Are you looking for the best forex brokers in Spain? If your answer is yes, you’re in the right place because we have ranked the best forex brokers for you.
We ranked these brokers using our thorough review and ranking methodology to test and pick from several reputable forex brokers globally.
Ranking Methodology – While testing and ranking the best forex brokers in Spain, we considered several crucial factors, although one of the first critical factors we look into is the broker’s regulatory compliance.
We ensured the brokers who made it to the list are either regulated by the Comisión Nacional del Mercado de Valores (CNMV) in Spain, strongly regulated in Europe, or by other regulatory agencies that meet CNMV’s standards on a global level. CNMV is Spain’s major financial regulatory body which oversees investments and securities. Its primary responsibility is to regulate the financial markets in Spain by enforcing regulatory guidelines and policies. The goal is to protect financial consumers by maintaining and promoting a transparent and stable financial market.
That being said, other factors that influenced our judgments while ranking the brokers include trading fees (spreads, commissions, and overnight fees), non-trading fees, base currencies offered, product offering, execution model, execution speed, assets offered, trading platforms provided, research offering, education offered, and customer support service.
Table of Contents
5 Best Forex Brokers in Spain
Following our ranking methodology and with feedback from our users, here are the best forex brokers in Spain;
- IC Markets
- IG
- CMC Markets
- XTB
- XM
1. IC Markets
IC Markets is a leading global online broker and one of the world’s largest forex providers by trade volume, with over 29 Billion USD in FX trades processed daily. It offers CFDs on various global markets, including forex, stocks, commodities, indices, cryptocurrencies, bonds, and futures, with over 2250+ instruments to trade.
With IC Markets, you can enjoy a plethora of top-notch trading services, including transparent pricing, low trading & non-trading fees, consistent ultra-low spreads from 0.0 pips, fast trade executions, low slippage, deep liquidity, advanced trading platforms & tools, and 24/7 customer support service.
IC Market’s ease of use, and excellent trading conditions, make it a suitable broker for traders of all experience levels. IC Markets also provides adequate support for various trading strategies, such as hedging, scalping, and algorithmic trading. Likewise, Its unique trading conditions, such as ultra-low trading fees, fast execution, and deep liquidity, make it an excellent choice for active and high-volume traders.
IC Markets Overview
| Broker | IC Markets |
|---|---|
| Regulation | ASIC, FSA, and CySEC. |
| Forex Pairs | 61 Currency Pairs |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader |
| Minimum Deposit | $200 or currency equivalent. |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:500 |
| Account Currencies | AUD, USD, EUR (Euro), CAD, GBP, SGD, NZD, JPY, HKD, CHF. |
| Payment Methods | Credit and debit cards, Paypal, Neteller, Neteller VIP, Skrill, UnionPay, Wire Transfer, Bpay, FasaPay, Broker to Broker, POLI, Rapidpay, Thai Internet banking, Vietnamese Internet banking |
| Trading Tools | Virtual Private Server (VPS), Trading Servers, MT4 Advanced Trading Tools |
Pros
- Quick account setup.
- Strong regulatory framework.
- Over 180,000+ clients across 190 countries worldwide.
- Multiple industry standard trading platforms in web, mobile, and desktop versions.
- Deep liquidity.
- Clients’ funds are segregated.
- Over 61 currency pairs to trade, including major, minor, and exotic currency pairs.
- Offers high leverage (up to 1:500).
- Fast order execution.
- Supports all trading styles and strategies.
- Offers swap-free account.
- Low trading fees across all account types.
- Offers over 10 account base currencies.
- Offers Euro as an account base currency.
- Ultra-low spreads from 0.0 pips on IC Markets’ Raw Spread accounts.
- Multiple fast and secure payment methods.
- The demo account has an unlimited usage duration.
- No inactivity fee is charged.
- Excellent customer support service.
Cons
- Its product offering is limited to forex and CFDs.
- No proprietary trading platform is offered.
2. IG
IG is a highly reputable global online broker and one of the largest CFD providers in the world in terms of revenue and trade volume. It was established in 1974 by IG Group plc, a publicly-traded company on the London Stock Exchange and a constituent of the FTSE 250 Index.
IG offers spread betting, stockbroking, and CFD trading across a wide variety of global markets, including forex, shares, indices, commodities, cryptocurrencies, options, bonds, interest rates, sectors, and ETFs with over 18,000+ instruments to trade.
