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Best forex brokers for beginners in Brazil in 2022

Forex.com Logo
1st place
Forex.com
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73% of retail CFD accounts lose money
Capital.com Logo
2nd place
Capital.com
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81.40% of retail CFD accounts lose money
TD Ameritrade Logo
3rd place
TD Ameritrade

To help you find the best forex brokers for beginners in Brazil in 2022, we first looked at 103 online brokers; then we checked and compared their fees, currency pair selection, charting tools and educational materials.

Our top 5 picks for the best forex brokers for beginners in Brazil in 2022:

  1. Forex.com is the winner, the best forex broker for beginners in Brazil in 2022. Low forex fees. Great variety of currency pairs. Diverse technical research tools.
  2. Capital.com takes second place. Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
  3. TD Ameritrade rounds out the top three. Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
  4. Swissquote is ranked fourth. Access to many markets and products. No inactivity fee. Rock-solid background.
  5. Saxo Bank just made it on the list, taking the number five spot. Great trading platform. Outstanding research. Broad product portfolio.
Best forex brokers for beginners in 2022 for Brazilian citizens
Broker Info Minimum deposit Forex fee score
#1 Forex.com Global CFD and forex broker $100 4.6 stars
#2 Capital.com Global CFD broker $20 3.7 stars
#3 TD Ameritrade US-based stockbroker $0 4.1 stars
#4 Swissquote Swiss investment bank $0 4.2 stars
#5 Saxo Bank Danish investment bank $2,000 4.2 stars

What makes a top forex broker for beginners?

  • First of all, fair forex fees.
  • A lot of currency pairs.
  • A great platform with advanced charting.
  • Educational tools to guide you through the basics of trading.


If you're a beginner, be careful with forex trading as forex products are complex and risky, therefore not suitable for everyone. You can easily lose all your invested money. If you don't know how forex trading works, take a look at our forex education articles.

If you feel a bit more comfortable with forex trading, we suggest you also check out our overall list of the best forex brokers.

And now, let's see the top forex brokers for beginners in 2022 for Brazilian citizens one by one, starting with the winner, Forex.com.

Forex.com Logo

#1 Best forex brokers for beginners
Forex.com

Forex.com is a global FX and CFD broker established in 2001. Forex.com is a brand of StoneX Financial Ltd, whose parent company StoneX Group Inc is listed on the NASDAQ Stock Exchange (NASDAQ:SNEX). The company is regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK, the US Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). The group is also regulated by the Securities and Futures Commission of Hong Kong (SFC).

Forex.com is considered safe because it has a long track record, it is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Aslo, please note that CFDs are not available in the US – The products and services available to you at FOREX.com will depend on your location, and on which of its regulated entities holds your account.

Recommended for forex traders looking for low fees and great research tools

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73% of retail CFD accounts lose money

#1 Forex.com
Fees

Forex.com has low fees when it comes to buying and selling currency pairs.

To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Forex.com trading fees
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
EURUSD benchmark fee $5.9 $8.7 $7.0 $7.1 $7.1
GBPUSD benchmark fee $3.6 $6.6 $4.9 $5.2 $5.5
AUDUSD benchmark fee $5.6 $6.1 $8.0 $6.6 $5.7
EURCHF benchmark fee $5.8 $10.3 $7.2 $5.3 $5.1
EURGBP benchmark fee $7.1 $10.9 $9.3 $7.6 $8.7

All spreads, commissions and financing rates for opening a position, holding for a week and closing.

Forex.com non-trading fees
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
Account fee No No No No No
Inactivity fee Yes No No No Yes
Withdrawal fee $0 $0 $0 $10 $0

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73% of retail CFD accounts lose money

#1 Forex.com
Markets and products

Forex.com gives access to 91 currency pairs.
Forex.com currency pairs
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
Currency pairs (#) 91 138 140 80 190

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73% of retail CFD accounts lose money

Capital.com Logo

#2 Best forex brokers for beginners
Capital.com

Capital.com is a global CFD broker founded in 2016. It has offices located in the United Kingdom, Cyprus, Australia, Seychelles and Gibraltar, where each is authorized and regulated locally by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the Financial Services Authority of Seychelles (FSA), respectively.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.40% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for investors and cfd traders looking for a great trading platform and excellent customer service

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81.40% of retail CFD accounts lose money

#2 Capital.com
Fees

Capital.com has low fees when it comes to buying and selling currency pairs.

