Table of Contents
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Top Forex Brokers in Colombia

Colombia is a high-growth service sector economy and a thriving financial sector, with most of its population living in urban centres, making for excellent Forex trading conditions. The middle class is expanding slowly, and many younger Colombians view Forex trading as one option to accelerate the social elevator in Colombia, which ranks among the slowest globally.

Our Colombia Forex brokers review evaluated dozens of international Forex brokers to identify the most competitive choices for popular Forex trading strategies in Colombia.

1
4.9/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
VPS hosting for low-latency 24/5 algorithmic Forex trading & deep liquidity.
A well-balanced asset selection & competitive commission-based trading costs.
2
4.8/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
An excellent choice of payment processors, including 15+ cryptocurrencies.
Daily market reports via the FP Markets newsletter & quality education and research.
3
4.7/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Guardian Angel plugin for MT4 and a fee-based Ava Protect insurance policy.
Embedded Trading Central services in WebTrader and the mobile app AvaTradeGO.
4
4.6/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
MT4, with its Pivot Point Strategy plugin & user-friendly mobile app FXTM Trader.
Ultra-low trading fees & a high-paying affiliate program.
5
4.5/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Cryptocurrency deposits and withdrawals & a $100 minimum deposit
Well-regulated broker & multilingual customer support, including by phone
  • Eightcap, Competitive pricing + excellent daily videos.
  • FP Markets, ECN trading with leverage up to 1:500.
  • AvaTrade, Highly regulated, choice of fixed or floating spreads.
  • FXTM, Best all-around broker with high floating leverage and fast execution.
  • DNA Markets, Super asset selection for Forex and cryptocurrency traders.

Best Colombian Forex Brokers Comparison

Regulators
ASIC, CySEC, FCA, SCBASIC, CySEC, FSCAASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFIDCMA, CySEC, FCA, FSC Mauritius, FSCAASIC
Year Established
20092005200620112023
Execution Type(s)
ECN/STP, Market MakerECN/STPMarket MakerECN/STP, Market MakerECN/STP, Market Maker
Minimum Deposit
$100
$100
$100
$200
$100
Average Trading Cost EUR/USD
1.0 pips1.1 pips0.9 pips0.1 pips1.1 pips ($11.00)
Average Trading Cost GBP/USD
1.2 pips1.4 pips1.5 pips0.2 pips1.3 pips ($13.00)
Average Trading Cost Gold
$0.12 $0.21 $0.29 $0.18 $0.12
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Trading ViewMetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-basedOther, MetaTrader 4, MetaTrader 5, Web-based+MetaTrader 4, MetaTrader 5, Proprietary platformMetaTrader 4, MetaTrader 5
Islamic Account
Negative Balance Protection

Eightcap

In Summary Competitive pricing + excellent daily videos

Eightcap offers traders Capitalise AI for MT4, the most cutting-edge trading tool industry-wide, allowing algorithmic trading in a code-free environment. MT5 traders get the FlashTrader plugin, while Eightcap grants cryptocurrency traders the dedicated Crypto Crusher. It makes Eightcap the broker with the most advanced trading tools within our best Colombia Forex brokers review.

Beginners can benefit from Eightcap Labs and Eightcap Trade Zone, providing quality education and research. Eightcap connects social traders to the active TradingView community, where 50M+ traders share ideas, copy traders will use embedded MT4/MT5 services, and the AI-powered economic calendar offers news traders a competitive edge.

Read more on Eightcap »
4.9/5 in this category

Pros & Cons

  • Low minimum deposit and high leverage of up to 1:500
  • Competitive cost structure
  • Excellent technology infrastructure and seasoned management team
  • Daily research and quality educational content
  • Limited leverage in some areas

FP Markets

In Summary ECN trading with leverage up to 1:500

Traders at FP Markets get a 12-plugin upgrade package plus Trading Central and Autochartist services for MT4/MT5, earning FP Markets the title of most upgraded MT4/MT5 trading environment within our best Colombia Forex brokers review. Traders also get a well-balanced asset selection, competitive, commission-based trading fees, and fast payment processing times.

