Best Forex Brokers in Argentina of 2023

CFD trading is rapidly gaining popularity in Argentina as numerous brokers are expanding their services to clients in the country.

Forex trading is permissible and regulated in Argentina, overseen by the National Securities Commission (CNV). The CNV primarily focuses on the requirements of institutional investors and businesses. Nevertheless, retail traders have the opportunity to open accounts with global brokers.

Selecting an appropriate broker is a crucial step to financial success. Traders should carefully assess several key factors, including regulation, fees, available instruments, and trading platforms, among others. With over a decade of experience in reviewing forex brokers, FX Empire is an established industry leader. Using our unique evaluation methodology, which includes an analysis of over 250 factors across nine crucial categories, we assist you in discovering the most suitable forex brokers to align with your trading aspirations.

Considering the different needs of traders, we have broken down this list into five primary categories.

List Of Top Forex Brokers and Trading Platforms in Argentina

• IC Markets — Best Overall
  Spanish version of the website. MT4, MT5, and cTrader. AutoChartist, Trading Central. 1,700+ tradable instruments. Low fees.
• Errante — Best for Professional Traders
  Spanish version of the website. Competitive spreads. MAM/PAMM available. 1-million Euro insurance program. Multiple account types.
• TMGM — Best MT4
  Spanish version of the website. MT4. Automated trading, HUBx, Trading Central. Wide range of account types. Competitive fees.
• Vantage — Best Low Spreads
  Spanish version of the website. Low spreads. No subscription, account maintenance, or inactivity fees. Free VPS hosting. Tools for algorithmic trading. Wide range of platforms.
• FXTM — Best for Beginners
  Spanish version of the website. Micro and Demo Accounts. Wide selection of educational materials. Dedicated account representative.

How Did FX Empire Select The Best Brokers In Argentina?

To choose the best brokers in Argentina, we used the FX Empire’s 250-point rating system to identify the leaders in each category. We focused on the following key features:

• We selected trustworthy and transparent brokers.
• We prioritized brokers with top-tier regulations.
• We focused on brokers that offer low fees.
• We preferred brokers that have user-friendly and feature-rich platforms.
• We listed brokers that provide localization in terms of the website and customer support language, as well as payment methods.
• We prioritized brokers that provide bonuses and promotions for Argentinian clients.

Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. I subsequently used my 16 years of forex trading experience to examine and analyze all our findings, resulting in the selection of the best brokers for Argentinian traders across various categories. You can read more about it and how we conduct our tests here.

Now, let’s explore the selected brokers.

How To Choose the Best Forex Broker In Argentina?

Use our guide to choose the forex broker in Argentina according to your trading goals.

How to choose a safe broker as an Argentina-based trader?

The process of choosing a broker begins with learning where your potential broker is regulated. Argentina-based traders have access to the global entities of brokers, which are typically regulated by offshore regulators.

These regulators often do not impose strict limits on leverage, allowing traders to access high levels of leverage. However, you should be aware that compensation schemes may not be available. Consequently, if a broker faces financial difficulties, traders will have to navigate the situation independently.

You can check a comprehensive list of reliable brokers by jurisdiction here.

What fees should you focus on when choosing the broker?

Typically, brokers charge spreads, commissions, swap/rollover fees, and inactivity fees.

• The spread is the difference between the bid and the ask price. The higher the spread, the more you pay for the trade. In our rating system, we deem spreads below 1 pip for EUR/USD and 3 pips for GBP/JPY to be low. See our guide for the best forex brokers with lowest spreads for more professional tips and insights.
• A commission is a fixed cost of entering the trade. Accounts that charge commissions usually offer lower spreads. For example, commissions below $3 for forex pairs and gold are considered low.
• A swap/rollover fee is charged when you hold a leveraged position overnight. Traders should pay extra attention to these fees if they plan to use swing trading strategies, which involve holding positions for several days or even weeks. A swap rate below 0.5 pips for forex pairs is considered favourable.
• An inactivity fee is imposed by the broker if your account remains inactive for a certain period. In this case, a certain amount of money is charged on a monthly basis. An inactivity fee below $10 is considered to be low.

How to choose the right account for trading in Argentina?

As an Argentina-based trader, you should understand the difference between various types of accounts.

• Demo accounts are used for practice without risking real money. Such accounts are highly recommended for novice traders making their first steps in trading. You can find brokers with the best demo account offering here.
• Spread-based accounts typically charge spreads and swap/rollover fees. These accounts usually represent a good choice for traders whose trading volume is expected to be relatively modest.
• Commission-based accounts charge commissions in addition to spreads and swap/rollover fees. Typically, such accounts offer tighter spreads. They are suitable for traders who anticipate a high volume of trading.
• On Islamic accounts, swap/rollover fees are not charged to insure compliance with Sharia law.
• Professional accounts usually have a high minimum deposit and offer access to high leverage that most professional traders are looking for.

How to choose a trading platform in Argentina?

