| Updated: April 28, 2025Peruvians who are looking for reputable Forex brokers that cater to traders from Peru can take a look at the list of brokers we have compiled for our readers. You can be certain that all of the names that have made our list are reputable brands that offer competitive trading conditions to their clients. Our trading experts have opened live trading accounts with every broker listed below, testing the full range of features that brands can offer to Peruvian traders. Before diving deeper into the Forex scene in Peru, we would like to cover the current regulatory landscape in the country.
Fusion Markets74-89% of retail's CFD accounts lose money
FP Markets73.85% of retail investor accounts lose money
ActivTrades73% of retail investor accounts lose money
BlackBull MarketsTrading leveraged products is risky
Global Prime74-89% of retail CFD accounts lose money
Pepperstone75.5% of retail investor accounts lose moneyPeruvian Forex Brokers Ranked by Trustpilot Score
| Forex Broker | Trustpilot Reviews | |
|---|---|---|
| 1. FP Markets | 7,360 | 4.8 ⭐ |
| 2. BlackBull Markets | 1,063 | 4.8 ⭐ |
| 3. ActivTrades | 1,360 | 4.6 ⭐ |
| 4. Fusion Markets | 1,977 | 4.5 ⭐ |
| 5. Pepperstone | 2,901 | 4.5 ⭐ |
| 6. Global Prime | 171 | 4.5 ⭐ |
| 7. Axi | 2,668 | 4.4 ⭐ |
| 8. FxPro | 656 | 4.3 ⭐ |
| 9. Eightcap | 2,791 | 4.2 ⭐ |
| 10. CMC Markets | 2,133 | 4.1 ⭐ |
Peruvian Forex Brokers Ranked by Spread Commission
| Forex Broker | EURUSD | USDJPY | EURGBP | GBPUSD |
|---|---|---|---|---|
| 1. Fusion Markets | 0.93 avg (Classic) | 1.7 avg (Classic) | 1.09 avg (Classic) | 1 avg (Classic) |
| 2. FP Markets | 1.1 | 0.30 | 0.20 | 1.2 |
| 3. ActivTrades | 0.50 | 0.50 | 0.80 | 0.80 |
| 4. BlackBull Markets | 0.1 | 0.2 | 0.7 | 0.4 |
| 5. Axi | 1.2 | 1.4 | 1.1 | 1.2 |
| 6. Pepperstone | 1.00 (min) | 1.0 | 1.2 | 1.00 (min) |
| 7. Global Prime | 0.96 avg (Standard) | 1.47 avg (Standard) | 1.19 avg (Standard) | 1.12 avg (Standard) |
| 8. CMC Markets | 0.5 | 0.7 | 0.8 | 0.9 |
| 9. Eightcap | 1.00 (min) | 1.1 | 1 | 1 |
| 10. FxPro | 0.25 | 0.38 |
| 0.37 |
Peruvian Forex Brokers Ranked by Commission per Lot
| Forex Broker | Commission per lot |
|---|---|
| 1. Fusion Markets | $0 Classic Account, $4.50 round turn on Zero Account |
| 2. FP Markets | $0 Standard Account; $6 round turn on Pro Account |
| 3. ActivTrades | $0 |
| 4. BlackBull Markets | $0 Standard; $6 per lot Prime; $4 per lot Institutional |
| 5. Axi | $0 on Standard Account; $7 round trip on Pro Account |
| 6. Pepperstone | $0 (Standard Account), $7 round-turn (Razor Account) |
| 7. Global Prime | $0 Standard Accounts; $7 round turn on Raw Accounts |
| 8. CMC Markets | $0.02 per share with a $10 minimum for US shares; 0.10% for other shares with a €/£9 minimum |
| 9. Eightcap | $0 on Standard and TradingView Accounts; $7 round turn on Raw Accounts |
| 10. FxPro | $0 on Standard Account; $3.5 per side on Raw+ and Elite Accounts |
Financial services in Peru, including Forex trading, are mainly regulated by the Central Reserve Bank of Peru (Banco Central de Reserva del Perú, or BCRP) and Superintendence of Banks, Insurance, and Pension Funds Administrators (Superintendencia de Banca, Seguros y AFP, SBS). Meanwhile, if currencies are traded in the form of securities or derivatives, they will fall under the regulations of the Superintendencia del Mercado de Valores (SMV). To learn more about the local regulators, you may visit their official websites at www.bcrp.gob.pe, www.sbs.gob.pe, and www.gob.pe/smv. To stay abreast of the latest news about Forex regulations in Peru, we recommend Peruvians follow the local regulators on X, searching for the @SBSPERU, @bcrpoficial, and @SMVPeruOficial handles on the X app.
