Table of contents

Best FOREX Brokers in Brazil 2024

With many years of meticulous FOREX broker testing, Arincen stands out as a voice of authority. Our analyses, shaped by exhaustive data collection, are trusted by many. Each year, we gather 120 data points from more than 100 brokers. Our team of more than 20 people collaborate extensively to produce high-quality broker reviews like this one. For a detailed explanation of how we test brokers, navigate to the bottom of this article.

Now is the right time to find out about the best FOREX brokers in Brazil. Every day, the FOREX world becomes that much more competitive because new brokers join the fray, and established ones improve their products. For you, the user, this means more variety of choices, but this also means that making your choice is not that simple.
At Arincen, we are always striving to simplify the world of trading. For this reason, we will be listing the best FOREX brokers in Brazil today. This ranking is the result of a detailed review process carried out by our in-house experts. We will share our review methodology so you can understand why we chose the companies we did

Best FOREX Brokers in Brazil in 2024

Company name ICM Capital
Regulations
Minimum deposit 500$
Main branch United Arab Emirates
Company name FXDD
Regulations
Minimum deposit $450
Main branch USA
Company name XTB
Regulations
Minimum deposit 500$
Main branch UK
Company name IG
Regulations
Minimum deposit 500$
Main branch UK

Top Tips for Choosing the Best FOREX brokers in Brazil

There are lots of excellent FOREX brokers working in Brazil. As always, you must protect your interests by working with a broker who has a strong track record of abiding by local regulations and keeping your funds safe. The key is to conduct detailed research to separate good candidates from bad ones. Here are some of the most important factors to take into consideration when choosing a broker:

Best FOREX Brokers in Brazil in 2024

With so many choices out there, it's tough to select the right broker. It's a good thing we've done the work for you. Here is a summary of each broker according to specific criteria, along with their pros and cons
ICM capital Broker

ICM capital Broker

ICM Capital is considered the industry leader in deposits and withdrawals, whereby each withdrawal does not take more than five business days. Moreover, the company offers its customers a handy credit card to withdraw their profits, in addition to enabling customers to use various deposit methods. The company, which is licensed by the UK's FCA, has several branches around the world. Among other things, it has a rich portfolio of assets, especially stocks, offers a low spread, as well as the ability to use MT4.
Broker Evaluation 8.11
Regulatory Bodies
Minimum Deposit 500$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
Main Branch United Kingdom
Customer Service 24/5
Demo account yes
Trading Platforms MT4 - MT5 - C TRADER -Web Platform

Pros

  • Segregated client funds.
  • Regulated by the UK’s FCA.
  • Established in 2009.
  • More than 10,000 ICM Capital users and traders.
  • Reasonable minimum deposit from $500.
  • Decent funding options.
  • No swaps.
  • MetaTrader4 (MT4) desktop and mobile download.

Cons

  • Does not allow scalping.
  • Not ASIC-regulated.
  • Relatively limited range of instruments.
  • Slow live-chat service.
  • Relatively high trading fees.
  • Limited range of trading tools and resources
FXDD Broker

FXDD Broker

FXDD received the highest score in our survey (92.15). One of the first FOREX companies to offer a credit card in order to allow traders to withdraw their profits, this New York-based company has the UK's FCA license under its belt. It also has a rich portfolio of assets, offers a relatively low spread, in addition to the MetaTrader4 (MT4) platform. Further, it has excellent and fast customer service, and also offers traders a variety of ways to deposit money.
Broker Evaluation 7.22
Regulatory Bodies
Minimum Deposit $450
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
Main Branch United States of America
Customer Service 24/5
Demo account Yes
Trading Platforms MT4 - MT5 - C TRADER -Web Platform

Pros

  • Established in 2002.
  • Segregated client funds.
  • Low minimum deposits.
  • No commissions on the Standard Account.
  • A choice of two account jurisdictions.
  • Multiple platform support and comprehensive market data and analysis.
  • A good range of currency pairs and other assets to trade.

Cons

  • Not available to traders in the US.
  • Relatively limited range of instruments.
  • EU-client leverage restricted to 1:30.
XTB Broker

XTB Broker

What distinguishes XTB is the fact that it offers the best customer experience among all the companies we have surveyed. Indeed, it boasts the fastest response rate from all the companies under investigation. This is especially relevant, since the market is always on-the-go, and so you need to act fast. XTB offers lots of asset classes, as well as the ability to use the MT4 trading platform. Finally, it maintains a relatively low spread, which is suitable for quick deals.
Broker Evaluation 8.55
Regulatory Bodies
Minimum Deposit 500$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks
Main Branch United Kingdom
Customer Service 24/5
Demo account yes
Trading Platforms MT4 - MT5 -Web Platform

Pros

  • Long history of operation.
  • Globally recognized, having won multiple awards.
  • Some of the lowest FOREX spreads in the market.
  • Regulated by the FCA (UK).
  • Offers protection for client accounts.
  • Emphasis on customer service.
  • Excellent support, learning and research tools.

