10 Best Forex Brokers in Ecuador
Last Update: April 30th, 2024
The 10 Best Forex Brokers in Ecuador – Rated and Reviewed. We have listed the top Forex Brokers accepting Traders in Ecuador.
In this in-depth guide, you will learn:
- The Best Forex Brokers in Ecuador – a List
- The Best Forex Brokers for Beginners and Foreigners
- Top MetaTrader 4 and MetaTrader 5 For Brokers
- Is Forex Trading legal in Ecuador?
and much, MUCH more!
10 Best Forex Brokers in Ecuador – a Comparison
| 🔎 Broker | 🚀Open an Account | 🤝 Accepts Ecuadorians | 💶 Min. Deposit |
| 🥇 IC Markets | 👉 Click Here | ✅Yes | 200 USD |
| 🥈 Tickmill | 👉 Click Here | ✅Yes | 100 USD |
| 🥉 Moneta Markets | 👉 Click Here | ✅Yes | 50 USD |
| 🏅 Pepperstone | 👉 Click Here | ✅Yes | AU$200 |
| 🎖️ FP Markets | 👉 Click Here | ✅Yes | AU$100 |
| 🥇 eToro | 👉 Click Here | ✅Yes | 10 USD |
| 🥈 IG | 👉 Click Here | ✅Yes | 50 USD |
| 🥉 XTB | 👉 Click Here | ✅Yes | None |
| 🏅 Admirals | 👉 Click Here | ✅Yes | 25 USD |
| 🎖️ XM | 👉 Click Here | ✅Yes | 5 USD |
10 Best Forex Brokers in Ecuador (2024)
- ☑️ IC Markets – Overall, the Best Forex Broker in Ecuador
- ☑️ Tickmill – The Best Forex Broker for Foreigners
- ☑️ Moneta Markets – Top Forex Broker for Beginners
- ☑️ Pepperstone – Excellent all-round offering
- ☑️ FP Markets – Leading MetaTrader 4, MetaTrader 5, and, cTrader Broker
- ☑️ eToro – Best Broker for Copy and Crypto Trading
- ☑️ IG – Over 80 Forex Pairs + Competitive spreads
- ☑️ XTB – Best Forex Broker for Low Costs
- ☑️ Admirals – Excellent Education and Research Tools
- ☑️ XM – High User Trust Score
IC Markets
IC Markets is a trustworthy and highly regulated Forex Broker. ASIC, CySEC, FSA, and the SCB regulate it. Account types include cTrader, Raw Spread, Standard, Professional, Islamic, and Demo. The minimum deposit is 200 USD.
Trading Platforms include MetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, and, ZuluTrade. ZuluTrade and IC Social offer a social trading platform whereas Signal Start automates the sourcing of signals.
Moreover, no fees are charged for Inactivity, deposits, or withdrawals. The following Trading Instruments and Products are provided:
- 64 currency pairings for trading
- 22 commodities
- 25 indices
- 11 distinct bond instruments
- 18 cryptocurrency alternatives
- 1,600 stocks
Furthermore, IC Markets provides various instructional tools, including trading knowledge articles, video tutorials, and, webinars.
| 🔎 Broker | 🥇 IC Markets |
| 💴 Minimum Deposit | 200 USD |
| 💵 Inactivity Fee | None |
| 📌 Regulation and Licenses | ASIC, CySEC, FSA, SCB |
| 5️⃣ Ease of Use Rating | 5/5 |
| 🎁 Bonuses | None |
| ⏰ Support Hours | 24/7 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Affordable forex and CFD trading costs | High minimum deposit requirement |
| Comprehensive education and research | No investor protection for non-EU customers |
Our Insights
The benefits of trading with IC Markets include a proprietary social trading platform, educational resources, and, trusted customer support.
