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Home » Forex Brokers » By Country » Spain

Best Forex Brokers in Spain

Usually, the brokers offering their services to EU and EEA countries are available to Spanish traders. To help you trade with the best brokers available in Spain, we have carefully analyzed factors like regulations, fees, minimum deposits, spreads, customer review, support, and additional features. Find our top 10 picks below.

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Neomarkets
trusted
Not available in
Country Flag
1
Neomarkets
1 customer reviews
Rating
4.8
/ 5
Expand
  • 24/7 instant money withdrawal
  • Affiliate Program
Pros

  • NeoMarkets is praised for its user-friendly approach, making it accessible and straightforward for novice and experienced traders to navigate the platform.

  • NeoMarkets allows trading cryptocurrencies through CFDs at competitive costs, providing traders with exposure to this popular asset class.

  • NeoMarkets is regulated by the Financial Services Commission (FSC) in Mauritius, adding an element of oversight and security for its clients.

Cons

  • NeoMarkets has a limited selection of deposit and withdrawal methods, potentially inconveniencing clients who prefer a broader range of options.

  • To access the demo account, users must first complete the registration process, which might deter those who prefer exploring the platform before committing.

  • NeoMarkets’ website lacks readily available information about its various account types, potentially making it challenging for traders to select the most suitable option.

  • Withdrawal fee$0 (conditions apply)
  • Deposit fee$0
  • Max Leverage1:500
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FxGlory
Not available in
Country Flag
2
FxGlory
9 customer reviews
Rating
4.7
/ 5
Expand
  • 24/7 instant money withdrawal
  • Specialized trading accounts
Pros

  • High Leverage Options

  • Low Initial Deposit Requirements

Cons

  • Lack of Proper Regulation

  • Withdrawal Issues

  • Poor Customer Support

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:3000
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FxPro
trusted
Not available in
Country Flag
3
FxPro
206 customer reviews
Rating
4.7
/ 5
Expand
  • 24/7 instant money withdrawal
  • Specialized trading accounts
  • Free VPS hosting
  • High leverage
Pros

  • Regulated by Multiple Tier-1 Authorities

  • Competitive Trading Conditions

  • Wide Range of Trading Platforms

Cons

  • Higher Commissions on Certain Platforms

  • Limited Educational Resources Compared to Other Brokers

  • Not Available Worldwide

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:10000
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XM
Not available in
Country Flag
4
XM
34 customer reviews
Rating
4.7
/ 5
Expand
  • Specialized trading accounts
  • Free VPS hosting
  • 24/7 instant money withdrawal
Pros

  • Regulated by Top-tier Authorities

  • Low Spreads and Commissions

  • Popular Trading Platforms

Cons

  • Limited Asset Coverage

  • Platform Selection Limited

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:888
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PU Prime
Not available in
Country Flag
5
PU Prime
0 customer reviews
Rating
4.6
/ 5
Expand
  • 24/7 Multilingual Customer Service
  • Proprietary Copy Trading App
Pros

  • Wide Range of Account Types: PU Prime provides a variety of account types designed to suit different trading styles and experience levels, from beginners to advanced traders.

  • Great Leverage: Control larger positions using minimal capital, thanks to leverage of up to 1:1000. This allows you to maximize opportunities in the market but remember, while higher leverage can enhance potential gains, it also increases risk. 

  • 24/7 Multi Channel Support: Round-the-clock assistance is provided by PU Prime through multiple channels, including live chat, email, and phone support. Services are offered in 18 languages, ensuring accessibility for a diverse range of traders.

Cons

  • Slightly Higher Spreads: For no-commission accounts, spreads starting at 1.3 pips are slightly higher than the industry average.

  • High Minimum Deposit: High minimum deposit for the low-spread and commission-based accounts

  • No EU Regulations: Despite being regulated by 4 authorities, including top-tier ASIC, the broker does not offer dedicated EU regulation for European clients.

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:1000
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OANDA
trusted
Available in
Country Flag
6
OANDA
13 customer reviews
Rating
4.5
/ 5
Expand
  • Exceptional Execution
  • US Clients
  • Scalping
Pros

  • OANDA is among the few international online forex brokers that accept U.S. clients.

  • The broker’s trading platforms are unique with features of various valuable tools and resources, including the famous Dow Jones Forex Select news and trading calculators.

