Looking for the top forex broker in Colombia? Based on our hands-on analysis, we’ve identified the 9 best options tailored to various trading needs. Practical tips from our experts are included.
Forex and CFD trading in Colombia is regulated by the Superintendencia Financiera de Colombia (SFC), which ensures compliance with local financial laws and regulations. This includes overseeing broker registration, setting capital requirements, and enforcing transparent trading conditions. The SFC’s regulations aim to protect investors from fraud and malpractices, with measures like segregated client accounts.
Colombian traders have access to both local and international Forex brokers, although it’s important to verify their registration with the SFC. The regulatory framework in Colombia also includes rules on leverage and margin trading, alongside taxation and reporting requirements for trading profits.
To choose the best brokers in Colombia, we used the FX Empire’s 250-point rating system to find the leaders in each category. We focused on the following key features:
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 Colombian traders across various categories. You can read more about it and how we conduct our tests here.
Now, let’s explore the selected brokers.
Founded in 2008, Exness offers trading in forex pairs, indices, cryptocurrencies, stocks, and commodities. The broker is authorized by multiple regulators, including the top-tier Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).
Regional Features:
Exness provides a well-rounded offering, which includes a wide choice of trading platforms, competitive fees, and a solid range of tradable instruments. Exness’ clients benefit from access to the feature-rich and user-friendly Exness Terminal platform. Additionally, they have the option to utilize the widely-used MetaTrader 4 and MetaTrader 5 platforms.
The broker supports various deposit and withdrawal methods, including cryptocurrencies. An additional advantage for professional traders is the free access to VPS hosting. Traders will also benefit from trading signals by Trading Central, available in the personal area under “Analyst Views.”
Our live tests revealed that Exness offers competitive fees for their standard account. The spreads for the EUR/USD pair ranged between 0.8 and 1.0, while the spreads for the GBP/JPY pair were around 2.0. The broker also offered low spreads for Apple (0.09) and Tesla (0.11). The fees for such instruments are notably better than the industry average. Furthermore, it’s important for traders to note that Exness does not levy charges on deposits or withdrawals, and there are no inactivity fees.
Founded in 2010, IronFX operates as a forex and CFD broker, catering to a global client base of over 1.5 million. Regulated by CySEC, FCA, and FSCA, it provides access to a wide array of over 500 tradable instruments, including forex, commodities, indices, stocks, and futures.
Regional Features:
IronFX offers its clients access to the widely-used MetaTrader 4 platform. The broker’s clients can engage in automated trading through MetaTrader’s Expert Advisors feature and participate in copy trading via the broker’s AutoTrade function.
Additionally, the broker offers the TradeCopier platform, enabling users to replicate the positions of other traders in real-time. IronFX’s strong educational support includes hundreds of educational videos, four eBooks, and a variety of webinars and podcasts. The broker’s research support features a ‘Technical View’ section provided by the renowned Trading Central.
Our live tests revealed that IronFX’s trading costs are competitive, falling below industry standards. For instance, spreads for the EUR/USD pair ranged from 0.9 to 1.0, while spreads for WTI oil were as low as 0.04. Notably, IronFX does not impose fees for deposits, withdrawals, or account inactivity.
Founded in 2009, Vantage offers trading in currency pairs, indices, commodities, stocks, and cryptocurrencies. The broker is regulated by ASIC and CIMA.
Regional Features:
My research showed that Vantage provides a wide range of tradable platforms, including MetaTrader 4, MetaTrader 5, ProTrader, and Vantage App. App. Pro-level traders familiar with TradingView will especially appreciate ProTrader, as it’s powered by this renowned platform.
Additionally, advanced traders will benefit from the free VPS hosting.
The broker also stands out for its strong research support. This includes frequent updates from the in-house team and a sentiment data tool, which displays the total long and short positions of over 50,000 Vantage clients. Personally, I believe sentiment data is an important analytical tool for the contemporary trader.
Regarding fees, our assessments indicated that Vantage features competitive spreads across multiple assets. For example, the EUR/USD spreads ranged between 1.2 and 1.4, while GBP/JPY spreads were in the 2.2 – 3.1 range. The spreads were especially low in the indices section, with Dow Jones ranging from 1.0 to 1.3 and DAX spreads as narrow as 0.5.
Founded in 2009, FBS offers trading in forex, commodities, stocks, indices, and cryptocurrencies. The broker is regulated by CySEC, ASIC, FSCA, and IFSC Belize.
Regional Features:
Our research indicated that FBS offered strong educational support, including educational articles, platform tutorials, videos, glossary, trading ideas, and courses. The material is broken into various levels, so beginner and advanced traders alike will find information that suits their needs.
