Is Forex Legal in Brazil?

Forex trading in Brazil is fully regulated by the National Monetary Council (CMN) and implemented by the Central Bank of Brazil (BCB). Any foreign exchange operation—whether purchases, sales, swaps, or transfers—must be conducted through institutions authorized by the BCB, ensuring transparency and compliance with monetary policy (1).

Under Law No. 14,286/2021 and BCB Resolution No. 277/2022, the form of entering into a foreign exchange operation is free, but only banks and financial institutions licensed by the Central Bank may carry out these transactions. Individuals and legal entities may engage in FX trades without amount limits as long as their counterparty is an authorized agent (1).

"It is important to note that, at present, there are no authorized CFD or Forex offerings in Brazil, and any public offer of Forex-related products without CVM or Central Bank authorization is considered illegal." (2)

While the Central Bank governs the mechanics and licensing of FX operations, the Brazilian Securities and Exchange Commission (CVM) monitors and alerts the public about unregistered or fraudulent Forex schemes. To date, the CVM has not registered any CFD or Forex product listings, making any unauthorized offer illegal under securities law (2).

Source:
https://www.bcb.gov.br/en/financialstability/fxpolicy
https://www.gov.br/cvm/pt-br/assuntos/noticias/2024/cvm-lanca-versao-atualizada-da-cartilha-sobre-cfd-forex-durante-a-semana-mundial-do-investidor-2024

Last updated: 17-05-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.