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4 Best Forex Brokers in Spain for 2025
Looking for the top forex broker in Spain? After testing 80 brokers this year, our experts have identified the 4 best options tailored to diverse trading needs, complete with practical tips.
By:
Reviewed By:
Updated: Jun 10, 2025
List of Top Forex Brokers in Spain
Tightly regulated. 2100+ tradable instruments. Lighting execution averaging 12 milliseconds. Robust market research. No deposit requirement.
MT4, MT5, Ava Web Trader platforms. AvaTrade and AvaOptions apps. Favorable trading fees. Comprehensive educational content. Reliable customer support.
Advanced trading platform. Listed on the SIX Swiss Exchange. Autochartist content. Trading FIX APIs. Lighting execution speeds of about 9 milliseconds.
Globally recognized brand. 5,800+ tradable instruments. Beginner-friendly platform and app. Comprehensive educational content. Enhanced social and copy trading solutions.
Forex Trading in Spain
Forex trading in Spain is regulated by the national supervisory body, Comisión Nacional del Mercado de Valores (CNMV). Among its many other priorities, the CNMV is responsible for overseeing the transparent and safe operations of local forex brokers dealing with traders from Spain.
The CNMV operates under the European MiFID II directive. This means it requires the same safety mechanisms that other European regulators mandate (segregation of client funds, negative balance protection, participation in the Investor Compensation Fund, and capping retail leverage at 1:30). Accordingly, Spanish traders can choose to open accounts with brokers based and regulated in other EU countries and expect the same client protections.
How Did FXEmpire Select the Best Forex Brokers in Spain?
- Regional Licensing: We included only brokers authorized to operate in Spain, prioritizing those licensed by the CNMV, while also considering those regulated by other European authorities.
- Availability to Spanish Residents: Only brokers that accept Spanish clients were considered.
- EUR as Base Currency: All selected brokers support the euro (EUR) as a base account currency.
- Localized Services: We required brokers to offer platforms, websites, and customer support in Spanish.
- Access to Local Markets: Preference was given to brokers with broad product offerings, including currency pairs, commodities, share CFDs, and indices from European markets.
Our team of experts has identified each broker’s strengths and weaknesses using FXEmpire’s comprehensive methodology. Here’s how we test.
Now let’s dive into the selected brokers.
Best Overall
4.6
73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing money. (EU, UK)
- $100Min Deposit
- 1995Tradable Instruments
- HighFees
Why We Picked It
FxPro is a financial derivatives broker headquartered in London and established in 1999. It offers more than 2,100 tradable instruments across currency pairs, commodities, share CFDs, indices, cryptocurrencies, futures contracts, and ETFs. Nearly 400 of those are from European markets, making the broker a perfect choice for local traders.
Key Features:
- Entity for Spanish Traders: FxPro Financial Services Ltd, regulated by CySEC
- Max Leverage: 1:30 for retail traders and 1:200 for professional traders
- Website and customer support in Spanish: Yes
- Platforms in Spanish: Yes (except for FxPro Trading Platform)
- Available Platforms: FxPro Web Trader, MT4, MT5, and cTrader
- European Markets: 19 currency pairs, 2 metals, 352 share CFDs, 8 indices, 6 futures, multiple ETFs
- Spanish Assets: 1 Index
I performed my testing on a Standard FxPro account, featuring an all-inclusive spread starting from 1.2 pips and zero commissions. There is no minimum deposit requirement, making the account type quite affordable. Live testing revealed that FxPro’s spreads generally sit in the middle range.
FxPro steps up its game with its excellent web platform, which boasts an intuitive design and advanced charting capabilities. The platform features over 60 analytical tools and chart configurations, supports market, limit, and stop orders, and offers one-click trading, DoM, and an alert-setting option.
FxPro also distinguishes itself with its industry-leading order execution performance. The broker achieves an average order execution speed of 12 milliseconds, beating the industry benchmark of 60 milliseconds. It also provides free Virtual Private Server (VPS) hosting.
