Best Ecuador Forex Brokers

BrokerNotes.co

Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by John Bringans

April 19, 2024

The first step for every forex trader should be choosing a reliable, well-regulated forex broker. The team at BrokerNotes has conducted extensive research and data collection on international forex brokers and the local regulatory environment to create this guide for Ecuador-based forex traders. Read more to learn which forex broker is best for your needs.

travel_explore A little bit of Ecuador trivia

Check out some general Ecuador facts as well as some info about some of the country's most important financial bodies in the paragraph below, generated by ChatGPT (to learn more about how we ethically incorporate AI into our content, read our generative AI policy).

According to official estimates, the population of Ecuador as of 2020 is 17.2 million people. The national currency of Ecuador is the United States dollar, although the Ecuadorian currency unit, known as the sucre, is still used for accounting purposes and is in circulation. The central bank of Ecuador is known as the Central Bank of Ecuador (BCE). The primary responsibilities of the Central Bank of Ecuador include the issuance and regulation of money and credit, overseeing the banking system, and supervising the activities of Ecuador's foreign exchange market. In addition to the Central Bank of Ecuador, the Superintendency of Banks and other Financial Institutions (SBS) serves as another financial markets regulator in Ecuador. As the primary financial markets regulator, the SBS is responsible for supervising and regulating banks, credit unions, insurance companies, and other financial entities in the country. It is also tasked with preventing money laundering and other illicit activities, monitoring compliance with banking regulations, and protecting the safety of customers' deposits and investments.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Forex Brokers Ecuador for 2024

  • IG
    - 9.9/10 Overall
  • FOREX.com
    - 9.4/10 Overall
  • XTB - 9.1/10 Overall
  • eToro - 8.8/10 Overall
  • Swissquote - 8.8/10 Overall
  • AvaTrade - 8.7/10 Overall
  • Admirals - 8.5/10 Overall
  • Pepperstone - 8.4/10 Overall
  • XM Group - 8.4/10 Overall
IG
9.9/10 Overall
Minimum Deposit£250.00
Tier-1 Licenses8
Tradeable Symbols (Total)19537

Year after year, IG has shown itself to be the best broker in the forex industry and a fantastic choice for forex traders. Highly trusted and regulated across the globe, IG delivers a wide variety of rich features, market research, and powerful trading tools. Fans of copy trading will appreciate IG’s seamless integration of trading signals into its web platform. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Visit Site

Join 239,000+ traders worldwide.

(Trading forex carries a high level of risk.)

FOREX.com
9.4/10 Overall
Minimum Deposit$100
Tier-1 Licenses7
Tradeable Symbols (Total)5500

FOREX.com is a highly trusted brand with a long history of offering forex in the U.S. and across the globe. FOREX.com offers its own flagship trading platforms for web and desktop, as well as the full MetaTrader suite. Though its pricing is higher than average, FOREX.com is a balanced choice for traders of all experience levels. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Visit Site

Pay 0 commissions on equities *T&Cs apply

(69%-77.7% of retail CFD accounts lose money.)

XTB
9.1/10 Overall
Minimum Deposit$0 info
Tier-1 Licenses2
Tradeable Symbols (Total)6100

XTB is a highly trusted brand with a proprietary platform (xStation 5) that delivers a rich selection of trading tools. XTB also offers CFDs for a wide range of asset classes, including multiple cryptocurrencies. Beginners will appreciate XTB's excellent educational content and the hundreds of lessons that are available via its Trading Academy.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
eToro
8.8/10 Overall
Minimum Deposit$10-$10,000
Tier-1 Licenses3
Tradeable Symbols (Total)3479

Best known for its copy trading platform suite, eToro is a highly trusted broker offering a large selection of cryptocurrency products, CFDs, shares, forex pairs, and a wide range of powerful trading tools. It’s worth noting that eToro is not a discount broker (though it offers zero-dollar commissions for U.S. stocks). Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)No
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Swissquote
8.8/10 Overall
Minimum Deposit$1000
Tier-1 Licenses5
Tradeable Symbols (Total)472

Swissquote delivers a balanced offering of easy-to-use proprietary trading platforms and popular third-party platforms like MetaTrader and TradingView. Swissquote also offers a staggering 3 million financial products. It’s worth noting that Swissquote's pricing is more expensive than what you'd find with low-cost forex brokers.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
AvaTrade
8.7/10 Overall
Minimum Deposit$100
Tier-1 Licenses4
Tradeable Symbols (Total)1260

