PIX is an innovative payment method specifically designed for the Brazilian market. The intuitive solution is an emerging deposit option among forex and stock trading brokers, as well as a range of online merchants. It simplifies the need for more timely Brazilian Reals (BRL) bank transfers via TED (Electronic Funds Transfer) or DOC (Credit Transfer Documents).
This review will compare the PIX payment solution vs traditional BRL bank transfers and list the best online brokers that accept PIX deposits.
Best PIX Payment Brokers
Below is a list of the top brokers that we recommend for PIX payments, based on our tests:
-
- Demo account
- Min. deposit: $0
- Min. trade: 0.01 Lots
73-89% of retail investor accounts lose money when trading CFDs -
- Demo account
- Regulator: FCA, ASIC, CySEC, FSC, SCB, FSA
- Platforms: MT4, MT5, TradingView, TradeLocker
71.28% of retail traders lose money when trading CFDs -
- Demo account
- Instruments: CFDs, Forex, Indices, Shares, Commodities
- Regulator: ASIC, CySEC, FSCA, FSC
-
- Demo account
- Regulator: FCA, ASIC, FMA, DFSA, FSC
- Platforms: Axi Copy Trading, MT4, AutoChartist
-
- Demo account
- Regulator: CySEC, FSCA, FSA, ADGM/FRSA
- Min. deposit: $10-$250 (location and tier dependent)
-
- Demo account
- Regulator: VFSC
- Platforms: MT4, MT5
Learn how we test brokers and why you can trust our ratings.
Here is a short summary of why we think each broker belongs in this top list:
- Pepperstone 4.8/5 Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 830,000 clients worldwide. It offers access to 1,400+ 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, helping to ensure a secure environment for day traders at all levels.
- Eightcap 4.6/5 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.
- FBS 4.3/5 Founded in 2009, FBS is an award-winning CFD broker operating in over 150 countries with a client base exceeding 27 million traders. Traders are supported at every stage of their journey with 24/7 assistance, market analytics, trading calculators, and competitive pricing with zero commissions.
- Axi 3.7/5 Established in 2007, Axi is a multi-regulated forex and CFD broker that has made strides to improve its trading experience over the years, from expanding its suite of stocks and upgrading the Axi Academy to launching its own copy trading app.
- NAGA 4.1/5 NAGA is a German-headquartered social investing platform offering copy trading on thousands of financial markets including CFDs and real stocks. Founded in 2015, the company is publicly listed on the Frankfurt Stock Exchange and regulated in the EU, Middle East and globally. The firm offers an all-in-one web platform and mobile app, but traders can also synchronize their NAGA accounts with popular third-party software, including MT4 and MT5.
- Switch Markets 4.2/5 Switch Markets is a multi-asset CFD brokerage. The brand offers trading on the MT4 and MT5 platforms, thousands of instruments, with additional tools including copy trading services and premium VPS hosting.
Compare The Best PIX Payment Brokers
| Broker | Minimum Deposit | Instruments | Platforms | Leverage |
|---|---|---|---|---|
| Pepperstone | $0 | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto CFDs, Spread Betting | Pepperstone Trading Platform, MT4, MT5, cTrader, TradingView | 1:30 (Retail - UK, EU, Australia), 1:500 (Pro), 1:200 (Offshore), 1:400 (Kenya) |
| Eightcap | $100 | CFDs in Forex, Stocks, Indices, Commodities, Crypto | MT4, MT5, TradingView, TradeLocker | 1:500 |
| FBS | $5 | CFDs, Forex, Indices, Shares, Commodities | FBS App, MT4, MT5 | 1:3000 |
| Axi | $0 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | Axi Copy Trading, MT4, AutoChartist | 1:500 |
| NAGA | $10-$250 (location and tier dependent) | CFDs on Forex, Indices, Shares, Commodities, Crypto, Real Stocks and Futures | NAGA Platform, NAGA App, MT4, MT5, TradingView, TradingCentral | 1:30 (EU and Middle East, 1:1000 (Global) |
| Switch Markets | $50 | Forex, Commodities, Indices, ETFs, Shares, Crypto | MT4, MT5 | 1:30 (EU), 1:1000 (Global) |
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| Pepperstone | 3678 | ||||
| Eightcap | 3909 | ||||
| FBS | 10177 | ||||
| Axi | 7999 | ||||
| NAGA | - | 4112 | |||
| Switch Markets | - | 955 |
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 24/5 support (18h a day on weekends).
