| Updated: November 19, 2024- Jump to:
- Main features of the best Brazil Forex brokers
- Forex Brokers in Brazil Compared by Spread
- Account Types and Commissions
- Forex Legislation
- Financial Regulators
- Payment Methods
- Trading Software
- Mobile Trading
- FAQ
Our team of expert traders tested many regulated and trustworthy forex brokers that accept traders from Brazil and compiled a toplist with the best among them. Each broker operating in Brazil received a quality score based on several factors, including Trustpilot rating, regulation, fees and commissions, available trading platforms, customer service and more.
Fusion Markets74-89% of retail CFD accounts lose money- FP Markets73.85% of retail investor accounts lose money
- Pepperstone75.5% of retail investor accounts lose money
- Global Prime74-89% of retail CFD accounts lose money
- eToro51% of retail investor accounts lose money
- XM Group72.82% of retail investor accounts lose money
Main features of the best Brazil Forex brokers
- Min Deposit$0Trading InstrumentsForex, Commodities, Indices, Crypto, US StocksRegulatorsASIC, FSA (Seychelles), VFSC (Vanuatu)Trading PlatformsMetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade, TradingViewSpread0.9 pips Classic; 0.0 pips ZeroLeverage1:30 (1:500 for forex and metals via VFSC)Deposit MethodsVisa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VNPay, DuitNow, XPay, DragonPay, VAPay, FasaPay, AstroPay, PayID, Jetonbank, Sticpay, Interac, LuqaPay, Zotapay, MiFinityWithdrawal MethodsVisa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay74-89% of retail CFD accounts lose money
Broker operating under licenses from ASIC, VFSC, and FSA. Brazilian traders can open different types of accounts with Fusion Markets and access markets like Forex, Indices, Metals, US Shares, Commodities, and Crypto. Conveniently enough, the broker supports multiple payment methods exclusively available in Brazil. Forex traders can choose from several popular trading platforms, including MT4, MT5, cTrader, WebTrader, and DupliTrade. Depending on their preferences, Brazilian traders can open Classic or ZERO accounts with the broker. The first type offers zero commissions on trades and low spreads starting at 0.9 pips. ZERO traders will enjoy lower spreads from 0.0 pips, with a small round-trip commission of $4.50 charged per trade.
- Min Deposit$50 (AU$100)Trading InstrumentsForex CFDs, Shares CFDs, Metals CFDs, Commodities CFDs, Indices CFDs, Crypto CFDs, ETF CFDsRegulatorsASIC, CySEC, FSA (Seychelles), FSCA, FSA (St. Vincent and the Grenadines)Trading PlatformsMetaTrader4, MetaTrader5, WebTrader, IRESS, cTrader, TradingViewSpread1.0 pips Standard; 0.0 pips RawLeverage1:30Deposit MethodsVisa, Mastercard, Neteller, Bank Transfer, Skill, Sticpay, Fasapay, Virtual Pay, Perfect Money, Pagsmile, Dragonpay, Crypto, Apple Pay, Google Pay, Online Banking, Broker to Broker, PayPal, XPay, RapydWithdrawal MethodsVisa, Mastercard, Bank Wire, Neteller, Skrill, Paytrust88, PayPal73.85% of retail investor accounts lose money
Reputable broker accepting clients from Brazil. Operations are authorized thanks to licenses from top-tier regulators like ASIC, FSA (Seychelles), and FSCA. Brazilian traders can speculate on the prices of various assets, including currency pairs, shares, commodities, ETFs, and other CFD products. Brazilian traders can explore the functions and trading tools of innovative platforms like MT4, MT5, cTrader, WebTrader, and more. Whichever platform traders choose, they will be able to open a Standard or Raw account and start trading with spreads as low as 0.0 pips (Raw) or 1 pip (Standard). Commissions are charged only on trades carried out through Raw accounts, with each side of a trade imposing a $3 commission.
