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Best Forex Brokers Ecuador 2023

Marcus Taylor

Written by Marcus Taylor

December 27, 2022

Here are the best forex brokers accepting residents of Ecuador as clients.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% 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.
  • IG
    - 9.9/10 Overall
  • FOREX.com
    - 9.3/10 Overall
  • XTB - 9/10 Overall
  • eToro - 8.8/10 Overall
  • Swissquote - 8.7/10 Overall
  • AvaTrade - 8.6/10 Overall
  • Capital.com - 8.4/10 Overall
  • XM Group - 8.4/10 Overall
  • Admiral Markets - 8.3/10 Overall
  • Tickmill - 7.9/10 Overall
  • HFM - 7.7/10 Overall
  • HYCM (Henyep) - 7.7/10 Overall
  • Eightcap - 7.6/10 Overall
  • ThinkMarkets - 7.4/10 Overall
  • easyMarkets - 7.3/10 Overall
Overall Rating
9.9 / 10
Minimum Initial Deposit
£250.00
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.86 (September 2022)
All-in Cost EUR/USD - Active0.5957 (September 2022)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1974
Publicly Traded (Listed)Yes
BankYes
Tier-1 Licenses7
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)19537
Forex Pairs (Total)100
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)33
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes
Overall Rating
9.3 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.0 (July 2022)
All-in Cost EUR/USD - Active1.0 (July 2022)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1999
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses4
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)5500
Forex Pairs (Total)91
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)203
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes
Overall Rating
9 / 10
Minimum Initial Deposit
$0
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.07 (Q3 2022)
All-in Cost EUR/USD - Active1.04 (Q3 2022)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2002
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses1
Tier-2 Licenses3
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)12000
Forex Pairs (Total)49
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)39
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes
Overall Rating
8.8 / 10
Minimum Initial Deposit
$10-$10,000
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1 (August 2021)
All-in Cost EUR/USD - ActiveN/A
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2007
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)3458
Forex Pairs (Total)49
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)66
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)No
Economic CalendarYes
Overall Rating
8.7 / 10
Minimum Initial Deposit
$1000
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - StandardN/A
All-in Cost EUR/USD - ActiveN/A
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1996
Publicly Traded (Listed)Yes
BankYes
Tier-1 Licenses4
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)466
Forex Pairs (Total)78
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)49
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes
Overall Rating
8.6 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.91 (Aug 2020)
All-in Cost EUR/USD - Active0.61 (Aug 2020)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2006
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses4
Tier-2 Licenses3
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)1260
Forex Pairs (Total)55
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)90
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes
Overall Rating
8.4 / 10
Minimum Initial Deposit
$20
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Average Risk
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.6 (July 2021)
All-in Cost EUR/USD - Active0.6 (July 2022)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2016
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)6000
Forex Pairs (Total)138
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)75
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)No
Economic CalendarYes
Overall Rating
8.4 / 10
Minimum Initial Deposit
$5
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.6 (Aug 2020)
All-in Cost EUR/USD - Active0.8 (Aug 2021)
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2009
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)1372
Forex Pairs (Total)57
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes
Overall Rating
8.3 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.8 (July 2021)
All-in Cost EUR/USD - Active0.7 (July 2021)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2001
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)8425
Forex Pairs (Total)50
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Here are some additional brokers worth checking out.

AvaTrade

AvaTrade are amongst the most reputable and widely used online financial brokers with around 200,000 registered users up to 2017. The company are multinational, with regional offices catering for customers around the world. The brokerage is regulated internationally by the BVI Financial Services Commission and within the EU by the Central Bank of Ireland. The company's website can be viewed in over 15 languages, with the most suitable for traders from Ecuador and other South American countries being the Spanish language Chilean version of the website.

AvaTrade have a variety of platforms on offer. AvaOptions is specifically targeted towards traders who want to trade a variety of option types, including spot, calls and puts. Over 40 Forex pairs and commodities are available through this platform. Customers wishing to use the industry standard can open an account with AvaTrade and select the MetaTrader 4 platform for trading Forex. Other platforms include AvaTradeAct, which allows clients to access to more than 250 financial instruments including bonds, shares, stocks, Forex, commodities, indices, and cryptocurrencies.

The company's website offers a wealth of educational resources for traders such as free eBooks, webinars, educational videos, articles, and market indicators. The company also hosts a dedicated learning platform, SharpTrader, for its customers. Furthermore, traders can apply for a free 21-day demo account to put their trading skills to the test. AvaTrade accepts two deposit methods globally, including wire transfer (minimum US$500) and debit/credit card (minimum US$100). As well as USD, customers from Chile can select GBP, AUD or EUR as the base currency for their account.