Christian Harris, Reviewer
Pepperstone quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto CFDs, Spread Betting
- Regulator
- FCA, ASIC, CySEC, BaFin, DFSA, SCA, SCB, CMA-Kenya
- Platforms
- Pepperstone Trading Platform, MT4, MT5, cTrader, TradingView
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates up to 30% (index and commodities) and $3/lot (forex) through the Active Trader program.
- After adding spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools for financial spread bettors in supported countries.
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing and friendly agents knowledgeable about its products and trading tools.
Cons
- Overnight holding fees are higher than that found with some Market Maker brokers (usually Benchmark + 2.5%). This makes pepperstone an ideal broker for day traders and forex scalpers but less suitable for swing traders who often keep position open overnight.
- Despite improvements to its range of markets, crypto CFD offerings are still fairly limited compared to other brokers who focus on this area, such as Eightcap, and there's no option to invest in real coins.
- Execution may not feel as reliable in fast markets as headline speeds suggest. In our own testing, execution was fast at desired prices, but some community complaints focus on slippage, stop-loss fills and spread-sensitive order triggers during volatile conditions.
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 in Forex, Stocks, Indices, Commodities, Crypto
- Regulator
- FCA, ASIC, CySEC, FSC, SCB, FSA
- Platforms
- MT4, MT5, TradingView, TradeLocker
- Minimum Deposit
- $100
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, SGD
Pros
- Eightcap stands out with a selection of powerful trading tools and resources, including MT4 and MT5, and more recently the 100-million strong social trading network TradingView.
- With tight spreads from 0 pips, low commission fees, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.
- 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
- 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.
- Eightcap needs to continue bolstering its suite of 800+ instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
- 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.
FBS
FBS is an excellent choice for day traders at every level and budget, with just a $5 minimum deposit and intensive academy for aspiring traders alongside access to MT4 and MT5.
Christian Harris, Reviewer
FBS quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Indices, Shares, Commodities
- Regulator
- ASIC, CySEC, FSCA, FSC
- Platforms
- FBS App, MT4, MT5
- Minimum Deposit
- $5
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, AUD, JPY
Pros
- The trading firm has picked up over 90 awards and amassed more than 27 million clients, making it one of the largest and most established brokers globally.
- 24/7 customer support that performed excellently during testing is available, alongside a $5 minimum deposit, and a huge variety of 200+ funding options, making it ideal for traders with small accounts.
- The introduction of the FBI Assistant has given active traders useful, AI-powered intelligence to assess charts and patterns with potential trade ideas that can be executed in one click.
Cons
- There are only four base currencies available - EUR, USD, AUD and JPY (region dependant) - which isn't practical for minimizing currency conversion fees for many global traders, and is especially striking given the broker’s user base spans over 150 nations.
- Despite enhancing the selection of currency pairs, now providing over 70, FBS still trails industry leaders like BlackBull Markets in its market offering with a particularly narrow selection of commodities and indices.
- Although the FBS app offers a terrific mobile trading experience for aspiring traders and MT4/MT5 cater to advanced traders, the absence of cTrader and TradingView, which are increasingly offered by alternatives like Pepperstone, will deter day traders familiar with these platforms.
Axi
Axi is a stand-out option if you want to day trade forex on the MetaTrader 4 platform thanks to the broker’s growing selection of 70+ currency pairs, the MT4 NextGen upgrade, and tight spreads from just 0.2 pips if you opt for the Pro account.
Christian Harris, Reviewer
Axi quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, Crypto
- Regulator
- FCA, ASIC, FMA, DFSA, FSC
- Platforms
- Axi Copy Trading, MT4, AutoChartist
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CHF, PLN
Pros
- Axi offers a terrific MT4 experience, enhanced with the NextGen plug-in for advanced order management and analytics, and complete with low execution latency of approximately 30ms.
- The growing educational resources in the Axi Academy, including free eBooks, video tutorials and notably interactive quizzes, are excellent for supporting beginner traders.
- Axi's latest copy trading app is really intuitive based on our tests with useful filtering options to match strategies with individual risk preferences.
Cons
- Despite bolstering its stock CFDs in US, UK and EU markets, it’s still nowhere near as extensive as firms like BlackBull which offer thousands of equities for diverse opportunities.
- Axi still has our confidence but issues with the ASIC and FMA in recent years mean it needs to continue providing a secure environment while adhering to licensing conditions.
