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Best Forex Brokers in Brazil for 2024

Written by Naylyan Nazifova
Naylyan Nazifova is a recognised expert in the online trading field. She has many publications and analysis covering forex trading, stock investing and personal finance. 
, | Updated: December 2, 2024

Brazil is the largest country in South America by area, population, and economy, attracting investors with its rich natural resources, qualified workforce, and consistently expanding consumer base. The country adopted floating exchange rates for its currency, the Brazilian real, in 1999, and eased its restrictions on forex trading several years later. Residents can legally engage in forex trading, although their access to certain derivatives like CFDs remains severely limited for the time being.

Many forex brokers target customers from the country, although not all are equally trustworthy. At Best Brokers, we decided to simplify the selection process by shortlisting Brazil’s most reliable forex trading platforms. Our experts registered live trading accounts with all brokers featured on our toplist to test their order execution quality, software, withdrawal speed, and customer support first-hand. Continue reading to learn more about forex trading regulations in Brazil and find a broker that best corresponds to your needs.

1Fusion Markets
Rating: 4.9 ⭐
74-89% of retail CFD accounts lose money
Top Rated
2Pepperstone
Rating: 4.6 ⭐
75.5% of retail investor accounts lose money
3Global Prime
Rating: 4.5 ⭐
74-89% of retail CFD accounts lose money
4Capital.com
Rating: 4.3 ⭐
75% of retail investor accounts lose money
5City Index
Rating: 4.2 ⭐
69% of retail investor accounts lose money
6CMC Markets
Rating: 4.2 ⭐
71% of retail investor accounts lose money
7Plus500
Rating: 4.1 ⭐
82% of retail investor accounts lose money
8Libertex
Rating: 4.0 ⭐
74.91% of retail investor accounts lose money
9IG
Rating: 3.7 ⭐
70% of retail client accounts lose money
10Iron FX
Rating: N/A ⭐
67.62% of retail investor accounts lose money

Brazilian Forex Brokers Ranked by Trustpilot Score

Brazilian Forex Brokers Ranked by Spread Commission

Forex BrokerEURUSDUSDJPYEURGBPGBPUSD
1. Libertex0.10.30.30.4
2. Fusion Markets0.070.130.231.01
3. Global Prime0.130.280.281.11
4. CMC Markets0.50.71.10.9
5. IG0.850.90.91.40
6. Capital.com0.61021.3
7. Iron FX0.70.40.90.8
8. Pepperstone1.00 (min)1.01.21.00 (min)
9. City Index1.11.81.62
10. Plus5001.21.51.51.5

Brazilian Forex Brokers Ranked by Commission per Lot

Forex BrokerCommission per lot
1. City Index$0
2. Plus500$0
3. IG$0
4. Iron FX$0
5. Capital.com$0
6. Libertex$0
7. Fusion Markets$0 Classic Account, $4.50 round turn on Zero Account
8. CMC Markets$2.50 per lot (per side)
9. Global Prime$0 Standard Accounts; $7 round turn on Raw Accounts
10. Pepperstone$0 (Standard Account), $7 round-turn (Razor Account)

Important Note: Although not mandatory, Forex brokers should generally seek authorization from the Securities and Exchange Commission of Brazil (Comissão de Valores Mobiliários) to do business with traders from the country. However, Brazilians can freely engage in forex trading with offshore brokers regulated in other jurisdictions and face no legal prosecution for doing so.

Top 10 FX Brokers in Brazil

  1. TRADE NOW 74-89% of retail CFD accounts lose money

    Fusion Markets Broker Details
    Supports PortugueseNo
    Brazil Currency (BRL)Yes
    RegulatorsASIC, FSA (Seychelles), VFSC (Vanuatu)
    Min Deposit$0
    Trading PlatformsMetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade, TradingView
    Trustpilot Rating4.9 out of 1,862 reviews
    Number of CFD Forex Pairs to Trade90+
    LeverageForex & Metals CFDs: 1:30 (1:500 for forex and metals via VFSC)
    Index CFDs: 1:5
    Cryptocurrencie CFDs: 1:2 (ASIC), 1:10 (FSA, VFSC)
    SpreadEURUSD: 0.07
    USDJPY: 0.13
    EURGBP: 0.23
    GBPUSD: 1.01
    Forex Commission per Lot per Trade$0 Classic Account, $4.50 round turn on Zero Account
    Deposit MethodsVisa, 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, AstroPay, PayID, Jetonbank, Sticpay, Interac, LuqaPay, Zotapay, MiFinity
    Withdrawal MethodsVisa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay

    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
  2. TRADE NOW 74-89% of retail CFD accounts lose money

    Global Prime Broker Details
    Supports PortugueseNo
    Brazil Currency (BRL)Yes
    RegulatorsASIC (No. 385620), VFSC (No. 40256)
    Min Deposit$0
    Trading PlatformsMT4 Desktop, MT4 Webtrader, MT4 Android
    Trustpilot Rating4.5 out of 161 reviews
    Number of CFD Forex Pairs to Trade56
    LeverageForex & Metals CFDs: 1:500 (1:30 for ASIC entity)
    Index CFDs: 1:100 (1:20 for ASIC entity)
    Cryptocurrencie CFDs: Up to 1:2 (ASIC); Up to 1:5 (Pro and VFSC)
    SpreadEURUSD: 0.13
    USDJPY: 0.28
    EURGBP: 0.28
    GBPUSD: 1.11
    Forex Commission per Lot per Trade$0 Standard Accounts; $7 round turn on Raw Accounts
    Deposit MethodsVisa, 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
  3. TRADE NOW 75.5% of retail investor accounts lose money

    Pepperstone Broker Details
    Supports PortugueseYes
    Brazil Currency (BRL)No
    RegulatorsUK FCA (No.684312), CySEC (No. 388/20), ASIC (No. 414530), BaFin (No.151148), DFSA, CMA, SCB (Bahamas)
    Min Deposit$0
    Trading PlatformsTradingView, MT5, MT4, cTrader
    Trustpilot Rating4.6 out of 2,789 reviews
    Number of CFD Forex Pairs to Trade90+
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 1.00 (min)
    USDJPY: 1.0
    EURGBP: 1.2
    GBPUSD: 1.00 (min)
    Forex Commission per Lot per Trade$0 (Standard Account), $7 round-turn (Razor Account)
    Deposit MethodsVisa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, Skrill
    Withdrawal MethodsVisa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, Skrill

    Key Pros

    • Winner of multiple industry awards
    • Commission-free FX trades via standard accounts
    • Over 1,200 instruments across all major asset classes
    • Competitive spreads on FX trades via Razor accounts
    • Seamless withdrawals within 1 to 3 workdays

    Key Cons

    • A somewhat limited range of deposit and withdrawal options
    • High swap rates on overnight positions
  4. TRADE NOW 69% of retail investor accounts lose money

    City Index Broker Details
    Supports PortugueseNo
    Brazil Currency (BRL)No
    RegulatorsFCA (No. 446717), CySEC (No. 400/21), MAS, ASIC
    Min Deposit$0
    Trading PlatformsMT4, WebTrader, Trading App, TradingView
    Trustpilot Rating4.2 out of 334 reviews
    Number of CFD Forex Pairs to Trade84
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 1.1
    USDJPY: 1.8
    EURGBP: 1.6
    GBPUSD: 2
    Forex Commission per Lot per Trade$0
    Deposit MethodsVisa, Visa Electron, Mastercard, Maestro, PayNow, Bank Transfer, Online Banking, PayPal, PayID, BPAY, EFT
    Withdrawal MethodsMastercard, Visa, Visa Electron, Maestro, PayPal, Bank Transfer

    Key Pros

    • No commissions on spot forex and CFD trades
    • Lightning-fast speed of order execution
    • Long track record spanning over 40 years
    • Over 1 million registered customers
    • Excels in delivering quality educational content

