Forex Trading in Peru

Want to jump straight to the answer? The best forex broker for most people is definitely or CedarFX.

Like most South American countries, the world of forex trading is a relatively new sphere of financial market speculation for Peruvian residents and travelers. As more and more forex brokers begin offering services to Peruvians, however, it’s now easier to get involved in retail forex trading. 

Have you ever wanted to trade forex in Peru? Our comprehensive guide to brokers, trading strategies and opening your first account will make things easier. 

Get Started with Forex in Peru

Before you can begin forex trading, you’ll need to open an account with a broker offering services to traders in Peru. To start your search, make sure that you have a stable connection to the internet and that your connection is private. Investing from a private, secure internet connection doesn’t only help ensure that you have access to the most up-to-date price information, it also helps keep your personal and banking information out of the hands of criminals.

Once you’re sure that your data connection is private, start comparing brokers. There are a number of international forex brokers offering trading capabilities to traders in Peru. Some of the characteristics you might want to consider when you compare brokers include:

  • Trading, margin and account maintenance fees
  • Currency availability
  • Spanish language customer support, if needed
  • Supported trading platforms
  • Supported deposit methods
  • Local and international oversight and regulation

After you choose a broker you’d like to work with, open an account using your broker’s website. You might also need to download a 3rd-party trading platform depending on which broker you choose.

Once you’ve opened your brokerage account, it’s time to add your trading funds. You can add trading funds using a variety of methods, including:

  • Direct bank transfers
  • Transfers from electronic wallets
  • Funds from a debit card

It might take a few days for your trading funds to appear in your account. Once they do, you can officially place your first forex trade. 

Peru Forex Trading Strategies

The base currency of Peru is the Peruvian sol (PEN). The sol is a particularly volatile currency, which makes it most suitable for short-term and medium-term trading with technical analysis (though it is possible to also use fundamental analysis). Technical analysis is a form of market analysis that uses past chart patterns and exchange rate data to predict how a currency pair’s value will change in the future.

There are profitable technical analysis strategies you can use to earn money trading the sol or another currency. Let’s take a look at a few of the most common technical analysis strategies. Though these patterns aren’t foolproof guarantees that you’ll earn money trading, they can provide you with an excellent jumping-off point to formulate your own unique trading strategy. 

Shooting Star

The shooting star formation is a single candlestick pattern that indicates a likely bearish trend.  When the price is pushed upward and immediately rejected, the candlestick will form a high shadow with a small body. The shooting star formation typically indicates that a price will move lower, which is a sell signal. 

Shooting Star

Breakout Strategy

The breakout strategy is another simple technical analysis strategy that you can use for beginner short-term or medium-term trading. First, establish a resistance range for the currency you’re trading. When a candlestick “breaks out” of this range, a buy signal is triggered, as the currency moves above the resistance level. 

Forex Trading Example in Peru

Forex traders earn money by taking advantage of the fluctuating values of different currency pairs. Let’s take a look at an example of how profiting from forex trading works.

Pedro is a trader living in Peru who believes that the value of his native Peruvian soles will soon drop in comparison to the value of the euro. He deposits S/5,000 into his brokerage account, and his broker offers him 10:1 leverage when trading. The value of 1 PEN is currently equal to 0.2400 EUR, which means that Pedro is left with a controlled position of €1,183.22.

Soon, the value of the euro starts to rise in relation to the sol. When 1 PEN is equal to 0.2355 EUR, Pedro decides to take his profits by closing out his position. After the transaction is complete, Pedro’s controlled position of €1,183.22 has become S/5,024.28, Pedro has profited about S/24.28 on this trade. 

Making Money with Forex in Peru

Forex trading is completely legal in Peru and there are no legal limitations on the amount of profit that you can take from your trading. Though you are not guaranteed to earn a profit forex trading, it is not against the law. However, you are responsible for documenting the income you earn from trading and reporting it to the Peruvian tax administration, pertinent to the Peruvian Income Tax Law.

The Peruvian government has taken steps since 2016 to limit forex trading in an effort to combat the funding of terrorist groups and money laundering. The new regulation scheme titled, the “Money Laundering and Terrorism Finance Prevention System,” requires that every broker operating in Peru register with the Financial Intelligence Unit of Peru’s Supervisory of Banking, Insurance and Pensions. Under the new law, traders in Peru must submit identification documentation to their broker before making a trade valued at $200 to $5,000 USD.

For exchanges valued at over $5,000, you must sign a sworn affidavit with your broker stating that your identification documentation is correct and that you don’t plan to use the funds for illegal purposes. The new law also places limitations on “politically exposed persons,” which includes politicians, heads of international corporations and high-level international executives. Your broker must also register your trades as “suspicious transactions” if you’re a nonresident of Peru engaged in trading currencies.  

