| Updated: September 3, 2024Finding the best forex brokers in Argentina has just become much easier, with our list of reputable brands offering you the best options one can choose for their forex trading endeavors. Thanks to the thorough reviews our team of trading experts has conducted, you can be certain that each broker on our list ensures a safe, fair, and intuitive experience for Argentinian traders.
Fusion Markets74-89% of retail CFD accounts lose money
easyMarkets71% of retail investor accounts lose money
Global Prime74-89% of retail CFD accounts lose money
AxiThe vast majority of retail client accounts lose money
Capital.com75% of retail investor accounts lose money
eToro51% of retail investor accounts lose money
CMC Markets71% of retail investor accounts lose money
Tickmill70% of retail investor accounts lose money
Vantage FX
XM Group72.82% of retail investor accounts lose moneyArgentinian Forex Brokers Ranked by Trustpilot Score
| Forex Broker | Trustpilot Reviews | |
|---|---|---|
| 1. Fusion Markets | 1,862 | 4.9 ⭐ |
| 2. easyMarkets | 1,667 | 4.5 ⭐ |
| 3. Global Prime | 161 | 4.4 ⭐ |
| 4. Capital.com | 11,249 | 4.3 ⭐ |
| 5. Axi | 2,371 | 4.3 ⭐ |
| 6. eToro | 25,095 | 4.2 ⭐ |
| 7. CMC Markets | 2,090 | 4.2 ⭐ |
| 8. Tickmill | 835 | 3.7 ⭐ |
| 9. Vantage FX | 4,089 | 3.5 ⭐ |
| 10. XM Group | 956 | 2.9 ⭐ |
Argentinian Forex Brokers Ranked by Spread Commission
| Forex Broker | EURUSD | USDJPY | EURGBP | GBPUSD |
|---|---|---|---|---|
| 1. Tickmill | 0.1 | 0.1 | 0.4 | 0.3 |
| 2. Fusion Markets | 0.07 | 0.13 | 0.23 | 1.01 |
| 3. Global Prime | 0.13 | 0.28 | 0.28 | 1.11 |
| 4. CMC Markets | 0.5 | 0.7 | 1.1 | 0.9 |
| 5. Capital.com | 0.6 | 10 | 2 | 1.3 |
| 6. easyMarkets | 0.7 | 1.0 | 1.0 | 0.9 |
| 7. XM Group | 0.8 | 0.9 | 1.5 | 0.9 |
| 8. Vantage FX | 0.2 | 0.5 | 0.3 | 0.4 |
| 9. eToro | 1.0 | 1.0 | 1.5 | 2.0 |
| 10. Axi | 1.2 | 1.4 | 1.1 | 1.2 |
Argentinian Forex Brokers Ranked by Commission per Lot
| Forex Broker | Commission per lot |
|---|---|
| 1. easyMarkets | $0 |
| 2. eToro | $0 |
| 3. Vantage FX | $3 per side on Raw; $1.50 per side on Pro |
| 4. Capital.com | $0 |
| 5. Fusion Markets | $0 Classic Account, $4.50 round turn on Zero Account |
| 6. CMC Markets | $2.50 per lot (per side) |
| 7. Tickmill | $0 on Classic Account; $3 per side on Raw Account |
| 8. Global Prime | $0 Standard Accounts; $7 round turn on Raw Accounts |
| 9. XM Group | $0 Ultra Low Micro and Ultra Low Standard Accounts; $3.50 per side XM Zero Account |
| 10. Axi | $0 on Standard Account; $7 round trip on Pro Account |
Important Note: The financial market in Argentina, which includes forex trading, is regulated by the National Securities Commission (CNV), the country’s Central Bank, and the Ministry of Finance. Nowadays, Argentinian traders can freely join a wide range of offshore regulated brokers but local entities that wish to offer forex trading and other assets to Argentinians can apply for a license issued by the local authorities. You can always find more information on any of the three regulatory bodies by visiting their official websites at www.cnv.gov.ar, www.economia.gob.ar, and www.bcra.gob.ar.
