The 5 best Forex Brokers & platforms in Bolivia – Comparison & reviews
Table of Contents
Trading forex profitably in Bolivia requires in-depth research to help you find reliable forex brokers offering the lowest spreads. This article aims to narrow the search for you by providing the five best trading platforms offering zero commissions and trading fees.
See the list of the best Forex Brokers in Bolivia:
Forex Broker: | Review: | REgulation: | Spreads: | Assets: | Advantages: | Open account: |
|---|---|---|---|---|---|---|
1. Capital.com  | CySEC, FCA, ASIC | Starting 0.0 pips variable & no commissions | 6,000+ (70+ currency pairs) | + Best platform + TradingView charts + MT4 + Leverage up to 1:500 + Best education + Personal support | Live-account from $ 20(Risk warning: 78.1% of retail CFD accounts lose money) | |
2. BlackBull Markets  | FSPR, FSCL | Starting 0.0 pips & negotiable commission per 1 lot | 500+ (64+ currency pairs) | + ECN Broker + Deep pool execution + High liquidity + Best execution + Leverage 1:500 + MT4/MT5 | Live-account from $ 200(Risk warning: 78.1% of retail CFD accounts lose money) | |
3. RoboForex  | IFSC | Starting 0.0 pips & $ 4.0 commission per 1 lot traded | 9,000+ (50+ currency pairs) | + Huge variety + Micro accounts + Free bonus program + Leverage up to 1:2000 + ECN accounts + MT4/MT5/cTrader | Live-account from $ 10(Risk warning: 78.1% of retail CFD accounts lose money) | |
4. Pepperstone  | FCA, ASIC, DSFA, SCB | Starting 0.0 pips & $ 3.5 commission per 1 lot | 1,000+ (40+ currency pairs) | + Fast execution + Large FX Broker + Good service + MT4/MT5/cTrader + TradingView Charts | Live-account from $ 200(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs) | |
5. IQ Option  | CySEC | Starting 0.1 pips variable & no commission | 500+ (25+ currency pairs) | + Easy to use + Binary Trading + Support 24/7 + Min. Deposit 10$ + Lowest spreads on main trading hours | Live-account from $ 10(Risk warning: Your capital might be at risk.) |
(5 / 5)
(4.9 / 5)
(4.8 / 5)You will save time and money using one of our suggested forex brokers. The article also reveals comprehensive information on financial regulations in Bolivia and how to trade forex.
5 best Forex Brokers & platforms in Bolivia
1. Capital.com
Capital.com distinguishes itself from other platforms for its comprehensive instructional content and cutting-edge trading tools. The forex trading platform began operations in 2016 as an international CFD brokerage.
Being a global FX broker, the trading firm has offices in countries like Australia, Gibraltar, the UK, and Cyprus.
Bolivian investors can safely trade forex on Capital.com thanks to multiple licenses from the following regulators:
- Cyprus Securities and Exchange Commission (CySEC)
- Financial Services Authority of Seychelles (FSA)
- Australian Securities and Investments Commission (ASIC)
- Financial Conduct Authority (FCA)
With a $20 minimum investment, you can start raking in profits on Capital.com. Furthermore, the brokerage has fixed the withdrawal limit sum at $50 so that even small profits can be taken out.
Initiating the payout process is straightforward, but you have to wait one business day to get your funds. In addition to that, you can withdraw your funds using the same deposit channel.
Capital.com offers commission-free investing on all accounts, with spreads starting at 0.7 pips. Additionally, deposits or withdrawals on any payment options are free of charge.
Both novice and seasoned traders can complete high-quality research using the instructional materials provided by the top FX broker. Also, forex traders in Bolivia can practice on a demo account.
In addition to this, the company offers different methods for reaching out to its customer support service. On the Contact Us page, you will find different international phone numbers to call. Alternatively, you can email the support team via [email protected].
Pros
- The account registration process is straightforward.
- Email, phone, and live chat assistance are good, with prompt and detailed responses.
- Access to more than 3,000 markets
- Live updates and price alerts regularly.
Cons
- Traders from the US are not accepted
- High overnight fees
(Risk warning: 78.1% of retail CFD accounts lose money)
2. BlackBull Markets
Located in Auckland, New Zealand, BlackBull Markets is open to traders worldwide, including Bolivia. The regulated trading platform provides access to over 50 different currency pairings and crosses.
