6 Best Forex Brokers in Chile
Last Update: March 13th, 2024
The 6 Best Forex brokers in Chile revealed. We have explored and tested several prominent brokers to identify the 6 best.
In this in-depth guide you’ll learn:
- What is a Forex broker in South America
- Who are the best brokers in Chile
- Pros and cons of each broker
- Popular FAQs about the best Forex brokers in Chile
And lots more…
So, if you’re ready to go “all in” with the 6 best Forex brokers in Chile…
Let’s dive right in…
🏆 10 Best Forex Brokers
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> |
| 🥈 |  | Read Review | FMA, FSA | USD 50 | Visit Broker >> |
| 🥉 |  | Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
| 4 |  | Read Review | SFSA, FSCA, CySec* | USD 5 | Visit Broker >> |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker >> |
| 6 |  | Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker >> |
| 8 |  | Read Review | Not Regulated | 0.001 BTC | Visit Broker >> |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
| 10 |  | Read Review | CySEC,MISA, FSCA | USD 20 | Visit Broker >> |
What is a Forex broker in Chile?
International Forex brokers catering to traders in Chile offer diverse trading instruments, competitive spreads, and robust platforms. They provide localized support in Spanish, adhere to regulatory standards, and offer seamless deposit and withdrawal options. These brokers prioritize transparency and provide educational resources to empower traders.
Best Forex Brokers in Chile
| 👥 Brokers | 👉 Open Account | 💰 Minimum Deposit | ⚖️ Regulators | ✔️ Accepts Chile Traders |
| eToro | 👉 Open Account | CLP 48,166.00 or $50 | CySEC, FCA | ✔️ |
| AvaTrade | 👉 Open Account | CLP96,360.00 or $100 | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA | ✔️ |
| Interactive Brokers | 👉 Open Account | There is no specific minimum deposit required | SEC, CFTC, FCA | ✔️ |
| Saxo Bank | 👉 Open Account | None | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA | ✔️ |
| Exness | 👉 Open Account | Based on chosen regional deposit method | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA | ✔️ |
| Pepperstone | 👉 Open Account | CLP 107,339.11 AU$200 | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB | ✔️ |
6 Best Forex Brokers in Chile (2024*)
- ☑️eToro – Overall, Multi-asset platform in South America.
- ☑️AvaTrade – Best Award-winning platforms in Chile.
- ☑️Interactive Brokers – Low Cost & Best Execution.
- ☑️Saxo Bank – Award-winning trading platforms for mobile traders.
- ☑️Exness – The best user-friendly platform in Chile.
- ☑️Pepperstone – Offering ultra-low-cost trading.
6 Best Forex Brokers in Chile
eToro
Overview
eToro is a leading trading platform recognized for its innovative and accessible approach for investors of all levels in Chile. Its intuitive and user-friendly platform offers a wide selection of assets, including forex, stocks, cryptocurrencies, and more.
Chilean traders can enjoy competitive trading conditions, with tight spreads and no hidden commissions on trades. Additionally, eToro offers a unique “copy trading” option, allowing users to automatically follow and replicate the trades of successful investors.
This provides a unique opportunity to learn and profit simultaneously. eToro stands out for its commitment to transparency and education, offering a wide range of educational resources and localized Spanish support to help traders in Chile achieve their financial goals.
Unique Features
| Feature | Information |
| ⚖️ Regulation | CySEC, FCA |
| 💻 Account Types | Personal Account Professional Account Corporate Account Islamic Account |
| 💵 Minimum Spread | From 0.9 pips |
| 💸 Minimum Deposit | CLP 48,166.00 or $50 |
| 📱 Platforms Supported | eToro proprietary platform |
| 📈 Range of Markets | Stocks. Indices. ETFs. Currencies. Commodities. Cryptoassets. |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | Facebook YouTube Telegram |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
✔️ Pros ❌ Cons eToro's innovative social trading platform enables users to interact with and replicate the trades of successful investors, encouraging learning and perhaps improving trading performance. eToro's research capabilities are considerably limited in comparison to other platforms, which may impede in-depth study for traders in Chile. eToro provides a diverse choice of assets, including equities, cryptocurrencies, commodities, and FX pairings. While eToro offers competitive spreads, they may be slightly higher than those offered by other brokers, affecting traders' trading costs. eToro's straightforward interface is simple to use, making it accessible to traders of all skill levels, including beginners in Chile. The charting tools on eToro's platform are less extensive than those provided by other brokers, restricting traders' technical analysis capabilities. eToro provides CopyPortfolios, which are diversified investment portfolios managed by specialists and enable traders to invest in several assets with a single click. eToro charges withdrawal fees and requires minimum withdrawal amounts, which may be a disadvantage for traders in Chile.
