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Best Forex Brokers in Spain for 2024

Written by Naylyan Nazifova
Naylyan Nazifova is a recognised expert in the online trading field. She has many publications and analysis covering forex trading, stock investing and personal finance. 
, | Updated: December 2, 2024

If you are considering exploring new investment horizons with Forex trading in Spain, then you may be interested in our selection of top-rated Forex brokers. Following an extensive analysis, we have picked out several Spanish Forex trading brokers focused on meeting diverse trading requirements. The team at BestBrokers has tested the companies by opening a live account, depositing real money, and placing real trades, and, fortunately, all of them are available in Spain.

1Fusion Markets
Rating: 4.9 ⭐
74-89% of retail CFD accounts lose money
Top Rated
2Global Prime
Rating: 4.5 ⭐
74-89% of retail CFD accounts lose money
3AvaTrade
Rating: 4.4 ⭐
76% of retail investor accounts lose money
4Libertex
Rating: 4.0 ⭐
74.91% of retail investor accounts lose money
5FXCM
Rating: 3.9 ⭐
70% of retail investor accounts lose money
6Swissquote
Rating: 3.8 ⭐
61% of retail investor accounts lose money
7Saxo Bank
Rating: 3.8 ⭐
65% of retail investor accounts lose money
8Tickmill
Rating: 3.7 ⭐
70% of retail investor accounts lose money
9XTB
Rating: 3.7 ⭐
80% of retail investor accounts lose money
10Iron FX
Rating: N/A ⭐
67.62% of retail investor accounts lose money

Spanish Forex Brokers Ranked by Trustpilot Score

Spanish Forex Brokers Ranked by Spread Commission

Forex BrokerEURUSDUSDJPYEURGBPGBPUSD
1. Tickmill0.10.10.40.3
2. Libertex0.10.30.30.4
3. Fusion Markets0.070.130.231.01
4. Global Prime0.130.280.281.11
5. FXCM0.61.110.8
6. Iron FX0.70.40.90.8
7. Saxo Bank0.91.20.81
8. AvaTrade0.91.31.21.3
9. XTB0.9141.32.2
10. Swissquote1.00.61.21.0

Spanish Forex Brokers Ranked by Commission per Lot

Forex BrokerCommission per lot
1. Iron FX$0
2. FXCM$0
3. Saxo Bank$3 per lot
4. AvaTrade$0
5. XTB$0
6. Libertex$0
7. Fusion Markets$0 Classic Account, $4.50 round turn on Zero Account
8. Tickmill$0 on Classic Account; $3 per side on Raw Account
9. Global Prime$0 Standard Accounts; $7 round turn on Raw Accounts
10. Swissquote
  • $/€0 on Premium and Prime Accounts;
  • $/€2.5 per side per lot for Elite Accounts

Important Note: The Forex market in Spain is under the monitoring of the Comisión Nacional del Mercado de Valores (CNMV), the National Securities Market Commission. The authority has been tasked with overseeing the proper functioning of the financial markets in Spain, including Forex trading. Brokers are obliged to comply with the rules and regulations set forth by the CNMV aimed at ensuring investor protection and the integrity of markets. The website of the CNMV is https://www.cnmv.es/, where traders can find further information. The CNMV supports three accounts on X (formerly Twitter), with the @CNMV_MEDIOS providing information of general interest. The @CNMV_IP is intended for privileged information (IP), and the @CNMV_IFI provides interim financial market information.

This guide further aims to provide updated information on various other aspects of Forex trading in Spain, including the legality of trading in the country, the regulatory body, available traders’ protections, taxes, maximum allowable leverage, and trading platforms, among others.

Top 10 FX Brokers in Spain

  1. TRADE NOW 74-89% of retail CFD accounts lose money

    Fusion Markets Broker Details
    Supports SpanishYes
    Spain Currency (EUR)Yes
    RegulatorsASIC, FSA (Seychelles), VFSC (Vanuatu)
    Min Deposit$0
    Trading PlatformsMetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade, TradingView
    Trustpilot Rating4.9 out of 1,862 reviews
    Number of CFD Forex Pairs to Trade90+
    LeverageForex & Metals CFDs: 1:30 (1:500 for forex and metals via VFSC)
    Index CFDs: 1:5
    Cryptocurrencie CFDs: 1:2 (ASIC), 1:10 (FSA, VFSC)
    SpreadEURUSD: 0.07
    USDJPY: 0.13
    EURGBP: 0.23
    GBPUSD: 1.01
    Forex Commission per Lot per Trade$0 Classic Account, $4.50 round turn on Zero Account
    Deposit MethodsVisa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VNPay, DuitNow, XPay, DragonPay, VAPay, FasaPay, AstroPay, PayID, Jetonbank, Sticpay, Interac, LuqaPay, Zotapay, MiFinity
    Withdrawal MethodsVisa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay

