The ForexBrokers.com annual forex broker review (six years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. Here's how we test.
Residents of Spain can trade forex and CFD products. Forex brokers are not required to become authorised by the Comisión Nacional del Mercado de Valores (CNMV) to accept residents of Spain as customers. The English translation of "Comisión Nacional del Mercado de Valores" is National Securities Market Commission.
The Comisión Nacional del Mercado de Valores is the financial regulatory body in Spain. Website: http://www.cnmv.es/. We recommend residents of Spain follow the CNMV on Twitter: https://twitter.com/CNMV_Medios.
The CNMV was established in 1988 and is responsible for ensuring stability and transparency in the financial markets. For a historical breakdown, here's a link to the Comisión Nacional del Mercado de Valores webpage on Wikipedia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best Forex Brokers Spain
To find the best forex brokers in Spain, we created a list of all brokers that list Spain as a country they accept new customers from. We then ranked brokers by their Overall ranking.
Here is our list of the best forex brokers in Spain.
- IG - Best overall broker, most trusted
- Saxo Bank - Best web based trading platform
- CMC Markets - Excellent overall, best platform technology
- XTB - Great research and education
- eToro - Best for copy and crypto trading
- AvaTrade - Great for beginners and copy trading
- Plus500 - Trusted broker, great for beginners
Spain Forex Brokers Comparison
Compare Spain authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's ForexBrokers.com Overall ranking.
| Forex Broker | Accepts ES Residents | Average Spread EUR/USD - Standard | Minimum Deposit | Overall | Visit Site |
|---|---|---|---|---|---|
| IG | Yes | 0.828 | £250.00 | Visit Site | |
| Saxo Bank | Yes | 0.800 | $2,000.00 | N/A | |
| CMC Markets | Yes | 0.730 | $0.00 | N/A | |
| XTB | Yes | 0.900 | $0.00 | N/A | |
| eToro | Yes | 1.00 | $10-$200 | N/A | |
| AvaTrade | Yes | 0.910 | $100.00 | N/A | |
| Plus500 | Yes | 0.600 | €100 | N/A | |
| Admiral Markets | Yes | 0.800 | 100 | N/A | |
| Capital.com | Yes | 0.800 | $20.00 | N/A | |
| IC Markets | Yes | 0.620 | $200 | N/A | |
| XM Group | Yes | 1.600 | $5 | N/A | |
| Pepperstone | Yes | 0.690 | $200.00 | N/A | |
| FP Markets | Yes | 1.200 | $100 AUD | N/A | |
| Tickmill | Yes | 0.270 | $100.00 | N/A | |
| HYCM | Yes | 0.600 | $100 | N/A | |
| HotForex | Yes | 1.200 | $5 | N/A | |
| Vantage | Yes | 1.220 | $200 | N/A | |
| Moneta Markets | Yes | 1.220 | $50.00 | N/A | |
| VT Markets | Yes | 1.200 | $200 | N/A | |
| Eightcap | Yes | $100 | N/A | ||
| ACY Securities | Yes | 1.200 | $50 | Visit Site | |
| Trade Nation | Yes | 0.60 | $0 | N/A | |
| LegacyFx | Yes | 0.00 | $500 | N/A |
How to Verify CNMV Authorisation
Residents of Spain can search the CNMV company register to verify whether or not a broker is authorized. If a company is authorized, a company profile will be available with a registration number and date upon searching.
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Methodology
For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research.
Each broker was graded on 113 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read more about Trust Score here.
As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.
