5 Best Forex Brokers in Peru
Last Update: March 14th, 2024
The 5 best Forex brokers in Peru revealed. We have explored and tested several prominent brokers to identify the 5 best.
In this in-depth guide you’ll learn:
- What is a Forex broker in Western South America?
- Who is the Best Suited Broker for Beginner Peru Traders?
- Is forex trading legal in Peru?
- Pros and cons of each broker.
- Popular FAQs about the best Forex brokers in Peru.
And lots more…
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 >> 🥈 
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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 for traders in Peru?
Forex brokers in Peru act as intermediaries, facilitating currency trading for local traders. These brokers provide platforms for buying and selling currencies, offering access to global markets and tools for analysis.
5 Best Forex Brokers in Peru (2024*)
- ☑️Exness – Award-Winning Broker in Western South America.
- ☑️Interactive Brokers – Best Mobile Trading Experience in Peru.
- ☑️eToro – High Peru Trust Score.
- ☑️Oanda – Lowest Costs in PEN.
- ☑️IC Markets – Best Broker in Western South America.
The 5 Best Forex Brokers in Peru
Below are our picks for the 5 best Forex brokers in Peru that offer excellent trading conditions and sound regulation.
5 Best Forex Brokers in Peru
👥 Brokers 👉 Open Account 💰 Minimum Deposit ⚖️ Regulators 📈 Minimum Spread 1. Exness 👉 Open Account Based on chosen regional deposit method FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA From 0.0 pips 2. Interactive Brokers 👉 Open Account There is no specific minimum deposit required SEC, CFTC, FCA, SEBI From 0.0 pips 3. eToro 👉 Open Account PEN189.70 or $50 CySEC, FCA From 0.9 pips 4. Oanda 👉 Open Account There is no specific minimum deposit required FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA, CFTC From 0.0 pips 5. IC Markets 👉 Open Account PEN758.79 in $200 ASIC, CySEC, FSA, SCB From 0.0 pips
Exness
Overview
Exness stands out as an attractive option for Forex traders in Peru seeking tight spreads and low costs.
Exness is renowned for its competitive spreads, which are consistently among the tightest in the industry. This is advantageous for traders as tighter spreads mean lower transaction costs, allowing them to retain more of their profits.
Exness offers a variety of account types, including Cent, Mini, and Classic accounts, catering to traders with different trading styles and capital requirements. These diverse account options enable
traders in Peru to choose the account type that best suits their needs while still benefiting from tight spreads and low costs.
Exness is known for its transparency and reliability. The broker operates with strict adherence to regulatory standards, providing traders in Peru with peace of mind regarding the safety of their funds and the integrity of their trading activities.
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 |
| Leverage can be changed by traders according to their trading style and risk tolerance. | Despite having a high degree of flexibility, some experts argue that the platform's trading tools and capabilities are inferior to those of other specialist platforms. Still, this picture only depicts a very small number of traders. |
| Traders can open a trial account to gain experience with virtual funds prior to making real investments. | Customer support professionals may experience periods of unavailability even with the best of intentions. Their responses can therefore differ in scope and calibre. |
| Exness has received recognition for offering total openness on all costs, spreads, and trading conditions. | In contrast to their rivals, some traders can be dissuaded from utilizing the UI due to its possible intricacy and sophistication. |
| Exness does not charge fees for withdrawals or deposits. | The fact that Exness only focuses on FX and CFDs may turn off prospective customers who are searching for a wider variety of investing options. |
| Options for local deposits and withdrawals are offered. | A high degree of leverage increases the risk of experiencing large losses. |
Trust Score
Exness has a trust score of 97%
Interactive Brokers
Overview
Interactive Brokers (IB) offers a sophisticated and advanced trading environment that appeals to traders in Peru for several reasons.
IB provides access to a vast array of global markets, including stocks, options, futures, forex, and more, allowing Peruvian traders to diversify their portfolios and capitalize on various opportunities.
IB’s trading platform is highly advanced, offering advanced charting tools, customizable trading algorithms, and comprehensive research resources. This sophisticated platform enables traders in Peru to execute complex trading strategies efficiently and effectively.
IB’s pricing structure is competitive, with low commissions and tight spreads, making it cost-effective for active traders in Peru to execute their trades.
IB offers extensive support for international traders, including multilingual customer service and a variety of account funding options, making it accessible and convenient for traders in Peru to engage in global markets.
