Top Forex Brokers in Spain — 2024
Join us as we tour the features and strengths of the best forex brokers for Spanish traders:
1. XTB
XTB, founded in 2002, made the list of the top forex brokers in the world and based in Poland, presents a wide range of trading instruments covering forex, stocks, indices, commodities, and cryptocurrencies.
Features
- Regulated by FCA UK, CNMV Spain, KNF Poland, FSC Mauritius, and CySEC.
- Accessible in 15 languages.
- Offers trading across diverse instruments.
- No minimum deposit requirement.
- Provides both Market Maker and STP services.
- Trading Platforms: MT4 and xStation 5 platforms.
- Various deposit and withdrawal options available.
Pros
- Regulation by multiple reputable regulatory bodies.
- Competitive pricing.
- Personal account manager dedicated to each client.
- Negative balance protection available in EU/UK regions.
- Advanced and reliable trading platform.
- Extensive research tools and resources.
Cons
- Withdrawals exclusively processed through bank transfers.
- Limited selection of trading platforms available for clients.
XTB stands out as an appealing choice for traders at all skill levels, providing innovative features like the heatmap, scanners, and traders statistics tool within the xStation 5 platform. By joining XTB, traders embrace low fees and tight spreads, setting the stage for trading success across various markets.
Risk Disclaimer: 81% of retail CFD accounts lose money when trading on this platform.
2. IG
Founded in 1974 in London, IG is a pioneer in the forex and CFD sector, setting the bar for excellence in the industry. Regulated by esteemed authorities like FCA, FINMA, BaFin, and ASIC, IG prioritizes robust client protection measures.
IG introduces an innovative proprietary trading platform alongside MetaTrader 4, catering to diverse trading needs.
The broker distinguishes itself with competitive fee structures and an extensive array of tradable instruments, including CFDs on spot markets, futures, and options.
Features
- Regulations: FCA (United Kingdom), BaFin (Germany), ASIC (Australia), NFA (United States), FINMA (Switzerland), MAS (Singapore), DFSA (United Arab Emirates), FSCA (South Africa), JFSA (Japan)
- Supported Languages: English, Chinese, Spanish, Arabic, Japanese, Portuguese, German, French, Italian, Dutch, Norwegian, Swedish
- Products: Currencies, Stocks, Crypto, Bonds, Indices, Commodities
- Min Deposit: $250
- Max Leverage: 1:30 (FCA), 1:30 (BaFin), 1:30 (ASIC), 1:50 (NFA), 1:100 (FINMA), 1:20 (MAS), 1:30 (DFSA), 1:30 (FSCA), 1:30 (JFSA)
- Trading Desk Type: Market Maker
- Trading Platforms: Proprietary, MT4, ProRealTime, L2 Dealer
- Deposit Options: Wire Transfer, Debit Card, Credit Card, PayPal, Visa, Mastercard
- Withdrawal Options: Wire Transfer, Debit Card, Credit Card
Pros
- Established reputation for trustworthiness
- 47 years of industry expertise
- Competitive FX spreads starting from 0.6 pips
- Swift and reliable trade execution
- Feature-rich trading platform
- Advanced trade analytics tools
- Industry-leading research resources
- Access to Direct Market Access (DMA)
- Availability of VPS hosting
- Exceptional educational materials
Cons
- Inactivity fee applicable
- Support availability not 24/7
- Islamic account option exclusively accessible through the Dubai entity
For traders seeking a reputable broker committed to their trading journey, IG is a top choice. With an unmatched trust rating in the CFD industry and competitive fees, they provide a suite of innovative tools to empower traders in the markets. Coupled with top-tier education, research, and customer support, IG enhances the trading experience significantly.
Risk Disclaimer: 69% of retail CFD accounts lose money while trading with this provider.
3. Markets.com
Established in 2009, Markets.com emerges as a versatile online CFD broker offering an extensive array of assets, including forex pairs, commodities, indices, cryptocurrencies, stocks, ETFs, and bonds.
Features
- Regulated by multiple authorities, including FSC Mauritius, FSCA South Africa, CySEC Cyprus, ASIC Australia, and FCA UK.
- Supported Languages: English, French, Arabic, Bulgarian, Italian, Spanish, German.
- Product offerings encompass currencies, stocks, ETFs, crypto, bonds, indices, commodities, and futures.
- Minimum Deposit: $100.
