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Best Trading Platform in Chile

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In this guide, we go over the best trading platforms in Chile. We have analysed 174 brokers and evaluated their platforms in 8 major categories. We measured all aspects of their service including trading platforms, fees, mobile trading, deposits & withdrawals, assets, regulation, research & education, customer support and islamic account options.

Trading platforms that reached the highest scoring are considered in the following list:

Top 6 Trading Platforms in Chile

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  1. Saxo Bank – Best for Advanced Traders
  2. Interactive Brokers – Great Overall Pick
  3. Tradestation – Zero commission stock and ETF trading
  4. Capital.com – Best Broker for Algorithmic Traders
  5. eToro – Best for Social and Copy Trading
  6. Pepperstone – Great research and education section

Best Online Trading Platforms in Chile

PLATFORMSCOREGENERAL INFOMINIMUM DEPOSIT
#1Saxo Bank4.9Best for Advanced Traders$10.000
#2Interactive Brokers4.9Great Overall Pick$0
#3Tradestation3.7Zero commission stock and ETF trading$2000
#4Capital.com4.7Best Broker for Algorithmic Traders$20
#5eToro4.9Best for Social and Copy Trading$200
#6Pepperstone4.8Great research and education section$200


Below section breaks down the best trading platforms in Chile beginning with the highest rated…

01. Saxo Bank: Best for Advanced Traders

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Saxo Bank is a reputable global brand known for its complete overall offer and exclusive conditions for high volume traders and investors. Users can enjoy cutting edge trading technology paired with a premium interface and great trade execution on mobile and desktop. The Saxo Bank trading platform offers a feature rich trading experience, easy to use interface, competitive margin rates, and trading on over 40,000 financial instruments. This makes them an industry leader in trading assets coverage as an ECN broker.

If you can afford the minimum deposit of $10.000, this is the go to broker for traders and investors at all levels. They combine high-quality in-house research with top-tier third-party providers and a diverse portfolio of investment options.

Investors who are looking to trade in accordance with Sharia Law can open an islamic account. Saxo Bank also offers high quality customer service in Arabic and English language via phone, email or in person at their local office with guaranteed satisfying answers.


02. Interactive Brokers: Great Overall Pick

interactive-brokers-rating

Interactive Brokers is a highly trusted global broker with a well-rounded offer of tradable markets, great educational content and sophisticated order type configuration. It is a high trusted and well capitalize company with an industry leading trading platform, a competitive fee structure and great global market access. Their low entry level and the Global Trader platform, which is intuitive and easy to use trading station, make this broker s great choice for beginners and advanced forex traders.

Professional and seasoned traders will appreciate the great selection of advanced trading tools and order type configurations available on their proprietary Trader Workstation desktop platform (TWS).


03. Tradestation: Zero commission stock and ETF trading

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Tradestation is a reputable online broker known for its technology-leading trading platforms, great selection of tools and zero commission stock and ETF trading. Their industry leading trading platform suite combines a desktop, web and mobile version which are all performing above industry average. Tradestation offers a great selection of most popular asset classes including stocks, cryptos, options, futures, ETFs and IRAs.

Their trading fees vary based on account selection. Pricing is below industry average on the most used accounts (select and GO).  Minimum deposit is $2000 and there are no monthly charges. 


04. Capital.com: Best Broker for Algorithmic Traders

capital-com-rating

Capital.com is a top choice for traders looking for a discount broker with great educational content and resources, advanced research tools and a premium trading interface. They offer a wide range of tradable assets including CFDs on cryptos, stocks, indices, commodities and forex pairs.

Founded in 2016, Capital.com is an international fintech company which has group of entities authorised and regulated by the Financial Conduct Authority (“FCA”), the Australian Securities and Investments Commission (“ASIC”), the Cyprus Securities and Exchange Commission (“CySEC”), and the Financial Services Authority of Seychelles (“FSA”). It does not operate a bank and is not publicly traded.

Choose Capital.com if you are looking for a great mobile trading experience, professional web trading interface, day trading features. Beginner traders will like the low minimum deposit ($20), industry leading commission structure, and award winning education section.


05. eToro: Best for Social and Copy Trading

etoro-rating

eToro is a reputable global brand and industry leading broker for copy trading. Their robust and cutting edge copy trading platform and social trading features allow users to copy trades and portfolios from professional traders and investors.

As a CFD multi asset broker, eToro allows users to trade on over 3075 different symbols including stocks, forex, cryptos, indices and commodities. Trading spreads are wide, deposits are free and account minimum is low. There are conversion and inactivity fees. eToro provides a comprehensive list of technical tools, charts, and newsfeeds. Their customer support is available through email and live chat in Arabic and English.

eToro is a well established market maker broker with a clean history record, regulated by top tier regulators.

68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.


