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Forex brokers in Spain

When you are looking for a forex broker in Spain, the first thing you should consider is whether it is regulated by the financial regulator in the country, the Comisión Nacional del Mercado de Valores (CNMV) or the National Securities Market Commission. The Commission, was formed back in 1988, which makes is one of the oldest financial agencies in the world. It is in charge of financial regulation of securities markets in Spain, including forex brokers. 

 
Of course, as Spain is a member of the European Union, you can also choose a forex broker regulated in any Member State, as the EU passporting rules apply. The regulations of the Markets in Financial Instruments Directive (MiFID) also apply to all EU Member States, setting certain requirements to forex brokers, such as for minimum capital, segregation of client accounts, provision of investor compensation scheme, etc.
 
Like most EU financial regulators, the CNMV maintains a register of brokers licensed in Spain, so anyone can check whether a certain company is authorized to provide financial services in the country. The CNMV also has a number of powers and obligations with regards to forex brokers in Spain. It is in charge of the licensing process, overseeing the operations of brokers regulated by it, responding to inquiries by traders and investigating disputes, imposing penalties to brokers who are violating the laws, among other things. 
 
Overall, the CNMV strives to protect investors and ensure all participants in the financial sector act according to the laws applicable in the country. Besides, the Spanish financial watchdog regularly issues warnings against forex and binary options brokers that are not authorized to operate in the country.
 
In March 2017, the CNMV issued a circular introducing a set of new rules applying to forex and binary options brokers in Spain regarding trading costs and risks disclosure, leverage and advertising requirements. Overall, the commission requires that brokerages warn investors of the risks involves in trading in forex, contracts for difference (CFDs) and other speculative products and make sure traders understand the complexity of such products (margin trading, trading costs, etc.). In addition, brokers are also required to evaluate every client’s suitability for trading such instruments.
 
Below, you can find a list of forex brokers, legally offering their services in Spain:
 

Forex brokers in Spain

Broker Country Platforms Min.deposit Review
Cyprus MT4, MT5, Web $5 Review Website
UK, Cyprus, Hong Kong MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia MT4, MT5 $5 Review Website
UK, Australia MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus, UAE, South Africa MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus MT4 $1000 Review
Cyprus MT4, Currenex $100 Review
Spain iBroker Web €100 Review

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