- Min Deposit$50Trading InstrumentsCFDs on Indices, Forex, Shares, Crypto, Futures, Commodities, Options, Interest Rates, Sectors, Bonds, Knock-out tradingRegulatorsASIC, FCA, DFSA, CFTC, FMA, FINMA, BaFin, MAS, JFSA, FSCA, BMA (Bermuda)Trading PlatformsMT4, L2 Dealer, ProRealTime, IG proprietary software, TradingViewSpread0.6 pips CFD trading; 0.165 pips DMA tradingLeverage1:30Deposit MethodsVisa, Mastercard, Bank Transfer, Wire Transfer, Visa Electron, Discover, PayPal, Apple Pay, BPAYWithdrawal MethodsVisa, Visa Electron, Mastercard, Discover, Bank Transfer70% of retail client accounts lose money
Brazilian forex traders can experience smooth and top-notch trading experience at IG, which is a leading broker operation in multiple regions across the globe. Licenses from ASIC, FCA, DFSA, CFTC, FMA, FINMA, BaFin, MAS, JFSA, FSCA, and BMA (Bermuda) ensure access to global trading markets like Forex, Commodities, Indices, and more. Brazilian traders can trade forex pairs as CFDs, Vanilla options, barriers, and even participate in DMA (Direct Market Access) trading. CFD trades come with no commissions and low spreads of a minimum of 0.6 to 0.9 pips on major currency pairs.
- Min Deposit$0Trading InstrumentsForex, Indices, Commodities, Cryptocurrencies, Share CFDs, ETFsRegulatorsUK FCA (No.684312), CySEC (No. 388/20), ASIC (No. 414530), BaFin (No.151148), DFSA, CMA, SCB (Bahamas)Trading PlatformsTradingView, MT5, MT4, cTraderSpreadFrom 0.0 pips (Razor Accounts), 1 pip (Standard Accounts)Leverage1:30Deposit MethodsVisa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, SkrillWithdrawal MethodsVisa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, Skrill75.5% of retail investor accounts lose money
Like many other trading enthusiasts from across the globe, Brazilian traders can also join Pepperstone and open either a Standard or Razor account with the broker. The brand’s operations are monitored by regulators like FCA, BaFin, CMA, DFSA, and ASIC. As for the trading platforms available to Brazilian traders, Pepperstone provides all popular options like MT4, MT5, and cTrader. Trading with a Standard account is extremely cost-effective, with spreads on major currency pairs starting at 1 pip and zero commissions being attached to trades. Meanwhile, Razor accounts will pay a $3 commission per side per lot traded but the spreads on forex pairs will start as low as 0.0 pips.
- Min Deposit$0Trading InstrumentsForex, Cryptocurrencies, Indices, Commodities, BondsRegulatorsASIC (No. 385620), VFSC (No. 40256)Trading PlatformsMT4 Desktop, MT4 Webtrader, MT4 AndroidSpread0.9 pips Standard, 0.0 pips RawLeverage1:500 (1:30 for ASIC entity)Deposit MethodsVisa, Mastercard, PayPal, Skrill, Neteller, Gate8, Dragonpay, Fasapay, VNPay, Pagsmile, BPay, POLi, AstroPay, Bank Transfer, Interac, Perfect Money, PayID, Jeton, MiFinity, XPay, CryptoWithdrawal Methods
Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies
74-89% of retail CFD accounts lose moneyYou can easily open an account with Global Prime if you are a resident of Brazil. Licensed by ASIC and VFSC, the broker caters to its global user base, with Brazilian traders having some payment options exclusively available in their country only. Thanks to the widely popular MT4 platform, members of the broker will gain access to tradable products like forex pairs, cryptocurrencies, indices, bond CFDs, and more. Reduced trading cost is achieved through zero commissions and low spreads starting at 0.9 pips on major currency pairs traded with Standard accounts. Raw Account holders will enjoy reduced spreads from 0.0 pips and a very small commission of $3.50 charged per one side of a trade (1 lot).
