Best Forex Brokers in Colombia 2019
AvaTrade
Regulated By:ASIC, BVI, CBI, FSA(JP)
Foundation Year:2006
Headquarters:Five Lamps Place, 77-80 Amiens Street, Dublin 1, DO1A742, Dublin, Ireland
Min Deposit:$100
Your capital is at risk
Your capital is at riskFBS
Regulated By:CySEC, IFSC
Foundation Year:2009
Headquarters:N/A
Min Deposit:$1
Your capital is at risk
Your capital is at riskeToro
Regulated By:ASIC, CySEC, FCA
Foundation Year:2007
Headquarters:Kanika International Business Center 7th Floor, 4 Profiti Ilia Street Germasogeia, Limassol, Cyprus
Min Deposit:$200
76% of retail investor accounts lose money
76% of retail investor accounts lose moneyLibertex
Regulated By:CySEC
Foundation Year:2014
Headquarters:Gladstonos and Karaiskaki Street, off 31, Limassol 3032, Cyprus
Min Deposit:$10
Your capital is at risk
Your capital is at riskATFX
Regulated By:FCA
Foundation Year:2014
Headquarters:1st Floor, 32 Cornhill, London
Min Deposit:$100
Your Capital is at Risk
Your Capital is at RiskFP Markets
Regulated By:ASIC
Foundation Year:2005
Headquarters:Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia
Min Deposit:$100
Your capital is at risk
Your capital is at riskForex Brokers in Colombia Comparison Table
| Broker | Rating | 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 | Official Site |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 | Visit Broker> Your capital is at risk | ASIC, BVI, CBI, FSA(JP) | $100 | 1:30 | ActTrader, MT4, MT5, Proprietary, Zulutrade | 2006 | Dealing Desk, Market Maker | Visit Broker> Your capital is at risk | ||||||||||
 | 4.4/5 | Visit Broker> Your capital is at risk | CySEC, IFSC | $1 | 1:3000 | MT4, MT5 | 2009 | ECN, No dealing desk, STP | Visit Broker> Your capital is at risk | |||||||||
 | 3.2/5 | Visit Broker> 76% of retail investor accounts lose money | ASIC, CySEC, FCA | $200 | 1:30 | cTrader, Currenex, eToro Platform, Keystone, Marketspulse, Mirror Trader, MT4, MT5, Tradologic, Zulutrade | 2007 | Market Maker, No dealing desk, STP | Visit Broker> 76% of retail investor accounts lose money | |||||||||
 | 3.6/5 | Visit Broker> Your capital is at risk | CySEC | $10 | 1:600 | N/A | 2014 | Market Maker | Visit Broker> Your capital is at risk | |||||||||
 | 4.3/5 | Visit Broker> Your Capital is at Risk | FCA | $100 | 1:200 | MT4 | 2014 | No dealing desk, STP | Visit Broker> Your Capital is at Risk | |||||||||
 | 4.6/5 | Visit Broker> Your capital is at risk | ASIC | $100 | 1:500 | MT5 | 2005 | DMA, ECN | Visit Broker> Your capital is at risk |
How to Choose a Forex Broker as a Colombian Trader
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.