Risk Warning: Your capital is at risk. Statistically, 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

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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81Solus FinanceBonusRefer a Friend & Earn with SolusFinance24/7 Trading CompetitionsRegulated by NoAdd to compare listRating 4.1 / 5Start trading
Pros, cons & fees
24/7 Trading CompetitionsRead review
Pros

  • Gamified Trading: Solus gamifies the complex trading experience which is great for new traders with limited complex trading knowledge.

  • Proprietary Mobile App (Android): The company has a proprietary mobile trading app available on PlayStore.

  • Multiple Online Payment Options: Traders (or players) can fund their accounts via Crypto, PayPal, Volet, and Cryptic.

Cons

  • Unclear Regulatory Framework: ITU Financial Services Inc. is registered in Delaware, US but not as a financial services provider. According to the company, they do not identify as a brokerage and therefore do not need to be regulated.

  • No Visa or Mastercard Payment Options: The company does not accept Visa or Mastercard payment options.

  • No iOS App: Solus lacks an iOS mobile app. Currently, the app is only available for Android devices and all mobile devices through mobile web.

Our ranking methodology and selection process

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.