- Min Deposit$100Trading InstrumentsForex, Major stock indices, Cryptocurrencies, Commodities, Bonds, Individual Shares, ETFsRegulatorsFFAJ (License No.1574),CySEC (No. 347/17) ISA (No. 514666577), IIROC, ADGM / FSRA (No.190018), CBI (No.C53877), BVIFSC (No. SIBA/L/13/1049), FSCA(No.45984), ASIC (No.406684), JFSA (No. 1662)Trading PlatformsMetaTrader4, MetaTrader5, WebTrader, AvaTadeGO, AvaSocial, AvaOptions, DupliTradeSpreadFrom 0.9 pips (retail), 0.6 pips (pro)Leverage1:30Deposit MethodsVisa, Mastercard, Skrill, WebMoney, Neteller, bank wireWithdrawal MethodsVisa, Mastercard, Skrill, WebMoney, Neteller, bank wire76% of retail investor accounts lose money
It is extremely easy to join AvaTrade, with traders residing in Brazil also having access to multiple products available on AvaTrade’s platforms. The broker has been licensed by strict regulatory bodies like SIC, FFAJ, CySEC, ISA, IIROC, ADGM / FSRA, CBI, BVIFSC, and FSCA. In addition to forex trading, clients of the broker can get exposure to markets like Stocks, Commodities, Indices, and more. The platforms that Brazilians may use for their trading sessions include MT4, MT5, WebTrader, and AvaOptions. Since all trading fees will be built into the spread, AvaTrade ensures low-cost trading with the spread on a major currency pair like EUR/USD starting at 0.9 pips.
- Min Deposit$100 ($1 for Invest MT5 Account)Trading InstrumentsCFDs on Forex, Indices, Stocks, Commodities, Bonds, ETFs, CryptocurrenciesRegulatorsCySEC (No. 201/13), ASIC (No. 410681), FCA (No. 595450), JSC (No. 57026), FSCA (No. FSP51311), EFSA (No. 4.1-1/46), CMA (No. 178), CIRO, FSA (No.SD073)Trading PlatformsMT4, MT5, WebTrader, MT Supreme Edition, StereoTraderSpreadFrom 0.0 pips (Invest and Zero Accounts), 0.5 pips (Trade Accounts)Leverage1:30Deposit MethodsVisa, Mastercard, Skrill, Klarna, Bank Transfer, PayPal, Neteller, iDeal, POLi, Perfect Money, CryptocurrenciesWithdrawal MethodsBank transfer, Visa, Mastercard, PayPal, Neteller, Skrill, Perfect Money73% of retail investor accounts lose money
Enables easy registration process for Brazilian traders, allowing them to open Trade or Zero accounts on both MT4 and MT5. Conveniently, BRL is among the supported base currencies. The broker can reach global traders thanks to licenses from CySEC, ASIC, FCA, JSC, and FSCA. In addition to currency pairs, traders from Brazil may also trade commodities, indices, stocks, cryptocurrencies, and more. Minimum spreads of 0.0 pips on Zero accounts ensure a low cost of trading, with a small commission of $3 per side per lot traded charged on forex and metals trades. Trade.MT4 and Trade.MT5 will remove the commission charge but will adjust slightly the spreads, which will start from 1.2 pips on MT4 and 0.6 pips on MT5.
- Min Deposit$0Trading InstrumentsRegulatorsCFTC, CIRO, FCA, CBI, Central Bank of Hungary, ASIC, SFC (Hong Kong), SEBI, JSDA, MASTrading PlatformsIBKR Desktop, IBKR Trader Workstation, IBKR Mobile, IBKR GlobalTraderSpreadFrom 0.1 pipLeverage1:20Deposit MethodsBank Wire, Check (USA only)Withdrawal MethodsBank Wire
Traders from Brazil are welcome to join Interactive Brokers and start trading numerous instruments on the IBKR proprietary platform. Major regulators like CIRO and CFTC are among the authorities monitoring the operations of the broker. Trades are available from any page of the broker’s platform, allowing access to spot currencies, stocks, bonds, ETFs, and other tradable assets. More than 100 currency pairs can be traded at an extremely competitive price, with commissions ranging between 0.08 and 0.20 bps times the trade size and a tight minimum spread of 0.1 pips.