Top 10 FX Brokers in Argentina
Fusion Markets Broker Details Supports Spanish Yes Argentina Currency (ARS) No Regulators ASIC, FSA (Seychelles), VFSC (Vanuatu) Min Deposit $0 Trading Platforms MetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade Trustpilot Rating 4.9 out of 1,862 reviews Number of Forex Pairs to Trade 90+ Leverage Forex & Metals: 1:30 (1:500 for forex and metals via VFSC)
Index CFDs: 1:5
Cryptocurrencies: 1:2 (ASIC), 1:10 (FSA, VFSC)Spread EURUSD: 0.07
USDJPY: 0.13
EURGBP: 0.23
GBPUSD: 1.01Forex Commission per Lot per Trade $0 Classic Account, $4.50 round turn on Zero Account Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VNPay, DuitNow, XPay, DragonPay, VAPay, FasaPay Withdrawal Methods Visa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity Key Pros
- Offers some of the lowest spreads
- ASIC clients enjoy a negative balance protection
- Supports popular trading platforms
- Offers two copy trading platforms
- Supports fiat and crypto payment solutions
Key Cons
- Does not offer investor protection
- Traders outside Australia have no negative balance protection
- Cannot set up an account in a minor currency
- Has no FCA license
Global Prime Broker Details Supports Spanish No Argentina Currency (ARS) No Regulators ASIC (No. 385620), VFSC (No. 40256) Min Deposit $0 Trading Platforms MT4 Desktop, MT4 Webtrader, MT4 Android Trustpilot Rating 4.4 out of 161 reviews Number of Forex Pairs to Trade 56 Leverage Forex & Metals: 1:500 (1:30 for ASIC entity)
Index CFDs: 1:100 (1:20 for ASIC entity)
Cryptocurrencies: Up to 1:2 (ASIC); Up to 1:5 (Pro and VFSC)Spread EURUSD: 0.13
USDJPY: 0.28
EURGBP: 0.28
GBPUSD: 1.11Forex Commission per Lot per Trade $0 Standard Accounts; $7 round turn on Raw Accounts Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Gate8, Dragonpay, Fasapay, VNPay, Pagsmile, BPay, POLi, AstroPay, Bank Transfer, Interac, Perfect Money, PayID, Jeton, MiFinity, XPay, Crypto Withdrawal Methods Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies
Key Pros
- Overseen by a top-tier financial regulator (ASIC)
- No fees on deposits and withdrawals
- Low fees for FX trading
- Streamlined sign-up process
- A broad range of currency pairs
Key Cons
- Could use more trading platforms
- A limited range of educational resources
- Does not offer Islamic or cent accounts
XM Group Broker Details Supports Spanish Yes Argentina Currency (ARS) No Regulators (ASIC) (ref. No. 443670), FSC (license no. 000261/397), DFSA (ref. no. F003484), CySEC (license no. 120/10), MiFID, CFTC Min Deposit $5 Trading Platforms MetaTrader 4 and 5, MetaTrader 4 and 5 on mobile, MT4 WebTrader, MT5 WebTrader, MT4 Multiterminal Trustpilot Rating 2.9 out of 956 reviews Number of Forex Pairs to Trade 50+ Leverage Forex & Metals: 1:30
Index CFDs: 1:20
Cryptocurrencies: 1:2Spread EURUSD: 0.8
USDJPY: 0.9
EURGBP: 1.5
GBPUSD: 0.9Forex Commission per Lot per Trade $0 Ultra Low Micro and Ultra Low Standard Accounts; $3.50 per side XM Zero Account Deposit Methods Visa, Mastercard. Skrill, Bank Transfer, Neteller, Apple Pay, Google Pay, UnionPay, Maestro Withdrawal Methods Visa, Mastercard, China Union Pay, Skrill, Neteller, Bank Transfer Key Pros
- Traders can choose from over 10 platforms
- Covers a great number of currency pairs
- Regulated by major authorities
- Offers smooth trading on the go
- Supports different account types with tight spreads and low fees
Key Cons
- Trading platform’s design seems outdated
- Not listed on stock exchange
- Charges an inactivity fee