Trust Score
eToro has a trust score of 90%
AvaTrade
Overview
AvaTrade is a renowned trading platform that offers a wide range of financial instruments for traders in Chile. With an established reputation in the industry, AvaTrade provides access to forex, stocks, cryptocurrencies, commodities, and more, catering to the specific needs of Chilean investors.
The platform offers competitive trading conditions, including tight spreads and fast order execution, enabling Chilean traders to seize real-time market opportunities. AvaTrade also stands out for its commitment to safety and transparency, being regulated by multiple international financial authorities.
Additionally, it offers educational resources in Spanish and localized customer support to assist traders in Chile on their journey toward financial success.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA |
| 💻 Account Types | Retail Account, Professional Account |
| 💵 Minimum Spread | From 0.0 pips |
| 💸 Minimum Deposit | CLP96,360.00 or $100 |
| 📱 Platforms Supported | AvaTradeGO AvaOptions AvaSocial MetaTrader 4 MetaTrader 5 DupliTrade ZuluTrade |
| 📈 Range of Markets | Forex Stocks Commodities Cryptocurrencies Treasuries Bonds Indices Exchange-Traded Funds (ETFs) Options Contracts for Difference (CFDs) Precious Metals |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | Instagram YouTube |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade helps clients build diversified investment portfolios by offering a wide range of trading instruments such as FX pairings, stocks, commodities, indices, and cryptocurrencies. | Some customers have observed higher spreads compared to other brokers, which could increase trading costs, especially for frequent traders. |
| The integration of AvaTrade and ZuluTrade facilitates social trading by allowing users to see and mimic successful traders' strategies. | In comparison to other platforms, AvaTrade's research and analysis tools may be deemed limited, perhaps preventing certain traders from completing full market study. |
| AvaProtect offers advanced charting and technical analysis, AvaSocial enables social trading connections, and AvaTradeGo delivers mobile trading ease. | Novice traders may find the platform's advanced features and capabilities intimidating, requiring a significant amount of effort to properly learn. |
| AvaTrade ensures its clients a secure and dependable trading environment by adhering to the regulations of numerous reputable regulatory agencies, including the Financial Services Commission of the British Virgin Islands and the Central Bank of Ireland. | Although AvaTrade provides customer support, some clients may be frustrated owing to discrepancies in the quality and responsiveness of their services. |
| AvaTrade offers traders several educational resources, including webinars, tutorials, and market analysis, to help them improve their skill and comprehension. | There have been occasional claims of problems or delays in the withdrawal process at AvaTrade. Users that require immediate access to their funds may find this a difficult situation. |
Trust Score
AvaTrade has a high trust score of 96%
Interactive Brokers
Overview
Interactive Brokers is an excellent choice for traders in Chile due to its comprehensive range of features tailored to meet their needs.
Offering access to a diverse array of financial products including stocks, options, futures, forex, and bonds, it caters to the varied interests of Chilean investors.
With competitive pricing and low commissions, Interactive Brokers ensures cost-effective trading, making it particularly attractive to traders in Chile who seek to maximize their returns. Moreover, its advanced trading platform provides sophisticated tools and analytics, empowering traders to execute informed decisions.
Interactive Brokers also offers multi-currency capabilities, allowing traders in Chile to conveniently manage their accounts in pesos or other currencies.
With robust regulatory oversight and a strong reputation for reliability, security, and transparency, Interactive Brokers stands out as a trusted partner for traders in Chile seeking a comprehensive and reliable trading experience.
