Traders Union (TU) analysts have prepared a comparative analysis of the best brokers Brazil in 2024. Experts performed the analysis taking into account the specifics of trading in the country. In their evaluation, TU experts use over 100 criteria that are split into groups. They have collected all the necessary data providing a possibility for novice traders from Brazil to give an unbiased evaluation to a broker. Using this information, a user can choose the company that meets his criteria.
Best Forex App in BrazilThe Most Reliable Brokers Brazil by TU include the following:
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
TeleTrade is a broker for traders who value the variety of trading instruments and trade using their PC or a mobile app. The company is a good broker both for beginners and experienced traders.
Vantage Markets is a broker that is a real catch for traders who prefer ECN trading.
FreshForex is a reliable Forex broker providing a standard set of trading tools. The company is a good option for traders of all levels, from beginner to professional traders. It is mid-range in terms of size and number of registered traders and they are reliable based on our research and analysis.
The broker is focused on cooperation with active traders, regardless of their trading experience.
Best forex brokers for beginners in Brazil in 2024
| RoboForex | TeleTrade | Vantage Markets | FreshForex | IronFX | |
|---|---|---|---|---|---|
Trading platform |
МТ4, МТ5, R StocksTrader, R MobileTrader, R WebTrader |
MT4, МТ5 |
Vantage Markets app, МТ4 (desktop, mobile, web), МТ5 (desktop, mobile), WebTrader, ProTrader |
МТ4, МТ5 |
MetaTrader 4 |
Min deposit |
$10 |
$10 |
$50 |
$0 |
$100 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:30 |
Trust management |
No |
No |
No |
No |
No |
Accrual of % on the balance |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Spread |
From 0.0 points |
From 0.8 points |
From 0.0 points |
From 0.0 points |
From 0.0 points |
Level of margin call / stop out |
60% / 40% |
70% / 20% |
100% / 50% |
40% / 20% |
40% / 20% |
Execution of orders |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
STP, Market Maker, ECN |
No deposit bonus |
No |
No |
No |
$30 |
No |
Cent accounts |
Yes |
No |
No |
Yes |
No |
There are certain specifics in trading, which novice traders residing in the territory of Brazil need to know about:
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Novice traders need educational courses. The bigger the educational blocks, the more useful knowledge you will gain.
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Take notice of the availability of a demo account or a cent account. Traders can use these accounts to practice without considerable costs. A demo account allows you to work with virtual money, and a cent account - with micro lots, where your profit or loss amounts to just several dollars or even cents.
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When choosing a broker, it is important to evaluate its fees schedule. Novice traders should check out the fees on cent or basic accounts.
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If a novice trader professes Islam, he needs to make sure that an Islamic account is available. it is a special swap-free account that does not violate the Sharia law.
1
Best Forex broker for beginners in Brazil - RoboForex
RoboForex is a well-established brokerage company offering a broad spectrum of trading opportunities for active traders and investors alike. With an impressive selection of over 12,000 financial instruments - including currency pairs, CFDs on stocks, indices, metals, energies, and futures - RoboForex provides a versatile trading environment.
The broker boasts competitive trading conditions: tight spreads starting from 0 pips, high leverage up to 1:2000, and fast execution speeds. The broker also offers the CopyFx investment program, which allows traders to copy the strategies of successful investors and earn passive income. Additional perks include instant fund withdrawals and some of the industry’s highest affiliate payments (up to 84%).
RoboForex prioritizes reliability and client satisfaction, establishing itself as a trusted partner for traders worldwide.
👍 Advantages of trading with RoboForex for traders from Brazil:
•Availability of favorable trading conditions and a minimum deposit
•Unique investment program CopyFx
•Highest affiliate payments: up to 84% of the fee paid by the referral
•Market launch - STP and ECN
•Instant withdrawal of funds
•Minimum deposit - $10
👎 Disadvantages of RoboForex for traders from Brazil:
•A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime
•Lack of tools when trading on the R StocksTrader platform
RoboForex Commissions & Fees for traders from Brazil
RoboForex charges trading fees. The fees are charged as the spread. In the fees review for traders from Brazil, you can learn about their rates depending on the account type.
