Best Forex Brokers in Brazil

Forex trading is legal and regulated in Brazil. Despite the presence of the local regulator, Forex traders might want to opt for brokers regulated by global authorities as the local regulator is not very strict. In Brazil Forex brokers and Forex trading is regulated by the Comissão de Valores Mobiliários (CVM), which is the Brazilian Securities and Exchange Commission. Additionally, the Banco Central do Brasil (Central Bank of Brazil) also plays a significant role in overseeing financial activities, including those related to foreign exchange.

Neither CVM nor the Central Bank of Brazil set any restrictions on maximum leverage for retail Forex traders which could be considered as flexible.

There is no directly responsible entity for the investor compensation scheme and traders have to rely on brokers regulated abroad. 

The taxes on capital gains including Forex and financial trading profits in general are charged progressively depending on the amount of profits. Tax rates range from 15% to 22.5% progressively. Taxpayers can get up to 20% tax reductions for a maximum amount of BRL 16,754 (Brazilian Real).

The best Forex brokers for Brazilian FX traders are globally regulated brokers overseen by international and offshore regulators. 

A quick comparison of top-rated FX brokers in Brazil

Here is the list of the best Forex brokers in Brazil based on our research and reviews.

	XM Read the review Visit broker 8.4 8.4 8.34 8.34 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.03% 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.	Tickmill Read the review Visit broker 7.6 7.6 6.29 6.29 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd. You should consider whether you understand how CFDs or our other products work and whether you can afford to take the high risk of losing your money.	Pepperstone Read the review Visit broker 8.2 8.2 7.75 7.75 Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.	FP Markets Read the review Visit broker 6.88 6.88 4.98 4.98 Trade Responsibly: Derivative products are highly leveraged, carry a high level of risk and are not suitable for all investors. Features of our products including fees and charges are outlined in the relevant legal documents available on our website. The legal documents should be considered before entering into transactions with us.
Offers accounts in Brazil under	FSC, Belize	FSA, Seychelles	SC, Bahamas	FSA, Seychelles	VFSC, Vanuatu
Account entity for Brazil	XM Global Limited	Tickmill Ltd	Pepperstone Markets Limited	First Prudential Markets Limited	FMGP Trading Group Pty Ltd
Payment methods	Bank Cards, Neteller, Skrill, UnionPay, WebMoney, XM Card	Bank Cards, Fasapay, Neteller, Skrill, UnionPay	Bpay, Credit/Debit Card, Neteller, POLi, PayPal, Skrill, UnionPay	Bank Cards, E-wallets, Fasapay, Skrill	Crypto, bank cards, PayPal, Neteller, etc.
Spreads on EUR/USD	From 1 pip	From 1.6 pips	From 0 pips	From 1 pip	From 0.9 pips
Spreads on Crude Oil	from 0.02	-	From 2.5	From 1	From 0.28
Spreads on Brent Oil	from 0.02	From 0.04	From 2.5	From 1	From 0.28
Spreads on Gold	From 2.6 pips	From 0.09 USD	From 0.5 USD	From 0.27 USD	From 0.5 USD
Spreads on BTC/USD	From 46.00	-	From 17 pips	From 15.5	From 4.16
Maximum Leverage	1:1000	1:500	1:400	1:500	1:100
Minimum Deposit	5 USD, EUR, GBP	100 USD	0 USD	100 USD	0 USD
Trading Platforms	MetaTrader 4, MetaTrader 5	MetaTrader 4, MetaTrader 5	MetaTrader 4, MetaTrader 5, cTrader	MetaTrader 4, MetaTrader 5, cTrader	MetaTrader 4

XM

 

XM Global Limited is authorized and regulated by Belize's Financial Services Commission (FSC). Since the entity accepting traders from Brazil is XM Global Limited local retail Forex traders are not limited by leverage restrictions and can get up to 1:1000 similar to professional traders. XM offers diverse asset classes including Forex, stocks, cryptos, and more.

The exact list of tradable instruments provided by the XM is listed below:

• 50 Forex pairs
• 58 Cryptocurrencies
• 1000+ stock CFDs
• 7 turbo stocks
• 8 commodities
• 20 indices
• 3 precious metals
• 3 energies
• 26 stocks from the EU

XM has several trading account types targeting traders with different trading styles. The broker also has a dedicated account for stock investing and trading with low spreads and zero commissions. 

 

 

XM

Read the review
Visit broker

8.4

8.4

8.34

8.34

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.03% 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.

