Brokers With BRL Accounts
Written By
Jemma Grist
Written By
Jemma Grist
Edited By
James Barra
Edited By
James Barra
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
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1
Exness
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$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 -
2
Quotex30% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$10$1Digital Options on Stocks, Indices, Forex, Commodities, CryptosWeb Platform, Mobile AppCredit Card, Visa, Mastercard, Perfect Money, Bitcoin Payments, Wire Transfer, Ethereum Payments, Maestro, Debit Card, AirtelUSD, EUR, GBP, INR, JPY, MYR, IDR, RUB, BRL, NGN, THB, VND, UAH -
3
Moneta Markets50% Cashback Bonus, Free VPS
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$500.01 Lots1:1000ASIC, FSCA, FSACFDs, Forex, Stocks, Indices, Commodities, ETFs, CryptoAppTrader, ProTrader, MT4, MT5, TradingCentralVisa, Bitcoin Payments, Mastercard, Wire Transfer, FasaPay, Sticpay, JCB Card, Credit CardUSD, EUR, GBP, CAD, NZD, JPY, HKD, SGD, BRL -
4
4xCube
$100.01 Lots1:400FSC Cook IslandsForex, CFDs, metals, indices, cryptocurrenciesMT4, MT5Skrill, Neteller, Visa, Bitcoin Payments, Wire Transfer, Credit Card, Debit Card, Mastercard, Perfect Money, FasaPay, Swift, Ethereum Payments, GlobePayUSD, BRL -
5
KucoinWelcome bonus up to 500 USDT
$00.0001 LotsETFs, Cryptos, FuturesOwnWire Transfer, Credit Card, Debit Card, Skrill, Neteller, Google Wallet, Apple Pay, WeChat Pay, Alipay, PayPalUSD, EUR, GBP, BRL
Here is a summary of why we recommend these brokers:
- 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.
- Quotex - Quotex has been a top binary options broker since 2019, offering over 400 binaries across currencies, commodities, stocks, and crypto. With contracts spanning 5 seconds to 4 hours, short-term traders enjoy flexibility while payouts that exceed 95%, offer high potential returns. Continuously adapting to trader demands, Quotex provides a user-friendly platform for trading binaries.
- 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.
- 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.
- 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
| Broker | BRL Account | Minimum Deposit | Markets | Regulator |
|---|---|---|---|---|
|
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✔ | $10 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | FSA, CySEC, FCA, FSCA, FSC, CBCS, CNMV, KNF, AFM |
|
|
✔ | $10 | Digital Options on Stocks, Indices, Forex, Commodities, Cryptos | - |
|
|
✔ | $50 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Crypto | ASIC, FSCA, FSA |
|
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✔ | $10 | Forex, CFDs, metals, indices, cryptocurrencies | FSC Cook Islands |
|
|
✔ | $0 | ETFs, Cryptos, Futures | - |
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
- The broker is accessible for beginners with low minimum deposits from $10 and flexible payment methods
- Highly competitive spreads, reduced for USOIL and BTCUSD in 2024, are available from 0 pips and low commissions from $2 per side
- Experienced strategy providers can open social trading accounts, with monthly commissions up to 50%
Cons
- 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
- Unlike most competitors, Exness doesn't provide its own education section
Quotex
"Quotex is best for making short-term trades on popular markets. The payouts up to 98% are above average and enhancements to the platform have ensured it's easy to use for beginners. That said, the lack of regulatory oversight, limited education and weak support are key drawbacks."
Quotex Quick Facts
| Bonus Offer | 30% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Digital Options on Stocks, Indices, Forex, Commodities, Cryptos |
| Platforms | Web Platform, Mobile App |
| Minimum Deposit | $10 |
| Minimum Trade | $1 |
| Account Currencies | USD, EUR, GBP, INR, JPY, MYR, IDR, RUB, BRL, NGN, THB, VND, UAH |
Pros
- Quotex maintains its position as an excellent choice for short-term binary trading with turbo contracts from 5 seconds
- The platform continues to delivers a superb trading environment with strong charting tools for technical traders
- Account funding is straightforward thanks to the wide range of payment methods, zero fees and intuitive cashier portal
Cons
- Quotex is unregulated, which means traders may receive limited safeguards
- Customer support has been weak during tests with no live chat and slow response times
- There is no copy trading, which could support new traders looking to learn from experienced investors
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 Offer | 50% Cashback Bonus, Free VPS |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Crypto |
| Regulator | ASIC, FSCA, FSA |
| Platforms | AppTrader, ProTrader, MT4, MT5, TradingCentral |
| Minimum Deposit | $50 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP, CAD, NZD, JPY, HKD, SGD, BRL |
Pros
- The broker offers competitive leverage rates of up to 1:1000, allowing experienced day traders to amplify their positions and potentially increase their returns.
- 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.
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.
- 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.
- Although regulated by the ASIC, trading through the Seychelles-based entity may result in limited regulatory protections while Moneta Markets’ short track also means it hasn’t earned the reputation of the safest brokers.
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 Account | Yes |
|---|---|
| Instruments | Forex, CFDs, metals, indices, cryptocurrencies |
| Regulator | FSC Cook Islands |
| Platforms | MT4, MT5 |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:400 |
| Account Currencies | USD, BRL |
Pros
- Large trading community on Discord
- Hokocloud copy trading tool
- Commission-free trading with spreads from 0.1 pips
Cons
- US clients are not accepted
- The broker is not regulated by a trusted authority
- High fees for some payment methods
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."
Kucoin Quick Facts
| Bonus Offer | Welcome bonus up to 500 USDT |
|---|---|
| Demo Account | Yes |
| Instruments | ETFs, Cryptos, Futures |
| Platforms | Own |
| Minimum Deposit | $0 |
| Minimum Trade | 0.0001 Lots |
| Account Currencies | USD, EUR, GBP, BRL |
Pros
- Wide list of tokens with 1000+ cryptos including many low-market-cap tokens
- Leverage available via crypto derivatives
- Good customer service
Cons
- Limited educational resources
- Like many crypto firms, Kucoin is unregulated
- Crypto exchanges are often riskier than trading through a crypto broker
How Did We Choose The Best Brokers?
To identify the top brokers with BRL accounts we:
- Scanned our database of 267 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:
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:
- Head to the account details page on the broker’s website to find the list of accepted base currencies.
- Verify that ‘BRL’ is listed as a supported base currency in Brazil.
- 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
- Brazilian Real (BRL) Currency Information - OANDA
- Brazil Becomes Ninth Largest Economy - Agência Brasil
The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com