Best Online Brokers in Brazil 2026
CVM-regulated brokers in Brazil — ranked by fees, B3 access and platform quality for Brazilian investors in 2026.
✅ CVM Regulated
🇧🇷 CVM Regulated
📊 B3 Listed
💰 BRL 20k Monthly Exempt
🔬 Tested with real accounts
🔄 Last updated: July 2026 · Reviewed by WhichBrokr Research Team
⚠️ Risk warning: Investing involves risk of loss. Capital is not guaranteed. Some links on this page are affiliate links — this does not affect our rankings.
⚡ No time to read? Our top picks for Brazil
XP — Brazil's largest independent investment platform with 4+ million clients. Zero-commission stocks on B3, plus ETFs, bonds, FIIs, options, futures, mutual funds, COEs and Tesouro Direto — all in one app. CVM regulated.
NUInvest — Nubank's integrated investment platform (formerly NUInvest / Easynvest), available directly in the Nubank app. Zero-commission on stocks, ETFs, FIIs, BDRs and Tesouro Direto. One of the most beginner-friendly entry points to the Brazilian market.
BTG Pactual — BTG Pactual Digital is the retail arm of Latin America's largest investment bank (US$145bn assets). Zero-commission stocks on B3, plus an industry-leading fixed income shelf (CDBs, LCIs, LCAs, debentures, FIDCs) and full market access. CVM and BACEN regulated.
Interactive Brokers — The broker of choice for serious investors. Access to 150+ markets in 33 countries.
Top 4 Best Online Brokers in Brazil — Detailed Reviews
XP
Brazil's #1 Broker
XP
Regulated by CVM (Brazil)
4.3/5
Commission
Zero commission (B3 stocks)
Brazil's largest independent investment platform with 4+ million clients. Zero-commission stocks on B3, plus ETFs, bonds, FIIs, options, futures, mutual funds, COEs and Tesouro Direto — all in one app. CVM regulated.
NU
Best for Beginners — Brazil
NUInvest
Regulated by CVM (Brazil)
4/5
Commission
Zero commission (stocks, ETFs, FIIs, BDRs)
Nubank's integrated investment platform (formerly NUInvest / Easynvest), available directly in the Nubank app. Zero-commission on stocks, ETFs, FIIs, BDRs and Tesouro Direto. One of the most beginner-friendly entry points to the Brazilian market.
BTG
Best Fixed Income — Brazil
BTG Pactual
Regulated by CVM (Brazil)
4.1/5
Commission
Zero commission (B3 stocks)
BTG Pactual Digital is the retail arm of Latin America's largest investment bank (US$145bn assets). Zero-commission stocks on B3, plus an industry-leading fixed income shelf (CDBs, LCIs, LCAs, debentures, FIDCs) and full market access. CVM and BACEN regulated.
IB
Best for Professionals
Interactive Brokers
Regulated by SEC
4.6/5
Commission
From $0.005/share (Pro; EU only)
Europe's lowest-cost broker for stocks & ETFs. Access to 50+ exchanges in 30 countries.
How to Get Started with Best Brokers in Brazil
1
Choose a regulated platform
Pick a broker regulated by CVM or operating under an international licence. All platforms on this page qualify.
2
Open your account
Account opening is fully online. You'll need a photo ID (passport or national ID) and proof of address. Most platforms verify within 1–2 business days.
3
Fund your account
Deposit via bank transfer (free, 1–3 days) or debit card (instant, small fee). Minimum deposits vary — most top platforms start from R$0.
4
Start investing
Diversify across stocks and ETFs. Consider low-cost index ETFs for long-term growth.
🇧🇷 Brazil: Country Environment Blueprint
Passporting / Access
International brokers may require a local licence. Check with CVM before using a foreign broker.
Regulatory Blacklist
✅ Active. CVM maintains a list of unauthorised institutions. Check cvmweb.cvm.gov.br before depositing.
Capital Gains Tax
15% (up to BRL 5M gains) / 17.5% / 20% / 22.5% (above BRL 30M) — Brazil has progressive CGT: 15% on gains up to BRL 5M, rising to 22.5% above BRL 30M. Important: monthly stock gains of up to BRL 20,000 are exempt from CGT. ETF gains are NOT exempt (taxed at 15% always).
Dividend Tax
Dividends currently tax-exempt in Brazil (under current rules — proposed changes in 2023 budget not fully implemented. Verify current 2026 rules).
Foreign Account Reporting
⚠️ Required. CBE (Declaração de Capitais Brasileiros no Exterior) — annual declaration to Banco Central for foreign assets >USD $1,000. Fines: Fines for non-declaration to Banco Central. Annual income declaration to Receita Federal required..
Loss Carry-Forward
Indefinite for stocks (carry-forward of losses).
LCI/LCA (Real Estate/Agribusiness Letters)
Cap: No cap Income-tax exempt for individual investors. Issued by banks. Government-guaranteed via FGC. Good fixed-income alternative to CDB.
Previdência Privada (PGBL/VGBL)
Cap: PGBL: 12% of gross income deductible PGBL: tax-deductible contributions (best for income tax payers). VGBL: no deduction but only gains taxed on withdrawal. Both are long-term pension savings.
Tesouro Direto
Cap: No cap Brazilian government bonds. Available online from BRL 30. Selic-rate bonds (Tesouro Selic) offer CDI-linked returns. Safe, liquid, government-backed.
US ETF Access (PRIIPs)
✅ US-domiciled ETFs (SPY, QQQ, VTI) may be available to retail investors in Brazil.
Domestic Exchanges & Indices
B3 (Brasil, Bolsa, Balcão) · Index: Ibovespa (IBOV)
Key stocks: Petrobras (PETR4.SA), Vale (VALE3.SA), Itaú Unibanco (ITUB4.SA), Ambev (ABEV3.SA), Magazine Luiza (MGLU3.SA)
What Brazil Investors Need to Know in 2026
Brazil has an important tax advantage for small investors: monthly stock gains of up to BRL 20,000 are CGT-exempt. This means disciplined investors can realise significant annual gains tax-free by managing monthly disposals carefully.
Nubank (Nu Holdings) revolutionised Brazilian banking — now with 80M+ customers across Latin America. Its brokerage arm NuInvest offers zero-commission trading on B3.
Tesouro Direto allows Brazilian investors to buy government bonds directly online from BRL 30. Tesouro Selic bonds are essentially a savings account with government backing and CDI-rate returns.
🏠 Local Platforms to Know
XP
XP Investimentos — Brazil's largest independent investment platform. Wide range of assets, strong research. CVM-regulated.
NUI
NuInvest (Nu Holdings) — Nubank's brokerage. Zero-commission B3 trading. 80M+ Nubank customers.
BTG
BTG Pactual Digital — Brazil's largest investment bank's retail platform. Wide asset selection.
TRII
Trii — Growing Brazilian broker targeting young investors. Low fees, good app.
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How we chose these platforms
Our team opened real accounts, deposited funds and tested each platform in Brazil. We evaluate regulation quality, fees (commissions, spreads, FX conversion), platform usability, customer support response times and local features specific to Brazil investors. Rankings are updated regularly.
Frequently Asked Questions
What is the BRL 20,000 monthly exemption? +
Monthly stock sales of up to BRL 20,000 are CGT-exempt in Brazil. ETFs and FIIs do not benefit from this exemption. Disciplined traders can manage their monthly disposals to stay under the threshold.
What is Tesouro Direto? +
Brazil's government bond programme. Buy directly online from BRL 30. Tesouro Selic offers CDI-rate returns with daily liquidity. Available through most Brazilian brokers.