Best Boleto Brokers 2024

Boleto Bancario is a well-regulated, secure and simple payment system that generates 3.7 billion transactions per year in Brazil. It is a particularly popular payment method with Brazilians who do not have bank accounts, including online traders.

Below is a list of the top brokers that accept Boleto deposits. This guide also explains the advantages and disadvantages of day trading using Boleto Bancario brokers and provides a step-by-step guide to making deposits to trading accounts.

Best Boleto Brokers

Following our tests, these are the top 7 brokers with Boleto deposits:

Boleto Brokers Comparison

Boleto Brokers Comparison
Broker Minimum Deposit Instruments Platforms Leverage Visit
AvaTrade logo
$100 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade 1:30 (Retail) 1:400 (Pro) Visit
Deriv.com logo
$5 CFDs, Multipliers, Forex, Stocks, Indices, Commodities Deriv Trader, MT5 1:1000 Visit
Exness logo
$10 CFDs, Forex, Stocks, Indices, Commodities, Crypto Exness Trade App, MT4, MT5, TradingCentral 1:2000 Visit
BlackBull Markets logo
$0 Forex, CFDs, stocks, indices, energies, metals, commodities, cryptos MT4, MT5, cTrader, TradingView, AutoChartist 1:500 Visit
FXCC logo
$0 CFDs, Forex, Indices, Commodities, Crypto MT4 1:500 Visit
Axi logo
$0 Forex, CFDs, indices, shares, commodities, cryptocurrencies MT4, AutoChartist, DupliTrade 1:400 Visit
IQ Option logo
$10 CFD, Forex, Crypto, Stocks, Digital Options Own 1:500 Visit

#1 - AvaTrade

Why We Chose 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, alongside a comprehensive education center and multilingual customer support.

"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."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
  • Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA, BVI, ADGM
  • Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
  • Min. Deposit: $100
  • Min. Trade: 0.01 Lots
  • Leverage: 1:30 (Retail) 1:400 (Pro)

Pros

  • Day traders can access stable spreads and zero commissions with no hidden fees
  • The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
  • The broker offers reliable 24/5 multilingual customer support with fast response times during testing

Cons

  • A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
  • 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

#2 - Deriv.com

Why We Chose 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 and multipliers, 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.

"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. "

- DayTrading Review Team
  • Instruments: CFDs, Multipliers, Forex, Stocks, Indices, Commodities
  • Regulator: MFSA, LFSA, VFSC, BFSC
  • Platforms: Deriv Trader, MT5
  • Min. Deposit: $5
  • Min. Trade: 0.01 Lots
  • Leverage: 1:1000

Pros

  • The free demo account is ideal for practicing short-term trading strategies and no registration is required
  • Traders can use multipliers between 1 and 30, with take profit, stop loss and deal cancellation parameters
  • There's a good range of fast deposit and withdrawal methods with zero payment fees and low minimum deposits

Cons

  • 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+
  • There are limited copy trading tools and analysis features compared to alternatives like IQ Cent

#3 - Exness

Why We Chose Exness

Exness is a Cyprus-based forex and CFD brokerage established in 2008. With over 260,000 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.

"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."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
  • Regulator: FSA, CySEC, FCA, FSCA, FSC, CBCS
  • Platforms: Exness Trade App, MT4, MT5, TradingCentral
  • Min. Deposit: $10
  • Min. Trade: 0.01 Lots
  • Leverage: 1:2000

Pros

  • There's excellent 24/7 multilingual customer support via telephone, email and live chat
  • Exness is the first brokerage to pass the $1 trillion and $2 trillion marks in monthly trading volumes
  • Unlike many other brands, Exness doesn't charge any account maintenance or inactivity fees

Cons

  • Unlike most competitors, Exness doesn't provide its own education section
  • There are several regional restrictions for retail traders including the USA, Europe and the UK
  • There are no promotional deals or loyalty schemes for high-volume day traders

#4 - BlackBull Markets

Why We Chose BlackBull Markets

BlackBull is a New Zealand-based CFD broker with trading opportunities on forex, stocks, indices, commodities and cryptos. The broker supports the MetaTrader 4 and 5 platforms as well as TradingView, cTrader and a proprietary mobile app. Clients can trade with high leverage and tight spreads from 0 pips on the broker's ECN accounts.

"BlackBull Markets will suit traders of all experience levels with thousands of tradable instruments, tight spreads and the familiar MetaTrader platforms."