Spanish traders with FxPro can also benefit from its robust market research and comprehensive educational content. The broker tracks the latest market developments and informs its clients of viable trading opportunities. It also provides multiple types of educational content focusing on technical analysis, fundamental analysis, and trading psychology.
Pros and Cons
Pros
- Great selection of platforms
- Ultra-fast order execution
- 2100+ tradable instruments
- Free VPS hosting
Cons
- FxPro Trading Platform is not available in Spanish
Best Low Spreads
4.6
Trading CFDs and FX Options entail risk and could result in the loss of your capital.
- $100Min Deposit
- 853Tradable Instruments
- LowFees
Why We Picked It
The Ireland-based AvaTrade was established in 2006 as a forex and CFD broker that offers more than 840 instruments in different markets. AvaTrade has an impressive lineup of user-friendly platforms supplemented with low trading fees.
Key Features:
- Entity for Spanish Traders: Ava Trade EU Ltd, regulated by CBI (Ireland)Max Leverage: 1:30 for retail traders and 1:200 for professional traders
- Website and customer support in Spanish: Yes
- Platforms in Spanish: Yes
- Available Platforms: Ava Web Trader, MT4, MT5, AvaSocial, AvaOptions, DupliTrade
- European Markets: 15 currency pairs, multiple share CFDs, 7 indices, Multiple ETFs, 1 bond
- Spanish Assets: 1 Index.
AvaTrade’s universal account features a $100 minimum deposit, commission-free trading, and floating spreads starting from 0.9 pips. Our live testing showed the broker offers low spreads on share CFDs, low-to-average spreads on forex and commodities, average spreads on indices, and high spreads on Bitcoin.
Ava WebTrader is a robust platform with an intuitive interface and advanced charting tools, including 80 technical indicators, 13 drawing tools, 9 timeframes, 3 chart types, and support for all basic order types.
In addition to WebTrader, AvaTrade supports the popular MetaTrader 4 and 5 platforms and provides a user-friendly AvaTrade mobile app for trading on the go. For copy and social trading, traders can use the AvaSocial app or the DupliTrade platform. Market research is enhanced with insights from Trading Central.
Pros and Cons
Pros
- Selection of trading platforms and tools
- Social and copy trading
- Competitve trading fees
- Comprehensive educational content
Cons
- Only one account type
Best for Professional Traders
4.2
Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law.
- $1000Min Deposit
- 642Tradable Instruments
- HighFees
Why We Picked It
Swissquote is a Swiss-based banking institution that offers millions of investment instruments and a variety of trading assets. Founded in 1996, Swissquote has established itself as a major force in the European trading scene. The bank is listed on the SIX Swiss Exchange and stands out with its extremely versatile and sophisticated trading platform.
Key Features:
- Entity for Spanish Traders: Swissquote Bank Europe Ltd, regulated by CSSF (Luxembourg)
- Max Leverage: 1:30 for retail traders
- Available Platforms: CFXD, MT4, MT5, TradingView, SQX (for crypto trading)
- Website and customer support in Spanish: Yes
- Platform in Spanish: Yes
- European Markets: 17 currency pairs, 2 metals, Multiple share CFDs, 9 indices, 1 bond
- Spanish Assets: 2 indices
I tested the CFXD platform, which impressed me with its streamlined design, multiple supporting tools, and high-definition charts. I counted 86 technical indicators, 64 drawing tools, 15 timeframes, and 16 chart types that help traders examine price action behaviour from multiple angles.
CFXD also supports market, limit, and stop orders, one-click trading and trading from the chart, setting of trading alerts, and watchlist customization. I also appreciated advanced trading instruments filters, which made it easy to navigate Swissquote’s wide range of markets, and integrated research content from Autochartist.
Swissquote achieves ultra-fast order execution speeds, averaging 9 milliseconds, and provides FIX API solutions for Direct Market Access (DMA) trading. The broker’s Standard account features zero commissions and floating spreads starting from 1.7 pips.