Tickmill
Tickmill is a trustworthy and highly regulated online Forex and CFD broker. Seychelles FSA, FCA, CySEC, Labuan FSA, and, the FSCA regulate it. Accounts offered are VIP, Classic, Pro, Islamic, and, Demo. The minimum deposit is 100 USD.
Trading Platforms include MetaTrader 4, MetaTrader 5, and, a proprietary trading app. Tickmill’s mobile trading app offers a user-friendly platform for managing all account functions. Moreover, MetaTrader 4 and MetaTrader 5 provide automated trading techniques using Expert Advisors.
The following trading instruments and products are offered:
- 62 currency pairings
- 23 Indices
- 3 energy contracts
- 4 precious metals
- 4 bond instruments
Moreover, a selection of eight cryptocurrencies is available.
| 🔎 Broker | 🥇 Tickmill |
| 💴 Minimum Deposit | $100 |
| 💵 Inactivity Fee | None |
| 📈 Spreads | From 0.0 pips on the Pro and VIP Accounts |
| 📉 Leverage | 1:500 |
| 💶 Currency Pairs | 62, major, minor, and exotic pairs |
| 📊 Scalping | ✅Yes |
| 💹 Hedging | ✅Yes |
| 🖱️ Trading Platforms | MetaTrader 4, MetaTrader 5, Tickmill App |
| ⏰ Support Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| MetaTrader 4 and MetaTrader 5 | Limited range of instruments |
| Pro account with minimal commissions | Limited Trading Platforms |
Our Insights
The benefits of Trading with Tickmill include cost-effectiveness, tight spreads, and a Low-commission structure.
Moneta Markets
Moneta Markets is a comprehensive Forex and CFD broker. The FSCA, FSA Seychelles, CIMA, and ASIC regulate it. Accounts offered are Direct STP, Prime ECN, Ultra ECN, Islamic, and, Demo. The minimum deposit is 50 USD.
Trading Platforms available include PRO Trader, App Trader, MetaTrader 4, MetaTrader 5, and, CopyTrader. CopyTrader allows users to choose traders, modify risk levels, and duplicate trades.
Moreover, Moneta Markets provides regular market updates, analysis, and research reports on forex, commodities, and, indices.
| 🔎 Broker | 🥇 Moneta Markets |
| 📈 Established Year | 2019 |
| 📉 Regulation and Licenses | FSCA, FSA Seychelles, CIMA, ASIC |
| 📊 Ease of Use Rating | 4/5 |
| 🎁 Bonuses | ✅Yes |
| ⏰ Support Hours | 24/5 |
| 🖱️ Trading Platforms | PRO Trader, App Trader, MetaTrader 4, MetaTrader 5, CopyTrader App |
| 📌 Account Types | Direct STP, Prime ECN, Ultra ECN |
| 💴 Base Currencies | AUD, USD, GBP, EUR, SGD, CAD, NZD, JPY, HKD, BRL |
| 📍 Spreads | From 0.0 pips |
| 💹 Leverage | 1:1000 |
| 💵 Currency Pairs | 44; major, minor, and exotic pairs |
| 💶 Minimum Deposit | 50 USD |
| 💷 Inactivity Fee | None |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| 1,000+ tradable assets, including forex | Some account types may have volume constraints |
| Multilingual support | Limited Education |
Our Insights
The benefits of trading with Moneta Markets include more than 1,000 tradable assets, Multilingual Customer Support, and, competitive spreads.
Pepperstone
Pepperstone is a prominent Forex and CFD broker. ASIC, BaFin, CMA, CySEC, DFSA, FCA, and the SCB regulate it. Accounts offered are Standard, Razor, Islamic, and, Demo. The minimum deposit is AU$200.
Trading Platforms include TradingView, MetaTrader 4, MetaTrader 5, cTrader, and, Capitalise.ai. TradingView provides exceptional charting capabilities, whereas, Capitalise.ai offers automated trading.