    Key Pros

    • Offers some of the lowest spreads
    • ASIC clients enjoy a negative balance protection
    • Supports popular trading platforms
    • Offers two copy trading platforms
    • Supports fiat and crypto payment solutions

    Key Cons

    • Does not offer investor protection
    • Traders outside Australia have no negative balance protection
    • Cannot set up an account in a minor currency
    • Has no FCA license
  2. TRADE NOW 74-89% of retail CFD accounts lose money

    Global Prime Broker Details
    Supports SpanishNo
    Spain Currency (EUR)Yes
    RegulatorsASIC (No. 385620), VFSC (No. 40256)
    Min Deposit$0
    Trading PlatformsMT4 Desktop, MT4 Webtrader, MT4 Android
    Trustpilot Rating4.5 out of 161 reviews
    Number of CFD Forex Pairs to Trade56
    LeverageForex & Metals CFDs: 1:500 (1:30 for ASIC entity)
    Index CFDs: 1:100 (1:20 for ASIC entity)
    Cryptocurrencie CFDs: Up to 1:2 (ASIC); Up to 1:5 (Pro and VFSC)
    SpreadEURUSD: 0.13
    USDJPY: 0.28
    EURGBP: 0.28
    GBPUSD: 1.11
    Forex Commission per Lot per Trade$0 Standard Accounts; $7 round turn on Raw Accounts
    Deposit MethodsVisa, Mastercard, PayPal, Skrill, Neteller, Gate8, Dragonpay, Fasapay, VNPay, Pagsmile, BPay, POLi, AstroPay, Bank Transfer, Interac, Perfect Money, PayID, Jeton, MiFinity, XPay, Crypto
    Withdrawal Methods

    Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies

    Key Pros

    • Overseen by a top-tier financial regulator (ASIC)
    • No fees on deposits and withdrawals
    • Low fees for FX trading
    • Streamlined sign-up process
    • A broad range of currency pairs

    Key Cons

    • Could use more trading platforms
    • A limited range of educational resources
    • Does not offer Islamic or cent accounts
  3. TRADE NOW 67.62% of retail investor accounts lose money

    Iron FX Broker Details
    Supports SpanishYes
    Spain Currency (EUR)Yes
    RegulatorsFCA (licensing no. 585561), FSCA (licensing no. 45276)
    Min Deposit$100
    Trading PlatformsMetaTrader 4, WebTrader, VPS, PMAM, TradeCopier, Mobile App
    Trustpilot RatingN/A out of N/A reviews
    Number of CFD Forex Pairs to Trade80+
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 0.7
    USDJPY: 0.4
    EURGBP: 0.9
    GBPUSD: 0.8
    Forex Commission per Lot per Trade$0
    Deposit MethodsVisa, Mastercard, Bank Wire, Skrill, Neteller, China Union Pay, Fasapay, Perfect Money, Bitwallet, Paysafecard
    Withdrawal MethodsBank Wire

    Key Pros

    • Offers a wide selection of trading instruments
    • Supports several popular trading platforms
    • Enables easy trading on the go via dedicated app
    • Supports various deposit methods
    • Traders can choose from 7 different account types

    Key Cons

    • Bahamas entity operates with no license
    • Trustpilot score not available due to many fake review detected
    • Withdrawals are possible only via bank wire
  4. 4. FXCM
    TRADE NOW 70% of retail investor accounts lose money