Other tradable assets on BlackBull Markets include:
- Precious metals (i.e., silver and gold).
- Crude oil.
- Six main stock indices.
Interestingly, the commissions and trading charges are cheaper than other major competitors.
BlackBull Markets’ standard account is the only one with a spread and no commissions. The other two ECN account types, Institutional and Prime, levy a spread and a commission.
Clients new to currency trading can perfect their trading skills using educational resources, including an instructional video and trading guidelines. The forex broker also provides a glossary containing forex terms that will help new traders learn quickly.
MetaTrader 4, widely regarded as the best for trading forex, is the main trading platform available on the broker’s website. The trading platform comes with 85 preloaded technical indicators to help traders read the market properly.
Bolivian investors can download and install BlackBull Markets’ customizable MT4 & MT5 via its website. Afterward, include different indicators and even design a personal technical indicator.
BlackBull Market provides a demo account option for its new customers, which allows them to try out their platform for up to 100 days. After that, expert traders can open a real account by depositing a minimum of $200 to start trading.
Pros
- It is approved by the Financial Markets Authority in New Zealand.
- Trading managers can open MAM and PAMM accounts
- Access to the economic calendar is available under the section titled “Trading resources.”
Cons
- High minimum deposit
(Risk Warning: Your capital can be at risk)
3. RoboForex
RoboForex began offering its trading assets in 2009. With over 3.5 million users, the online broker provides its services in 169 countries, including Bolivia.
It is safe to trade forex on RoboForex thanks to its IFSC approval. In addition to that, the brokerage firm is an official partner of BMW M GmbH and of Auto Racing.
There are more than 12,000 trading instruments provided on RoboForex. This includes stocks, ETFs, precious metals, commodities, and major currency pairs.
You can trade these assets on any four trading platforms available on RoboForex.
These include:
- MetaTrader 4
- MetaTrader 5
- cTrader platform
- R StocksTrader platform, which is the broker’s proprietary software.
Prime, ECN, R StocksTrader, ProCent, and Pro are the five account categories available to customers. The Prime, ECN, and R StocksTrader accounts are commission-based, while the ProCent and Pro accounts are commission-free.
Generally, trading fees are reasonable in all accounts, and customers who trade enough quantities can also profit from incentives. There are also Islamic and demo accounts accessible for traders with Islamic restrictions and new traders.
Fee-free deposits are available via various payment options, including debit/credit cards and bank wire. You can also use Neteller, Skrill, PerfectMoney, and AdvCash to deposit money, but additional charges may apply.
If you decide to withdraw profits on each calendar month’s first and third Tuesdays, you will not be charged additional fees. However, any payout made apart from those fee-free days will require extra costs.
Pro
- Great trading experience through its unique trading platform.
- Availability of CopyFx, RoboForex’s copy trading platform.
- Affiliate fees start at $5 per lot and go up from there.
Cons
- A low number of tradable currency pairings
- Trading virtual currencies are not available on the R Trader platform.
(Risk Warning: Your capital can be at risk)
4. Pepperstone
Pepperstone has been providing forex trading assets since 2010. The reliable broker offers an increasing number of tradable markets, high-quality analysis, and support for various copy trading systems.
The following tier-1 regulatory bodies authorize Pepperstone operations:
- Australia’s ASIC (Australian Securities & Investment Commission)
- UK’s FCA (Financial Conduct Authority).
Pepperstone is an agency-execution broker that offers exceptional pricing on its Razor account. This is a great option for high-volume traders who register for Pepperstone’s Active Trader scheme.
Beginning investors and non-professionals can register for a Standard Account, a traditional kind with no commissions and industry-grade STP spreads starting at 0.6 pips on the MT4 platform.
Algorithmic investors and scalpers dominate most market activity, and Pepperstone provides a trading system that encourages their techniques. Traders may get live spreads for $7 per lot.
Pepperstone also accommodates new traders, with high-quality educational material, in-house analysis, and multilingual assistance available 24 hours a day, seven days a week.
Pros
- MetaTrader and cTrader are available to traders.
- Social trading platforms like DupliTrade and Myfxbook are also accessible.
- Up to 1:30 leverage and excellent trading execution.
Cons
- Customer support is not always accessible 24/7
- Demo trading is only for 30 days.
- Forex and CFDs are the only instruments available.
