This study evaluated the association between HIV risk perception and sociodemographic and behavioral characteristics among cisgender female sex workers in the five regions of Brazil. A cross-sectional, multicenter study using respondent-driven sampling was used. Sex workers over 18 years of age and who reported commercial sex in the past four months were included. All participants completed a questionnaire with sociodemographic and behavioral factors. In addition, the participants were offered a rapid HIV antibody test. Unweighted bivariate analyses and multivariable logistic regression models were used to evaluate the association of sociodemographic and behavioral factors. Overall, 794 HIV-negative participants were included (mean age = 34.44 years [SD = 6.49]). Most participants were brown/pardo (59.47%), from social class D-E (82.24%), and with medium education (57.12%). Most women perceived themselves to be at low to moderate risk (68.26%), 7.56% at no risk, and 24.18% at high risk for HIV infection. Those who frequently or always had sexual intercourse under the influence of alcohol had a 2.36 times higher probability of having a high HIV risk perception compared to those who never had sexual intercourse under the influence of alcohol. The data from this study aid in a better understanding of HIV risk perception and its impact on sexual behaviors among female sex workers. Although the majority considered themselves to be at low to moderate risk for HIV, some higher vulnerability behaviors were prevalent.