    FXCM Broker Details
    Supports SpanishYes
    Spain Currency (EUR)Yes
    RegulatorsFCA, CySEC, ASIC, FSCA, ISA, IIROC
    Min Deposit$50
    Trading PlatformsMetaTrader 4, TradingView Pro, Trading Station, Capitalise.ai
    Trustpilot Rating3.9 out of 548 reviews
    Number of CFD Forex Pairs to Trade40+
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 0.6
    USDJPY: 1.1
    EURGBP: 1
    GBPUSD: 0.8
    Forex Commission per Lot per Trade$0
    Deposit MethodsVisa, Mastercard, Bank Transfer, Neteller, Skrill, Google Pay, Open Banking, Apple Pay, PayPal, Paysafecard
    Withdrawal MethodsVisa, Mastercard, Bank Transfer, PayPal, Neteller, Skrill

    Key Pros

    • Offers up to 1:1,000 leverage on all new accounts
    • Supports popular trading platforms
    • Does not charge depositing and withdrawal fees
    • Regulated by multiple top-tier regulators
    • Offers competitive spreads

    Key Cons

    • Charges a rather high inactivity fee
    • Offers limited number of products
    • Number of currency pairs is average
  5. TRADE NOW 61% of retail investor accounts lose money

    Swissquote Broker Details
    Supports SpanishYes
    Spain Currency (EUR)Yes
    RegulatorsFCA, MFSA, FINMA, DFSA, MAS, CySEC, FSC, FSCA
    Min Deposit$1,000
    Trading PlatformsCFXD, MetaTrader 4, MetaTrader5
    Trustpilot Rating3.8 out of 2,877 reviews
    Number of CFD Forex Pairs to Trade80+
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 1.0
    USDJPY: 0.6
    EURGBP: 1.2
    GBPUSD: 1.0
    Forex Commission per Lot per Trade
    • $/€0 on Premium and Prime Accounts;
    • $/€2.5 per side per lot for Elite Accounts
    Deposit MethodsVisa, Mastercard, Bank Transfer, Online Banking
    Withdrawal MethodsVisa, Mastercard, Bank Transfer, Online Banking

    Key Pros

    • Publicly traded reputable brand
    • Broker with extensive experience in trading
    • Offers competitively low spreads
    • Supports various trading platforms
    • Forex traders can choose from over 80 currency pairs

    Key Cons

    • Traders must pay an inactivity fee
    • Desktop trading platform looks a bit outdated
    • Trading fees tend to be higher
  6. TRADE NOW 70% of retail investor accounts lose money

    Tickmill Broker Details
    Supports SpanishYes
    Spain Currency (EUR)Yes
    RegulatorsCySEC (No. 278/15), FCA (733772), CONSOB (No.4310), BaFin (No.146511), ACPR (No.75473), CNVM (No.4082), FSA Seychelles (SD 008), FSCA (FSP 49464), DFSA (F007663)
    Min Deposit$100
    Trading PlatformsMT4, MT5, WebTrader, ZuluTrade
    Trustpilot Rating3.7 out of 835 reviews
    Number of CFD Forex Pairs to Trade62
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 0.1
    USDJPY: 0.1
    EURGBP: 0.4
    GBPUSD: 0.3
    Forex Commission per Lot per Trade$0 on Classic Account; $3 per side on Raw Account
    Deposit MethodsBank Transfer, Skrill, Mastercard, Visa, PayPal, Przelewy24, Neteller, Trustly
    Withdrawal MethodsMastercard, Visa, Skrill, Neteller, Przelewy24, PayPal, Bank Transfer

    Key Pros

    • Offers swap-free accounts for Islamic customers
    • No commissions on FX trades via Classic accounts
    • Global presence in over 180 countries
    • FX spreads from zero pips on Raw accounts
    • Swift order execution with no requotes

    Key Cons

    • Could use more base account currencies
    • Bank-transfer deposits below $5,000 incur extra fees
  7. TRADE NOW 65% of retail investor accounts lose money

    Saxo Bank Broker Details
    Supports SpanishNo
    Spain Currency (EUR)Yes
    RegulatorsFCA (No. 551422), FSA Denmark (No. 1149), MAS (No. 200601141M), ASIC (No. 32110128286), SFC Hong Kong (No. 1395901), FSA Japan (No. 0104-01-082810)
    Min Deposit$0 Classic
    $200,000 + Platinum
    $1,000,000 + VIP
    Trading PlatformsSaxoTraderGO, SaxoTraderPRO, TradingView, SaxoInvestor
    Trustpilot Rating3.8 out of 6,484 reviews
    Number of CFD Forex Pairs to Trade185+
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 0.9
    USDJPY: 1.2
    EURGBP: 0.8
    GBPUSD: 1
    Forex Commission per Lot per Trade$3 per lot
    Deposit MethodsVisa, Visa Electron, Mastercard, Maestro, Bank Transfer, Quick Payment
    Withdrawal MethodsBank Transfer

