Best cTrader Brokers in Colombia for 2024 - TOP 5

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7.37
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2
8.5
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3
8.4
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Trading in financial markets requires the right choice of a broker, as security of traders’ funds, their profit and opportunities depend on it. Before you start working with a company, it is important to comprehensively assess it. Traders Union analysts have already done it for you. The experts prepared a review of the Best cTrader Brokers in Colombia for 2024. Five companies that enjoy huge popularity in Colombia were selected and compared between each other.

1
FTMO - Best in Colombia for 2024

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FTMO offers a classic set of trading instruments: from currency pairs and stock assets to cryptocurrencies. Trading platforms are MetaTrader4, MetaTrader5, and cTrader. Trading conditions during testing and on a real account are the same.

2
FxPro - Best in Colombia for 2024

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Traders registered with FxPro find the trading conditions of the company some of the most attractive in the Forex Market. First of all, these are narrow spreads and zero commissions for trading stocks.

FxPro broker company has many tools that simplify the technical and fundamental analysis and a variety of charts. You can work with a broker on the MetaTrader 4, MetaTrader 5, Edge, and cTrader trading platforms. It is possible to trade online on various operating systems: Windows, Mac, iOS, Android. TradingView charts were added on FxPro Mobile app, so the app now has advanced charting, indicators, chart tools, and other features.

3
IC Markets - Best in Colombia for 2024

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IC Markets offers high execution speeds due to servers located in New York and London. Trading conditions differ subject to the regulator that supervises the activities of a certain division. For example, clients of IC Markets regulated by CySEC can trade 13 cryptocurrencies 24/5, while clients of ASIC- and FSA-regulated divisions can trade 24/7.

IC Markets clients from all jurisdictions can trade on STP and ECN account types with floating spreads, leverage, and various deposit/withdrawal methods. The company doesn’t have proprietary trading platforms. It offers classic MT4, MT5 and TradingView, as well as a more complicated cTrader. These platforms are available in desktop, web, and mobile versions to ensure the most comfortable trading conditions.

Can you trade options with IC Markets?

4
XM Group - Best in Colombia for 2024

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Trading conditions of XM Broker are ideal for both novice traders and professionals. There are cent, standard and ultra low spreads accounts, loyal minimum deposit requirements, leverage as provided by requirements of the European regulators. To test strategies, get acquainted with the functionality of platforms, mobile app and test their potential, a demo account is provided.

The broker is a market maker in the international financial market. This means that XM Group has direct access to liquidity and can provide traders with the best quotes. Spreads on Ultra accounts are from 0.6 pips. The company guarantees an almost complete absence of slippage regardless of market volatility level and a competitive market spread in moments of sudden price movements.

Learn More about XM allow scalping

5
HFM - Best in Colombia for 2024

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HFM trading conditions can be attributed to a high level of competitiveness. A low minimum deposit and a leverage of up to 1:2000 provide opportunities for clients to use several highly profitable strategic models and test the functionality of the account and terminal. The spread floats according to the trading conditions and the minimum spread is equal to 1 pip. However, for a Zero account, its minimum value is zero.

TU Expert Review for the best cTrader Brokers in Colombia

Anton Kharitonov

Financial expert and analyst at Traders Union

Anton joined Traders Union as a financial expert and analyst in 2013. He performs comprehensive internal testing of brokers as a trader. Essentially, Anton “test drives” brokers: he checks the operation of the website and user account, the speed and effectiveness of customer support team, stability of the software, deposit and withdrawal processing times, legal documents of companies and also all additional services (VPS, affiliate programs, contests, bonuses, educational programs, etc.). Based on the results of his “inspections”, he prepares expert conclusions about the operation of brokerage companies in the Forex, stock and binary option markets and also of the cryptocurrency exchanges.

His opinion as for the best cTrader Brokers in Colombia is posted below.

FTMO - TU Expert Review

FTMO is a managing prop firm operating on the principle of a prop company. To receive money under management, a potential trader must successfully complete a two-stage active trading test. At each stage, requirements are set for the maximum allowable daily loss, total loss, and target profit level. The prop firm’s conditions are relatively loyal, but still, they can be difficult to successfully navigate. Regardless of the chosen testing package, the limits are 10% of the total loss. For comparison: other prop companies have allowable drawdowns of 15-20%. Despite the strict requirements for the test period, FTMO has a relatively low test cost beginning at €155. By comparison, in most companies in this sector, the entrance fee for passing the test is from €400-500. Another advantage is the availability of standard MT4/MT5 platforms and mobile app. Most other prop companies have their own or adapted platforms, while FTMO has standard platforms. This allows you to work with any custom indicators and advisors previously honed in the MetaTrader tester. My impression of FTMO remains positive. But after studying the conditions, it is clear that without trading experience, it makes no sense to try your hand at the test. Testing conditions are favorable for those who have worked previously with a demo account and are good at risk management. However, you can also gain experience on the company’s platform itself. There is a free version of the test that fully corresponds to the paid test.

FxPro - TU Expert Review

FxPro is one of the brokers that successfully combines marketing policy and technological development. The company has been in the market for more than 17 years and has been able to maximize its technical potential. Average order execution is up to 14-30 ms, while the market average is 100-150 ms. Average spreads for the EUR/USD pair range from 0.3 to 0.8 pips, and expansion at moments of fundamental volatility does not exceed 30-50%. You can check these numbers by installing a script for MT4/MT5. But there are no doubts that they are true. This is largely thanks to such liquidity providers as Barclays, Citibank, and RBS banks, which are FxPro's longtime partners. Trading conditions are ideal for everyone, regardless of experience level. Novice traders can improve their skills on demo accounts, which can be opened for any trading platform (cTrader, MT4/MT5, or FxPro Edge). All platforms, except FxPro Edge, support custom indicators, scripts, and Expert Advisors. There are auxiliary tools in the user account such as market sentiment, which is an indicator displaying the current position volumes and their number in both directions, volatility of currency pairs, analytics and tools of Trading Central, and news feed with streaming information. The number of payment methods is limited, but this is required by regulators. To compensate for this, FxPro guarantees instant processing of withdrawal requests and quick crediting of money. First impressions of the broker are positive, therefore it is rightfully included in the rating of the TU Top best companies. Check it out by opening a free demo account.

