Best CFD brokers in Spain

• 31 CFD brokers with a verified licence serve residents of Spain: 31 serve under an EU passport.
• Top pick by Coinish Score: IG (78/100, Editor Rating 4.2/5).
• Lowest advertised EUR/USD all-in cost: 0.1 pips (Deriv), across 16 brokers that publish one.
• No minimum deposit: Deriv.

Ranked by Coinish Score: half the Editor Rating for the entity that serves residents of Spain, half Market Signal. Brokers without enough verified data for a rating are placed by Market Signal and labelled; brokers with neither are listed last. How we rate

Of the 31 CFD brokers on this list, 23 serve Spain from a CySEC licence in Cyprus (FxPro, eToro, FOREX.com and 20 more), 2 serve Spain from a BaFin licence in Germany (IG and CMC Markets), 2 serve Spain from a CBI licence in Ireland (Interactive Brokers and AvaTrade) and 1 serves Spain from a KNF licence in Poland (XTB); 3 more are licensed by Bank of Latvia, MFSA and CMVM.

ESMA's product intervention measures cap retail CFD leverage at 30:1 on major currency pairs, down to 2:1 on cryptocurrencies. In Spain, CNMV applies them through its own product-intervention rules. The 5 that publish the regulator-required loss figure report that 51% (eToro) to 75% (XM) of retail CFD accounts lose money; the median is 73%.

Advertised all-in EUR/USD costs on this list run from 0.1 pips (Deriv) to 1.5 pips (Orbex) across the 16 that publish one.

• Search the company name on the CNMV register (cnmv.es); for a firm licensed elsewhere, on its home regulator's register too (CySEC, BaFin and CBI for most of this list).
• Check which company your contract is with. IG, for example, onboards residents of Spain through IG Europe GmbH (BaFin licence 148759), and the name on the account-opening documents should match the list.
• Look for the percentage-of-accounts-that-lose-money warning on the broker's site. A firm marketing CFDs to residents of Spain without it is probably not using its regulated entity.

Yes, with a licensed provider. Brokers need MiFID II authorisation from an EEA regulator; firms authorised elsewhere in the EEA may serve residents under the European passport. The CNMV limits CFD leverage and restricts CFD marketing to retail investors in Spain, whatever the firm's home country.

Sources: cnmv.es, cnmv.es

By Coinish Score, IG (78/100, Editor Rating 4.2/5), through IG Europe GmbH (BaFin licence 148759). FxPro (72) and eToro (72) follow. The score rates the company that would serve you in Spain, so the same brand can rank differently in another country.

Spain goes further than the EU-wide CFD rules. Since 2023 the CNMV has banned CFD advertising aimed at retail investors in Spain, as well as sponsorship and brand advertising that promotes CFDs, including campaigns using public figures.

The ban applies to every firm selling CFDs to Spanish retail clients, whatever its home country and whether or not it has a branch in Spain, so it covers all 31 brokers here. Firms also can't call you from a call centre to sell CFDs, or pay their sales networks according to sign-ups, deposits or client losses. A cold call pushing CFDs breaks Spanish rules.

Source: cnmv.es

Yes. The CNMV applies the CFD leverage limits, and the close-out at half the initial margin, to other leveraged products sold to retail clients in Spain, such as futures and options. On exchange-traded products the required margin is the lower of the exchange's and the CNMV's. The exception is products whose underlying is a crypto-asset outside MiFID, where the CNMV's margin is the minimum.

Source: cnmv.es

Yes. A firm authorised under MiFID II in one EEA country can serve residents of the others once its home regulator has notified them. All 31 on this list reach Spain that way, most from Cyprus (23), Germany (2) and Ireland (2).

The home regulator supervises the firm and its compensation scheme applies, while CNMV can still set conduct rules for clients in Spain.

Source: bafin.de

If a broker fails, the compensation scheme of the regulator that licenses it applies, not one chosen by where you live. For this list: Investor Compensation Fund (Cyprus): 90% of covered claims, up to €20,000 for clients of CySEC-licensed investment firms (23 on this list); Entschädigungseinrichtung der Wertpapierhandelsunternehmen (EdW): 90% of the claim, up to €20,000 per investor for clients of BaFin-licensed investment firms (2 on this list); Investor Compensation Company (ICCL): 90% of the loss, up to €20,000 per investor for clients of CBI-licensed investment firms (2 on this list); KDPW investor compensation scheme (Poland): 100% up to €3,000 and 90% above that, at most €20,100 per investor for clients of KNF-licensed investment firms (1 on this list). Compensation covers missing client money and assets after a firm's failure, never trading losses.

Sources: cysec.gov.cy, e-d-w.de, investorcompensation.ie, kdpw.pl