Best forex brokers in Brazil
For forex in Brazil, from Brasília or anywhere else in the country, 5 of the 7 brokers we review are open to you. XTB does not accept residents of Brazil, so XM leads.
By Broksal Team, investing in forex and CFD markets since 2017. Updated . How we test
How we score
Each broker gets five sub-scores out of 5:
Regulation and safety (30%), trading costs (25%), platforms and tools (20%), range of markets (15%) and ease of use (10%). The overall score is the weighted average, rounded to one decimal.
Availability is checked against each broker's published country lists. The ranking order is editorial and reflects our commercial agreements, so it does not always follow the scores. Full methodology
Advertiser disclosure
Broksal is free to use because some brokers pay us a commission when you open an account through our links. This can influence which broker we feature and the order in which brokers appear.
Commissions never change the facts we publish about regulation, fees or country availability, and they cost you nothing.
Top 3 forex brokers for Brazil
- 1
Our top pick in Brazil
XM
4.6MT4 and MT5 from a $5 deposit, with multiple account types
XTB is not available in Brazil
Forex CFDs MetaTrader 4 and 5 from a $5 deposit; the Ultra Low account averages 1.1 pips on EUR/USD with no commission.
- Minimum deposit
- $5
- Platforms
- MetaTrader 4, MetaTrader 5, XM app
- Entity for Brazil
- XM Global Limited — FSC (Belize)
- CFDs
- Yes
Show pros, cons and feesHide details
XM's MetaTrader platform on desktop and mobile, with one-click trading on EUR/USD. XM's EU site states that 75.12% of retail investor accounts lose money when trading CFDs with this provider. What we like
- Very low minimum deposit outside the EU
- MT4 and MT5 plus its own mobile app
- Accepts residents of a very wide list of countries
- Standard, Ultra Low and Shares account types
Watch out for
- Not available in the US, Canada, Israel or the UK
- Most non-EU clients are onboarded by an offshore entity with lighter protection
- Dormant account fee after 90 days without activity
Fees
The Standard account is commission-free with costs built into the spread; the Ultra Low account offers tighter spreads. Swaps apply on positions held overnight. A monthly dormant fee is charged after 90 days of inactivity.
Best for
MetaTrader users with small starting balances.
- 2
eToro
4.3CopyTrader and a social feed on a Nasdaq-listed platform
Forex CFDs About 1 pip on EUR/USD with no commission, and CopyTrader for following other traders.
- Minimum deposit
- Varies by country
- Platforms
- eToro web platform, eToro mobile app
- Entity for Brazil
- eToro (Europe) Ltd or regional entity — CySEC
- CFDs
- Yes
Show pros, cons and feesHide details
eToro homepage after the 2026 brand refresh, highlighting its Nasdaq listing (ETOR) and the new mobile app. What we like
- CopyTrader lets you mirror other investors' portfolios
- Listed on Nasdaq; FCA, CySEC and ASIC regulated
- Very easy app for stocks, ETFs and crypto
Watch out for
- CFD spreads are wider than at IC Markets or XTB
- Not available in Canada, Japan, India, Turkey and most of Africa
- Withdrawal and currency conversion fees on the USD account
Fees
CFD costs are in the spread (about 1 pip on EUR/USD), plus overnight fees on leveraged positions. Withdrawals from the USD account cost $5 and currency conversion is charged on non-USD deposits; eToro removed its inactivity fee on 28 May 2026.
Best for
Investors who want to copy other traders.
- 3
Interactive Brokers
4.7The widest market access here, with low costs and top-tier regulation
Spot forex and CFDs Interbank pricing from 0.1 pips with a 0.2 basis point commission (minimum $2); spot forex as well as forex CFDs.