    Key Cons

    • No support for MT5 for the time being
    • Higher min. deposit requirements compared to rival brokers
    • Stores client funds in top-tier banks like J.P. Morgan
  5. TRADE NOW 82% of retail investor accounts lose money

    Plus500 Broker Details
    Supports PortugueseYes
    Brazil Currency (BRL)No
    RegulatorsFSA (No.4.1-1/18), FCA (No. FRN 509909), CySEC (No.250/14), FMA (No.47546), SFSA (No. SD039), MAS (No. CMS100648), DFSA (No. F005651), ASIC (No. 417727), BaFin registration, SCB (SIA-F250)
    Min Deposit$100
    Trading PlatformsProprietary desktop and mobile platforms
    Trustpilot Rating4.1 out of 14,038 reviews
    Number of CFD Forex Pairs to Trade60+
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2 (1:5 via FSA)
    SpreadEURUSD: 1.2
    USDJPY: 1.5
    EURGBP: 1.5
    GBPUSD: 1.5
    Forex Commission per Lot per Trade$0
    Deposit MethodsDebit Visa/Mastercard, Wire transfer, Apple Pay, Google Pay
    Withdrawal MethodsDebit Visa/Mastercard, Wire transfer, Apple Pay, Google Pay

    Key Pros

    • Trades publicly on the London Stock Exchange
    • Commission-free CFD trading with tight spreads
    • Great selection of analytical tools and educational materials
    • Easy and quick account opening
    • Provides real-time quotes

    Key Cons

    • Charges administrative fees on inactive accounts
    • The platform could use more customization features
  6. 6. IG
    TRADE NOW 70% of retail client accounts lose money

    IG Broker Details
    Supports PortugueseYes
    Brazil Currency (BRL)No
    RegulatorsASIC, FCA, DFSA, CFTC, FMA, FINMA, BaFin, MAS, JFSA, FSCA, BMA (Bermuda)
    Min Deposit$50
    Trading PlatformsMT4, L2 Dealer, ProRealTime, IG proprietary software, TradingView
    Trustpilot Rating3.7 out of 7,200 reviews
    Number of CFD Forex Pairs to Trade80+
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 0.85
    USDJPY: 0.9
    EURGBP: 0.9
    GBPUSD: 1.40
    Forex Commission per Lot per Trade$0
    Deposit MethodsVisa, Mastercard, Bank Transfer, Wire Transfer, Visa Electron, Discover, PayPal, Apple Pay, BPAY
    Withdrawal MethodsVisa, Visa Electron, Mastercard, Discover, Bank Transfer

    Key Pros

    • Towering selection of over 17,000 tradable markets
    • Listed on the FTSE 250 index
    • Competitive pricing and low forex spreads
    • No fees on deposits or withdrawals
    • Demo accounts for risk-free forex trading practice

    Key Cons

    • Payment options are a bit limited
    • Customer support is slow to respond during busy hours
  7. TRADE NOW 71% of retail investor accounts lose money

    CMC Markets Broker Details
    Supports PortugueseNo
    Brazil Currency (BRL)No
    RegulatorsASIC, MAS, FCA, BaFin, IIROC
    Min Deposit$0
    Trading PlatformsCMC Markets’ Next Generation, MetaTrader 4
    Trustpilot Rating4.2 out of 2,090 reviews
    Number of CFD Forex Pairs to Trade330+
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 0.5
    USDJPY: 0.7
    EURGBP: 1.1
    GBPUSD: 0.9
    Forex Commission per Lot per Trade$2.50 per lot (per side)
    Deposit MethodsVisa, Mastercard, Maestro, Online Banking, Bank Transfer
    Withdrawal MethodsVisa, 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
  8. TRADE NOW 67.62% of retail investor accounts lose money