RoboForex Commissions and Fees in Brazil
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Pro |
$13 |
No |
Pro-Cent |
$13 |
No |
ECN |
$3 |
No |
Prime |
$1 |
No |
2
Best Forex broker for beginners in Brazil - TeleTrade
TeleTrade is a global broker serving clients worldwide. They offer trading on Forex, indices, stocks, metals,cryptocurrencies, and energies. While lacking PAMM accounts and certain investment options, TeleTrade boasts a robust copy trading service, a strong affiliate program, and diverse account types (ECN, NDD, crypto). With sufficient leverage (up to 1:500) and spreads from 0 pips, the broker caters to various trading styles, including scalping, intraday trading, and medium to long-term strategies.
TeleTrade supports traders with market analytics, expert forecasts, an economic calendar, and a comprehensive education section on their website.
👍 Advantages of trading with TeleTrade for traders from Brazil:
•detailed analytical section;
•informative educational section.
👎 Disadvantages of TeleTrade for traders from Brazil:
•no PAMM accounts or other money management options;
•a small range of trading instruments;
•few withdrawal options;
•support is available 24/5;
•withdrawals delayed;
•technical support responds slowly;
•sometimes it takes a long time to verify data.
TeleTrade Commissions & Fees for traders from Brazil
TeleTrade charges trading fees. The fees are charged as the spread. In the fees review for traders from Brazil, you can learn about their rates depending on the account type.
TeleTrade Commissions and Fees in Brazil
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard ECN |
$17 |
No |
Professional NDD |
$9 |
No |
Sharp ECN CENT |
$2 |
No |
Cryptocurrency account |
$3 |
|
3
Best Forex broker for beginners in Brazil - Vantage Markets
Vantage Markets is a multi-asset broker offering a vast array of 1,000+ trading instruments, including currency pairs, CFDs on stocks, indices, commodities, energy, and ETFs. Holding licenses from reputable regulators like the FCA and ASIC, Vantage Markets ensures a level of security and trust for its clients.
The broker provides a choice between spread-based and commission-based account types, with leverage up to 1:500 on Forex pairs. Its PRO ECN option particularly stands out with commission starting from $1.5 per lot, making it attractive for high-volume traders.
Alongside the popular MetaTrader 4/5 platforms, the broker offers proprietary trading platform ProTrader and a convenient Vantage App. Additionally, Vantage Markets integrates with TradingView, enabling direct trading from the popular charting platform.
👍 Advantages of trading with Vantage Markets for traders from Brazil:
•A vast array of trading instruments like 1000+ currency pairs and contracts for difference (CFDs).
•The broker has licenses from four reputable regulators.
•Classic trading terminals and a proprietary mobile application.
•An extensive array of trading signals to choose from for traders, regardless of the type of trading account.
👎 Disadvantages of Vantage Markets for traders from Brazil:
•Customers from most countries are forced to cooperate with a branch that has an offshore license.
•Limited training and a lack of information on Forex trading.
•Snail-paced withdrawal of funds with the requirement to comply with special conditions.
Vantage Markets Commissions & Fees for traders from Brazil
Vantage Markets charges trading fees. The fees are charged as the spread. In the fees review for traders from Brazil, you can learn about their rates depending on the account type.
Vantage Markets Commissions and Fees in Brazil
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard STP |
From $0 |
No |
RAW ECN |
From $3 |
No |
Pro ECN |
From $1.5 |
No |
Swap Free |
From $0 |
No |
4
Best Forex broker for beginners in Brazil - FreshForex
FreshForex offers more than 270 assets for trading, including Forex, CFDs on stocks, precious metals, energy, indices, and cryptocurrencies.
FreshForex boasts attractive trading conditions with spreads from 0 pips and leverage up to 1:2000. There are several account types - Classic, Market Pro, and ECN - catering to different trader levels and preferences. Traders can start with a minimum deposit of just $10, though higher deposits are recommended for certain accounts.
While lacking a top-tier regulatory license, FreshForex has built a reputation through 19 years of operation with over 20 international awards for its trading conditions and services. The broker aims to provide flexible, low-cost trading options across multiple asset classes.
👍 Advantages of trading with FreshForex for traders from Brazil:
•favorable trading conditions;
•work with the liquidity providers having a European license;
•130 instruments for trading: Forex instruments, CFDs on precious metals, energy products, and indices, as well as corporate shares;
•spreads from 0 pips;
•the ability to replenish the account and withdraw funds quickly;
•bonuses and offers;
•easy to use the software that is available on your desktop computer, laptop, tablet, or smartphone.
