Which broker is better for Chile traders in 2026? Expert analysis across 12 categories.
Chilean traders seeking a reliable forex broker face a critical choice between IC Markets and Libertex. IC Markets, with a stellar 4.8/5 trust score, is a global ECN broker known for ultra-low spreads and lightning-fast execution—ideal for experienced retail traders in Santiago or Valparaíso. Libertex, scoring 3.7/5, offers a simpler, commission-free platform but with higher spreads and less transparency. Both support CLP deposits via Bank Transfer and Credit Card, a key advantage for Chileans avoiding currency conversion fees. While neither is directly regulated by the CMF Chile, IC Markets’ oversight by ASIC and CySEC provides stronger investor protection. This comparison focuses on trading costs, platforms, and local payment methods to help you decide which broker suits your Chilean trading style.
| Instrument | IC Markets | Libertex | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | Libertex |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | Libertex |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | Libertex |
| Standard acc spread | from 1.0 pips | from 0.8 pips | Libertex |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $10 | Libertex |
For Chilean traders, spreads are a decisive factor. IC Markets offers raw spreads from 0.0 pips on its Raw Spread account with a $7 commission per lot, while Libertex has fixed spreads from 1.0 pips with no commission. On a standard EUR/USD trade of 1 lot, IC Markets costs about $7 total, whereas Libertex costs $10–$15 in spread. For high-frequency traders, this difference adds up significantly. IC Markets also provides volume-based discounts, benefiting active Chilean scalpers.
| Account Type | IC Markets | Libertex |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✗ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✗ |
| Zero spread account | ✓ | ✗ |
| Copy trading | ✗ | ✗ |
| Min deposit | $200 | $10 |
| Entity / Asset | IC Markets | Libertex |
|---|---|---|
| Chile (offshore) | Up to 1:5000 | Up to 1:999 |
| Forex major pairs | 1:5000 | 1:999 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
| Asset Class | IC Markets | Libertex | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | IC Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | IC Markets |
| Crypto CFDs | 30+ | 20+ | IC Markets |
| Stocks / Share CFDs | ✗ | ✗ | Libertex |
| ETFs | ✗ | ✓ | Tie |
| Platform | IC Markets | Libertex |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✗ |
| MetaTrader 5 (MT5) | ✓ | ✗ |
| cTrader | ✓ | ✗ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✗ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader—all optimized for low latency and custom indicators, perfect for experienced Chilean traders. Libertex offers its proprietary web and mobile platform, which is user-friendly but lacks advanced charting and automated trading tools. For Chileans using VPS or algorithmic strategies, IC Markets is the clear winner. Libertex’s platform suits beginners but frustrates power users.
| Factor | IC Markets | Libertex | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | Libertex |
| Avg execution speed | ~30ms | ~40ms | IC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✗ | Tie |
IC Markets uses ECN execution with no dealing desk, offering average execution speeds under 40ms and no requotes—critical for Chilean scalpers. Libertex uses market maker execution with potential slippage and requotes. For experienced Chilean traders prioritizing speed and transparency, IC Markets’ execution quality is superior.
| Safety Factor | IC Markets | Libertex |
|---|---|---|
| Primary regulator | ASIC | CySEC |
| Top-tier regulated | ✓ | ✗ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Neither IC Markets nor Libertex is licensed by the CMF Chile, meaning Chilean traders rely on international regulation. IC Markets is regulated by ASIC (Australia) and CySEC (Cyprus), offering negative balance protection and segregated accounts. Libertex is regulated by CySEC and the FSC (Belize), with weaker oversight. For Chileans concerned about fund safety, IC Markets’ stronger regulatory framework provides more confidence, especially for larger deposits.
| Payment Method | IC Markets | Libertex |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✗ |
| Withdrawal time | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days | 5 business days |
Chilean traders can fund both accounts via Bank Transfer and Credit Card in CLP. IC Markets processes deposits instantly with no fee, minimum $200 USD equivalent. Libertex has no minimum deposit but may charge up to 2% for credit card deposits. Withdrawals at IC Markets are free and processed within 1 business day; Libertex charges a $5 fee for bank withdrawals and takes 2–3 days. For Chileans relying on local bank transfers, IC Markets offers faster, cheaper access to funds.
| Islamic Account Feature | IC Markets | Libertex |
|---|---|---|
| Swap-free available | ✓ | ✗ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both brokers offer Islamic (swap-free) accounts for Chilean Muslim traders. IC Markets provides swap-free accounts on request for all account types, with no expiry on the waiver. Libertex offers automatic swap-free accounts but may apply a fee after 30 days. IC Markets’ policy is more favorable for long-term position holders, while Libertex suits shorter-term traders. Both comply with Sharia principles.
| Support Feature | IC Markets | Libertex | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✗ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
IC Markets offers 24/7 multilingual support via live chat, email, and phone, with dedicated account managers for high-volume Chilean clients. Libertex provides 24/5 support with slower response times. For Chilean traders needing immediate assistance during volatile Latin American sessions, IC Markets’ round-the-clock service is more reliable.
| Mobile Feature | IC Markets | Libertex | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | IC Markets |
| Google Play rating | 4.3 stars | 4.2 stars | IC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
| Resource | IC Markets | Libertex | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | ✗ | ✗ | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
Choose IC Markets if you...
Choose Libertex if you...
For most experienced Chilean traders, IC Markets is the superior choice. Its 4.8/5 rating, ultra-low spreads, and ECN execution align with the needs of active traders in Chile, while local payment methods like Bank Transfer and Credit Card in CLP make funding easy. Libertex’s 3.7/5 score reflects higher costs and weaker regulation, making it suitable only for beginners. Given the lack of CMF Chile oversight, IC Markets’ ASIC regulation offers better protection. If you trade frequently or use advanced strategies, choose IC Markets. For casual trading, Libertex may suffice, but the long-term value lies with IC Markets.