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Best Forex Brokers Brazil for 2022

Steven Hatzakis

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

October 05, 2022

The annual forex broker review (six years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. 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: We recommend Brazil residents also follow the CVM on Twitter,


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 65% and 82% 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.

2022 annual review badge
  • IG
    - Best overall broker, most trusted
  • Saxo Bank - Best web-based trading platform
  • Interactive Brokers
    - Great overall, best for professionals
    - Excellent all-round offering
  • XTB - Great research and education
  • AvaTrade - Great for beginners and copy trading
  • FP Markets - Excellent pricing, 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 the firm's Overall ranking.

Company Accepts BR Residents Average Spread EUR/USD - Standard Minimum Initial Deposit Overall Rating Visit Site
IG logoIG check 0.86 (September 2022) £250.00 5 Stars Visit Site
Saxo Bank logoSaxo Bank check 0.9 (September 2022) €2,000 5 Stars
Interactive Brokers logoInteractive Brokers check 0.6 (Aug 2022) $0 5 Stars Visit Site check 1.0 (July 2022) $100 5 Stars Visit Site
XTB logoXTB check 1.07 (Q3 2022) $0 5 Stars
AvaTrade logoAvaTrade check 0.91 (Aug 2020) $100 4.5 Stars
FP Markets logoFP Markets check 1.2 (August 2022) $100 AUD 4.5 Stars
Admiral Markets logoAdmiral Markets check 0.8 (July 2021) $100 4.5 Stars
IC Markets logoIC Markets check 0.62 (August 2021) $200 4.5 Stars check 0.6 (July 2021) $20 4.5 Stars
XM Group logoXM Group check 1.6 (Aug 2020) $5 4.5 Stars
Tickmill logoTickmill check 0.51 (August 2022) $100 4 Stars
HYCM (Henyep) logoHYCM (Henyep) check 0.6 (Sept 2021) $100 4 Stars
HFM logoHFM check 1.2 (August 2021) $5 4 Stars
FlowBank logoFlowBank check N/A $0.00 4 Stars
Vantage logoVantage check 1.22 (August 2021) $50 4 Stars
Moneta Markets logoMoneta Markets check 1.27 (September 2022) $50 4 Stars
Trade Nation logoTrade Nation check 0.6 $0 4 Stars
ACY Securities logoACY Securities check 1.2 (Sept 2021) $50 4 Stars
Eightcap logoEightcap check 1.0 (Aug 2022) $100 4 Stars
easyMarkets logoeasyMarkets check 0.9 (as of Mar 2020) $100 4 Stars
Libertex (Forex Club) logoLibertex (Forex Club) check -1 $10 3.5 Stars

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.

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For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research.

Each broker was graded on 113 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read more about Trust Score here.

As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.

Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. 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 Author

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for 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

John Bringans is the Senior Editor of 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

Joey Shadeck is the Content Strategist and Research Analyst for 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.

Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. Please read the full Risk Disclosure.