- Maximum Leverage: Varies by regulatory jurisdiction.
- Trading Desk Type: Market Maker, STP.
- Trading Platforms: MT5, Proprietary, MT4.
- Deposit and withdrawal options include Wire Transfer, Skrill, Neteller, Credit Card.
Pros
- Governed by three Tier-1 regulatory bodies.
- Rich research and educational resources.
- User-friendly proprietary trading platform.
- Tailored privileges for seasoned traders with larger deposits.
Cons
- Trading costs exceed standard industry rates.
Register on Markets.com to explore trading opportunities across various markets, with the platform standing out for its extensive selection of instruments. However, the broker’s overall fees surpass the industry average.
Risk Disclaimer: 71.1% of retail CFD accounts lose money while trading on this platform
4. FXTM
Founded in 2011, FXTM emerges as a globally recognized forex and CFD broker, headquartered in Limassol, Cyprus. Facilitating forex and CFD trading on commodities and indices via the MetaTrader platform and the FXTM Trader App, FXTM ensures regulatory compliance across multiple jurisdictions, safeguarding client funds in top-tier banks.
Boasting a presence across Europe, Africa, Asia, and Latin America, FXTM proudly serves 4 million clients from 180 countries.
Features
- Regulations: CySEC (Cyprus), FSCA (South Africa), FSCM (Mauritius), FCA (United Kingdom)
- Supported Languages: Over 20 languages including English, French, Arabic, Chinese, and more.
- Products: Currencies, Stocks, Indices, Commodities Minimum Deposit: Varies
- Maximum Leverage: CySEC: 1:30, FSCA: 1:500, FSCM: 1:3000, FCA: 1:30
- Trading Desk Type: No dealing desk, ECN,
- Market Maker Trading Platforms: MT5, MT4, Web Platform, Mobile Platform
- Deposit Options: Local Deposit, Maestro, Wire Transfer, Skrill, Neteller, Credit Card, Visa, Mastercard, GooglePay, PayRedeem
- Withdrawal Options: Wire Transfer, Neteller, Skrill, Credit Card, PerfectMoney, Maestro, Visa, Mastercard, PayRedeem, GlobePay.
Pros
- Regulated by FCA and CySEC.
- Comprehensive educational resources.
- Variety of account options.
- Dedicated account representative.
- VPS hosting services offered.
Cons
- Withdrawal charges.
- Account inactivity fees.
- Limited range of tradable assets.
At FXTM, traders will find a straightforward range of tradable instruments and platforms, complemented by exceptional educational resources and customer service. With diverse account types catering to traders of all levels, FXTM stands out as one of the top forex brokers in South Africa.
Risk Disclaimer: 81% of retail investor accounts lose money when trading Online Forex/CFDs with this provider.
5. CMC Markets
Established in 1989 in the UK, CMC Markets is one of the top forex brokers in the world in 2024 and a leading broker in CFD and Spread Betting services, operating under the oversight of various regulatory bodies worldwide.
Features
- Regulated by multiple authorities including BaFin Germany, ASIC Australia, MAS Singapore, IIROC Canada, DFSA UAE, FMA New Zealand, and FCA UK.
- Supported Languages: Multiple languages available.
- Products: Currencies, Stocks, ETFs, Bonds, Indices, Commodities.
- Minimum Deposit: $0.
- Maximum Leverage: Varies by regulatory jurisdiction.
- Trading Desk Type: Dealing Desk, Market Maker.
- Trading Platforms: CMC Mobile App, CMC Web Platform, MT4.
- Deposit and withdrawal options include PayPal, Wire Transfer, and Credit Card.
Pros
- Registrations with several leading regulatory bodies worldwide.
- Competitive spreads and fees.
- An exceptional variety of tradable instruments.
- Robust research resources for clients.
- Excellent customer service support.
- State-of-the-art trading platform.
Cons
- A monthly inactivity fee applies.
- The education section lacks courses.
- The Islamic Account option is unavailable.
CMC Markets boasts robust education and research resources, with reliable customer service, albeit not always the quickest.
These qualities position it as a top choice suitable for traders of all levels, from beginners to advanced.
Risk Disclaimer: 67% of retail CFD accounts lose money while trading on this platform.
6. Vantage
Established in 2009 and headquartered in Australia, Vantage is a forex and CFD broker regulated by ASIC and FSCA in South Africa, offering access to over 940 instruments across various asset classes.