- DayTrading Review Team
  • Instruments: Forex, CFDs, stocks, indices, energies, metals, commodities, cryptos
  • Regulator: FMA, FSA
  • Platforms: MT4, MT5, cTrader, TradingView, AutoChartist
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:500

Pros

  • Autochartist plugin
  • Excellent educational content for beginners
  • CopyTrader, ZuluTrade, HokoCloud and Myfxbook copy trading

Cons

  • US traders not accepted
  • Withdrawal fees with some methods

#5 - FXCC

Why We Chose FXCC

FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Nevis and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.

"FXCC continues to prove itself an excellent option for forex day traders with an extensive range of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and high leverage up to 1:500 in the ECN XL account. "

- DayTrading Review Team
  • Instruments: CFDs, Forex, Indices, Commodities, Crypto
  • Regulator: CySEC
  • Platforms: MT4
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:500

Pros

  • There are no deposit fees except industry-standard mining charges on cryptos, which is advantageous for active traders
  • There are no restrictions on short-term trading strategies like day trading and scalping
  • Competitive and transparent ECN spreads from 0.0 pips with zero commissions, making FXCC one of the cheapest forex brokers

Cons

  • FXCC’s single platform offering is a major drawback compared to many alternatives, notably AvaTrade which provides 5 platforms to suit different trader preferences
  • While the range of currency pairs exceeds most alternatives, the selection of additional assets is narrow, and notably, there are no stocks
  • Although MetaTrader 4 continues to shine for technical analysis, the subpar design dampens the trading experience, especially compared to modern alternatives like TradingView

#6 - Axi

Why We Chose Axi

Axi is a global forex and CFD trading firm, founded in 2007 in Sydney, Australia. Highly leveraged trading opportunities plus a $0 minimum deposit make it a popular choice among 60,000+ traders worldwide. Axi also stands out for its resources, including copy trading and Autochartist.

"Axi maintains its position as a top forex and CFD broker for seasoned traders, with more than 70 currency pairs, raw spreads and additional benefits for high-volume trading. Beginners will also appreciate the user-friendly copy trading service and free forex eBooks."

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, shares, commodities, cryptocurrencies
  • Regulator: FCA, ASIC, DFSA, FMA
  • Platforms: MT4, AutoChartist, DupliTrade
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:400

Pros

  • The broker’s free trading resources are geared towards short-term traders, including various market calendars and dividend forecast schedules
  • Axi is a well-regulated and established broker, with a strong track record since 2007
  • A strong range of advanced tools are available for experienced day traders, including the Autochartist market scanner, VPS solutions and exclusive MT4 NexGen features

Cons

  • The demo account expires after only 30 days - many alternative brokers that we test allow you to practice for 60 days or more
  • The Axi Select program requires a $500 minimum deposit to enter the first Seed stage
  • There's a limited choice of third-party charting platforms compared to other brands, with only MT4 available alongside the proprietary app

#7 - IQ Option

Why We Chose IQ Option

IQ Option is a trusted broker with multi-asset trading on its user-friendly proprietary platform. The broker provides trading on forex, stocks, cryptos, indices, commodities and ETFs with competitive fees and a good suite of extra features and educational content. You can also open an account with just $10.

"IQ Option is a good broker for beginners with a slick platform and low minimum investment. New users can also open an account in three easy steps."

- DayTrading Review Team
  • Instruments: CFD, Forex, Crypto, Stocks, Digital Options
  • Platforms: Own
  • Min. Deposit: $10
  • Min. Trade: 0.001 Lots
  • Leverage: 1:500

Pros

  • Access to IQ Option community
  • Reliable 24/7 multilingual support
  • High payouts on binary options

Cons

  • €10 inactivity fee after 90 days
  • No MetaTrader 4 integration

What Is Boleto Bancario?

Boleto Bancario is a push payment system established in Brazil in 1993 initially for cash transactions. It is essentially a financial document that works as a voucher allowing customers to buy goods and services, including at Boleto brokers, without directly using their cards or bank accounts.

Boleto Bancario is the second most popular online payment method among Brazilians, almost 70 percent of whom prefer it for cross-border transactions. Offering payments with Boleto today is a must for merchants that want to do business and expand in Brazil, the largest consumer market in Latin America and one of the most important emerging markets in the world.

The company is regulated by the Central Bank of Brazil and is a part of Sistema de Pagamentos Brasileiro (Brazilian Payment System), which sets procedures, rules, and instruments for fraud-proof payment methods.

Merchants need a local processing partner to accept and receive Boleto payments.

How It Works

“El boleto” means “ticket” in English. When someone uses the payment method to make deposits to brokers that accept Boleto deposits, a ticket that resembles a pro-forma invoice with a barcode is created for each transaction. The form issued includes payment details, customer information, the amount of the transaction and the due date by which the payment must be made.

In the past Brazilians had to print their tickets, today using this payment system has become easier thanks to internet banking or mobile banking apps. Payments can either be made online or at a bank or post office or at any other authorized agencies like lottery agents and convenience stores.