Top 10 FX Brokers in Peru
Fusion Markets Broker Details Regulators ASIC, FSA (Seychelles), VFSC (Vanuatu) Min Deposit $0 Trading Platforms MetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade, TradingView Trustpilot Rating 4.5 out of 1,977 reviews Number of CFD Forex Pairs to Trade 80+ Leverage Forex & Metals CFDs: 1:30 (1:500 for forex and metals via VFSC)
Index CFDs: 1:5
Cryptocurrencie CFDs: 1:2 (ASIC), 1:10 (FSA, VFSC)Spread EURUSD: 0.93 avg (Classic)
USDJPY: 1.7 avg (Classic)
EURGBP: 1.09 avg (Classic)
GBPUSD: 1 avg (Classic)Forex Commission per Lot per Trade $0 Classic Account, $4.50 round turn on Zero Account Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VNPay, DuitNow, XPay, DragonPay, VAPay, FasaPay, AstroPay, PayID, Jetonbank, Sticpay, Interac, LuqaPay, Zotapay, MiFinity Withdrawal Methods Visa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay Key Pros
- Offers some of the lowest spreads
- ASIC clients enjoy a negative balance protection
- Supports popular trading platforms
- Offers two copy trading platforms
- Supports fiat and crypto payment solutions
Key Cons
- Does not offer investor protection
- Traders outside Australia have no negative balance protection
- Cannot set up an account in a minor currency
- Has no FCA license
FP Markets Broker Details Regulators ASIC, CySEC, FSA (Seychelles), FSCA, FSA (St. Vincent and the Grenadines) Min Deposit $50 (AU$100) Trading Platforms MetaTrader4, MetaTrader5, WebTrader, IRESS, cTrader, TradingView Trustpilot Rating 4.8 out of 7,360 reviews Number of CFD Forex Pairs to Trade 70+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: Up to 1:2 (Retail); Up to 1:5 (Pro)Spread EURUSD: 1.1
USDJPY: 0.30
EURGBP: 0.20
GBPUSD: 1.2Forex Commission per Lot per Trade $0 Standard Account; $6 round turn on Pro Account Deposit Methods Visa, Mastercard, Neteller, Bank Transfer, Skill, Sticpay, Fasapay, Virtual Pay, Perfect Money, Pagsmile, Dragonpay, Crypto, Apple Pay, Google Pay, Online Banking, Broker to Broker, PayPal, XPay, Rapyd Withdrawal Methods Visa, Mastercard, Bank Wire, Neteller, Skrill, Paytrust88, PayPal Key Pros
- Offers plenty of educational trading tools
- Broker with competitive spreads
- Allows easy trading on the go
- Regulated by reputable authorities
- Offers a decent number of currency pairs
Key Cons
- Supported trading platforms are a tad outdated
- Could expand selection of products
- No negative balance and investor protection for clients under ASIC
ActivTrades Broker Details Regulators FCA (UK), CMVM (Portugal), CVM (Brazil), SCB (Bahamas), FSC (Mauritius) Min Deposit $0 Trading Platforms Activtrader, TradingView, MT4, MT5 Trustpilot Rating 4.6 out of 1,360 reviews Number of CFD Forex Pairs to Trade 54 Leverage Forex & Metals CFDs: 1:30 (1:400 Bahamas)
Index CFDs: 1:20 (1:200 Bahamas)
Cryptocurrencie CFDs: 1:2 (1:20 Bahamas)Spread EURUSD: 0.50
USDJPY: 0.50
EURGBP: 0.80
GBPUSD: 0.80Forex Commission per Lot per Trade $0 Deposit Methods Visa, Mastercard, PayPal, Apple Pay, Google Pay, Skrill, Neteller, Bank Transfer Withdrawal Methods Visa, Mastercard, PayPal, Skrill, Neteller, Bank Transfer Key Pros
- Holds an FCA license since 2009
- Safeguards all traders with negative balance protection
- Stores customer funds at first-tier banks like Barclays and Lloyd’s
- Supports free PayPal deposits and withdrawals
Key Cons
- Additional fees on deposits with cards
- Charges administrative fees after 50 weeks of inactivity
BlackBull Markets Broker Details Regulators SFSA (No. SD045), FMA (No. FSP403326), FSA Min Deposit $0 (Standard)$2,000 (Prime)$20,000 (Institutional) Trading Platforms MetaTrader4, MetaTrader5, TradingView, cTrader, MT WebTrader, BlackBull Shares, BlackBull CopyTrader, BlackBull Trade, BlackBull Invest, ZuluTrade Trustpilot Rating 4.8 out of 1,063 reviews Number of CFD Forex Pairs to Trade 70+ Leverage Forex & Metals CFDs: 1:500