    Iron FX Broker Details
    Supports PortugueseYes
    Brazil Currency (BRL)No
    RegulatorsFCA (licensing no. 585561), FSCA (licensing no. 45276)
    Min Deposit$100
    Trading PlatformsMetaTrader 4, WebTrader, VPS, PMAM, TradeCopier, Mobile App
    Trustpilot RatingN/A out of N/A reviews
    Number of CFD Forex Pairs to Trade80+
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 0.7
    USDJPY: 0.4
    EURGBP: 0.9
    GBPUSD: 0.8
    Forex Commission per Lot per Trade$0
    Deposit MethodsVisa, Mastercard, Bank Wire, Skrill, Neteller, China Union Pay, Fasapay, Perfect Money, Bitwallet, Paysafecard
    Withdrawal MethodsBank Wire

    Key Pros

    • Offers a wide selection of trading instruments
    • Supports several popular trading platforms
    • Enables easy trading on the go via dedicated app
    • Supports various deposit methods
    • Traders can choose from 7 different account types

    Key Cons

    • Bahamas entity operates with no license
    • Trustpilot score not available due to many fake review detected
    • Withdrawals are possible only via bank wire
  9. TRADE NOW 75% of retail investor accounts lose money

    Capital.com Broker Details
    Supports PortugueseNo
    Brazil Currency (BRL)No
    RegulatorsASIC, FCA, CySEC, SCB, SCA (UAE)
    Min Deposit$20
    Trading PlatformsMetaTrader 4, TradingView
    Trustpilot Rating4.3 out of 11,249 reviews
    Number of CFD Forex Pairs to Trade125+
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 0.6
    USDJPY: 10
    EURGBP: 2
    GBPUSD: 1.3
    Forex Commission per Lot per Trade$0
    Deposit MethodsBank transfers, VISA, MasterCard, Maestro, Apple Pay, PayPal, Neteller, Skrill, Sofort, Przelewy, TrueLayer, iDEAL, Trustly, SPEI, Volt, Lean
    Withdrawal MethodsBank 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
  10. TRADE NOW 74.91% of retail investor accounts lose money

    Libertex Broker Details
    Supports PortugueseYes
    Brazil Currency (BRL)No
    RegulatorsCySEC (CIF Licence number 164/12), BaFin (BaFin ID: 10161686 / Bak No.: 161686)
    Min Deposit$10
    Trading PlatformsLibretex Trading Platform, MT4, MT5
    Trustpilot Rating4.0 out of 9,456 reviews
    Number of CFD Forex Pairs to Trade50+
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 0.1
    USDJPY: 0.3
    EURGBP: 0.3
    GBPUSD: 0.4
    Forex Commission per Lot per Trade$0
    Deposit MethodsPayPal, Visa, Mastercard, Sofort, iDeal, Trustly, Skrill, Giropay, Sepa International Bank Wire, Multibanco, P24, BLIK, Eps, Neteller
    Withdrawal MethodsSEPA International Bank Wire, PayPal, Visa Mastercard, Skrill, Neteller

    Key Pros

    • Great variety in terms of markets
    • Users have a range of deposit and cashout solutions to pick from
    • Available in English, Spanish, French, Portuguese, and other languages
    • Negative balance protection
    • Traders can contact the customer support staff via live chat

    Key Cons

    • No longer available for UK traders
    • Does not accept traders from the US
    • Somewhat lacking in terms of educational resources

The Brazilian government eased its stance on forex trading in 2005, making it legal and accessible for residents throughout the country. Companies looking to provide such services are recommended to obtain local licenses as required by CMN Resolution No. 4970. Entities interested in doing so must meet minimum capital requirements of €245,000 (around BRL 1.35 million) and prove they have derived these funds from legitimate sources.

Eligible applicants must additionally provide detailed business plans outlining their future goals and financial prospects. Brazilian regulatory authorities will also request information about the directors and key management personnel of prospective licensees. These employees must possess professional knowledge about the foreign exchange sector in particular and the financial industry in general. The directors of the companies must either have Brazilian residency or obtain special work permits in the country.

The requirements are obviously rather stringent, so it is anything but surprising few international brokers have sought authorization from the local authorities. Furthermore, Brazil has a somewhat tougher stance on retail forex and derivative trading compared to other regions. The country prohibits offering forex contracts for difference (CFDs) to local retail traders.