Cons

  • Does not accept US clients.
  • Non-FOREX spread costs are relatively high.
  • No GSLO.
  • No back-testing or automated trading capabilities.
  • Conditions vary according to regulation and entity.
ig markets Broker

ig markets Broker

IG is arguably the best broker when it comes to security and trust, boasting, as it does, licenses from 10 regulatory bodies, including the all-important FCA from the UK. The company is also a bank and is a publicly traded company in London. It is known for offering more than 10,000 asset classes of currencies, commodities, future contracts, ETFs, indices, cryptocurrencies etc. Further, it has its own state-of-the-art trading platform and offers a relatively low spread.
Broker Evaluation 7.54
Regulatory Bodies
Minimum Deposit 250$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks
Main Branch United Kingdom
Customer Service 24/5
Demo account Yes
Trading Platforms Proprietary Platform -MT4 - Web Platform

Pros

  • Easy-to-navigate platform that is simple for beginners to master.
  • Margin rates are easy to understand and affordable.
  • Mobile and tablet platforms offer full functionality of the desktop version.
  • Accepts US clients.
  • Access to more than 100 currency pairs
  • Emphasis on education and research.
  • Regulated by the FCA (UK), as well as the CFTC and the NFA (US).
  • Offers protection for UK/EU client accounts.

Cons

  • US traders can currently only trade FOREX.
  • No GSLO for US-based traders.
  • No account protection for US clients.
  • Relatively high share-CFD fees.
  • No copy trading or back-testing integration on IG platform.
SAXO BANK Broker

SAXO BANK Broker

Saxobank is considered one of the best investment banks in the area of financial markets and currencies, as it offers the very best trading platform and tools from all the companies we have reviewed. Meanwhile, its spread is very low and, as such, suitable for short-term deals; and it offers a large number of asset classes, including currencies, commodities, indices etc. Finally, its customer service is excellent and very responsive to traders' needs.
Broker Evaluation 6.09
Regulatory Bodies
Minimum Deposit 10000$
Islamic Account No
Payment Methods Bank transfer - credit card
Main Branch Copenhagen, Denmark
Customer Service 24/5
Demo account No
Trading Platforms SaxoTrader

Pros

  • Extensive range of offerings.
  • Regulated by the FCA (UK) and other top regulators.
  • Great trading platform.
  • Among the industry’s best research.
  • Superior user interface.
  • Offers protection for client accounts.

Cons

  • High bond, options and futures fees.
  • Lack of emphasis on customer service.
  • Confusing instrument fee structures.
  • High minimum deposit.
  • Does not accept US clients.
  • No MT4.
  • Lacks live chat.
CMC MARKETS Broker

CMC MARKETS Broker

CMC Markets is thought of as one the best companies, offering some 9,000 asset classes that encompass currencies, commodities, indices, cryptocurrencies, bonds and stocks. The company offers a relatively low spread, the MT4 platform, and fast customer service. It is most suited for traders looking for diversity in asset classes.
Broker Evaluation 7.07
Regulatory Bodies
Minimum Deposit 0$
Islamic Account No
Payment Methods Bank transfer - credit card - Electronic Banks
Main Branch United Kingdom
Customer Service 24/5
Demo account not
Trading Platforms Proprietary Platform -MT4 - Web Platform

Pros

  • Extensive range of offerings.
  • Regulated by the FCA (UK).
  • Low FOREX fees.
  • Emphasis on education and customer service.
  • Great Web and mobile platforms.
  • Offers protection for client accounts.
  • Research amenities are industry leading.