XTB

XTB was established as X-Trade in 2002, when they offered leveraged currency trading services to Polish clients. Their operation soon expanded, first to the Czech Republic, and then all around Europe. Now known as XTB, the firm have extended their operations to cover many countries around the world, and one of the most recent locations is Latin America, where their regional offices are situated in Chile and Uruguay. Customers from Ecuador can select the Latin American version of the XTB website, which is in Spanish, the official language of Ecuador.

The global subsidiary, XTB International Limited, is regulated by the International Financial Services Commission which is based in Belize. XTB's operations around the world are also subject to supervision from some of the world’s top regulatory authorities, including the Financial Conduct Authority (FCA) in the UK, the National Securities Market Commission (CNMV) in Spain, the German Federal Financial Supervisory Authority (BaFIN), and Banco Central del Uruguay (BCU).

This demonstrates XTB's commitment to the customer, as they have put in place processes to ensure they meet the high regulatory standards that are required of them. XTB offers award-winning technology to facilitate their clients' trading requirements. The powerful xStation 5 enables ultra-fast order execution, and offers features such as depth of market, social trading options, an economic calendar and access to market insights. If preferred, XTB clients can instead opt for the widely used MetaTrader 4.

The platforms can be downloaded as an app for those who want to manage their trading activity from mobile devices, including smartwatches. Traders from Ecuador can also benefit from a dedicated Spanish customer service team, who are available to provide support 24 hours a day, 6 days a week. Another feature offered to clients in Latin America is access to free academy standard training. The learning materials are provided in Spanish, and the program is comprehensive and suitable for all levels. Just some of the top financial instruments available to customers from Ecuador include the US30, commodities such as silver and gold, and cryptocurrencies such as bitcoin, which can be traded as currency pairs, for example, BTCUSD.

BrokerNotes.co 2023 Overall Rankings

To recap, here are our top forex brokers for 2023, sorted by Overall ranking.