  • OANDA does not require a fixed initial deposit on the standard account.

Cons

  • OANDA’s financial offerings have some irregularities that may only suit some traders

  • -Trading on OANDA may incur several fees, including a monthly inactivity fee

  • Withdrawal feeN/A
  • Deposit feeN/A
  • Max Leverage1:50
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AXITrader
Not available in
Country Flag
7
AXITrader
115 customer reviews
Rating
4.5
/ 5
Expand
  • 24/7 instant money withdrawal
  • Free VPS hosting
  • Specialized trading accounts
Pros

  • No obligation demo accounts with US$50,000 of virtual funds to practice with

  • 24/5 Customer support available 

  • Multilingual support in 14 languages

Cons

  • Limited trading platform options

  • Limited trading instruments

  • Only forex and CFD trading

  • Withdrawal feeN/A
  • Deposit feeN/A
  • Max LeverageN/A
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FP Markets
Not available in
Country Flag
8
FP Markets
14 customer reviews
Rating
4.5
/ 5
Expand
  • Free VPS hosting
  • Specialized trading accounts
Pros

  • Excellent customer support with 24/7 availability

  • Competitive spreads and fast execution speeds

  • Comprehensive educational resources including webinars and video tutorials

Cons

  • Limited range of tradable assets compared to some competitors

  • Higher minimum deposit for certain account types

  • No proprietary mobile app (relies on MT4/cTrader mobile)

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:500
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ActivTrades
Not available in
Country Flag
9
ActivTrades
164 customer reviews
Rating
4.5
/ 5
Expand
  • Specialized trading accounts
Pros

  • Solid Regulatory Oversight

  • Fast Execution Speeds

  • Innovative Trading Tools

Cons

  • Limited Asset Range

  • Commissions and Fees

  • Mixed Customer Support Reviews

  • Withdrawal fee0$
  • Deposit fee0$
  • Max Leverage1:400 (1:30 for EU)
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Orbex
Not available in
Country Flag
10
Orbex
23 customer reviews
Rating
4.5
/ 5
Expand
  • Specialized trading accounts
  • 24/7 instant money withdrawal
Pros

  • Strong Regulatory Oversight

  • Several Trading Platforms Offered

  • Several Account Options

Cons

  • Variable Spreads on Starter Account

  • High Minimum Deposits for Premium and Ultimate Accounts

  • Some Users Reported Withdrawal Issues

  • Withdrawal feeN/A
  • Deposit feeN/A
  • Max LeverageN/A
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Our ranking methodology and selection process

Is Forex Trading Legal in Spain?

Yes, forex trading is legal and accessible to both seasoned and new traders in Spain. Brokers with EU-based regulations, other tier 1 regulations, tier 2 or 3 regulations, and offshore regulations, and even unregulated brokers can offer their services to Spanish traders. However, trading with an EU-regulated broker or a broker with CNMV regulation adds multiple layers of security for the traders. Such brokers have limitations on the maximum leverage (1:30) which may not be very tempting but is also less risky on the flip side. It is important to note that profits made on forex trading are taxable by 19 to 26% by the Spanish government. 

What Forex Trading Platforms are Regulated in Spain?

CNMV (Comisión Nacional del Mercado de Valores) is Spain’s financial regulatory body responsible for ensuring a fair and transparent trading environment. Being part of the EU, brokers regulated under EU regulations and MiFID II are compliant with the country’s regulatory body and are deemed more secure options. Brokers like FXPro, XM, Forex.com, FP Markets, and Orbex are examples of some brokers you can consider ones regulated in Spain. To only see regulated brokers here, please use the regulated filter at the top of the listings. 

How to Start Forex Trading in Spain?

Trading is risky and does not always guarantee profits. In fact, most traders lose money on trading instead of making any profits. Therefore, it is important to acquaint yourself with trading in order to lower risks and chances of mistakes. Following are the steps you should take to start forex trading in Spain:

  1. Research is a crucial step. Developing an understanding of trading terminologies, trading strategies, trading conditions, etc., should be your priority before you spend a single euro on trading. You can find helpful resources on our Forex Basics and Forex for Beginners blog categories.
  2. Select a reputed and trustworthy broker like the ones we have listed. 
  3. You can test your strategies on demo accounts. This way, you will not incur any losses during initial learning.
  4. Start trading with small investments and then scale over time.