Cons

  • Does not accept US clients.
  • Limited product portfolio.
  • High stock CFD fees.
  • High CFD spreads for certain indices.
  • Differences between Next Generation and MT4.
  • Complicated account verification.
  • No back-testing or automated trading capabilities.
think markets Broker

think markets Broker

Originally founded in New Zealand in 2010, and moving to Australia within the space of their first two years, Think Markets is a global online brokerage focusing on FOREX and CFD trading. In addition to a range of major and minor currency pairs. Think Markets has an array of CFDs on offer. This includes indices, as well as hard and soft commodities.
Broker Evaluation 8.05
Regulatory Bodies
Minimum Deposit 0$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
Main Branch Australia
Customer Service 24/5
Demo account not
Trading Platforms Proprietary Platform -Web platform-mt4- mt5

Pros

  • Beginner assistance offered through 24/6 channels.
  • Spreads are as low as 0.0 pips.
  • 24/7 expert customer service.
  • CFD shares and indices come at no extra fee.
  • Zero broker fees for FOREX trading.
  • Technical analysis and quality market information.
  • Percentage allocation management module (PAMM) and Multi-account manager (MAM) accounts available.

Cons

  • Direct share trading is on a separate platform.
  • No binary options offered.
  • Commissions charged for two account types.
  • After a strong early start, ThinkTrader user ratings have slid to 3.4 stars.
  • No US, Canada or Japan clients allowed.

There is a high degree of risk involved in trading securities like FOREX, or CFDs, which are highly complex instruments. As a trader, you could be exposed to excessive leverage, questionable broker tactics, market volatility, and limited regulatory protection. Despite your best trading techniques and risk management strategies, your efforts may not be profitable, and you could suffer losses.

What is FOREX and Why Do We Need a Broker to Trade?

The foreign exchange market is a decentralized marketplace where institutional and retail traders buy and sell global currencies. Currency trading is conducted electronically over the counter (OTC). This means that all transactions occur via computer networks between traders all over the world rather than on one centralized exchange. The FOREX market operates 24 hours a day and five days a week (Monday to Friday), except for international holidays. It is the largest financial market in the world with some six trillion dollars changing hands daily. Many of the best FOREX brokers in Brazil play a key role in this marketplace by enabling you to buy and sell through a trading platform. Most trading platforms are accessible in web and mobile format. 
Best FOREX Brokers in Brazil

How to Open a Trading Account to Start Trading FOREX?

Opening a FOREX trading account is easy. Once you have chosen your preferred broker, you must start by filling out an application form as part of the ‘open account’ process. It is normal that you will be asked to provide some personal documents. These are usually your national identity documents and proof of address. This is part of Know Your Customer (KYC) regulations. Remember that some brokers have slightly different requirements than others.
Once your account has been approved, normally one to two days after you make the application, you will be able to fund your account by making the first deposit. After that, your trading journey can begin! 

How Much Should Beginners Trade With?

You don’t need much to get started. Some of the best FOREX brokers for beginners allow you to start trading with as little as $1. Naturally, you can't get very far with $1, even if you trade on margin. So, you need to capitalize your account with at least some money that will allow you to place trades. The amount is really up to you. However, it is recommended that you start by placing small trades to get to grips with the practice of trading as well as becoming familiar with your broker’s website before you move on to placing trades with more money.

How to Start Learning About FOREX Trading

A trading website like en.Arincen.com is a great place to start. We have a large list of curated articles that can give you all the information you need on common FOREX trading terms like pips, spreads, leverage, and support and resistance. We have also taken the time to prepare detailed articles on important topics such as FOREX trading strategies. Additionally, once on our website, you will find helpful video courses that cover the basics of FOREX trading. With this range of knowledge, you will be well on your way to starting life as a trader.
Remember also that your broker will normally have developed a detailed education and research repository themselves. That is also a good place to bolster your FOREX knowledge, with the extra benefit that your broker’s information will be slanted toward their own platform and resources, which makes it doubly useful.

Tip: Invest in Your knowledge
For every aspiring retail trader, knowledge is key to a successful trading journey. We invite you to delve into Arincen's goldmine of insights, strategies, and expert analyses. Whether you're just embarking on your trading venture or trying to level up your trading game, our resources are designed to give you all the information you need. Visit our educational resources here.

Can You Trade Without Prior Experience?

It is always advisable to keep expanding your experience in the world of trading. The Arincen network was created for those who don’t have enough experience to trade on their own. This is because you can follow the experts on our network and apply their signals and strategies in your trading account with ease, and you can review the statistics of the experts and review their history to ensure they are good for trading the assets you want. For example, if you prefer to trade only in gold or any other group of assets, you can review the best gold experts and traders in the network.

Tip for those who have no experience
We believe that a solid foundation in education and research is essential for every successful trader. That’s why we’ve created a set of resources specifically for you. Our comprehensive articles provide an understanding of the basics, while our videos offer insights from industry insiders. Stay updated with the latest developments in the market through our newsfeed, signals, and detailed analytics.

