Comissão do Mercado de Valores Mobiliários
(CMVM)Regulatory Snapshot
The Comissão do Mercado de Valores Mobiliários (CMVM) is the Portuguese securities market regulator, established in 1991. CMVM supervises and regulates securities and other financial instruments markets, the activities of entities that operate within those markets, and public offerings of securities.
About CMVM
The CMVM is the independent public authority responsible for the supervision and regulation of Portuguese securities markets. Established in April 1991, it operates as Portugal's primary capital markets regulator, ensuring market integrity, investor protection, and the orderly functioning of financial markets. As an EU member state regulator, CMVM's framework is fully aligned with MiFID II standards.
- Investor Compensation Scheme aligned with EU requirements
- Full MiFID II compliance with EU passporting
- Comprehensive disclosure and transparency obligations
| Instrument | Retail | Professional |
|---|---|---|
| Major Forex | 1:30 | 1:500 |
| Minor Forex | 1:20 | 1:400 |
| Gold | 1:20 | 1:400 |
| Indices | 1:20 | 1:400 |
| Shares CFDs | 1:5 | 1:200 |
Passporting Regions
Restricted Countries
CMVM is the Portuguese securities market regulator with full EU passporting.
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