Along with access to a wide array of global markets, you can also enjoy exceptional brokerage services such as deep liquidity, superior trade execution, volume-based rebates, sophisticated trading platforms, expert customer support service, and much more.
IG’s ease of use, advanced trading tools, range of markets, research, and rich education offering, make it an excellent broker for both beginner and professional traders. Also, active and high-volume traders are welcomed with exceptional trading conditions and volume-based rebates, which can help keep trading costs down.
IG Overview
| Broker | IG |
|---|---|
| Regulation | CFTC, FCA, ASIC, FCA, FINMA, FMA, MAS, FSA, FSCA, DFSA, and BMA. |
| Forex Pairs | 81 Currency Pairs |
| Trading Platforms | ProRealTime, L2 Dealer, MetaTrader 4 |
| Minimum Deposit | $300 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:222 1:30 (for ESMA clients) |
| Account Currencies | USD, GBP, AUD, EUR (Euro), SGD, HKD. |
| Payment Methods | Bank Wire Transfer, Credit/Debit Cards, Paypal |
| Trading Tools | APIs, Virtual Private Server (VPS) |
Pros
- Strong regulatory framework.
- It is listed on the stock exchange.
- 45+ years of industry experience.
- 313,000+ clients worldwide.
- Deep liquidity.
- Fast order execution.
- Volume-based rebates for high-volume traders.
- No minimum deposit for bank transfers.
- Offers over 6 account base currencies.
- Offers Euro as an account base currency.
- Industry-standard trading platforms.
- Low forex trading fee.
- Excellent educational offering for beginner, intermediate and advanced traders.
- Outstanding research offering.
- Excellent customer support service.
Cons
- Inactivity fee charged (after two years of inactivity).
- No copy/ social trading platform.
3. CMC Markets
CMC Markets is a global Forex and CFD provider established in 1989 by CMC Group, a publicly-traded company listed on the London Stock Exchange and a constituent of the FTSE 250 Index.
CMC Markets offers forex, CFDs, and spread betting across a wide variety of global markets, including forex, indices, commodities, shares, ETFs, cryptocurrencies, and treasuries, with access to over 11,000+ instruments.
With more than 30 years of industry experience, CMC continues to offer its rapidly growing client base various unique trading solutions, such as advanced trading platforms, competitive pricing, superior order execution, and excellent customer support service.
CMC Markets offers a unique brokerage solution for beginner and professional traders. You would benefit from CMCs’ emphasis on ease of use, education, and excellent customer support service as a beginner. Experienced traders can also take advantage of its competitive pricing, higher leverage option, advanced trading platforms, and cash rebates.
CMC Markets Overview
| Broker | CMC Markets |
|---|---|
| Regulation | ASIC, IIROC, BaFin, MAS, FCA, FMA, DFSA |
| Forex Pairs | 300+ |
| Trading Platforms | Next Generation platform, MetaTrader 4 |
| Minimum Deposit | $0 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:500 |
| Account Currencies | GBP, EUR (Euro), USD, AUS, CAD, NOK, NZD, PLN, SEK, SGD |
| Payment Methods | Wire Transfer, Credit / Debit Cards, Electronic Payments. |
| Trading Tools | FIX API, Virtual Private Server (VPS) |
Pros
- Strong regulatory framework.
- Over 30+ years of industry experience
- Great for beginners.
- Trusted by over 300,000+ global clients.
- Its client’s funds are segregated.
- Deep liquidity.
- Fast order execution.
- Over 330+ currency pairs, including major, minor and exotic pairs.
- No minimum deposit.
- Fast and secure payment methods.
- Over 10 account base currencies.
- Offers Euro as an account base currency.
- Industry-standard trading platforms in web, mobile and desktop versions.
- Excellent customer support service.
Cons
- Its product offering is limited to only CFDs.
- Withdrawal fee charged for international bank transfer.
4. XTB
XTB (X-Trade) is a highly reputable online broker and one of the world’s largest stock exchange-listed forex and CFDs brokers. It was established in 2002 and is owned and operated by XXZW Investment Group SA.
XTB offers CFDs across a wide range of global markets, including forex, commodities, indices, stock, and ETFs, with over 2100+ instruments to trade.
