Best Forex Brokers in Colombia 2021
The forex market in Colombia was one of the best-received markets and as such is one of the fastest-growing segments in the financial sector. This means that there are hundreds of brokers to choose from. For a beginner, this can be quite intimidating, especially with so many brokers using lots of offers and promotions to attract customers. This article explores the very best brokers for Colombian traders.
The brokers below represent the best forex brokers for trading in Colombia.
| Broker | Official Site | Regulations | Min Deposit | Max Leverage | Trading Platforms | Foundation Year | Publicly Traded | Trading Desk Type | Currencies | Commodities | Indices | Stocks | Crypto | Commission on trades | Fixed spreads | offers promotions |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 | Visit Broker> DISCLAIMER: This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations. | ASIC, CySEC | $100 | 1:500 (ASIC), 1:500 (CySEC) | MT4, MT5, IRESS, WebTrader | 2005 | DMA, ECN, No dealing desk, STP | |||||||||
 | Visit Broker> Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions. | VFSC | $200 | 1:1000 (VFSC) | MT4, MT5, WebTrader | 2009 | No dealing desk | |||||||||
 | Visit Broker> 72% of retail CFD accounts lose money. | FCA, ASIC, CySEC, FSB, ISA, MAS | $100 | 1:30 (FCA), 1:30 (ASIC), 1:30 (CySEC), 1:30 (FSB), 1:30 (ISA), 1:30 (MAS) | Plus500 | 2008 | No dealing desk |
FP Markets
Regulated By:ASIC, CySEC
Foundation Year:2005
Headquarters:Australia
Min Deposit:$100
DISCLAIMER: This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.
FP Markets was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC), offering segregation of client funds and top tier liquidity. FP Markets is a group of companies that includes First Prudential Markets Ltd which is authorised and regulated by the Cyprus Securities and Exchange Commission.
FP Markets also offers a range of education and market analysis resources through the Traders Hub which includes technical analysis and fundamental analysis articles and videos, as well as, trading ebooks and video tutorials. Users can access live support via telephone, email and live chat 24 hours a day, 5 days a week.
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Vantage FX
Regulated By:VFSC
Foundation Year:2009
Headquarters:Vanuatu
Min Deposit:$200
Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.
Vantage FX was founded in 2009 in Australia and is the brand name of the Vantage International Group which is regulated by the Cayman Islands Monetary Authority (CIMA). The broker offers negative balance protection and the segregation of client funds which are held with Australia’s AA rated National Australia Bank (NAB).
The broker offers services that are designed for both beginner and professional traders with access to trade on 300+ financial CFD instruments covering Forex ECN, Indices, Precious Metals, Energies, Soft Commodities and Shares CFDs from the US, UK, EU, Australia and Hong Kong.
Through the broker’s three core types of trading accounts called Raw ECN, Standard STP and Pro ECN, users can access leverage of up to 500:1 with minimum deposits of just $200 and access to Islamic swap-free accounts and demo trading accounts. Bonus and promotions are also offered with a current 50% welcome bonus.
Users can trade from the globally-recognised MetaTrader 4 and MetaTrader 5 trading platform for desktop and web, as well as the broker’s own Vantage FX mobile trading app and various social trading platforms. The broker also offers 24/5 customer support in multiple languages and ProTrader Tools from Trading Central such as the Market Buzz, Featured Ideas, Analyst Views and an Economic Calendar, as well as ProTrader Tutorials which includes over 130+ video tutorials from Vantage FX.
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Plus500
Regulated By:FCA, ASIC, CySEC, FSB, ISA, MAS
Foundation Year:2008
Headquarters:Israel
Min Deposit:$100
72% of retail CFD accounts lose money.
Plus500 is a leading CFD trading platform with support for stocks, indices, cryptocurrencies, and Forex. This commission-free brokerage charges very low spread-rates and offers fast trades on a great platform. Plus500 supports complex trades.
You can start with a free demo account to test the platform and any trading strategy. Real money accounts offer leverage of up to 30:1. This broker is based in Israel and regulated by the Financial Conduct Authority (FCA) in the UK.
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General Regulation & Colombian Regulation
The most important thing to check is if the broker is regulated. Normally, it is not enough just to have any regulator, but to be regulated by the main and most trusted regulator in the country or region. In this case, brokers in Colombia need to have a license from the Ministry of Finance under the Financial Regulation and Financial Studies Unit (URF) which was established in 2013. Overall, it is important to find out if the broker is compliant with prevailing industry standards so that you are not disadvantaged when it comes to exploiting any fresh opportunities.
Trading Platform & Software
The trading platform is basically your workspace. Therefore it is of uttermost importance to make sure that you are satisfied with the platform and software that the broker is offering. The financial transaction aspect is also very important. This includes finding out if the broker has proper deposit and withdrawal systems, any fees and restrictions on transactions and also their spreads/commissions. The key things to look out for include how user-friendly the platform is, how many assets/instruments the broker offers and how quickly the broker executes your trade (both opening and closing). Look out for re-quotes and slippage of prices. The former is unacceptable as you may be forced to attempt executing a trade number of times before it is successful, while the latter should only be expected in times of extremely high volatility in the market.
Commissions & Spreads
Lots of brokers often pass unnecessary costs to their employees. Be sure to compare the ask and bid prices of the listed assets to make sure they are not such a big difference between them. Some brokers will disadvantage investors by refusing to fill their orders in order to profit from their losses.
Account Types
Does the broker offer a demo account? This is very important not only to beginners who need to learn and experience the trading environment before using real money but also to experienced traders who want to simulate and test their trading strategies before applying them in real accounts. Some brokers offer extra benefits for customers who deposit a certain amount of money. If this suits your investment plan, then you can request for these options. If you are Muslim, you have the option of going with a broker that offers Islamic accounts.
Customer Service
Find out if the broker has proper customer support channels and if their response rate is acceptable as per your standards. How responsive is the customer service team in case you need to speak to them? Do they offer live chatting, how soon do they respond to emails, during what hours will they pick up your call and do they offer support in your preferred language? Some brokers even offer a dedicated line that customers can call in case of financial issue. You can be sure there is nothing more frustrating than being unable to get assistance especially when your financial investment is at stake.
Additional Services
Some brokers offer additional services such as periodic analysis, trading signals, investor education in the form of webinars, live trading rooms and even dedicated account managers who will be on hand to assist you in case you need any help.
Conclusion
There isn’t a single yardstick that can be used to recommend brokers to investors because every investor has their own unique individual goals to achieve. However, the above factors are the most important to consider while choosing the best broker for you. Additionally, as we had mentioned, it is good practice to skim through forex forums to see if any particular broker has attracted more complaints than others. Of course, you can’t please everyone and so there have to be a few disgruntled customers in every business. However, if you find a pattern, seek further clarification from the regulator or avoid the broker altogether.
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