AvaTrade is a well-rounded, highly trusted broker that offers excellent educational resources for beginners and great tools for copy trading. AvaTrade's commissions and market research are about average, and traders gain access to AvaTrade's proprietary platforms and the full MetaTrader suite. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Admirals
8.5/10 Overall
Minimum Deposit$100
Tier-1 Licenses4
Tradeable Symbols (Total)8702

Admiral Markets is a highly trusted multi-asset broker regulated in multiple reputable jurisdictions. Admiral Markets delivers a powerful MetaTrader experience with advanced supplemental features. With numerous platform add-ons and tools, copy trading, premium market research, and excellent educational content, Admiral Markets is a good choice for forex traders. Read full review. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Pepperstone
8.4/10 Overall
Minimum Deposit$200
Tier-1 Licenses3
Tradeable Symbols (Total)2342

Pepperstone is a highly trusted broker that offers a growing number of tradeable markets and support for third-party platforms such as TradingView, cTrader, a variety of copy trading platforms, and the MetaTrader suite. Traders at Pepperstone also gain access to high-quality research content in both written and video format. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformNo
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
XM Group
8.4/10 Overall
Minimum Deposit$5
Tier-1 Licenses4
Tradeable Symbols (Total)1394

XM Group is a trusted broker known for its robust educational materials and quality market research. Traders at XM Group gain access to the full MetaTrader platform suite along with trading tools provided by Trading Central. That said, XM Group doesn't offer any proprietary platforms, and its range of markets and trading costs could improve.

Apple iOS AppYes
Android AppNo
Proprietary PlatformNo
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes

What are the best Ecuador forex brokers?

We’ve tested over 60 international forex brokers and created unbiased, data-driven broker ratings to show you the best forex brokers in the industry. To help you navigate the world of forex regulations and choose a broker that you can trust, our expert research team has built a proprietary database containing over 100 global regulatory licenses and jurisdictions; that research determines each broker's individual Trust Score. Check out our top picks for the best Ecuador forex brokers:

Winner: IG

Year after year, IG has shown itself to be the best broker in the forex industry. Highly trusted and regulated in a staggering eight Tier-1 jurisdictions, IG holds a Trust Score rating of 99. Though IG does offer MetaTrader 4, IG’s proprietary web-based trading platform steals the show with its wide variety of rich features, market research, and powerful trading tools. Fans of social copy trading will appreciate IG’s seamless integration of trading signals into its web platform. IG has won countless Annual Awards from our sister site, ForexBrokers.com, and is a fantastic choice for forex traders of all experience levels.

IG Trading Platform Screenshots

IG Features

  • Overall rating - 9.9/10
  • Trust Score - 99
  • Tradeable symbols - 19537
  • Minimum deposit - £250.00

Runner Up: FOREX.com

FOREX.com, part of the StoneX Group, is a highly trusted brand with a long history of offering forex in the U.S. and across the globe. We love FOREX.com's flagship trading platforms for web and desktop (TradingView's powerful charting is fully integrated within the broker's web platform), and MetaTrader loyalists will appreciate that FOREX.com offers both MetaTrader 4 and MetaTrader 5. An impressive number of CFDs are available within the broker's proprietary platform (though fewer are available on MetaTrader). FOREX.com's pricing is great for active traders, but our research found that FOREX.com is slightly expensive compared to the industry average. Overall, FOREX.com is a well-balanced choice for traders of all experience levels.

FOREX.com Trading Platform Screenshots

FOREX.com Features

  • Overall rating - 9.4/10
  • Trust Score - 99
  • Tradeable symbols - 5500
  • Minimum deposit - $100

Podium Finisher: XTB

XTB is a highly trusted brand that holds licenses multiple global regulatory jurisdictions, earning it a Trust Score rating of 96. XTB's proprietary xStation 5 platform delivers a rich selection of trading tools and great usability. XTB provides access to CFDs for a wide range of asset classes, including multiple cryptocurrencies. Beginner forex traders will appreciate XTB's excellent educational content and the hundreds of lessons that are available via its Trading Academy.