How Do I Choose the Best FOREX Broker in Brazil?

Brazil has a large open economy that is developed, market-oriented, and dependent on international trade. It is the largest economy in South America. This country of roughly 215 million people has a diverse economy, with agriculture, tourism, and manufacturing being some of the major industries.
The country is known for its high-quality agricultural products, with iron ore, soybeans, sugar, and petroleum being major exports. It also has a well-developed tourism industry, with many visitors attracted to its vibrant beaches and excellent weather.
The Brazilian market is closely regulated, thanks to the Central Bank of Brazil. A FOREX transaction can only be executed if the company is licensed by the Central Bank because the Central Bank of Brazil is responsible for all of the regulatory oversight in the region.  Furthermore, the trader will have to be a resident of Brazil and have a Brazilian bank account with their deposits available in the local currency.

Regulation and Licensing

FOREX brokers who offer their services to Brazilian citizens must be regulated by the Securities and Exchange Commission of Brazil (CVM) as we as the Brazilian Central Bank. Regulated brokers must follow common best practices, such as keeping their operating funds separate from client funds and complying with strict leverage rules.
It is always a good sign if your broker is active in other countries and has been regulated by other tier-1 bodies like the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC), which are two of the best regulators in the world.
The regulators that oversee FOREX trading also regulate other financial assets, such as crypto, commodities, and indices. If you want to learn more about some of the best-regarded regulators, read our article on regulation here. Remember that you do not have to use a broker with international regulation if your local broker is regulated by the CVM.
To verify the credibility of your broker, consider these steps:
It's essential to adhere to all relevant guidelines, not just the ones highlighted here, including those set by broker-associated organizations.

Make sure your broker is regulated by a reputable authority. Not all brokers are regulated by tier-one regulators, but you can still rest easy if your broker works with the regulator in your area. To verify if your broker is registered with a regulator, navigate to the regulator’s official website.

Leverage

Depending on the regulator under which your broker works, you will encounter different policies relative to leverage. Key regulators have implemented specific rules to limit the leverage offered to retail traders as a means of consumer protection. Remember, even if your broker is not regulated by these international brokers, as long as they are regulated by a competent local regulator, that’s a good enough start.
Here are selected leverage rules according to some key regulators:
CVM Brazil:
Between 50:1 and 100:1 for FOREX traders, which is significantly higher than the leverage provided in the equities and futures markets.
FCA UK: 
30:1 for major currency pairs
20:1 for non-major currency pairs, gold, and major indices
Australian Securities and Investments Commission (ASIC) Australia:
30:1 for major currency pairs
20:1 for non-major currency pairs, gold, and major indices
Swiss Financial Market Supervisory Authority (FINMA) Switzerland:
FINMA has not set specific leverage limits like the FCA or ASIC. However, Swiss brokers must adhere to rigorous capital and risk management requirements, ensuring they don't offer excessively high leverage that could endanger their solvency or their clients' funds.
It's important to note that these regulations primarily apply to retail clients. Professional or institutional clients may have access to different leverage levels based on the regulatory environment and the broker's policies. As you can see, responsible regulators closely monitor leverage levels. However, you can still use the regulator in your country, even if it is not under a tier-one regulator.

High leverage can amplify potential profits, but it equally magnifies potential losses. It can put a stop to your trading career if not used carefully. The allure of high returns is tempting, but the risk associated with such strategies is highly dangerous. We strongly urge traders to approach leverage with caution, fully grasping its mechanics and implications.

Stop Out

A stop out is when your broker executes a stop-loss order, which happens when a trade reaches a user-defined trigger point, leading to the automatic or manual closure of the position to protect your capital. This is an unwanted situation. It basically means the broker is trying to stop you from losing more of your money, and theirs. Here are some of the most common levels:
Stop out of 0%
Your broker won't close any of your positions, even if your margin level reaches rock bottom. This is because some brokers allow you to end up in the red, which means you might owe them money if your trades keep losing.
Stop out of 50%
Once your equity dwindles to half of your used margin, the stop-out alarm goes off. Your broker steps in and starts closing your trades, beginning with those least profitable. This continues until your margin level bounces back above the stop-out level.
Stop out of 100%
When your margin level hits 100%, your broker takes the drastic step of automatically closing all your open positions. In some setups where the broker separates margin-call and stop-out levels, the margin call happens at 100% and the stop out at 50%. If your margin level plunges to 50%, your trading platform springs into action with a stop out, closing your trade at the market price.
Keep in mind that the specific percentage and the order in which positions get closed can vary from broker to broker. So, traders must know their broker's stop-out policy. It's worth noting that while stop-out measures are designed to shield traders from going into the red, they can also result in substantial losses, especially in volatile markets where positions are swiftly closed automatically, especially if the market suddenly reverses post-stop out. That's why you should always employ protective strategies like setting stop-loss orders and avoiding excessive leverage.