easyMarkets Broker Details Supports Spanish Yes Argentina Currency (ARS) No Regulators CySEC (license no. 079/07), ASIC (license no. 246566), FSA (license no. SD056), and FSC (license no. SIBA/L/20/1135). Min Deposit $100 Trading Platforms easyMarkets, MetaTrader 4, MetaTrader 5, TradingView Trustpilot Rating 4.5 out of 1,667 reviews Number of Forex Pairs to Trade 60+ Leverage Forex & Metals: 1:30
Index CFDs: 1:20
Cryptocurrencies: 1:2Spread EURUSD: 0.7
USDJPY: 1.0
EURGBP: 1.0
GBPUSD: 0.9Forex Commission per Lot per Trade $0 Deposit Methods Visa, Mastercard, JCB, Amex, Skrill, Neteller, Fasapay, Sofort, iDEAL, Web Money, BPay, Bank Transfer Withdrawal Methods Visa, Mastercard, JCB, Amex, Skrill, Neteller, Fasapay, Sofort, iDEAL, Web Money, BPay, Bank Transfer Key Pros
- Offers tight spreads and low fees
- Supports trading of over 60 currency pairs
- Regulated by several reputable authorities
- Supports a wide range of payment methods
- Offers a proprietary platform
Key Cons
- Number of supported products is somewhat limited
- Does not offer copy trading platform
- Traders from certain countries may have access to fewer payment methods
eToro Broker Details Supports Spanish Yes Argentina Currency (ARS) No Regulators FCA, CySEC, ASIC, MFSA, ADGM, FSA, FINRA/FinCEN Min Deposit $50 or $100 based on country ($10 for the UK) Trading Platforms eToro Investing, eToro App, TradingView, eToro CopyTrader Trustpilot Rating 4.2 out of 25,095 reviews Number of Forex Pairs to Trade 55 Leverage Forex & Metals: 1:30
Index CFDs: 1:20
Cryptocurrencies: Up to 1:2 (European and Australian Retail traders) Up to 1:5 (Pro and FSA traders)Spread EURUSD: 1.0
USDJPY: 1.0
EURGBP: 1.5
GBPUSD: 2.0Forex Commission per Lot per Trade $0 Deposit Methods eToro Money, Visa, Mastercard, Neteller, PayPal, Skrill, iDeal, Klarna, Bank Transfer, Trustly, Przelewy24 Withdrawal Methods PayPal, Skrill, Visa, Mastercard, Neteller, Trustly, Bank Transfer Key Pros
- Offers trading with over 5,000 instruments
- Ideal for social and copy trading
- No commissions on forex trades
- Effortless registration process
- Offers negative balance protection
Key Cons
- Withdrawals are subject to additional processing fees ($5)
- USD is the only base account currency
- Charges inactivity fees on dormant accounts
Tickmill Broker Details Supports Spanish Yes Argentina Currency (ARS) No Regulators CySEC (No. 278/15), FCA (733772), CONSOB (No.4310), BaFin (No.146511), ACPR (No.75473), CNVM (No.4082), FSA Seychelles (SD 008), FSCA (FSP 49464) Min Deposit $100 Trading Platforms MT4, MT5, WebTrader, ZuluTrade Trustpilot Rating 3.7 out of 835 reviews Number of Forex Pairs to Trade 62 Leverage Forex & Metals: 1:30
Index CFDs: 1:20
Cryptocurrencies: 1:2Spread EURUSD: 0.1
USDJPY: 0.1
EURGBP: 0.4
GBPUSD: 0.3Forex Commission per Lot per Trade $0 on Classic Account; $3 per side on Raw Account Deposit Methods Bank Transfer, Skrill, Mastercard, Visa, PayPal, Przelewy24, Neteller, Trustly Withdrawal Methods Mastercard, Visa, Skrill, Neteller, Przelewy24, PayPal, Bank Transfer Key Pros
- Offers swap-free accounts for Islamic customers
- No commissions on FX trades via Classic accounts
- Global presence in over 180 countries
- FX spreads from zero pips on Raw accounts
- Swift order execution with no requotes
Key Cons
- Could use more base account currencies
- Bank-transfer deposits below $5,000 incur extra fees
Axi Broker Details Supports Spanish Yes Argentina Currency (ARS) No Regulators ASIC, FCA, CySEC, DFSA, FSA (Saint Vincent and the Grenadines) Min Deposit $0 Trading Platforms MT4 Desktop, MT4 WebTrader, Axi Mobile Trustpilot Rating 4.3 out of 2,371 reviews Number of Forex Pairs to Trade 80 Leverage Forex & Metals: 1:30
