Best forex brokers in Spain

• 29 forex brokers with a verified licence serve residents of Spain: 29 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 29 forex brokers on this list, 21 serve Spain from a CySEC licence in Cyprus (FxPro, FOREX.com, Capital.com and 18 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 4 that publish the regulator-required loss figure report that 55% (Swissquote) 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. Retail forex is offered as CFDs; the CNMV limits 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 CMC Markets (70) follow. The score rates the company that would serve you in Spain, so the same brand can rank differently in another country.

Yes. The CNMV counts rolling spot forex, which is what most of these brokers sell, as a CFD, so Spain's own CFD measures cover forex accounts as well.

Since 2023 those measures have banned free or token-price courses, seminars and demo accounts offered to the general public in Spain when they encourage trading. Training is only allowed for clients who already have the knowledge and experience. Rewards for referring new retail clients are banned too.

Source: cnmv.es

No. Under the CNMV's 2023 resolution, CFD providers, including those offering rolling spot forex, can't accept deposits made by credit card from clients in Spain.

20 of the 29 brokers here (IG, FxPro, CMC Markets and 17 more) list credit cards on their general deposit pages. From Spain, use a debit card or a bank transfer instead.

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 29 on this list reach Spain that way, most from Cyprus (21), 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 (21 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