The ForexBrokers.com annual forex broker review (four 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. How we test.
Trading forex (currencies) in Spain is popular among residents. While recommended, 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.
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 Trust Score Ranking.
Here is our list of the best forex brokers in Spain.
- Saxo Bank - Best VIP client experience
- IG - Best Overall Broker 2020
- CMC Markets - Best web platform, most currency pairs
- Swissquote - Best banking services
- Plus500 - Best for beginners overall
- FOREX.com - Great platforms and pricing
- City Index - Excellent all around offering
- FXCM - Well-rounded offering
- XTB - Best customer service, great platform
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 Trust Score.
| Forex Broker | Accepts ES Residents | Average Spread EUR/USD - Standard | Minimum Initial Deposit | Trust Score | Overall | Visit Site |
|---|---|---|---|---|---|---|
| Saxo Bank | Yes | 0.800 | $10,000.00 | 99 | N/A | |
| IG | Yes | 0.745 | £250.00 | 99 | Visit Site | |
| CMC Markets | Yes | 0.740 | $0.00 | 99 | N/A | |
| Swissquote | Yes | N/A | $1000.00 | 99 | N/A | |
| Plus500 | Yes | 0.600 | €100 | 98 | N/A | |
| FOREX.com | Yes | 1.400 | $100.00 | 93 | Visit Site | |
| City Index | Yes | 1.100 | £50.00 | 93 | N/A | |
| FXCM | Yes | 1.400 | £300 | 92 | N/A | |
| XTB | Yes | 0.860 | $0.00 | 92 | N/A | |
| eToro | Yes | 1.00 | $200 | 91 | N/A | |
| FxPro | Yes | 1.510 | $100.00 | 89 | N/A | |
| XM Group | Yes | 1.600 | $5-100 | 84 | N/A | |
| HYCM | Yes | 2.00 | $100 | 84 | N/A | |
| Tickmill | Yes | 0.530 | $100.00 | 81 | N/A | |
| easyMarkets | Yes | 0.900 | $100.00 | 81 | N/A | |
| FP Markets | Yes | 1.140 | $100 AUD | 81 | N/A | |
| IC Markets | Yes | 0.800 | $200 | 80 | N/A | |
| Vantage FX | Yes | 1.350 | $200 | 79 | N/A | |
| Moneta Markets | Yes | 1.300 | $200.00 | 79 | N/A | |
| VT Markets | Yes | 1.30 | $200 | 79 | N/A | |
| Eightcap | Yes | $100 | 70 | N/A | ||
| OctaFX | Yes | 1.100 | $5 | 63 | 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.
More Forex Guides
- Best Forex Brokers 2020
- Best Forex Brokers for Beginners 2020
- Best Forex Brokers for Copy Trading 2020
- Best MetaTrader Brokers 2020
- Compare Forex Brokers
Methodology
For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors 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.