- Axi is falling behind by only offering MT4 when many rivals now support MT5, cTrader, TradingView and proprietary software for a slicker experience with more advanced tools.
NAGA
NAGA is a snug fit for beginners who like to learn by watching others, delivering a more advanced social trading network than the majority of CFD brokers, featuring a leaderboard with top traders by profit and win rate, and a one-tap autocopy function in the platform and app that’s a standout.
Christian Harris, Reviewer
NAGA quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs on Forex, Indices, Shares, Commodities, Crypto, Real Stocks and Futures
- Regulator
- CySEC, FSCA, FSA, ADGM/FRSA
- Platforms
- NAGA Platform, NAGA App, MT4, MT5, TradingView, TradingCentral
- Minimum Deposit
- $10-$250 (location and tier dependent)
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, PLN
Pros
- During testing, we were approved to begin trading very quickly; after we provided our ID and proof of address, approval was granted the next business day, and the onboarding process included a suitability questionnaire — a responsible step that some brokers fail to include.
- The copy-trading feature is the main reason to open a NAGA account, and it’s more advanced than what most CFD brokers offer. You can check a leaderboard of top traders by profit and win rate, then automatically copy their trades in the same app - only eToro offers something similar.
- NAGA stands out among social brokers for its wide range of assets, offering over 4,000 tradable options. These include forex pairs, stock, ETF, and index CFDs, commodity CFDs, crypto, and even exchange-traded futures, which are rare for retail clients.
Cons
- There are neither Raw nor ECN accounts available; the only means of securing competitive spreads is to advance through the VIP ladder by making a deposit of five figures, so traders who are sensitive to costs or who trade frequently must commit a large sum.
- The 1:30 leverage limit only applies to clients in the EU (under CySEC) and the GCC (through Abu Dhabi’s ADGM). Clients from LATAM, Asia, and Africa use the Seychelles or FSCA entities, where leverage can go up to 1:1000 and there’s no compensation scheme. This mix of high leverage and little protection is a risk, along with concerns about its suspended Trustpilot score in 2026.
- The $50 monthly inactivity fee is on the high end of the scale. It kicks in after two months of no activity, not every quarter like some brokers. If your balance falls below $50 while your account is inactive, NAGA takes whatever is left and closes your account.
Switch Markets
Switch Markets is a good option for active traders familiar with MetaTrader and looking for resources to inform trading decisions and strategies with coaching, market analysis, and a huge suite of 20+ trading calculators and tools. Its algo trading infrastructure is also excellent, including a free premium VPS.
William Berg, Reviewer
Switch Markets quick facts
- Demo Account
- ✔Yes
- Instruments
- Forex, Commodities, Indices, ETFs, Shares, Crypto
- Regulator
- VFSC
- Platforms
- MT4, MT5
- Minimum Deposit
- $50
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, CHF
Pros
- There's complimentary access to the MarketMovers education resources, market analysis, and one-on-one coaching that isn't provided by most brokers.
- Traders can access copy trading solutions via the MetaTrader Trading Signals tools and duplicate positions of experienced traders in real-time.
- Switch Markets has improved its offering with more instruments, a simpler account structure, and robust infrastructure for algo traders, including a premium VPS that's free for qualifying traders.
Cons
- Switch Markets' regulatory credentials have worsened since its ASIC coverage, via its operations as a Corporate Appointed Representative (CAR) under OneRoyal, lapsed in 2024.
- The global entity is registered offshore with the VFSC via Royal CM LTD, a red-tier watchdog with limited financial safeguards for clients.
- Despite improvements, spreads are still not the most competitive for Standard account holders based on our analysis, averaging around 1.5 pips on EUR/USD.
How Did We Choose The Best Pix Brokers?
To list the top PIX brokers, we:
- Searched our database of 143 online platforms, identifying all those that accept PIX payments
- Checked that they support PIX deposits and withdrawals for day trading
- Ranked them by their overall score, combining 200+ data entries with our personal insights
What Is PIX Payment?
PIX Payment is an instant payment gateway launched in November 2020. The solution was developed by the Central Bank of Brazil (BCB), enhancing the digitisation of money transfers in the country. Today, the method is integrated with many Brazilian financial institutions, including established fintech companies and trading brokers.
The PIX payment method is expected to outpace current local credit transfers in Brazil, such as TED and DOC. It is estimated that by 2030, PIX is likely to account for almost 25% of all electronic payments in the country.