Unique Features
| Feature | Information |
| ⚖️ Regulation | SEC, CFTC, FCA, IIROC |
| 💻 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 | Forex Metals Crypto Energies Indices Stocks |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | Facebook YouTube |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Interactive Brokers connects traders to a wide range of global markets, including equities, bonds, futures, currencies, and options, enabling them to diversify their portfolios across many asset classes. | New traders may struggle to grasp and use advanced trading platforms and tools. |
| Interactive Brokers' trading platforms, including as Trader Workstation (TWS) and IBKR Mobile, provide a wide range of analytical and execution options. | Despite their low prices, Interactive Brokers' fee structures can be perplexing for some traders due to the varying rates paid for different services and accounts. |
| Interactive Brokers provides straightforward pricing structures and competitive commission rates to active traders, particularly those with high volume, which may reduce overall trading costs. | Certain account types at Interactive Brokers have higher minimum balance requirements than other brokers, making it more difficult for traders with lower account balances to use the platform. |
| Interactive Brokers offers a wide range of research and analytical materials to help traders make sound investing decisions, including market commentary, technical analysis, fundamental data, and research papers. | Although Interactive Brokers offers customer care via phone, email, and live chat, some traders may find the service less personalized or attentive than that of smaller brokerages. |
| Interactive Brokers' risk management capabilities include portfolio margining, risk-based margining, and real-time margin computations, all of which help traders better manage and mitigate risk. | Compared to other brokers, Interactive Brokers may provide fewer lessons and educational resources, requiring new traders to seek additional guidance and information. |
Trust Score
Interactive Brokers has a trust score of 95%
eToro
Overview
eToro offers unique trading conditions that cater to traders in Peru, providing them with a user-friendly platform and a wide range of investment opportunities.
eToro’s standout feature is its social trading functionality, which allows Peruvian traders to interact with and replicate the trades of successful investors globally.
eToro offers commission-free trading on stocks and ETFs, making it cost-effective for traders in Peru to invest in these asset classes. The platform provides access to a variety of financial instruments, including cryptocurrencies, commodities, and forex pairs, enabling Peruvian traders to diversify their portfolios.
eToro’s intuitive interface and educational resources make it accessible for traders of all experience levels in Peru. However, it’s essential to note that eToro’s fees for forex trading can be relatively higher compared to other brokers.
Nonetheless, for those prioritizing social trading and access to a diverse range of assets, eToro remains a compelling option for traders in Peru.
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 | PEN189.70 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 revolutionary social trading platform enables users to interact with and replicate successful investors' decisions, increasing learning and perhaps improving trading performance. | eToro's research capabilities are fairly limited in comparison to other platforms, which may impede traders' ability to conduct in-depth analyses. |
| eToro provides a diverse variety of assets, including equities, cryptocurrencies, commodities, and FX pairings. | While eToro's spreads are competitive, they may be slightly higher than those offered by other brokers, which affects traders' trading costs. |
| eToro's basic design is simple to use, making it suitable for traders of all skill levels, including beginners. | The charting tools on eToro's platform are less robust than those available from other brokers, limiting traders' technical analysis abilities. |
| eToro provides CopyPortfolios, which are diversified investment portfolios managed by professionals and enable traders to invest in several assets with a single click. | eToro charges withdrawal fees and has low withdrawal limits, which may disadvantage traders in Colombia. |
Trust Score
eToro has a trust score of 90%
Oanda
Overview
Oanda stands out as an excellent option for traders in Peru seeking an innovative platform with a wealth of trading tools and features for several reasons.
Oanda provides access to a wide range of financial instruments, including forex, commodities, indices, and bonds, allowing traders in Peru to diversify their portfolios and capitalize on various market opportunities.