To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Capital.com trading fees
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
EURUSD benchmark fee $5.9 $8.7 $7.0 $7.1 $7.1
GBPUSD benchmark fee $3.6 $6.6 $4.9 $5.2 $5.5
AUDUSD benchmark fee $5.6 $6.1 $8.0 $6.6 $5.7
EURCHF benchmark fee $5.8 $10.3 $7.2 $5.3 $5.1
EURGBP benchmark fee $7.1 $10.9 $9.3 $7.6 $8.7

All spreads, commissions and financing rates for opening a position, holding for a week and closing.

Capital.com non-trading fees
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
Account fee No No No No No
Inactivity fee Yes No No No Yes
Withdrawal fee $0 $0 $0 $10 $0

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81.40% of retail CFD accounts lose money

#2 Capital.com
Markets and products

Capital.com gives access to 138 currency pairs.
Capital.com currency pairs
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
Currency pairs (#) 91 138 140 80 190

Visit broker More
81.40% of retail CFD accounts lose money

TD Ameritrade Logo

#3 Best forex brokers for beginners
TD Ameritrade

If you are an experienced trader looking for solid research and a well-equipped desktop trading platform, we definitely recommend TD Ameritrade.

Founded in 1975, TD is one of the biggest US-based stockbrokers and is regulated by top-tier authorities like the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).

This online broker is considered safe as it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials and is overseen by top-tier regulators.

Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform

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#3 TD Ameritrade
Fees

TD Ameritrade has low fees when it comes to buying and selling currency pairs.

To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

TD Ameritrade trading fees
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
EURUSD benchmark fee $5.9 $8.7 $7.0 $7.1 $7.1
GBPUSD benchmark fee $3.6 $6.6 $4.9 $5.2 $5.5
AUDUSD benchmark fee $5.6 $6.1 $8.0 $6.6 $5.7
EURCHF benchmark fee $5.8 $10.3 $7.2 $5.3 $5.1
EURGBP benchmark fee $7.1 $10.9 $9.3 $7.6 $8.7

All spreads, commissions and financing rates for opening a position, holding for a week and closing.

TD Ameritrade non-trading fees
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
Account fee No No No No No
Inactivity fee Yes No No No Yes
Withdrawal fee $0 $0 $0 $10 $0

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#3 TD Ameritrade
Markets and products

TD Ameritrade gives access to 140 currency pairs.
TD Ameritrade currency pairs
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
Currency pairs (#) 91 138 140 80 190

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Swissquote Logo

#4 Best forex brokers for beginners
Swissquote

Swissquote is a Swiss investment bank established in 1996. It has three main trading entities:

  1. Swissquote Bank - it provides all asset classes, including stocks and ETFs. This entity is based in Switzerland and has multiple regulations, including the top-tier Swiss Financial Market Supervisory Authority (FINMA). 
  2. Swissquote Bank Europe - it provides stocks, ETFs, funds, cryptos, forex, and CFD trading. This entity is based in Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg's regulator.
  3. Swissquote LTD - it provides CFD and forex trading. The entity is based in the UK and regulated by the Financial Conduct Authority (FCA).

The fact that Swissquote Bank Ltd has a banking license, is listed on the Swiss stock exchange, discloses detailed financials regularly, and has a long track record are all great signs with respect to Swissquote's safety. 

In this review, we focus mainly on the Swiss entity, sometimes referred to as "Swissquote Bank (CH)" and we will refer to the Luxembourg and UK-based entities as "Swissquote Europe (LUX)" and "Swissquote LTD (UK)", respectively.

Recommended for affluent investors who value safety and are ok with higher fees

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#4 Swissquote
Fees

Swissquote has low fees when it comes to buying and selling currency pairs.

To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Swissquote trading fees
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
EURUSD benchmark fee $5.9 $8.7 $7.0 $7.1 $7.1
GBPUSD benchmark fee $3.6 $6.6 $4.9 $5.2 $5.5
AUDUSD benchmark fee $5.6 $6.1 $8.0 $6.6 $5.7
EURCHF benchmark fee $5.8 $10.3 $7.2 $5.3 $5.1
EURGBP benchmark fee $7.1 $10.9 $9.3 $7.6 $8.7

All spreads, commissions and financing rates for opening a position, holding for a week and closing.