- Min Deposit$5Trading InstrumentsForex, Stocks, Indices, Commodities, Thematic IndicesRegulators(ASIC) (ref. No. 443670), FSC (license no. 000261/397), DFSA (ref. no. F003484), CySEC (license no. 120/10), CFTC; Registrations for EU passporting: - BaFin, CNMV, MNB, CONSOB, ACPR, FIN-FSA (Finland), KNF, AFM, FSA (Sweden)Trading PlatformsMetaTrader 4 and 5, MetaTrader 4 and 5 on mobile, MT4 WebTrader, MT5 WebTrader, MT4 MultiterminalSpreadFrom 0.0 pips (Zero Account), 0.6 pips (Standard and Micro Accounts)Leverage1:30Deposit MethodsVisa, Mastercard. Skrill, Bank Transfer, Neteller, Apple Pay, Google Pay, UnionPay, MaestroWithdrawal MethodsVisa, Mastercard, China Union Pay, Skrill, Neteller, Bank Transfer72.82% of retail investor accounts lose money
Properly regulated broker accepting registrations from Brazil. Licensing authorities include CySEC, BaFin, CNMV, MNB, CONSOB, FIN – FSA, KNF, ACPR, FSA (Sweden), and AFM. Trading platforms like MT4, MT5, and the XM app enable trading with currency pairs, shares, commodities, precious metals, and plenty of other assets. Traders can choose from three account options, which include Standard, Ulta Low, and Shares. The first two are suitable for forex trading, offering low spreads (from 1.6 pips for Standard and 0.8 pips for Ultra Low) and zero commission charged per trade.
- Min Deposit$250Trading InstrumentsForex, Stocks, Indices, Commodities, ETFs, Indices, CryptocurrenciesRegulatorsFCA (License No. FRN 522157), CySEC (License No.169/12), FSC (FSC License No.: 000302/438), IFSC (License No.: 000302/46.), KNF (N/A), CNMV (N/A), BaFin (registered), FSCA (N/A), FSA Norway (registration ID - FT00118162)Trading PlatformsxStation 5, xStation MobileSpreadFrom 0.1 pips (Pro Account), 0.5 pips (Standard Account)Leverage1:30Deposit MethodsVisa, Maestro, Mastercard, Bank Transfer, Neteller, Skrill, PayPal, Ecommpay, PayUWithdrawal MethodsBank Transfers, Visa, Mastercard, Skrill80% of retail investor accounts lose money
Traders from Brazil can join XTB and choose either to register with its FINMA-regulated entity or access more tradable products through its FSC version. Nevertheless, traders will be able to enjoy smooth trading with fast executions, low trading fees, and various customer protection tools. XTB’s very own trading platform will grant Brazilian traders access to products like forex pairs, stocks, ETFs, indices, and commodities. Account types offer traders to choose the right option for their CFD or Stocks & ETF trading. Forex traders can enjoy cost-effective trading with XTB as spreads start at 0.5 pips and there is no commission charged on CFD orders.