PIX Payment Fees
The PIX system charges no fees to individuals, though brokers with PIX Payment deposits and withdrawals may have their own processing rates. It is also worth checking for separate withdrawal fees before you open a live trading account. This is similar to BRL bank wire transfers.
BRL is not a commonly accepted account funding currency and exchange rate fees may therefore be applicable, impacting profits.
Speed
Transactions are confirmed instantly and processed to recipients within 2.5 seconds. The PIX payment method allows fund transfers 24/7, 365 days a year, even on weekends and public holidays.
With that said, this is subject to the broker’s own timelines, which can cause a delay in funds reaching trading accounts and not supporting the instant transaction advantage secured by the PIX Payment system.
Traditional Brazilian Reals bank transfers are processed on business working days only. These are typically accepted between 00:00 and 16:30 GMT -3 and can take up to three working days to receipt.
Security
Transactions via PIX Payment are relatively safe and secure. Similar to BRL bank wire transfers, operations are carried out directly by the Central Bank of Brazil. PIX Payment follows all central bank regulations, meaning that your deposits and withdrawals to a trading account are protected with relevant levels of security. This includes fraud screening and anti-money laundering protocols.
Personal information sharing for PIX and BRL wire transfers is protected and encrypted by bank secrecy and by the General Data Protection Law.
A dynamic QR code is used to validate a PIX Payment and additional authentication keys can be utilised. This adds an extra layer of protection to your transactions and include linking biometrics or digital devices to passwords. QR codes are interoperable. Transaction receipts are generated for both the user and the recipient.
How To Deposit Using PIX Payment
The process varies a little depending on the broker. At Eightcap, for example, head to the deposit section in your client portal and select PIX.
Scan the QR code or copy the PIX Payment code into your banking or mobile app. Confirm the receiver’s information is correct, enter the deposit amount and submit.
There are no minimum or maximum transaction limits set by the payment system, though this may vary between online brokers. PIX users also have the option to establish personal maximum parameters to reduce risk.
Bank wire transfers are generally accepted by all major global brokerages. BRL is not as commonly accepted as trading account base currencies such as USD, EUR and GBP, so a currency exchange may be required.
Pros Of Using PIX Payment For Traders
- Availability – Payment confirmation and value compensation in real-time, with an average of 2.5 seconds. The solution offers 24/7 transactions, including on weekends and public holidays
- Secure – The PIX Payment method is fully digitised, works with interoperable QR codes and allows multi-factor authentication keys to be added for additional transfer protection
- Intuitive – PIX creates a simple customer journey. Users don’t need a bank account to pay with this solution. Utilise payments between participating institutions like a digital wallet, including Google Pay, to a registered broker
- No charges – The PIX payment solution charges no fees to individuals vs traditional bank transfer methods like DOC and TEF, which may incur a fee. Always check your broker’s terms and conditions before opening a live account
Cons Of Using PIX Payment For Traders
- No cancellations – Transactions cannot be cancelled once processed. As this happens almost instantly, it is difficult to gain compensation
- Limited countries – The payment method is currently only available to residents of Brazil. This rules out global traders being able to use the method. However, international brokerages can still accept PIX payments
Is PIX Payment Good For Day Trading?
PIX is a fast and secure payment initiative that provides cheap digital transactions to Brazilian traders. While it is currently subject to geographical limitations, global brokers may continue to adopt its services over traditional BRL bank transfers. Use our list of brokers that accept PIX deposits to get started.
FAQ
How Do I Make A PIX Payment To My Trading Account?
Find the PIX Payment logo within your online trading account portal. Scan the QR code displayed on your broker’s webpage or copy the PIX payment code into your banking or mobile app. Confirm the receiver’s information is correct, enter the deposit amount and submit.
Are PIX Payment Transfers Always Instant For Trading Account Funding?
PIX Payment supports instant transactions, available 24/7, 365 days a year. Your broker may have its own processing timelines, which could cause delays in deposits and withdrawals, so check your broker’s terms and conditions.
Is PIX Payment An International Service For Traders?
No, currently PIX is only a payment solution within the Brazilian market. Check to see if your broker accepts PIX Payment transfers before opening a live account.
What Are The Associated Fees To Make A PIX Deposit To A Trading Account?
The PIX Payment system does not charge fees to individuals, though brokers accepting PIX deposits and withdrawals may have their own processing rates. It is also worth checking for separate withdrawal fees.