The Best Forex Brokers for Latin America 2025 (LATAM)
The global reach of forex trading is expanding every year and previously subdued regions like Latin America (LATAM) have begun to emerge, developing into important financial hubs. This has led to a rise in the number of brokerages setting up in countries such as Mexico, Brazil, Chile, and Argentina as they rush to meet the increased demand.
To help traders find the Best Forex Brokers in LATAM for 2025, we’ve put together a clear and easy to understand top list, outlining the key features and score breakdowns of each broker.
Using our proprietary FX Trust Score Index – the industry’s most comprehensive scoring mechanism for rating forex brokers – we assigned a final score before ranking the Top Forex Brokers in LATAM in our leaderboard. Our team of experts analysed dozens of brokers before deciding on the companies which outperformed their competitors across a range of metrics, including available instruments, trading platform options, fund safety, customer support and more.
One key aspect we investigated closely was how each broker fared in terms of localisation, particularly regarding the availability of local payment methods for LATAM traders. Only reputable and regulated companies with the most competitive trading conditions made the final list of the Most Trusted Forex Brokers in Latin America. Take a look below:
Best LATAM Brokers Leaderboard
Xlence
Rating: 4.65 / 5
Wide Range of Asset Types Transparency of Fees User-Friendly Experience Extensive Trading Courses Generous LATAM Promotions 24/5 Multilingual Support
Vantage
Rating: 4.5 / 5
1,000+ Instruments Advanced Trading Tools Impressive Academy Section Customisable Leverage Regular LATAM Promotions 24/7 Customer Support
*Trading carries a risk of loss
eightcap
Rating: 4.4 / 5
800+ Instruments Multiple Tier 1 Licences LATAM YouTube Channel Strong Education Section TradingView Charting
*Trading carries a risk of loss
XM
Rating: 4.3 / 5
1,400+ Instruments Monthly Competitions 4K+ Copy Trade Strategies 24/7 Customer Support
Deriv
Rating: 4.1 / 5
500+ Instruments Wide Choice of Platforms CFD and Options Trading 24/7 Customer Support
Score Breakdown
See the review ratings breakdown for the Best Forex Brokers in Latin America (LATAM) for 2025 and how each performed across six important criteria featured in our FX Trust Score Index.
| Regulatory Compliance | Security & Fund Protection | ||
| Eightcap | 5/5 | Eightcap | 5/5 |
| Vantage | 5/5 | Vantage | 5/5 |
| Deriv | 4/5 | Xlence | 5/5 |
| Xlence | 4/5 | Deriv | 4/5 |
| XM | 4/5 | XM | 4/5 |
| Customer Support | Localisation | ||
| Deriv | 5/5 | XM | 5/5 |
| Vantage | 5/5 | Deriv | 4/5 |
| XM | 5/5 | Vantage | 4/5 |
| Eightcap | 4/5 | Xlence | 4/5 |
| Xlence | 4/5 | XM | 4/5 |
| Local Payment Methods | Online Reputation | ||
| Deriv | 4/5 | Xlence | 5/5 |
| Eightcap | 4/5 | Deriv | 4/5 |
| Vantage | 4/5 | Eightcap | 4/5 |
| Xlence | 4/5 | Vantage | 4/5 |
| XM | 4/5 | XM | 4/5 |
*Where scores are tied, brokers are listed in alphabetical order.
Broker Review Rating Comparison
Marks out of 5 stars
Xlence rating 4.65 / 5
Vantage rating 4.5 / 5
eightcap rating 4.5 / 5
XM rating 4.3 / 5
Deriv rating 4.3 / 5
The FXTS Verdict
Xlence was awarded Best Forex Broker in LATAM for 2025, receiving the highest broker ratings and performing consistently well against the assessed criteria above. The broker scored highly on a range of different aspects, including its security and fund protection measures, varied account options, fee transparency, and its strong overall online reputation among traders. Xlence features regular, generous LATAM-specific promotions and bonuses and provides a wide array of account funding methods. Based on our analysis, we found the trading experience to be user-friendly, with the menus being easy-to-navigate and the product information clearly set out on the company’s website.