Forex Brokers in Brazil Compared by Spread
| Broker | EUR/USD | USD/JPY | GBP/USD | USD/CHF | AUD/USD | EUR/GBP | USD/CAD |
|---|---|---|---|---|---|---|---|
| 1. Fusion Markets | 0.07 | 0.13 | 1.01 | 0.37 | 0.90 | 0.23 | 0.14 |
| 2. Admirals | 0.1 | 10 | 1.00 | 1.2 | 0.4 | 0.00003 | 1.1 |
| 3. Interactive Brokers | 0.1 | 0.5 | 0.4 | 0.5 | 0.3 | 0.3 | 0.4 |
| 4. Global Prime | 0.13 | 0.28 | 1.11 | 0.34 | 0.07 | 0.28 | 0.26 |
| 5. XM Group | 0.8 | 0.9 | 0.9 | 2.1 | 0.75 | 1.5 | 2.4 |
| 6. IG | 0.85 | 0.9 | 1.40 | 1.95 | 1.01 | 0.9 | 2.1 |
| 7. AvaTrade | 0.9 | 1.3 | 1.3 | 1.3 | 1.1 | 1.2 | 1.8 |
| 8. XTB | 0.9 | 14 | 2.2 | 1.2 | 1.1 | 1.3 | 1.5 |
| 9. Pepperstone | 1.00 (min) | 1.0 | 1.00 (min) | 1.1 | 1.2 | 1.2 | 1.42 |
| 10. FP Markets | 1.1 | 0.30 | 1.2 | 1.8 | 1.2 | 0.20 | 1.5 |
Account Types and Commissions
| Broker | Min Deposit | Account Types | Commission per Lot | Trustpilot Rating |
|---|---|---|---|---|
| 1. Fusion Markets | $0 | Zero, Classic, Islamic, Demo, Professional | $0 Classic Account, $4.50 round turn on Zero Account | 4.9 |
| 2. FP Markets | $50 (AU$100) | Standard, Raw, Demo, Professional, Islamic | $0 Standard Account; $6 round turn on Pro Account | 4.8 |
| 3. Pepperstone | $0 | Standard Account, Razor Account | $0 (Standard Account), $7 round-turn (Razor Account) | 4.7 |
| 4. Global Prime | $0 | Standard, Raw, Demo, Professional, Islamic | $0 Standard Accounts; $7 round turn on Raw Accounts | 4.4 |
| 5. AvaTrade | $100 | Retail, Professional, Islamic, MAM | $0 | 4.4 |
| 6. Admirals | $100 ($1 for Invest MT5 Account) | Trade (Standard), Invest (MT5), Zero | $3 per lot | 3.9 |
| 7. IG | $50 | Spread Betting Account, CFD Trading Account, Limited Risk Account, Islamic, Professional, Demo, Options and Share Dealing Accounts* | $0 | 3.7 |
| 8. XTB | $250 | Standard, Pro, and Islamic Accounts | $0 | 3.7 |
| 9. Interactive Brokers | $0 | IBKR Lite, IBKR Pro | From 0.08 to 0.20 bps x trade size | 3.1 |
| 10. XM Group | $5 | Ultra Low Micro, Ultra Low Standard, XM Zero | $0 Ultra Low Micro and Ultra Low Standard Accounts; $3.50 per side XM Zero Account | 2.9 |
Finding a good and reliable Forex broker in Brazil may be a daunting task for most traders due to the specific legal environment and the overall peculiar nature of the market. Until relatively recently, the South American country had strict controls that made trading on the equity markets practically impossible for retail traders. With its new stance, however, authorities are now allowing access to the largest stock exchanges in the world, as well as the highly popular, decentralized foreign exchange market.
The foreign exchange market (Forex) is extremely regulated in Brazil but Forex trading is becoming popular among local investors as the country is now heading to a more open and liberal regime. This is great news for all investors in the largest economy in South America, which is known for its rainforests, rich natural resources, and the amazing Rio Carnival. With its population of 209.3 million, Brazil is also the largest Portuguese-speaking country in the world. Brazil is among the largest agricultural producers and exporters in the world and with a nominal gross domestic product of over $2 trillion, its economy ranks 9th in the world.
Forex Legislation in Brazil
It is legal to trade on the foreign exchange market in Brazil but only a few online brokers are based in the country. To access the Forex markets, Brazilian traders need to find reliable online brokers – most of the leading international brokers accept Brazilian clients and provide Portuguese-language websites and customer support. It is also more convenient for working with a broker that accepts deposits in Brazil’s local currency, the real (BRL).
In fact, Brazilian-based traders are required to have a trading account in the BRL to access the Forex market. Those who have an account in a foreign currency are allowed to trade only in certain circumstances. Traders are advised to register with a broker licensed by the Central Bank of Brazil, or Banco Central do Brazil (BCB). However, there is no requirement for FX brokers to hold local BCB licenses.