👎 Disadvantages of FreshForex for traders from Brazil:
•customer service works 24 hours although not on weekends;
•no cryptocurrency for trading;
•no investment programs;
•access to the affiliate group is not available via the Traders Union.
FreshForex Commissions & Fees for traders from Brazil
FreshForex charges trading fees. The fees are charged as the spread. In the fees review for traders from Brazil, you can learn about their rates depending on the account type.
FreshForex Commissions and Fees in Brazil
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
ECN |
From $0 |
Yes |
Classic |
From $20 |
Yes |
Pro |
From $9 |
Yes |
5
Best Forex broker for beginners in Brazil - IronFX
IronFX was launched in January 2010 by a team of specialists in finance and software development. Today, IronFX has grown to be among the industry leaders that provide online trading services globally. Customers can use the MT4 advanced trading platforms and trade more than 300 tools from 6 various asset classes. IronFX serves individual as well as corporate clients from over 180 countries. IronFX is highly valued for providing cutting-edge technological innovation on trading platforms and trading tools.
👍 Advantages of trading with IronFX for traders from Brazil:
•round-the-clock communication with a multilingual support TEAM on weekdays;
•wide range of trading assets;
👎 Disadvantages of IronFX for traders from Brazil:
•the verification procedure can be repeated;
IronFX Commissions & Fees for traders from Brazil
IronFX charges trading fees. The fees are charged as the spread. In the fees review for traders from Brazil, you can learn about their rates depending on the account type.
IronFX Commissions and Fees in Brazil
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard |
from $18 |
No |
Premium |
from $16 |
No |
VIP |
from $14 |
No |
Zero Fixed |
from $0 |
No |
No commission |
from $17 |
No |
Zero Spread |
from $0 |
No |
Absolute Zero |
from $3 |
No |
Fees and Commissions
When choosing a broker, it is very important to evaluated the structure of its fees. The fees are the main source of income for brokerage companies.
The brokers usually charge two finds of fees: spread and lot fee.
Spread is more popular than the lot fee. However, the type of fee depends on the trading account. Make sure you review the conditions.
The lowest spreads are always found on ECN accounts. Availability of such account types is an important advantage for any broker.
The type of fees can depend on your trading strategy, but a detailed calculation needs to be performed anyway.
The fees charged by brokers often vary depending on the trading account type and also the instruments a trader works with. The higher the popularity and liquidity of certain instruments, the narrower the spreads or the lower the fees per lot.
Summary
Choosing the right broker is not a simple task for new traders in Brazil, as they have to take into account many nuances. Each of those could considerably impact your trading successes or your profit. Trading instruments that the broker offers traders from Brazil, trading conditions and the quality of educational materials need to be evaluated. Availability of a demo account or a cent account you can use to practice is an important advantage. Keep in mind that before opening a position, you need to assess its risk level.
Top Forex brokers for beginners in 2024 for traders from Brazil
| RoboForex | TeleTrade | Vantage Markets | FreshForex | IronFX | |
|---|---|---|---|---|---|
Overall score |
8.86 |
7.63 |
7.2 |
7.1 |
6.74 |
Execution of orders |
8.95 |
3.21 |
8.2 |
6.3 |
6.85 |
Investment instruments |
9.73 |
9.3 |
8.47 |
8.1 |
7.42 |
Withdrawal speed |
9.71 |
7.79 |
8.2 |
5.71 |
7.23 |
Customer Support work |
9.17 |
8.41 |
6.64 |
6.63 |
7.03 |
Variety of instruments |
8.75 |
8.75 |
7.37 |
7.37 |
8.02 |
Trading platform |
6.86 |
8.29 |
4.31 |
8.5 |
3.88 |
FAQ
What amount does a novice trader need in order to start trading?
It depends on the account type. For a cent account, USD 50 is enough. For trading on a real account, it is better to deposit at least $300-500.
How do I choose a reliable broker Brazil?
According to the requirements of country Brazil, a broker must disclose all information, including the name, registration data, legal address, etc. License for financial activity is the key document.
Should I accept the bonuses for beginners?
Bonuses for beginners can make trading more profitable, but before accepting a bonus, make sure you read the conditions for receiving bonuses by traders from Brazil.
Can a beginner earn passive income in the Forex market while he is learning?
Yes. For example, you can use PAMM accounts or copy trading platforms. Make sure that these kinds of investment opportunities are available for traders from Brazil.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.