Commissions and Fees

Trading fees are not always easy to monitor. Be sure to check how these fees compare with other brokers:
Spreads: In FOREX trading, a spread is the difference between the price at which a trader can buy (ask) and the price at which they can sell (bid) a currency pair. The spread can be categorized into two main types: fixed and variable.
Fixed Spreads: As the name suggests, fixed spreads remain constant regardless of market conditions. They don't change during the day and are generally set by the broker. Fixed spreads are preferred by some traders because they provide predictability, especially during times of high market volatility.
Variable Spreads: These spreads fluctuate based on market conditions. During times of low liquidity or high volatility, variable spreads can widen. However, during times of high liquidity and normal market conditions, the spreads can be very narrow. This type of spread is a direct reflection of market supply and demand.
Why do they differ?
The main reason they differ is due to their reaction to market conditions. Fixed spreads don't react to the market, giving traders a consistent spread cost. On the other hand, variable spreads can offer lower costs during normal market conditions but can widen and become more expensive during volatile times.
Example of Good vs. Worse Spreads for EUR/USD:
A good spread for the EUR/USD currency pair might be around 1.4 pips. This means that if the bid price is 1.1000, the ask price would be 1.10014.
A worse spread could be significantly higher, let's say 3.0 pips or more. In this scenario, if the bid price is 1.1000, the ask price would be 1.1003.
Traders always prefer narrower spreads because the cost of entering and exiting a trade is lower. However, it's essential to consider other factors, like the broker's reliability, platform features, and overall trading conditions when choosing between brokers offering different spreads. This article explains more about this important concept.
Commission: This is nothing more than the service charge that brokers require for carrying out transactions on behalf of their clients.
Rollover fees: When you leave a trade open overnight, the broker normally charges a rollover fee for the facility of holding your trade open for that period. This is because they assume the risk of the market changing adversely.
Withdrawal and Deposit Fees: Some platforms might charge fees for depositing or withdrawing funds. Pay attention to this. It's important to be aware of these and any associated limits or conditions.
Subscription or Inactivity Fees: Certain platforms have monthly charges or fees for inactive accounts. Ensure you're aware of these potential costs.
Spread Commission Swap Islamic Account
Currencies Starting from 0.4 Pips 0$ No Available
Stocks Starting from 0.04 Pips 0$ Yes Unavailable
Commodities Starting from 0.17 Pips 0$ No Available
Indices Starting from 1.30 Pips 0$ No Available
Spread Commission Swap Islamic Account
Currencies Starting from 1.3 Pips 0$ No Available
Stocks Starting from 18 Pips 0$ Yes Unavailable
Commodities Starting from 2.3 Pips 0$ No Available
Indices Starting from 4 Pips 0$ Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.2 Pips 0$ No Available
Stocks Not Mentioned 0$ Yes Unavailable
Commodities Starting from 8 Pips 0$ No Available
Indices Starting from 4 Pips 0$ Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.6 Pips 0$ Yes Unavailable
Stocks Starting from 2.4 Pips 0$ Yes Unavailable
Commodities Starting from 0.1 Pips 0$ Yes Unavailable
Indices Starting from 0.2 Pips 0$ Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.9 Pips $0 Yes Unavailable
Stocks Starting from $0.02 $6 Yes Unavailable
Commodities Starting from $0.6 $6 Yes Unavailable
Indices Starting from $0.7 $6 Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.5 Pips $0 Yes Unavailable
Stocks Starting from $0.2 $10 Yes Unavailable
Commodities Starting from 0.2 Pips $0 Yes Unavailable
Indices Starting from 0.5 Pips $0 Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.4 Pips $0 Yes Unavailable
Stocks Starting from 0.1% $0 Yes Unavailable
Commodities Starting from $0.19 $0 Yes Unavailable
Indices Starting from 0.4 Pips $0 Yes Unavailable