IC Markets - TU Expert Review

IC Markets has many years of experience in financial markets. It was incorporated in 2007 and provides its services in strict accordance with regulatory requirements so as not to lose its licenses and client trust. The broker constantly improves its services, ensuring software technical stability, a high level of data protection, and favorable trading conditions. IC Markets has been in Traders Union's top 20 Forex brokers for many years and is a constant partner. TU can recommend IC Markets to traders with different backgrounds, who use both short- and mid-term strategies, as well as expert advisors and custom indicators. The important advantage of IC Markets over other brokers is diversity. The company offers plenty of trading instruments: 60+ currency pairs, CFDs on futures, indices, commodities, metals, 2,100+ stocks (Nvidia stock, Apple stock, Google stock, Tesla stock etc.), bonds, cryptocurrencies. A wide range of account types, and a good choice of platforms for active and social trading. Other IC Markets advantages are three regulatory licenses, membership in the Financial Commission, and participation in several compensation schemes.

XM Group - TU Expert Review

XM Broker can be safely recommended to those who are interested in professional trading with high order processing speed and optimal level of commission. The first thing worth noting is that it has licenses of four leading regulators in the world simultaneously. These are ASIC (Australia, ACN:164 367 113), FSC (Belize, 000261/397), CySEC (Cyprus, 120/10), DFSA (UAE, F003484). The second moment is the types of accounts. The broker guarantees the same quality of execution for all types of accounts, which means a minimum of requotes, slippages and instant overlap of orders with counterparty counter transactions. The level of leverage complies with the European standards (including the MiFID directive that all CySEC licensees work in accordance with). There is an average market spread. The maximum leverage for clients registered under the EU regulated entity of the XM Group is 30:1. Attractive trading conditions for novice traders are also worth noting. The minimum deposit is 5 US dollars; there are cent (micro) accounts with a lot equal to 1,000 units. Thanks to its elaborated service and high-tech platforms, XM Broker is rightfully one of the best companies in the Traders Union rating.

HFM - TU Expert Review

HotForex is now known as HF Markets, and refers to itself on its website as HFM (the website address is HFM.com). The name change may simply be due to the fact that HFM offers multi-market access, that it isn’t just limited to trading the forex market. Still, it can be a little confusing, as the company is still listed as HotForex on some websites. A primary draw at HotForex is the multi-market exposure it offers. About three dozen cryptocurrencies are available to trade. That’s in contrast to many forex brokers that only offer trading in a handful of cryptos. In addition to about 75 of the most widely traded stocks, HotForex clients also have exposure to approximately 30 ETFs and about a dozen market indexes. Bond trading is severely limited – only the Euro Bund, the UK Gilt, and the US 10-year Treasury Note. Here are three things I like about HotForex:     1. Choice of Spread or Commission Fees - A choice of spread-fees-only or commission-fees-only accounts; Commission fees are on the low end of industry averages, at $6 per standard forex lot round turn trade.     2. Tier 1 Regulated - Security for traders is enhanced by the fact that HotForex is regulated by multiple Tier 1 financial regulators, including the UK’s Financial Conduct Authority (FCA).     3. Strong Trader Education - HotForex provides beginning traders with extensive trader education resources, including video tutorials, webinars, and a full forex trading course; It also gives clients daily fundamental and technical market analysis reports.

Summary

Many brokers operate in Colombia, but not all of them are reliable or offer attractive trading conditions. TU experts selected 5 companies and rated them based on collected data. By reviewing them, you will learn about the Best cTrader Brokers in Colombia 2024 and will be able to evaluate the pros and cons of its closest competitors.

Overall score of the best cTrader Brokers in Colombia

FTMO FxPro IC Markets XM Group HFM

Overall score

7.37

8.5

8.4

8.28

8.09

Execution of orders

8.6

8.25

9.45

9.35

9

Investment instruments

4.89

8.9

8.77

8.7

8.91

Withdrawal speed

7.21

6.5

9.43

7.9

8.86

Customer Support work

8.01

8.9

7.19

8.5

5.42

Variety of instruments

7.52

9.27

8.02

8.02

7.37

Trading platform

7.96

9.2

7.51

7.2

8.95

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FAQ

Why is a license important for a broker?

License is the key document testifying to the broker’s reliability. It means that the company complies with the requirements of the financial regulatory authority that issued it. It is recommended that you choose brokers with licenses from top financial regulators: the USA, European Union, the UK, as these jurisdictions have the strictest licensing requirements.

What learning instruments can a broker offer?

Brokers offer various educational options. These include full-fledged educational courses, or video tutorials, articles, and books. Companies also often hold seminars and webinars.

How much money do I need in order to start working in the financial markets?

The initial capital depends on the assets you plan to trade. However, in the majority of cases, $300-500 is a good amount for a start.

Can you earn passive income in the financial markets?

Yes, the best brokers of Colombia offer passive income options. These could include copy trading, PAMM accounts, managed portfolios, etc.

Team that worked on the article

Mikhail Vnuchkov
Author at Traders Union

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
Author and editor at Traders Union

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.