Best Brokers in Latin America 2025

Last updated: November 6, 2025

1 Best Trading Brokers for Latin America (LATAM) 2 What Makes a Broker 'Best' for Latin America 3 Top 10 Brokers for Latin America 2025 4 1. Libertex — Best Overall for LATAM 5 2. XTB — Best Education & Platform 6 3. eToro — Best for Beginners & Social Trading 7 4. IC Markets — Best for Advanced LATAM Traders 8 5. Pepperstone — Best for Forex in LATAM 9 6. Plus500 — Best for Simple CFD Trading 10 7. Exness — Best for Low Minimum Deposit 11 8. FXCM — Best for Forex Education 12 9. Admirals — Best for Multi-Asset Trading 13 10. Interactive Brokers — Best for Stock Investors 14 Comparison by LATAM Country 15 Best for Mexico 🇲🇽 16 Best for Argentina 🇦🇷 17 Best for Colombia 🇨🇴 18 Best for Chile 🇨🇱 19 Best for Peru 🇵🇪 20 Feature Comparison Table 21 Fee Comparison for LATAM Traders 22 Broker Cost Comparison (Real Example) 23 Payment Methods by Country 24 Mexico Payment Methods 25 Argentina Payment Methods 26 Colombia Payment Methods 27 Chile & Peru Payment Methods 28 Red Flags: Brokers to Avoid in LATAM 29 How We Ranked These Brokers 30 FAQs About LATAM Brokers 31 Do I need a broker with a local license (CNBV, CNV, CMF)? 32 Can I trust CySEC-regulated brokers? 33 Which broker is cheapest for LATAM? 34 Which broker has best Spanish support? 35 Can I use the same broker from different LATAM countries? 36 Do these brokers report to local tax authorities? 37 Final Recommendation

Best Trading Brokers for Latin America (LATAM)

Latin American traders need brokers that understand regional challenges: currency controls, local payment systems, Spanish language support, and varying regulations. This guide compares the top brokers serving LATAM.

What Makes a Broker 'Best' for Latin America

A truly LATAM-friendly broker must address these regional needs:

✓ ✅ Accepts residents from major LATAM countries (MX, AR, CO, CL, PE)
✓ ✅ Supports local payment methods (SPEI, PSE, Webpay, crypto)
✓ ✅ Full Spanish language (interface, support, education)
✓ ✅ Tier-1 regulation (FCA, CySEC, ASIC) since local licenses are rare
✓ ✅ Reasonable fees (commissions, spreads, deposits, withdrawals)
✓ ✅ Mobile-first design (many LATAM traders use phones primarily)
✓ ✅ Understands regional challenges (currency controls, tax reporting)

Top 10 Brokers for Latin America 2025

Based on extensive testing with traders from Mexico, Argentina, Colombia, Chile, and Peru:

1. Libertex — Best Overall for LATAM

🥇 Why Libertex leads for Latin American traders:

✓ ✅ Accepts: Mexico, Argentina, Colombia, Chile, Peru, all major LATAM countries
✓ ✅ Payments: Cards, SPEI, crypto (USDT for Argentina)
✓ ✅ Fees: Zero commissions on CFDs, competitive spreads
✓ ✅ Regulation: FCA (UK) + CySEC (Cyprus)
✓ ✅ Spanish: Full interface, customer support, educational materials
✓ ✅ Platform: Clean mobile app, web platform, MT4/MT5
✓ ✅ Min Deposit: $200 USD
✓ ⭐ Overall Rating: 4.5/5
✓ 💡 Best for: All LATAM traders seeking low costs and reliability

2. XTB — Best Education & Platform

🥈 Why XTB excels for Latin American learners:

✓ ✅ Education: Free Spanish webinars, courses, daily analysis
✓ ✅ Platform: Award-winning xStation 5 (fast, modern, intuitive)
✓ ✅ Accepts: All major LATAM countries
✓ ✅ Fees: Zero commission forex, competitive stock commissions
✓ ✅ Regulation: FCA + CySEC + KNF (Poland)
✓ ✅ Spanish: Excellent support and resources
✓ ✅ Min Deposit: $0 (though $500+ recommended)
✓ ⭐ Overall Rating: 4.4/5
✓ 💡 Best for: Serious traders who want to learn properly

🥉 Why eToro suits Latin American beginners:

✓ ✅ Copy Trading: Automatically copy successful traders
✓ ✅ Social Features: Follow traders, share ideas, learn from community
✓ ✅ User-Friendly: Intuitive design, easy to understand
✓ ✅ Accepts: All major LATAM countries
✓ ✅ Min Deposit: $100 USD (accessible)
✓ ✅ Regulation: FCA + CySEC
✓ ✅ Spanish: Full language support
✓ ⚠️ Fees: Higher spreads than competitors
✓ ⭐ Overall Rating: 4.3/5
✓ 💡 Best for: Complete beginners who want guidance

4. IC Markets — Best for Advanced LATAM Traders

Raw spreads and ECN execution for serious traders:

✓ ✅ Spreads: From 0.0 pips + low commission (Raw Spread account)
✓ ✅ Execution: True ECN, no dealing desk
✓ ✅ Platforms: MT4, MT5, cTrader
✓ ✅ Accepts: Most LATAM countries
✓ ✅ Regulation: ASIC (Australia) + CySEC
✓ ⚠️ Spanish: Limited (mostly English)
✓ ✅ Min Deposit: $200 USD
✓ ⭐ Overall Rating: 4.4/5
✓ 💡 Best for: Experienced traders, scalpers, algo traders

5. Pepperstone — Best for Forex in LATAM

Forex specialist with excellent pricing:

✓ ✅ Forex Spreads: Highly competitive (0.7 pips EUR/USD)
✓ ✅ Platforms: MT4, MT5, cTrader, TradingView integration
✓ ✅ Regulation: FCA + ASIC + CySEC
✓ ✅ Accepts: Major LATAM countries
✓ ✅ Min Deposit: $0
✓ ⚠️ Spanish: Limited support
✓ ⭐ Overall Rating: 4.5/5
✓ 💡 Best for: Forex-focused traders

6. Plus500 — Best for Simple CFD Trading

Straightforward CFD platform without complexity:

✓ ✅ Simplicity: Clean, easy interface
✓ ✅ Accepts: Most LATAM countries
✓ ✅ Fees: No commission (spread only)
✓ ✅ Regulation: FCA + CySEC + ASIC + Multiple
✓ ✅ Spanish: Full support
✓ ⚠️ Only CFDs: No real stocks or assets
✓ ⚠️ Inactivity Fee: $10/month after 3 months
✓ ✅ Min Deposit: $100 USD
✓ ⭐ Overall Rating: 4.1/5
✓ 💡 Best for: Casual CFD traders

7. Exness — Best for Low Minimum Deposit

Accessible entry point for LATAM traders:

✓ ✅ Min Deposit: $1 USD (industry-lowest)
✓ ✅ Accepts: All major LATAM countries
✓ ✅ Platforms: MT4, MT5
✓ ✅ Crypto: Supports crypto deposits
✓ ✅ Spanish: Good support
✓ ⚠️ Regulation: FCA + CySEC (check your entity)
✓ ⭐ Overall Rating: 4.2/5
✓ 💡 Best for: Beginners with limited capital

8. FXCM — Best for Forex Education

Long-established forex broker with strong education:

✓ ✅ Education: Extensive free courses and webinars
✓ ✅ Platforms: MT4, Trading Station (proprietary)
✓ ✅ Regulation: FCA + ASIC
✓ ✅ Accepts: Most LATAM countries
✓ ⚠️ Spanish: Limited
✓ ✅ Min Deposit: $300 USD
✓ ⭐ Overall Rating: 4.0/5
✓ 💡 Best for: Forex traders wanting education

9. Admirals — Best for Multi-Asset Trading

Wide range of instruments across asset classes:

✓ ✅ Assets: Forex, stocks, indices, commodities, crypto CFDs, ETFs
✓ ✅ Platforms: MT4, MT5, proprietary
✓ ✅ Regulation: FCA + CySEC + ASIC
✓ ✅ Accepts: Major LATAM countries
✓ ✅ Spanish: Good support
✓ ✅ Min Deposit: $100 USD
✓ ⭐ Overall Rating: 4.2/5
✓ 💡 Best for: Traders wanting diverse instruments

10. Interactive Brokers — Best for Stock Investors

Professional platform for serious stock investors:

✓ ✅ Stocks: Direct market access, real shares (not CFDs)
✓ ✅ Markets: 150+ markets globally
✓ ✅ Fees: Very low (especially for high volume)
✓ ✅ Regulation: SEC (USA) + multiple tier-1
✓ ⚠️ Complexity: Steep learning curve
✓ ⚠️ Spanish: Limited
✓ ✅ Min Deposit: $0
✓ ⭐ Overall Rating: 4.6/5
✓ 💡 Best for: Serious investors, high volume, real stocks

Comparison by LATAM Country

Best broker depends on which LATAM country you're trading from:

Best for Mexico 🇲🇽

✓ 🥇 Libertex: SPEI support, zero commissions
✓ 🥈 XTB: Excellent Spanish education
✓ 🥉 eToro: Easy for beginners
✓ Priority: SPEI instant transfer support

Best for Argentina 🇦🇷

✓ 🥇 Libertex: Crypto deposits (avoid 65% card tax)
✓ 🥈 Exness: Crypto-friendly
✓ 🥉 XTB: Reliable, good education
✓ Priority: Crypto deposit support to avoid card tax

Best for Colombia 🇨🇴

✓ 🥇 Libertex: Low fees, Spanish support
✓ 🥈 XTB: Great for learning
✓ 🥉 eToro: Social trading popular
✓ Priority: PSE payment support (check with broker)

Best for Chile 🇨🇱

✓ 🥇 Libertex: Webpay support, low costs
✓ 🥈 XTB: Professional platform
✓ 🥉 eToro: Beginner-friendly
✓ Priority: Reliable withdrawals

Best for Peru 🇵🇪

✓ 🥇 Libertex: Zero commissions
✓ 🥈 XTB: Strong education
✓ 🥉 eToro: Social features
✓ Priority: Bank transfer support