Features
- Regulated by FSCA South Africa, CIMA Cayman Islands, ASIC Australia, and VFSC Vanuatu.
- Supported Languages: English, French, Arabic, Italian, Spanish, Chinese, Greek, Malaysian.
- Products: Currencies, Stocks, ETFs, Crypto, Indices, Commodities, Futures.
- Minimum Deposit: $50.
- Maximum Leverage: Varies by regulatory jurisdiction.
- Trading Desk Type: ECN, No dealing desk.
- Trading Platforms: MT4, MT5, ProTrader.
- Deposit and withdrawal options include a wide range of methods.
Pros
- A variety of platforms are available.
- Comprehensive educational materials.
- Raw spreads are offered across various markets.
- Advanced ProTrader features.
Cons
- Delayed order execution times.
- Slightly higher swap fees.
- Compensation scheme limited to one entity.
To register on Vantage offers traders chances to check out its competitive pricing and a range of lower-risk securities, making it appealing for day traders and position traders. However, its execution speeds may not be suitable for high-frequency strategies like scalping.
Risk Disclaimer: 74-89% of retail investor accounts lose money when trading CFDs on this platform.
7. Avatrade
Avatrade, founded in 2006 in Ireland, stands as a prominent forex and CFD broker with a robust regulatory framework and an extensive offering of over 840 CFDs and vanilla options.
Features
- Regulated by FSCA South Africa, CBI Ireland, ASIC Australia, and FSA Japan.
- Available in multiple languages.
- Offers trading across various instruments.
- Maximum Leverage Up to 1:30 for most regions.
- Provides both Market Maker and Dealing Desk services.
- Trading Platforms: AvaTradeGo, AvaOptions, AvaSocial, MT5, Proprietary, MT4, WebTrader, and DupliTrade.
- Multiple deposit and withdrawal options are available.
Pros
- Holds various Tier-1 regulatory approvals.
- Risk mitigation tools available.
- A diverse selection of trading platforms.
- Trading opportunities in CFDs and Vanilla options.
- Competitive pricing.
Cons
- High inactivity charge.
- Single account option.
Ranked as one of the top Forex brokers globally in 2024, Avatrade emerges as an appealing choice for technical traders across all proficiency levels.
Traders can register on Avatrade and enjoy its market-making function, particularly suitable for high-frequency trading, which is further enhanced by its advantageous low swaps, making it particularly advantageous for day trading and position trading.
Risk Disclaimer: 76% of retail investor accounts lose money while trading with this provider.
8. XM
Founded in 2009, XM Group, widely recognized as “XM,” specializes in forex and CFD trading across diverse asset classes, operating through four entities worldwide.
Features
- Regulated by FSC Belize, ASIC Australia, DFSA UAE, and CySEC Cyprus.
- Supported Languages: Multiple languages available.
- Products: Currencies, Stocks, Indices, Commodities.
- Minimum Deposit: $5.
- Maximum Leverage: Varies by regulatory jurisdiction.
- Trading Desk Type: No dealing desk.
- Trading Platforms: MT4, MT5.
- Deposit and withdrawal options include various methods.
Pros
- Low minimum required deposit.
- No fees for deposits and withdrawals.
- Customer support is available in over 28 languages.
- Robust educational and research resources.
- Access to both MT4 and MT5 platforms.
Cons
- Investors outside the EU lack access to investor compensation schemes.
XM offers low spreads on various instruments and provides robust educational assistance, particularly valuable for novice traders.
To register on XM as a trader means taking advantage of the benefits of its minimal deposit requirement and diverse range of assets, which made it an appealing choice for traders of all levels.
Risk Disclaimer: 72.82% of retail investor accounts lose money while trading on this platform.
9. FP markets
FP Markets, established in 2005, is a globally diversified broker operating under multiple regulations. It provides trading opportunities in CFDs encompassing forex, shares, indices, commodities, and cryptocurrencies through platforms such as MetaTrader 4 & 5, cTrader, Iress, Mottai, and TradingView.
With competitive fees, swift execution, and a broad spectrum of instruments, FP Markets caters to the demands of seasoned traders. These advantages are further enhanced by advanced functionalities like automated trading and Direct Market Access, alongside acclaimed research resources from Trading Central and Autochartist.
