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.
FBS is a broker for those who appreciate a variety of trading instruments and prompt support. The company is suitable for both beginners and experienced traders working on PCs and smartphones.
Pocket Option is an unregulated broker focused on cooperating with professional traders who do not need training or additional bonuses.
The HFM broker focuses on traders from Europe. The company offers a variety of investment options and is suitable for both novice and professional traders.
Forex4you is an all-in-one broker for active and passive trading, rates well for both novice traders and professional level traders.
Best forex brokers for beginners in Brazil in 2024
| RoboForex | FBS | Pocket Option | HFM | Forex4you | |
|---|---|---|---|---|---|
Trading platform |
МТ4, МТ5, R StocksTrader, R MobileTrader, R WebTrader |
MetaTrader 4, MetaTrader 5, FBS Trader |
МТ5, proprietary platform |
MetaTrader 4, MetaTrader 5, Webtrader, Mobile Trading and HFM Platform |
МТ4, Forex4you, МТ5 |
Min deposit |
$10 |
$1 |
$5 |
$0 |
$0 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:400 |
From 1:10 |
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 0.2 points |
From 1.2 points |
From 0.0 points |
From 0.1 points |
Level of margin call / stop out |
60% / 40% |
40% / 20% |
30% / 50% |
50% / 20% |
100% / 20% |
Execution of orders |
Market Execution, Instant Execution |
Market Execution |
Market Execution |
Market Execution |
Market Execution, Instant Execution |
No deposit bonus |
No |
$5 |
No |
No |
No |
Cent accounts |
Yes |
Yes |
No |
Yes |
Yes |
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 brokerage company that was founded in 2009. RoboForex is a leading software developer in the Forex industry and one of the best Forex brokers based on client reviews.
RoboForex is recognized as a reliable partner by the most respected financial market experts. The company has won numerous prestigious awards. The RoboForex group of companies has an international license to provide services from FSC Belize (license No. 000138/437).
👍 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 - FBS
FBS (fbs.com) is an international broker operating in 190 countries. The brokerage company has been on the market for over 10 years, and during this time it has earned about 40 international awards. It is regulated by the CySEC under license number 331/17 and provides flexible conditions for Forex trading. In addition to classic currency pairs, the company's clients can trade indices, futures contracts, exotic currencies, and metals. FBS is especially popular in Asian countries such as India, Malaysia and Indonesia.
👍 Advantages of trading with FBS for traders from Brazil:
•negative balance protection;
•a large selection of trading instruments;
•the support service works 24/7.
👎 Disadvantages of FBS for traders from Brazil:
•no cryptocurrency;
•auto copying is not available;
•no PAMM accounts;
•not suitable for short-term trading, such as scalping;
•the support service works in a limited number of languages;
•only two real accounts.
FBS Commissions & Fees for traders from Brazil
FBS 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.
FBS Commissions and Fees in Brazil
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard |
From $1.7 |
No |
Cent |
From $1.3 |
No |
3
Best Forex broker for beginners in Brazil - Pocket Option
The Pocket Option broker is part of Gembell Limited holding, which was founded by a group of professionals seasoned in trading and investment activities. The company is mass-market requirements-based, therefore, it provides quality services to binary options trading in the OTC market access. The broker strives to make the trading process as simple, clear, and convenient as possible. For this reason, Pocket Option has developed a unique trading platform to ensure stable trading for traders and investors.
👍 Advantages of trading with Pocket Option for traders from Brazil:
•low threshold for entering the market; the first deposit starts at $5;
•social trading platform generates passive income.
👎 Disadvantages of Pocket Option for traders from Brazil:
•not licensed by any reputable regulator;
•to trade Forex through MetaTrader 5, you need to deposit at least $1,000;
•support service responds within 24-48 hours, which is also too slow.
Pocket Option Commissions & Fees for traders from Brazil
Pocket Option 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.