Tradable Assets and Instruments

Retail trading offers a diverse range of financial instruments, each with its own set of opportunities and challenges. Here are the most common tradable assets and instruments offered by the best FOREX broker:
Note that FOREX brokers must diversify what they offer you as many traders look for access to many different types of financial assets.
With the largest trading volume globally, the FOREX market allows traders to speculate on the future movements of currency prices, trading pairs like EUR/USD, GBP/JPY and many more.
Whether it's precious metals like gold and silver, or energy commodities like oil and natural gas, commodities trading offers a chance to profit from the tangible assets that drive global economies.
CFD trading allows you to speculate on the rising or falling prices of fast-moving global financial markets, such as shares, indices, commodities, currencies and treasuries. You don’t own the underlying asset and you can go short or long. CFD brokers typically provide a wide range of financial instruments across different asset classes, allowing traders to diversify their portfolios with ease.
These represent ownership in a company and constitute one of the most popular avenues for retail traders, given their potential for substantial returns and the thrill of being a part of the corporate world.
These are baskets of stocks representing a particular market or sector, like the S&P 500 or the Nasdaq, giving traders exposure to broader market movements.
Digital coins like Bitcoin, Ethereum and countless altcoins offer both high rewards and volatility.
These debt securities offer periodic interest to holders and return the principal amount at maturity. Bonds are best for those interested in fixed returns.
These derivative products allow traders to hedge against potential losses or speculate on price movements without owning the underlying asset.
Brokers Currency pairs Stocks Indices Commodities Crypto ETFs
FXDD 67 Pairs 1100 Shares 45 Indices 10 Commodity 30 Coins 1200 ETFs
ICM Capital 67 Pairs 89 Shares 17 Indices 12 Commodity 6 Coins Unavailable
XTB 57 Pairs 1848 Shares 36 Indices 22 Commodity 22 Coins 135 ETFs
IG 108 Pairs 20000 Shares 200 Indices 20 Commodity 5 Coins 200 ETFs
Saxo Bank 320 Pairs 22000 Shares 200 Indices 200 Commodity 9 Coins 6700 ETFs
CMC Markets 330 Pairs 8000 Shares 80 Indices 100 Commodity 18 Coins 200 ETFs
Think Markets 46 Pairs 3750 Shares 15 Indices 11 Commodity 21 Coins 350 ETFs

Payments, Deposits, and Withdrawals in Brazil

In general, the payment deposit and withdrawal process in Brazil is relatively straightforward and convenient. Traders in Brazil can typically make deposits using a variety of methods, including credit/debit cards, bank transfers, and e-wallets. They can also generally withdraw their funds using the same payment methods that were used for deposits. Withdrawal processing times can vary, depending on the broker and the payment method used, but typically range from a few hours to a few days. The process is mostly trouble-free, but you should always check with your broker to understand the specific requirements and fees associated with the payment process. It should be noted, however, that for Brazilian FOREX traders, you must be resident in the country to trade with a Brazil-registered broker, and you must also have a Brazilian bank account.
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee $0 $0 + Bank commission 0$ 0$ 0$ Unavailable
Withdrawal fee $30 $30 $30 $30 $30 Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission 1.9% 2.5% Unavailable 3.75%
Withdrawal fee 0$ $15 1% $0 Unavailable 2%
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission 1% 1% Unavailable Unavailable
Withdrawal fee 1.5% 30$ 1% 1% Unavailable Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable 3.4% + fixed fee
Withdrawal fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable 3.4% + fixed fee
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Withdrawal fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Withdrawal fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission 0$ 2.5% Not mentioned Unavailable
Withdrawal fee 0$ $0 + Bank commission 5.50$ 0-7.5% Not mentioned Unavailable

FOREX Trading Customer Service

The last thing you want is to be deep in a trading session that is looking promising, only to be derailed by a technical or an account issue. This is why you must pick a brokerage firm that can provide good customer support around the clock. This most notably includes the company representatives being easy to reach, fast, and polite, which will in turn spare you having to worry about trading disruptions later.
Email Live Chat Phone WhatsApp
Available Available Available Available Available
Quick response Very Fast Very Fast Very Fast Moderate
Email Live Chat Phone WhatsApp
Available Available Available Available Available
Quick response Very Fast Very Fast Very Fast Very Fast
Email Live Chat Phone WhatsApp
Available Available Available Available Not Available
Quick response Very Fast Moderate Moderate Not Available
Email Live Chat Phone WhatsApp
Available Available Available Available Not Available
Quick response Very Fast Very Fast Moderate Not Available
Email Live Chat Phone WhatsApp
Available Available Not Available Available Not Available
Quick response Slow Not Available Moderate Not Available
Email Live Chat Phone WhatsApp
Available Available Not Available Available Not Available
Quick response Moderate Not Available Moderate Not Available
Email Live Chat Phone WhatsApp
Available Available Available Available Not Available
Quick response Moderate Fast Moderate Not Available

