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Best Forex Brokers in Spain 2021

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Choosing a forex broker in Spain should not be a difficult task, considering there are so many competent brokerages. However, when choosing a broker, you want to ensure it’s the best possible one for you. Inside we feature a list of the very best brokers for the Spanish market. The list is based on our own expert research and through feedback from our users.

The brokers below represent the best forex brokers for trading in Spain.

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BrokerOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotions
Eightcap
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Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing substantially more than your initial investment). A Product Disclosure Statement (PDS) and a Financial Services Guide (FSG) for our products are available to download from our Legal Documentation page. You must assess and consider them carefully before making any decision about using our products or services.

ASIC, VFSC

$100

1:500 (ASIC), 1:500 (VFSC)

MT5

2009

Market Maker

FP Markets
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DISCLAIMER: This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.

ASIC, CySEC

$100

1:500 (ASIC), 1:500 (CySEC)

MT4, MT5, IRESS, WebTrader

2005

DMA, ECN, No dealing desk, STP

Vantage FX
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Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.

VFSC

$200

1:1000 (VFSC)

MT4, MT5, WebTrader

2009

No dealing desk

BDSwiss
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This website is for general information purposes only and is operated by BDSwiss AG. BDSwiss AG is the BDSwiss Group’s Holding Company domiciled in Grienbachstrasse 11, 6300, Zug, Switzerland. BDSwiss AG does NOT offer any financial products or services.

CySEC, NFA, FSC, BaFin, FSA(JP)

$100

1:30 (CySEC), 1:30 (NFA), 1:30 (FSC), 1:30 (BaFin), 1:30 (FSA(JP))

MT5, Proprietary, WebTrader

2012

Market Maker, STP

Trade Nation
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Financial spread trading comes with a high risk of losing money rapidly due to leverage. You should consider whether you understand how spread trading works and whether you can afford to take the high risk of losing your money.

FCA, ASIC, FSCA, SCB

N/A

1:200 (FCA), 1:200 (ASIC), 1:200 (FSCA), 1:200 (SCB)

Proprietary

2020

Market Maker

IC Markets
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Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

ASIC, CySEC, FSA(SC)

$200

1:500 (ASIC), 1:500 (CySEC), 1:500 (FSA(SC))

MT4, MT5, cTrader

2007

ECN, No dealing desk

FXTM
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82% of retail CFD accounts lose money

FCA, CySEC, FSC

$10

1:30 (FCA), 1:30 (CySEC), 1:30 (FSC)

MT4, MT5

2011

No dealing desk

Plus500
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72% of retail CFD accounts lose money.

FCA, ASIC, CySEC, FSB, ISA, MAS

$100

1:30 (FCA), 1:30 (ASIC), 1:30 (CySEC), 1:30 (FSB), 1:30 (ISA), 1:30 (MAS)

Plus500

2008

No dealing desk

Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.


Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

EightCap

Eightcap

Regulated By:ASIC, VFSC

Foundation Year:2009

Headquarters:Australia

Min Deposit:$100

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Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing substantially more than your initial investment). A Product Disclosure Statement (PDS) and a Financial Services Guide (FSG) for our products are available to download from our Legal Documentation page. You must assess and consider them carefully before making any decision about using our products or services.

Eightcap Pty Ltd was founded in 2009 and is authorised and regulated by the Australian Securities and Investments Commission (ASIC) and is the official supplier of Scuderia Ferrari. The broker also opened Eightcap Global in 2019 which is incorporated in Vanuatu.

Users are offered two core trading accounts called Standard and Raw. The latter offers raw interbank pricing with a commission of $3.50 per lot traded and the former institutional-grade pricing with commission-free trading. Users can access 250 financial instruments covering Forex, Commodities, Indices, Shares and Cryptocurrencies.

Pros: Cons:
  • ASIC regulated.
  • Commission-free trading available.
  • Access to raw spreads available.
  • Can trade on MetaTrader 4 and MetaTrader 5.
  • No stocks in demo platform as advertised.
  • No MT4 web platform, just for MT5.

FP Markets

FP Markets

Regulated By:ASIC, CySEC

Foundation Year:2005

Headquarters:Australia

Min Deposit:$100

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DISCLAIMER: This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.

FP Markets was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC), offering segregation of client funds and top tier liquidity. FP Markets is a group of companies that includes First Prudential Markets Ltd which is authorised and regulated by the Cyprus Securities and Exchange Commission.

The broker offers the ability to trade on more than 10,000+ financial instruments covering Forex, Equities, Metals, Commodities, Indices and Cryptocurrency CFDs. Users have access to a range of accounts including the Standard Account (commission-free) and Raw Account (commission-based) for MetaTrader users, both offering ECN pricing and maximum leverage of 500:1. Users can also access Iress Accounts which are commission-based.

Pros: Cons:
  • ASIC regulated.
  • ECN pricing and DMA trading available.
  • 10,000+ tradable financial instruments.
  • Wide range of trading platforms and trading tools available.
  • Excellent customer support and education tools.
  • The volume of choice of markets and accounts may be overwhelming for beginner tra

Vantage FX

Vantage FX

Regulated By:VFSC

Foundation Year:2009

Headquarters:Vanuatu

Min Deposit:$200

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Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.