FP Markets is also an excellent broker for copy traders, who may use embedded MT4/MT5/cTrader copy trading services, the FP Markets alternative, the well-known Myfxbook Autotrade service, or fee-based Signal Start. Licensed account managers can provide traditional account management via MAM/PAMM accounts. Multi-lingual customer support is available 24/7.

Read more on FP Markets »
4.8/5 in this category

Pros & Cons

  • Choice of trading platforms and auxiliary trading tools
  • Very competitive cost structure and excellent asset selection
  • Low minimum deposit requirement and leverage of up to 1:500
  • Well-regulated and trustworthy
  • Availability of Iress geographically restricted

AvaTrade

In Summary Highly regulated, choice of fixed or floating spreads

AvaTrade ranks as the top Forex broker within our best Colombia Forex brokers for beginners due to its industry-leading education via the Ava Academy. Traders also get a choice of trading platforms, which include the specialized Ava Option and Ava Social. MT4/MT5 fully supports algorithmic trading and has an embedded copy trading service. Third-party copy trading provider DupliTrade is also available.

The reasonable commission-based cost structure and well-balanced asset selection, which includes options, ETFs, and cryptocurrencies, can provide a competitive edge. Passive income seekers will benefit from the high-paying affiliate program with 145,000 registered partners and $300,000,000+ in commission payouts.

Read more on AvaTrade »
4.7/5 in this category

Pros & Cons

  • High quality educational offering via AvaAcademy
  • Excellent choice of trading platforms catering to various trading needs
  • Broad asset selection and cross-asset diversification opportunities
  • Well-regulated and trusted broker with oversight from a central bank
  • Trading costs competitive but nothing special

FXTM

In Summary Best all-around broker with high floating leverage and fast execution

FXTM is ideal for demanding algorithmic traders and scalpers. The Advantage account offers ultra-low trading fees with raw spreads of 0.0 pips for a commission of $0.80 and $4.00 per 1.0 standard round lot. The high-quality price improvement technology decreases trading fees by an average of $3.00 per round lot. Therefore, FXTM ranks as one of the most competitively priced Forex brokers within our best Colombia Forex brokers review.

Beginners get quality education and actionable trading signals, while its choice of payment processors ensures flexibility in account management. MT4/MT5 fully support algorithmic trading, and FXTM offers 24/5 low-latency market access via VPS.

Read more on FXTM »
4.6/5 in this category

Pros & Cons

  • Excellent commission-based Forex pricing environment and transparency
  • Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app
  • Quality market research and educational content for beginner traders
  • A highly regulated broker with a tier-1 license
  • No cryptocurrencies and limited choice of commodities

DNA Markets

In Summary Super asset selection for Forex and cryptocurrency traders

I rate DNA Markets as one of the best Forex brokers in Colombia for its low fees, deep liquidity, and fast order execution. Traders benefit from competitive commission-based trading fees with raw spreads from 0.0 pips for a commission of $6.00 per 1.0 standard round lot. With 800+ assets, DNA Markets provides sufficient diversification opportunities.

The $100 minimum deposit requirement and micro lot trading from 0.01 lots, which traders can deposit via cryptocurrencies into a USD-denominated trading account, makes it accessible to all Colombian-resident traders. DNA Markets also pays the first three months for fee-based copy trading provider Signal Start.

Read more on DNA Markets »
4.5/5 in this category

Pros & Cons

  • Competitive, commission-based trading fees
  • Choice of payment processors, including cryptocurrencies
  • Excellent choice of Forex and cryptocurrency pairs
  • MT4/MT5 trading platforms for algorithmic and copy trading
  • Limited commodity asset selection and no ETF trading

Forex Trading in Colombia

Colombia has been an attractive Forex market for years due to its fast-growing service sector-oriented economy. 82% of Colombian residents live in urban centres, and over 69% use the internet, while mobile penetration exceeds 127%, with over 81% active on social media. The Forex brokers that made our Colombia Forex brokers list cater well to the trending Colombian Forex trading strategies.

What to Look for in a Forex Broker from Colombia

All competitive Basotho Forex brokers should offer the following:

  • Regulation - A 10+ years clean regulatory track record.
  • Low trading fees - Competitive trading fees and low swap rates, including positive rates on qualifying assets.
  • Trading platforms - Algorithmic and copy trading enabled trading platforms and user-friendly mobile apps.
  • Asset diversity - A choice of liquid trading instruments.
  • Deposits/Withdrawals - No internal transaction fees and low minimum requirements.

