For our readers in Colombia, I have searched several brokers that allow Colombian-based traders. I tested brokers to look for the best trading fees and costs, best platforms, and the availability of Spanish customer support, as well as a Spanish-language website. Other things I looked for were local-friendly payment options and strong extras such as educational material and market research.
After all of these factors are considered, the proprietary scoring system that we use at FXEmpire allowed me to bring this list down to 6, all of which have met our exacting standards.
*AvaTrade doesn’t allow CFD trading in Spain; only Futures are available.
Our team of experts has identified each broker’s strengths and weaknesses using FXEmpire’s comprehensive methodology.
Now, let’s explore the selected brokers.
Founded in 2008, Exness offers a wide range of markets for trading. Forex, indices, crypto, stocks, and commodities are all offered. Exness is regulated by several globally recognized regulatory bodies.
Regional Features:Â
Exness Terminal and Mobile App, as well as the MetaTrader 4 and MetaTrader 5 platforms, are all available for trading and allow access to over 200 markets. The fees are low, and the ability to switch between so many classes of assets allows traders to take advantage of global trading in general.
Exness allows several deposit and withdrawal methods. This includes cryptocurrencies, bank wire, credit/debit cards, and e-wallets. There is also free access to VPS hosting, as well as access to Trading Central trading signals.Â
Live testing showed that Exness has competitive fees. I chose the Standard account, which had spreads in the EUR/USD pair ranging from 0.8 pips to 1.0 pip. The spreads for the GBP/JPY pair averaged 2.0 pips. Some of the other highlights were spreads in Apple at $0.09 and Tesla at $0.11, respectively.
IronFX has been around since 2010. IronFX serves over 1.5 million clients worldwide and is regulated by CySEC, FCA, and FSCA. There are over 500 instruments to trade, which include forex, commodities, indices, stocks, and futures.Â
Regional Features:Â
IronFX offers clients the ability to trade the well-known MetaTrader 4 platform, long an industry standard. This allows traders to take advantage of the massive number of automated trading bots and strategies that are available for MT4.Â
IronFX also has its own TradeCopier platform for those who would take advantage of copytrading. This is a broker that also features several other benefits. There is educational content, including videos, eBooks, webinars, and podcasts. There is a research section called “Technical View” by Trading Central.Â
Vantage was founded in 2009 and is regulated by ASIC and CIMA. Forex, commodities, stocks, cryptocurrencies, and indices are all available at Vantage, with low spreads for traders.
Regional Features:Â
Vantage offers several different platforms for traders, including MetaTrader 4 and MetaTrader 5. The fees are thin, with the spread in the EUR/USD pair ranging between 1.2 and 1.4 pips and GBP/JPY between 2.2 and 3.1 basis points. The Dow Jones was good as well, with a 1.0 to 1.3 pips spread.
FP Markets has been around the CFD world since 2005, offering trading in forex, commodities, stocks, indices, ETFs, and crypto markets. FP Markets is regulated by CySEC, ASIC, and FSCA and has an unregulated entity registered in St. Vincent & the Grenadines.
Regional Features:Â
FP Markets offers over 10,000 assets for trading, making it a great choice for professionals seeking to diversify their portfolios. The broker also provides VPS hosting and copy trading solutions.
There is a Traders Toolbox for MetaTrader 4, including 12 professional tools. The testing showed that the spreads were tight at FP Markets, including EUR/USD seeing between 1.0 and 1.2 pips, and the GBP/JPY pair offering 1.5 and 1.9 pips.Â
AvaTrade has been around since 2006 and offers a wide range of trading instruments. This includes stocks, ETFs, forex, options, indices, commodities, cryptocurrencies, and bonds. AvaTrade is regulated in multiple jurisdictions, including CySEC, ASIC, and FSA Japan.
Regional Features:Â
MetaTrader 4, MetaTrader 5, AvaTrade App, and AvaTrade Web are all available. The offerings are varied and wide, allowing traders to get exposure to various market profiles.
However, what stands out to me about this broker is the AvaTrade Web platform. This platform is very good and responsive, allowing traders to do extensive technical analysis on any market that they are trading. Furthermore, AvaTrade offers access to the popular Trading Central research tool, as well as AI-powered trading signals. Beyond that, beginners will love the massive educational section that offers in-depth lessons.
The fees for forex and commodities are better than the industry average. The live testing of spreads revealed the EUR/USD spread to be around 0.9 pips, while the WTI oil spreads hovered around $0.03. Indices and stocks were higher, with 5 to 6 basis points in the Dow Jones and $1.98 in Tesla.Â
FxPro is regulated by the FCA, CySEC, SCB, and FSA. FxPro offers over 2,100 instruments for trading, including forex, commodities, indices, stocks, ETFs, and cryptocurrencies. FxPro has a great mobile app that features a sleek design and is packed with tools like TradingView charts, watchlists, an economic calendar, as well as seamless account management.Â
Regional Features:Â
FxPro has a great mobile trading app, which is available for iOS and Android phones. It makes it easy to trade, manage positions, and manage your account on the go. You can even contact support via the app.Â
One-click trading is available in the mobile app, as well as trading from the charts. The economic calendar is good, and the app can even use two-factor verification and face verification for safety. Traders have the ability to access all markets via the app as well. Trading via the app is fast, as sub-12 milliseconds is possible.
The spreads at FxPro are solid, with the EUR/USD averaging 1.3 pips and the Dow Jones 30 being 3 basis points. There are Standard and Raw+ accounts available for traders to choose from.Â
The forex and CFD analysts and editors at FXEmpire bring together seasoned trading professionals and experienced financial journalists. Many of our experts have been featured in leading publications such as Investopedia and Forbes, and all of them combine strong industry credentials with hands-on trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later, Dan gained insight into the forex industry during his time as a Series 3 licensed futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Christopher Lewis is an experienced trader and technical analyst specializing on currencies, indices, and commodities. He also has been working as a proprietary trader for institutional accounts. Chris has been an FXEmpire analyst since the site's early days and shares his trading insights on his own blog, The Trader Guy. His sharp, practical understanding of the trading industry means he knows forex and CFD brokers inside-out, so you can trust his guidance on how they work and which one to choose.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.