FBS offers the popular MetaTrader 4 and MetaTrader 5 platforms. It also provides news and analysis from a team of in-house market experts, which I found to be insightful.
Our tests indicated that FBS offered competitive spreads in major forex pairs. For example, EUR/USD spreads varied between 0.8 and 1.1. Dow Jones spreads were in the 3.3 – 6.0 range, while WTI Oil spreads averaged 0.05. In our tests, swap fees were average compared to industry standards. The broker does not charge deposit or withdrawal fees and has an inactivity fee of $5.
Founded in 2009, RoboForex is based in Belize and regulated by the Financial Services Commission (FSC) of Belize. The broker offers trading in currency pairs, commodities, stocks, indices, and futures.
Regional Features:
RoboForex offers the R StocksTrader platform, tailored for stock trading, along with its mobile counterpart, R MobileTrader. This platform includes the R StocksTrader Strategy Builder, a tool for crafting automated trading strategies, featuring historical price data since 1970 for backtesting. Additionally, traders can utilize the widely-used MetaTrader 4 and MetaTrader 5 platforms. RoboForex also provides complimentary VPS hosting for accounts maintaining a minimum balance of $300 and a monthly trading volume of 3 lots or more.
The broker grants access to over 12,000 instruments across various asset classes through its R StocksTrader account. In terms of fees, our analysis reveals that RoboForex’s spreads and commissions are competitively lower than the industry average. For instance, EUR/USD spreads on a commission-based account range from 0.0 to 0.2, and GBP/JPY spreads hover between 0.9 and 1.0. Notably, RoboForex does not impose inactivity fees and offers free deposits and withdrawals twice monthly.
Founded in 2017, Zero Markets offers trading in forex, indices, commodities, stocks, bonds, and cryptocurrencies. The broker is regulated by ASIC and FSC Mauritius and also has an unregulated entity registered in St. Vincent & the Grenadines.
Regional Features:
Zero Markets provides access to the widely-used MetaTrader 4 and MetaTrader 5 platforms, available on desktop, web, and mobile. The broker features a copy trading service on MT4, enabling traders to replicate the strategies of successful traders.
Additionally, Zero Markets offers Signal Start for copy trading, with a $25 monthly platform fee per provider, covered by Zero Markets under certain conditions, such as a minimum $1000 deposit and a monthly trading volume of 5 lots. Signal providers receive 30% of the ongoing subscription fees. For advanced traders, MAM/PAMM accounts are available with a minimum of 20,000 AUD.
ZeroMarkets’ research tools include the popular Autochartist, as well as a set of MT4/MT5 tools like Correlation Trader and Sentiment Trader. Traders also have access to a free VPS if they meet deposit and trading volume requirements.
My tests revealed that Zero Markets offered competitive spreads and swap/rollover fees. For example, EUR/USD spreads ranged between 1.2 and 1.3, while Dow Jones spreads varied between 1.6 and 2.1. However, share CFD commissions were high. The broker does not charge deposit, withdrawal, or inactivity fees.
Established in 2013, FXTM is a global forex and CFD broker headquartered in Mauritius. Clients can access hundreds of CFDs on forex, commodities, indices, shares, and cryptocurrencies via MetaTrader 4 and 5 platforms and the FXTM Trader App. Real shares are also available via the MT5 platform.
Regional Features:
FXTM offers above-average leverage of up to 1:2000 for major forex pairs. This means that with $1,000 in your account, you can control a position of up to $2M. Using high levels of leverage is risky and can magnify both profits and losses.
I noted that spreads in the zero commissions Advantage Plus account were average for the industry, while the raw spread Advantage account offers competitive trading costs, helping to provide an edge for active traders.
FXTM offers excellent research materials. Analysis from a seasoned in-house team is complemented by trading signals from Acuity within the client portal and a range of custom MT4 add-ons.
Founded in 2006, AvaTrade offers a wide array of financial instruments, including stocks, ETFs, forex pairs, options, indices, commodities, cryptocurrencies, and bonds. The broker has multiple regulations, including CySEC, ASIC, and FSA Japan.
Regional Features:
AvaTrade provides a wide choice of trading platforms, including the popular MT4/MT5, the more user-friendly AvaTrade Web platform, and the AvaTradeGO app. The broker’s offerings encompass various asset classes, including bonds and forex options, which are not commonly included in typical brokers’ portfolios.
Traders have access to the popular Trading Central research tool. AvaTrade also provides AI-powered trading signals, which may help beginner traders start their trading journey and build their trading skills. Beginner traders will also benefit from the AvaProtect risk management tool, which allows them to protect trades against losses for a fee. The tool is available exclusively on AvaTrade platforms.
