Best Day Trading Platforms and Brokers in Brazil 2024
To day trade markets such as currency pairs containing the Brazilian real (BRL) or stocks listed on the Brazil Stock Exchange (B3), you’ll need an online broker. Yet with the Comissão de Valores Mobiliários (CVM) a less active regulator, many Brazilians turn to trusted overseas brokers (your local regulations and tax rules still apply).
We’ve identified the best brokers for day trading in Brazil following hands-on tests and analysis. These platforms accept traders from Brazil and some cater specifically to Brazilians by accepting local payment methods like Boleto and providing BRL trading accounts.
Top 10 Platforms For Day Trading In Brazil
After years evaluating hundreds of online brokers, these 10 platforms stand out as the best for short-term traders in Brazil:
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1IC Markets
Ratings
$2000.01 Lots1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)ASIC, CySEC, FSA, CMACFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, CryptoMT4, MT5, cTrader, TradingView, TradingCentral, DupliTradePayPal, Skrill, Neteller, Visa, UnionPay, Wire Transfer, Rapid Transfer, Mastercard, POLi, BPAY, Credit Card, Klarna, Swift, SafeChargeUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
2Deriv.com
Ratings
$50.01 Lots1:1000MFSA, LFSA, VFSC, BFSCCFDs, Multipliers, Forex, Stocks, Indices, CommoditiesDeriv Trader, Deriv X, MT5, TradingViewNeteller, Visa, Skrill, WebMoney, FasaPay, Perfect Money, Diners Club, Banxa, Paytrust, Wire Transfer, Mastercard, Credit Card, JCB Card, Sticpay, Trustly, Volet, Paysafecard, AstroPay, Maestro, Airtm, Boleto, JetonCash, Przelewy24USD, EUR, GBP, AUD -
3AvaTrade20% Welcome Bonus up to $10,000
Ratings
$1000.01 Lots1:30 (Retail) 1:400 (Pro)ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, FuturesWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTradeSkrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, BoletoUSD, EUR, GBP, CAD, AUD -
4Exness
Ratings
$100.01 Lots1:2000FSA, CySEC, FCA, FSCA, FSC, CBCS, CNMV, KNF, AFMCFDs, Forex, Stocks, Indices, Commodities, CryptoExness Trade App, MT4, MT5, TradingCentralWire Transfer, Credit Card, Visa, Mastercard, Bitcoin Payments, Boleto, AirtelUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR, KRW, MXN, KES, CNY -
5IC Trading
Ratings
$2000.01 Lots1:500FSCCFDs, Forex, Stocks, Indices, Commodities, Bonds, Cryptos, FuturesMT4, MT5, cTrader, AutoChartist, TradingCentralPayPal, Neteller, Mastercard, Visa, Wire Transfer, Debit Card, Credit CardUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
6PepperstoneCFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
Ratings
$00.01 Lots1:30 (Retail), 1:500 (Pro)FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCBCFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread BettingMT4, MT5, cTrader, TradingView, AutoChartist, DupliTradeVisa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, SkrillUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
7XM$30 No Deposit Bonus When You Register A Real Account
Ratings
$50.01 Lots1:1000ASIC, CySEC, DFSA, IFSCCFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, EnergiesMT4, MT5, TradingCentralCredit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-PesaUSD, EUR, GBP, JPY -
8Eightcap
Ratings
$1000.01 Lots1:500ASIC, FCA, CySEC, SCB, CNMVCFDs, Forex, Stocks, Indices, Commodities, CryptoMT4, MT5, TradingViewNeteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal, Dragonpay, PIX PaymentUSD, EUR, GBP, CAD, AUD, NZD, SGD -
9eToro51% of retail investor accounts lose money when trading with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Ratings
$100$10FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMFCFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTseToro Web, CopyTrader, TradingCentralVisa, Skrill, Neteller, Wire Transfer, Rapid Transfer, Swift, Debit Card, iDeal, Klarna, Sofort, Trustly, Przelewy24USD, EUR, GBP -
10FOREX.com20% Welcome Bonus Up To $5000
Ratings
$1000.01 Lots1:400NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMAForex, CFDs, Stocks, Indices, Commodities, Futures, Options, CryptoMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentralWire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN
This is why we think these brokers are the best in this category:
- IC Markets - IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
- Deriv.com - Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.