Index CFDs: 1:500
Cryptocurrencie CFDs: 1:500Spread EURUSD: 0.1
USDJPY: 0.2
EURGBP: 0.7
GBPUSD: 0.4Forex Commission per Lot per Trade $0 Standard; $6 per lot Prime; $4 per lot Institutional Deposit Methods Visa, Mastercard, Neteller, Airtm, Skrill, Bank Transfer, HexoPay, American Express, POLi, Payment Asia, Help2Pay, FXPay, Fasapay, China Union Pay, Boleto, AstroPay, Beeteller, Bitcoin, Ethereum, Tether, Ripple, Litecoin, Bitcoin Cash, Chainlink, USD Coin, Stellar Withdrawal Methods Visa, Mastercard, Bank Transfer, Airtm, Skrill, Neteller, American Express, POLi, HexoPay, Payment Asia, Help2Pay, FXPay, China Union Pay, Boleto, Fasapay, Beeteller, AstroPay, Bitcoin, Litecoin, Bitcoin Cash, Tether, Ripple, Stellar, Chainlink, Ethereum, USD Coin Key Pros
- Uses proprietary copy-trading platform
- Swap-free trading via ECN Standard and Prime accounts
- Multi-platform support
- Provides a 24/7 customer support service
- Great Education Hub for traders looking to hone their skills
Key Cons
- High commissions per lot on Prime and Institutional accounts
- Charges a $5 fee on withdrawals
Axi Broker Details Regulators ASIC, FCA, CySEC, DFSA, FSA (Saint Vincent and the Grenadines) Min Deposit $0 Trading Platforms MetaTrader4, MT4 WebTrader, Axi Mobile Trustpilot Rating 4.4 out of 2,668 reviews Number of CFD Forex Pairs to Trade 80 Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 1.2
USDJPY: 1.4
EURGBP: 1.1
GBPUSD: 1.2Forex Commission per Lot per Trade $0 on Standard Account; $7 round trip on Pro Account Deposit Methods Visa, Mastercard, Bank Transfer, Neteller, Skrill, AstroPay, Fasapay, Przelewy24, Boleto, Pix, Bitcoin, Ethereum, Ripple, Litecoin, Tether, Stellar, POLi, iDEAL, Sofort, Giropay Withdrawal Methods Mastercard, Visa, Bank Transfer, Przelewy24, Fasapay, Skrill, AstroPay, Pix, Boleto, Neteller, Bitcoin, Ripple, Ethereum, Litecoin, Tether, Stellar Key Pros
- Provides multilingual customer support
- Standard and Pro accounts available in 10 base currencies
- No minimum deposit requirements on Pro and Standard accounts
- Over 70 FX pairs tradable from zero pips
- Swift order execution and tight spreads
Key Cons
- A limited choice of trading platforms
- Below-average number of tradable symbols
Pepperstone Broker Details Regulators UK FCA (No.684312), CySEC (No. 388/20), ASIC (No. 414530), BaFin (No.151148), DFSA, CMA, SCB (Bahamas) Min Deposit $0 Trading Platforms TradingView, MetaTrader4, MetaTrader5 Trustpilot Rating 4.5 out of 2,901 reviews Number of CFD Forex Pairs to Trade 90+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 1.00 (min)
USDJPY: 1.0
EURGBP: 1.2
GBPUSD: 1.00 (min)Forex Commission per Lot per Trade $0 (Standard Account), $7 round-turn (Razor Account) Deposit Methods Visa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, Skrill Withdrawal Methods Visa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, Skrill Key Pros
- Winner of multiple industry awards
- Commission-free FX trades via standard accounts
- Over 1,200 instruments across all major asset classes
- Competitive spreads on FX trades via Razor accounts
- Seamless withdrawals within 1 to 3 workdays
Key Cons
- A somewhat limited range of deposit and withdrawal options
- High swap rates on overnight positions
Global Prime Broker Details Regulators ASIC (No. 385620), VFSC (No. 40256) Min Deposit $0 Trading Platforms MetaTrader4, MT4 Webtrader, MT4 Android, GP Copy Trustpilot Rating 4.5 out of 171 reviews Number of CFD Forex Pairs to Trade 56 Leverage Forex & Metals CFDs: 1:500 (1:30 for ASIC entity)
Index CFDs: 1:100 (1:20 for ASIC entity)
Cryptocurrencie CFDs: Up to 1:2 (ASIC); Up to 1:5 (Pro and VFSC)Spread EURUSD: 0.96 avg (Standard)
USDJPY: 1.47 avg (Standard)
EURGBP: 1.19 avg (Standard)