Best Online Forex Brokers in Peru

There is a growing number of international forex brokers offering services to investors in Peru. Choosing the right broker can make trading significantly easier and even save you money in fee and account charges. If you aren’t sure where you’d like to open your account, consider a few of our top choices below.

get started securely through CedarFX’s website
Disclosure: CedarFX is not regulated by any major financial agency. The brokerage is owned by Cedar LLC and based in St. Vincent and the Grenadines.
Account Minimum
$50 USD
Pairs Offered
1 Minute Review

Billing itself as the world’s 1st eco-friendly broker, CedarFX makes it easy to trade and give back to the planet. You can choose a 0% Commission Account or an Eco Account — or open multiple accounts to meet all your needs. 

CedarFX offers access to a wide range of tradable securities, including stocks, futures, major and exotic forex pairs, cryptocurrencies and more. Though CedarFX could introduce a few additional educational resources, the broker remains a unique option for traders invested in giving back.

Best For
  • Forex investors
  • Investors interested in 0% commission or eco conscious trading
  • Investors looking for 24/7 customer service
  • Allows users to offset their carbon footprint
  • 0% commission investing
  • Offers demo account access
  • 24/7 customer service available through live chat
  • Eco Account Option (10 trees planted for each lot traded)
  • Fast deposits/withdrawls with Bitcoin
  • Limited number of educational resources for new investors
get started securely through IG Markets’s website
Account Minimum
Pairs Offered
1 Minute Review

IG is a comprehensive forex broker that offers full access to the currency market and support for over 80 currency pairs. The broker only offers forex trading to its U.S.-based customers, the brokerage does it spectacularly well. Novice traders will love IG’s intuitive mobile and desktop platforms, while advanced traders will revel in the platform’s selection of indicators and charting tools. Though IG could work on its customer service and fees, the broker is an asset to new forex traders and those who prefer a more streamlined interface.  

Best For
  • New forex traders who are still learning the ropes
  • Traders who prefer a simple, clean interface
  • Forex traders who trade primarily on a tablet
  • Easy-to-navigate platform is easy for beginners to master
  • Mobile and tablet platforms offer full functionality of the desktop version
  • Margin rates are easy to understand and affordable
  • Access to over 80 currency pairs
  • U.S. traders can currently only trade forex
  • Customer service options are lacking
  • No 2-factor authentication on mobile
get started securely through’s website
Account Minimum
Pairs Offered
1 Minute Review is a one-stop shop for forex traders. With a massive range of tradable currencies, low account minimums and an impressive trading platform, is an excellent choice for brokers searching for a home base for their currency trading. New traders and seasoned veterans alike will love’s extensive education and research center that provides free, informative forex trading courses at multiple skill levels. While is impressive, remember that it isn’t a standard broker.

Best For
  • MetaTrader 4 users
  • Beginner forex traders
  • Active forex traders
  • Impressive, easy-to-navigate platform
  • Wide range of education and research tools
  • Access to over 80 currencies to buy and sell
  • Leverage available up to 50:1
  • Cannot buy and sell other securities (like stocks and bonds)

Forex Terminology

Forex traders have their own language they use to discuss trades and place orders. Familiarize yourself with a few of the most common forex trading terms below to give yourself an advantage when learning about the market.

Pip: A pip is the smallest calculable exchange rate movement in a particular currency pair. In most cases, 1 pip is a movement of 0.0001 in the currency pair’s exchange rate.

Lot size: A lot size is a standardized trading amount. Online forex brokers generally have a lot size of 100,000 base currency units for the various currency pairs.

Orders: To buy or sell a currency pair, you’ll place an order through your broker. There are many types of orders, and you can use a combination of order types to limit loss and automatically take profits.

Margin calls: If you use leverage to trade forex, you’ll need to know about margin calls. A margin call is a notice from your broker requiring you to deposit more trading funds into your account if your trading positions require more margin for you to continue to hold them. 

Keeping Up With the Changing Forex World

Money laundering and the funding of illegal activities has long been a concern for Peruvian lawmakers. In 2015, Peru’s Supervisory of Banking, Insurance and Pensions disclosed that over 3,000 suspicious transactions have taken place since 2010 worth over $8 billion. The majority of these illegal funds were found to be diverted to illegal mining operations and drug trafficking.

While trading forex is legal in Peru, be sure to keep an eye on how laws are changing and your positions. Never risk more money than you are willing to lose — profits are not guaranteed.

Get a Forex Pro on Your Side, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade. 

You can also tap into:

  • EUR/USD as low as 0.2 with fixed $5 commissions per 100,000
  • Powerful, purpose-built currency trading platforms
  • Monthly cash rebates of up to $9 per million dollars traded with’s Active Trader Program

Learn more about’s low pricing and how you can get started trading with