Nomad Review 2026
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 300 BRL
- Nomad mobile apps for Android and iOS
- No
- 30 days’ notice of fee changes, investment services through partners, conversion operations with fees based on Nomad Pass level
Our Evaluation of Nomad
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Nomad is a broker with higher-than-average risk and the TU Overall Score of 4 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Nomad clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
How we tested Nomad
Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Brief Look at Nomad
Nomad is a fintech company that since 2020 has provided Brazilians with direct access to the U.S. stock market, global accounts, and international debit cards. It enables favorable foreign currency purchases and exchanges, shopping abroad in physical and online stores without conversion fees, and worldwide use of cards issued in Brazil. The managing company is registered in the United States and operates under the supervision of the SEC (Securities Exchange Commission). Banco Ourinvest SA, which transfers Nomad clients’ funds, is regulated by the CVM (Comissão de Valores Mobiliários).
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- Account opening within 1 business day.
- Minimum order for stocks, ETFs, and REITs is $1.
- Fixed income products are available.
- Asset lending program with no access fee.
- Transparent currency conversion fees.
- No fees for account opening, maintenance, or trading stocks, ETFs, or REITs.
- User funds insured by the FDIC up to $250,000.
- Minimum currency conversion amount is 300 to 6000 BRL depending on the investment type.
- No leverage.
- Transfer limits apply daily, monthly, and annually.
TU Expert Verdict
Chief Analytics Officer
Nomad offers Brazilian residents direct access to trading U.S. stocks, ETFs, REITs, and bonds through its proprietary mobile apps, requiring an initial deposit of 300 BRL for most assets and $1 minimum orders for stocks, ETFs, and REITs. Investors benefit from commission-free trading, transparent currency conversion fees, fractional investing, and account security through FDIC and SIPC coverage. Nomad operates with SEC regulation in the United States, and clients gain access to both an International account for USD storage and an Investment account for securities trading, with market and scheduled order types aligned with U.S. trading hours.
However, a notable drawback is that there is no leverage available, which restricts trading strategies for users seeking margin. Other disadvantages include daily, monthly, and annual transfer limits, minimum currency conversion amounts starting at 300 BRL, and commission-based currency conversion. Nomad may not be suitable for active traders who require leverage or those prioritizing very low transaction costs, but it could suit investors seeking straightforward, commission-free access to U.S. markets with mobile convenience.
Nomad Summary
Your capital is at risk. The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed Income can be substantial.
| 💻 Trading platform: | Nomad mobile apps for Android and iOS |
|---|---|
| 📊 Accounts: | Investment account (conta investimento), International account (conta internacional) |
| 💰 Account currency: | USD |
| 💵 Deposit / Withdrawal: | Conversion from BRL, transfers between accounts, ACH or wire transfer, international transfers |
| 🚀 Minimum deposit: | 300 BRL for stocks, ETFs, and REITs; 6000 BRL for bonds |
| ⚖️ Leverage: | No |
| 💼 Copy Trading: | No |
| 📈️ Min Order: | $1 for stocks, ETFs, and REITs; $1000 for bonds |
| 💱 EUR/USD spread: | No broker commission for investments in stocks, ETFs, or REITs |
| 🔧 Instruments: | Stocks, ETFs, REITs, bonds, investment funds, CDS |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | N/A |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Market Order, Scheduled Order |
| ⭐ Trading features: | 30 days’ notice of fee changes, investment services through partners, conversion operations with fees based on Nomad Pass level |
| 🎁 Contests and bonuses: | Yes |
Through the Nomad app, investors can access U.S. assets, including stocks, fixed income securities, real estate, and ETFs, without broker or intermediary fees and with reduced IOF. Clients have access to NYSE and Nasdaq with government-level protection. The minimum investment is $1 for stocks, ETFs, and REITs, and $1000 for bonds.
Nomad Key Parameters Evaluation
Trading Account Opening
To open a Nomad investment account remotely, follow these steps:
Install the Nomad app and begin registration.
Provide name, surname, nationality, address, phone, and email.
Upload documents: RG, passport, or CNH.
Complete KYC and wait for approval of the International Account.
Open an investment account in the app. Go to Investments → Get Started and answer questions about acceptable risks and trading experience.
Additional features of Nomad’s User Account allow traders to:
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Deposit and withdraw funds.
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View monthly account statements.
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Access banking details such as SWIFT and ACH.
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Check balances, view transactions, and transfer funds between the International and Investment accounts.
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Track Nomad Pass loyalty status and points.
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Update registration data.
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Contact live chat support.
Is Nomad Safe?
Nomad provides investment services to Brazilian residents through the partner Global DTVM, which is registered in Brazil and supervised by the CVM (Comissão de Valores Mobiliários). In the United States, the company is regulated by the SEC with registration number 801-118287. User accounts are covered by FDIC insurance up to $250,000. Securities are offered by Nomad Investment Services, a member of SIPC, with protection up to $500,000.
Advantages
- Protection of funds through the FDIC and SIPC
- Transparent operations
- Availability of legal recourse
Disadvantages
- Restrictions on trading strategies
- Higher fees
- Possible transaction delays
Commissions and Fees
Trading stocks, ETFs, bonds, and REITs is commission-free. Transfers between the International and Investment accounts are commission-free, but daily, monthly, and annual limits apply. Currency conversion starts at 1% plus operating costs. It can be up to 3.5% for deposits and up to 1.1% for investments. Asset transfers involve fixed fees that depend on the transfer method, for example $65 via ACAT.