GBPUSD: 1.12 avg (Standard)Forex Commission per Lot per Trade $0 Standard Accounts; $7 round turn on Raw Accounts Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Gate8, Dragonpay, Fasapay, VNPay, Pagsmile, BPay, POLi, AstroPay, Bank Transfer, Interac, Perfect Money, PayID, Jeton, MiFinity, XPay, Crypto Withdrawal Methods Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies
Key Pros
- Overseen by a top-tier financial regulator (ASIC)
- No fees on deposits and withdrawals
- Low fees for FX trading
- Streamlined sign-up process
- A broad range of currency pairs
Key Cons
- Could use more trading platforms
- A limited range of educational resources
- Does not offer Islamic or cent accounts
CMC Markets Broker Details Regulators ASIC, MAS, FCA, BaFin, CIRO Min Deposit $0 Trading Platforms Proprietary, Next Generation (proprietary), MetaTrader4 Trustpilot Rating 4.1 out of 2,133 reviews Number of CFD Forex Pairs to Trade 330+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.5
USDJPY: 0.7
EURGBP: 0.8
GBPUSD: 0.9Forex Commission per Lot per Trade $0.02 per share with a $10 minimum for US shares; 0.10% for other shares with a €/£9 minimum Deposit Methods Visa, Mastercard, Maestro, Online Banking, Bank Transfer, PayPal, PayID, Online Bill Payment, PayNow, Inward Telegraphic Transfer, Checks Withdrawal Methods Visa, Mastercard, PayPal, Bank Transfer, Electronic Funds Transfer (EFT) Key Pros
- A reputable brand publicly listed on the LSE
- One of the first online forex brokers
- Covers an extensive selection of currency pairs (330+)
- Offers a proprietary trading platform (Next Generation)
- Enables smooth mobile trading
Key Cons
- Automated trading available only on MetaTrader4
- Fees on stock CFDs can be high
- Supports a limited number of withdrawal methods
Eightcap Broker Details Regulators SCB (No. SIA-F220), ASIC (No.391441), CySEC (No. 246/14), FCA (No. 921296) Min Deposit $100 Trading Platforms MetaTrader4, MetaTrader5, WebTrader, TradingView, Capitalise.ai, FlashTrader Trustpilot Rating 4.2 out of 2,791 reviews Number of CFD Forex Pairs to Trade 50+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 1.00 (min)
USDJPY: 1.1
EURGBP: 1
GBPUSD: 1Forex Commission per Lot per Trade $0 on Standard and TradingView Accounts; $7 round turn on Raw Accounts Deposit Methods Visa, PayPal, Mastercard, Wire Transfer, Neteller, Skrill, Tether, Bitcoin, BPAY, Dragonpay, Fasapay, Interac, Pix, UnionPay Withdrawal Methods Mastercard, Visa, PayPal, Skrill, Neteller, Bitcoin, Tether, Wire Transfers, BPAY, Fasapay, Pix, Interac, UnionPay Key Pros
- Commission-free FX trading via standard accounts
- Spreads from 0 pips on major currency pairs
- Accepts cryptocurrency deposits
- Fantastic variety of deposit and withdrawal methods
- Insights section with webinars, trade ideas, and weekly forecasts
Key Cons
- Below-average range of tradable instruments
- Crypto withdrawals incur transaction fees
FxPro Broker Details Regulators FCA (No. 45052), CySEC (No. 078/07), SCB (No. SIA-F184), FSCA (No.45052) Min Deposit $100 Trading Platforms MetaTrader4, MetaTrader5, cTrader, FxPro Edge (proprietary), Proprietary Trustpilot Rating 4.3 out of 656 reviews Number of CFD Forex Pairs to Trade 70+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.25
USDJPY: 0.38
EURGBP:- 0.1 (MT4)
- 1.3 (MT5)
GBPUSD: 0.37Forex Commission per Lot per Trade $0 on Standard Account; $3.5 per side on Raw+ and Elite Accounts Deposit Methods Visa, Mastercard, Maestro, Bank Transfer, Neteller, PayPal, Skrill, Union Pay Withdrawal Methods Bank Transfer, Mastercard, Visa, Union Pay, Maestro, PayPal, Skrill, Neteller Key Pros
- Over 2,100 CFDs across six asset classes
- Zero fees on deposits and withdrawals
- Floating spreads with no commissions on MT4 FX trades
- Winner of over 100 industry awards
- Fills orders within less than 13 milliseconds
Key Cons
- FX spreads are slightly higher than industry averages
- Charges maintenance fees after six months of inactivity
Is Forex Trading Legal in Peru?