Typically, most brokers offer access to MetaTrader 4 and/or MetaTrader 5. Those are sophisticated platforms with a variety of tools tailored mainly for experienced traders, hence beginners may need to spend some time learning the ropes.

Some brokers have also developed their own in-house trading platforms. These platforms are usually tailored to the needs of traders at various experience levels. They are easy to navigate and simple to use.

The choice of trading platform largely depends on personal preferences and trading experience. In my opinion, for novice traders it’s better to start with a user-friendly platform or a mobile app, whereas experienced traders often prefer MT4/MT5.

Read more about each trading platform in our detailed guides on the best MT4 and best MT5 forex brokers.

What leverage is available for traders in Argentina?

Leverage provides traders with the opportunity to boost their profits through the use of borrowed funds. The higher the leverage, the greater your potential profits may be. However, leverage can be a double-edged sword, as it can also magnify potential losses. Thus, I would advise beginners to start with low levels of leverage to avoid the risk of substantial losses.

The maximum potential leverage a broker can offer is determined by the regulator. As Argentina-based traders have access to broker’s global entities, they will engage with offshore regulators that do not impose specific limits on leverage for retail clients. Thus, the leverage can be as high as 1:2000. Note, that it’s necessary to consider your risk tolerance and trading strategy before engaging in high-leverage trading. Additionally, traders should be aware that offshore regulators offer fewer protections.

What to avoid when choosing a broker in Argentina?

Based on my trading experience, I have outlined the five things to avoid when choosing a broker in Argentina:

• Neglecting to verify regulatory compliance.
• Overlooking broker fees, such as spreads, commissions, and swap rates.
• Selecting an account type that does not align with your requirements.
• Skipping to review the range of instruments provided by the broker.
• Avoiding straight communication with the support team before opening an account.

How to avoid forex scams?

To safeguard yourself against forex scams, follow these essential guidelines:

• Do your research and choose a reputable broker: Conduct thorough research to identify a broker with a solid reputation and a history of regulatory compliance. Verify its credentials and look for reviews or testimonials from reliable sources.
• Check the regulatory status: Ensure that the broker you selected is regulated by a recognized financial authority. This oversight provides a decent level of protection and ensures adherence to industry standards.
• Be cautious of unrealistic promises: Beware of brokers or investment schemes that promise guaranteed high returns or low-risk opportunities. Forex trading involves inherent risks, and legitimate brokers will not make unrealistic claims.
• Avoid unregulated entities: Steer clear of unregulated brokers or those operating from offshore jurisdictions with weak regulations. Regulatory oversight helps protect your funds and ensures fair trading practices.
• Understand the terms and conditions: Read and comprehend the broker’s terms and conditions, including fee structures, withdrawal policies, and any potential hidden costs. Beware of brokers that make it difficult to access or withdraw your funds.
• Use secure payment methods: Choose reputable payment methods that offer additional security layers, such as bank transfers or established electronic payment systems. Avoid dealing with brokers that solely accept cryptocurrency or other non-traceable forms of payment.
• Stay informed and educated: Continuously educate yourself about forex trading and stay updated on market trends and news. This knowledge will empower you to make informed decisions and identify potential scams.
• Trust your instincts: If something seems too good to be true or raises suspicions, trust your gut instinct and exercise caution. Take time to seek advice from trusted financial professionals or consult with experienced traders before making any decisions.

Our Methodology

FX Empire, with a history dating back to 2010, has established itself as a reputable authority in broker reviews. Our extensive experience in evaluating CFD brokers, spanning over a decade, has led us to develop a meticulous and comprehensive review strategy. Adhering to stringent guidelines for editorial integrity, we consistently uphold our commitment to deliver unbiased evaluations.

We follow a diligent protocol for our review process, integrating objective criteria and quantifiable data. This methodical approach allows us to generate a justified score that accurately reflects the performance of a broker. Our mission is to provide traders with a thorough and unbiased review, empowering you to make well-informed decisions aligned with your specific needs.

To choose the best brokers for you, we rate them across nine categories and calculate a score that reflects their performance.

The categories include:

• Trust and Stability
• Fees
• Platform and Tools
• Tradable Instruments
• Account Types
• Deposit and Withdrawal
• Research
• Customer Support
• Education

We open accounts, test platforms, measure spreads, and chat with support teams to collect as much data as we can for each broker. Overall, we evaluate brokers based on more than 250 distinct data points. Every category receives a rating from one star (weak) to five stars (excellent). The broker’s total score depends on its performance in each of these nine categories.

We highlight each broker’s strengths and weaknesses, explain regulatory details, and share the results of our live tests of brokers’ fees, customer support, and trading platforms. To learn more about our review process, click here.

In this article, I focused on forex brokers that are best suited for Argentinian traders. I have given priority to brokers offering specific features, such as customer support and website accessibility in the Spanish language, the availability of local deposit and withdrawal methods, as well as bonuses and promotions tailored to Argentinian clients.

Meet our Writers

The team of forex and CFD writers and editors at FX Empire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

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