Investing in the Santiago Stock Exchange is open to anyone with a Chilean tax ID (RUT) and a bank account, but it is not done directly with the exchange: you always trade through an authorized stockbroker. As of November 5, 2026 there are 24 stockbrokers in good standing in the Financial Market Commission (CMF) registry, including the brokerages of the big banks and several independents.
This guide explains how the Chilean exchange works today, which since July 2026 trades on nuam's common platform with Colombia and Peru; its trading hours; the steps to make a first purchase; what commissions cost with an example in pesos, and what changes in taxes from January 1, 2027. It is not a recommendation to buy any share or to choose a particular broker.
View the data as a table
| Chile's market capitalization | US$261,504 million |
| Shares traded in Chile in July | US$4,152 million |
| Trades on the new platform's first day | 50,744 |
| Stockbrokers registered with the CMF | 24 |
What the Santiago Stock Exchange is and how it works today
The Bolsa de Comercio de Santiago was founded on November 27, 1893 and since 1917 has occupied the building on La Bolsa street in downtown Santiago. Today it is part of nuam, the holding that groups the stock exchanges of Chile, Colombia and Peru. In July 2026 the Chilean equity market migrated to the new common trading infrastructure: on the first day US$155.5 million changed hands in 50,744 trades, 46.8% more in value than on the same day a year earlier, according to the statement reproduced by G5 Noticias.
The exchange trades shares, investment fund units, ETFs, bonds and other instruments. The benchmark index is the S&P IPSA, which groups the most traded shares; this article explains what the IPSA is and which companies make it up. In July 2026 the value of Chilean shares traded was US$4,152 million, 73% of all equity trading across nuam's three countries.
By market value, however, the Chilean exchange is the bloc's second: companies listed in Chile had a combined capitalization of US$261,504 million in July, behind Peru (US$342,948 million) and ahead of Colombia (US$176,653 million), according to nuam's Regional Market Report cited by CNN Chile.
Santiago Stock Exchange trading hours
Shares trade Monday to Friday, except holidays. The schedule published by the Santiago Stock Exchange includes a pre-opening from 9:00 to 9:25, when orders are entered for the opening auction, and continuous trading from 9:30 to 16:00 (Chile time). With the July 2026 platform change some details may vary, so it is wise to confirm current hours with your broker before trading. Orders sent outside trading hours wait until the next opening.
| Phase | Hours (Chile time) | What happens |
|---|---|---|
| Pre-opening | 9:00 to 9:25 | Orders are entered for the opening auction |
| Opening auction | Matching between 9:23 and 9:25 | The opening price of each share is set |
| Continuous trading | 9:30 to 16:00 | Orders are matched in real time |
| Settlement | Usually two business days later | Shares are paid for and held in custody in your name |
Source: schedule published by the Santiago Stock Exchange, as compiled by Rankia, updated October 27, 2026. The exchange's website does not allow automated queries; confirm the hours with your broker.
How to invest in the Santiago Stock Exchange step by step
- 1. Define your goal and time frame. Shares suit money you will not need for several years; for short-term goals there are less volatile options, such as a time deposit.
- 2. Choose a stockbroker registered with the CMF. Check that it appears as active in the registry (the full list is below) and compare its fee schedule: commission, fixed fee, account maintenance and custody.
- 3. Open an investment account. It is done online with your ID card; the broker asks for personal data, a bank account in your name and an investor profile questionnaire. You sign a general terms contract.
- 4. Transfer funds. Send them from your bank account to the broker's account.
- 5. Place the order. Look up the share by its ticker (such as SQM-B or CHILE), enter the quantity and the order type: limit (executes only at that price or better) or market (at the best available price).
- 6. Check the confirmation and invoice. The broker reports the execution price, commission and VAT. The shares are registered in your name at the Depósito Central de Valores, Chile's central securities depository.
A common mistake is buying with money you might need soon: a share can fall 20% or 30% in a few months. Another is putting everything in one or two companies. For those who do not want to pick shares one by one, mutual funds and ETFs let you buy a basket; fund costs are covered in our mutual funds guide.