Forex trading is legal in Peru but traders must consider key roles of local regulators to fully understand how this sector is overseen and regulated. As already mentioned, the SBS and BCRP work together to ensure the integrity and safety of the Peruvian financial sector, which also includes the Forex industry. The two authorities have joined forces to implement a regulatory framework that local brokers must follow, ensuring anti-money laundering (AML) and counter-terrorist financing (CTF) compliance.
Ensuring monetary stability and regulating foreign exchange operations in Peru fall under the remit of the BCRP. It is responsible for monitoring financial entities’ compliance with AML and CTF guidelines, providing a safer environment for traders. Brokers who wish to cater to Peruvian traders must obtain permission from the BCRP and comply with the regulatory guidelines imposed by the authority.
The SBS is also responsible for regulating Forex trading operations carried out on the territory of Peru. Brokers operating in Peru must adhere to SBS-imposed regulations that focus on licensing, customer protection, and market integrity. Any non-compliant entities can suffer financial and other types of penalties inflicted by the SBS.
BCRP and SBS Regulation Info
The Peruvian financial system consists of four government-owned entities, which include the Central Reserve Bank of Peru (BCRP), the Development Bank (Corporación Financiera de Desarrollo, or COFIDE), the Agrarian Bank, and the Banco de la Nación (the government’s financial agent). These authorities, along with other entities involved in the financial sector in Peru, are regulated by the SBS.
As mentioned earlier, local brokers who wish to cater to Peruvian traders must comply with regulations imposed by the authorities monitoring and regulating the financial sector in Peru. However, there are no specific rules for applicants who wish to obtain a Forex license from Peruvian authorities. Since there is a lack of a set system of rules and regulations for Forex brokers in Peru, the number of locally licensed brokers still cannot compare to the range of internationally regulated brokers.
The majority of Peruvian traders opt for trading with offshore brokers that operate under the regulatory guidelines of international regulators. That said, traders from Peru must make sure that international brokers have not restricted access to Forex and other trading services to Peruvians. What is more, it is recommended that they check the applicable restrictions, investor protections, and other specifics adopted by the offshore broker catering to Peruvian traders.
How Can I Verify if Brokers Are Authorized to Operate in Peru?
Despite the lack of brokers regulated in Peru, you can stay updated about any changes in the Forex sector of the Latin American country by visiting the official websites of the Peruvian regulators, which include the BCRP, SBS, and SMV. Currently, however, Peruvians resort to offshore Forex trading with foreign brokers so we believe it is better to learn how to verify the validity of offshore Forex licenses.
If you have come across a reputable broker, you should be able to view any relevant licensing information on the official website of the brand. Such details are typically displayed at the end of the home page of a broker’s website. There, you can see the authorities regulating different entities of the brand and the respective license numbers that have been granted to the company.
Additionally, Peruvian traders may look for the official registers of the regulators that have issued permissions to the broker. To do that, it is best to visit the website of the regulator and look for lists of licensed brokers. Conveniently enough, many reputable regulators have provided a search tool that makes the process of license verification faster and easier.
Are My Funds Safe with Forex Brokers Operating in Peru?
Since offshore brokers are typically the most common option for Peruvian traders to engage in Forex trading, it is important to know which brands offer the highest level of security. Many brokerage companies have adopted investor protection measures that can add another layer of security for one’s funds.