Pros and Cons
Pros
- Advanced trading platform
- Robust market research integration
- Trading and investing solutions
- FIX APIs
Cons
- Elevated spreads
Best for Beginners
4.3
61% of retail CFD accounts lose money.
- $100Min Deposit
- 6030Tradable Instruments
- HighFees
Why We Picked It
eToro distinguishes itself with its beginner-friendly offering and diverse selection of tradable instruments. It has one of the biggest and best-developed copy and social trading services, which is a great perk for beginners wishing to learn from other, more experienced traders.
Key Features:
- Entity for Spanish Traders: eToro (Europe) Ltd, regulated by CySEC
- Max Leverage: 1:30 for retail traders
- Available Platforms: eToro Web Trader
- Website and customer support in Spanish: Yes
- Platform in Spanish: Yes
- European Markets: 12 currency pairs, 1550+ share CFDs, 5 indices, 29 ETFs
- Spanish Assets: 52 share CFDs, 1 Index
One of the first things Spanish traders will notice about eToro is its strong local focus—it’s among the few brokers offering a wide range of Spanish stocks, with 52 share CFDs from companies listed on the Madrid Stock Exchange.
I tested the eToro web platform, which is user-friendly and well-suited for social trading. It offers over 160 analytical tools and chart configurations, and supports market, limit, and stop orders. The ‘Discover’ mode helps beginners identify trading opportunities, while the ‘Delta Tool’ supports more precise risk management.
eToro also stands out for its rich educational content. The broker offers hundreds of articles and tutorials, dozens of courses on key trading topics, and even produces its own podcast. New traders can explore technical and fundamental analysis, trading psychology, and risk management in depth.
Pros and Cons
Pros
- Enhanced social trading solutions
- 52 stocks of Spanish companies
- Comprehensive educational content
- Beginner-friendly platform
Cons
- No alternative platform
How to Choose a Forex Broker in Spain?
In this section, I will outline what traders should consider when looking for a trustworthy forex broker in Spain.
How to Verify Whether a Broker is Regulated in Spain?
Start by checking the broker’s official website—regulation details, including license numbers and regulatory authority names, are usually listed in the footer or on the “About Us” or “Regulation” page. If in doubt, contact the broker directly. A legitimate broker will clearly confirm their regulatory status.
Check out our guide on Best European regulated brokers.
How to check a broker’s protection level?
To ensure safety, choose a broker that complies with top-tier regulatory standards. Key protections to look for include:
- Segregation of Funds: Client funds are held in separate accounts to prevent misuse.
- Negative Balance Protection: Ensures you can’t lose more than your account balance—essential when trading CFDs.
- Leverage Limits: Top regulators cap retail leverage at 1:30 to reduce risk; offshore brokers may allow up to 1:2000.
- Compensation Schemes: EU-regulated brokers must join the Investor Compensation Fund (ICF), which covers client losses up to €20,000. Others may carry civil liability insurance.
Read more about client protections in our dedicated article.
What Fees Should You Consider?
- Spread: The difference between buy and sell prices; lower spreads reduce trading costs. Check out Best brokers with low spreads.
- Commission: Some brokers charge a flat fee per trade, while others include costs in the spread.
- Overnight (Swap) Fee: Applied for holding positions overnight, especially relevant for longer-term trades. Find Best brokers with low swaps.
- Inactivity Fee: Charged if your account remains idle for a set period.
- Deposit and Withdrawal Fees: Check for any costs tied to funding or withdrawing from your account.
- Currency Conversion Charges: May apply if your account currency differs from your deposit/withdrawal currency.
Choose a broker offering EUR as a base currency to avoid conversion fees.
- Platform or Tool Fees: Advanced platforms or premium tools may come with added costs.
- Tax Obligations: Be aware of capital gains tax or financial transaction taxes, depending on your broker and location.
Discover more in our guide on broker fees.
What to Avoid When Choosing a Forex Broker in Spain?
