Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

Compare Brokers in Brazil

For our brazil comparison, we found 23 brokers that are suitable and accept traders from United States of America.

We found 23 broker accounts (out of 147) that are suitable for Brazil.

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IG

Spreads From

EURUSD 0.6 points See all spreads

What can you trade?

  • Forex
  • Cryptocurrencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About IG

  • Regulated by: Financial Conduct Authority and ASIC.
  • Used by 195,000+ traders.
  • Established in 1974 HQ in UK.

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

Open a demo account

See Deal

75% of retail investor accounts lose money when trading spread bets and CFDs with this provider

Read our in-depth IG review

Account type
EUR/USD Spread From
Commission
Execution
Min. Deposit
CFD
0.6
Fixed Spreads
Yes on share CFDs
STP
$250
Spread Betting
0.6
Fixed Spreads
None
STP
$250
Share Dealing
None
Fixed Spreads
£5
DMA
$250
Forex.com

Spreads From

EURUSD 1.0 points See all spreads

What can you trade?

  • Forex
  • Cryptocurrencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About Forex.com

  • Regulated by: Financial Conduct Authority.
  • Established in 1999 HQ in United States.

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

Open a demo account

See Deal

70% of retail investor accounts lose money when trading CFDs with this provider

Read our in-depth Forex.com review

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The Ultimate Guide to

Best Online Brokers for Brazil

Brazil’s primary stock market, the Brasil Bolsa Balcão S.A, has had a relatively short, but surprisingly convoluted existence. The exchange, often referred to as B3, was formed in March of 2017 after CETIP S.A. merged with the BM&FBOVESPA. The BM&FBOVESPA was created by a previous merger in 2008 between the Brazilian Mercantile and Futures Exchange (BM&F) and the São Paulo Stock Exchange (Bovespa) that had previously assimilated the Rio De Janeiro Stock Exchange or Bolsa de Valores do Rio de Janeiro (BVRJ) in 2002.

The B3 is located in Sao Paulo, Brazil, but also has offices in Rio de Janeiro, London and Shanghai, is the largest stock exchange in Latin America by market capitalisation. It is also the 18th largest stock exchange globally by its market cap of about $520.29 billion in 2019.

In addition to having a listing service for stocks, stock derivatives like futures, forwards and options, and Securities Deposit Certificates (UNITS), the B3 also offers trading in commodities of local importance, interest rates, various exchange rates and fixed income products. Furthermore, the exchange allows trading in Brazilian Depositary Receipts (BDRs) that consist of certificates of shares in foreign companies that are traded in Brazil.

The B3’s main benchmark stock index is the IBOVESPA that has been calculated since 1968 as the total return index made up of the market’s most representative companies by market capitalisation and volume traded. The IBRX 50, also known as the Brazil 50, consists of the 50 most traded stocks on the B3, while the IBRX includes the 100 most traded B3 listed stocks.

The Brazilian national currency is the Brazilian real (BRL) which is issued and managed by the Central Bank of Brazil, or Banco Central do Brazil (BCB). The real is further made up of 100 smaller units that are known as centavos.

The regulatory structure for the Brazilian financial sector is divided into four regulators under the umbrella of the National Monetary Council or Conselho Monetário Nacional (CMN). The Securities and Exchange Commission of Brazil (Comissão de Valores Mobiliários) regulates securities firms, the BCB performs prudential and financial institution supervision, the SUSEP regulates insurance firms and PREVIC regulates pensions.

Furthermore, within the Brazilian Ministry of Finance, the Committee for the Regulation and Supervision of Financial, Securities, Insurance and Complementary Pension (COREMEC) has an advisory role helping promote coordination among the aforementioned four regulators.

The CVM is the main securities sector regulator, being tasked with the legal mandates of promoting financial market development, efficiently functioning and transparent markets, and protecting investors by supervising and sanctioning market participants.

The BCB is also responsible for regulation requirements, licensing and overseeing forex broker activities in Brazil, so only brokers licensed by the central bank are permitted to offer forex trading services in Brazil. Currency trading regulations were notably relaxed in 2005 after the passage of CMN Resolution 3265 that was subsequently modified by CMN Resolution 3568 in 2008.

How to Trade in Brazil

Traders based in Brazil can usually open accounts with leading international forex brokers that offer services to Brazilian clients. Many even have websites translated into the Portuguese language, although few online forex brokers are based in Brazil itself.