    Key Pros

    • Offers a varied range of major, minor, and exotic FX pairs
    • Provides tier-1 liquidity for high order fill rates
    • Boasts over 30 years of experience in the financial industry
    • Offers more than 140 FX forward contracts
    • Excellent fill rates for FX majors like EUR/USD

    Key Cons

    • Steep minimum deposits for VIP and Platinum accounts
    • Overcrowded and hard-to-navigate website
    • Customizing SaxoTraderPRO for desktop takes some time
  8. TRADE NOW 76% of retail investor accounts lose money

    AvaTrade Broker Details
    Supports SpanishYes
    Spain Currency (EUR)Yes
    RegulatorsFFAJ (License No.1574),CySEC (No. 347/17) ISA (No. 514666577), IIROC, ADGM / FSRA (No.190018), CBI (No.C53877), BVIFSC (No. SIBA/L/13/1049), FSCA(No.45984), ASIC (No.406684), JFSA (No. 1662)
    Min Deposit$100
    Trading PlatformsMetaTrader4, MetaTrader5, WebTrader, AvaTadeGO, AvaSocial, AvaOptions, DupliTrade
    Trustpilot Rating4.4 out of 8,855 reviews
    Number of CFD Forex Pairs to Trade53
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2 for EU residents 1:25 for non-EU residents
    SpreadEURUSD: 0.9
    USDJPY: 1.3
    EURGBP: 1.2
    GBPUSD: 1.3
    Forex Commission per Lot per Trade$0
    Deposit MethodsVisa, Mastercard, Skrill, WebMoney, Neteller, bank wire
    Withdrawal MethodsVisa, Mastercard, Skrill, WebMoney, Neteller, bank wire

    Key Pros

    • Regulated by 9 jurisdictions in 6 continents
    • Offers various trading platforms suitable for beginners and expert traders
    • Enables smooth mobile forex trading via dedicated app
    • Offers 55 forex options and numerous CFDs
    • Easy copy trading via the AvaSocial platform

    Key Cons

    • Retail account pricing trails behind top brokers’ offerings
    • Desktop platform may seem a tad outdated
    • Many payment solutions are country-specific
  9. 9. XTB
    TRADE NOW 80% of retail investor accounts lose money

    XTB Broker Details
    Supports SpanishYes
    Spain Currency (EUR)Yes
    RegulatorsFCA (License No. FRN 522157), CySEC (License No.169/12), FSC (FSC License No.: 000302/438), IFSC (License No.: 000302/46.), KNF (N/A), CNMV (N/A), BaFin (registered), FSCA (N/A), FSA Norway (registration ID - FT00118162)
    Min Deposit$250
    Trading PlatformsxStation 5, xStation Mobile
    Trustpilot Rating3.7 out of 1,311 reviews
    Number of CFD Forex Pairs to Trade70+
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 0.9
    USDJPY: 14
    EURGBP: 1.3
    GBPUSD: 2.2
    Forex Commission per Lot per Trade$0
    Deposit MethodsVisa, Maestro, Mastercard, Bank Transfer, Neteller, Skrill, PayPal, Ecommpay, PayU
    Withdrawal MethodsBank Transfers, Visa, Mastercard, Skrill

    Key Pros

    • Bears the seal of approval of both the FCA and the KNF, along with other regulators
    • Mobile-friendly platform
    • Offers negative balance protection
    • Standard users are not charged commission when it comes to forex
    • Low fees

    Key Cons

    • Traders from the US cannot register and trade at XTB
    • No support for MT5 and other popular platforms
    • Withdrawals under certain thresholds are accompanied by fees
  10. TRADE NOW 74.91% of retail investor accounts lose money