Features
- Regulatory Oversight: ASIC (Australia), FSCA (South Africa), CySEC (Cyprus)
- Supported Languages: English, Russian, French, Indonesian, Dutch, Portuguese, Thai, Polish, Arabic, Hungarian, Bulgarian, Italian, Spanish, Chinese, Japanese, Greek, Vietnamese, German, Korean, and Malaysian, among others.
- Products: Currencies, ETFs, Crypto, Bonds, Indices, Commodities
- Minimum Deposit: $100
- Maximum Leverage: 1:30 (ASIC), 1:500 (FSCA), 1:30 (CySEC)
- Trading Desk Type: No dealing desk
- Trading Platforms: MT5, cTrader, IRESS, MT4, Mottai
- Deposit Options: PayPal, Wire Transfer, Skrill, Neteller, Credit Card, Bpay, Broker to Broker, Debit Card, PayID
- Withdrawal Options: Wire Transfer, Neteller, Skrill, PayPal
Pros
- Competitive spreads are offered.
- An extensive range of instruments is available.
- Personal Account Managers are provided.
- Enjoy round-the-clock multi-lingual support.
- Access copy trading functionality.
- Utilize Autochartist and Trading Central.
- VPS Hosting is available.
- Explore partnership programs.
- Access a comprehensive educational section.
Cons
- Note that the offshore entity lacks regulation.
- The absence of a proprietary platform should be noted.
With two decades of experience in the CFD industry, FP Markets has established itself as a go-to choice for seasoned traders seeking top-notch resources and optimal trading conditions.
This Australian brokerage offers competitive spreads, swift order execution, advanced platforms, and minimal fees, all while maintaining excellent customer support and providing comprehensive research materials.
After a thorough evaluation, FP Markets emerged as an outstanding broker, delivering a comprehensive service that excels in nearly every aspect of our review.
Risk Disclaimer: 74-89% of retail CFD accounts lose money while trading on this platform.
10. Saxo Bank
Saxo emerges as a significant player in Europe’s financial sector, hailing from Denmark. With regulation spanning 15 jurisdictions and a client base exceeding 850,000, Saxo’s impact reverberates globally, with over 600 banks and brokers leveraging its technology.
Backed by licenses from multiple top-tier regulators, a professional-grade platform, and an extensive offering of over 40,000 instruments, Saxo solidifies its position as a powerhouse in the industry.
Features
- Regulators: FSA UK (United Kingdom), MAS (Singapore), FINMA (Switzerland), CONSOB (Italy), JFSA (Japan), SFC (Hong Kong), ASIC (Australia), AFM (Netherlands), FCA (United Kingdom)
- Supported Languages: Hebrew, English, Danish, Russian, French, Dutch, Portuguese, Polish, Czech, Arabic, Hungarian, Italian, Spanish, Chinese, Japanese, Greek, German
- Products: Options, Currencies, Stocks, ETFs, Mutual Funds, Crypto, Bonds, Indices, Commodities, Futures
- Minimum Deposit: $2000
- Maximum Leverage: 1:30 (FSA UK), 1:20 (MAS), 1:100 (FINMA), 1:30 (CONSOB), 1:25 (JFSA), 1:20 (SFC), 1:30 (ASIC), 1:50 (AFM), 1:30 (FCA)
- Trading Desk Type: Dealing Desk, Market Maker, STP
- Trading Platforms: SaxoTrader
- Deposit Options: Wire Transfer, Credit Card, Debit Card
- Withdrawal Options: Wire Transfers
Pros
- Comprehensive security measures
- Over 40,000 available instruments
- Flexible trading platforms
- A wide array of supplementary resources
Cons
- Elevated trading costs
- Significant minimum deposit prerequisite
Saxo primarily operates as a bank offering brokerage solutions to traders and investors across Europe and beyond. Renowned for its professional-grade services, it stands as a prominent entity in the financial sector. With stringent licensing and regulations, Saxo earns a reputation for reliability. Additionally, it grants access to a vast array of over 45,000 instruments spanning various markets.
Risk Disclaimer: 72% of retail investor accounts lose money while trading with this provider.
The top 10 Forex brokers in Spain present a diverse array of options for traders seeking reliable platforms, competitive pricing, and extensive market access.
From established names like Exness and XTB to industry giants like IG and Saxo Bank, each top forex broker in Spain offers unique advantages tailored to different trading styles and preferences.
By choosing one of the top forex brokers in Spain that aligns with your trading objectives, you can embark on your forex journey with confidence and maximize your trading potential in the Spanish market.