Index CFDs: 1:20
Cryptocurrencies: 1:2Spread EURUSD: 1.2
USDJPY: 1.4
EURGBP: 1.1
GBPUSD: 1.2Forex Commission per Lot per Trade $0 on Standard Account; $7 round trip on Pro Account Deposit Methods Visa, Mastercard, Bank Transfer, Neteller, Skrill, AstroPay, Fasapay, Przelewy24, Boleto, Pix, Bitcoin, Ethereum, Ripple, Litecoin, Tether, Stellar Withdrawal Methods Mastercard, Visa, Bank Transfer, Przelewy24, Fasapay, Skrill, AstroPay, Pix, Boleto, Neteller, Bitcoin, Ripple, Ethereum, Litecoin, Tether, Stellar Key Pros
- Provides multilingual customer support
- Standard and Pro accounts available in 10 base currencies
- No minimum deposit requirements on Pro and Standard accounts
- Over 70 FX pairs tradable from zero pips
- Swift order execution and tight spreads
Key Cons
- A limited choice of trading platforms
- Below-average number of tradable symbols
CMC Markets Broker Details Supports Spanish Yes Argentina Currency (ARS) No Regulators ASIC, MAS, FCA, BaFin, IIROC Min Deposit $0 Trading Platforms CMC Markets’ Next Generation, MetaTrader 4 Trustpilot Rating 4.2 out of 2,090 reviews Number of Forex Pairs to Trade 330+ Leverage Forex & Metals: 1:30
Index CFDs: 1:20
Cryptocurrencies: 1:2Spread EURUSD: 0.5
USDJPY: 0.7
EURGBP: 1.1
GBPUSD: 0.9Forex Commission per Lot per Trade $2.50 per lot (per side) Deposit Methods Visa, Mastercard, Maestro, Online Banking, Bank Transfer Withdrawal Methods Visa, Mastercard, PayPal, Bank Transfer Key Pros
- Publicly traded reputable brand
- One of the first online forex brokers
- Covers an extensive selection of currency pairs
- Offers proprietary trading platform
- Enables smooth mobile trading
Key Cons
- Automated trading available only on MetaTrader4
- Fees on stock CFDs can be high
- Supports a limited number of payment methods
Vantage FX Broker Details Supports Spanish Yes Argentina Currency (ARS) No Regulators FCA (license no. FRN: 590299), VFSC (reg. No. 700271), ASIC (license no. no. 428901), FSCA (license no. 51268), CIMA (no. 1383491) Min Deposit $50 Trading Platforms MetaTrader 4, MetaTrader 5, ProTrader, TradingView, Copy Trading Trustpilot Rating 3.5 out of 4,089 reviews Number of Forex Pairs to Trade 60+ Leverage Forex & Metals: 1:30
Index CFDs: 1:20
Cryptocurrencies: 1:2Spread EURUSD: 0.2
USDJPY: 0.5
EURGBP: 0.3
GBPUSD: 0.4Forex Commission per Lot per Trade $3 per side on Raw; $1.50 per side on Pro Deposit Methods Visa, Mastercard, Union Pay, Boleto, Bank Wire, Skrill, Neteller, Crypto Withdrawal Methods Visa, Mastercard, Union Pay, Bank Wire, Skrill, Neteller, Crypto Key Pros
- Regulated by reputable authorities
- Offers over 1,000 CFD products
- Supports various popular platforms
- Enables easy copy trading on mobile app
- Tight spreads and low commission for forex traders
Key Cons
- Some banking methods are exclusive to certain markets
- Could add more currency pairs to its products
- Limited educational materials
Capital.com Broker Details Supports Spanish Yes Argentina Currency (ARS) No Regulators ASIC, FCA, CySEC, SCB, MiFID Min Deposit $20 Trading Platforms MetaTrader 4, TradingView Trustpilot Rating 4.3 out of 11,249 reviews Number of Forex Pairs to Trade 125+ Leverage Forex & Metals: 1:30
Index CFDs: 1:20
Cryptocurrencies: 1:2Spread EURUSD: 0.6
USDJPY: 10
EURGBP: 2