    Libertex Broker Details
    Supports SpanishYes
    Spain Currency (EUR)Yes
    RegulatorsCySEC (CIF Licence number 164/12), BaFin (BaFin ID: 10161686 / Bak No.: 161686)
    Min Deposit$10
    Trading PlatformsLibretex Trading Platform, MT4, MT5
    Trustpilot Rating4.0 out of 9,456 reviews
    Number of CFD Forex Pairs to Trade50+
    LeverageForex & Metals CFDs: 1:30
    Index CFDs: 1:20
    Cryptocurrencie CFDs: 1:2
    SpreadEURUSD: 0.1
    USDJPY: 0.3
    EURGBP: 0.3
    GBPUSD: 0.4
    Forex Commission per Lot per Trade$0
    Deposit MethodsPayPal, Visa, Mastercard, Sofort, iDeal, Trustly, Skrill, Giropay, Sepa International Bank Wire, Multibanco, P24, BLIK, Eps, Neteller
    Withdrawal MethodsSEPA International Bank Wire, PayPal, Visa Mastercard, Skrill, Neteller

    Key Pros

    • Great variety in terms of markets
    • Users have a range of deposit and cashout solutions to pick from
    • Available in English, Spanish, French, Portuguese, and other languages
    • Negative balance protection
    • Traders can contact the customer support staff via live chat

    Key Cons

    • No longer available for UK traders
    • Does not accept traders from the US
    • Somewhat lacking in terms of educational resources

Much like the rest of the world, Forex trading has become very popular in Spain, and being aware of the legalities associated with the activity is of essential importance for novice and experienced traders.

Trading Forex in Spain is a legal activity, under the monitoring of the the National Securities Market Commission (CNMV). To legally provide Forex trading services in Spain, brokers must adhere to a set of specific regulations, including transparent pricing, investor protection, maximum leverage, and segregated client funds, among others.

Investors, on the other hand, can trade a comprehensive combination of currency pairs. Opening a trading account is allowed for individuals aged 18 and above in Spain.

The National Securities Market Commission (CNMV) Regulation Info

As an EU member country, Spain follows local and EU-wide protocols concerning Forex trading. As mentioned above, the national regulatory body in charge of overseeing the Spanish securities markets, including Forex trading, is the National Securities Market Commission. The CNMV was established by Securities Market Law 24/1988. The independent government agency is overseen by the Ministry of Economy and Finance.

CNMV is a reputable financial markets regulator, actively engaged in monitoring companies operating within its jurisdiction and issuing warnings against unlicensed platforms.

The Spanish market, along with all other financial markets within the Eurozone, falls under the regulation of the European Securities and Markets Authority (ESMA). The Paris-based institution was founded on January 1, 2011, to ensure investment protection and maintain financial stability across the markets it covers.

How Can I Verify CNMV Authorization?

Picking a properly regulated broker in Spain for your Forex trading journey is a critical step toward evading scams. The regulatory authority monitoring Forex trading in Spain enables traders to check the legality of brokers before they register their accounts and start trading.

Forex traders residing in Spain can search the CNMV register to verify if a specific broker offers trading services legitimately. They must go to the official webpage of the agency, https://www.cnmv.es/, and navigate to the CNMV company register, where they can look up a specific entity. They must type any word or word phrases that form part of the company’s name and the results will show details such as authorization date and registered address.

Are My Funds Safe with Forex Brokers in Spain?

Thanks to technological advancements and online trading platforms, Forex trading has become widely accessible to retail traders around the globe, including Spain. While trading involves speculating on fluctuations in currency exchange rates and involves risk, traders can do several things to enhance their security.

Besides checking the regulation and licensing of Forex brokers, traders can further test several other aspects of the platforms. They can compare key aspects such as spreads and fees, leverage, trading platforms used, deposit and withdrawal options, and the availability of demo accounts.

Forex brokers regulated by the CNMV offer traders a compensation scheme, securing deposits of up to €20,000 in the event of bankruptcy. Furthermore, customer funds are held in segregated accounts, separate from brokers’ operational funds.

Do Spanish Brokers Provide Negative Balance Protection?

Forex brokers regulated by the CNMV must provide mandatory negative balance protection. This investor protection ensures that traders cannot lose more money than they have already deposited into their trading accounts, i.e. they will not owe money to brokers. Negative balance protection applies to leveraged products, such as CFDs. It covers retail customer accounts, whereas professional accounts are usually not protected.