As a result of these restrictions, many residents resort to offshore brokers based in countries with more lenient regulatory frameworks. While this gives them access to a broader range of tradable assets, it also carries some risk, particularly if a broker lacks adequate enough oversight.

Forex Trading Regulators in Brazil

The Banco Central do Brasil (Central Bank of Brazil) is an autonomous entity that oversees physical foreign exchange transactions in the local currency, the Brazilian real (BRL). It maintains detailed records of all foreign exchange transactions carried out by authorized institutions in the local market. Promoting the stability of the real is another priority of the BCB. The watchdog additionally oversees the operations of settlement and clearing systems for derivatives, forex, and securities in the country. It develops Brazil’s monetary policies and functions independently from the local government.

The BCB shares its regulatory responsibilities with the Comissão de Valores Mobiliários (Securities and Exchange Commission). Created in 1976, this body is responsible for the regulation of the capital markets in the country. It promotes market development and works to ensure the efficient operations of the over-the-counter and stock markets. The CVM safeguards the interests of local investors and closely monitors the activities of all participants in the securities market. It has the remit to levy sanctions against non-compliant companies.

How to Identify Forex Brokers Authorized in Brazil

Verifying the regulatory status of forex brokers is essential as it results in higher levels of confidence, trust, and security for Brazilian traders. The process is relatively straightforward as the Securities and Exchange Commission (CVM) keeps an official register of all authorized market participants in the country. The alternative is to contact the regulator directly in order to confirm whether your chosen broker is locally authorized.

Most international brokers accepting customers from Brazil are licensed by foreign watchdogs hailing from offshore jurisdictions like the Seychelles, Belize, Vanuatu, Mauritius, and the Bahamas. Offshore licenses enable brokers to circumvent the restrictions on leverage, advertising, and certain derivative products, and asset classes. Brazilian traders can look up the public registers of these offshore regulatory bodies to ensure their broker is indeed licensed in the respective country.

Security at Brazilian Forex Brokers

The best forex brokers conducting business with Brazilian customers uphold high standards of security, transparency, and consumer protection. Such companies protect traders and their transactions with advanced encryptions to prevent cyber criminals from intercepting any sensitive information during transmission.

Brazilian traders doing business with offshore brokers should confirm the firms in question store client funds separately from their operational capital. The practice ensures traders get their money and assets back if a broker experiences financial issues or files for insolvency. Client fund segregation is beyond important, especially when dealing with offshore brokerages that do not participate in investor compensation schemes. Segregated accounts are held at reputable banks and financial institutions.

Reliable offshore brokers usually keep their customers informed about the high risk of trading with derivatives like contracts for difference. They provide extensive educational content about complex financial instruments so that retail traders get a better grasp of how they work. Risk disclosures are readily available on the websites of all trusted brokers catering to Brazilian traders. The broking firms regularly undergo external audits and submit monthly or quarterly financial reports to their regulators.

Negative Balance Protection at Brazilian Forex Brokers

A reliable broker always acts in the best interests of its clients, especially if they have access to margin trading and leverage. All brokerages that made it on our toplist provide Brazilian traders with negative balance protection, preventing their accounts from slipping into the red zone. With this safeguard in place, traders can feel confident they will never end up indebted to their brokers.

Negative balance protection ensures retail customers can never lose more money than what they have deposited in their balance. Reputable CFD brokers normally require customers to deposit a certain amount, known as maintenance margin, before allowing them to open any leveraged positions. They will automatically liquidate all losing positions at market prices when a client’s margin decreases to a given threshold, preventing their losses from mounting further.

Taxes on Forex Trading Profits in Brazil

Permanent residents of the country are liable for federal income taxes. Brazil’s tax structure is a bit complicated as the rates are progressive and tax brackets change annually. According to the latest provisional measure published by the local government, income tax rates range from 7.5% to 27.5%. A monthly income of up to 2,259.20 BRL is exempt from taxation.