The following instruments and products are offered:
- 70 Forex pairs, including major, minor, and exotic currency pairings
- 17 commodities
- 28 indices
- Over 1,000 shares
Furthermore, there are 100 ETFs accessible for trading.
| 🔎 Broker | 🥇 Pepperstone |
| 💴 Minimum Deposit | AU$200 |
| 📈 Account Types | Standard Account, Razor Account |
| 💵 Base Currencies | USD, GBP |
| 📉 Spreads | From 0.0 pips EUR/USD on the Razor Account |
| 📊 Leverage | 1:500 (Pro), 1:200 (Retail) |
| 💶 Currency Pairs | 70, minor, major, and exotic pairs |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Pepperstone provides responsive and friendly customer service that is available 24/7 | While trading fees are low, the costs of holding positions overnight can be significant |
| Traders are not charged for account inactivity | Transfers: International bank transfers have a $20 fee |
| There is a lot of educational content available to traders of all skill levels | The variety of platforms and advanced technologies can be overwhelming for novices |
| New users should expect a quick and easy account setup process | Pepperstone is not available in some countries, including the United States |
| Most deposit and withdrawal methods are free of charge, which increases the cost-effectiveness of trading with Pepperstone | Some customers may find Pepperstone's MetaTrader platform too simple in terms of appearance and use |
Our Insights
The Benefits of trading with Pepperstone include responsive customer support, educational resources, and, trusted customer support.
FP Markets
FP Markets is a trustworthy, highly regulated Forex Broker. ASIC, CySEC, FSCA, FSA, and the FSC regulate it. Accounts offered are Standard, Raw, Islamic Standard, Islamic Raw, and, Demo. The minimum deposit is AU$100.
Trading Platforms include MetaTrader 4, MetaTrader 5, IRESS, and, cTrader. The IRESS trading platform focuses on Australian equities, whereas cTrader provides comprehensive back-testing of techniques. The following trading instruments and products are offered:
- 70 currency pairings
- More than 10,000 Direct Market Access (DMA)
- 3 precious metals
- 4 energy commodities
- 17 indices
- 11 cryptocurrencies
- 2 separate bonds
Furthermore, 5 agricultural commodities are accessible.
| 🔎 Broker | 🥇 FP Markets |
| 💴 Minimum Deposit | AU$100 |
| 💵 Inactivity Fee | None |
| 📈 Spreads | From 0.0 pips |
| 📉 Leverage | 1:500 |
| 💶 Currency Pairs | Major, Minor, Exotic |
| 📌 Regulations | ASIC, CySEC, FSCA, FSA, FSC |
| 5️⃣ Ease of Use Rating | 4/5 |
| 🎁 Bonuses | None |
| ⏰ Support Hours | 24/7 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FP Markets is regulated in several regions | There are limited instruments offered |
| MetaTrader, cTrader, and IRESS are available | research tools are not extensive |
| Tight Spreads | Withdrawal fees apply |
| There are low forex fees | No sign-up or no-deposit bonus |
Our insights
The Benefits of trading with FP Markets include excellent 24/7 customer support, segregation of Client funds, and, IRESS availability.
eToro
eToro is a popular and powerful Forex and CFDs broker. CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, and, the SIPC regulate it. Accounts offered are Standard, Professional, Islamic, and, Demo. Moreover, a Proprietary Trading Platform is available. The minimum deposit is 10 USD.