Which stockbrokers are authorized
Only brokers registered with the CMF can intermediate shares on the exchange. The list below shows the stockbrokers in good standing as of November 5, 2026. Some well-known investment apps do not appear because they operate through one of these brokers or are registered in another category, such as securities agents; in those cases it is worth checking who holds custody of the shares.
| Banchile Corredores de Bolsa S.A. | 96.571.220-8 |
| BancoEstado S.A. Corredores de Bolsa | 96.564.330-3 |
| BCI Corredor de Bolsa S.A. | 96.519.800-8 |
| BICE Inversiones Corredores de Bolsa S.A. | 79.532.990-0 |
| BTG Pactual Chile S.A. Corredores de Bolsa | 84.177.300-4 |
| Consorcio Corredores de Bolsa S.A. | 96.772.490-4 |
| Corredores de Bolsa SURA S.A. | 76.011.193-7 |
| Credicorp Capital Corredores de Bolsa SpA | 96.489.000-5 |
| EuroAmerica Corredores de Bolsa S.A. | 96.899.230-9 |
| Finanzas y Negocios S.A. Corredores de Bolsa | 95.319.000-1 |
| Itaú Corredores de Bolsa Limitada | 96.665.450-3 |
| J.P. Morgan Corredores de Bolsa SpA | 76.109.764-4 |
| Larraín Vial S.A. Corredora de Bolsa | 80.537.000-9 |
| MBI Corredores de Bolsa S.A. | 96.921.130-0 |
| Merrill Lynch Corredores de Bolsa SpA | 80.993.900-6 |
| Moneda Corredores de Bolsa Limitada | 76.615.490-5 |
| Nevasa S.A. Corredores de Bolsa | 96.586.750-3 |
| Renta 4 Corredores de Bolsa S.A. | 76.529.250-6 |
| Santander Corredores de Bolsa Limitada | 96.683.200-2 |
| Scotia Corredora de Bolsa Chile Limitada | 96.535.720-3 |
| Tanner Corredores de Bolsa S.A. | 80.962.600-8 |
| Valores Security S.A. Corredores de Bolsa | 96.515.580-5 |
| Vantrust Capital Corredores de Bolsa S.A. | 76.547.150-8 |
| Vector Capital Corredores de Bolsa SpA | 76.513.680-6 |
What buying shares costs: commissions, VAT and fees
Each broker sets its own fees and publishes them on its website or in its contract. As an example of a public fee schedule, Renta 4 Corredores de Bolsa's 2026 schedule charges on its platform a variable commission of 0.15% of the amount plus a fixed fee of CLP 3,500, paid only once on the day an order is executed; through other channels the commission is 1.0%. All plus 19% VAT. The minimum per trade is CLP 110,000 and account maintenance costs CLP 5,000 plus VAT per month, except for the first three months or for portfolios above CLP 50 million (Renta 4 fee schedule, checked November 5, 2026).
| Purchase amount | 0.15% commission | Fixed fee | 19% VAT | Total cost | % of amount |
|---|---|---|---|---|---|
| CLP 200,000 | CLP 300 | CLP 3,500 | CLP 722 | CLP 4,522 | 2.26% |
| CLP 500,000 | CLP 750 | CLP 3,500 | CLP 808 | CLP 5,058 | 1.01% |
| CLP 1,000,000 | CLP 1,500 | CLP 3,500 | CLP 950 | CLP 5,950 | 0.60% |
| CLP 5,000,000 | CLP 7,500 | CLP 3,500 | CLP 2,090 | CLP 13,090 | 0.26% |
| CLP 10,000,000 | CLP 15,000 | CLP 3,500 | CLP 3,515 | CLP 22,015 | 0.22% |
Source: Pauta Financiera calculation using Renta 4's 2026 fee schedule (platform channel, one order in the day). It excludes exchange fees and monthly maintenance. It is used as an example because its schedule is public; other brokers charge different percentages, per-trade minimums or plans without a fixed fee.