XTB Trading Platform Screenshots

XTB Features

  • Overall rating - 9.1/10
  • Trust Score - 96
  • Tradeable symbols - 6100
  • Minimum deposit - $0

Compare trading costs for the best Ecuador forex brokers

Based on our own data (our independent database contains over 4,000 data points), this table compares trading costs for the top Ecuador forex brokers.

Company Accepts EC Residents Minimum Deposit Average Spread EUR/USD - Standard Average Spread EUR/USD - Mini All-in Cost EUR/USD - Active Active Trader or VIP Discounts
IG logoIG check £250.00 0.98 info 0.98 info 0.82 info Yes
FOREX.com logoFOREX.com check $100 1.4 info 1.4 info 0.83 info Yes
XTB logoXTB check $0 info 1.00 info 1.00 info 1.00 info No
eToro logoeToro check $10-$10,000 1 info 1 info N/A Yes
Swissquote logoSwissquote check $1000 N/A info N/A info N/A info Yes

Comparing trading platforms between Ecuador forex brokers

Trading platforms grant access to the foreign exchange market and allow you to analyze market conditions, manage positions, and execute trades. Check out a side-by-side comparison of the trading platforms available at the best Ecuador forex brokers, based on our independent product testing.

Company Accepts EC Residents Desktop Platform (Windows) Web Platform Proprietary Platform MetaTrader 4 (MT4) MetaTrader 5 (MT5) ZuluTrade cTrader
IG logoIG check Yes Yes Yes Yes No No No
FOREX.com logoFOREX.com check Yes Yes Yes Yes Yes No No
XTB logoXTB check Yes Yes Yes No No No No
eToro logoeToro check No Yes Yes No No No No
Swissquote logoSwissquote check Yes Yes Yes Yes Yes No No

Comparing investment options between Ecuador forex brokers

We closely monitor the availability of investment products such as forex trading (CFD and spot), stocks (CFD and non-CFD), spread betting, ETFs, and social copy trading – among many others. These investment types are tracked as variables within our extensive independent database. Check out the offering of investments at the top Ecuador forex brokers.

Company Accepts EC Residents Forex Trading (Spot or CFDs) Spread Betting Social Trading / Copy Trading U.S. Stocks (CFD)
IG logoIG check Yes Yes No Yes
FOREX.com logoFOREX.com check Yes No No Yes
XTB logoXTB check Yes No Yes Yes
eToro logoeToro check Yes No Yes Yes
Swissquote logoSwissquote check Yes No Yes Yes

What is the best forex broker in Ecuador?

IG is our pick for the best forex broker in Ecuador. Founded in 1974, IG holds licenses across a number of notable global regulatory jurisdictions, and has earned an overall Trust Score rating of 99. IG's impressive offering of 19537 tradeable symbols opens up a wide variety of trading opportunities for its clients. If you are interested in opening an account, the minimum deposit to get started as a trader at IG is £250.00. We've tested and reviewed dozens of forex brokers and created unbiased, data-driven broker ratings to highlight the best forex brokers in the industry. Our overall rating for IG is 9.9/10. Read our data-driven broker reviews to learn more.

Check out a gallery of screenshots from IG's trading platforms, taken by our research team during our product testing.

Best Ecuador Forex Brokers

Here are our picks for the best forex brokers that accept Ecuador-based clients in 2024. The below table is sorted by the brokers' Overall Ratings.

Company Accepts EC Residents Overall Rating Minimum Deposit Average Spread EUR/USD - Standard Read Review Visit Site
IG logoIG check 9.9 £250.00 0.98 info IG Review Visit Site
FOREX.com logoFOREX.com check 9.4 $100 1.4 info FOREX.com Review Visit Site
XTB logoXTB check 9.1 $0 info 1.00 info XTB Group Review
eToro logoeToro check 8.8 $10-$10,000 1 info eToro Review Read Review
Swissquote logoSwissquote check 8.8 $1000 N/A info Swissquote Review
AvaTrade logoAvaTrade check 8.7 $100 0.92 info AvaTrade Review Read Review
Admirals logoAdmirals check 8.5 $100 0.8 info Admiral Markets Review Read Review
Pepperstone logoPepperstone check 8.4 $200 0.77 info Pepperstone Review Read Review
XM Group logoXM Group check 8.4 $5 1.6 info XM Group Review

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Methodology

At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.

Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.

Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).

AI disclaimer

We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

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