Table of Contents
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex Brokers in Spain

Spain is a developed economy at the heart of the EU and provides Forex traders with excellent technological infrastructure. Forex trading in Spain is widespread, and Spain often leads Latin American ventures and advancements in the finance space.

My Forex Brokers in Spain review analyzed dozens of brokers that provide services popular with Spanish Forex traders to determine the most competitive providers.

1
4.9/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Regulatory license from Cyprus CySEC for Spanish traders & dedicated Spanish website.
Competitive commission-based trading costs & well-balanced asset selection.
2
4.8/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Spanish website with 24/5 customer support & well-balanced asset selection.
Deep liquidity from 46 liquidity providers & fast order execution under 30 milliseconds.
3
4.7/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
EUR deposits via six payment processors, including cryptocurrency deposits.
Scalping and algorithmic trading from EUR-denominated trading accounts.
4
4.6/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
ECN-style trading
Daily market research and Autochartist access
5
4.5/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
High level regulation in multiple jurisdictions
Impressive range of tradeable assets including vanilla options and gold options

Best Forex Brokers in Spain at a Glance

  • Eightcap, Competitive pricing + excellent daily videos.
  • ACY Securities, Swap-free trading with the MT5 trading platform.
  • DNA Markets, Super asset selection for Forex and cryptocurrency traders.
  • FP Markets, ECN trading with leverage up to 1:500.
  • AvaTrade, Highly regulated, choice of fixed or floating spreads.

Best Spanish Brokers Comparison

Regulators
ASIC, CySEC, FCA, SCBASICASICASIC, CySEC, FSCAASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID
Year Established
20092011202320052006
Execution Type(s)
ECN/STP, Market MakerECN/STP, Market MakerECN/STP, Market MakerECN/STPMarket Maker
Minimum Deposit
$100
$50
$100
$100
$100
Average Trading Cost EUR/USD
1.0 pips1.1 pips ($11.00)1.1 pips ($11.00)1.1 pips0.9 pips
Average Trading Cost GBP/USD
1.2 pips1.1 pips ($11.00)1.3 pips ($13.00)1.4 pips1.5 pips
Average Trading Cost Gold
$0.12 $0.15 $0.12 $0.21 $0.29
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Trading ViewMetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-basedOther, MetaTrader 4, MetaTrader 5, Web-based+
Islamic Account
Negative Balance Protection

Eightcap

In Summary Competitive pricing + excellent daily videos

Traders at Eightcap benefit from access to Capitalise AI for MT4, enabling algorithmic trading in a code-free environment. It places Eightcap among our Forex Brokers in Spain list with the most advanced trading tool. The FlashTrader plugin upgrades MT5, and the dedicated cryptocurrency solution Crypto Crusher ensures crypto traders have an edge, while the AI-powered economic calendar is an excellent feature for news traders.

Eightcap provides quality educational content and research for beginner traders via Eightcap Labs and Eightcap Trade Zone and offers 24/5 customer support. Copy traders get the trusted, embedded MT4/MT5 copy trading services, and Eightcap also connects social traders to TradingView.

Read more on Eightcap »
4.9/5 in this category

Pros & Cons

  • Low minimum deposit and high leverage of up to 1:500
  • Competitive cost structure
  • Excellent technology infrastructure and seasoned management team
  • Daily research and quality educational content
  • Limited leverage in some areas

ACY Securities

In Summary Swap-free trading with the MT5 trading platform

ACY Securities provides 15 high-quality MT4/MT5 plugins, making it the broker from our Forex Brokers in Spain list with the most upgraded trading environment. It also offers Capitalise AI, allowing traders to deploy algorithmic strategies in a code-free environment. The cutting-edge trading infrastructure, boosted by competitive, commission-based trading fees, makes ACY Securities ideal for scalpers and algorithmic traders. VPS hosting is available and allows traders 24/5, low-latency market access.

Copy traders can rely on the embedded MT4/MT5 services or explore Signal Start and SoFinX. ACY Securities offers clients three withdrawals monthly free of charge, including cryptocurrency transactions, with same-day processing if withdrawal requests are made before 16:00 AEST.