- AvaTrade - AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.
- Exness - Exness is a Cyprus-based forex and CFD brokerage established in 2008. With over 800,000 clients, several awards and reputable licensing, the broker has maintained its position as a highly respected global brand. Active day traders can access the popular MT4 and MT5 platforms, raw spreads and multiple account types.
- IC Trading - IC Trading is part of the established IC Markets group. Built for serious traders, it boasts some of the most competitive spreads, reliable order execution, and advanced trading tools. The catch is that it’s registered in the offshore financial centre of Mauritius, enabling it to offer high leverage but in a weakly regulated trading setting.
- Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
- XM - XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been delivering low trading fees across its growing roster of 1000+ instruments. It’s also highly regulated, including by ASIC and CySEC and offers a comprehensive MetaTrader experience.
- Eightcap - Eightcap is a multi-regulated forex and CFD broker established in Australia in 2009. The broker has proven popular with active day traders, providing 800+ instruments with tight spreads and notable improvements in recent years, integrating the leading TradingView platform, alongside AI-powered financial calendars and algo trading tools with zero coding experience required.
- eToro - eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 51% of retail CFD accounts lose money.
- FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
Best Day Trading Platforms and Brokers in Brazil 2024 Comparison
IC Markets
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
Christian Harris, Reviewer
IC Markets Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto |
Regulator | ASIC, CySEC, FSA, CMA |
Platforms | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade |
Minimum Deposit | $200 |
Minimum Trade | 0.01 Lots |
Leverage | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
- As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
Cons
- There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
- While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
Deriv.com
"Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock. "
Jemma Grist, Reviewer
Deriv.com Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Multipliers, Forex, Stocks, Indices, Commodities |
Regulator | MFSA, LFSA, VFSC, BFSC |
Platforms | Deriv Trader, Deriv X, MT5, TradingView |
Minimum Deposit | $5 |
Minimum Trade | 0.01 Lots |
Leverage | 1:1000 |
Account Currencies | USD, EUR, GBP, AUD |
Pros
- Deriv X now features TradingView integration for a modern trading experience with a superior charting package
- Beginners and experienced day traders can access a good range of 20+ technical indicators in Deriv Trader vs 30+ in MT5
- There's a good range of fast deposit and withdrawal methods with zero payment fees and low minimum deposits
Cons
- There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
- There's no loyalty program or rebate scheme for high volume traders
- The range of 100+ assets trails some competitors such as Quotex which offers 400+
AvaTrade
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
Jemma Grist, Reviewer
AvaTrade Quick Facts
Bonus Offer | 20% Welcome Bonus up to $10,000 |
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Demo Account | Yes |
Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures |
Regulator | ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM |
Platforms | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade |
Minimum Deposit | $100 |
Minimum Trade | 0.01 Lots |
Leverage | 1:30 (Retail) 1:400 (Pro) |
Account Currencies | USD, EUR, GBP, CAD, AUD |
Pros
- AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
- The broker offers reliable 24/5 multilingual customer support with fast response times during testing
- There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
Cons
- It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here
- There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
- Traders from the US are not accepted
Exness
"Exness remains an accessible broker for all experience levels, though experienced day traders will particularly appreciate the ultra-low commission rates, fast withdrawals and high-quality charting software."