Vantage finished as the runner-up, receiving high marks for its advanced trading tools, regular local promotions, and LATAM-specific social media channels. As for the others, Eightcap’s Spanish-speaking LATAM traders are well served by the broker’s regularly updated YouTube channel and its ‘Eightcap Labs’ education section. XM offers access to the most markets, with more than 1,400 instruments available to trade, while Deriv provides local traders with both CFD and options trading across multiple account types.
How did we choose the Best Forex Brokers in LATAM for 2025?
We started our research into the Best Forex Brokers in LATAM for 2025 by only taking into account fully licensed and regulated companies during the initial fact-finding process. This first step is very important as it ensures traders are presented with brokers that meet the highest regulatory standards (fund security, fee transparency, and competitive pricing). We then narrowed our focus to brokers with an established presence across several Latin American countries, ensuring traders can be confident they operate in the region before opening an account.
After this, we visited the websites of each shortlisted broker, examining their product offerings and unique selling points (USPs) in detail before moving on to the next stage, where the analysis became much more rigorous. Using our unique FX Trust Score Index, we were able to evaluate the chosen brokers across six key criteria, ranking them in terms of regulatory compliance, security and fund protection, customer support, localisation, local payment methods and online reputation. Once this process was complete and the calculated ratings were tallied up, we assigned an overall ranking score for the brokers that made the final leaderboard.
FAQs
There are 20 countries in Latin America. Spanish is the official language of a majority of these nations, except for Brazil (Portuguese) and Haiti (French). The full list of Latin American countries is as follows: Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay and Venezuela.
The best brokers in Latin America (LATAM) are licensed and regulated by reputable authorities. Traders who choose to open an account with an unlicensed broker are potentially putting their funds at risk, as these companies are not subject to strict governance and security protocols from a regulator. To check out the list of the best forex brokers in LATAM, simply scroll up to check the final FX Trust Score leaderboard.
Find a reputable broker that is licensed to operate in Latin America. The key factor to consider before trading forex in Latin America is ensuring that the broker is regulated by a respected local authority such as CNBV (Mexico), CVM (Brazil), CMF (Chile), or an recognised international body like the FCA (United Kingdom) or ASIC (Australia). Once this has been established, the next step is to check the all-important details like the trading conditions offered, available local payment methods, and the range of trading platforms provided.
Several leading forex brokers have offices in Mexico City (Mexico) and Santiago (Chile). Mexico City has developed a reputation as a focal point for forex activity in Latin America, thanks to its status as the financial capital of the region’s second-largest economy. Similarly, Santiago has gained recognition as a growing financial centre, supported by Chile’s strategic geographical position. As Latin America grows into a key financial hub, an increasing number of forex brokers are expected to establish physical offices in major cities throughout the region.
The United States. Thanks to its close proximity to the countries of Latin America (LATAM), particularly with neighbouring Mexico, the United States is currently the region’s largest trading partner. The vast majority of imports and exports to and from LATAM countries involve the US. In second place on the list is China, which has been steadily growing its trading relationship with LATAM, gradually narrowing the gap to the US in recent years.
Latin America is home to a growing number of forex brokers. It’s difficult to put an exact figure on how many brokers are operating in the LATAM region, but each year more global forex companies are establishing offices in major cities like Mexico City in Mexico and Santiago in Chile. Added to this, the capital city of Argentina, Buenos Aires, and Brazilian financial hub São Paulo are both increasing in popularity, with a host of financial firms, including several forex brokerages, expanding their presence there.
Xlence broker was reviewed and rated together with four other shortlisted forex brokers, using our FX Trust Score Index, where we assign scores based on six key criteria. Xlence received the highest aggregated score and therefore takes the lead on our Best Forex Brokers LATAM 2025 leaderboard.
Publication date:
31/05/2024
Author: FX Trust Score
Last updated on April 15, 2025