Read more on ACY Securities »
4.8/5 in this category

Pros & Cons

  • Large repository of daily analysis and educational content
  • Low spreads starting at 0 pips in the Spread Zero account
  • 16 payment processors, including cryptocurrencies
  • Competitive trading fees in its commission-based accounts
  • Only 1 regulator

DNA Markets

In Summary Super asset selection for Forex and cryptocurrency traders

DNA Markets offers competitive commission-based trading fees with raw spreads from 0.0 pips for a commission of $6.00 per 1.0 standard round lot. There are no restrictions on trading strategies, and DNA Markets allows micro lot trading from 0.01 lots or 1,000 currency units. The margin call level is at 100% margin level, with an automatic stop-out level of 50%. The balanced asset selection consists of 800+ trading instruments, placing DNA Markets within my best Forex brokers in Spain listing.

Traders can use MT4, MT5, and fee-based Signal Start, for which DNA Markets pays the first three months.

Read more on DNA Markets »
4.7/5 in this category

Pros & Cons

  • Competitive, commission-based trading fees
  • Choice of payment processors, including cryptocurrencies
  • Excellent choice of Forex and cryptocurrency pairs
  • MT4/MT5 trading platforms for algorithmic and copy trading
  • Limited commodity asset selection and no ETF trading

FP Markets

In Summary ECN trading with leverage up to 1:500

fpmarkets is an ASIC-regulated Australian brokerage which launched in 2005. For most traders, the unique selling point of this broker is in the extremely wide range of tradable assets offered, providing the opportunity to trade over ten thousand individual stocks and shares including publicly quoted Hong Kong and Australian companies. Ffpmarkets also offers 60 Forex pairs and crosses, 11 equity indices, the major commodities, and 5 cryptocurrencies including Bitcoin. fpmarkets offers an unusual hybrid ECN/STP execution model, meaning their clients can choose between ECN style of execution giving a very high level of speed, and a “straight through processing” execution style which allows for more “natural” spreads.

Read more on FP Markets »
4.6/5 in this category

Pros & Cons

  • Choice of trading platforms and auxiliary trading tools
  • Very competitive cost structure and excellent asset selection
  • Low minimum deposit requirement and leverage of up to 1:500
  • Well-regulated and trustworthy
  • Availability of Iress geographically restricted

AvaTrade

In Summary Highly regulated, choice of fixed or floating spreads

AvaTrade is one of the largest Forex / CFD brokers and well-known for offering their clients a choice of fixed or floating spreads. They have a very high and strong level of regulation. AvaTrade is directly regulated in Ireland (and by extension, the European Union), Australia, Japan, South Africa, and the British Virgin Islands. Outside the European Union, Ava offers maximum leverage on Forex currency pairs as high as 400 to 1. AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares. 2 bonds and 6 ETFs are also on the menu.

Read more on AvaTrade »
4.5/5 in this category

Pros & Cons

  • High quality educational offering via AvaAcademy
  • Excellent choice of trading platforms catering to various trading needs
  • Broad asset selection and cross-asset diversification opportunities
  • Well-regulated and trusted broker with oversight from a central bank
  • Trading costs competitive but nothing special

What to Look for in a Forex Broker from Spain

All competitive Spanish Forex brokers should offer the following:

  • Regulation - 10+ years of a clean regulatory track record.
  • Low trading fees - Competitive trading fees and swap rates, including positive swaps paid out on relevant overnight positions/
  • Trading platforms - Algorithmic, copy, and mobile trading capabilities.
  • Asset diversity - A choice of liquid trading instruments.
  • Deposits/Withdrawals - No internal transaction fees and low minimum requirements.

Forex Trading Regulations in Spain

The Comisión Nacional del Mercado de Valores (CNMV) regulates the domestic Forex market but operates under the European Securities and Markets Authority (ESMA) framework, enforcing the Markets in Financial Instruments Directive II (MiFID II). The CNMV does not require Forex brokers to obtain a license from the CNMV, and most brokers within my Forex Brokers in Spain review serve Spanish Forex traders from an EU-based subsidiary.

How Much is Forex Leverage in Spain?

