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.
Pros, cons & fees
Extensive Range of Tradable Assets: CapPlace offers around 300 tradable assets ranging from forex, cryptocurrencies, stocks, commodities, indices, and ETFs.
Tiered Accounts for All Traders: You get the option to choose from 3 live trading accounts (Silver, Gold, and Platinum) and a demo account.
Mobile App and WebTrader: Trade with the browser-based WebTrader or trade from the company’s app on Android and iOS devices.
No Swap-Free or Islamic Accounts: Swap-free or Islamic Accounts are not available on CapPlace. All the accounts charge swap fees for overnight held positions.
Offshore Regulation: CapPlace is regulated by MISA in the Union of Comoros. MISA is not a tier-1 regulator.
No MT4 or MT5 Options: CapPlace does not offer MetaTrader4 and MetaTrader5 trading platforms.
Pros, cons & fees
Extensive range of tradable instruments: With over 160 CFD instruments available, including stocks, forex, indices, commodities, metals, and cryptocurrencies, traders have ample options to diversify their investment portfolio.
Commission-free trading: There are no commissions on standard trades as the broker earns from spreads, which are also very competitive (starting ~0.9 pips). This transparent fee model means lower and straightforward costs for traders.
24/7 Multilingual Customer Support: Customer support is accessible 24/7 in four languages to help traders access support in their preferred language.
Offshore Regulation: Savexa is regulated in Mwali (Comoros) instead of a tier-1 regulatory jurisdiction. The broker is offshore regulated which means the investors do not get the tier-1 investor protection features.
Lack of MetaTrader Platforms: Savexa does not offer the popular MetaTrader 4 or 5. Many seasoned brokers prefer using MetaTrader for their trades instead of WebTrader.
Limited Advanced Strategies: The broker does not allow advanced strategies like scalping and arbitrage trading. Lack of MetaTrader further means copy trading and auto trading are absent as well.
zForexBonus20% deposit bonus
1:1000 Max LeverageMin deposit $10Max leverage 1:1000Regulated by MISAAdd to compare list4.1 / 5Start tradingPros, cons & fees
High Leverage: zForex offers an extremely high leverage of 1:1000, giving traders much larger positions against small investments.
Low Minimum Deposit Fee: The broker offers a very low barrier to entry with just $10 in minimum deposits to start trading. Usually, brokers have a minimum deposit of $100+.
Swap-Free/Islamic Account Option: Swap-free trading account allows interest-free trading which is a great addition for Muslim traders.
No Top-tier Regulations: zForex is regulated in Mwali (by MISA), and lacks the strong oversight of top-tier regulators. The investor protection features are therefore comparatively limited.
High Deposit for Islamic/Swap-free Account: The minimum deposit for Islamic accounts is on a much higher end compared to standard trading accounts.
New Brokerage: zForex is a relatively new brokerage that started its operations in 2022. This could be a concern for traders who prefer trading with established brokerage firms.
ZitaPlusBonus20% deposit bonus1:1000 Max LeverageMin deposit $250Max leverage 1:1000Regulated by FSC (BVI)Add to compare list4.1 / 5Start tradingPros, cons & fees
B2B Broker: ZitaPlus also operates as a B2B broker, providing liquidity to other forex and CFD brokers.
Customized Services and Hedging: Customized services and excellent hedging conditions for high-volume traders. Hedging operational risks for institutional clients, including physical gold and oil merchants and companies worldwide.
Islamic/Swap-Free Account: Swap-Free accounts on ZitaPlus help Muslim traders trade while ensuring they are following their religious guidelines by not charging interest for holding positions overnight.
Offshore Regulation: Registered under the British Virgin Islands (BVI) Financial Services Commission (FSC), which does not offer top-tier investor protections unlike top-tier brokers.
Limited Track Record: A relatively new broker with limited historical performance and client feedback.