Here is a quick rundown of some of the most important things to avoid:
- Unregulated Brokers: Stay away from brokers that aren’t regulated. They operate outside legal oversight, which increases the risk of fraud and poor business practices. These brokers aren’t required to follow investor protection rules or participate in compensation schemes.
- Lack of Client Protection: Avoid brokers that do not provide at least two key safeguards, such as segregated funds, negative balance protection, compensation scheme membership, or a retail leverage cap of 1:30.
- Low Execution Quality: This can severely impact your trading outcomes. If a broker lacks a best execution policy, doesn’t publish execution reports, or has slow order speeds over 100 milliseconds, it’s best to steer clear.
- High Trading Fees: Avoid brokers with floating spreads starting from 1.8 pips or more on STP accounts or round-turn commissions exceeding $7 on ECN accounts.
How to Avoid Forex and CFD Scams?
- Choose a Reliable Broker: Work only with trustworthy and transparent brokers. You can find a list of reliable brokers by jurisdiction here.
- Ensure Online Safety: Avoid sharing personal information on suspicious pop-ups. Be cautious of unsolicited calls or emails promising enormous profits—licensed brokers don’t make cold calls.
- Verify Promises: If someone contacts you with extraordinary offers, remember: If it sounds too good to be true, it probably is.
- Do Your Research: Always verify a broker’s licensing, regulation, and reputation before opening an account.
By staying vigilant and conducting thorough research, you can protect yourself from falling victim to trading scams.
Meet Our Writers
The forex and CFD analysis team at FXEmpire is made up of seasoned trading industry professionals and experienced financial journalists. Our experts have been featured on leading financial platforms, including Investopedia and Forbes, and bring extensive hands-on trading experience to their work.
Get to Know Our Authors
Dan BlystoneBroker Analyst
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan SolankiBroker Analyst
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Plamen StoyanovBroker Analyst
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
Vladimir ZernovBroker Analyst
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
FAQ
Is forex allowed in Spain?
Yes, trading with financial derivatives instruments is allowed in Spain under MiFID II regulation.
What is CNMV?
The National Securities Market Commission (Comisión Nacional del Mercado de Valores) is Spain’s national regulator operating under the EU’s MiFID II directive.
How do I verify if a forex broker is regulated in Spain?
You can check CNMV’s register of authorized entities. Most EU-regulated brokers (e.g., by CySEC in Cyprus) are also allowed to provide trading services to Spanish residents.
What is ESMA, and what does it mean for forex traders?
The European Securities and Markets Authority (ESMA) is the EU’s central regulator, which organizes and directs national regulators within its broader framework, such as the CNMV in Spain or CySEC in Cyprus.
What is a CySEC-regulated forex broker?
A CySEC-regulated forex broker is licensed by the Cyprus Securities and Exchange Commission, a financial regulator within the EU. These brokers must comply with MiFID II rules, offering protections like segregated client funds, negative balance protection, and a €20,000 compensation scheme.
Do you need to pay tax for forex trading in Spain?
Yes, Spanish traders may be liable to pay a capital gains tax ranging from 19% to 27%.
What are the differences in protections between brokers regulated by CNMV or other EU regulators versus brokers regulated offshore?
EU-regulated brokers are obligated to keep client funds in segregated accounts, guarantee negative balance protection, participate in the Investor Compensation Fund (ICF), and cap retail leverage at 1:30. Overseas brokers often do not meet one or more of the above criteria.
Can I trade with non-CNMV-regulated brokers in Spain?
Yes, you can trade with overseas or offshore brokers, but it's not recommended, as they often lack the same investor protections offered by EU-regulated brokers.
Is cryptocurrency trading available in Spain?
Yes, trading with cryptocurrencies is available in Spain.
Can I trade forex in Spain without a broker?
No, trading with leveraged products requires the services of a financial derivatives broker.
About the Author
Plamen StoyanovBroker Analyst
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
Why you can trust FX Empire
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.