Remote trading in Brazil

Discussion in 'Professional Trading' started by mkmps, Nov 13, 2002.

  1. mkmps


    Basically, a big part of my personal life is moving there... are there any remote day-trading opportunities in Brazil. i would prefer to stay in a US-branded trading firm. I mean has anyone tried to see what are legal issues of moving the operations there and what legal status if any I need to obtain from Brazilian government?
    If anybody who trades from brazil, and could help me get started on where to look for prop trading firms in Brazil?
    Thanks in advance. M.
  2. ElCubano


    Contact....BolsaMundo in Miami.....They work with alot of latin american traders...they may be able to point you in the right me for their number ( if you are interested)

    disclaimer...I dont work for them nor am I assoiciated with this outfit.....
  3. I'm not sure what you are asking there. You intend to trade remotely? As a trader (not a principle) right? What purpose would there be in moving your operations to Brazil then?

    If all you want to do is trade remotely, you can simply trade with your current US prop firm from anywhere you can find an internet connection. (Presuming your firm permits remote trading.)

    You certainly don't need to join a Brazilian firm to trade from Brazil. I have a couple of relatives in Brazil who report that the broadband connections there are of good quality.

    As for your legal status, that depends very much on how long you intend to be staying in Brazil for. (The trading doesn't really come into it.)
  4. mkmps


    Where can I get some reasonable assumtions, in terms of how much housing costs, insurance and food and etc. (A great reference would be a price of a "Corona" in a mid-range club). I have to be able to see what it is that I need to make to pay the bills.
    I always sort of went with an assumption that it can't be more than here in lower Fairfield County?
  5. Trajan


    Somethings could cost more such as housing. Brazil is not a very safe country nor is it first world, it may cost more than expected for a level of comfort and security that you are used to. Also, you will be viewed as a wealthy American which means you pay the special gringo rate plus be a target for crime. I have read articles where wealthy Brazillians take helicopters to work because it isn't safe to drive. They live in ultra secure communities. You could live pretty cheaply if you went local.

    Rio definitely has a serious crime problem but other cities may be more secure, kind of like in Mexico, where Mexico city is not safe yet Monterey is better. Your infrastructure will not be very good. Going into a local trading office would put a mark on your back. Traders on the local exchange have bodyguards. It's worth it when they trade calls and puts for the same underlying in different pits(that was five years ago when I heard the story).
  6. Trajan


  7. Trajan


  8. mkmps


    thanks for the answers, i guess I'll at least save some money on drinks. hehe.
  9. speaking of which,

    which south american country is the most stable and trader-friendly?

    i've never been to SA (not even mexico) and am just curious to know which is best (besides the resort countries, i.e. panama).

    my guess based on what i've heard would be chile- any others??

  10. ElCubano


    since u included mexico....which is central america....

    I would say Costa Rica......which comes with legalized prostitution...
    #10     Nov 14, 2002