| 🔎 Broker | 🥇 eToro |
| 📈 Regulation and Licenses | CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC |
| 📉 Ease of Use | 5/5 |
| 📊 Support Hours | 24/5 |
| 💻 Trading Platforms | eToro platform |
| 💹 Account Types | Standard Retail Account |
| 💴 Base Currencies | USD |
| 🅰️ Spreads | From 1 pip EUR/USD |
| 🅱️ Leverage | 1:400 (eToro Seychelles Ltd) |
| 💶 Currency Pairs | 55; minor, major, exotic pairs |
| 💳 Minimum Deposit | From 10 USD (US) |
| 🚫 Inactivity Fee | 10 USD after 12 months of inactivity |
| 📌 Website Languages | English, Italian, German, etc. |
| 💰 Fees and Commissions | Spreads from 1 pip, zero commission fees |
| 🤝 Affiliate Program | ✅Yes |
| ✖️ Banned Countries | Canada, Japan, Brazil, Turkey, North Korea, Iran, Cuba, Albania, Serbia, Sudan, and Syria |
| 📈 Scalping | None |
| 📉 Hedging | ✅Yes |
| 📊 Trading Instruments | Forex, stocks, crypto (physical), crypto CFDs, indices, commodities, ETFs |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Social trading | Withdrawal Fee |
| Low trading fees | Inactivity fee |
| Negative balance protection | Conversion fees |
| User-friendly Platform | Single base currency |
Our Insights
The benefits of trading with eToro include vast educational resources and trusted customer support.
IG
IG is a well-established and trusted Forex and CFDs broker. FCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, and, the BMA regulate it. Accounts offered include an Options Trading Account, Turbo24 Trading Account, Share Dealing Account, and, Spread Betting Account.
The minimum deposit is 50 USD. Trading Platforms are MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, and, FIX API.
| 🔎Broker | 🥇IG |
| 📈 Regulation and Licenses | FCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
| 📉 Ease of Use | 4/5 |
| 📊 Support Hours | 24/7 |
| 💻 Trading Platforms | MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API |
| 💴 Base Currencies | USD |
| 📊 Spreads | From 0.1 pips DMA |
| 📌 Leverage | 1:222 (Pro), 1:30 (EU, UK, Retail) |
| 💸 Currency Pairs | 80+; major, minor, and exotic pairs |
| 💳 Minimum Deposit | From 50 USD (differs per region) |
| 🚫 Inactivity Fee | Yes, 12 USD after 2 years of inactivity |
| 📍 Website Languages | English |
| 💰 Fees and Commissions | Spreads from 0.1 pips, commissions from 0.10% |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Access to over 17,000 instruments across markets | Limitations on customer support hours |
| Investing opportunities for high-volume traders | Inactivity fees apply |
| Several advanced Trading platforms | IG is not available in all regions |
Our Insights
The benefits of trading with IG include guaranteed stop-loss orders, an extensive range of tradable assets, and various instructional resources.
XTB
XTB is a leading Forex Broker authorized by multiple top-tier financial authorities. Accounts offered are Standard, Swap-Free, and, Demo. A minimum deposit is not required.
Trading Platforms available are xStation 5 and xStation Mobile. XTB offers a variety of tradable assets, including FX pairs, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies.
| 🔍 Broker | 🥇 XTB |
| 💵 Minimum Deposit | 0 USD |
| 5️⃣ Ease of use Rating | 5/5 |
| 🎁 Bonuses | ✅ Yes |
| ⏰ Support Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Islamic Account | Inactivity fee |
| Free Deposit and Withdrawal | High conversion fee |
Our Insights
The benefits of trading with XTB include committed customer support, in-depth market research, and, narrow spreads on main currency pairs.
Admirals
Admirals is a powerful Forex and CFDs Broker. The FCA, ASIC, CySEC, JSC, FSCA, FSA, and, the CMA regulated it. Accounts offered are Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, and, Bets.MT5.
Moreover, an Islamic Account and Demo Option is offered. The minimum deposit is 25 USD. Trading Platforms include MetaTrader 4, MetaTrader 5, and, a proprietary trading app.
The following trading instruments and products are offered:
- 80+ currency pairings
- 42+ cryptocurrencies
- 29+ commodities
- 40+ indices are accessible for trading.
