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6 Best Forex Brokers in Chile

Last Update: June 26th, 2024

Best Forex Brokers in Chile

 

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

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker >>
🥈Read ReviewFMA, FSAUSD 50Visit Broker >>
🥉Read ReviewFSCA, CySEC, DFSA, FSA, CMAUSD 0Visit Broker >>
4Read ReviewASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBUSD 200Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewCySEC, MISA, FSCAUSD 25Visit Broker >>
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker >>
8Read ReviewCBCS, CySEC, FCA, FSA, FSC, FSCA, CMAUSD 10Visit Broker >>
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker >>
10Read ReviewIFSC, FSCA, ASIC, CySECUSD 1Visit 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 AccountCLP 48,166.00 or $50 CySEC, FCA ✔️
AvaTrade 👉 Open AccountCLP96,360.00 or $100 Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA ✔️
Interactive Brokers 👉 Open AccountThere is no specific minimum deposit required SEC, CFTC, FCA ✔️
Saxo Bank 👉 Open AccountNone Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA ✔️
Exness 👉 Open AccountBased on chosen regional deposit method FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA ✔️
Pepperstone 👉 Open AccountCLP 107,339.11 AU$200 ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB ✔️

 

6 Best Forex Brokers in Chile (2024*)

  1. ☑️eToro – Overall, Multi-asset platform in South America.
  2. ☑️AvaTrade – Best Award-winning platforms in Chile.
  3. ☑️Interactive Brokers – Low Cost & Best Execution.
  4. ☑️Saxo Bank – Award-winning trading platforms for mobile traders.
  5. ☑️Exness – The best user-friendly platform in Chile.
  6. ☑️Pepperstone – Offering ultra-low-cost trading.

 

6 Best Forex Brokers in Chile 

eToro 

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.

 

eToro Best Forex Brokers in Chile

 

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 

FeatureInformation
⚖️ RegulationCySEC, FCA
💻 Account TypesPersonal Account

Professional Account

Corporate Account

Islamic Account
💵 Minimum SpreadFrom 0.9 pips
💸 Minimum DepositCLP 48,166.00 or $50
📱 Platforms SupportedeToro proprietary platform
📈 Range of MarketsStocks.

Indices.

ETFs.

Currencies.

Commodities.

Cryptoassets.
📊 Demo AccountYes
✴️ Social Trading OfferedFacebook

Twitter

LinkedIn

YouTube

Instagram

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 

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.  

 

AvaTrade Best Forex Brokers in Chile

 

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 

FeatureInformation
⚖️ RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA
💻 Account TypesRetail Account, Professional Account
💵 Minimum SpreadFrom 0.0 pips
💸 Minimum DepositCLP96,360.00 or $100
📱 Platforms SupportedAvaTradeGO

AvaOptions

AvaSocial

MetaTrader 4

MetaTrader 5

DupliTrade

ZuluTrade
📈 Range of MarketsForex

Stocks

Commodities

Cryptocurrencies

Treasuries

Bonds

Indices

Exchange-Traded Funds (ETFs)

Options

Contracts for Difference (CFDs)

Precious Metals
📊 Demo AccountYes
✴️ Social Trading OfferedInstagram

Facebook

Twitter

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 

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.  

 

Interactive Brokers Best Forex Brokers in Chile

 

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 

FeatureInformation
⚖️ RegulationSEC, CFTC, FCA
💻 Account TypesIndividual, Joint, Trust, IRA.

Non-Professional Advisor.

Family Office.

Advisor.

Advisor Client (including Non-Professional Advisor and Family Office)

Broker Client.

EmployeeTrack.
💵 Minimum SpreadFrom 0.0 pips
💸 Minimum DepositThere is no specific minimum deposit required
📱 Platforms SupportedIBKR
📈 Range of MarketsGlobal stocks, options, futures, currencies, cryptocurrencies
📊 Demo AccountYes
✴️ Social Trading OfferedFacebook

Twitter

LinkedIn

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 

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.  

 

Saxo Bank

 

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 

FeatureInformation
⚖️ RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA
💻 Account TypesSaxo Account, Joint Account, Corporate Account, Professional
💵 Minimum SpreadFrom 0.0 pips
💸 Minimum DepositNone
📱 Platforms SupportedSaxoTraderGO

SaxoTraderPro
📈 Range of MarketsStocks

ETFs

Bonds

Mutual funds

Crypto ETPs
📊 Demo AccountYes
✴️ Social Trading OfferedFacebook

Twitter

LinkedIn

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 

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.  

 

Exness

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 

FeatureInformation
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
💻 Account TypesStandard Account

Standard Cent Account

Raw Spread Account

Zero Account

Pro Account
💵 Minimum SpreadFrom 0.0 pips
💸 Minimum DepositBased on chosen regional deposit method
📱 Platforms SupportedMetaTrader 4

MetaTrader 5

Exness Terminal

Exness Trade app
📈 Range of MarketsForex

Metals

Crypto

Energies

Indices

Stocks
📊 Demo AccountYes
✴️ Social Trading OfferedInstagram

Facebook

Twitter

YouTube

LinkedIn
👉 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 

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.  

 

Pepperstone

 

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 

FeatureInformation
⚖️ RegulationASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
💻 Account TypesStandard Account

Razor Account

Professional Account

Demo Account

Islamic Account
💵 Minimum SpreadFrom 0.0 pips
💸 Minimum DepositCLP 107,339.11 AU$200
📱 Platforms SupportedMetaTrader 4

MetaTrader 5

cTrader

TradingView

Myfxbook

Duplitrade
📈 Range of MarketsForex

Indices

Shares

Commodities

Cryptocurrencies

Futures

Options
📊 Demo AccountYes
✴️ Social Trading OfferedLinkedIn

Twitter

Facebook

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%  

 

Best Forex Brokers in Chile

 

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. 

FAQs

Currency exchange rates in Chile are influenced by various factors such as economic indicators, geopolitical events, central bank policies, and market sentiment. 

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. 

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. 

Effective trading strategies for traders in Chile may include technical analysis, fundamental analysis, trend following, and range trading, among others. 

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