GBPUSD: 1.3Forex Commission per Lot per Trade $0 Deposit Methods Bank transfers, VISA, MasterCard, Maestro, Apple Pay, PayPal, Neteller, Skrill, Sofort, Przelewy, TrueLayer, iDEAL, Trustly, SPEI Withdrawal Methods Bank transfers, bank cards, Apple Pay, PayPal, Neteller, Skrill, Sofort, Trustly Key Pros
- Trusted by 580K+ traders across the globe
- Trading guides for beginner, intermediate, and advanced traders
- Mobile apps for Android and iOS devices
- Low FX fees built into the spread
- Negative balance protection
Key Cons
- There is an inactivity fee after 1 year
- No two-step login
- No price alerts on the web platform
Is Forex Trading Legal in Argentina?
While forex trading used to be extremely limited in the territory of Argentina, nowadays, it is a fully regulated and legal activity, with local authorities regulating the trading market in the country. In 2016, the Central Bank of Argentina revoked any remaining rules that were limiting foreign exchange activities in the country. These changes were introduced for the purpose of introducing a fairer, less costly, and more competitive forex trading environment in Argentina.
As mentioned above, the trading sector in Argentina is regulated by three different authorities, including the Argentinian Central Bank, the CNV, and the Ministry of Finance. While these three work towards making forex trading more accessible in Argentina, currently, online options available to Argentinian traders include only offshore brokers regulated in different jurisdictions.
While there are no laws restricting Argentinian traders from joining foreign trading websites, it is recommended to always choose brands licensed and regulated by reputable authorities. These include the FCA, CySEC, ASIC, and more authorities that require their license holders to follow a range of guidelines and rules that ensure a fair and secure trading environment.
Forex Trading Regulations in Argentina
While there are three different authorities responsible for the regulation of the financial market and trading services in Argentina, the current state of this sector is still very complicated due to the unstable economy of the country. Even though the CNV can authorize the operation of brokers in Argentina, there are still no local entities that have been licensed to legally offer forex trading to Argentinian traders.
With the foreign exchange industry constantly going through regulatory amendments, it is still difficult to provide any specific legal framework for the way Argentina regulates forex trading. With Argentinians being allowed to engage in trading different currency pairs across foreign websites, it is mainly the regulations implemented by authorities like the FCA, ASIC, or the FSA that dictate the way forex trading among Argentinians is conducted.
Even though the CNV requires brokers who wish to operate from within Argentina to obtain permission from local authorities, such requirements do not apply to offshore brokers. What is more, there are no rules limiting Argentinians’ access to foreign brokers but it is recommended they choose entities regulated by other reputable offshore authorities. That ensures that traders will enjoy extra security via tools like negative balance protection, leverage limits, and even investor protection in some cases.
How Can Argentinian Traders Verify Forex Brokers’ Authorizations?
Currently, as we provide this review to our readers, we could not find any local broker licensed by the CNV. However, as most Argentinians opt for forex trading with offshore forex brokers, we can help them verify the licenses the forex brand of their choice is holding.
