TOP 5 Forex Brokers in Colombia
If you live in Colombia and are looking for the best forex broker, you’ve come to the right place. Today I will provide you with a list of recommended brokers that offer the best trading conditions and a great trading platform. Each of the listed brokers has a free demo account that will allow you to start your adventure with forex without any risk. In the description you will find a link to each of the listed brokers.
Best for Newbies: XTB
Best for Copy Trading: eToro
Lowest Spread: IC Markets
As you can see, there is plenty to choose from. There are many more brokers on the market, but we decided to present you only the best ones. Remember to never choose unregulated brokers as there is a higher risk of being scammed.
It is a modern forex broker, which was established in 2002. The broker has been awarded many times for development and innovative technologies that make life easier for traders. The broker offers a great trading platform (xStation), which is available in the browser as well as on Android and iOS phones. The broker has no minimum deposit and the maximum leverage available in Europe is 1:30. We recommend this platform to everyone who is looking for a modern, experienced and trusted broker. The broker does not have a minimum deposit amount, but we suggest you deposit at least $400.
A very popular broker that has acquired over 5 million clients from 190 countries around the world since 2009. XM offers support in 30 languages and access to the latest investment technologies. The broker is famous for its fast execution of orders, which are executed in 99.35% in less than one second. There are no requotes on the platform, which means that once you close your position, you won’t be surprised by a change in the opening or closing price. XM offers 3 account types depending on how experienced a trader you are. The minimum deposit is $5, but we suggest you deposit at least $400.
It is one of the most popular and respected brokers in the world. The platform is famous for its extremely low spreads and gives users the opportunity to open an account under Australian jurisdiction. This means that if you live in Europe and are limited to a leverage of 1:30, you can open an account at your discretion under the jurisdiction of ASIC and get access to the full leverage of 1:500. This is especially helpful for people who don’t have a lot of capital and want to invest a few dollars per position. We recommend this broker to all people who are looking for a broker with high leverage or want to get the lowest possible spreads in the market. The minimum deposit is $200, which we believe is the perfect starting deposit.
This is a broker that puts a lot of emphasis on social trading. On the platform you will find very good investment conditions along with an extensive tool for copying profitable traders. All you have to do is open an account, make a deposit and you can start copying other traders. You have access to the full transaction history and can make an informed decision whether the trader you choose is worth copying or not. You will need a $200 minimum deposit to get started with this broker. We recommend eToro primarily to beginners who want to focus on copying other traders. The minimum deposit for most countries is $50, but we suggest you deposit at least $400 to start copying traders.
It is a great choice for novice traders who are completely unfamiliar with the terminology related to investing. If you have trouble understanding how position size is calculated, you don’t know what a pip is and how it all works, then IQ Option is a great choice for you. IQ Option, unlike the competition, offers a very simple interface in which you enter the amount of investment in dollars. The broker has a modern platform that will allow you to effectively analyze charts using indicators and ready-made strategies. More than 100 million clients around the world use the services of this broker. The minimum deposit is $10, but we suggest you deposit at least $200.
It is very hard to choose the perfect broker. In our opinion, XTB is the best platform available for people who are just starting their adventure with investing. You will find everything you need here along with a simple position size calculator. The broker has negative balance protection, so you can be sure that you won’t lose more money than you deposited. If you want to copy trades, choose eToro – there is no better platform that has such an extensive system of copying investors. If you care about tight spreads or an exotic (but safe) jurisdiction, then choose IC Markets.
Is forex legal in Colombia?
Yes! Completely. Forex is a very popular financial instrument in this country.
Which is the most popular forex broker in Colombia?
Is forex trading safe?
It depends. If you find the right broker, trading is safe. The question is is it risky? Definitely yes. Most forex traders lose money in the long run.