Forex Trading Regulations in Colombia

The Superintendencia Financiera de Colombia (SFC) regulates the Colombian financial sector, but most online retail Forex trading occurs via international offshore brokers like the ones on our Colombia Forex brokers list. Colombia does not require offshore brokers to obtain a domestic license, and there are no restrictions on Colombian residents from opening offshore Forex trading accounts. The Banco de la República, the Colombian central bank, regulates physical Forex transactions but not online derivative contracts.

How Much is Forex Leverage in Colombia?

Colombian Forex traders will deal with offshore brokers like the ones from our Colombia Forex brokers review, and there are no upper limits. The industry leverage standard is 1:500, and every Forex broker we have reviewed grants Colombian Forex traders 1:500 with negative balance protection.

How to Start Forex Trading in Colombia

Forex traders can improve their results if they consider the tips below before opening an account with the Colombia Forex brokers we have reviewed.

Here are tips on how to start Forex trading in Colombia:

  1. Ensure to invest time in quality education.
  2. Forex trading is a skilled profession. Respect it as such.
  3. Trading psychology separates profitable traders from up to 90% of unprofitable ones.
  4. Learn the importance of leverage and its relationship to risk management.
  5. Leverage magnifies profits and losses. You have to learn to use it properly.
  6. Risk management is as important as trading strategy.
  7. A suitable trading strategy will reflect your personality.
  8. Low trading fees are the primary component of a competitive trading environment.
  9. Learn the proper placement of take profit and stop loss levels.

What is the Best Trading Platform in Colombia?

MT4 is the best trading platform in Colombia, as it supports algorithmic, copy, and API trading. It also has 25,000+ custom indicators, plugins, and EAs. All Forex brokers on our Colombia Forex brokers list offer it. MT5 and cTrader rank second and third, as they lack the versatility of MT4.

Forex Trading Taxation in Colombia

Colombia has a personal income tax, a capital gains tax, and an equity tax. None appears to apply to online Forex trading except potentially the personal income tax for individuals who trade for a living. All Forex brokers from our Colombia Forex brokers are well-regulated offshore brokers. Colombian Forex traders must consult a legal professional to seek tax advice in Colombia to ensure compliance with local rules and regulations.

Pros & Cons of Forex Trading in Colombia

Before funding a trading account with one of the Forex brokers from our Colombia Forex brokers list, Colombian Forex traders should consider the pros and cons of Forex trading in Colombia.

The pros of Forex trading in Colombia are:

  • Lower capital requirements versus other assets
  • 24/5 decentralized trading
  • Low-latency algorithmic trading
  • Passive income opportunities
  • Mobile trading
  • Copy and social trading
  • PAMM/MAM accounts

The cons of Forex trading in Colombia are:

  • Disconnect between leverage and its relationship to risk management
  • A false sense of accomplishment from demo trading
  • Scams and frauds

Bottom Line

Forex trading in Colombia continues to attract the younger population seeking to cash in on its slowly expanding economic growth. Colombia has established itself as a regional financial centre, and the Forex brokers from our Colombia Forex brokers review present well-regulated and cutting-edge trading environments.

Colombia presents a high-growth market in Latin America, and while copy trading from mobile devices remains among the preferences, given the mobile penetration versus the internet penetration of 127+% versus 69%+, algorithmic trading and account management services continue to grow, as evident by Colombian signal providers.

You might also be interested in reviewing the below top brokers:

FAQs

Can you trade Forex in Colombia?

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Yes, Forex trading is legal in Columbia, and most offshore Forex brokers accept Colombian residents as clients.

Is Forex income taxable in Colombia?

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Colombian Forex traders should consult with a legal professional for tax advice. The capital gains tax does not apply to derivative trading, but a personal income tax may apply.

What time does the Forex market open in Colombia?

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The Forex market operates 24/5, but the unofficial start to trading is the opening bell of the equity market at 9:30 a.m.

How can I withdraw money from Forex brokers in Colombia?

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Traders must have verified trading accounts and can withdraw money from the back office or mobile app of Forex brokers. The name on the payment processor and the trading account must match.

Christopher Lewis
About Christopher Lewis

Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.