Swissquote non-trading fees
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
Account fee No No No No No
Inactivity fee Yes No No No Yes
Withdrawal fee $0 $0 $0 $10 $0

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#4 Swissquote
Markets and products

Swissquote gives access to 80 currency pairs.
Swissquote currency pairs
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
Currency pairs (#) 91 138 140 80 190

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Saxo Bank Logo

#5 Best forex brokers for beginners
Saxo Bank

Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK's Financial Conduct Authority (FCA).

Saxo Bank is a global service provider and as such it operates a number of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Markets UK.

Being regulated by top-tier financial authorities, having a long track record and a banking background are all good signs for Saxo Bank's safety.

HEADS UP: Recent issues with account opening – Saxo Bank seems to have a delay in sending you a crucial URL needed to start your account opening. For more info, see Saxo Bank account opening issues in the review's 'Account opening' chapter. Don't want to wait to open an account? Check out some Saxo Bank alternatives.

Recommended for investors and traders looking for a great trading platform and solid research

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#5 Saxo Bank
Fees

Saxo Bank has low fees when it comes to buying and selling currency pairs.

To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Saxo Bank trading fees
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
EURUSD benchmark fee $5.9 $8.7 $7.0 $7.1 $7.1
GBPUSD benchmark fee $3.6 $6.6 $4.9 $5.2 $5.5
AUDUSD benchmark fee $5.6 $6.1 $8.0 $6.6 $5.7
EURCHF benchmark fee $5.8 $10.3 $7.2 $5.3 $5.1
EURGBP benchmark fee $7.1 $10.9 $9.3 $7.6 $8.7

All spreads, commissions and financing rates for opening a position, holding for a week and closing.

Saxo Bank non-trading fees
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
Account fee No No No No No
Inactivity fee Yes No No No Yes
Withdrawal fee $0 $0 $0 $10 $0

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#5 Saxo Bank
Markets and products

Saxo Bank gives access to 190 currency pairs.
Saxo Bank currency pairs
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
Currency pairs (#) 91 138 140 80 190

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Best forex brokers for beginners
Forex broker fees

Forex brokers can charge commissions, spreads and financing fees.

When it comes to commissions, there are two different fee structures forex brokers normally use:

  1. All trading fees are included in the spread except the financing rate. Basically, think of it as the broker giving you a wider spread than it gets from the market.
  2. You get the market spread, but you pay a commission based on the traded amount. This model is usually used by ECN brokers.

The second version is more transparent, but this doesn't always mean it's more expensive.

When you trade forex on leverage and hold your position overnight, a fee will be charged. This is called financing cost. Financing costs change daily, and can add up if you hold your positions for a longer period.

Best forex brokers for beginners
Bottom line

You saw the details, now let's zoom out. Here are the top forex brokers for beginners in 2022 for citizens in Brazil:

Top forex brokers for beginners in 2022 for Brazilian citizens
Forex.com Capital.com TD Ameritrade Swissquote Saxo Bank
Fees score 3.8 stars 4.4 stars 4.2 stars 2.4 stars 3.3 stars
Markets and products score 2.4 stars 3.1 stars 3.8 stars 5.0 stars 5.0 stars
Education score 5.0 stars 5.0 stars 5.0 stars 5.0 stars 4.5 stars
Charting quality High High High High High
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73% of retail CFD accounts lose money
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81.40% of retail CFD accounts lose money
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Forex.com is our winner, the best forex broker for beginners for Brazilian citizens in 2022. Low forex fees. Great variety of currency pairs. Diverse technical research tools.

If you know enough about forex trading and are comfortable with possible risks, pick your favourite and take the next step in your trading journey. Let us know what you think in the comments section.

Still unsure? Use our broker finder to pick the best broker for you.

Author of this article

Dan Sallai

Author of this article

My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Visit Forex.com
73% of retail CFD accounts lose money
Visit Capital.com
81.40% of retail CFD accounts lose money

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