Find the Best Forex Broker in South America

<p><span>Trading on the foreign exchange (Forex) market is a great way to become finally independent, and it’s become very popular in South America. But with so many brokers offering different services, fees, and trading platforms, it can be hard to decide which one is best for you.</p>
<p><span>To help you out, this guide will explain the key criteria to consider when selecting a Forex broker in South America.</p>
<h2><span>Forex Regulations in South America</h2>
<p><span>Each country in South America has its own set of laws and regulations that govern trading on the Forex market.</p>
<p><span>In Argentina, the National Securities Commission (Comision Nacional de Valores or CNV) regulates Forex brokers. In Brazil, it’s the Brazilian Securities and Exchange Commission (Comissao de Valores Mobiliarios or CVM). And in Chile, it’s the Financial Market Commission (Superintendente de Valores y Seguros or SVS).</p>
<p><span>Currency trading in Colombia is regulated by the Colombian Central bank and the Superintendencia Financiera de Colombia (SFC), while in Peru it’s the Superintendencia del Mercado de Valores (SMV).</p>
<p><span>In most cases, forex traders in South America use offshore brokers that are not registered with any South American regulator. An offshore broker is a Forex broker that is based outside of the country in which it offers its services. These brokers are not regulated by any regulatory authority in the country and in some cases, offer their services without having to adhere to national rules or guidelines.</p>
<p><span>The upside is that offshore brokers in South America often provide more competitive trading conditions than those regulated in the region.</p>
<p><span>How to Find the Best Forex Broker in South America</p>
<p><span>When searching for a Forex broker in South America, there are various factors that you should consider. Here are the most important ones:</p>
<h3><span>1 Regulatory Compliance</h3>
<p><span>Regulatory compliance is an essential factor when selecting a Forex broker. Look for a broker that has been approved by the relevant authorities in your country and that adheres to all applicable regulations. This will ensure maximum transparency, security, and fairness of trade execution. Additionally, make sure they are registered with the proper authorities, such as the CNV in Argentina, CVM in Brazil, SVS in Chile, Colombian Central Bank, and SMV in Peru.</p>
<p><span>In South America, regulatory agencies provide protection for investors’ funds by requiring brokers to meet certain capital requirements and segregate customer funds from their own. Additionally, the regulators monitor brokerage operations through regular audits and ensure that all market participants abide by the rules of fair trading. It should be noted though that obtaining regulated status in some South American is a long and bureaucratic process, sometimes not even possible to foreign companies unless partnered with local businesses.</p>
<h3><span>2 Consider the Trading Fees</h3>
<p><span>When evaluating a Forex broker, it’s important to consider what type of fees they charge for trading. The fees should be clearly outlined on their website or in any contracts you have with them.</p>
<p><span>Look for brokers that offer competitive spreads and commissions to ensure you get the best value for your trades. Additionally, look into non-trading fees such as deposit and withdrawal fees as these can add up quickly if not taken into account.</p>
<p><span>Swap fees may also apply if you’re trading overnight and it’s important to find out whether your broker charges these fees.</p>
<h3><span>3 Review the Account Types</h3>
<p><span>Different brokers offer different types of accounts, so make sure to choose one that suits your needs. Most Forex brokers offer multiple account types with different fee structures and trading conditions.</p>
<p><span>ECN (Electronic Communication Network) and Raw Spread Accounts are two of the most popular types of Forex trading accounts in South America, which provide access to deeper liquidity pools and tighter spreads. However, they typically charge commissions whereas other account types have all fees built into the bid ask spread.</p>
<h3><span>4 Trade With a Demo Account</h3>
<p><span>One way to evaluate a Forex broker before committing real money is to open a demo account. This allows you to experience the platform, test out trading strategies as well as learn about order execution and other features without risking any of your own capital.</p>
<p>You can open a <span>demo account with Key To Market<span>s.</p>
<p><span>Factors to look out for while using a demo account</p>
<p><span>While a demo account can be helpful in getting familiar with the trading platform, it’s important to remember that the results you get on a demo account may not reflect the same results when trading real money. To get the best out of your demo account, look out for these factors:</p>
<p><span>• Spreads – check if they are realistic compared to what is offered in live accounts</p>
<p><span>• Order Execution – check if orders are filled at the expected price</p>
<p><span>• Platform Features – make sure all features available on the live account are also available on the demo version</p>
<h3><span>5 Customer Service</h3>