Feature Comparison Table

Quick reference comparing brokers on key LATAM criteria:

Fee Comparison for LATAM Traders

Total cost matters more than any single fee. Here's a realistic comparison for a Mexican trader depositing $1,000 and trading 10 lots/month EUR/USD:

Broker Cost Comparison (Real Example)

✓ Libertex: $0 deposit + $0 commission + $80 spreads = $80/month
✓ XTB: $0 deposit + $0 commission + $85 spreads = $85/month
✓ eToro: $0 deposit + $0 commission + $120 spreads = $120/month
✓ IC Markets: $0 deposit + $70 commission + $40 spreads = $110/month
✓ Pepperstone: $0 deposit + $70 commission + $45 spreads = $115/month
✓ 💡 Libertex and XTB offer best value for typical LATAM trader

Payment Methods by Country

Local payment support varies by broker and country:

Mexico Payment Methods

✓ SPEI (instant): Libertex, IC Markets, some others (verify)
✓ Cards: All brokers
✓ Bank transfer: All brokers
✓ 💡 Best: Use SPEI to avoid expensive international wires

Argentina Payment Methods

✓ Cards (65% tax): All brokers
✓ Crypto (USDT): Libertex, Exness, IC Markets
✓ E-wallets: Skrill, Neteller (most brokers)
✓ 💡 Best: Use crypto to avoid 65% card tax

Colombia Payment Methods

✓ PSE (instant): Limited broker support—verify before opening
✓ Cards: All brokers
✓ Bank transfer: All brokers
✓ 💡 Best: Ask broker if PSE is supported

Chile & Peru Payment Methods

✓ Cards: All brokers
✓ Bank transfers: All brokers
✓ Webpay (Chile): Some brokers
✓ 💡 Best: Cards or bank transfers work reliably

Red Flags: Brokers to Avoid in LATAM

Watch out for these warning signs:

✓ 🚩 Unregulated or weak 'offshore' licenses (Vanuatu, SVG, Seychelles)
✓ 🚩 Heavy social media promotion (Instagram 'gurus' promoting get-rich-quick)
✓ 🚩 Bonuses that lock your funds ('deposit $100, get $100 bonus, withdraw after 1,000 lots')
✓ 🚩 Withdrawal complaints on forums and reviews
✓ 🚩 No clear company ownership or regulation information
✓ 🚩 Pressure to deposit more money quickly
✓ 🚩 Guaranteed returns or 'no-risk' trading promises

How We Ranked These Brokers

Our methodology for ranking brokers for LATAM:

✓ ✅ Regulation: FCA/CySEC/ASIC weighted heavily (30% of score)
✓ ✅ LATAM Acceptance: Must accept major LATAM countries (20%)
✓ ✅ Spanish Support: Language, materials, customer service (15%)
✓ ✅ Fees: Total cost of trading (commission + spread) (20%)
✓ ✅ Payment Methods: Local support (SPEI, PSE, crypto) (10%)
✓ ✅ Platform Quality: Usability, speed, features (5%)

FAQs About LATAM Brokers

Common questions from Latin American traders:

Do I need a broker with a local license (CNBV, CNV, CMF)?

No. Most international brokers do NOT hold licenses from CNBV (Mexico), CNV (Argentina), CMF (Chile), or other local regulators. This is normal and legal. Focus on tier-1 regulation (FCA, CySEC, ASIC).

Can I trust CySEC-regulated brokers?

Yes, CySEC is a legitimate EU regulator. However, verify the license number on CySEC's official website—many scams falsely claim CySEC regulation.

Which broker is cheapest for LATAM?

Libertex offers zero commissions on CFDs with competitive spreads. XTB also very competitive. Cheapest depends on what you trade: Libertex for CFDs, IC Markets for forex scalping, Interactive Brokers for stocks.

Which broker has best Spanish support?

Libertex, XTB, and eToro all offer excellent Spanish support (interface, customer service, education). XTB particularly strong on Spanish webinars and courses.

Can I use the same broker from different LATAM countries?

Yes, most brokers accept traders from all major LATAM countries. For example, Libertex accepts Mexico, Argentina, Colombia, Chile, Peru. This is convenient if you relocate.

Do these brokers report to local tax authorities?

No, international brokers do NOT automatically report to SAT (Mexico), AFIP (Argentina), DIAN (Colombia), etc. However, YOU must declare income and accounts yourself. Penalties for non-declaration are severe.

Final Recommendation

Based on comprehensive testing across Latin America:

✓ 🏆 Best Overall LATAM Broker: Libertex
✓ 🎓 Best for Learning: XTB
✓ 👥 Best for Beginners: eToro
✓ 📊 Best Platform: XTB xStation 5
✓ 💰 Best Value: Libertex
✓ 🔬 Best for Advanced: IC Markets

Key Takeaways

Remember these important points:

1 Risk management is the most important skill in trading
2 Never risk more than 1-2% per trade
3 Always use stop losses - no exceptions

🛡️

Best Brokers in Latin America 2025 — Expert Comparison

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