Best Forex Brokers That Accept Traders in Brazil

Best Forex Brokers in BrazilWhile on a quest to find a forex broker in Brazil, you are certainly going to face some challenges. In fact, you might think that it’s quite a daunting task. However, it is pretty much similar to what you’d face in any other country in the world. Part of the problem may be as a result of the limited Forex traders in Brazil.

You will find that there are a number of top forex brokers as well as commercial banks that are authorized to trade. The Central Bank of Brazil is the authorizing body. Additionally, other institutions such as tourist agencies and investing organizations may also take part in forex exchange.

Regulations

Though the Brazilian market was overly strict in matters foreign exchange market, it has since changed its stance to enable the foreign exchange trade to thrive. In 2005, the government took a huge step by introducing the CMN Resolution 3265. This allowed forex brokers in Brazil to go about their trade without having to engage in strenuous negotiations with the Central Bank.

As part of the regulatory framework that governs the Brazil forex markets, traders ought to meet certain conditions. Part of the regulatory guidelines stipulate that a trader has to be a resident of Brazil. Additionally, one should hold a Brazilian bank account and deposit the required amount of money in the local currency.

The freedom that the forex brokers now have has catapulted the growth of the foreign exchange. It is estimated that over a staggering 4.5 trillion trades take place on a daily basis.

How to choose the best forex brokers in Brazil

The excellent trading conditions mean that there are a good number of forex brokers in Brazil. As much as this might sound great, it poses a challenge when it comes to choosing the best forex brokerage to work with.

You would have to carry out some rigorous research to find the most appropriate broker. Luckily for you, we are going to list the best tips for choosing the best forex brokers in Brazil.

  • Compliance

The ultimate goal is to narrow down on your forex broker options and close in on the best through elimination. Compliance would be a great place to start. In regards to this, you should look for a broker that is not only recognized, but also registered with the relevant local regulatory authorities.

This should be easy- just get on your computer and check the regulatory body website to see if the broker you are interested in is registered. There is a section set aside to specifically enter the name of the broker and get instant results as to whether the firm is registered.

  • Services offered by the forex broker

As a trader, you ought to make certain that you find a broker who offers all the types of services that you’d want. This is why it is imperative to thoroughly check if a brokerage firm has all the options you deem satisfactory.

You need to look at the initial deposit requirements, spread, leverage, and margin. The ease of depositing and withdrawing funds is also an important aspect to look at.

10 Low Spread Forex Brokers that Accept Brazilian Traders

Broker Info Bonus Open Account
HYCM Logo Min Deposit: $100
Spread: From 0,2 Pips
Leverage: 1:200
Regulation: FCA UK (#186171), CySEC (#259/14), CIMA (1442313) and DFSA (F000048)
10% Welcome Bonus up to $5,000 Visit Broker
FBS Markets Inc forex broker Min Deposit: $1
Spread: From 0 Pips
Leverage: 3000:1
Regulation: CySEC, IFSC
$100 No-Deposit Bonus, 100% Deposit Bonus, Lucky T-shirt, iPhone 6s Plus Visit Broker
OCTAFX forex broker Min Deposit: $5
Spread: From 0.2 Pips
Leverage: 500:1
Regulation: FSA (Saint Vincent and the Grenadines), FCA UK (#679306)
50% Deposit Bonus, Real contest 1st prize Luxury car BMW X5 M, Copy trading, Trade&Win. Visit Broker
xm best forex broker Min Deposit: $5
Spread: From 0 Pips
Leverage: 500:1
Regulation: ASIC, CySEC, FCA (UK), IFSC Belize
“50% +20% deposit bonus up to $5,000, Loyalty Program Bonus Visit Broker
tickmill fx trading broker logo Min Deposit: $100
Spread: Starting 0 Pip
Leverage: 500:1
Regulation: FCA UK, FSA (Seychelles), CySEC
Visit Broker
exness forex broker review Min Deposit: $1
Spread: From 0 Pips
Leverage: 2000:1
Regulation: FCA UK, CySEC, FSP, BaFin, CRFIN
35% of the account Deposit Visit Broker
Forex.com Gain Capital review USA Min Deposit: $50
Spread: Starting 0 Pips
Leverage: up to 400:1
Regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA
Visit Broker
No Deposit Bonus Instaforex Broker Min Deposit: $1
Spread: Fixed Spread From 3 Pips
Leverage: Up to 1:1000
Regulation: CBR, CySEC and FFMS
30% Forex Deposit bonus Visit Broker
Pepperstone review best forex broker in Australia Min Deposit: $200
Spread: Starting 0 Pips
Leverage: 500:1
Regulation: ASIC Australia, FCA UK
Visit Broker
iq option best binary options brokers Min Deposit: $10
Spread:
Leverage:
Regulation: CySEC
- Visit Broker
  • Customer service

Have you ever had to deal with bad customer service at any stage of life? You probably have a clear idea of how frustrating it can get. The last thing you want is to sign up with a forex trader with bogus customer service. Fortunately, it is easy to find out if a particular broker has sound customer service.

Take some time to email and call the broker to see how fast they respond. Also, make sure that the feedback you get from them is helpful.

Customer service teams that operate for longer hours could serve you better. Remember that if issues of trade go unresolved for a long time, then it could prove to be costly.

  • Currency pairs offered

Currency pairs can make a huge difference, especially if there are specific pairs you like to work with. You do not want to miss out on your most lucrative pair. Therefore, you should check all the currencies that the broker offers before deciding whether to work with them.

  • Trading software and platforms

When it comes to trading software and platforms, you want the most user-friendly for your trading endeavors. The best forex brokers in Brazil should provide high-quality platforms developed with state of the art technology.

These are the likes of Sirix trader and the MT4. More so, you should examine the speed of execution, as you might be required to make quick successive decisions sometimes.

Also, you should examine the analytical tools that come with these platforms. You definitely want a platform that provides accurate data. Most importantly, you want an interface that is well-coiffed and easy to navigate. A demo account is an added advantage that could help you to practice and perfect your trading skills.

  • Learning resources

Great forex trade brokers want their traders to succeed. They avail numerous learning tools and resources that help traders improve their skills. While choosing a forex trader in Brazil, be on the lookout for a firm that provides plenty of such resources as this boosts your chances of succeeding.

  • Type of accounts

Lastly, the best forex broker in Brazil offers a range of accounts. The more the number of accounts, the better it is for you. Forex brokers may have a micro, mini and standard account. These accounts offer various options in terms of the minimum deposit. You should, however, check the conditions offered under the account that captures your interest diligently.

Given that there are a number of forex brokers in Brazil, the options might be a little bit confusing. This can make the search for the right broker tedious. Without having a clear picture of what criteria to use in order to identify the best broker, then it is easy to unknowingly make a mistake. Nevertheless, the insight that is provided this article should provide with enough guidelines to pick the best. The ball is now in your court as you make every tip given above count.

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