehensive list of all licensed entities regulated by the Colombia SFC. The file typically includes details such as the license type, company name, tax identification number (NIT), legal representative, address, and contact information.

When you have disputes with a Colombia SFC-regulated broker, you can proceed in the following ways:

1st way: The recommended way is to contact the broker directly and discuss with them to find a solution.

2nd way: File a complaint through the Colombia SFC's Smart System.

If the issue is not resolved satisfactorily, you may escalate your complaint via the Superintendencia Financiera de Colombia (Colombia SFC)’s official online platform. The Financial System Oversight Committee will assist investors by facilitating access to the Superintendency’s mediation process to resolve disputes with regulated entities.

3rd way: Pursue a legal claim through Colombia SFC's Jurisdictional Services.

For more serious or unresolved disputes, you may file a formal legal claim through the Colombia SFC's internal jurisdictional mechanism. 

4th way: Use the Colombia SFC's PQRSDF system to report service issues.

If your concern relates to the Colombia SFC's own services, such as poor communication, delays, or inefficiencies in administrative processes, you can submit a petition, complaint, claim, request, report, or even commendation using the PQRSDF system.

5th way: Report misconduct or corruption.

If you observe unethical behavior, abuse of power, or corruption involving current or former Colombia SFC officials, you may file a disciplinary complaint through a dedicated channel.