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Risk·77–82% of retail CFD accounts lose money. Trade only with capital you can afford to lose.
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Stockbrokers2026

Brokers by Country · PA

Stock Brokers in Panama, 2026

Tracked byUpdated

Panama uses the USD as legal tender alongside the Balboa at 1:1 parity, with the Superintendencia del Mercado de Valores (SMV) supervising listed securities and broker-dealers. Panama is also a major offshore-finance hub via its International Business Corporation framework — though forex/CFD broker registrations under the SMV are limited compared to Belize or BVI. Most retail FX/CFD activity routes through offshore brokers using USD wires.

4 / 4 brokers accept Panama

stock

  1. Editorial top pick

    01Deriv

    BVIMFSA
    Open account at Deriv →
    Avg spread
    0.70pip
    editorial estimate
    Cost / lot
    $7.00
    no commission
    Min deposit
    $5
    Max leverage
    1:1000
    EU retail (MFSA Malta): 1:30 · Labuan / Vanuatu / BVI entities: up to 1:1000

    $5 minimum + 25 years of operating history (since 1999 as Binary.com, rebranded Deriv in 2020) · Forex is secondary to synthetic indices (their proprietary product) — CFD instrument breadth is narrower than ECN-focused brokers like Tickmill

    Fits ifYou trade synthetic indices (Volatility, Crash, Boom) — Deriv invented this product category
    PlatformsMetaTrader 5, Deriv X

    Founded in 1999 · Verified Jun 1, 2026

    Full Deriv details →

  2. 02XM Group

    ASICCySECIFSC
    Open account at XM Group →
    Avg spread
    1.30pip
    midpoint of broker range
    Cost / lot
    $13.00
    no commission
    Min deposit
    $5
    Max leverage
    1:1000
    EU/AU retail: 1:30 · XM Global (offshore entity): up to 1:1000

    $5 minimum makes starting cheap · Standard account EUR/USD spread 1.0–1.6 pip (broker-published range) + $0 commission ≈ $13/lot — one of the highest costs in our list

    Fits ifYou want the lowest-friction entry in our list — $5 minimum deposit
    PlatformsMetaTrader 4, MetaTrader 5, Web Trader

    Founded in 2009 · Verified Jun 1, 2026

    Full XM Group details →

  3. 03Libertex

    SVG FSA
    Open account at Libertex →
    Avg spread
    0.50pip
    midpoint of broker range
    Cost / lot
    $5.00
    no commission
    Min deposit
    $10
    Max leverage
    1:999
    Libertex International (St. Vincent & the Grenadines). EU/EEA residents are served by the separate CySEC-regulated entity at 1:30.

    $10 minimum + Forex Club heritage (founded 1997) — long operating history · Offshore SVG (St. Vincent & the Grenadines) registration only — no tier-1 (FCA/ASIC) or EU (CySEC) oversight

    Fits ifYou have $10 to start — one of the lowest entry minimums in our list
    PlatformsMetaTrader 4, MetaTrader 5, Libertex Platform

    Founded in 1997 · Verified Jun 1, 2026

    Full Libertex details →

  4. 04RoboForex

    IFSC
    Open account at RoboForex →
    Avg spread
    0.20pip
    broker-published typical
    Cost / lot
    $6.00
    incl. $4 commission
    Min deposit
    $10
    Max leverage
    1:500
    IFSC Belize offshore only — ECN tier; separate Pro account reaches 1:2000

    ECN account: 0.2 typical + $4 round-turn ≈ $6/lot — among cheapest commission tiers in our list · IFSC Belize only — no tier-1 regulator, no FSCS-equivalent protection

    Fits ifYou're in a non-restricted, non-EU-focused jurisdiction and want ECN-style $6/lot pricing at a $10 entry minimum
    PlatformsMetaTrader 4, MetaTrader 5, R Stocks Trader

    Founded in 2009 · Verified Jun 1, 2026

    Full RoboForex details →

Country context

Regulator
SMV · Superintendencia del Mercado de Valores — supervises listed securities and broker-dealers; Panama uses the USD as legal tender alongside the Balboa (PAB), which is pegged 1:1 to USD
Currency
USD
Payment methods
Wire transfer (USD)Bank transferYappyUSDT
Tax

Panama operates a territorial tax system — only Panama-source income is taxed for residents. Income from foreign brokers (foreign-source) is therefore generally not subject to personal income tax in Panama. Domestic securities trades are taxed at 10% capital gains via withholding by Panamanian brokers.

Retail trading rules

There are no statutory leverage caps for offshore-served residents; brokers apply their own limits (commonly 1:500 to 1:1000). The SMV publishes warnings against unauthorised solicitations and a register of locally licensed entities. Panama's USD base and territorial tax regime make cross-border broker funding straightforward.

Frequently asked

Which brokers accept residents of Panama?+

4 of 4 brokers in our ranking accept Panama: Deriv, XM Group, Libertex, RoboForex.

Who regulates brokers for Panama?+

Primary regulator: SMV — Superintendencia del Mercado de Valores — supervises listed securities and broker-dealers; Panama uses the USD as legal tender alongside the Balboa (PAB), which is pegged 1:1 to USD.

What payment methods are available?+

Common methods: Wire transfer (USD), Bank transfer, Yappy, USDT.

What are the tax rules for trading in Panama?+

Panama operates a territorial tax system — only Panama-source income is taxed for residents. Income from foreign brokers (foreign-source) is therefore generally not subject to personal income tax in Panama. Domestic securities trades are taxed at 10% capital gains via withholding by Panamanian brokers.

Scope of coverage

Brokers tracked
14
Regulators indexed
55
Regulator actions logged
2
Latest pricing verification
Jun 1, 2026

Pricing and licensing status refresh weekly; the ranking is reviewed quarterly.