Unique Features
| Feature | Information |
| ⚖️ Regulation | SEC, CFTC, FCA |
| 💻 Account Types | Individual, Joint, Trust, IRA. Non-Professional Advisor. Family Office. Advisor. Advisor Client (including Non-Professional Advisor and Family Office) Broker Client. EmployeeTrack. |
| 💵 Minimum Spread | From 0.0 pips |
| 💸 Minimum Deposit | There is no specific minimum deposit required |
| 📱 Platforms Supported | IBKR |
| 📈 Range of Markets | Global stocks, options, futures, currencies, cryptocurrencies |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | Facebook YouTube |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Interactive Brokers gives traders access to a variety of global markets, including stocks, bonds, futures, currencies, and options, allowing them to diversify their portfolios across multiple asset classes. | Trading platforms and tools can be challenging for new traders to comprehend and use effectively. |
| Interactive Brokers' trading platforms, including Trader Workstation (TWS) and IBKR Mobile, offer traders extensive tools for analysis and execution. | Despite their low costs, Interactive Brokers' fee structures can be confusing for some traders due to the different charges assessed for various services and account types. |
| Interactive Brokers offers simple pricing structures and fair commission rates to active traders, particularly those with large volume, which may result in lower overall trading costs. | Certain account types at Interactive Brokers have minimum balance restrictions that are greater than those at other brokers, making it more difficult for traders with lesser account balances to access the platform. |
| Interactive Brokers provides traders with a wealth of research and analytical materials, such as market commentary, technical analysis, fundamental data, and research papers, to help them make informed investing decisions. | Although Interactive Brokers provides customer care by phone, email, and live chat, some traders may find the service less personalized or attentive than that of smaller brokers. |
| Portfolio margining, risk-based margining, and real-time margin computations are among the risk management capabilities offered by Interactive Brokers to assist traders in better managing and mitigating risk. | In comparison to other brokers, Interactive Brokers may offer less tutorials and educational resources, prompting newbie traders to seek additional assistance and educational materials |
Trust Score
Interactive Brokers has a trust score of 95%
Saxo Bank
Overview
Saxo Bank offers an array of advanced features and trading conditions that make it an ideal choice for professional traders in Chile.
With access to a wide range of asset classes including forex, stocks, bonds, commodities, and options, Saxo Bank provides comprehensive investment opportunities tailored to the diverse needs of Chilean traders.
Its sophisticated trading platform offers advanced charting tools, customizable indicators, and advanced order types, empowering traders to execute complex strategies with precision.
Additionally, Saxo Bank provides competitive pricing with transparent and competitive spreads, ensuring cost-effective trading for professional traders. Furthermore, Saxo Bank‘s extensive research and analysis tools, along with expert market commentary, enable Chilean traders to stay informed and make well-informed trading decisions.
With a strong reputation for reliability, security, and regulatory compliance, Saxo Bank is a trusted partner for professional traders in Chile seeking advanced trading capabilities and optimal trading conditions.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA |
| 💻 Account Types | Saxo Account, Joint Account, Corporate Account, Professional |
| 💵 Minimum Spread | From 0.0 pips |
| 💸 Minimum Deposit | None |
| 📱 Platforms Supported | SaxoTraderGO SaxoTraderPro |
| 📈 Range of Markets | Stocks ETFs Bonds Mutual funds Crypto ETPs |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | Facebook YouTube |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Saxo Bank provides traders with access to a wide selection of currency pairs, commodities, indices, and other asset classes, allowing them to diversify their trading options. | While Saxo Bank offers cheap spreads, its pricing structure is complex, with multiple commissions and taxes that may result in increased trading costs for traders. |
| The broker's flagship platform, SaxoTraderGO, provides comprehensive charting capabilities, customisable layouts, and smooth execution, allowing traders to implement their ideas effectively. | Saxo Bank may have fewer possibilities for Islamic trading accounts, which could be a disadvantage for traders looking for Sharia-compliant trading solutions. |
| Saxo Bank is a well-established and internationally recognized broker known for its dependability, openness, and respect to regulatory norms, giving traders piece of mind. | Despite offering multilingual service, traders in Chile may have restricted access to customer support during non-standard trading hours due to time zone variations. |
| Saxo Bank offers a plethora of training products, such as webinars, articles, and trading tips, to help traders improve their knowledge and skills in forex trading. |
Trust Score
Saxo Bank has a high trust score of 96%
Exness
Overview
Exness offers a compelling choice for traders in Chile with its low spreads, competitive account conditions, easy sign-up process, and excellent customer support.
Traders in Chile can benefit from tight spreads on a wide range of currency pairs, allowing for cost-effective trading.
The platform’s user-friendly interface makes account setup straightforward, enabling traders to start trading quickly.
Additionally, Exness provides responsive customer support in Spanish, ensuring assistance is readily available when needed.
