Top 6 Trading Platforms in Brazil
What Is a Trading Platform?
Trading platforms are software used for managing all aspects of a trade through a financial mediator like an online broker.
They are offered to all traders either for free or at a competitive rate in exchange for maintaining an active account.
The trading and investing industry is competitive; therefore, trading platforms come with a host of features, including:
- Real-time quotes
- Charting tools
- Advanced research tools
- Education resources
Some trading platforms offer a wide range of investment options. Others are more market-specific, such as forex or commodities.
Trading platforms also fall into one of two categories: commercial or prop.
Prop platforms are fully customized and developed by large brokerages to suit their specific needs and trading styles.
Commercial platforms are designed for day traders and retail investors. They are easy to use and come with an assortment of appealing features.
The 2020 COVID-19 pandemic saw a sharp rise in the trading industry. Therefore, a whole host of trading platforms are now available to the public.
Regardless of your trading level, choosing a broker that suits your needs is not always easy.
This article is designed to inform you of the important factors to consider when choosing a trading platform in Brazil and five of the top-rated commercial platforms available today.
Key Points To Remember When Choosing a Platform
You might be tempted to overlook this area, but having a good knowledge base and understanding the tools and data will help you maximize your investments.
Demo accounts fall under education; however, it is a feature that you should look for when finding the best trading platform.
These accounts allow you to test your skills, knowledge and strategy with real-time trades without losing any of your money.
You can stick with your demo account until you have perfected your trading style and are ready to live trade.
The customer service functions vary. Some offer 24/7 phone and live chat, others email only.
If you struggle with technology, you should consider the level of support that is available.
Check review sites to see how other traders rate a platform's customer service. They may say they offer around-the-clock live chat support, but how often are they actually online and how quickly do they respond?
You should also consider your location concerning the trading platform. Being based in Brazil, your time zone is better suited to US working hours.
Ease of Use
Looking at graphs, chart patterns, and data all day can be challenging, especially if it's on a chaotic screen.
Take advantage of demo accounts to see which trading platforms are easy to use.
The best platforms will allow you to customize your screen and menus so you can see the information you want with ease.
When deciding the best international trading platforms, you should look for who it is regulated by.
The most secure online brokers are those regulated by top-tier jurisdictions such as the US and UK.
However, as the Brazilian Stock Exchange is one of the strongest, you should also check if the platform is regulated by the Comissão de Valores Mobiliários (CVM).
Some trading platforms choose to focus on just one type of asset, while others offer all types.
The most common are:
No rule says you must only have one broker, so you can choose ones with specific assets. But if you are planning on having a diverse portfolio, consider a platform with multiple asset types.
Access to Real-Time Information
The data you have access to determines how informed your trades are.
Look for a trading platform that is rich in advanced research tools with real-time updates.
Fundamental data is one of the most valuable research tools; however, not all brokers offer it.
Every trading platform comes at a cost, and some are more suited to your budget than others.
When assessing your broker, make a note of the following:
- Minimum deposit
- Transfer and withdrawal fees
- Trade fees
- Additional or hidden fees
- Inactivity fees
How you plan on trading may influence your final choice.
If you plan on trading full-time, you want a broker that offers a high-quality web, desktop and mobile app trading platform.
For more casual traders, you might opt for a broker that has a comprehensive web and mobile trading platform.
If you are someone always on the go, you should look for platforms that enable you to set up alerts, notifications, or automated trades.
Deciding What Works for You
Every trader has different levels of understanding and different financial goals.
Do not use a trading platform just because someone you know does.
Assess the features, use the demo accounts and pick one that fits you and your needs.
1. Olymp Trade
Top Five Trading Platforms in Brazil
Founded in 2014, Olymp Trade is a relative newcomer as a trading platform but has more than 25 million users worldwide.
Traders can buy and sell stocks, commodities, forex, cryptocurrencies and ETFs with a minimum deposit of $10.
Based in St. Vincent and the Grenadines, Olymp Trade is regulated by the IFC.