Pocket Option Commissions and Fees in Brazil
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Novice trader |
No |
Yes, when withdrawal with Perfect Money |
Beginner |
No |
Yes, when withdrawal with Perfect Money |
Experienced |
No |
Yes, when withdrawal with Perfect Money |
Master |
No |
Yes, when withdrawal with Perfect Money |
Professional |
No |
Yes, when withdrawal with Perfect Money |
Expert |
No |
Yes, when withdrawal with Perfect Money |
MT5 Forex |
From 1.1 pips |
Yes, when withdrawal with Perfect Money |
4
Best Forex broker for beginners in Brazil - HFM
HFM is a broker owned by the HF Markets Group, offers a wide variety of account types, and has the widest selection of trading assets and high-quality software. HFM also has favorable trading conditions and instant execution of orders. Plus, a solid list of tools and services allow everyone to choose the best option. The broker's reliability is confirmed by the license of several regulators. The company's work experience in the financial, brokerage and other services market is over 10 years. Within that time, HFM has received 35 prestigious awards. For trading, MetaTrader 4 and MetaTrader 5 trading terminals are used.
👍 Advantages of trading with HFM for traders from Brazil:
•favorable trading conditions and low spreads - from 0 pips;
•controlled by several regulators;
•no commissions for account replenishment and bank transfers.
👎 Disadvantages of HFM for traders from Brazil:
•Withdrawal terms do not always correspond to those indicated;
•Few account currencies, which is why some clients have to pay for double conversion;
•The choice of electronic payment systems for replenishment/ and withdrawal is rather modest;
•Registration is quite easy, but while it is in progress, you cannot learn the conditions on other types of accounts;
•Customer support is closed on weekends.
HFM Commissions & Fees for traders from Brazil
HFM 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.
HFM Commissions and Fees in Brazil
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Zero spread |
From $0 |
No |
Cent |
From $12 |
No |
Premium |
From $12 |
No |
PRO |
From $5 |
No |
5
Best Forex broker for beginners in Brazil - Forex4you
The broker Forex4you started in 2007. The company provides a full range of active and passive trading services in the Forex market. The company runs its operations in the British Virgin Islands, under the license BVI FSC (license number SIBA/L/12/1027). Forex4you is committed to responsibility and professionalism. In 2018, according to Le Fonti, the company was awarded the ‘Best Broker’ which is the highest award achievable, and prior to this it has consistently won and received nominations for awards including ‘Forex Broker of the Year’ and ‘Best Service Quality’ nomination. Read more about Forex4You Available Countries.
👍 Advantages of trading with Forex4you for traders from Brazil:
•best trading conditions for novice traders;
•no trading restrictions on scalping and algorithmic trading;
•the possibility of passive income - social trading platform Share4you;
•the broker has an insurance for $10 million on a contingency basis;
•there are cent accounts with a minimum transaction amount of 2 cents.
•customer support responds to customer inquiries within 8 hours, even on weekends.
👎 Disadvantages of Forex4you for traders from Brazil:
•Relatively high fixed fees on Pro accounts.
•Traders from the U.S, Canada, Japan, and EU countries cannot use services of the broker.
Forex4you Commissions & Fees for traders from Brazil
Forex4you 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.
Forex4you Commissions and Fees in Brazil
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Cent Fixed |
from $0.2 |
Yes |
Cent Pro |
From $0.01 |
Yes |
Classic Fixed |
From $20 |
Yes |
Classic Pro |
From $1 |
Yes |
Classic Standard |
from $9 |
Yes |
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 | FBS | Pocket Option | HFM | Forex4you | |
|---|---|---|---|---|---|
Overall score |
8.61 |
8.28 |
6.87 |
8.09 |
7.44 |
Execution of orders |
8.95 |
9.5 |
9.52 |
9 |
8.65 |
Investment instruments |
8.2 |
6.96 |
4.29 |
8.91 |
6.1 |
Withdrawal speed |
9.71 |
9.57 |
9.64 |
8.86 |
6.4 |
Customer Support work |
9.17 |
7.58 |
4.38 |
5.42 |
8.5 |
Variety of instruments |
8.75 |
7.02 |
6.01 |
7.37 |
5.77 |
Trading platform |
6.86 |
9.03 |
7.38 |
8.95 |
9.22 |
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.
Best Forex Brokers for Beginners by Countries
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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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
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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.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
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