We found 11 online brokers that are appropriate for Trading Brazilian Forex Platforms.
Searching for a reputable Forex broker in Brazil can be difficult for several traders because of the legal environment and the market's more unconventional nature. Until recently, South America possessed rigid controls that made equity markets trading almost impossible for retail traders. However, authorities are now opening access to the world's biggest stock exchanges and the decentralized, highly famous Forex market.
The Forex market is strictly regulated in Brazil, but trading the Forex has been becoming more popular among local investors with the country becoming more liberal. In fact, Brazil is South America's biggest economy, which is well-known for its exciting Rio carnival, rainforests, and rich natural resources. With a population of about 209.3 million, Brazil is also one of the biggest Portuguese speaking countries globally. Additionally, Brazil is part of the biggest agricultural exporters and producers in the world, with a significant GDP of more than two trillion dollars.
Forex trading is legal in Brazil, but only a few online brokers are available in the country. Traders in Brazil must find dependable online brokers to start trading in the Forex markets. Several well-known international brokers accept clients from Brazil and offer Portuguese-language platforms and customer service support.
It should be noted that traders based in Brazil need to possess a trading account in the BRL to access the foreign exchange market. Traders who already have an account in a foreign currency are permitted to only trade in specific situations. They are advised to sign up with a broker authorized by the Banco Central do Brazil (BCB) or the Central Bank of Brazil. Nevertheless, Forex brokers don't need to manage local BCB licenses.
Until 2005, Brazilian-based traders were only allowed to start trading if they were licensed by the Central bank. Every foreign exchange contract was supervised closely by the BCB, which made normally simple process of trading highly stressful and complicated. Several traders were discouraged by the awkward administration and hostile environment. Then, in 2005, FX trading rules were relaxed with the 3265 CMN Resolution, which was later changed in 2008 by Resolution 3568.
The monetary sector present in Brazil is regulated and monitored by many regulatory bodies. One of which is the Central Bank of Brazil known as BCB or the Banco Central do Brasil. This is the country's primary financial authority, and it is accountable for Brazil's financial policy. Additionally, it is the regulating agent in the country, even though external online brokers do not need to possess licenses from the Central Bank of Brazil.
The principal regulatory agency for Brazil's capital markets is known as the Comissão de Calories Mobiliários (CVM) or the Securities and Exchange Commission of Brazil. It is a self-established regulatory agency under the Ministry of Economy and founded in 1976. As the country's major securities market agency, CVM supervises all participants in the capital markets, such as finance brokers, stock exchanges, investors, and public firms.
Through policy regulation and development, the CVM aspires to ensure that every trades are fair. It also guarantees that there is no insider trading or price manipulation and that traders are safe from manipulating the markets, illegal practices to build artificial conditions for demand and supply. The regulatory institution need to make sure of the effective operation of the OTC and stock markets, and total obedience with the regulatory structure and every rule laid down by the National Monetary Council.
Traders in Brazil can use digital wallets and credit cards to make payment. Brazil also possesses local payment methods that permit citizens to pay in-store in BRL or online easily. Nonetheless, the online market payments are fairly limited by law, and only some local banks control these payment modes. Furthermore, clients are charged an extra tax of about 6.38% when they buy services or goods from a foreign website. This tax is known as the IOF tax which applies to anything that is traded internationally.
It should also be noted that only Brazilians who possess BRL accounts in local banks are allowed to trade in the Forex. As a result, several traders choose to use domestic methods of payment. Of course, debit and credit cards by MasterCard, American Express, and Visa can be used. Also, different e-wallets can be used, such as ecoPayz, Neteller, PayPal, and Skrill.
For Forex brokers looking to target the Brazilian community, they should aim to provide MercadoPago. This is an e-wallet and online payment platform owned by the Argentine e-commerce company, Mercado Libre. This is so as both Brazilian and Argentine traders can use this e-wallet easily.
Overall, the Forex market being opened up to the Brazilian community is great news for traders who are looking to leverage on the highly lucrative industry. However, there still exists certain limitations such as the limited modes of payment and brokers which offer these services to the Brazilian community. As Brazil starts to loosen its strict regulations on trading, the future for Forex trading in Brazil remains hopeful.
We've collected thousands of datapoints and written a guide to help you find the best Forex Brazil for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best Brazilian Forex Platforms below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online Brazilian Forex Platforms trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Brazilian Forex Platforms.
Compare Brazilian Forex Platforms min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Brazilian Forex Platforms. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Brazilian Forex Platforms that accept Brazilian Forex Platforms clients
Broker |
eToro
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IC Markets
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XTB
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FP Markets
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Roboforex
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Trading212
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Plus500
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Pepperstone
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EasyMarkets
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XM
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FXPrimus
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Rating | |||||||||||
Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) |
Min Deposit | 200 | 200 | No minimum deposit | 100 | 1 | 1 | 100 | 200 | 100 | 5 | 100 |
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Used By | 17,000,000+ | 180,000+ | 250,000+ | 10,000+ | 10,000+ | 14,000,000+ | 15,500+ | 10,000+ | 142,500+ | 70,000+ | 10,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with etoro |
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Up with icmarkets |
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Up with xtb |
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Up with fpmarkets |
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Up with roboforex |
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Up with trading212 |
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Up with plus500 |
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Up with pepperstone |
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Up with easymarkets |
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Up with xm |
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Up with fxprimus |
Risk Warning | 67% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money | Your capital is at risk | Your capital is at risk | Losses can exceed deposits |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
FP Markets Demo |
Roboforex Demo |
Trading 212 Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
FXPrimus Demo |
Excluded Countries | IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, IN, PK, BD, NG , ID, BE | US, JP, NZ | US, JP | US | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | BR, KR, IR, IQ, SY, JP, US | US | US, CA, IL, KR, IR, MM, CU, SD, SY | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. |
You can compare Brazilian Forex Platforms ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Brazilian Forex Platforms for 2021 article further below. You can see it now by clicking here
We have listed top Brazilian Forex Platforms below.