<p><span>Customer service is an important factor to consider when selecting a Forex broker. It’s important to choose a broker that provides excellent customer service and is readily available to answer any questions or queries you may have.</p>
<p><span>Look at the different support options offered such as telephone, email, live chat, etc. and make sure there’s someone available in your language if needed. The response time for queries should also be taken into account when evaluating customer service.</p>
<p><span>Many brokers offer customer support in multiple languages including popular South American languages like Spanish and Portuguese.</p>
<h3><span>6 Automated &amp; Social Trading Features</h3>
<p><span>If you’re looking for automated trading solutions or social trading features, then it’s important to look at what the Forex broker has to offer. This can include copy trading tools, algorithmic trading systems, and other advanced charting and analysis tools.</p>
<p><span>Algorithmic trading systems can automate the process of buying and selling currencies on your behalf, while copy trading tools allow you to mimic the trading strategies of experienced traders. Many brokers offer both of these features and more.</p>
<h3><span>7 Tradable Assets</h3>
<p><span>Finally, consider the range of assets available to trade on the broker’s platform. You should also look into whether they offer any special instruments such as CFDs or cryptocurrencies if these are of interest to you.</p>
<h3><span>8 Liquidity</h3>
<p><span>Different brokers have different levels of liquidity. Brokers usually get liquidity (meaning the number of available buyers and sellers offering bid and ask prices) through liquidity providers. The main alternative to this is to offer an ECN which acts a network of buyers and sellers who can transact with eachother rather than via a middle man (market maker). Make sure to ask your broker if they have enough liquidity in the markets you wish to trade so that you don’t get stuck with wide spreads when you’re executing your trades.</p>
<h3><span>What is the Best Forex Broker in South America?</h3>
<p><span>Choosing the best Forex broker for your needs will depend on a number of factors, such as the trading conditions available, customer service, and access to automated trading tools. One of the brokers that provides very favorable trading conditions with a team of Spanish and Portugeuge speaking account representatives is Key to Markets.</p>
<h3><span>Key to Markets Summary</h3>
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">
<p><span>Broker</p>
</td>
<td colspan="1" rowspan="1">
<p><span>Key to Markets</p>
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
<p><span>Regulators</p>
</td>
<td colspan="1" rowspan="1">
<p><span>FSC (Mauritius) and FCA (the UK)</p>
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
<p><span>Headquarters</p>
</td>
<td colspan="1" rowspan="1">
<p><span>London, UK</p>
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
<p><span>Account types</p>
</td>
<td colspan="1" rowspan="1">
<p><span>Standard and PRO</p>
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
<p><span>Deposit fee</p>
</td>
<td colspan="1" rowspan="1">
<p><span>Starting from 0%-2.5%</p>
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
<p><span>Withdrawal fee</p>
</td>
<td colspan="1" rowspan="1">
<p><span>Starting from 0%-1%</p>
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
<p><span>Demo Account</p>
</td>
<td colspan="1" rowspan="1">
<p><span>Yes</p>
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
<p><span>Swap-free account</p>
</td>
<td colspan="1" rowspan="1">
<p><span>No</p>
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
<p><span>Spread</p>
</td>
<td colspan="1" rowspan="1">
<p><span>Starting from 0 pips</p>
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
<p><span>Commission</p>
</td>
<td colspan="1" rowspan="1">
<p><span>€0.06 / $0.08 per microlot</p>
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
<p><span>Minimum deposit</p>
</td>
<td colspan="1" rowspan="1">
<p><span>$50</p>
</td>
</tr>
</tbody>
</table>
<p>
<h2><span>FAQs</h2>
<h3><span>1 Is forex trading legal in South American Countries?</h3>
<p><span>Yes, it’s legal to trade forex in most countries in South America. However, certain regulations may vary from country to country so make sure you check with your local regulator before opening an account and placing trades.</p>
<h3><span>2 Can I use offshore brokers in South America?</h3>
<p><span>Yes, you can use offshore brokers in most South American countries. However, it’s important to do your research and make sure the broker is regulated in a safe and respectable country  before signing up with them.</p>
<h3><span>3 What is the best forex broker in South America?</h3>
<p><span>The best Forex broker for you will depend on your individual needs and preferences. Factors such as trading conditions, customer service, and access to automated trading tools should all be taken into account when selecting a broker.</p>
<p>The post <a rel="nofollow" href="https://www.keytomarkets.com/blog/education/learn-trade-shares/find-the-best-forex-broker-in-south-america-24597/">Find the Best Forex Broker in South America</a> appeared first on <a rel="nofollow" href="https://www.keytomarkets.com/blog">Key To Markets Blog</a>.</p>