The conclusion applies to any broker: with a fixed fee, small purchases are proportionally expensive and it pays to group amounts; with a high percentage commission, it weighs more on large amounts. Selling also pays a commission. To gauge whether an investment outweighs its costs over time, it helps to understand how compound interest works.
Are you a stockbroker, fund manager or investment platform? Reach Pauta Financiera readers who are starting to invest.
See advertising optionsTaxes: what changes in 2027 for stock market gains
Today, the gain from selling shares of listed corporations with stock market presence (sufficient liquidity) pays a single 10% tax, in force since September 2022 under Law 21,420, according to SII Circular 39 of 2022. That treatment, under Article 107 of the Income Tax Law, also covers mutual fund and investment fund units that meet the legal requirements.
That is about to change. Law 21,850, on national reconstruction and economic and social development, published in the Official Gazette on October 17, 2026, restores those gains to non-taxable income status from January 1, 2027, according to the summary by law firm NSS and Cuatrecasas' effective-date calendar. Shares without stock market presence follow the general regime. Dividends, meanwhile, are taxed under the personal global complementary tax, with a credit for the corporate tax paid by the company in the percentages set by law.
| Situation | Until Dec 31, 2026 | From Jan 1, 2027 |
|---|---|---|
| Sale at a gain of a share with stock market presence | Single 10% tax | Non-taxable income (0%), subject to the law's requirements |
| Sale of a share without stock market presence | General regime | General regime |
| Dividends | Global complementary tax with credit | Global complementary tax with credit |
Sources: SII, Circular 39 of 2022; Law 21,850 on LeyChile; NSS summary, October 19, 2026. The SII must issue instructions; for a specific case it is advisable to consult a tax adviser.
- 1893The Santiago Stock Exchange is foundedNovember 27
- 1917The building on La Bolsa street opensDesigned by architect Emile Jecquier
- 1977The IPSA index is created
- 1991The chalkboard gives way to an electronic screen
- 2011MILA integration with Colombia and Lima
- July 2026Chile moves to nuam's common platform
- January 2027The exemption on gains from liquid shares returnsLaw 21,850
Common risks and mistakes when starting out
- Volatility: a share's price changes every day and can stay below the purchase price for years.
- Concentration: a single company or sector exposes you to specific risks; diversifying reduces them.
- Liquidity: some shares trade little and it can be hard to sell at the expected price.
- Accumulated costs: frequent buying and selling multiplies commissions and VAT.
- Currency: several Chilean companies depend on copper or the dollar; if you invest in foreign shares, the exchange rate adds another risk, as explained in our guide to the S&P 500 from Chile.
Frequently asked questions
How much money do you need to invest in the Santiago Stock Exchange?
There is no legal minimum, but each broker sets its own: in Renta 4's 2026 fee schedule the minimum per trade is CLP 110,000. With small amounts, fixed fees weigh proportionally more.
What time does the Santiago Stock Exchange open?
Continuous share trading runs from 9:30 to 16:00, Chile time, with a pre-opening from 9:00 to 9:25. Confirm current hours with your broker, as the platform changed in July 2026.
Can I buy shares without a broker?
No. Orders on the exchange can only be executed by stockbrokers authorized by the CMF. There are 24 in good standing as of November 5, 2026.
Do you pay taxes on stock market gains?
Until December 31, 2026, the gain from selling shares with stock market presence pays a single 10% tax. From January 1, 2027, under Law 21,850, it becomes non-taxable income again if the requirements are met. Dividends are taxed under the global complementary tax.
What is a share's ticker in Chile?
It is the code (nemotécnico) that identifies each share on the exchange, for example CHILE for Banco de Chile or SQM-B for SQM's B series. It is used to look it up and place orders.
Notice: this information is journalistic and educational, not financial advice. Check the terms and the total cost (CAE) with the institution before signing up.