06. Pepperstone: Great research and education section

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Pepperstone is a trusted Forex and CFD broker well know for its support of multiple copy trading platforms, great variety of tradable assets and a enormous research and education section. The combined offering of cTrader, MetaTrader and various social trading features makes this broker s great fit for copy traders and algorithmic traders.

Pepperstone is available through 24/5 phone and online chat support plus offers an extensive FAQ web section, and e-mail.


How To Pick The Right Platform?

The main criteria to consider when choosing a trading platform in Chile include: fees, trading platform, mobile trading, deposits & withdrawals, assets, customer support, liquidity and security.

Fees: Choose a broker with a transparent fee structure and avoid brokerage accounts with high fees on trades, overnight fees and hidden fees. Commission and spread fees are common with Chilean brokerage accounts. Spreads should vary between 0.03% to 0.5% depending on your trading volume.

Trading platforms: They should be user friendly, grant access to trading tools and indicators and suitable to traders at all levels. We recommend you opt for a platform with a technical charting interface and built-in market data. A comprehensive market news feed and access to advanced features are a must.

Mobile Trading: Mobile trading apps should offer the same trading tools and charts as their web versions. Choose mobile platforms with full-screen charting options and social feeds.

Deposit & Withdrawal: Deposit and withdrawal needs to be fast and simple. Choose a broker that offers your preferred payment method and industry leading commission and fee structures.

Assets: Look for coverage of preferred assets. Chilean traders are allowed to access all tradable asset classes including forex, stocks, indexes, options, FOPs, commodities, futures, indices, bonds, swaps, mutual funds, hedge funds, spot gold, ETFs and cryptos.

Regulation: Brokers with top-tier licenses follow strict rules enforced by a trustworthy regulators and offer high security standards. We recommend users to choose platforms with FCA, CySEC, and ASIC licenses and tier one regulations.

Research & education: Beginner and average traders and investors should choose a broker with research and education tools including: weekly webinars, daily news updates, personal account manager, personal training and room access.

Customer support: Beginner traders should look out for responsive and professional customer support available in their language.

*Islamic Accounts: All platforms from our list offer islamic account options. This gives users the chance to trade online in compliance to the Sharia law.

Online Trading In Chile

Online trading in Chile is available on the Santiago Stock Exchange (SSE). Founded in 1893, it is the third-largest stock exchange in Latin America. Chilean traders can trade domestic stocks on the SSE. If you live in Chile and want to trade stocks, forex, cryptocurrencies, or other financial instruments we recommend trading with the trusted offshore broker mentioned in this guide instead. It is legal to trade with foreign brokers for Chilean citizens. You need to report capital profits made with trading and include them in your income report.

Online Trading Regulation

The Financial Market Commission (CMF) regulates online trading in Chile. All Chile-based brokers and trading platforms have to be authorized by them to offer online trading services to Chileans. Companies based abroad don’t need to be authorized by the FMC to offer online trading services to Chilean citizens. Cryptocurrency trading is legal in Chile.

License Verification

You can verify the validity of a brokers license by going to the official website of the CMF, clicking on ‘Supervised Entities CMF Chile’, and searching the database for the name of the broker. If the broker is based outside of Chile, you can visit the official websites of CySEC, FCA, BaFIN, ASIC, or FINRA and check their database of ‘Registered Entities’ for the name of the company you want to trade with. If nothing shows up, you might be dealing with an unregulated broker or trading platform and we recommend trading with one of the best trading platforms in Chile mentioned in this guide instead.

Conclusion

Based on our review, we consider Saxo Bank as the best trading platform for Chilean residents. They offer a low minimum deposit, competitive fees, advanced charting tools, social trading features and a responsive customer support.

Interactive Brokers is the second best trading platform for Chilean residents, because of their low fees, advanced trading tools, copy trading features, and a responsive customer support. Tradestation, Capital.com, eToro, and Pepperstone are finishing up our list of top platforms with a great overall offer and above average ratings.

FAQ

Are There Commission-Free Trading Platforms In Chile?

Yes, there are trading platforms available in Chile that offer 0% commission trading like eToro.

How Much Should I Invest When Trading Online in Chile?

You should always invest at least the minimum deposit amount Chilean and international brokers require you to open an account. In most cases, this is about $50.

Is Crypto Trading Available In Chile?

Yes, crypto trading is available to Chilean citizens. The leading trading platforms offer Bitcoin trading via CFDs.

How To Check If A Trading Platform Has a Valid License?

You can check if a broker or trading platform has a valid license by checking the ‘Registered Entities’ databases on the official websites of regulatory bodies like the CySEC, FINRA, ASIC, BaFin, or FCA. For Chile-based brokers, you can check the official website of the Financial Market Commission instead.


Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best online brokers. Trading platform, fees, mobile trading, payments, assets, regulation, education, and research are all part of our six-month evaluation of a broker’s trading platform. The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Disclaimer
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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