How US Investors Can Access the Brazilian Stock Market: Platforms and Brokers Explained


Brazil’s stock market (B3 – Bolsa de Valores do Brasil) is the largest in Latin America and offers access to high-yield stocks, government bonds, REITs (FIIs), and agribusiness funds (FIAGROs). But one question remains: how can US investors actually invest in Brazil?

In this article, we break down the main platforms and brokers that allow foreigners to participate in the Brazilian market, from global apps to specialized Brazilian investment banks.


Option 1 – Global Brokers with Access to Brazil

Some international brokers already list Brazilian stocks as ADRs (American Depositary Receipts) or through ETFs:

  • Interactive Brokers → one of the most complete platforms for foreigners wanting direct access to B3.

  • Charles Schwab & Fidelity → allow trading of Brazilian ADRs such as Petrobras (PBR), Vale (VALE), and Itaú (ITUB).

  • iShares MSCI Brazil ETF (EWZ) → an ETF that tracks large Brazilian companies, available on NYSE.


Option 2 – Brazilian Digital Banks and Brokers Accepting Foreign Investors

Some of Brazil’s leading investment institutions allow US citizens to open accounts and directly buy stocks, FIIs, and bonds on the B3 Exchange.

BTG Pactual Digital

  • The largest investment bank in Latin America.

  • Offers foreigners access to Brazilian stocks, FIIs, bonds, and private equity funds.

  • Recognized for its premium platform and strong reputation in international finance.

XP Investimentos

  • Brazil’s biggest retail brokerage, serving over 4 million investors.

  • US investors can open accounts through the XP International division.

  • Full access to equities, ETFs, FIIs, FIAGROs, and fixed income.


Option 3 – ETFs and Funds Focused on Brazil

For investors who want simplicity without opening an account abroad, Brazil-focused ETFs are the easiest choice.

  • EWZ – iShares MSCI Brazil → the most traded Brazilian ETF in the US.

  • BRF – VanEck Brazil Small-Cap ETF → exposure to smaller companies.

  • FM – iShares Frontier and Emerging Markets ETF → includes Brazil among other countries.


Key Considerations Before Investing

  1. Currency risk – All direct investments are in Brazilian Real (BRL).

  2. Taxation – US investors must report gains to the IRS, even if taxes were withheld in Brazil.

  3. Liquidity – Large Brazilian stocks (Petrobras, Vale, Itaú) are highly liquid, but small caps may not be.


Conclusion

For US investors, there are multiple ways to gain exposure to Brazil’s growing economy:

  • Global brokers for ADRs and ETFs.

  • Brazilian platforms like BTG Pactual Digital and XP Investimentos for direct access.

  • ETFs in the US market for simplicity.

No matter the choice, Brazil’s stock exchange provides access to high-dividend banks, global commodity leaders, and innovative fintechs, making it an attractive option for portfolio diversification.

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