All deposits and withdrawals are free, whether you use bank transfer, cards or e-wallets, but there is an inactivity fee after 180 days of $10 (or equivalent) per month.
Commission is about 8% of the trade on Olymp Trade, and the spreads are about average on currency pairs. There are no fees for deposits or withdrawals, with a minimum withdrawal amount of $10.
The trading platform is available on web, mobile and desktop and is straightforward to use with a seamless user experience. The interface is customisable, and you can use various indicators and analysis tools while making trades on options on forex.
The mobile app is native for both iOS and Android and is designed to have the full functionality of the web and desktop platform, with notifications and alerts.
If you want to use Olymp Trade for buying Bitcoin, it is worth noting that you can only trade cryptocurrency CFDs rather than buying and owning the altcoins.
Traders on the platform are designated different statuses, depending on the amount of deposit.
- Starter is up to $499 deposit, which offers basic functionality.
- For those that deposit $500 to $1,999, the Advanced status offers more open positions, faster withdrawal requests, monthly consultations with professionals, built-in trading strategies and private webinars. You can get a 10% discount on Forex fees too.
Advanced status comes from depositing more than $2,000, and includes risk-free trades, individual training and exclusive daily investment ideas as well as everything else that is available in the lower status groups.
There are lots of educational resources available on Olymp Trade, including a Learn How to Trade in 30 Minutes course and other articles, tutorials and videos all listed by theme and category.
Research is in-house and includes forecasts, technical analytics and a blog with lots of useful information, with analysis like charting, an economic calendar and fundamental data.
Customer service is available in multiple languages and can be accessed 24/7 via phone, email or live chat.
Regulation: Australia, Denmark, France, Japan, Singapore, South Africa, Switzerland
Minimum deposit: $10,000
Demo account: Yes
Tradable assets: Bond, CFD, Crypto, ETF, Forex, Fund, Futures, Options, SaxoSelect, Stocks
Trading platform available in Portuguese: Yes
Saxo is a Danish investment bank founded in 1992. It has survived a recession and is regulated by several top-tier jurisdictions, making it reliable.
They offer a very well-designed web, desktop, and mobile app trading platform and a wide-ranging product portfolio, meeting the needs of all traders.
The research tools are some of the best available, and the Saxo proprietary research team is always offering new trading tips and ideas.
Forex and fund fees are competitively low, and there are no withdrawal fees.
However, there is an inactivity fee of $150, and their bond, options and futures fees are high.
The only customer service channel is phone support, available during business hours.
While Saxo excels at research, its educational resources are limited to video tutorials and webinars.
Regulation: Australia, Cyprus, UK
Minimum deposit: $1,000
Demo account: Yes
Tradable assets: CFD, Crypto, ETF, Forex, Stocks
Trading platform available in Portuguese: Yes
The forex, CFD and trading fees are low, with stocks and ETF trading being free.
The web and mobile app trading platforms are very well designed and easy to use but lack customization.
It has some good research tools, such as interactive charts and analyst recommendations but falls short on fundamental data and news flow.
eToro's non-trading fees are high, and there is little educational material.
It has also been reported that customer service is difficult to reach.
Regulation: Australia, Canada, Hong Kong, Hungary, India, Ireland, Japan, Luxemburg, UK, US
Minimum deposit: $0
Demo account: Yes
Tradable assets: Bond, CFD, Crypto, ETF, Forex, Fund, Futures, Options, Stocks, Structured Products, Warrants
Trading platform available in Portuguese: No
Interactive Brokers has some of the lowest trading fees available on the market.
This broker is designed for more advanced traders, however. The account opening process is complex, and the platforms are not as user-friendly as others.
Additionally, inactivity fees are high and vary depending on your account balance and age.
They have incredible research and data tools with desirable third-party integrations. Educational materials are extensive and include trading glossaries, online courses, tutorials and webinars.
Interactive Brokers offers phone and live chat support; however, it can sometimes be slow.