Limited Availability: ZitaPlus does not serve in many countries like the US, Japan, Turkey, Belarus, etc. Please check the availability status of the broker in your country.
BullwavesBonus100% deposit bonus1:500 Max LeverageMin deposit $100Max leverage 1:500Regulated by FSA (SV)Add to compare list4.1 / 5Start tradingPros, cons & fees
Diverse Account Types: Bullwaves caters to both beginner and advanced traders with a range of account options.
High Leverage: Maximum leverage up to 1:500, allowing traders to control larger positions.
24/7 Multi-Channel Support: Available in multiple languages via live chat, email, and phone.
Not Regulated by Top-Tier Authorities: Lacks regulation from top-tier bodies like ASIC or FCA.
Limited Platform Options: Currently offers only MT5 instead MT4 or cTrader.
High Minimum Deposit: A $100 deposit requirement may deter small retail traders.
SwissquoteBonus€100 cashbackBest Secure BrokerRegulated by FINMAAdd to compare list3.9 / 5Start tradingPros, cons & fees
Regulated and licensed by multiple financial authorities
Offers a wide range of assets for trading
Provides advanced trading tools and platforms
Does not accept clients from some countries, including the United States
Has high minimum deposit requirements
Has limited leverage compared to some other brokers
TickmillBonusWelcome Account by TickmillBest For High Balance TradersRegulated by FCA, FSAAdd to compare list3.9 / 5Start tradingPros, cons & fees
Regulated by multiple authorities, including FCA and CySEC
Low minimum deposit requirement
Offers a wide range of trading instruments, including cryptocurrencies
No social trading platform or copy trading feature
No fixed spreads are available
Limited options for account funding and withdrawal
HotForexBonusRefer a Friend Program by HotForexBest For Biggest Offering of CFDsRegulated by CySEC, FIUAdd to compare list3.9 / 5Start tradingPros, cons & fees
Multiple regulatory bodies regulate it.
Low spreads starting from 0.1 pips.
High leverage of up to 1: 1000 for professional clients.
Does not accept clients from the USA, Canada, Sudan, Syria, and North Korea.
Hot Forex's trading fees are slightly higher than average industry rates.
HFcopy requires a minimum investment of 300 EUR, often considered steep.
xChief (ex. ForexChief)BonusNo-Deposit Bonus by xChiefBest For Contract TradingRegulated by VFSC, ASIC, MISAAdd to compare list3.9 / 5Start tradingPros, cons & fees
Low minimum deposit requirement of $10 across all account types.
Beneficial trading terms such as low trade volume, starting at 0.01 lots, and tight spreads, starting from 0 pips.
Availability of multiple payment methods for deposits and withdrawals without any fees from the Broker's end.
Non-compliance with ESMA leverage capping may not be suitable for traders looking for low-risk options.
Unclear compensation levels in case of any mishap, with each case being reviewed separately.
Trading.comBonus$100 no-deposit bonus0-Pip EUR/USD SpreadsMin deposit $5Max leverage 1:30Regulated by FCA, CFTC, NFAAdd to compare list3.9 / 5Start tradingPros, cons & fees
Trading.com stands out for its competitive spreads, allowing traders to access markets at favorable pricing.
The platform offers user-friendly trading platforms, notably the MetaTrader 5 terminal, facilitating a smooth trading experience.
Traders can access a decent array of tradable instruments, including Forex, stocks, commodities, indices, metals, and energies.
Trading.com's trading platform options are limited, offering only the MetaTrader 5 (MT5) platform for traders.
The platform's educational resources are relatively limited, potentially leaving traders seeking more comprehensive learning materials.
Trading.com is exclusively available to clients within the United Kingdom, limiting its accessibility to a global audience.
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:
- 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.
- Select a reputed and trustworthy broker like the ones we have listed.
- You can test your strategies on demo accounts. This way, you will not incur any losses during initial learning.
- Start trading with small investments and then scale over time.