(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs)
5. IQ Option
IQ Option is a reputable binary options broker, popular for its user-friendly trading interface. The broker made its entry in 2013 as an options trading platform. (Important: Binary Options are only for professional traders and for those that are located outside of EAA countries.)
Today, Bolivian traders have access to over 300 different assets.
These include:
- Forex
- ETFs
- Stocks
- Cryptocurrencies
- Indices
- Binary Options (Only for professional traders and outside EAA countries)
The company boasts more than 48 million clients with the Cyprus Securities and Exchange Commission regulations. Rather than using a conventional online platform, IQ Option offers its customers a proprietary platform tailored to their trading requirements.
The trading platform is well-designed to be interactive. Also, the custom-made platform includes a huge chart that is quite useful for traders who want to study market circumstances.
Standard and VIP trading accounts are available. You can complete your online application in a few minutes.
After registering, you can use the demo account with $10,000 virtual funds, which you can refresh and use anytime. The deposit method is straightforward, and the minimum amount is $10.
Support for IQ Option is available via various toll-free localized phone lines. Clients can even contact the firm’s CEO and CAO personally via email. The general support email is [email protected].
Pros
- Availability of low minimum deposit while open positions with just $1.
- Easy and fast deposit and withdrawal method
- Intuitive trading platform
Cons
- No other trading platform except its unique software.
(Risk warning: Your capital might be at risk.)
What are the financial regulations in Bolivia?
The forex market in Bolivia is fast developing, making it simpler for eligible citizens to join in forex trading.
Reasons, why forex in Bolivia continues to grow, are:
- Increasing monetary stability
- Free-floating governmental rules and a more
- Reliable internet architecture.
Fortunately, the Financial System Supervisory Authority (ASFI) and the Central Bank are responsible for regulating local forex brokers and other forex activities. Therefore, both regulators are tasked with establishing and maintaining a regulatory framework for the forex market.
Bolivian investors have access to various foreign and local brokers who offer forex trading services.
When comparing brokers, keep the following things in mind:
- The commodities to which the broker has access.
- Territories where the broker’s services are provided.
- Status of licensure and regulation on a local and worldwide level.
- Minimum balances on accounts.
- Fees and other costs associated with transactions.
Furthermore, Bolivian traders must have a sound investment strategy and appropriate risk management techniques to limit their trading dangers.
Security for traders in Bolivia
Forex trading can be extremely risky, especially when trading with fraudulent and unregulated online brokers. While some brokers are not entirely scammers, they only offer high leverages that can easily wipe out your funds in one trade.
Regulated brokers provide reasonable leverage and low spread. With these two features, you can easily make profits while trading forex.
Looking for forex brokers that provide negative balance protection is also important. This feature prevents clients from making multiple losses while trading.
Thanks to the negative balance protection feature, it is impossible to owe your broker even if your trades suffer losses beyond the initial amount you deposit.
Note that all brokers do not provide this feature. Therefore, you should thoroughly investigate prospective forex brokers to know which of their features and services best suit your needs.
Is it legal to trade Forex in Bolivia?
Yes! Trading forex is legal in Bolivia. The foreign exchange market is regulated by the Autoridad de Supervisión del Sistema Financiero (ASFI).
It is important to trade with local brokers approved by the regulatory body. Otherwise, check the online broker if international agencies license them.
Fortunately, the forex trading platforms in our top 5 are licensed and controlled by different foreign regulators. We do not provide references to forex brokers prohibited in Bolivia.
(Risk warning: 78.1% of retail CFD accounts lose money)
How to trade Forex in Bolivia – Tutorial
Trading forex is still a new investment venture in Bolivia. As the Bolivian government acquires a better grasp of how currency investment affects economic growth, rules, and limits on brokers, leverage caps, and other issues may alter in the future years.
In the past, currency trading was restricted to a select group of individuals and organizations. This is because the amount of money needed to participate was substantially more than any other investment type.
However, the rise of computerized trade activities and margin balances has modified the rules. Although huge banks and financial organizations still account for approximately 75% of forex trading, consumers may now trade in forex with as little as $1,000 owing to leverage.
Despite these developments, earning big profits on heavily leveraged currency exchanges is tough and requires time and skill. Here are some steps to take once you decide to trade forex successfully in Bolivia:
1. Open account for Bolivia traders
The first step is to register a forex trading account with a reputable online broker.
