IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Tickmill
FP Markets
PepperstoneBest Forex Brokers in Brazil for 2024
Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Joey Shadeck
ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.
Trading forex (currencies) in Brazil is popular among residents. While recommended, forex brokers are not required to become authorised by the Securities and Exchange Commission of Brazil (CVM) to accept residents of Brazil as customers. Clique aqui para tradução em português.
The Securities and Exchange Commission of Brazil is the financial regulatory body in Brazil. Website: http://www.cvm.gov.br. We recommend Brazil residents also follow the CVM on Twitter, https://twitter.com/cvmgovbr.
The CVM was established in 1976 and regulates the capital markets in Brazil, including stock exchanges, public companies, financial intermediaries, and investors. For a historical breakdown, here's a link to the Securities and Exchange Commission of Brazil webpage on Wikipedia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best Forex Brokers Brazil
To find the best forex brokers in Brazil, we created a list of all brokers that list Brazil as a country they accept new customers from. We then ranked brokers by their Overall ranking.
Here is our list of the best forex brokers in Brazil.
Brazil Forex Brokers Comparison
Compare Brazil authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by my Overall rankings of the top forex brokers.
| Company | Accepts BR Residents | Average Spread EUR/USD - Standard | Minimum Deposit | Overall Rating |
 IG
|
0.98 | £250.00 |
|
|
 Interactive Brokers
|
0.63 | $0 |
|
|
 FOREX.com
|
1.4 | $100 |
|
|
 XTB
|
1.00 | $0 |
|
|
 AvaTrade
|
0.93 | $100 |
|
|
 Pepperstone
|
1.10 | $0 |
|
|
 XM Group
|
1.6 | $5 |
|
|
 Admirals
|
0.8 | $100 |
|
|
 FP Markets
|
1.1 | $100 AUD |
|
|
 Tickmill
|
0.51 | $100 |
|
|
 IC Markets
|
0.62 | $200 |
|
|
 Vantage
|
1.30 | $50 |
|
|
 HYCM (Henyep Capital Markets)
|
1.2 | $20 |
|
|
 HFM
|
1.2 | $0 |
|
|
 Questrade
|
N/A | $250 |
|
|
 ActivTrades
|
0.98 | 0 |
|
|
 Trade Nation
|
0.6 | $0 |
|
|
 Eightcap
|
1.0 | $100 |
|
|
 Moneta Markets
|
1.38 | $50 |
|
|
 Exness
|
N/A | $10 |
|
|
 easyMarkets
|
0.8 | $50 |
|
|
 IFC Markets
|
1.44 | $1 |
|
|
 Libertex (Forex Club)
|
N/A | $10 |
|
How to Verify CVM Authorisation
Unfortunately, the CVM does not provide a list of authorized forex brokers; however, residents can contact the CVM directly to verify authorisation.
Compare Brazil Brokers
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Methodology
At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Our research team, led by Steven Hatazkis, conducts thorough testing on a wide range of features, products, and services. We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. Our research team collects and validates thousands of data points each year.
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s regulatory status and number of held regulatory licenses.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go.
We also test on mobile devices; for Apple, we test using the iPhone XS running iOS 16, and for Android we use the Samsung Galaxy S9+ and Samsung Galaxy S20 Ultra devices running Android OS 13.
Read our full explanation and accounting of our research and testing process to learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.
About the Editorial Team
Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
John Bringans is the Managing Editor at ForexBrokers.com. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
Joey Shadeck is a Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.