Alongside an extensive list of tradeable instruments, other unique trading solutions offered by XTB include ultra-low trading fees, unmatched forex spreads, deep liquidity, multiple fast & secure payment methods, comprehensive educational resources, and dedicated customer support service.
While XTB offers several excellent brokerage services, its most attractive feature remains its extremely low-cost trading fees, one of the lowest in the industry. This makes it an ideal broker for traders looking for a reliable broker with very low-cost trading fees.
XTB Overview
| Broker | X-Trade Brokers (XTB) |
|---|---|
| Regulation | FCA, CySEC, PFSA, KNF, and IFSC. |
| Broker Type | NDD, Market Maker |
| Forex Pairs | 57 Currency Pairs |
| Trading Platforms | xStation 5, xStation Mobile |
| Minimum Deposit | $0 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:500 |
| Account Currencies | USD, EUR (Euro), GBP, HUF, PLN |
| Payment Methods | Bank Wire Transfer, Credit/Debit Cards, Paypal, Skrill, Neteller, PaySafe, SafetyPay, Paydoo, PayU, ECOMMPAY, BlueCash, Blik, Sofort |
| Trading Tools | API |
Pros
- Strong regulatory framework.
- It is regulated in Spain by the Comisión Nacional del Mercado de Valores (CNMV).
- It is listed on the stock exchange.
- Over 15 years of industry experience.
- Over 353,000+ Clients worldwide.
- Beginner Friendly.
- Deep liquidity.
- Fast order execution.
- Multiple fast and secure payment methods.
- 5 account base currencies.
- Offers Euro as an account base currency.
- Ultra-low forex-trading fees.
- Offers social trading, copy trading, and mirror trading.
- Extensive library of educational materials, including videos, webinars, and courses suitable for beginners and experienced traders.
- Excellent customer support service.
Cons
- Does not offer third-party trading platforms.
5. XM
XM is a multi-award-winning global online broker established in 2009 by Trading Point Holding. It is also one of the world’s biggest forex providers (by trade volume) and has an enormous client base of over 5 million traders across 190 countries worldwide.
XM offers CFDs across various global markets, including forex, stocks, commodities, equity indices, precious metals, energies, and shares, with over 1000+ instruments to trade.
Along with adequate support and excellent trading conditions, XM provides traders with a flexible trading ecosystem where traders of all levels can thrive. This is due to its tailored accounts offering, which comes with slight differences in structures, such as pricing and contract sizes.
Traders can choose from one or more account types, depending on what suits their trading needs. This also makes XM an ideal choice for traders with specific trading styles, such as scalpers and algorithmic traders.
Other significant advantages of trading with XM include deep liquidity, fast order execution, low minimum deposit (from $5), multiple fast & secure deposit and withdrawal methods, industry-standard trading platforms, quality education & research offering, and excellent customer support service.
XM Overview
| Broker | XM |
|---|---|
| Regulation | CySEC, DFSA, ASIC, IFSC, FCA, BaFin, CNMV (Spain), MNB, CONSOB, ACPR, FIN-FSA, KNF, AFM and FI. |
| Forex Pairs | 55 Currency Pairs. |
| Trading Platforms | MetaTrader 4, MetaTrader 5 |
| Minimum Deposit | $5 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:888 |
| Account Currencies | USD, EUR (Euro), GBP, JPY, CHF,AUD, HUF, PLN, RUB, SGD, ZAR |
| Payment Methods | Wire Transfer, Internet Banking, Local Bank Transfer, Credit/ Debit Cards, Neteller, Neteller VIP, Skrill, UnionPay, RapidPay, POLI |
| Trading Tools | Virtual Private Server (VPS) |
Pros
- Strong regulatory framework.
- It is regulated in Spain by the Comisión Nacional del Mercado de Valores (CNMV).
- Easy account registration process.
- Deep liquidity.
- Fast order execution.
- Multiple tailored account types.
- Offers swap-free accounts.
- Low minimum deposit (from $5).
- Industry-standard trading platforms in web, mobile and desktop versions.
- Supports all trading styles and strategies.
- Provides support for Expert Advisors (EAs).
- Offers 11 account base currencies.
- Offers Euro as an account base currency.
- Multiple fast and secure payment methods.
- Quality education & research offering.
- Ultra-low spreads from 0.0 pips on the Zero account.
- Excellent customer support service.
Cons
- No proprietary trading platform.
- Its product offering is limited to forex and CFDs.