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Brokers With BRL Accounts

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Written By
Jemma Grist
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Written By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
» Jemma Grist Profile Page
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Edited By
James Barra
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Edited By
James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
» James Barra Profile Page
Updated
Oct 4, 2024

BRL accounts allow you to manage a trading account denominated in Brazilian real. Often used by Brazilian residents, these accounts allow you to avoid conversion fees and enjoy faster transaction times with local payment methods, such as Boleto.

Explore the best brokers with BRL accounts, personally evaluated by our experts.

Best Brokers With BRL Accounts

Our tests show these are the top 5 trading platforms accepting BRL accounts:

Click a broker for details
  1. 1
    Exness
    Ratings
    Trust Platform Assets Mobile Fees Accounts Research Education Support 4.6
    $10
    0.01 Lots
    1:Unlimited
    CySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC
    CFDs, Forex, Stocks, Indices, Commodities, Crypto
    Exness Trade App, Exness Terminal, MT4, MT5, TradingCentral
    Wire Transfer, Credit Card, Visa, Mastercard, Bitcoin Payments, Boleto, Airtel, Debit Card, Neteller, Skrill, Perfect Money, Sticpay, AstroPay, Cashu, FasaPay, WebMoney, M-Pesa
    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
    Go To Exness
  2. 2
    Quotex
    30% Deposit Bonus
    Ratings
    Trust Platform Assets Mobile Fees Accounts Research Education Support 4.4
    $10
    $1
    Binary Options on Stocks, Indices, Forex, Commodities, Cryptos
    Web Platform
    Credit Card, Visa, Mastercard, Bitcoin Payments, Ethereum Payments, Debit Card
    USD, EUR, GBP, INR, JPY, MYR, IDR, RUB, BRL, NGN, THB, VND, UAH
    Go To Quotex
  3. 3
    Moneta Markets
    50% Cashback Bonus, Free VPS
    Ratings
    Trust Platform Assets Mobile Fees Accounts Research Education Support 4.4
    $50
    0.01 Lots
    1:1000
    ASIC, FSCA, FSA
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Crypto
    AppTrader, ProTrader, MT4, MT5, TradingCentral
    Visa, Bitcoin Payments, Mastercard, Wire Transfer, FasaPay, Sticpay, JCB Card, Credit Card
    USD, EUR, GBP, CAD, NZD, JPY, HKD, SGD, BRL
    Go To Moneta Markets
  4. 4
    4xCube
    Ratings
    Trust Platform Assets Mobile Fees Accounts Research Education Support 3.5
    $10
    0.01 Lots
    1:400
    FSC Cook Islands
    Forex, CFDs, metals, indices, cryptocurrencies
    MT4, MT5
    Skrill, Neteller, Visa, Bitcoin Payments, Wire Transfer, Credit Card, Debit Card, Mastercard, Perfect Money, FasaPay, Swift, Ethereum Payments, GlobePay
    USD, BRL
    Go To 4xCube
  5. 5
    Kucoin
    Welcome bonus up to 500 USDT
    Ratings
    Trust Platform Assets Mobile Fees Accounts Research Education Support 3.6
    $0
    0.0001 Lots
    ETFs, Cryptos, Futures
    Quantower
    Wire Transfer, Credit Card, Debit Card, Skrill, Neteller, Google Wallet, Apple Pay, WeChat Pay, Alipay, PayPal
    USD, EUR, GBP, BRL
    Go To Kucoin

Here is a short overview of each broker's pros and cons

  1. Exness - Established in 2008, Exness has maintained its position as a highly respected broker, standing out with its industry-leading range of 40+ account currencies, growing selection of CFD instruments, and intuitive web platform complete with useful extras like currency convertors and trading calculators.
  2. Quotex - Established in 2019, Quotex is a binary broker that offers 400+ assets, including forex, stocks, indices, commodities, and cryptocurrencies. The platform emphasizes user-friendly features, complete with short-term contracts that span 5 seconds to 4 hours alongside payouts that can reach 95%.
  3. Moneta Markets - Founded in 2019 and headquartered in Johannesburg, South Africa, Moneta Markets offers over 1000 instruments for short-term trading. New traders can choose between STP and ECN accounts while the smooth sign-up process has helped attract 70,000 registered traders.
  4. 4xCube - 4xCube is an online forex and CFD broker registered and licensed in the Cook Islands. Clients can trade on popular financial markets and choose between three accounts based on their capital and trading strategy.
  5. Kucoin - Kucoin is a crypto exchange that offers trading on 1000+ tokens as well as leveraged trading opportunities via futures and perpetual swaps. This exchange has a slick trading platform that supports robots, allowing traders to implement automated strategies. Other attractive features include a demo account, flexible funding methods and DeFi features like staking and mining.

