Forex Brokers in Brazil

Richard Montana | November 25, 2022

Forex trading in Brazil is popular amongst residents who are looking to buy and sell currencies to speculate on the fluctuating currency market prices. Whilst international forex brokers can accept traders in Brazil as clients, forex brokers in Brazil are required to become authorised by the Securities and Exchange Commission of Brazil (CVM) which is the financial regulatory body in Brazil.

Best forex brokers Brazil

To find the best forex brokers in Brazil, we created a list of all the forex brokers that accept clients in Brazil and then ranked them based on our overall rating. You can see our list of our top forex brokers for Brazil below.

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.

ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA

$100

2006

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
2.

ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA

$250

1974

1:200

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
3.

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

$200

2010

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
4.

ASIC, CySEC, DFSA, IFSC

$5

2009

1:888

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
5.

ASIC, CySEC, FSA, SCB

$200

2007

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

CVM forex brokers in Brazil

The Securities and Exchange Commission of Brazil (CVM) (Portuguese: Comissão de Valores Mobiliários) is the securities market authority in Brazil. It regulates the capital markets in Brazil and all of its participants. This includes stock exchanges, public companies, financial intermediaries and investors. It is an independent agency linked to the Ministry of Finance (Brazil).

The CVM has the following objectives;

  • to assure the proper functioning of the exchange and over-the-counter markets
  • to protect securities holders against fraudulent issues and illegal actions
  • to protect consumers against fraud and market manipulation
  • to make sure that markets are transparent and companies disclose all relevant information
  • to make sure that all market participants adopt fair trading practices
  • to promote investment in financial markets and increase the capitalization of Brazilian publicly held companies.

The Central Bank of Brazil is responsible for making all the rules and guidelines for parties that can execute forex transactions. It has given licenses to a number of major players including licensed forex brokers and financial banks. Other minority players that can still carry out these transactions include tourism agencies, financial entities, stock dealers and even savings bank.

B3 SA Brasil Bolsa Balcao

B3 S.A. – Brasil, Bolsa, Balcão, formerly BM&FBOVESPA, is a stock exchange located in São Paulo, Brazil, and the second oldest of the country. Its current form can be traced back to May 8, 2008, when the São Paulo Stock Exchange and the Brazilian Mercantile and Futures Exchange merged, creating BM&FBOVESPA.

The Company’s service offerings range from exchange trading, clearing and other post-trading services to registration of over-the-counter (OTC) transactions. The Company also provides a listing service and acts as central securities depository (CSD). It develops software solutions and offers index licensing services.

How to verify CVM regulated brokers in Brazil

You can find an authorised broker’s license number from the disclosure text at the bottom of their homepage. You can then contact the CVM to confirm if the forex broker is regulated in Brazil to provide online forex trading products and services.

Some Brazil forex brokers are regulated in more than one jurisdiction so that they can offer a different range of trading accounts and conditions depending on the location of the trader and regulated entity that they choose to open a forex trading account with.

About the Author

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Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.


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