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10 Best Forex Brokers in Ecuador

Last Update: June 26th, 2024

Forex Brokers Ecuador

 

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

 

10 Best Forex Brokers in Ecuador – a Comparison

🔎 Broker🚀Open an Account🤝 Accepts Ecuadorians💶 Min. Deposit
🥇 IC Markets👉 Click Here✅Yes200 USD
🥈 Tickmill👉 Click Here✅Yes100 USD
🥉 Moneta Markets👉 Click Here✅Yes50 USD
🏅 Pepperstone👉 Click Here✅YesAU$200
🎖️ FP Markets👉 Click Here✅YesAU$100
🥇 eToro👉 Click Here✅Yes10 USD
🥈 IG👉 Click Here✅Yes50 USD
🥉 XTB👉 Click Here✅YesNone
🏅 Admirals👉 Click Here✅Yes25 USD
🎖️ XM👉 Click Here✅Yes5 USD

 

10 Best Forex Brokers in Ecuador (2024)

  1. ☑️ IC Markets – Overall, the Best Forex Broker in Ecuador
  2. ☑️ Tickmill – The Best Forex Broker for Foreigners
  3. ☑️ Moneta Markets – Top Forex Broker for Beginners
  4. ☑️ Pepperstone – Excellent all-round offering
  5. ☑️ FP Markets – Leading MetaTrader 4, MetaTrader 5, and, cTrader Broker
  6. ☑️ eToro – Best Broker for Copy and Crypto Trading
  7. ☑️ IG – Over 80 Forex Pairs + Competitive spreads
  8. ☑️ XTB – Best Forex Broker for Low Costs
  9. ☑️ Admirals – Excellent Education and Research Tools
  10. ☑️ XM – High User Trust Score

 

IC Markets Review

 

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 Deposit200 USD
💵 Inactivity FeeNone
📌 Regulation and LicensesASIC, CySEC, FSA, SCB
5️⃣ Ease of Use Rating5/5
🎁 BonusesNone
⏰ Support Hours24/7
🚀 Open an Account👉 Click Here

 

IC Markets

 

Pros and Cons

✅Pros❌Cons
Affordable forex and CFD trading costsHigh minimum deposit requirement
Comprehensive education and researchNo investor protection for non-EU customers

 

Our Insights

Trading with IC Markets offers the benefits of a proprietary social trading platform, educational resources, and trusted customer support.

 

Tickmill Review

 

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 FeeNone
📈 SpreadsFrom 0.0 pips on the Pro and VIP Accounts
📉 Leverage1:500
💶 Currency Pairs62, major, minor, and exotic pairs
📊 Scalping✅Yes
💹 Hedging✅Yes
🖱️ Trading PlatformsMetaTrader 4, MetaTrader 5, Tickmill App
⏰ Support Hours24/5
🚀 Open an Account
👉 Click Here

 

Tickmill Overview

 

Pros and Cons

✅ Pros❌ Cons
MetaTrader 4 and MetaTrader 5Limited range of instruments
Pro account with minimal commissionsLimited Trading Platforms

 

Our Insights

The benefits of Trading with Tickmill include cost-effectiveness, tight spreads, and a Low-commission structure.

 

Moneta Markets Review

 

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 Year2019
📉 Regulation and LicensesFSCA, FSA Seychelles, CIMA, ASIC
📊 Ease of Use Rating4/5
🎁 Bonuses✅Yes
⏰ Support Hours24/5
🖱️ Trading PlatformsPRO Trader, App Trader, MetaTrader 4, MetaTrader 5, CopyTrader App
📌 Account TypesDirect STP, Prime ECN, Ultra ECN
💴 Base CurrenciesAUD, USD, GBP, EUR, SGD, CAD, NZD, JPY, HKD, BRL
📍 SpreadsFrom 0.0 pips
💹 Leverage1:1000
💵 Currency Pairs44; major, minor, and exotic pairs
💶 Minimum Deposit50 USD
💷 Inactivity FeeNone
🚀 Open an Account👉 Click Here

 

Moneta Markets Review

 

Pros and Cons

✅ Pros❌ Cons
1,000+ tradable assets, including forexSome account types may have volume constraints
Multilingual supportLimited Education

 

Our Insights

The benefits of trading with Moneta Markets include more than 1,000 tradable assets, Multilingual Customer Support, and, competitive spreads.

 

Pepperstone Review

 

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 DepositAU$200
📈 Account TypesStandard Account, Razor Account
💵 Base CurrenciesUSD, GBP
📉 SpreadsFrom 0.0 pips EUR/USD on the Razor Account
📊 Leverage1:500 (Pro), 1:200 (Retail)
💶 Currency Pairs70, minor, major, and exotic pairs
🚀 Open an Account
👉 Click Here

 

Pepperstone

 

Pros and Cons

✅ Pros❌ Cons
Pepperstone provides responsive and friendly customer service that is available 24/7While trading fees are low, the costs of holding positions overnight can be significant
Traders are not charged for account inactivityTransfers: International bank transfers have a $20 fee
There is a lot of educational content available to traders of all skill levelsThe variety of platforms and advanced technologies can be overwhelming for novices
New users should expect a quick and easy account setup processPepperstone 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 PepperstoneSome 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

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 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 DepositAU$100
💵 Inactivity FeeNone
📈 SpreadsFrom 0.0 pips
📉 Leverage1:500
💶 Currency PairsMajor, Minor, Exotic
📌 RegulationsASIC, CySEC, FSCA, FSA, FSC
5️⃣ Ease of Use Rating4/5
🎁 BonusesNone
⏰ Support Hours24/7
🚀 Open an Account👉 Click Here

