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. Our aim is that this information helps you choose a trustworthy, reputable and professional broker who can satisfy your trading needs online. We have compiled a list of what we consider the best Brazilian Forex Platforms below.
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
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IC Markets
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eToro
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Roboforex
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AvaTrade
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XM
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XTB
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Pepperstone
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FP Markets
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Trading212
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NordFX
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Plus500
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | 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), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), 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 | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | 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, Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039), Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore (MAS) for dealing in capital markets products (License No. CMS100648-1), PLUS500AU (PTY) LTD is regulated by the FSCA (Financial Sector Conduct Authority), Plus500 adheres to MiFID rules |
Min Deposit | 200 | 10 | 1 | 100 | 5 | No minimum deposit | 200 | 100 | 1 | 1 | 100 |
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Used By | 180,000+ | 27,000,000+ | 10,000+ | 300,000+ | 3,500,000+ | 250,000+ | 89,000+ | 10,000+ | 15,000,000+ | 10,000+ | 15,500+ |
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Platforms | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with pepperstone |
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Up with fpmarkets |
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Up with trading212 |
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Up with nordfx |
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Up with plus500 |
Risk Warning | Losses can exceed deposits | 78% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 71% of retail investor accounts lose money when trading CFDs with this provider | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.59% 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. | 74% 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. | 74-89 % of retail investor accounts lose money when trading CFDs | 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. | Losses can exceed deposits | 74% 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. |
Demo |
IC Markets Demo |
eToro Demo |
Roboforex Demo |
AvaTrade Demo |
XM Demo |
XTB Demo |
Pepperstone Demo |
FP Markets Demo |
Trading 212 Demo |
NordFX Demo |
Plus500 Demo |
Excluded Countries | 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 | ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, 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, PY, HN, GT, PR, NI, VG, AN, | US, JP | BE, BR, KP, NZ, TR, US, CA, SG | US, CA, IL, KR, IR, MM, CU, SD, SY | US, IN, PK, BD, NG , ID, BE, AU | AF, AS, AQ, AR, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, UY, VU, VG, EH, YE, ZW | US, JP, NZ | US, CA | US, CA, EU, RU, SY, KP, CU | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE |
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 2022 article further below. You can see it now by clicking here
We have listed top Brazilian Forex Platforms below.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.