- Minimum deposit
- No minimum
- Platforms
- Trader Workstation (TWS), IBKR Desktop, Client Portal (web) +2
- Entity for Brazil
- Interactive Brokers LLC / regional affiliate — Top-tier regulators
- CFDs
- Yes
Show pros, cons and feesHide details
Interactive Brokers homepage, showing the desktop platform and mobile app and the new AI-assisted analysis integrations. What we like
- Listed on Nasdaq and regulated by top-tier authorities worldwide
- Access to stocks, options, futures and bonds on 150+ markets
- No minimum deposit and no inactivity fee
- Accepts residents of most countries
Watch out for
- Trader Workstation has a steep learning curve
- CFDs are not available to US residents
- Account opening asks for more documents than most brokers
Fees
Two pricing plans: Fixed (one all-in commission) and Tiered (lower exchange-based commission plus pass-through fees). CFD commissions are charged per trade, with financing on overnight positions. There is no inactivity fee.
Best for
Experienced investors who want access to global exchanges.
Also available in Brazil:
IC Markets 4.6
IQ Option 4.1
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Each broker publishes its own current loss percentage on its website.
Forex from Brazil: the rules
Brokers usually serve Brazil through offshore entities where forex leverage can be far higher than in the EU. Higher leverage magnifies losses as much as gains. Locally, financial services are supervised by the Comissão de Valores Mobiliários (CVM).
Best time to trade currencies from Brasília
Major currency pairs are usually most liquid while London and New York are both open: 10:30–12:30 local time (UTC−3, early October 2026). The forex week runs from Sunday 18:00 to Friday 18:00 local time.
All 7 brokers we review, checked for forex in Brazil
| Broker | Status | Access | Entity for Brazil |
|---|---|---|---|
| XTB | Not available in Brazil | — | — |
| XM | #1 in this ranking | Forex CFDs | XM Global Limited — FSC (Belize) |
| IC Markets | Available | Forex CFDs | Raw Trading Ltd (IC Markets Global) — FSA (Seychelles) |
| Interactive Brokers | #3 in this ranking | Spot forex and CFDs | Interactive Brokers LLC / regional affiliate — Top-tier regulators |
| Freedom24 | Not available in Brazil | — | — |
| IQ Option | Available | Forex CFDs | IQ Option international entity — Offshore entity |
| eToro | #2 in this ranking | Forex CFDs | eToro (Europe) Ltd or regional entity — CySEC |
Forex rankings in countries bordering Brazil
| Country | Brokers offering forex | #1 |
|---|---|---|
| 🇦🇷 Argentina | 5 | XM |
| 🇧🇴 Bolivia | 5 | XM |
| 🇨🇴 Colombia | 5 | XM |
| 🇬🇾 Guyana | 4 | XM |
| 🇵🇾 Paraguay | 4 | XM |
| 🇵🇪 Peru | 5 | XM |
| 🇸🇷 Suriname | 4 | XM |
| 🇺🇾 Uruguay | 5 | XM |
Frequently asked questions
What is the best forex broker in Brazil?
XM, in our ranking. MetaTrader 4 and 5 from a $5 deposit; the Ultra Low account averages 1.1 pips on EUR/USD with no commission. eToro and Interactive Brokers complete the top 3.
Which brokers offer forex to residents of Brazil?
Of the brokers we review: XM (forex cfds), IC Markets (forex cfds), Interactive Brokers (spot forex and cfds), IQ Option (forex cfds) and eToro (forex cfds).
What are the rules for forex in Brazil?
Brokers usually serve Brazil through offshore entities where forex leverage can be far higher than in the EU. Higher leverage magnifies losses as much as gains.
When is forex most liquid in Brazil?
Usually 10:30–12:30 local time, while London and New York are both open (early October 2026 times).
Which forex broker has the lowest costs?
On a one-lot EUR/USD trade, Interactive Brokers was cheapest in our fee comparison, followed by XTB and IC Markets at about $8. For small trades the $2 minimum commission at IBKR makes XTB cheaper.
Availability last checked 6 October 2026. Brokers change their country lists without notice; the broker's sign-up form is the final word.