 

FP Markets

 

Pros and Cons

✅ Pros❌ Cons
FP Markets is regulated in several regionsThere are limited instruments offered
MetaTrader, cTrader, and IRESS are availableresearch tools are not extensive
Tight Spreads Withdrawal fees apply
There are low forex feesNo 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 Review

 

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 LicensesCySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC
📉 Ease of Use5/5
📊 Support Hours24/5
💻 Trading PlatformseToro platform
💹 Account TypesStandard Retail Account
💴 Base CurrenciesUSD
🅰️ SpreadsFrom 1 pip EUR/USD
🅱️ Leverage1:400 (eToro Seychelles Ltd)
💶 Currency Pairs55; minor, major, exotic pairs
💳 Minimum DepositFrom 10 USD (US)
🚫 Inactivity Fee10 USD after 12 months of inactivity
📌 Website LanguagesEnglish, Italian, German, etc.
💰 Fees and CommissionsSpreads from 1 pip, zero commission fees
🤝 Affiliate Program✅Yes
✖️ Banned CountriesCanada, Japan, Brazil, Turkey, North Korea, Iran, Cuba, Albania, Serbia, Sudan, and Syria
📈 ScalpingNone
📉 Hedging✅Yes
📊 Trading InstrumentsForex, stocks, crypto (physical), crypto CFDs, indices, commodities, ETFs
🚀Open an Account👉 Click Here

 

eToro Overview

 

Pros and Cons

✅ Pros❌ Cons
Social tradingWithdrawal Fee
Low trading feesInactivity fee
Negative balance protectionConversion fees
User-friendly PlatformSingle base currency

 

Our Insights

The benefits of trading with eToro include vast educational resources and trusted customer support.

 

IG Review

 

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 LicensesFCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA
📉 Ease of Use4/5
📊 Support Hours24/7
💻 Trading PlatformsMetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API
💴 Base CurrenciesUSD
📊 SpreadsFrom 0.1 pips DMA
📌 Leverage1:222 (Pro), 1:30 (EU, UK, Retail)
💸 Currency Pairs80+; major, minor, and exotic pairs
💳 Minimum DepositFrom 50 USD (differs per region)
🚫 Inactivity FeeYes, 12 USD after 2 years of inactivity
📍 Website LanguagesEnglish
💰 Fees and CommissionsSpreads from 0.1 pips, commissions from 0.10%
🚀Open an Account👉 Click Here

 

IG Markets

 

Pros and Cons

✅ Pros❌ Cons
Access to over 17,000 instruments across marketsLimitations on customer support hours
Investing opportunities for high-volume tradersInactivity fees apply
Several advanced Trading platformsIG 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 Review

 

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 Deposit0 USD
5️⃣ Ease of use Rating 5/5
🎁 Bonuses✅ Yes
⏰ Support Hours24/5
🚀 Open an Account👉 Click Here

 

XTB

 

Pros and Cons

✅ Pros❌ Cons
Islamic AccountInactivity fee
Free Deposit and WithdrawalHigh 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 Review

 

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 Deposit25 USD
🎉Established Year2001
⏰Support Hours24/5
💻Trading PlatformsMetaTrader 4, MetaTrader 5, Admirals App
📈Account TypesTrade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, Bets.MT5
🚀 Open an Account
👉 Click Here

 

Admirals

 

Pros and Cons

✅ Pros❌ Cons
Admirals has zero-pip spreads on certain accounts and instrumentsFractional 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 upInactivity fees apply
Admirals offers MetaTrader 4 and 5 across devicesAdmirals does not offer a Cent Account
Traders can expect comprehensive educational material from AdmiralsAdmirals 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 Review

 

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 TypesMicro Account, Standard Account, XM Ultra-Low Account, Shares Account
⏰ Support Hours24/7
🆓 Demo Account✅Yes
🚀 Open an Account
👉 Click Here

 

XM Overview

 

Pros and Cons

✅ Pros❌ Cons
Low Minimum depositNo social trading features available
Unlimited Demo AccountInactivity Fees

 

Our Insights

The benefits of trading with XM include comprehensive educational resources, Multilingual Customer support, and, an Ultra Low Account option.

 

Forex in Ecuador

 

Is Forex Trading legal in Ecuador?

Forex Trading is legal in Ecuador and governed by The Central Bank of Ecuador (BCE).

 

Is Forex Trading legal in Ecuador?

 

In Conclusion

Forex Trading is legal and governed in Ecuador. Moreover, multiple international Forex Brokers accept Ecuadorian Traders.

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 >>

 

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.

 

You might also like:

IC Markets Review

Tickmill Review

Moneta Markets Review

Pepperstone Review

FP Markets Review

FAQs

XM specializes in forex and CFD trading.

Admirals provide CFD trading on cryptocurrencies.

XTB protects customer funds via segregated accounts.

IG provides guaranteed stop-loss orders.

FP Markets provides 24/7 customer support.

The Pepperstone Website is available in English, Spanish, Russian, Chinese, Vietnamese, Arabic, Indonesian, Italian, French, Laotian, German, and Polish.

Moneta Markets operates internationally. However, it is limited in certain areas due to regulatory constraints or local regulations.

Tickmill offers commission-free accounts.

IC Markets has an Islamic Account option that conforms to Sharia law.

The Central Bank of Ecuador (BCE)

Trading Forex is Legal in Ecuador.

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