Tobias Robinson, Reviewer
Exness Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto |
Regulator | FSA, CySEC, FCA, FSCA, FSC, CBCS, CNMV, KNF, AFM |
Platforms | Exness Trade App, MT4, MT5, TradingCentral |
Minimum Deposit | $10 |
Minimum Trade | 0.01 Lots |
Leverage | 1:2000 |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR, KRW, MXN, KES, CNY |
Pros
- Local payments are available, plus deposits in BTC and USDT
- Unlike many other brands, Exness doesn't charge any account maintenance or inactivity fees
- The broker is accessible for beginners with low minimum deposits from $10 and flexible payment methods
Cons
- There are no promotional deals or loyalty schemes for high-volume day traders
- There are several regional restrictions for retail traders including the USA, Europe and the UK
- Unlike most competitors, Exness doesn't provide its own education section
IC Trading
"With superior execution speeds averaging 40 milliseconds, deep liquidity, and powerful charting software, IC Trading delivers an optimal trading environment tailored for scalpers, day traders, and algorithmic traders. "
Christian Harris, Reviewer
IC Trading Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Cryptos, Futures |
Regulator | FSC |
Platforms | MT4, MT5, cTrader, AutoChartist, TradingCentral |
Minimum Deposit | $200 |
Minimum Trade | 0.01 Lots |
Leverage | 1:500 |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- Trading Central and Autochartist are valuable tools for in-depth technical summaries and actionable trading ideas and are accessible from within the account area or the cTrader platform.
- IC Trading provides industry-leading spreads, including 0.0-pip spreads on major currency pairs such as EUR/USD, making it ideal for day traders.
- IC Trading offers unusual flexibility in its accounts, enabling traders to open up to 10 live and 20 demo accounts, meaning you can run separate profiles for different activities, such as manual trading and algo trading.
Cons
- Customer support performed woefully during testing with multiple attempts to connect via live chat and no one available to assist, plus unanswered emails, raising concerns about its ability to address urgent trading concerns.
- Unlike IC Markets, IC Trading does not support social trading through the group’s IC Social app or the third-party copy trading platform ZuluTrade.
- The educational resources are greatly in need of improvement, unless you navigate to the IC Markets website, posing a limitation for beginners in search of a comprehensive learning journey, especially compared to category leaders like eToro.
Pepperstone
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
Christian Harris, Reviewer
Pepperstone Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting |
Regulator | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB |
Platforms | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade |
Minimum Deposit | $0 |
Minimum Trade | 0.01 Lots |
Leverage | 1:30 (Retail), 1:500 (Pro) |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
- There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
- Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
Cons
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
- Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
XM
"With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years."
Christian Harris, Reviewer
XM Quick Facts
Bonus Offer | $30 No Deposit Bonus When You Register A Real Account |
---|---|
Demo Account | Yes |
Instruments | CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies |
Regulator | ASIC, CySEC, DFSA, IFSC |
Platforms | MT4, MT5, TradingCentral |
Minimum Deposit | $5 |
Minimum Trade | 0.01 Lots |
Leverage | 1:1000 |
Account Currencies | USD, EUR, GBP, JPY |
Pros
- XM stands out for its commitment to trader education, with a wealth of well-presented resources, including webinars, tutorials, and even real-time trading sessions through XM Live.
- XM’s Zero account is ideal for day trading with spreads from 0.0 pips, 99.35% of orders executed in <1 second, and no requotes or rejections.
- XM’s customer support has delivered over years of testing, with 24/5 assistance in 25 languages, response times of <2 minutes and now a growing Telegram channel.
Cons
- XM relies solely on the MetaTrader platforms for desktop trading, so there’s no in-house downloadable or web-accessible solution for a more beginner-friendly user experience with unique features.
- While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders.
- XM is falling behind the curve by not offering cTrader and TradingView which are increasingly being favored over MetaTrader for their smoother user experience and superior charting packages.
Eightcap
"Eightcap delivers in every area for day traders with a growing selection of charting platforms, education via Labs, and AI-powered tools. Now sporting 120+ crypto CFDs, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."
Christian Harris, Reviewer
Eightcap Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto |
Regulator | ASIC, FCA, CySEC, SCB, CNMV |
Platforms | MT4, MT5, TradingView |
Minimum Deposit | $100 |
Minimum Trade | 0.01 Lots |
Leverage | 1:500 |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- Having excelled across all key areas for day traders, Eightcap outperformed every competitor to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
- Eightcap stands out with a selection of powerful trading tools and resources, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.