 

Tickmill

 

Tickmill Ltd accepts clients from Brazil and is overseen by the FSA, Seychelles. The FSA is not very strict allowing retail traders to get maximum leverage offered by Tickmill. 

Tickmill offers access to diverse markets for Qatar residents including

• 62 Forex pairs
• 15 indices
• 7 commodities
• 500 stock and ETFs
• 15+ futures and options

The maximum leverage for all FX traders is 1:500 at Tickmill offering superior flexibility to Brazilian traders. 

 

 

 

Tickmill

Read the review
Visit broker

7.6

7.6

6.29

6.29

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd. You should consider whether you understand how CFDs or our other products work and whether you can afford to take the high risk of losing your money.

 

Pepperstone

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Pepperstone is a regulated Forex and CFDs broker accepting clients from Brazil. The entity accepting clients from Brazil is First Prudential Markets Limited and is regulated by the FSA of Seychelles. 

Trading instruments offered by Pepperstone in a wide range of asset classes include

• 62 currency pairs
• 1,000+ share CFDs
• 23 crypto CFDs
• 32 commodities
• 23 indices

The maximum leverage for all traders including retail and professional Forex traders is capped at 1:400 in Brazil. 

 

Pepperstone

Read the review
Visit broker

8.2

8.2

7.75

7.75

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

 

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FP Markets

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FP Markets is available for FX traders in Brazil. The entity accepting clients from Brazil is the First Prudential Markets Limited and is authorized and regulated by the Financial Services Authority (FSA) in Seychelles. 

FP Markets offers access to diverse financial markets and a multitude of trading instruments including

• 63 Forex pairs
• 11 cryptos
• 16 index CFDs
• 11 commodities
• 10,000 Stocks and other assets

For Forex trading, FP Markets offers two account types standard and raw. The maximum leverage for Forex traders in Brazil is 1:500 for both retail traders and professional traders.

 

FP Markets

Read the review
Visit broker

6.88

6.88

4.98

4.98

Trade Responsibly: Derivative products are highly leveraged, carry a high level of risk and are not suitable for all investors. Features of our products including fees and charges are outlined in the relevant legal documents available on our website. The legal documents should be considered before entering into transactions with us.

 

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Global Prime

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Global Prime is a very well-regulated Forex and CFDs broker that has a 4.7 score on the FPA platform. Global Prime is available for Brazilian FX traders. 

The broker offers a multitude of markets and trading instruments for speculation:

• 16 cash CFDs (indices)
• 2 future indices
• 60 Forex pairs including exotic pairs
• 40 crypto pairs
• 23 commodities
• 3 bonds CFDs

Global Prime has very decent leverage of up to 1:100 which is both flexible and less risky ensuring traders will not blow up accounts that easily.

As of now Global Prime only offers MetaTrader 4 as the trading platform, however, the broker is planning to offer cTrader, MT5, and TradingView platforms as well in the near future. 

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Best choice of the broker in Brazil for each Category

So far we have listed the best Forex brokers that accept clients from Brazil, but we will focus on the winner for each of the categories. These categories include best brokers for FX trading, stock trading, commodities, and cryptos. By referring to the tables below, our readers will have a clear understanding of which broker to select based on their trading asset.

Best Broker in Brazil for Forex Trading

Global Prime has the lowest spreads on EUR/USD on standard accounts. All the brokers also offer 0 pips spread accounts with similar commissions of around 6-7 USD round turn.

Best Broker in Brazil for Stock Trading

For trading stocks, XM offers the best combination of low spreads and 0 commissions. 

Best Broker in Brazil for commodities Trading

While XM is the best Forex broker for energies trading with its ultra-low spreads, Tickmill takes the place for its lower spreads on Gold. 

Best Broker in Brazil for Crypto Trading

Global Prime offers the lowest spreads on the BTC/USD pair as it offers crypto trading through crypto exchanges including Coinbase, CoinSpot, Gemini, and Binance.

How do you check whether the broker is regulated by the CVM of Brazil?

There are several ways to check whether the broker is regulated in Brazil. However, the local regulator is not as strict as global regulators, and this is why it is critical to opt for brokers that are licensed elsewhere. The most prominent brokers are listed on this page with strong regulations and safety. 

All CVM-regulated broker reviews in Brazil

Here is the list of all Forex brokers that are regulated by the Comissão de Valores Mobiliários (CVM) and/ or the Central Bank of Brazil.