Until 2005, traders in Brazil were allowed to execute trades only if they had been authorized by the Central Bank in advance. Each Forex contract was closely monitored by the BCB, which made this otherwise easy and instant type of trading extremely complex and cumbersome. Most traders were put off by the unfriendly environment and clumsy administration. However, in 2005, Forex trading regulations were relaxed in 2005 with the passing of CMN Resolution 3265, which was then modified by Resolution 3568 in 2008.
According to these amendments, legal entities and individuals are allowed to purchase and sell foreign currency and perform international transfers of any nature as long as they are in the Brazilian currency. Investors can trade Forex pairs without having to obtain prior authorization by the BCB. There is also no limitation to the amount that is traded if the counterparty in the contract is an agent authorized by the BCB.
There are certain regulations traders must comply with, however. First and foremost, each operation in the foreign exchange market is recorded in the Information System of Central Bank of Brazil (Sisbacen). In addition, most Forex operations can be freely canceled upon agreement between the parties. The BCB provides simplified forms for recording transactions of up to $3,000. Simplified and interbank operations, however, cannot be canceled, written off, amended or closed by early settlement. Several things are not allowed in Forex contracts, namely changing the identity of buyers and sellers, changing the value in BRL, the currency code and the foreign exchange rate.
Brazil’s Financial Regulators
The financial sector in Brazil is controlled and regulated by several authorities. One of them is the Banco Central do Brasil or the Central Bank of Brazil (BCB). This is the main monetary authority of the country and it is responsible for the Brazilian monetary policy. In addition, it is the authorizing institution in the country, although offshore online brokers are not required to have licenses from the BCB. The Ministry of Economy is also supervising the entire sector.
The main regulatory body for the capital markets in Brazil is the Securities and Exchange Commission of Brazil (Comissão de Valores Mobiliários or CVM). It was established in 1976 and is an independent agency under the Ministry of Economy. As the primary securities market authority in the country, CVM regulates all participants in the capital markets, including stock exchanges, public companies, financial intermediaries, and investors.
Through policy development and regulation, the CVM aims at guaranteeing that all trades are fair. It also makes sure that no price manipulation or insider trading occurs and that traders are protected against illegal practices, manipulation of the markets to create artificial conditions for supply or demand. The agency must ensure the efficient operation of the stock and OTC markets, as well as full compliance with the regulatory framework and all rules set by the National Monetary Council.
Forex Payment Methods in Brazil
Brazilian traders have access to some of the most popular payment options in the world, including credit cards and digital wallets. The country also has local payment services that allow Brazilians to pay easily online or in-store in BRL. However, the online payments market is relatively restricted by law and just a few local banks dominate it.
Consumers are charged an additional tax of 6.38% if they purchase goods or services from foreign websites. This is the so-called IOF tax and it applies to all international transactions. Not to mention the fact that Forex trading is allowed only to Brazilians with BRL accounts in local banks. For this reason, most traders here prefer using domestic payment options to international ones.
Of course, credit and debit cards by Visa, Mastercard, and American Express are available, although they are mostly issued by local banks and are in BRL. Interestingly, only 20% of Brazilians have access to international credit/debit cards. Various e-wallets can also be used in the country, including PayPal, ecoPayz, Skrill, and Neteller.
In addition, brokers that target Brazilian clients should offer MercadoPago, an online payment platform and e-wallet owned by the Argentine e-commerce company Mercado Libre. The e-wallet can be used by Argentine and Brazilian traders even at brokerage’s websites that only offer PayPal. This was made possible after PayPal and the Argentine company signed a partnership deal.
The leading payment method in the country, however, is Boleto Bancário, a push payment system created in 1993 by Brazilian fintech company PagBrasil. Boleto transactions account for approximately a quarter of all online payments in Brazil. It allows individuals to make online purchases and pay for them over the Internet, via online banking, or in cash at any bank branch, at ATMs, or authorized processors – these include more than 13,000 lottery agencies, pharmacies, and supermarkets.