With a commitment to transparency and reliability, Exness has established itself as a trusted partner for Chilean traders seeking a seamless trading experience with favorable conditions.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 💻 Account Types | Standard Account Standard Cent Account Raw Spread Account Zero Account Pro Account |
| 💵 Minimum Spread | From 0.0 pips |
| 💸 Minimum Deposit | Based on chosen regional deposit method |
| 📱 Platforms Supported | MetaTrader 4 MetaTrader 5 Exness Terminal Exness Trade app |
| 📈 Range of Markets | Forex Metals Crypto Energies Indices Stocks |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | Instagram YouTube |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Traders can change leverage based on their risk tolerance and trading style. | Some experts argue that the platform's trading capabilities and instruments, despite their high degree of customization, fall short when compared to other specialist platforms. |
| Before making genuine investments, traders may choose to open a demo account to gain practical experience with virtual funds. | Despite their best efforts, customer support professionals may experience periods of unavailability. As a result, there may be variations in the size and quality of their reactions. |
| Exness has been commended for its open disclosure of all trading conditions, fees, and spreads. | Certain traders, in contrast to their competitors, may be discouraged from using the user interface due to its possible complexity and refinement. |
| Exness has no fees for deposits or withdrawals. | Potential clients seeking a broader range of investing possibilities may be discouraged from joining Exness due to its only focus on FX and CFDs. |
| Local withdrawal and deposit methods are available. | Furthermore, considerable leverage increases the likelihood of experiencing severe losses. Despite the rigorous nature of market analysis and insights, some traders may find them insufficient. |
| Exness provides MetaTrader customers with trading automation solutions, including Expert Advisors (EAs) created exclusively for Taiwanese consumers. |
Trust Score
Exness has a trust score of 97%
Pepperstone
Overview
Pepperstone offers a range of standout features tailored to traders in Chile. With competitive pricing, tight spreads, and low commissions, Pepperstone provides cost-effective trading options for Chilean traders.
The platform’s advanced trading technology ensures fast execution and reliable performance, essential for success in the fast-paced Forex market. Pepperstone also offers a wide selection of trading instruments, including forex, commodities, cryptocurrencies, and more, catering to the diverse investment preferences of Chilean traders.
Furthermore, Pepperstone’s commitment to regulatory compliance and security provides peace of mind for traders in Chile, knowing their funds are safe.
With localized customer support in Spanish, educational resources, and analytical tools, Pepperstone empowers traders in Chile to make informed decisions and achieve their financial goals effectively.
Overall, Pepperstone stands out as a trusted and reputable choice for Chilean traders seeking a reliable and feature-rich trading experience in the global financial markets.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
| 💻 Account Types | Standard Account Razor Account Professional Account Demo Account Islamic Account |
| 💵 Minimum Spread | From 0.0 pips |
| 💸 Minimum Deposit | CLP 107,339.11 AU$200 |
| 📱 Platforms Supported | MetaTrader 4 MetaTrader 5 cTrader TradingView Myfxbook Duplitrade |
| 📈 Range of Markets | Forex Indices Shares Commodities Cryptocurrencies Futures Options |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | LinkedIn YouTube |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Pepperstone offers a cost-effective environment because it has among of the lowest spreads. | While Pepperstone offers a diverse range of FX pairings and CFDs, other markets, such as equities and cryptocurrencies, may have less active trading. |
| Pepperstone provides sophisticated trading platforms, such as MetaTrader 4, MetaTrader 5, and cTrader. | Customers have occasionally reported delays or difficulties contacting Pepperstone's customer service staff, particularly during peak trading hours. |
| By offering cheap transaction fees, the broker enables traders to significantly reduce their trading costs. | Certain traders in specific areas may be unable to use Pepperstone due to regulatory constraints, limiting their access to some potential consumers. |
| Pepperstone's trading system closes deals rapidly, lowering slippage and enhancing trade productivity. | Pepperstone's spreads are competitive in general, but they might expand in volatile markets, raising trading expenses. |
| Pepperstone offers a variety of educational services, including webinars, market analysis, and tutorials, to assist traders stay informed and develop their skills. | Traders may perceive Pepperstone's research services as less extensive than those of other brokers, even though Pepperstone provides some market analysis tools. |
Trust Score
Pepperstone has a high trust score of 92%
Conclusion
Overall, choosing the best international Forex broker for Chilean traders needs careful evaluation of regulatory compliance, trading conditions, platform features, and customer service. By stressing openness, security, and specialized services, traders can find a reliable partner to help them traverse the worldwide Forex markets.
Frequently Asked Questions
What are the key factors influencing currency exchange rates in Chile?
Currency exchange rates in Chile are influenced by various factors such as economic indicators, geopolitical events, central bank policies, and market sentiment.
How can Chilean traders mitigate risks in Forex trading?
Chilean traders can mitigate risks in Forex trading by employing risk management techniques such as setting stop-loss orders, diversifying their portfolios, and using leverage cautiously.
What are the most traded currency pairs among traders in Chile?
The most traded currency pairs among traders in Chile include major pairs such as EUR/USD, USD/JPY, and GBP/USD, as well as currency crosses like EUR/JPY and GBP/JPY.
What are the typical trading hours for the Forex market in Chilean time?
The Forex market operates 24 hours a day, five days a week. In Chilean time, the market opens on Sunday evening and closes on Friday evening.
What trading strategies are effective for traders in Chile?
Effective trading strategies for traders in Chile may include technical analysis, fundamental analysis, trend following, and range trading, among others.
Top 4 Brokers