Any reputable trading website would clearly state the name of its operator, its registration number, and the regulators that have authorized the operations of the entity. Such information is typically listed on the bottom part of the official webpage of each broker. Additionally, traders can load the official website of any regulator listed on the broker’s page and confirm the validity of any license by contacting the respective regulator’s support team. Many regulators are also providing official registers of the entities they have authorized to operate, making license verification even easier.
Are Argentinian Traders’ Funds Safe with Forex Brokers?
The safety of your funds depends mainly on your choice of Argentinian-friendly forex broker. If you have joined a website authorized by tier-1 regulators, you can be sure that your money will always be treated in the most secure manner. To obtain operational licenses from top-tier regulators, brokers are typically required to obtain a minimum starting capital that will ensure the entities are capable of offering their customers financial services. Even after they have received their licenses, brokers are typically subject to regular audits, ensuring their capability to handle the financial services they offer to their clients.
Most regulators also require brokers to keep their customers’ funds in segregated bank accounts. That ensures extra protection for traders’ funds, which will be intact even in the case of the brokerage going bankrupt or losing money for a different reason. It is also worth noting that some brokers may offer investor protection, ensuring customers refunds in case of losing money due to the broker’s mistake. This measure, however, may often be offered only to residents within the EU, so Argentinian traders are advised to check the availability of any protection tool before they join a broker.
Offshore regulated forex brokers are also usually required to implement strict AML (anti-money laundering) measures to combat attempts for fraudulent activities, including terrorist financing. To prevent identity thefts, brokers will usually request that newly registered traders go through a standard KYC (Know Your Customer) process. Argentinian traders make no exception, with most brokers requiring identity verification either upon registering with the brand or before they can make their first withdrawal.
Do Argentinian Brokers Provide Negative Balance Protection?
Depending on the regulators authorizing the operation of the broker you have chosen for your forex trading, you may have access to a different set of protection instruments. One such additional security measure adopted by many reputable brokers catering to Argentinian traders is negative balance protection. Regulators like the FCA, CySEC, ASIC, and more have introduced several regulations to reduce the risk factor that is inevitably attached to forex trading. Requiring regulated brokers to implement negative balance protection to their retail clients’ accounts will ensure that traders cannot end up losing way more than they can afford.
With Argentinians often having negative balance protection, forex trading becomes less risky, allowing traders to trade currency pairs and avoid losing a sum bigger than the money they have deposited into their accounts. That way, a huge loss will simply reduce one’s balance to 0, with traders owing the broker no additional money.
Do Traders Pay Tax on Forex Trading in Argentina?
With Argentinian regulators constantly introducing new regulations to ensure better management of the foreign exchange sector in the country, one should be aware of all changes in the laws and taxation system within the country. Under the current legislative framework, Argentinians are required to pay taxes on their forex trading gains. It should also be mentioned that the Argentinian government has imposed a tax on purchases made abroad via credit cards, which may discourage many Argentinians from spending foreign currencies.
To be sure they are well aware of the latest changes in the legislative framework of the country and the tax system of Argentina, local forex traders are advised to contact experts on tax laws in Argentina, helping them to determine the tax rate applied to their forex trading gains.
How Does the Available Leverage in Argentina Compare to the Leverage at Brokers Regulated Offshore?
Many top-tier regulators have introduced leverage limits that licensed forex brokers are required to comply with and reduce the risk linked to trading currency pairs. Currently, there have not been any limits on forex trading leverage introduced by the Argentinian regulators. What is more, with the current situation within the country leaving Argentinian traders no other choice but to join foreign websites authorized by other major regulators, the allowed leverage maximum will vary according to the broker Argentinians choose to join.
Leverage limits are typically introduced as a security measure, reducing the risk, especially when traders are inexperienced and may fail to assess the risk when trading with higher leverage. Regulators like the FCA, ASIC, and CySEC as well as other EU-based regulatory bodies have taken a somewhat balanced approach, introducing a maximum leverage of 30:1 on major currency pairs and 20:1 on non-major currency pairs. Compared to US brokers, these limits are somewhat lower, with forex trading websites allowed to offer US traders a maximum leverage of up to 50:1 on major currency pairs. That said, brokers licensed to operate in the US may choose to impose lower limits on forex trading.