Company Accepts EC Residents Overall Rating Minimum Initial Deposit Average Spread EUR/USD - Standard Trust Score Tradeable Symbols (Total) Read Review Visit Site
IG logoIG check 9.9 £250.00 0.86 (September 2022) 99 19537 IG Review Visit Site
Saxo Bank logoSaxo Bank check 9.7 €2,000 0.9 (September 2022) 99 60000 Saxo Bank Review
Interactive Brokers logoInteractive Brokers check 9.7 $0 0.6 (Aug 2022) 99 8500 Interactive Brokers Review
CMC Markets logoCMC Markets check 9.6 $0 0.51 (August 2022) 99 12377 CMC Markets Review
TD Ameritrade logoTD Ameritrade check 9.5 $0 1.25 pips (September 2022) 99 0 TD Ameritrade Review
FOREX.com logoFOREX.com check 9.3 $100 1.0 (July 2022) 99 5500 FOREX.com Review Visit Site
City Index logoCity Index check 9.2 £100.00 1.0 (July 2022) 99 13500 City Index Review
XTB logoXTB check 9 $0 1.07 (Q3 2022) 95 12000 XTB Group Review
eToro logoeToro check 8.8 $10-$10,000 1 (August 2021) 93 3458 eToro Review
Swissquote logoSwissquote check 8.7 $1000 N/A 99 466 Swissquote Review
AvaTrade logoAvaTrade check 8.6 $100 0.91 (Aug 2020) 93 1260 AvaTrade Review
FXCM logoFXCM check 8.5 Starts from $50 1.38 (Q2 2022) 96 441 FXCM Review
Plus500 logoPlus500 check 8.5 €100 0.6 (as of Aug 2018) 98 2800 Plus500 Review
Capital.com logoCapital.com check 8.4 $20 0.6 (July 2021) 77 6000 Capital.com Review
XM Group logoXM Group check 8.4 $5 1.6 (Aug 2020) 90 1372 XM Group Review
Pepperstone logoPepperstone check 8.4 $200 0.77 (September 2022) 93 1200 Pepperstone Review
OANDA logoOANDA check 8.4 $0 1.26 (5/22-5/27/22) 92 124 OANDA Review
Admiral Markets logoAdmiral Markets check 8.3 $100 0.8 (July 2021) 87 8425 Admiral Markets Review
FP Markets logoFP Markets check 8.3 $100 AUD 1.2 (August 2022) 86 10000 FP Markets Review
IC Markets logoIC Markets check 8.2 $200 0.62 (August 2022) 86 3583 IC Markets Review
Markets.com logoMarkets.com check 8.2 $100 1.9 (as of Oct 2019) 98 2179 Markets.com Review
FxPro logoFxPro check 8.1 $100 1.51 (August 2020) 90 2249 FxPro Review
Fineco Bank logoFineco Bank check 7.9 $0 N/A 92 126 Fineco Bank Review
Tickmill logoTickmill check 7.9 $100 0.51 (August 2022) 82 295 Tickmill Review
BlackBull Markets logoBlackBull Markets check 7.9 $0 0.827 (August 2022) 74 26000 BlackBull Markets Review
DooPrime logoDooPrime check 7.8 $100 -1 84 10000 DooPrime Review
BDSwiss logoBDSwiss check 7.8 $100-$5000 (depending on account type) 1.6 (08/10/22) 83 1081 BDSwiss Review
TMGM logoTMGM check 7.8 $100 0.96 (July 2021) 79 12000 TMGM Review
HFM logoHFM check 7.7 $5 1.2 (August 2021) 85 3500 HFM Review
FlowBank logoFlowBank check 7.7 $0.00 N/A 77 408600 FlowBank Review
HYCM (Henyep) logoHYCM (Henyep) check 7.7 $100 0.6 (Sept 2021) 86 245 HYCM Review
Vantage logoVantage check 7.7 $50 1.22 (August 2021) 83 1000 Vantage Review
Trading 212 logoTrading 212 check 7.6 EUR 10 N/A 77 1785 Trading 212 Review
Eightcap logoEightcap check 7.6 $100 1.0 (Aug 2022) 87 326 Eightcap Review
Trade Nation logoTrade Nation check 7.5 $0 0.6 83 601 Trade Nation Review
Moneta Markets logoMoneta Markets check 7.5 $50 1.27 (September 2022) 71 965 Moneta Markets Review
ThinkMarkets logoThinkMarkets check 7.4 $250.00 N/A 86 1674 ThinkMarkets Review
VT Markets logoVT Markets check 7.4 $200 1.2 (September 2021) 71 168 VT Markets Review
ACY Securities logoACY Securities check 7.4 $50 1.2 (Sept 2021) 75 1600 ACY Securities Review
easyMarkets logoeasyMarkets check 7.3 $100 0.9 (as of Mar 2020) 84 199 a href="/reviews/easymarkets">easyMarkets Review
RoboForex (RoboMarkets) logoRoboForex (RoboMarkets) check 7.3 $100 1.4 (Jan 2022) 69 12000 Roboforex (RoboMarkets) Review
IronFX logoIronFX check 7.2 $50 1.2 84 340 IronFX Review
Exness logoExness check 7.2 $1 0.9 (as of May 19) 74 112 Exness Review
Spreadex logoSpreadex check 7.2 $0 -1 70 2000 Spreadex Review
Trade360 logoTrade360 check 7.1 $250 N/A 75 1062 Trade360 Review
AxiTrader logoAxiTrader check 7.1 0 N/A 83 175 Axitrader Review
GKFX logoGKFX check 7.1 $0 N/A 66 354 GKFX Review
Vestle logoVestle check 7.1 -1 -1 79 750 Vestle Review
OctaFX logoOctaFX check 7 $25 0.6 (August 2021) 67 80 OctaFX Review
FXOpen logoFXOpen check 7 $100 N/A 80 87 FXOpen Review
TeleTrade logoTeleTrade check 7 $100 -1 67 500 Teletrade Review
FXPrimus logoFXPrimus check 6.9 $100 N/A 69 140 FXPrimus Review
Forex4you logoForex4you check 6.9 $0 -1 62 150 Forex4you Review
LegacyFX logoLegacyFX check 6.9 $500 0 75 425 LegacyFX Review
GBE brokers logoGBE brokers check 6.8 $500 -1 69 500 GBE Brokers Review
Alpari logoAlpari check 6.8 $20 N/A 67 105 Alpari Review
TopFX logoTopFX check 6.7 Depends on payment method N/A 67 655 TopFX Review
Libertex (Forex Club) logoLibertex (Forex Club) check 6.7 $10 -1 72 300 Libertex Review
ATFX logoATFX check 6.6 $500 -1 70 150 ATFX Review
UFX logoUFX check 6.6 $100 3 (Jan 2021) 62 619 UFX Review
Xtrade logoXtrade check 6.5 $250 -1 80 142 Xtrade Review
Tradeo logoTradeo check 6.4 $200 -1 67 256 Tradeo Review

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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.

About the Editorial Team

Marcus Taylor
Marcus Taylor

BrokerNotes was founded in 2014 by Marcus Taylor, founder and CEO of Venture Harbor, a venture studio in Oxford that develops innovative online tools & technology across a range of sectors.


Reink Media Group is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.
Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. Please read the full Risk Disclosure.

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