VoIP with ATA adapters from north america.

Well....

I assume you did the traceroute fingering to see how many hops it would take, yet this is only useful,  in terms of performance benchmarks, if you are using and end point in Sao Paulo/Rio towards South Florida. After that, your latency is anyone's guess.

Most VoIP carriers here, or should I say, aggregators, use a clear channel , meaning they lease a switch port or have a dedicated trunk, and run their own routers to send packets over the wire.  And they probably buy enough fiber color capacity to run their own traffic. 

The day of wholesaling minutes are over. 

GVT is owned by Telefonica, by far the carrier with the most fiber hops in the Country, outside its own LATA.  Then you have Embratel/Telmex/Claro, and then you have the others.   

A lot of your voice routes may, if you are bearing a lot of traffic, being sent through Level3/Century Link lines. 

Local ISPs, well most don't amount to squat.

No, was watching data via wireshark. bit more intuitive of what goes where. traceroute is very limited in terms of what information it provides in specifics unfortunatly. I prefer raw data.  Accuracy over assumption always !

wireshark.... interesting.. |I will keep it in mind.

gives you some in depth infomration even for voip. thus why i gave up on ata adapters. just seems its a older tech reaching its limits with little ground to improve on sadly. telecommunications isnt what it was 20 years ago