Oanda’s commitment to transparency and regulatory compliance ensures the safety and security of funds for traders in Peru, enhancing trust and confidence in the platform.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA, CFTC |
| 💻 Account Types | Standard Account Core Account Swap-Free Account Demo Account |
| 💵 Minimum Spread | From 0.0 pips |
| 💸 Minimum Deposit | There is no specific minimum deposit required |
| 📱 Platforms Supported | MetaTrader 4 OANDA Platform TradingView |
| 📈 Range of Markets | Index CFDs Forex Metals Commodity CFDs Bonds CFDs Precious Metals Real-time Rates |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | Facebook YouTube |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Oanda offers a highly innovative trading platform with advanced charting tools and customization options, providing traders with a comprehensive trading experience. | Compared to some other brokers, Oanda's educational resources may be relatively limited, which could be a drawback for traders seeking extensive learning materials. |
| Oanda provides access to a diverse range of financial instruments, including forex, commodities, indices, bonds, and cryptocurrencies, allowing traders to diversify their portfolios. | Oanda operates on a variable spread model, which means that spreads can widen during times of high market volatility, potentially impacting trading costs. |
| Oanda is known for its transparent pricing model, with competitive spreads and no hidden fees, ensuring that traders have a clear understanding of their trading costs. | While Oanda provides basic research tools, some traders may find the research offerings to be less comprehensive compared to other platforms. |
| Oanda offers advanced trading features such as custom trade parameters, advanced order types, and risk management tools, empowering traders to execute their strategies effectively. | Oanda does not offer fixed deposit bonuses, which may be a downside for traders looking for promotional incentives. |
| Oanda is regulated by top-tier authorities such as the CFTC and FCA, ensuring the safety and security of traders' funds and fostering trust in the platform. | Oanda offers a limited selection of account types, which may not cater to the diverse needs of all traders, especially those with specific requirements. |
Trust Score
Oanda has a trust score of 91%
IC Markets
Overview
IC Markets presents an appealing option for ECN traders in Peru due to several key factors.
IC Markets is renowned for its Electronic Communication Network (ECN) execution model, which provides traders with direct access to liquidity providers, resulting in tight spreads and fast execution speeds.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, CySEC, FSA, SCB |
| 💻 Account Types | cTrader Account, Raw Spread Account, Standard Account. |
| 💵 Minimum Spread | From 0.0 pips |
| 💸 Minimum Deposit | PEN758.79 in $200 |
| 📱 Platforms Supported | MetaTrader 4 MetaTrader 5 cTrader IC Social Signal Start ZuluTrade |
| 📈 Range of Markets | Forex Commodities Indices Bonds Cryptocurrencies Stocks Futures |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | LinkedIn YouTube |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| IC Markets' Raw Spread accounts provide low spreads, which attracts traders searching for low-cost trading. | A comparison with other brokers may reveal that IC Markets' educational materials are limited, hindering the growth of novice traders in their quest for knowledge. |
| IC Markets promotes social trading through its partnership with ZuluTrade, allowing users to see and replicate successful traders' techniques. | Novice traders may struggle with the extensive features and capabilities provided by IC Markets, necessitating some modification before fully exploiting them. |
| IC Markets offers a comprehensive selection of trading products, including FX pairings, indices, commodities, and cryptocurrencies, to meet a variety of trading needs. | Although IC Markets provides customer service, certain consumers may be dissatisfied due to variations in service quality and timeliness. |
| The broker offers many account kinds, including standard and raw spread accounts, allowing clients to select the one that best fits their trading style and personal preferences. | There have been reports of issues or delays with the withdrawal process at IC Markets. |
Trust Score
IC Markets has a trust score of 86%
Conclusion
Overall, trading Forex in Peru with Forex brokers offers Peruvian traders access to global markets, diverse financial instruments, and innovative trading platforms. While each broker presents unique advantages and considerations, informed decision-making can empower traders to navigate the complexities of Forex trading effectively and pursue their financial goals.
Frequently Asked Questions
What are the trading hours for the Forex market in Peru?
The Forex market operates 24 hours a day, five days a week, with trading sessions in major financial centers around the world, including London, New York, Tokyo, and Sydney.
Should I trade Forex full-time or part-time?
Whether you choose to trade Forex full-time or part-time depends on your circumstances, risk tolerance, and trading goals. Many traders in Peru start part-time while maintaining other sources of income.
How do I get started with Forex trading in Peru?
To begin Forex trading in Peru, you need to open an account with a reputable Forex broker, conduct research, and develop a trading strategy.
Which Forex broker should I choose in Peru?
Choose a Forex broker that is regulated, offers competitive spreads, provides a user-friendly platform, and offers excellent customer support.
What is a Forex demo account?
A Forex demo account is a practice account that allows you to trade with virtual money. It’s recommended for beginners in Peru to use a demo account to practice trading strategies without risking real money.
Top 4 Brokers