Brazilian traders who find it difficult to navigate the murky tax landscape of their country should seek assistance from experienced tax advisors to avoid getting into legal trouble. We recommend you keep detailed records of all your investments and trading activities, just to be safe in case local tax authorities request this information when you report your income.

Leverage Caps at Brazilian and Offshore Brokers

The top-rated brokers on our list enable retail customers from Brazil to invest in multiple asset classes, including cryptocurrencies, exchange-traded funds, commodities, and stocks. Contracts for difference (CFDs) are also readily available to clients from this territory but with some restrictions. Some international brokers disable forex CFDs for Brazilian traders to comply with local regulatory requirements. In certain cases, residents of the country are restricted from copying currency-related positions at offshore brokers offering copy trading services.

As for the maximum leverage Brazilians can benefit from, it largely depends on individual broker policies and regulations. The ceiling on leverage offered by most offshore brokers commonly reaches 1:500 or 1:1,000, but this is not to say customers should necessarily take on such substantial risk. We advise you to use leverage more conservatively, as it can considerably magnify both your profits and losses.

How to Qualify for Professional Trading Account in Brazil

There are no clear-cut local regulatory requirements pertaining to opening professional trading accounts in Brazil. With this in mind, most offshore brokers welcoming customers from the South American country require them to satisfy several common conditions to switch from retail to professional status. Having a large enough investment portfolio is the most essential prerequisite. “Large enough” typically relates to a six-figure amount in this context.

Conducting several large-volume transactions per quarter is also necessary and so is having sufficient professional experience in the financial industry. Most brokers insist on at least one year of employment at a professional position but the exact requirements vary depending on the company’s regulatory jurisdiction.

The bottom line is applicants must possess enough experience and expertise for a broker to classify them as professional traders. A professional client must be able to make informed investment decisions on their own while being fully aware of the risk involved in derivative trading. Professional accounts typically have no access to negative balance protection, a vital aspect to consider before sending your application.

Forex Trading Platforms in Brazil

We personally tested the trading platforms our recommended brokers work with and can confirm they all deliver a solid trading experience where order execution, usability, and features are concerned. Most brokers doing business with Brazilian customers support popular third-party software like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), although cTrader is also available on occasion.


MetaTrader 4Out of the three, MT4 is perhaps the most suitable option for beginner traders, giving them instant access to forex and other financial markets via an intuitive, easy-to-use interface. The platform supports automated trading with expert advisors and internal charting, among other useful features. Dozens of technical indicators are pre-built into MT4, although more skilled traders can create custom indicators as well.


MetaTrader 5MT5 is the more advanced counterpart of its predecessor. It comes with enhanced back-testing capabilities, more order types, indicators, timeframes, and graphical objects. It also gives you access to depth-of-market information. MetaTrader 5 was mostly intended for non-forex traders, which is something to keep in mind if you plan on exclusively trading forex.


ctrader 4Choosing the cTrader platform is perhaps the best course of action for Brazilians looking to engage in copy trading. Created by Spotware, cTrader gives you instant and easy access to the portfolios of hundreds of successful strategy providers. Just keep in mind replicating the positions of most strategy providers involves copy-trading commissions.


Brazilian traders can do their own research by checking the links we provide below. There they can find additional information on forex trading regulations, along with all forex brokers approved by their local financial regulator, the Comissão de Valores Mobiliários (Securities and Exchange Commission).

  1. The SEC provides a list of all participants in the Brazilian securities market on its official website. Local traders can browse the list to check whether it features their chosen brokerages.
  2. Contact the SEC over the telephone or by visiting the regulator’s headquarters in Rio de Janeiro or its regional offices in São Paulo and Brasilia. Local traders can use these contact details to lodge complaints and report fraud or financial wrongdoing.
  3. Follow SEC on social media platforms like X, Facebook, Instagram, and LinkedIn to stay abreast of its latest announcements and regulatory decisions.
  4. Banco de Brasil shares regulatory responsibilities with the SEC and oversees physical foreign exchange transactions in the domestic currency (BRL).
Written by N. Nazifova