Retail Forex traders in Spain get a maximum Forex leverage of 1:30, in compliance with ESMA regulations. A professional account upgrade exists for qualifying traders who can increase this to 1:500, the industry standard for retail traders in competitive jurisdictions. All brokers within my Forex Brokers in Spain review offer negative balance protection. Forex traders should always use proper risk management when trading leveraged accounts.

How to Start Forex Trading in Spain?

Traders can shorten their learning curve by considering the tips below before funding a live account with a broker from my Forex Brokers in Spain list.

Here are tips on how to start Forex trading in Spain:

  1. Begin with quality education.
  2. Respect Forex trading as a highly skilled profession.
  3. Trading psychology separates up to 90% of unprofitable traders from profitable ones.
  4. Study the relationship between leverage and risk management.
  5. Leverage magnifies profits and losses.
  6. Risk management is an important factor in any successful trading strategy.
  7. Choose a suitable trading strategy that reflects your personality and strengths.
  8. Low trading fees determine a competitive trading environment.
  9. Master the use of take profit and stop loss order placement.

What is the Best Trading Platform in Spain

Most brokers within my Forex Brokers in Spain review offer MT4, the leading algorithmic trading platform in Spain, as 80%+ of daily Forex trading volume is algorithmic. MT5 and cTrader come in as the second and third-best choices, as they lack the versatility of MT4. Traders can upgrade MT4 via 25,000+ custom indicators, templates, and EAs, and MT4 supports API connectivity and copy trading.

Forex Trading Taxation in Spain

During my Forex Brokers in Spain analysis, I uncovered that Forex traders are liable for a capital gains tax or income tax, dependent on an individual's situation, but the rates are identical. Spain differentiates between trading income from Forex trading and speculative income from asset sales. Traders may also claim a €2,000 yearly allowance covering costs.

Potential Forex trading taxes in Spain consist of the following:

  • 19% capital gains tax/income tax on the first €5,999.99
  • 21% capital gains tax/income tax from €6,000.00 to €49,999.99
  • 21% capital gains tax/income tax from €50,000.00

Forex traders in Spain should consult a legal professional to seek tax advice in Spain to ensure compliance with local rules and regulations.

Pros & Cons of Forex Trading in Spain

Before opening an account with a broker within my Forex Brokers in Spain review, traders should evaluate the pros and cons of Forex trading in Spain.

The pros of Forex trading in Spain are:

  • Lower capital requirements versus other assets
  • Low-latency algorithmic and API trading
  • Passive income opportunities
  • Copy and social trading
  • PAMM/MAM accounts
  • 24/5 decentralized market
  • Mobile trading

The cons of Forex trading in Spain are:

  • Disrespect for Forex trading as a high-skilled profession
  • Emotion-based decision-making
  • Unrealistic trading expectations
  • Manual trading in an algorithmic trading environment
  • Disconnect between leverage and its relationship to risk management
  • False sense of accomplishment from demo trading
  • Uncompetitive trading conditions
  • Restrictive retail leverage
  • No bonuses or incentives

Bottom Line

Spain is home to an active Forex market despite falling under the restrictive ESMA environment, algorithmic trading and mobile copy trading rank among the most popular strategies. Spain is also a core influencer of Latin American Forex trading, making traditional account management via PAMM/MAM accounts another dominant approach, with many Spanish account managers serving the global, Spanish-speaking population. Most brokers within my Forex Brokers in Spain review cater to Spanish Forex traders via EU-based subsidiaries.

You might also be interested in reviewing the below top brokers:

FAQs

Who is the best Forex trader in Spain?

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No data exists to answer this question, and existing answers are marketing-oriented responses.

Is Forex trading allowed in Spain?

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Yes, Forex trading is allowed and popular in Spain.

Can I open a brokerage account in Spain?

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Individuals aged 18 and above can open a brokerage account in Spain.

Which organizations regulate the Forex market in Spain?

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The Comisión Nacional del Mercado de Valores (CNMV) and the Bank of Spain regulate the domestic Forex market.

Can I day trade in Spain?

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Yes, there are no restrictions on day trading in Spain.

Is Forex trading legal in Spain?

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Yes, Forex trading is legal in Spain and regulated by the CNMV.

Christopher Lewis
About Christopher Lewis

Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.