When shopping around for an online broker to use for contract for difference (CFD) or forex trading, it could be more convenient to find one that will accept deposits from clients in Brazilian reals. This is something to enquire about prior to opening an account. Additionally, having a broker regulated by the BCB will usually be preferable due to the obligations of the broker to maintain a local reputation with the Brazilian central bank. However, when foreign brokers seem the most attractive, it is crucial to remember that any acceptable broker needs to be subject to a regulated jurisdiction and hold a positive client reputation. Brokers should also keep their own funds separate from those of their clients to ensure that margin deposits are protected, as well as providing an acceptable range of services and tradable assets.   

Also remember that the tradable asset classes available at online brokers can vary considerably among competitors. Note that while almost all online brokers provide some form of forex trading, not all will offer CFD trading that can be preferable since it allows brokers to offer more tradable assets.

For stock trading, the B3 aims to provide a fair and transparent market in a variety of asset classes, in addition to Brazilian stocks. Trades on the B3 exchange are generally executed in Brazilian reals. The B3 exchange uses the PUMA Trading System for transactions in listed securities. This feature-rich platform provides both transaction related operations and a world class risk management facility that allows users to trade safely.

Biggest Opportunities of Trading in Brazil

Brazil’s top trading partners according to the World Bank are China, the United States and Argentina. Following those top three, Brazil also trades actively with the Netherlands, Germany, Japan and South Korea.

With a population of 212.3 million people, Brazil’s GDP was USD $2.054 trillion in 2017 as per the World Bank. Furthermore, Brazil’s GDP per capita income was 78 percent of the global average at $9812.27 in 2017.   

According to World Bank rankings for doing business, Brazil’s highest ranking was related to obtaining  electricity, holding the 40th  position among the countries surveyed. Brazil also ranked 48th in both enforcing contracts and protecting minority investors.

Biggest Challenges of Trading in Brazil

Brazil has been a net exporter since 1959 and could potentially suffer from the current trade dispute between the United States and China due to both countries being amongst Brazil’s largest trading partners. Nevertheless, according to the World Bank, Brazil had an exceptionally low 12.7% ratio of its trade to GDP numbers in 2017, which would tend to mitigate any trade disruptions.

With respect to rankings, the World Bank ranked Brazil at 109th overall for ease of doing business in the country. Other areas that make Brazil a challenge to operate in include paying taxes, dealing with construction permits, starting a business and registering property, with low rankings of 184th, 175th, 140th and 137th respectively.

Summary

Businesses and traders could find Brazil a rather challenging place to operate. Fortunately, traders based in Brazil who want to trade various asset classes on margin should find many online brokers open to accepting them as clients. 

When choosing among the available online brokers that will accept Brazilian clients, traders should make sure they have a decent range of asset classes and a full featured trading platform. Brokers should also have a good reputation with clients and strict oversight from a major regulator.

In general, any trader should aim to find a broker happy to deal with them that also provides a secure place to deposit money to use as margin. A trustworthy broker should also keep clients’ funds separate from its own in case they experience any financial difficulties.

Why Choose IG
For Brazil?

IG scored best in our review of the top brokers for brazil, which takes into account 120+ factors across eight categories. Here are some areas where IG scored highly in:

  • 44+ years in business
  • Offers 10,000+ instruments
  • A range of platform inc. MT4, Mac, Web Trader, L2 Dealer, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 0.60pips
  • Used by 195,000+ traders.
  • Offers demo account
  • 4 languages

IG offers four ways to tradeForex, CFDs, Spread Betting, Share dealing. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

IG have a AAA trust score. This is largely down to them being regulated by Financial Conduct Authority and ASIC, segregating client funds, being segregating client funds, being established for over 44

Trust Score comparison

IG Forex.com
Trust Score AAA AAA
Established in 1974 1999
Regulated by Financial Conduct Authority and ASIC Financial Conduct Authority
Uses tier 1 banks
Company Type Private
Segregates client funds

A Comparison of IG vs. Forex.com


Want to see how IG stacks up against Forex.com? We’ve compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
IG Forex.com
Fixed Spreads
Variable Spreads
EUR/USD Spread 0.60 1.00
GBP/USD Spread 0.9 0.9
USD/CAD Spread 1.7 0.9
USD/JPY Spread 0.70 0.90
DAX Spread 1.0 250.0
FTSE 100 Spread 1.0 150.0
S&P500 Spread 0.4 50.0

Comparison of account & trading features

IG Forex.com
Platform MT4, Mac, Web Trader, L2 Dealer, Tablet & Mobile apps MT4, Web Trader, NinjaTrader, Tablet & Mobile apps
Services Forex, CFDs, Spread Betting, Share dealing Forex
Base currency options USD, GBP, EUR, CHF, JPY, SGD, AUD USD, GBP, EUR
Funding options Payoneer, Credit cards, Bank transfer, PayPal, MasterCard, BPAY, DebitCard, Bank transfer, Cheque, DebitCard,
Micro account
ECN account