Ask Other Traders on Our Network

Arincen has gone to extensive lengths to create an enabling environment of networks, where traders of all backgrounds can take part in a vibrant trading space. After all, Arincen’s goal is to simplify the world of trading. Our Website provides an unrivalled slate of tools, like our market-leading signals, rolling news, and a thriving community where traders of all levels of experience can learn and profit from each other.

What Trading Platforms, Tools and Features Should a Broker Offer?

When choosing a trading platform, you should consider a range of features that cater to both novice and seasoned traders. Here are some elements to keep in mind:
To choose the perfect trading platform, here’s some advice:
Remember that the trading platform you choose can have a significant impact on your trading success, so it's important to choose wisely.

Which Brazilian FOREX Broker Has the Best Platform?

Many FOREX traders around the world have become used to MetaTrader’s strong and dependable MT4 platform, which is well-liked with good cause. However, if you are interested in trying something new that pushes the boundaries of what we accept as possible with a trading platform, you may consider a proprietary platform. In this case, we would encourage you to try Saxo Bank for its advanced trading features and high-performance tools with extensive market analysis.

Which Brazilian FOREX Broker Charges the Lowest Fees?

Our research shows that FXDD’s ECN account offers the lowest fees for entry-level and elite traders alike. Be sure to contact them if fees are a dealbreaker for you.

Which is the Best FOREX Broker in Brazil for the Most CFDs?

CMC Markets and IG offer comprehensive CFD selections. We can confirm that these two brokers offer the most CFDs of the ones we have studied.

Which is the Best FOREX Broker for the Most Assets?

According to Arincen’s research, the FOREX brokers that offer the widest and most comprehensive range of financial assets are CMC Markets and IG.

Which Brazilian FOREX Broker is Best for Professionals?

Professional traders are mostly clear about their requirements. They normally won’t settle for a sub-standard platform or experience. Professional traders are also searching for a platform that features in-depth market analysis that comes with advanced indicators that help them make better decisions. In this case, you should look for brokers that use MT4, an industry stalwart that offers all the above.

FOREX Trading Scams and How to Avoid Them

The CVM has issued several warnings about retail online trading scams in the past. This is the role of all regulators around the world, including major regulators like the FCA, ASIC, and CySEC, to mention a few. These entities all provide general guidance to the public on how to avoid investment scams. This ensures that the average investor is well protected from scam activity. However, you still need to conduct your own due diligence as well. If an offer seems too good to be true, it normally is.

The choice of a regulated broker isn't merely a matter of preference—it's a protective measure. When a broker is regulated, it undergoes stringent assessments to ensure transparency, fair trading practices, and your financial security. Opting for an unregulated broker brings with it significant risks. For a list of the best regulators, read our article here.

The Dos and Don’ts of FOREX Brokers

When searching for the best FOREX broker in Brazil, you must check the extent to which the FOREX company abides by the rules and regulations governing its operation. Emphasis must be placed on what it can and cannot do. 
There are seven things brokerage firms cannot do:
  1. The FOREX brokerage firm cannot recommend a buy or sell;
  2. The FOREX brokerage firm must not provide price or market expectations (rise/fall);  
  3. The FOREX firm cannot control your financial dealings (deposit/withdrawal);
  4. The FOREX brokerage firm should not “manage” your portfolio under any circumstance;
  5. The FOREX brokerage firm cannot grant a client a bonus unless clear terms are guiding it beforehand;
  6. The brokerage firm must not use bank accounts not under its name; and
  7. FOREX brokerage firms cannot have or offer the service of account managers.
In short, the role of brokerage firms is strictly confined to facilitating buyers and sellers to come together toward an agreed-upon commission. FOREX brokerage firms that violate any of the seven rules should be avoided. 

Who is Arincen and What Do We Do?

Put simply, Arincen is a social networking platform that brings together traders and experts to exchange expertise and ideas. Together, we evaluate the best FOREX companies in the world while offering a comprehensive suite of services and tools, all in one place, either via a computer or a mobile app. The platform is so rich, that you can create your own private portfolio of traders and experts and, at the same time, follow their recommendations and investment sentiments.            
Further, thanks to Arincen, users can keep an eye on market-price developments, as well as the latest news. Users can also benefit from the network’s educational courses on offer, to say nothing of exciting webinars – all done in a modern and fast-paced work environment. Get all that you need in one place. Our motto: We Meet to Simplify the Trading World.   
  

