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Home › 🇺🇾 Uruguay › Best Forex Brokers

Best Forex Brokers in Uruguay 2026

BCU-regulated forex in Uruguay.

✅ BCU Regulated 🇺🇾 BCU Regulated 🔬 Tested with real accounts
🔄 Last updated: July 2026  ·  Reviewed by WhichBroker Research Team
📋 On this page
⚠️ 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 Uruguay
📈 Best brokers in Uruguay 🏦 Best banks in Uruguay ₿ Best crypto in Uruguay 🎯 Find my broker

Top 4 Best Forex Brokers in Uruguay — Detailed Reviews

🥇 Editor's Choice Fees: Low
XTB
Best overall broker for European investors. Zero commission stocks & ETFs up to €100k/month.
4.7/5
★★★★½
Min. Deposit
€0
Commission
0% up to €100k/month
Time to open
~1–2 days
Regulation
FCA
Best overall broker for European investors. Zero commission stocks & ETFs up to €100k/month.
69-80% of retail CFD accounts lose money.
Open Account → Full Review
🥈 Best Value Fees: Avg
Pepperstone
One of Europe's oldest exchanges. Regulated by CSSF in Luxembourg.
4.2/5
★★★★☆
Min. Deposit
$0
Commission
N/A (CFDs only)
Time to open
~1–2 days
Regulation
ASIC
One of Europe's oldest exchanges. Regulated by CSSF in Luxembourg.
74-89% of retail CFD accounts lose money.
Open Account → Full Review
🥉 Best for Beginners Fees: Avg
Saxo Bank
Canada's most trusted domestic crypto exchange. FINTRAC registered and OSC Restricted Dealer. CAD…
4.5/5
★★★★½
Min. Deposit
€2,000
Commission
From 0.08% (EU stocks)
Time to open
~1–2 days
Regulation
DFSA
Canada's most trusted domestic crypto exchange. FINTRAC registered and OSC Restricted Dealer. CAD funds held in CDIC-insured accounts.
Investing involves risk of loss.
Open Account → Full Review
Best for Advanced Fees: Avg
Capital.com
Canada's original online bank, now a Scotiabank subsidiary. No-fee chequing and savings, cash bac…
4.2/5
★★★★☆
Min. Deposit
$20
Commission
N/A (CFDs only)
Time to open
~1–2 days
Regulation
FCA
Canada's original online bank, now a Scotiabank subsidiary. No-fee chequing and savings, cash back credit card, and access to Scotiabank ATMs.
83% of retail investor accounts lose money when trading CFDs.
Open Account → Full Review

How to Get Started with Best Forex in Uruguay

1

Choose a regulated platform

Pick a forex broker regulated by BCU 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 $U0.

4

Start investing

Start with major pairs (EUR/USD, GBP/USD). Use a demo account first to practice risk-free.

🇺🇾 Uruguay: Country Environment Blueprint

🏛️
Forex Broker Regulation & Licensing
Who regulates forex brokers serving Uruguay
Primary Regulator
BCU (Banco Central del Uruguay (BCU))
EU/MiFID Passporting
International forex brokers may need local registration in Uruguay. Always verify regulation before depositing.
Regulatory Blacklist
BCU maintains a register of licensed firms. Always verify a forex broker's licence number before depositing.
📊
Leverage Limits & Margin Rules
Maximum leverage and risk controls for Uruguay retail traders
Major Pairs (EUR/USD etc.)
1:50
Minor Pairs & Indices
1:20
Negative Balance Protection
Check with your broker — negative balance protection may or may not be offered. Essential for CFD trading.
Margin Call Policy
Most regulated brokers issue margin calls at 50% margin level and close positions at 20-30%. Check your broker's specific policy.
💰
Forex Taxation
How forex trading profits are taxed in Uruguay
Capital Gains on FX
Forex gains are typically taxed as capital gains. Rate: 0% on securities gains. Consult a local tax professional for your specific situation.
Loss Deduction
N/A
Professional vs. Retail
Professional traders may be subject to income tax rather than capital gains tax. Frequent trading activity can trigger reclassification — seek advice.
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Available Instruments & Restrictions
What you can trade in Uruguay
Major Currency Pairs
✅ Available at all regulated brokers: EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, NZD/USD.
Exotic Pairs
Available at most brokers, typically with higher spreads. OANDA and IG Group offer the widest exotic pair selection.
Crypto CFDs
Crypto CFDs may be available depending on your broker and local regulations.

What Uruguay Investors Need to Know in 2026

Forex regulated by BCU.

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How we chose these platforms

Our team opened real accounts, deposited funds and tested each platform in Uruguay. We evaluate regulation quality, fees (commissions, spreads, FX conversion), platform usability, customer support response times and local features specific to Uruguay investors. Rankings are updated regularly.

Frequently Asked Questions