A transaction is complete when the payment is made within the due payment period, which is usually between 1 to 15 days. If the expiration date passes, there may be additional fees or the transaction may not process at all. Fortunately, you can track the status of your trading deposit in the client dashboard of the best Boleto brokers.

The processing of the actual payment might take longer, usually one business day. The Brazilian banks generally confirm paid tickets on the next business day from Tuesday to Saturday. This period may shorten if you use new tools like Boleto Flash® developed by Pag Brasil, which allows payments to be confirmed in less than two hours on business days.

Trading With Boleto Bancario

The solution is popular among traders for its simplicity and ease of use. The payment method supports multiple currencies, including Brazilian Real (BRL), and offers traders a safe platform that protects their private information as personal account details are never shared with brokerage platforms and the solution offers end-to-end encryption.

The brand offers three types of accounts, namely personal, business, and merchant. Anyone who has a bank account and is authorized by this bank to issue Boleto Bancario can use this payment method for trading purposes. However, the authorization process may differ across banks and some use strict policies for authorization. Pricing schemes can also vary according to the bank someone uses to issue the vouchers.

To use the payment method for trading deposits and withdrawals, traders should have both a Boleto account and a live profile with one of the brokers that accept Boleto deposits. After verifying their ID, traders can then make transactions with their existing funds or with a debit or credit card linked to their account.

Fees

Most of the time trading deposits are free. FXCC, for example, does not charge for deposits made using the payment method. USD, EUR and GBP payments are accepted.

However, when the base currency of your Boleto account and the base currency of your trading account differs, transactions may incur a conversion fee.

Processing fees might also vary according to the trading brokerage.

Transaction Speed

Deposits transferred to your trading account with Boleto usually appear between one and five days. This is notably slower than many alternatives, including PayPal and debit card.

For withdrawals, transactions might take up to 10 days. Again, this is significantly longer than many alternative payment methods.

Pros Of Boleto Brokers

Cons Of Boleto Brokers

How To Deposit Using Boleto

Depositing and withdrawing with the payment solution can be done only with a few clicks as long as you work with brokers that accept Boleto deposits.

Making payments to and from trading accounts is not much different from making payments for traditional Boletos. To deposit funds to your trading account you first need to sign in to your account and enter the “Deposit” section. Select “Boleto” among available payment methods and then enter the amount you want to deposit.

In the pop-up page, enter the information requested and click “Pay” or similar. You will be then redirected to a page issuing your Boleto. You can now formalize the deposit request, and once the transaction is approved, you can start trading.

Boleto brokers usually set minimum and maximum limits for deposits and withdrawals as well as different fees. Those limits and fees can also vary according to the type of trading profile you hold, the currency you are using, the type of Boleto account you have, and the size of the transaction.

Is Boleto Bancario Good For Day Trading?

Boleto Bancario is one of the most popular payment methods among Brazilians, especially among those who do not have bank accounts, who use vouchers to pay their monthly bills as well as for online shopping and gambling. Boleto Bancario is not limited to personal purchases, however. It is a reliable multinational payment solution with no chargeback risk that is accepted by several Boleto brokers.

On the downside, the list of brokers that accept Boleto deposits is limited vs trading platforms that accept debit cards or PayPal, for example. Transaction speeds are also considerably slower than alternative payment solutions.

Use our ranking of the top brokers that accept Boleto deposits to start trading.

FAQ

Can I Trade With Boleto If My Account Is Below A Certain Balance?

No – you need a positive balance in your trading account and Boleto profile to give buy or sell orders. You can check your account balance in the Client Portal of most top brokers that accept Boleto deposits.

Is Boleto A Secure Payment Method For Making Deposits To My Trading Account?

Boleto uses algorithms to flag suspicious activity. The payment model also protects your financial data with encrypted usernames and passwords. If you think that you need additional protection, verify your Boleto account and your trading profile by using two-factor authentication and a strong password.

How Long Do Deposits To Boleto Brokers Take?

Deposits to trading accounts using Boleto can take several working days, which is slow vs other payment solutions. With that said, Boleto Flash® provides accelerated payment confirmation and also enables payments with PIX. It works the same way as the traditional Boletos but speeds up transactions as payments are generally confirmed in less than an hour once customers make their payments.

What Are The Best Boleto Brokers For Trading Stocks, Cryptocurrencies, And CFDs?

AvaTrade and FXCC have a good reputation among online traders while offering competitive spreads, generous leverage, and a trading platform that is easy to use. FXCC also allows using Boleto for a range of cryptocurrency assets, including Bitcoin, Ethereum and Monero.