You can do this by providing basic information such as:
- Personal details include traders’ names, addresses, dates of birth, telephone numbers, and emails.
- Nationality
- Valid ID card (Bolivian Identification Number)
- Account currency type
- Log password
You might be wondering why brokerage firms want so much information. The simple solution is to follow basic regulations provided by top regulatory agencies. These regulatory frameworks aim to give some safety or guarantee to account holders.
2. Use a demo account or real account
Demo accounts are available on many forex platforms to help traders practice their trading techniques using virtual funds. Before real trading begins, familiarize yourself with your broker’s features through the demo account.
3. Deposit money
Forex traders are frequently provided with alternatives When making deposits on online trading platforms. However, using an approved credit card in Bolivia remains the most convenient method for making deposits.
Automated credit card transactions have been more efficient and safe with the emergence of online payment systems in Bolivia. Therefore, investors should log in to their FX accounts, enter their credit card details, and the payments will be available within one working day.
Individuals can also deposit monies into their brokerage accounts using an electronic check, a current bank account, or a wire transfer. In addition, third-party payment systems such as PayPal, Skrill, and Neteller are good choices for funding a Bolivia trading account.
Notice:
The payment methods are depending on your country of residence. Forex Brokers are offering all kinds of methods separately for each country.
4. Use analysis and strategies
Due to the unpredictability of forex, currency traders utilize a technical, analytical method to benefit from their market activities. Technical analysis is a form of currency research that employs historical charting trends and markers to forecast how an asset’s price will change.
Apart from using technical analysis to decide whether to sell or buy a currency pair, it is important to learn basic trading strategies. A successful forex trading strategy consists of numerous important elements:
- Position sizing: After using analysis to decide what you should trade on, the next step is to establish the size of every position. This will help you manage the risk they incur on each transaction.
- Entry and Exit points: Traders must set guidelines for when to take positions or exit them. This involves executing a short or long trade in a particular currency pair and quitting a trade to take profits or avoid losses.
- Develop complex trading strategies: Bolivian traders should have rules for buying and selling FX pairs, such as which execution techniques to use.
Traders might consider creating trading systems in tools like MetaTrader, which enable rule-following to automate. Furthermore, these programs allow traders to backtest trading techniques to determine how well they might have worked in the past.
5. Make profits
Making profits in forex is possible, but you should keep in mind that it is also possible to lose all your funds. The market is very volatile, so gaining mastery over it requires skill, continuous research, and learning.
(Risk warning: 78.1% of retail CFD accounts lose money)
Conclusion: The best Forex Brokers are available in Bolivia
There are several advantages to currency trading. Nevertheless, as you will find in any industry, risks are involved, and you should not start without due diligence.
It is wrong to treat forex trading as a ‘get-rich-quick’ scheme. Instead, it is a long-term investment opportunity requiring expertise and a thorough awareness of how world events impact the market.
While this article has addressed the best forex brokers in Bolivia, you also need additional research to find the best for you. Further research is even required if you are new to the foreign exchange market.
1. Capital.com
2. BlackBull Markets
3. RoboForex
4. Pepperstone
5. IQ Option
FAQ – The most asked questions about Forex Broker Bolivia:
Is forex trading permissible for traders in Bolivia?
Yes, traders in Bolivia can trade forex just as other nations can. They can enjoy trading their favorite forex pairs by signing up with brokers that extend their trading services in the country. To avail yourselves of the best forex trading services, you can sign up with one of the following brokers.
BlackBulls Markets
IQ Option
Pepperstone
RoboForex
Capital.com
Which forex brokers in Bolivia offer fast execution to traders?
The five reviewed brokers offer traders fast execution. Thus, when traders use one of these platforms for forex trading, they can place buy and sell orders instantly. It saves forex traders from losses due to delays, as forex trading is highly volatile. Traders can get the best services with these forex brokers. Besides, they offer uncountable underlying assets that traders can trade.
How can a trader in Bolivia make winning forex trades?
A trader in Bolivia can make winning forex trades by planning and strategizing every move. The traders can conduct proper research when trading on any platform. They can also utilize several trading tools and indicators that the broker offers to place winning trades. In addition, trading platforms, such as the five discusses here, offer several trading journals and webinars to traders, which further helps enhance their forex trading knowledge.
Last Updated on January 27, 2023 by Arkady Müller
