This news was published in 2012 http://exame.abril.com.br/mercados/interactive-brokers-expandira-para-o-brasil-ate-2013/ translate in english São Paulo - Interactive Brokers Group Inc., which trades around 10 percent of the world's traded stock options, plans to expand its business to Brazil by early next year, said Alex Ioffe, the broker's chief financial officer. Luciane de Castro Cortez, head of Interactive's Brazilian unit, is looking to hire a chief operating officer before the company files an application for an operating license with the Central Bank, Ioffe said. In January, President Dilma Rousseff authorized the company based in Greenwich, Connecticut, to start a brokerage in Brazil and asked the BC to take the necessary steps, according to a decree published in the Official Gazette. "We see Brazil as a growing market and a tremendous opportunity," Ioffe said in a telephone interview. "We hope to become a well respected brokerage in Brazil." Interactive, which processes assets traded on more than 100 electronic platforms, had 30 percent of its net revenue coming from outside the US market last year, compared to 19 percent in 2010, according to data compiled by Bloomberg. The company, which already has an office in Sao Paolo, will have a small local team, Ioffe said. The company hired Marcio Augusto de Castro as chief operating officer in June, according to a statement published in Sisbacen, BC's communication system with the market in June. Castro left the firm last month to join Redecard SA, the card processor said in a statement. Its 5 years after. Can someone from Interactivebrokers @def explain What happened?
They definitely pulled the plug as they realized pretty late how bizarre and complicated Brazilian laws are.
Every country has the own laws and conditions that broker houses have to meet. Saxo bank and other US banks, which have branches there meet this conditions. I still hope that IBKR return to Brazil.