- Over 4,500 equities
- More than 400 ETFs
Additionally, Admirals offer trading on two bond CFDs.
| 🔑Broker | 🥇Admirals |
| 💴Minimum Deposit | 25 USD |
| 🎉Established Year | 2001 |
| ⏰Support Hours | 24/5 |
| 💻Trading Platforms | MetaTrader 4, MetaTrader 5, Admirals App |
| 📈Account Types | Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, Bets.MT5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Admirals has zero-pip spreads on certain accounts and instruments | Fractional share trading is not offered |
| There is a large range of financial instruments that can be traded, divided according to the region and regulation under which traders sign up | Inactivity fees apply |
| Admirals offers MetaTrader 4 and 5 across devices | Admirals does not offer a Cent Account |
| Traders can expect comprehensive educational material from Admirals | Admirals is a market maker, which means they serve as the counterparty in all deals. This might be a disadvantage for traders who wish to compete with other traders |
Our Insights
The benefits of trading with Admirals include multiple account options, access to over 50 currency pairings, and, trusted customer support.
XM
XM is a highly regulated Forex and CFDs Broker. The FSCA, IFSC, ASIC, CySEC, DFSA, and, the FCA regulate it. Accounts offered are Micro, Standard, Ultra-Low, Shares, Islamic, and, Demo. The minimum deposit is 5 USD.
Trading platforms include MetaTrader 4, MetaTrader 5, and, a proprietary trading platform. The following trading instruments and products are offered:
- 31 cryptocurrencies
- 1,337 stock CFDs
- 8 commodities
- 20 equity indices
- 5 precious metals
- 8 distinct energy commodities
Additionally, the platform provides direct access to 100 individual shares.
| 🔎 Broker | 🥇 XM |
| 💴 Minimum Deposit | $5 USD |
| 🎁 Bonus Offers | ✅Yes |
| 📈 Account Types | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| ⏰ Support Hours | 24/7 |
| 🆓 Demo Account | ✅Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low Minimum deposit | No social trading features available |
| Unlimited Demo Account | Inactivity Fees |
Our Insights
The benefits of trading with XM include comprehensive educational resources, Multilingual Customer support, and, an Ultra Low Account option.
Is Forex Trading legal in Ecuador?
Forex Trading is legal in Ecuador and governed by The Central Bank of Ecuador (BCE).
In Conclusion
Forex Trading is legal and governed in Ecuador. Moreover, multiple international Forex Brokers accept Ecuadorian Traders.
| 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 | CySEC, MISA, FSCA | 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 >> |
Our Insights
While reviewing the Best Forex Brokers that accept Ecuadorian Traders, we found 10 excellent options. Each broker has its list of Benefits, ranging from multiple account types to multilingual customer support. Finding the Best Forex Broker will depend on a trader’s individual trading needs.
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Frequently Asked Questions
Is Forex Trading Legal in Ecuador?
Trading Forex is Legal in Ecuador.
Who regulates forex in Ecuador (2024)?
The Central Bank of Ecuador (BCE).
Does IC Markets provide an Islamic Account?
IC Markets has an Islamic Account option that conforms with Sharia Law.
Does Tickmill offer commission-free accounts?
Tickmill offers commission-free accounts.
Can I use Moneta Markets in all countries?
Moneta Markets operates internationally. However, it is limited in certain areas due to regulatory constraints or local regulations.
Is the Pepperstone Website Multi-lingual?
The Pepperstone Website is available in English, Spanish, Russian, Chinese, Vietnamese, Arabic, Indonesian, Italian, French, Laotian, German, and Polish.
Does FP Markets offer Customer Support?
FP Markets provides 24/7 customer support.
Does eToro offer PAMM/MAM Accounts?
eToro provides PAMM Accounts.
Does IG offer guaranteed stop-loss orders?
IG provides guaranteed stop-loss orders.
Are my funds protected with XTB?
XTB protects customer funds via segregated accounts.
Can I trade cryptocurrencies with Admirals?
Admirals provide CFD trading on cryptocurrencies.
What kind of trading does XM specialize in?
XM specializes in forex and CFD trading.
Top 4 Brokers
