The Best Prop Firms in Brazil for 2026, Compared

What is a prop firm?

A prop firm is a company that provides its own capital (or simulated capital) to qualified traders and shares the profit generated. The trader risks no money of their own beyond the challenge entry fee.

• You go through a challenge on a demo account to prove consistency, without breaching the risk limits the firm sets.
• Afterwards, you trade the firm's simulated capital, without having to put personal assets at risk.
• Profits are split between you and the firm, in the proportion each firm sets.
• If you breach the risk rules, you lose the account.

Where do the global sessions land on Brasilia time?

The times below assume each financial centre trades between 08:00 and 17:00 on its own clock. This is a convention, not an exchange schedule, and every figure is derived from standard UTC offsets.

Brasilia time is UTC-3 throughout the year, with no daylight saving time since 2019. Tokyo (UTC+9) is twelve hours ahead, so its session runs from about 20:00 on the previous evening to 05:00 in Brasilia.

London's session runs from about 05:00 to 14:00 Brasilia time in winter and from about 04:00 to 13:00 in summer, when the UK is on British Summer Time. New York comes next, at about 10:00 to 19:00 in winter and 09:00 to 18:00 in summer.

The London and New York overlap therefore falls in the morning and early afternoon, from about 10:00 to 14:00 in winter and 09:00 to 13:00 in summer. In the weeks when the UK and US clocks are out of step (March, and late October to early November), it can stretch from about 09:00 to 14:00.

The CVM and Lei 6.385/1976

Lei 6.385/1976 governs the securities market and creates the Comissao de Valores Mobiliarios (CVM). The activities and securities subject to the regime of that law are defined in arts. 1 and 2, whose full text is in the references of this page.

This description of the regulatory perimeter is not a substitute for legal advice. The page does not analyse whether the activity of any specific prop firm falls inside or outside the CVM's remit, and it cites no Brazilian court decision on the subject.

What does the CVM warn about unauthorised offers and activity?

The CVM keeps a page of alerts on irregular offers and activity (ofertas e atuações irregulares). According to that page, its Atos Declaratórios (declaratory acts) warn about parties operating or making offers without the authority's authorisation and order the irregular activity to stop immediately, under penalty of a daily fine.

The alerts issued by the SMI (the CVM's market and intermediaries department) cover irregular intermediation of securities by unauthorised persons and activity by an agente autônomo (independent agent) that does not comply with the rules. The page adds that there are also alerts about unregistered offers in the Forex market.

• Check that the contact details match exactly those in the CVM's Cadastro Geral (general register); checking only that the person or company is registered is not enough.
• Make sure any transfer goes to a bank account registered in the name of the legitimate entity.
• Treat requests for assorted fees to release supposedly withheld amounts as suspicious.
• If in doubt, contact the CVM's Central de Atendimento (service centre) on 0800-025-9666.

The alerts page does not mention mesas proprietarias (proprietary trading desks), prop firms or funded accounts, and it does not deal with foreign entities in general. This page does not say whether any of the firms compared appears in those alerts. Read it as a summary of the CVM page for orientation, not as legal advice.

What did the CVM's 2025 joint circular on reporting irregularities say?

On 18 February 2025 the CVM published a news item on Ofício Circular Conjunto CVM/SIN/SMI 1/2025, a joint circular letter from two of its technical departments on how intermediaries should identify and report suspected irregularities to the authority. It supplements earlier guidance on transaction monitoring and on reporting to the CVM under article 33 of Resolução CVM 35, and focuses on suspected irregular management of securities portfolios.

The news item lists six minimum controls for identifying these irregularities. One of them reads "Pessoas jurídicas não credenciadas com mesa proprietária", that is, non-accredited legal entities with a proprietary trading desk.

The news item does not use the term prop trading or prop firm and does not define mesa proprietaria (proprietary trading desk). This page does not analyse whether that control reaches firms that sell challenges on simulated capital, and does not say that any of the firms compared falls under it. Read it as a summary of the news item, not as legal advice.

What did a 2023 CVM decision involving a mesa proprietaria say?

At its meeting of 14 November 2023, the CVM's Colegiado (board of commissioners) considered a proposed termo de compromisso (settlement agreement) in a sanctioning proceeding, PAS 19957.002134/2020-46. The Superintendência de Processos Sancionadores (sanctions department) had proposed holding the parties liable for allegedly acting as an intermediary in the securities market without CVM authorisation, citing article 16, item III, of Lei 6.385/1976.

The decision mentions the mesa proprietaria (proprietary trading desk) once: the parties offered to adjust their business model so that the desk could continue without the features that had led the sanctions department to treat the activity as intermediation. The Colegiado unanimously rejected the settlement proposal.

This is a decision on a settlement proposal, not a court ruling and not a decision on the merits of the allegations. The text does not state the final outcome of the proceeding, does not describe what the desk's activity consisted of, and does not deal with foreign firms or with challenges on simulated capital. This page does not say that the reasoning applies to any of the firms compared. Read it as a summary of the decision, not as legal advice.

Income tax on income received from abroad

Where it applies, the Carnê-Leão follows the progressive income tax table, with rates running from exempt up to 27.5%, and is paid monthly by the last business day of the month after the income is received.

The entry is made in the Receita Federal's Carnê-Leão program, and the amounts calculated are then carried to the annual return (DIRPF). Trading through a CNPJ is outside what this page describes.

This content is informational and is not tax advice. Every situation is different and tax law changes. Consult an accountant who specialises in foreign income before making decisions.

What does the Receita Federal say about income received from abroad?

The Receita Federal (Brazil's federal tax authority) page on income covered by the Carnê-Leão says that income an individual resident in Brazil receives from sources abroad is subject to the Carnê-Leão. This applies with regard to any agreements, treaties or international conventions between Brazil and the country the income comes from, or to reciprocal treatment, which exist to avoid double taxation. The page states that no proof of reciprocity is needed for Germany, the United States and the United Kingdom.

On conversion, the page says the income and any tax paid abroad are first converted into US dollars at the value set by the monetary authority of the country of origin, and then into reais using the US dollar purchase rate (taxa de compra) set by the Banco Central do Brasil for the last business day of the first half of the month before the month in which the income is received.

Where a treaty or reciprocity exists, the page says tax paid in the country of origin can be offset in the Carnê-Leão calculation and in the annual return, within the legal limit. Without such an arrangement, tax paid abroad cannot be offset.

The Receita Federal page does not mention prop firms or mesas proprietarias (proprietary trading desks), and this page does not say whether payouts from a prop firm fall under this rule. This is general information, not tax advice: consult an accountant who specialises in foreign income before making decisions.

How to receive payouts in Brazil

Routes used to receive payments from abroad in Brazil include the international wire transfer (SWIFT), PayPal and stablecoins pegged to the US dollar (USDT or USDC). Each firm sets which routes it offers and in which currency it pays: the page of each firm, linked in the table, is the source for that.

International wire transfer (SWIFT)

This is the traditional option: the money reaches your Brazilian current account through the banking system.

PayPal

PayPal applies limits per transaction, and converting to reais has a cost of its own. It is worth checking your account's limits before choosing this route.

Crypto (USDT or USDC)

Payouts in dollar-pegged stablecoins are sent over the blockchain network, and you convert to reais on the crypto exchange of your choice, whenever you prefer.

Timing, costs and limits vary by route and by firm; check the payment rules on each firm's page.