If European limits seem low, you should take a look at the maximums introduced in some Asian countries, with markets like South Korea and Japan allowing maximum leverage ratios of 10:1 or even 5:1. While these may seem extremely low, such restrictions have been introduced due to the extremely high risk linked to forex trading with higher leverage.
If Argentinian traders still wish to increase the potential returns by making use of high leverage limits, they might approach brokers licensed in different jurisdictions. For instance, under the FSA regulations, brokers operating within the Seychelles are allowed to offer a leverage of up to 5000:1. Such rates, however, can be extremely unreasonable, which is why we advise Argentinians to opt for trading brands that have imposed less risky leverage limits.
What Do You Need to Qualify to be Designated as a Professional Trader in Argentina?
Argentinian traders will notice that many forex brokers allow their clients to open several account types, with professional trading accounts being one of the available options. This kind of trading is suitable for forex traders who enjoy placing high-risk orders, prefer trading higher volumes, and place multiple orders to make the most of their investments. However, only a particular type of trader can qualify for a professional account with a broker, with conditions ranging depending on the regulator overseeing the operations of the trading company.
Usually, most regulators have similar requirements for professional clients, with individuals with experience in trading, knowledge to support that experience, and a hefty portfolio proving the eligibility of traders. If Argentinian traders wish to apply for professional trading accounts with the forex broker of their choice, they can contact the support team and ask for the types of documents they need to submit in order to qualify for professional trading status.
To give you a better understanding of conditions that you may be asked to meet, we will list professional trading requirements at most EU-regulated brokers:
- Traders must have done at least 10 transactions of significant size per quarter in the last 12 months
- Traders must have at least one year of working experience in a position in the financial market sector
- Traders’ financial instruments portfolios must be evaluated at €500,000 or higher
These requirements may differ, depending on the forex broker you have chosen to join.
What Trading Platforms Are Available to Argentinian Traders?
As already mentioned, Argentinian traders are welcomed by a large number of offshore forex brokers, allowing them to pick from a wide range of platform options. Picking a broker is often done considering the types of platforms traders will have access to. If you are a beginner, you would like to be able to use a user-friendly platform that will allow you a smooth introduction to forex trading and its specifics. MetaTrader 4 and MetaTrader 5 are typically the most popular variations used for forex trading and the majority of Argentinian-friendly brokers will support both of the options alongside their in-house proprietary platforms and more modern versions like cTrader.
MetaTrader 4: One of the most popular platforms in the forex universe, MT4 is a suitable software option for both beginners and more experienced traders. Covering a decent number of markets and enabling automated trading, MT4 is preferred by many forex traders. The convenience of launching the platform on any device, including a smartphone, allows traders a smooth trading experience at any time and place.
MetaTrader 5: Yet another popular platform solution, MT5 offers its users to trade forex, stocks, CFDs, and futures, making trading more accessible through a user-friendly interface. Charts and technical analysis tools are some of the features integrated into MT5’s design, allowing better assessment of risks.
cTrader: While this is a platform choice more suitable for experienced traders, it can easily make anyone’s forex trading experience smoother, faster, and more intuitive. Drawing tools, charts, and analysis allow traders to spot trends easily and get a better insight into markets. Fast order executions are also among the perks that cTrader users can enjoy, making forex trading for many Argentinians even more enjoyable.
Listed below are links to the official websites of the three regulatory authorities that are responsible for monitoring the financial market, including forex trading in Argentina.
- The National Securities Commission (CNV): The commission is tasked with the authorization of local entities in Argentina. That said, most trading in Argentina occurs via international offshore brokers.
- The Central Bank of Argentina (BCRA): The bank revoked limitations on foreign exchange activities in Argentina and created a more transparent and competitive trading environment.
- The Ministry of Economy: A complaints channel of the Ministry of Economy where all natural and legal persons can report alleged irregularities in the Ministry of Economy.