The most commonly adopted money protection tool that reputable brokers offer to their retail clients is negative balance protection. Simply put, this feature automatically closes orders if further trading will cause a loss bigger than the balance available in the respective trader’s account. A common requirement that brokers must meet, including those operating in Peru, is to keep the funds of clients and the company’s operational funds in segregated bank accounts. That guarantees that clients’ money cannot be used as collateral in case of a broker’s insolvency.
Investor compensation is also adopted by some offshore brokers that welcome Peruvian traders. This safety net ensures additional protection for traders’ funds, allowing eligible clients of brokers to be compensated up to a certain amount in case of the broker’s insolvency or failure to fulfill their financial responsibilities. The availability of any compensation program as well as the conditions that must be met to receive any collateral in case of insolvency depend on the regulatory supervision of the offshore broker Peruvian traders decide to register with.
Do Peruvian Brokers Provide Negative Balance Protection?
The availability of different security measures, including negative balance protection, depends on the regulator imposing the guidelines that offshore brokers must comply with. Since traders residing in Peru can choose from a wide range of brokerages regulated by foreign authorities, they should do their research and opt for brands that will automatically apply negative balance protection to their trading accounts.
Regulators in jurisdictions like the UK, EU, and Australia require all licensed brokers to implement mandatory negative balance protection for their retail clients. In contrast, this risk-management tool is less common among brokers regulated in the Seychelles, the British Virgin Islands, or other jurisdictions, which have more relaxed Forex regulations. While some brands allow professional traders to use negative balance protection, usually, they have to wave that feature.
While negative balance protection is not a mandatory requirement in all foreign jurisdictions, it is not unusual for many offshore brokers to offer this tool to their clients as a way to stay ahead of their competition in the Forex sector. To be sure they can use this risk-assessment measure, we recommend Peruvian traders do their research and pick brokers that will automatically protect them from losses surpassing the sums they have deposited into their accounts.
Do Peruvian Traders Pay Taxes on Their Forex Trades?
Depending on several circumstances, the income Peruvians generate from Forex trading can be subjected either to a Capital Gains (CG) tax or regular income tax. However, if traders place frequent high-volume trades, their gains from Forex trading online can be taxed as business income. Depending on the way the income from Forex trading is classified the tax rate applied to Peruvian traders will vary.
Due to the complexity of the taxation system adopted in Peru, we advise traders from the Latin American country to consult a local tax expert. That way, Forex traders from Peru can be certain of the type of tax that may be levied on their trading gains.
How Does Leverage Available to Peruvian Traders Compare to Leverage at Brokers Regulated Offshore?
Due to the vague Forex regulations adopted in Peru, there is no specific cap on leverage available to Peruvian traders. That said, as offshore brokers are the main providers of trading services for Forex traders from the Latin American country, the leverage Peruvian traders can access depends on the regulatory measures adopted by the respective foreign broker.
While high leverage can offer trading with larger positions while using a smaller trading capital, this tool also increases the risk of larger losses in a short period of time. This is why jurisdictions like the UK, EU countries, and Australia have adopted stricter leverage limits to reduce risks during Forex and CFD trading. The typical leverage cap you can see across brokers regulated by the FCA, CySEC, and ASIC is 1:30 for major currency pairs and 1:20 for minor Forex pairs.
In most cases, Peruvian traders are able to join Forex brokers regulated outside the aforementioned jurisdictions. It is common for entities regulated by the Financial Services Authority (FSA) in the Seychelles, the Financial Services Commission in the British Virgin Islands, the Financial Sector Conduct Authority in South Africa, or other offshore regulators to offer leverage way beyond the 1:30 cap. Peruvian traders who join brokers overseen by any of these entities may often unlock leverage ratios of 1:100, 1:500, 1:1000, or maybe even higher.
Despite being offered higher leverage at some offshore Forex brokers, Peruvian traders are advised to carefully assess their risk tolerance while trading with leverage. Reputable brokers allow their customers to set up leverage limits they feel comfortable with, enabling better risk-management for traders.
Professional Account Requirements for Peruvian Traders
Leverage limits typically apply to retail traders, limiting the risk they are exposed to while trading Forex and other instruments. However, high-volume traders with bigger risk tolerance would rarely appreciate lower leverage caps as they can significantly limit the size of their orders and the potential return. That is why, offshore brokers with limits on leverage for retail traders often offer traders to unlock higher leverage with professional trading accounts.