- After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
Cons
- Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
- Despite a useful library of educational guides and e-books in Labs, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.
- In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
eToro
"eToro's social trading platform leads the pack with a terrific user experience and active community chat that can help beginners find opportunities. There are also competitive fees on thousands of CFDs and real stocks, plus excellent rewards for experienced strategy providers."
Christian Harris, Reviewer
eToro Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs |
Regulator | FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF |
Platforms | eToro Web, CopyTrader, TradingCentral |
Minimum Deposit | $100 |
Minimum Trade | $10 |
Account Currencies | USD, EUR, GBP |
Pros
- The web platform and mobile app perform better in user reviews and app rankings than top competitors, including AvaTrade
- Exciting investment portfolios are available covering traditional market trends as well as tech, crypto and more
- eToro has finally introduced EUR and GBP accounts, cutting conversion fees and providing a trading experience more tailored to local needs
Cons
- The lack of additional charting platforms like MT4 will reduce the appeal for seasoned day traders accustomed to using third-party software
- There is a $30 minimum withdrawal amount and a $5 fee, which will affect novices with low capital
- There are limited contact methods aside from the in-platform live chat
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
Christian Harris, Reviewer
FOREX.com Quick Facts
Bonus Offer | 20% Welcome Bonus Up To $5000 |
---|---|
Demo Account | Yes |
Instruments | Forex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto |
Regulator | NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA |
Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
Minimum Deposit | $100 |
Minimum Trade | 0.01 Lots |
Leverage | 1:400 |
Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
Cons
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
- There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
Methodology
To identify the best day trading platforms in Brazil, we scoured our database of 267 online brokers, removed those that don’t accept traders from Brazil, and ranked them by their overall rating.
Our ratings are derived from 100+ data points and in-depth assessments of each broker in key areas.
- We verified that each platform accepts Brazilian day traders.
- We only recommended brokers that have earned the trust of our experts.
- We favored brokers with excellent charting tools for technical analysis.
- We confirmed brokers provide transparent leverage and margin requirements.
- We prioritized brokers with competitive day trading fees.
- We investigated the speed and quality of order executions.
How To Choose A Day Trading Broker In Brazil
There are several factors to consider to find the right day trading broker for your needs:
Trust
Choose an established broker that you can trust.
This is non-negotiable and will help protect you from trading scams.
The best signs that a day trading platform can be trusted are authorization from a ‘green-tier’ regulator, a long track record, and an excellent industry reputation.
Not many brokers are regulated by Brazil’s Securities and Exchange Commission, the Comissão de Valores Mobiliários (CVM). However, many of our recommended platforms are licensed by respected bodies like the FCA in the UK and the ASIC in Australia.
This means they should provide key safeguards like negative balance protection, ensuring you can’t lose more than your balance when margin trading – a popular approach with short-term traders.
However, if you do opt for an international broker, make sure you continue to adhere to the CVM’s regulations and tax rules in Brazil.
- AvaTrade is one of the most trusted brokers accepting Brazilian day traders. Alongside a 15+ year history, it’s authorized by respected regulators, notably the ASIC and CySEC, plus it provides a unique AvaProtect feature, offering insurance against losses (for a fee).
Trading Markets
Choose a broker with the financial markets you want to place short-term trades on.
For Brazilian day traders, this may mean local markets, such as South American stocks like Petrobras (PETR) or Unibanco (ITUB), or for forex trading in Brazil, currency pairs containing the BRL, such as USD/BRL and EUR/BRL.
That said, our tests show these aren’t widely offered by many brokers. Instead, the top day trading brokers offer a wide investment offering, providing diverse trading opportunities.
- Pepperstone stands out for its superb range of 1300+ instruments spanning all major markets. It’s also particularly strong for Brazilians, providing local assets like the iShares MSCI Brazil Capped ETF and the USD/BRL.
Day Trading Fees
Choose a broker with low day trading fees.
This will help keep transaction costs down when placing frequent trades. We evaluate short-term trading fees on popular assets, notably spreads and commissions, and then weigh these against the overall quality of service.