My hands-on examination revealed that AvaTrade’s fees for forex and commodities are more competitive than the industry average. For instance, during the live testing, spreads for the EUR/USD pair averaged around 0.9, while those for WTI oil were approximately 0.03. However, the spreads for indices and stocks were on the higher side, with the Dow Jones index ranging from 5 to 6 and Tesla shares at a spread of 1.98.
Established in 2005, FP Markets provides trading opportunities in forex pairs, commodities, stocks, indices, ETFs, and cryptocurrencies. The broker is regulated by CySEC, ASIC, and FSCA. FP Markets also has an unregulated entity registered in St. Vincent & the Grenadines.
Regional Features:
My research indicated that FP Markets offers a diverse array of tradable instruments, including 680+ stocks from Europe, the UK, the U.S., and Asia. The broker also provides VPS hosting, which is a valuable feature for algorithmic traders. Copy trading services include Signal Start and FP Markets Copy trading, so professional traders will have a choice of platforms for providing their trading signals.
FP Markets offers a Traders Toolbox for MetaTrader 4. This is a set of 12 distinct tools, which includes Correlation Trader (compares correlations between two symbols), Sentiment Trader (gauges market sentiment), and Excel RTD (inserts account, ticket, and price data into Excel). Personally, I find correlation tools very handy for coming up with new trade ideas. FP Markets also offers other well-known analysis tools like Autochartist and Trading Central.
Our live tests indicated that FP Markets offers mid-to-low spreads compared to the broader industry. For example, during my live testing, the EUR/USD spreads varied between 1.0 and 1.2, while the GBP/JPY spreads hovered between 1.5 and 1.9. Notably, the broker does not impose deposit, withdrawal, or inactivity fees.
Use our guide to define the best forex broker in Colombia according to your trading goals.
The process of choosing a broker begins with learning where your potential broker is regulated. In our research, we divide regulators into three tiers: Tier-1, Tier-2, and Tier-3.
Traders should prioritize essential safeguards such as negative balance protection, segregated funds, and compensation funds, all of which offer reassurance in case of financial issues. It’s important to note that offshore regulators generally don’t enforce stringent leverage limits, offering traders access to high levels of leverage but with fewer protections. You should be aware that compensation schemes may not always be in place. Consequently, if a broker encounters financial difficulties, traders will likely have to navigate the situation on their own.
Read more about the best regulated forex brokers in our detailed guide.
The brokers featured in our list provide offshore-regulated entities for clients based in Colombia. These entities ensure negative balance protection and maintain segregated funds for client security. At the same time, they offer a high level of leverage.
Typically, brokers charge spreads, commissions, swap/rollover fees, and inactivity fees.
You should understand the differences between various types of accounts.
Read more about Best STP forex brokers and Best ECN forex brokers.
In today’s trading landscape, it’s common to find brokers offering platforms such as MetaTrader 4 and MetaTrader 5. While these platforms come equipped with a range of tools, they’re typically more appropriate for traders with some experience. Beginners may find these platforms challenging initially and might need time to familiarize themselves with the complexities. Find out more about each platform in our dedicated guides on best MT4 brokers and best MT5 brokers.
Alternatively, some brokers offer their own proprietary trading platforms, designed with a broader range of traders in mind. These in-house platforms usually stand out for their ease of use and intuitive navigation, making them a more welcoming option for those new to trading.
The choice of a trading platform should align with your trading style, experience, and personal preferences. In my view, if you’re just starting out, you’ll likely be better served by a broker’s proprietary, user-friendly platform or mobile app. On the other hand, seasoned traders often lean towards the advanced functionalities offered by platforms like MT4 or MT5. You can also check out our dedicated guide on best forex trading platforms.
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 acts as a double-edged sword, as it can also magnify your potential losses. Therefore, I’d recommend beginner traders start with low levels of leverage to avoid the risk of substantial losses.
For those comfortable with these dynamics, FX Empire offers a list of the best forex brokers with high leverage, carefully selected to suit specialized trading needs.
Colombia-based traders can open accounts with offshore entities of the brokers, so they will get access to high levels of leverage, like 1:500.
Based on my trading experience, I have outlined the five things to avoid when choosing a broker:
To safeguard yourself against forex scams, follow these essential guidelines:
And if you are still uncertain, you can always check out our database of reviews to find the most reliable brokers.
FX Empire, with a history dating back to 2011, 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 thorough and unbiased reviews, 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:
We open accounts, test platforms, measure spreads, and chat with support teams to collect as much data as possible 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.
For this guide, I focused on forex brokers that are best suited for traders based in Colombia. 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 Colombian clients.
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.
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.
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 licenced 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.
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.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.