Vantage FX was founded in 2009 in Australia and is the brand name of the Vantage International Group which is regulated by the Cayman Islands Monetary Authority (CIMA) and advertises the segregation of client funds which are held with Australia’s AA rated National Australia Bank (NAB).

The broker offers services that are designed for both beginner and professional traders with access to Forex ECN trading, as well as CFD trading on Indices, Commodities and U.S and Hong Kong Shares on the MetaTrader 4 and MetaTrader 5 trading platforms for Mac, PC, iOS and Android as well as social trading platforms such as MyFXbook and Zulutrade.

Pros: Cons:
  • Forex ECN Trading.
  • U.S and Hong Kong Share CFDs.
  • Segregated client funds with the National Australia Bank (NAB).
  • Unique bonus and promotional trading offers.
  • No regulation from Europe or UK regulators.
  • Limited Share CFDs on offer.

BDSwiss

BDSwiss

Regulated By:CySEC, NFA, FSC, BaFin, FSA(JP)

Foundation Year:2012

Headquarters:Cyprus

Min Deposit:$100

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This website is for general information purposes only and is operated by BDSwiss AG. BDSwiss AG is the BDSwiss Group’s Holding Company domiciled in Grienbachstrasse 11, 6300, Zug, Switzerland. BDSwiss AG does NOT offer any financial products or services.

BDSwiss was founded in 2012 and offers trading accounts regulated under the Mauritius Financial Services Commission and the Cyprus Securities and Exchange Commission.

Users can trade on more than 250+ financial CFD instruments covering Forex, Commodities, Cryptocurrencies, Indices and Equities, on 3 account types called Classic, VIP and Raw on the MetaTrader 4 and MetaTrader 5 trading platforms and the broker’s own BDSwiss Web Trader and BDSwiss Mobile App.

The broker also offers educational events via live analysis and educational webinars and seminars, as well as a beginner to advanced courses in its Trading Academy. Users can also access AutoChartist and live trading alerts via Telegram, depending on account type. Customer service is offered 24/5.

Pros: Cons:
  • Multiple regulations.
  • Commission-free trading available.
  • Access to raw spreads available.
  • Can trade on MetaTrader 4 and MetaTrader 5.
  • Best spread accounts require higher minimum deposits.

Trade Nation

Trade Nation

Regulated By:FCA, ASIC, FSCA, SCB

Foundation Year:2020

Headquarters:United Kingdom

Min Deposit:N/A

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Financial spread trading comes with a high risk of losing money rapidly due to leverage. You should consider whether you understand how spread trading works and whether you can afford to take the high risk of losing your money.

Trade Nation was founded in 2020 in the United Kingdom. It is a brand name for Finsa Europe Ltd, a UK based investment firm authorised and regulated by the Financial Conduct Authority (FCA). The broker also has three entities located in Australia (ASIC), South Africa (FSCA) and the Bahamas (SCB), each authorised and regulated in their own jurisdictions.

The broker provides the ability to trade on more than 2,500+ financial instruments covering Forex, Stocks, Indices, Commodities and Bonds from its proprietary, feature-rich and easy to use Trader Nation web trading platform, as well as the popular MetaTrader 4 platform.

There are two account types available – Spread Trading and CFD. Both accounts come with good trading features including competitive fixed spreads, leverage up to 1:30 (in the UK and Australia) and no minimum deposit. Demo accounts are also available.

The broker offers fee-free funding methods via debit/credit card, bank transfer and Skrill. Processing times are also quick and there are no inactivity account fees. There is a Loyalty Scheme available, however, this does not apply to the UK and Australian entities.

Pros: Cons:
  • Globally regulated (FCA, ASIC, FSCA, SCB).
  • 2,500+ financial instruments.
  • Commission-free trading available.
  • Easy to use, feature-rich web platform.
  • Fast customer support.
  • Monthly loyalty rebate available
  • Not available for US residents.

IC Markets

IC Markets

Regulated By:ASIC, CySEC, FSA(SC)

Foundation Year:2007

Headquarters:Australia

Min Deposit:$200

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Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

IC Markets was founded in Sydney, Australia, in 2007 and is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), as well as the Seychelles Financial Services Authority (FSA).

The broker offers three core trading accounts called Raw Spread (cTrader), Raw Spread (MetaTrader) and a Standard Account (MetaTrader). Spreads start from zero pips on the Raw Spread accounts with commission-payable. The Standard Account offers commission-free trading with spreads from just one pip. The broker also offers demo trading accounts and Islamic swap-free accounts.

While the broker offers services and features designed for both beginner and professional traders, the company promotes themselves as the ‘go-to’ choice for high volume traders, scalpers and trading algos due to their New York Equinix NY4 data centre – processing over 500,000 trades per day. The broker also offers additional trading features such as social trading integration with ZuluTrade and MyFXbook.