For instance, let us assume a trader deposits €1,000 to their trading account and enters a CFD trade with a 1:5 leverage. The leverage ensures a market position of €5,000. However, in case of unfavorable market conditions, the position may drop 25%, or, in other words, the trader will suffer a loss of €1,250. In case of negative balance protection, the €250 not covered by the account balance, would not be owed to the broker.

Do You Pay Tax on Forex Trading in Spain?

The current section of the article explains how winnings from Forex trading in Spain are classified and taxed. In the past few years, legislative changes have brought clarity to the matter. Generally, traders are responsible for filing tax forms and are obligated to observe a specific threshold. If they pass it, they must report their profits as capital gains in their annual tax returns.

Profits below the threshold of €6,000 are tax-exempt. Profits above this threshold must be reported as capital gains, with rates varying from 19% to 23%, based on the reported amounts. The first net profits of up to €6,000 are subject to a rate of 19%. Profits from €6,000 to €50,000 are taxed at 21%, and those above €50,000 – at 23%.

Traders must be aware of the opportunity enabling them to carry forward net losses from one year to offset profits in future years and decrease their tax liability. They must not forget to keep detailed records of their transactions and consult a tax advisor, if necessary.

How Does the Available Leverage of Spanish CNMV-Regulated Brokers Compare to the Leverage at Brokers Regulated Offshore?

Leverage in Forex trading allows investors to trade large positions by borrowing funds from brokers. However, leverage is a two-edged sword, as it can also magnify losses.

Trustworthy Forex brokers typically adhere to the maximum allowable leverage specified by the regulatory body in the jurisdiction they operate. The limits can vary from country to country, with some jurisdictions allowing leverage of up to 1:400.

The CNMV complies with the Markets in Financial Instruments Directive, enabling licensed Forex brokers to provide their services in other EU countries. The maximum allowable leverage for retail trader accounts at CNMV-regulated Forex brokers reaches 1:30 for major Forex pairs and 1:20 for others.

What Do You Need to be Designated as a Professional Trader in Spain?

Forex traders have the option to upgrade their experience by applying for professional accounts. However, they must be aware that they can incur losses that exceed their deposits and that the standard protections available to retail traders will no longer be available.

Professional traders can take complete control of their trading, with higher leverage limits, lower margins, exclusive features, cash rebates, and credit facilities. For instance, professional account holders can take advantage of a 1:500 leverage for major and minor Forex pairs, as opposed to retail account holders’ restrictions of a 1:30 leverage for major Forex pairs, and 1:20 for minor Forex pairs. It is important to note that their funds would still be kept in segregated accounts. However, investor protections, such as negative balance protection, would no longer be in place for them.

To qualify as a professional trader, customers must meet eligibility criteria, which Forex brokers specify in detail. Typically, these include a financial instrument portfolio, including cash deposits of more than €500,000. Prior experience in the financial sector is yet another factor that may be beneficial for upgrading to a professional trading account. Once traders apply for a professional account and get approval from the Forex broker, they will be contacted by their relationship manager, notifying them that the account has been upgraded.

What trading platforms are available to Spanish traders?

The most popular platforms available to Spanish traders include MetaTrader4, MetaTrader5, TradingView, and cTrader.


MT4Released in 2005, MetaTrader4 is one of the world’s most popular trading platforms for Forex and CFD traders. It is available for desktop users and mobile devices running on Android and iOS. With an easy-to-navigate interface, the platform offers a broad spectrum of features, such as advanced charting tools, copy trading, automated trading systems, and more. MetaTrader5 was released in 2010, as an alternative to MT4, equipped with more features and options and more suitable for trading in markets beyond Forex.


MT5Founded in 2011, TradingView is a financial market analysis platform and social media network, designed for traders and investors. It offers advanced charting tools, technical indicators, and social networking features allowing traders to make informed decisions across various asset classes.


CTraderCtrader was brought to the online trading scene in 2010, as an all-comprehensive solution for Forex and CFD traders, enabling them to enjoy its great customization features.


Below you can find some useful references with links to organisations that monitor the forex market in Spain.

  1. CNMV (Comisión Nacional del Mercado de Valores): If you wish to visit the website of Spain’s financial regulator, feel free to follow this link.
  2. CNMV Register: By inputting a given company’s details here, you can verify if its CNMV licence is legitimate.
  3. CNMV Complaints Page: Here, CNMV offers details and instructions regarding the process of submitting a complaint.
Written by N. Nazifova