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Investment account | $0 | Bank fees may apply |
Nomad charges no account opening or maintenance fees.
Account Types
Nomad offers a single investment account for investors who want to trade U.S. securities. To open an Investment account, a user must first have an International account.
The W-8BEN form is filled automatically based on the registration information. When opening an investment account in the Nomad app, the client receives an account with U.S. partner brokers DriveWealth and Apex Clearing.
Deposit and Withdrawal
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The minimum withdrawal amount is not set, and the maximum is 14,000 BRL.
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International bank transfers cost $6 for incoming transfers, and intermediary fees may apply.
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Nomad Pass levels 4 and 5 are exempt from withdrawal fees.
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ATM withdrawals with the Nomad international debit card are free for the first two per month in the MoneyPass network. Then there is a $5 fee for out-of-network withdrawals.
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Incoming ACH transfers in the United States are free. Outgoing transfers cost $10.
Investment Options
Nomad offers the Wealth service, which provides personalized investment consulting. It includes comprehensive financial planning, instrument selection, and portfolio management to preserve and grow capital.
Nomad Wealth – investment consulting with a personalized approach
Nomad Wealth helps clients build and manage capital in Brazil and abroad. It targets investors who want global access to opportunities and prefer guidance from a qualified team with international experience.
Features of Nomad Wealth:
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Personal consultation and access to recommended portfolios aligned with the investor’s profile and life stage.
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Transparent service with no hidden fees. The team is focused on client goals.
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Support for investments in Brazil and abroad to build a global portfolio.
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Registered with the CVM as a securities adviser.
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Team qualifications include ANBIMA certification. Individual specialists have 5 to 15 years of experience and credentials such as CFP, CNPI, CGA, CEA, and SIE.
Advisers support clients at every stage, from choosing a strategy to implementing an individual portfolio, with transparent terms and no conflicts of interest.
Nomad Partnership Program
Nomad offers partnership programs for influencers, advertising companies, investment experts, website owners, and other target groups interested in promotional tools for compensation. Terms can be requested on the company’s website by completing a short form.
Customer Support
The broker provides 24/7 support. If an issue cannot be resolved by customer service, a client can contact Nomad’s Ombudsman department. It is available Monday to Friday from 9:00 to 18:00, except holidays.
Advantages
- Professional assistance on any issue
- 24/7 support
- Access to the Ombudsman service for disputes
Disadvantages
- Few contact methods
- No personal manager for retail clients
Available support channels:
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Chat.
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Email.
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Phone numbers.
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Broker offices.
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Social networks: Instagram, TikTok, LinkedIn.
Chat is available in the app and on the Nomad website in the Help section.
Contacts
| Foundation date | 2020 |
|---|---|
| Registration address | 873 El Camino Real, Menlo Park, CA 94025 |
| Regulation |
SEC
Licence number: 801-118287 |
| Official site | https://www.nomadglobal.com/ |
| Contacts |
(11) 4200-0204, +1 (888) 998-2261, +1 (689) 220-6078
|
Education
The Nomad Portal is an educational and analytical platform where users can learn how to invest abroad. It includes articles, recommendations, glossaries, and thematic tracks. A distinctive feature is the dual format. Materials are both analytical and educational, from simple explanations to deep market reviews, with a focus on investing from Brazil to the United States.
Nomad holds client webinars through Google Meet.
Detailed review of Nomad
Nomad offers a fully digital service that allows users to convert BRL to USD and invest abroad starting from $1. Users receive convenient access to investments and complete reports for tax filing. The company focuses on U.S. markets that include securities of more than 6000 companies. Clients receive direct access to stocks with eligibility for dividends.
Nomad by the numbers:
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Operating since 2020.
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More than 2 million clients.
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Client assets exceed 2 billion BRL.
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International transfers exceed 5 billion BRL.
Nomad as a fintech platform for convenient investing in U.S. securities
In the Nomad mobile apps, users can buy 19 foreign currencies with BRL or sell them for BRL. The company offers a commercial exchange rate rather than a tourist rate. The price reflects market moves and excludes bureau and bank surcharges. A financial operations tax of 1.1% applies to the transaction amount. Automatic purchases of USD with BRL are available. The user sets an acceptable USD price, and the purchase executes within 1 business day once that price is reached without additional confirmation.
The Nomad platform provides access to U.S. and Brazilian debt instruments, including government and corporate bonds. Fixed income ETFs with various issuers and maturities are also available. The service plans to add U.S. certificates of deposit.
Useful Nomad services:
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Market analysis and current forecasts.
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Educational guides on investing, such as how to evaluate ETFs and what Nasdaq is.
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Themes on investment drivers and trends, including AI.
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Chart of the Week, which features visual charts with analyst commentary.
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News and articles on taxation, market changes, and global opportunities.
Advantages:
Convert BRL to USD directly in the app.
Global market access to stocks, ETFs, REITs, and fixed income.
Notice 30 days before changes to trading terms.
Multiple funding channels, including conversion and international transfers.
The Nomad Pass program influences conversion rates.
Convenient for Brazilian investors who want to invest abroad.
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