Pros: Cons:
  • Raw spread accounts with institutional grade liquidity available.
  • Commission-free trading available.
  • MetaTrader and cTrader available on desktop, web and mobile.
  • Wide range of tradable products with 24/7 customer support.
  • Impressive library of educational material and videos.
  • Beginner traders may be overwhelmed by the choice of markets and platforms.

FXTM

FXTM

Regulated By:FCA, CySEC, FSC

Foundation Year:2011

Headquarters:Cyprus

Min Deposit:$10

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82% of retail CFD accounts lose money

FXTM, short for ForexTime, is a platform with a primary focus on foreign exchange. That specialization allows it to rise above many others when it comes to Forex focused trading platforms and tools. CFDs are available on 50+ currency pairs including major, minor, and exotic pairs. Leverage is available up to 1000:1.

Spreads are competitive across all platforms with 24-hour trading open 5 days per week. FXTM is based in Cyprus and licensed by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission, and other regulators in and out of the EU. A free demo account is available. 

 Pros:  Cons:
  • Support for 250+ products to trade across global markets, including Forex, commodities, shares, indices and cryptocurrency CFDs
  • Competitive spreads
  • MetaTrader 4 and MetaTrader 5 platform support
  • Low maximum order size
  • No native Mac desktop app

Plus500

Plus500

Regulated By:FCA, ASIC, CySEC, FSB, ISA, MAS

Foundation Year:2008

Headquarters:Israel

Min Deposit:$100

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72% of retail CFD accounts lose money.

Plus500 is a leading CFD trading platform with support for stocks, indices, cryptocurrencies, and Forex. This commission-free brokerage charges very low spread-rates and offers fast trades on a great platform. Plus500 supports complex trades.

You can start with a free demo account to test the platform and any trading strategy. Real money accounts offer leverage of up to 1:30. This broker is based in Israel and regulated by the Financial Conduct Authority (FCA) in the UK.

Pros: Cons:
  • Support for 2000+ products to trade across global markets,including Forex, commodities, shares, indices
    and cryptocurrency CFDs
  • No commission and low spread costs
  • Advanced trades and fast execution
  • Licensed in several regulatory hubs, and publicly listed
  • Only CFDs, no direct Forex trades
  • High rates on margin/leverage accounts
  • Less research data than some competitors

How to Choose a Forex Broker as a Spanish Trader

Spain is known to be a desirable destination among forex traders and brokers. Both traders and businesses benefit from the excellent regulatory guidelines imposed on the financial markets in Spain. Being apart of the EU and the European Economic Area, forex trading is subjected to the guidelines set by the MiFID which ensure safe, stable and secure investment practices among forex brokerages.

Spanish traders should always choose brokers who are regulated to conduct business in Spain. Below are a few important aspects to consider when choosing a forex broker in Spain.

  • Traders should only choose brokers regulated under the National Securities Market Commission, (CMNV).
  • Traders should choose companies with enticing bonuses along with low commissions and fees for maximum profits on investment.
  • Ensure the accounts offered by the broker have enough diversity and currency pairs to fit your trading needs.

General Regulation & Spanish Regulation

The financial and securities markets in Spain are regulated by a government agency known as the National Securities Market Commission, (CNMV). The main responsibility of this regulatory authority is to regulate the financial markets in Spain through the implementation of regulatory guidelines and policies. Their goal is to maintain and promote a fair and stable financial market with the protection of consumers in mind. In addition to this regulatory authority, the MiFID also correlates with the CNMV for the regulation of forex trading in Spain. This is due to Spain’s involvement in the European Economic Area.

Trading Platform & Software

The best forex brokers in Spain provide the most advanced and up to date trading platforms and software. Designed with the trader in mind, the best trading platforms offer an easy to use and visually pleasing interface, has a variety of analysis tools, and fast speeds for execution. A good trading platform will offer their traders up to date quotes and charts in an organized and easy to use format. The interface should be fast, informative, and easy enough to use. Many forex brokers in Spain offer a free trial of their platforms before a full commitment.

Commissions & Spreads

Spreads and commissions are both very important aspects of a forex broker. They go hand in hand and play a big part in whether the forex broker is worth your while. In fact, the spread is one of the most important things to consider when choosing a forex broker. With that said, we choose forex brokers with low spreads and comparable commissions.

Account Types

Spanish traders are fortunate to have multiple account types to choose from with most of the brokers offering forex trading services to Spanish clients. With that said, common account types available to Spanish forex traders are Micro, Premium, VIP, Zero Spread, Fixed, Currenex, HF Social, and Islamic accounts.

Customer Service

With the Spanish language being the second most spoken language in the world, traders have no problem whatsoever receiving customer service in Spanish.

Additional Services

The best forex brokers in Spain go the extra mile with their clients in offering additional services and resources such as educational material, training courses/classes communicative forums, and more.

Conclusion

Our best forex brokers in Spain list is created with the utmost certainty in quality and reputation. We have only gathered CNMV regulated brokers who are known to be reputable and competent with the services they provide. All our brokers offer excellent trading platforms, competitive commissions and fees, and a wide range in account types.

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