Popular Trading Software in Brazil
When looking for a trusted Forex broker online, traders in Brazil should take into consideration the particular trading platforms offered by each brokerage firm. The best brokers on the market provide their clients with at least 2 or 3 different platforms, suitable to investors of varying levels of experience. Some brokers also offer proprietary software that was developed with specific types of trading or certain countries in mind.
What traders should look for is a platform that gives them access to the markets and instruments they wish to trade – whether this is Forex, CFDs (contracts for difference), futures, commodities, company stock, indices, etc. Good trading platforms also have user-friendly software, full compatibility with different devices and operating systems, as well as quick execution of orders. Less experienced investors should look for a trading platform that comes with a wide range of educational tools, copy trading functions, and demo accounts that allow no-risk trading. Some trading platforms also feature advanced analytic tools, high functioning charts, dozens of technical indicators, and many more.
Several types of trading software are well-known among traders and offered by the vast majority of online Forex and CFD brokers. One of them the MetaTrader 4, released in 2005 by MetaQuotes Software and designed specifically for Forex and futures trading. Although the platform is now 15 years old, it remains the most popular software solution for online retail foreign exchange speculative trade.
It is user-friendly, available in multiple languages, including Portuguese, and can be used on all devices, including PC, Mac, Android, and iOS. Moreover, MT4, as it is also known, is flexible and fully customizable, allowing traders to add or remove different technical indicators. The platform offers algorithmic trading, advanced technical analysis, web trading for those who do not want to download the software on their computer, and trading robots, also known as Expert advisors.
While MT4 is perfect for Forex and CFD trading, however, it has limited capabilities when it comes to full-time trading on stock exchanges. This is why some traders prefer the seemingly similar MetaTrader 5. Although it was developed by the same company and it does resemble MT4, MT5 is quite different as it focuses on trading with stocks. The trading terminal was released in 2010 to offer traders access to the largest stock exchanges around the world. Now, Brazilian traders can use it for trading equities, Forex, and indices, while taking advantage of advanced technical and fundamental analysis, multicurrency strategy tester, trading robots, social trading, and many more.
Other popular trading platforms include cTrader, TradingView, TradeStation, and Ninja Trader and each one of them comes with its strengths and limitations. To choose a platform, traders should start with a free, demo account and test its functionality and various features. Even better, they can use several platforms at once as long as they choose a reliable, experienced broker who offers good trading conditions such as low spreads, competitive fees, client fund protection, etc.
Mobile Trading in Brazil
Forex trading constantly changes, becoming more accessible and convenient than ever before. The development and recent surge of mobile technologies in the past decade have greatly contributed to this change in the trading experience. Traders now can access global markets, track their orders, get constant news updates on their mobile devices.
The flexibility and convenience of mobile trading have become extremely important in recent years – Forex markets are, after all, open 24 hours a day and although trade is normally closed for retail traders over the weekend, trading still takes place among central banks and other financial institutions. An increasing number of brokers now give their clients the option to trade on weekends even if a limited number of instruments and Forex pairs are usually available. And those traders who can instantly open their trading accounts from their phones have the advantage.
To be able to trade on the go, investors in Brazil should find a suitable Forex broker that offers mobile trading. Of course, they need to own a mobile device such as an iPhone, iPad, Android phone or tablet, or even less popular devices such as BlackBerry (finding trading apps for these phones, however, could be a challenge). For instant execution and effortless trading activity, users also need to make sure they have a strong and stable Wi-Fi connection. Then, they simply find the app on the website of the broker they have signed with or on Google Play and Apple’s App Store.
The vast majority of trading apps are free to download and install, with the installation process typically taking up to 2 or 3 minutes. In addition, some of the best apps give free and easy access to market news, price quotes, and charting. Traders should also opt for an application that has a user-friendly, intuitive interface, and performs really fast since quotes can change within seconds – the major currency pairs are highly volatile and vulnerable to economic news 24 hours a day.