Brokers With BRL Accounts Comparison

Brokers With BRL Accounts Comparison
Broker BRL Account Minimum Deposit Markets Regulator
Exness logo
✔ $10 CFDs, Forex, Stocks, Indices, Commodities, Crypto CySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC
Quotex logo
✔ $10 Binary Options on Stocks, Indices, Forex, Commodities, Cryptos -
Moneta Markets logo
✔ $50 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Crypto ASIC, FSCA, FSA
4xCube logo
✔ $10 Forex, CFDs, metals, indices, cryptocurrencies FSC Cook Islands
Kucoin logo
✔ $0 ETFs, Cryptos, Futures -

Exness

"After slashing its spreads, improving its execution speeds and support trading on over 100 currency pairs with more than 40 account currencies to choose from, Exness is a fantastic option for active forex traders looking to minimize trading costs."

Christian Harris, Reviewer

Exness Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto
RegulatorCySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC
PlatformsExness Trade App, Exness Terminal, MT4, MT5, TradingCentral
Minimum Deposit$10
Minimum Trade0.01 Lots
Leverage1:Unlimited
Account CurrenciesUSD, 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

  • Improved execution speeds, now averaging under 25ms, offer optimal conditions for short-term traders.
  • Highly competitive spreads, reduced for USOIL and BTCUSD in 2024, are available from 0 pips with low commissions from $2 per side.
  • Excellent range of account types for all experience levels, including Cent, Pro plus the introduction of Raw Spread, ideal for day traders.

Cons

  • Exness has expanded its range of CFDs and added a copy trading feature, but there are still no real assets such as ETFs, cryptocurrencies or bonds
  • Retail trading services are unavailable in certain jurisdictions, such as the US and the UK, limiting accessibility compared to top-tier brokers like Interactive Brokers.
  • Apart from a mediocre blog, educational resources are woeful, especially compared to category leaders like IG which provide a more complete trading journey for newer traders.
Visit Exness
Exness Review

Quotex

"Quotex is ideal for binary traders looking to make short-term trades on global markets with above-average payouts of up to 95% and a platform that’s regularly improved, features daily trading signals, and proved intuitive for new users during testing. "

Christian Harris, Reviewer

Quotex Quick Facts

Bonus Offer30% Deposit Bonus
Demo AccountYes
InstrumentsBinary Options on Stocks, Indices, Forex, Commodities, Cryptos
PlatformsWeb Platform
Minimum Deposit$10
Minimum Trade$1
Account CurrenciesUSD, EUR, GBP, INR, JPY, MYR, IDR, RUB, BRL, NGN, THB, VND, UAH

Pros

  • A free demo account with $10,000 in virtual funds lets new traders practice strategies and test the platform without risking real money. It's an excellent tool for beginners to gain experience.
  • Quotex lets you start trading with just $10, making it accessible for beginners and those wanting to test the platform with minimal risk. Withdrawals also start from $10, allowing easy access to funds.
  • The web-based platform and app are intuitive based on our hands-on tests, with a clean design and simple order execution. They include multiple indicators and built-in trading signals, making them practical solutions for both beginners and more experienced traders.

Cons

  • Quotex offers few market analysis tools and lacks real-time financial news, economic calendars, or in-depth research reports. Educational resources, such as courses, webinars, and expert insights, are also absent, making it less ideal for beginners.
  • Customer service is only available via email and social media, which can lead to slow response times in our experience. Competitors like Videforex provide 24/7 live chat and phone support, ensuring you get help quickly during technical or withdrawal problems.
  • Quotex is an offshore broker operating in a jurisdiction known for loose regulatory oversight. Unlike regulated brokers, it does not offer the same level of investor protection, dispute resolution, or fund security, making it riskier.
Visit Quotex
Quotex Review

Moneta Markets

"With ECN pricing featuring spreads from 0 and commissions from $1, high leverage of up to 1:1000, and the terrific ProTrader charting platform, Moneta Markets is an excellent broker for experienced day traders."

Christian Harris, Reviewer

Moneta Markets Quick Facts

Bonus Offer50% Cashback Bonus, Free VPS
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Crypto
RegulatorASIC, FSCA, FSA
PlatformsAppTrader, ProTrader, MT4, MT5, TradingCentral
Minimum Deposit$50
Minimum Trade0.01 Lots
Leverage1:1000
Account CurrenciesUSD, EUR, GBP, CAD, NZD, JPY, HKD, SGD, BRL

Pros

  • Registering for an account with Moneta Markets is quick and easy through the digital sign-up process, taking just a few minutes with an accessible $50 minimum deposit.
  • Moneta Markets makes account funding a breeze, with plenty of account currencies, zero transfer fees and a wide selection of traditional, digital and now crypto-backed payment methods.
  • The intuitive ProTrader web platform, powered by TradingView, performed brilliantly during testing, enabling trading directly from charts, plus the easy modification of orders using drag-and-drop functionality.

Cons

  • The best pricing is reserved for traders who deposit $20,000 for the ECN Ultra account, putting it out of reach for most retail investors.
  • Whilst TradingView-backed ProTrader is intuitive, there are limitations compared to the full TradingView platform, notably time frames lack seconds or ranges, and community scripts can’t be added.
  • Clients need an account balance of at least $500 to access educational materials, a serious drawback for beginners who can get free materials from brokers like IG and eToro.
Visit Moneta Markets
Moneta Markets Review

4xCube

"4xCube is a great option for traders familiar with the MetaTrader suite and those interested in copy trading."