While Peruvian traders may pick offshore brokers regulated by authorities that allow higher leverage, if they happen to register with brokers that impose limits on the leverage available to retail traders, it is worth it to check for the option of opening professional accounts. To do that, however, they need to qualify for professional trading.
The conditions for professional trading vary across different jurisdictions, but they typically involve traders’ work experience, volume and frequency of trading, and wealth. Below, is a table with the most common requirements for professional accounts across several jurisdictions regulating foreign brokers.
| Regulator | ASIC | CySEC | FCA |
|---|---|---|---|
| Wealth Test | Provide proof of net assets worth AUD$2.5 million OR an annual gross income for the last two consecutive financial years of at least AUD$250,000 | Own financial portfolio, including deposits, that exceeds €500,000 | Own financial portfolio, including deposits, that exceeds €500,000 |
| Large-Volume Trading Activity | Place large-volume trades (AUD$50,000 per quarter) on relevant products at least 20 times per quarter for at least 4 quarters in the preceding 2 years | Place large-volume trades at least 10 times per quarter over the previous four quarters. | Place large-volume trades at least 10 times per quarter over the previous four quarters. |
| Relevant Work Experience | Have relevant work experience of at least 1 year in the financial sector | Have relevant work experience of at least 1 year in the financial sector | Have relevant work experience of at least 1 year in the financial sector |
What Trading Platforms Are Available to Peruvian Traders
As offshore brokers tend to work with various third-party platform providers, Peruvian traders can come across different platforms facilitating Forex trading. What is more, some brokers offer their own proprietary platforms, which feature plenty of advanced charting and analytical tools, various order types, and improved social and copy trading features. That said, we would like to list the third-party trading software platforms that are commonly available to Peruvian traders.
MetaTrader 4 (MT4): This is a widely adopted trading platform, available at multiple offshore brokers catering to Peruvian Forex traders. It is well-known for its simple design, powerful charting tools, multiple order types, and smooth order execution. MT4 also involves expert advisors (EAs) that facilitate easy automated trading. This third-party platform is suitable for both beginners and experts, making it a great choice for a large number of Peruvian traders.
MetaTrader 5 (MT5): Being the successor of MT4, MT5 offers a broader range of tools and tradable products. While still offering a user-friendly interface, MT5 is clearly an improved version of MT4, giving access to additional order types, advanced charting tools, and a great selection of technical indicators. MT5 is also available across a broad range of Peru-friendly offshore brokers, allowing both beginners and experts an equally smooth trading experience.
cTrader: Another third-party trading platform that Peruvian Forex traders can often discover at foreign brokers is cTrader. With a more modern interface, cTrader may seem a bit too advanced for beginners. That said, the platform is wonderful for traders who wish to diversify their portfolios by trading Forex and different CFD instruments. This software offers market depth through the so-called Level II Pricing, providing all executable prices directly from liquidity providers. Robust technical indicators and charting tools are just a few of the perks available on cTrader.
TradingView: This third-party platform is gaining more popularity mainly due to its innovative social trading feature, allowing traders to make informed decisions based on insights from fellow traders. TradingView has joined forces with a number of offshore brokers accepting traders from Peru, allowing them to share their Forex experiences with other traders.
Peruvian traders can further explore the regulatory framework in their country by checking the sources we provide below. These are the key regulators of the financial sector, including Forex servoces, in Peru. Additionally, you will discover links to regulators that commonly regulate offshore brokers accepting Forex traders from Peru.
- Central Reserve Bank of Peru (BCRP) – The main authority regulating financial services on the territory of Peru
- Superintendence of Banks, Insurance, and Pension Funds Administrators (SBS) – Along with the BCRP, the SBS ensures the stability of the financial sector in Peru, regulating entities offering a wide range if financial services to Peruvians
- Superintendencia del Mercado de Valores (SMV) – The main role of this authority is to regulate the securities market, which also involves brokers offering currency trading in the form of securities or derivatives.
- Bolsa de Valores de Lima (BVL) Register – Here, you can find a list of all securities brokerage houses regulated by the SMV in Peru
- Financial Service Commission of British Virgin Islands (BVIFSC) – A wide range of offshore brokers regulated in the British Virgin Islands welcome Peruvian traders, so it is worth exploring the regulatory framework in this region.
- Financial Services Authority of Seychelles (FSA) – Yet another foreign regulator authorizing the operation of quite a few offshore brokers catering to Peruvian traders.