This is because day traders in Brazil may want to pay more for superior charting tools or analyst insights into decisions from Banco Central do Brasil or its key export commodities; coffee, soybeans, sugar, and iron ore.
- IC Markets offers some of the best pricing in the industry, especially for active traders. Spreads hit as low as 0.0 pips on popular assets with rebates available to high-volume traders through Raw Trader Plus.
Charting Platforms and Apps
Choose a broker with powerful and user-friendly charting tools.
Day traders more than many types of traders require excellent charting tools, as many use technical analysis to uncover short-term opportunities.
MetaTrader 4 and MetaTrader 5 are the most common, though their outdated designs are increasingly being upstaged by sleeker options like TradingView. In any case, a wide variety of technical indicators, graph types and time intervals will ensure a well-rounded experience.
- FOREX.com caters to all experience levels and short-term trading strategies, providing access to dozens of technical analysis tools across its MT4, MT5 and proprietary web trader powered by TradingView (my pick for newer traders). Additionally, there are superb research tools to help identify short-term trading opportunities, notably AutoChartist and Trading Central.
Execution Quality
Choose a broker with fast and reliable order execution.
Execution quality determines how quickly and efficiently brokers will process your trades – a vital consideration for fast-paced setups like day trading.
The best brokers ensure low latency and slippage (the difference between the requested and actual price) and ideally meet our execution speed benchmarks of less than 100 milliseconds.
- IC Markets continues to meet these requirements, with average execution speeds coming in under 40ms, low latency infrastructure and Equinix NY4 servers, plus virtual private server (VPS) hosting, making it ideal for day traders, scalpers and algo traders.
Leverage Trading
Choose a broker with transparent requirements for leverage trading.
Day traders frequently use leverage to maximize their profits while only putting down a small outlay, known as margin. Though it’s worth noting Brazil is one of the few countries, alongside the US, to restrict popular leveraged trading products like contracts for difference (CFDs).
Let’s say I want to trade Petrobras stock with leverage of 1:10. This means a 100 USD outlay would afford me 1000 USD in buying power (10 x 100 USD).
Any profits and losses would also be multiplied by 10, amplifying my trading results beyond what my cash would otherwise have allowed.
- XM offers flexible leverage up to 1:1000 (beginners should not trade with such high leverage). It’s also one of a limited number of brokers to offer a free margin calculator – the easiest one I’ve used, helping you understand the margin you need to open and maintain positions.
Account Minimum
Choose a broker with a minimum deposit that aligns with your budget.
Our evaluations show most brokers accepting day traders from Brazil require up to 250 USD, approximately 1,265 BRL.
Opt for a broker that supports local payment solutions like Boleto and you may benefit from even faster and more convenient deposits and withdrawals.
- AvaTrade ticks these boxes. The 100 USD minimum investment is affordable, plus Brazilians have a wide range of convenient funding solutions, including Boleto, wire transfers and bank cards.
FAQ
Who Regulates Day Trading Platforms In Brazil?
The Comissão de Valores Mobiliários (CVM), the Securities Commission of Brazil, is responsible for overseeing the financial markets in Brazil and has introduced restrictions on CFDs. However, not many day trading platforms are regulated by this financial body, so Brazilians may need to use an international firm.
Make sure you choose a broker regulated by a respected regulator, such as the ASIC, FCA or CySEC – these provide the strongest safeguards for retail investors, including limiting leverage which can help curb losses when making frequent trades. Importantly, make sure you follow your local regulations and tax rules in Brazil.
Which Is The Best Broker That Accepts Day Traders From Brazil?
Use our rankings of the best day trading brokers in Brazil to find the right platform for you.
If you want a highly rated platform that specifically caters to short-term traders in Brazil, Exness offer a BRL-based trading account, while AvaTrade supports the popular payment solution, Boleto.
Recommended Reading
Article Sources
- B3 - Brazil Stock Exchange
- Petrobras (PETR) - B3
- Itaú Unibanco (ITUB) - B3
- Comissão de Valores Mobiliários (CVM)
- Banco Central do Brasil
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