Conclusion

Any new trader entering the FOREX market is heading into a space that is much more vibrant, competitive, and safe than at any point in our history. It's an exciting time to be starting this adventure with the best FOREX broker of your choosing. Like any such enterprise, you need to make sure you are safe from pitfalls. That's why we will always reiterate our key message which is that any of the top online FOREX brokers you pick must be legally licensed and well-regulated.
Next, be sure to vet the broker's tools, platforms, and reputation. Make sure that you can get customer service in your local language whenever you need it. If at any stage you are unsure about what steps to take when vetting the best online brokers in Brazil, you can always refer to this article.

Arincen’s Review Methodology

The expert team at Arincen collected more than 120 pieces of data covering more than 100 licensed FOREX companies. Data collection was done in three ways:
  1.  Companies’ websites.
  2.  Other websites that have ranked FOREX companies.
  3. A survey questionnaire (referred to here as Survey “1”) was sent to the companies invited to participate in the exercise. We have identified 13 criteria for our assessment, each containing several aspects and carrying its relative weight. These include licensing, deposits and withdrawals, number of assets, etc.     
Afterwards, we validated the data by:
  1.  Registering with FOREX companies as a secret shopper and/or as Arincen.
  2.  Survey number “2,” in which we asked these companies’ customers for important feedback and experience.
The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were very careful in ensuring the most accurate assessment possible, including considering different languages, as well as the various mobile-app operating systems, e.g., Apple, Samsung etc.
To add credibility to our research project, we sent a final and third survey (referred to here as Survey “3”) to enable participating FOREX companies to evaluate our research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%.  To learn more about how we came up with the evaluation, please click here.

FAQ

Is FOREX trading legal in Brazil?

Yes, trading FOREX trading is legal in Brazil. FOREX trading is an activity that can lead to gainful profits, as such it is highly regulated, making it easy to keep it legal.

What is FOREX?

The FOREX market is a place where global currencies are bought and sold. It is a large and active marketplace that requires technologically superior tools if you are to participate as a retail trader. The market operates 24 hours a day and five days a week (Monday through Friday), except international holidays.

What is FOREX trading?

FOREX trading involves buying and selling different worldwide currencies for a profit. Retail traders select a currency pair and, in anticipation of market-driven changes in value, wait for the right moment to make a sale for a profit.

Can I withdraw funds in other currencies?

No. As you are domiciled in Brazil, and your broker is registered to operate in Brazil, your account is designated in Brazilian Real. Even though as a FOREX broker you are trading in global currencies, you can only withdraw your earnings in the local currency, the Real.

Does my broker offer services in Portuguese?

With English being the dominant business language, this is a fair question. However, you can rest easy that your customer service needs will be fulfilled in Portuguese if the broker is based in Brazil and has all the necessary licenses to operate.

What costs and commissions are associated with FOREX trading?

FOREX brokers charge any combination of commissions, spreads, and financing fees. Brokers can either charge a spread (the difference between the buy and sell price of a currency pair) and include their facility fee in the spread, or they can charge only a market rate spread and levy a commission per trade outside the spread. Financing fees come into play if you hold your position overnight. You must pay a financing cost for the benefit of keeping your positions open for an extended time.

How important is good customer service in FOREX trading?

Good customer service is vital to FOREX trading as it is a fast-moving marketplace where traders can lose money if their account is non-functional or deactivated for any length of time. As such, you must select a broker that can offer excellent customer support whenever you need it. Company staff must be accessible and knowledgeable enough to be useful in times of difficulty.

Is FOREX trading taxable in Brazil?

Yes, retail FOREX trading is taxable in Brazil. You are advised to keep accurate records of your trades and report any income timeously. As always, be sure to consult a tax expert to get the best advice in this area.

Forex Risk Disclaimer
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Adrian Ashley
Adrian Ashley is a seasoned business and finance writer. With a corporate career spanning over 20years, he has developed deep experience in such diverse areas as investing, business, finance,technology and macroeconomics. He is passionate about captu...
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Richard Sine
Richard Sine is a long-time technical editor and writer. His credits include a weekly column in the...
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Bahaa Khateeb
 Bahaa Khateeb is currently the CEO of Arincen, a start-up Fintech company based in Haifa. Baha...
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