William Berg, Reviewer

4xCube Quick Facts

Demo AccountYes
InstrumentsForex, CFDs, metals, indices, cryptocurrencies
RegulatorFSC Cook Islands
PlatformsMT4, MT5
Minimum Deposit$10
Minimum Trade0.01 Lots
Leverage1:400
Account CurrenciesUSD, BRL

Pros

  • Good trading courses and guides for beginners
  • Hokocloud copy trading tool
  • Welcome bonuses and trading promotions

Cons

  • The broker is not regulated by a trusted authority
  • US clients are not accepted
  • High fees for some payment methods
Visit 4xCube
4xCube Review

Kucoin

"Users who want to make automated crypto trades on a wide range of digital currencies should Kucoin. The brand is also good for crypto staking and mining."

Tobias Robinson, Reviewer

Kucoin Quick Facts

Bonus OfferWelcome bonus up to 500 USDT
Demo AccountYes
InstrumentsETFs, Cryptos, Futures
PlatformsQuantower
Minimum Deposit$0
Minimum Trade0.0001 Lots
Account CurrenciesUSD, EUR, GBP, BRL

Pros

  • Well-known and reputable in the crypto world
  • Good range of DeFi products as well as Web3 features including an NFT marketplace
  • Possibility to earn interest on crypto by staking

Cons

  • Limited educational resources
  • The proprietary platform can feel complex compared to better-known terminals
  • Fiat withdrawals are not possible
Visit Kucoin
Kucoin Review

How Did We Choose The Best Brokers?

To identify the top brokers with BRL accounts we:

  • Scanned our database of 219 brokers and trading platforms
  • Pinpointed those that offer an account based in Brazilian real
  • Ranked them by their overall rating, using 100+ data points and our own observations

What Is A BRL Account?

A BRL account is one in which the trading balance and transactions (including deposits and withdrawals) are denominated in the Brazilian real.

This offers more convenience for Brazilian traders who want to view their account details, such as profit and loss, in their local currency. The securities you choose to day trade will also normally be denominated in BRL.

Below is an example where I opened a BRL account with Moneta Markets:

Opening a BRL account at Moneta Markets
Moneta Markets – BRL Account Registration

Do I Need A BRL Trading Account?

A BRL account might be a good option for you if:

  • You live in Brazil and earn in BRL because it’s economical to hold an account in the same currency.
  • You trade regional markets such as South American stocks or exotic currency pairs that include the BRL, notably the USD/BRL.
  • You are an overseas trader looking to diversify your portfolio by trading securities in an emerging economy and currency, driven by its agriculture, mining and manufacturing sectors.

How Can I Check If A Broker Offers An Account In Brazilian Real?

We recommend you follow these 3 simple steps to ensure a trading platform offers a BRL account:

  1. Head to the account details page on the broker’s website to find the list of accepted base currencies.
  2. Verify that ‘BRL’ is listed as a supported base currency in Brazil.
  3. Register for a live or demo account and select ‘BRL’ as your base currency.

Pros & Cons Of BRL Trading Accounts

Pros

  • BRL accounts typically reduce or eliminate currency conversion fees on deposited funds which is a key draw for active traders making frequent transactions in BRL. As an example, at IG, you can expect to pay a 0.8% FX fee if you need to deposit BRL to a trading account based in USD because BRL accounts are not supported.
  • We’ve found brokers with BRL accounts are more likely to provide tailored services for Brazilian traders, such as website and customer support in Portuguese, available at Moneta Markets for instance.
  • For Brazilian traders, handling a trading account in BRL simply makes it more convenient to view profit/loss statements and place trades in a familiar currency.

Cons

  • Despite ranking as the world’s 9th largest economy in 2023, Brazil often experiences economic and political challenges, which in turn causes volatility in the BRL, and thus increases the risks of holding your balance in BRL.
  • BRL accounts remain uncommon, accounting for less than 2% of the brokers we’ve evaluated, so short-term traders have limited options when choosing a day trading broker.
  • Our tests have shown that regional markets such as Brazilian stocks are not widely offered at brokers, which is a drawback for Brazilian traders looking to avoid associated fees when trading securities based in another currency.

FAQ

Which Is The Best Broker With A BRL Account?

We’ve rigorously tested the best brokers with BRL accounts. You can refer to our list to find the best trading platform for you.

How Much Does It Cost To Open A Trading Account Based In Brazilian Reals?

You will likely need up to 250 USD (around 1,275 BRL) to open a trading account at most brokers, based on our tests.

However, some brokers allow you to start with much less, including Moneta Markets which only requires 50 USD (around 255 BRL). It also offers some of the best charting and research tools I’ve seen, tailored to both novices and seasoned investors.

Article Sources

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