Best Forex Brokers in Brazil for 2024

Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Joey Shadeck

April 26, 2024

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 74% 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.

• IG
  - Best overall broker, most trusted
• Interactive Brokers
  - Great overall, best for professionals
• FOREX.com - Excellent all-round offering
• XTB - Great research and education
• AvaTrade
  - Great for beginners and copy trading
• FXCM
  - Excellent trading platforms and tools
• Admirals - Great for MetaTrader

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	Visit Site
IG	check	0.98 info	£250.00		Visit Site
Interactive Brokers	check	0.63 info	$0		Visit Site
FOREX.com	check	1.4 info	$100
XTB	check	1.00 info	$0 info
AvaTrade	check	0.92 info	$100		Visit Site
FXCM	check	0.74 info	Starts from $50		Visit Site
Admirals	check	0.8 info	$100
Pepperstone	check	0.77 info	$200		Visit Site
XM Group	check	1.6 info	$5		Visit Site
FP Markets	check	1.1 info	$100 AUD		Visit Site
IC Markets	check	0.62 info	$200		Visit Site
Tickmill	check	0.51 info	$100		Visit Site
HYCM (Henyep Capital Markets)	check	0.6 info	$20
HFM	check	1.2 info	$0		Visit Site
FlowBank	check	N/A info	$0
Trade Nation	check	0.6	$0
Moneta Markets	check	1.27 info	$50
Eightcap	check	1.0 info	$100		Visit Site
ACY Securities	check	1.2 info	$50		Visit Site
easyMarkets	check	0.9 info	$50
IFC Markets	check	1.44 info	$1
Libertex (Forex Club)	check	N/A info	$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.

All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Read our Generative AI policy to learn more.

Read our full explanation and accounting of our research and testing process to learn more about how we test.

About the Editorial Team

Steven Hatzakis

Steven Hatzakis is the Global Director of 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

John Bringans is the Senior Editor of ForexBrokers.com. An experienced media professional, John has close to 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

Joey Shadeck is the 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.