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Best Forex Brokers Brazil for 2023

Steven Hatzakis

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

May 24, 2023

ForexBrokers.com has been reviewing online forex brokers for over six 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.

Securities-and-Exchange-Commission-of-Brazil.jpg

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.

  • IG
    - Best overall broker, most trusted
  • Saxo Bank - Best web-based trading platform
  • FOREX.com
    - Excellent all-round offering
  • XTB - Great research and education
  • AvaTrade - Great for beginners and copy trading
  • XM Group - Good for algo trading
  • Pepperstone - Great for MetaTrader and copy trading

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 ForexBrokers.com Overall ranking.

Company Accepts BR Residents Average Spread EUR/USD - Standard Minimum Deposit Overall Rating Visit Site
IG logoIG check 0.86 £250.00 5/5 Stars Visit Site
Saxo Bank logoSaxo Bank check 0.9 €2,000 5/5 Stars
FOREX.com logoFOREX.com check 1.0 $100 5/5 Stars Visit Site
XTB logoXTB check 1.07 $0 5/5 Stars
AvaTrade logoAvaTrade check 0.92 $100 4.5/5 Stars
XM Group logoXM Group check 1.6 $5 4.5/5 Stars
Pepperstone logoPepperstone check 0.77 $200 4.5/5 Stars
Admiral Markets logoAdmiral Markets check 0.8 $100 4.5/5 Stars
FP Markets logoFP Markets check 1.2 $100 AUD 4.5/5 Stars
IC Markets logoIC Markets check 0.62 $200 4.5/5 Stars
Tickmill logoTickmill check 0.51 $100 4.5/5 Stars
HFM logoHFM check 1.2 $0 4/5 Stars
FlowBank logoFlowBank check N/A $0.00 4/5 Stars
HYCM (Henyep) logoHYCM (Henyep) check 0.6 $100 4/5 Stars
Eightcap logoEightcap check 1.0 $100 4/5 Stars
Trade Nation logoTrade Nation check 0.6 $0 4/5 Stars
Moneta Markets logoMoneta Markets check 1.27 $50 4/5 Stars
ACY Securities logoACY Securities check 1.2 $50 4/5 Stars
easyMarkets logoeasyMarkets check 0.9 $100 4/5 Stars
Libertex (Forex Club) logoLibertex (Forex Club) check N/A $10 3.5/5 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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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 and detailed forex guides, and we monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).

Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). 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.

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 overall Trust Score.

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
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

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

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.


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.

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