Forex Brokers in Spain

Richard Montana | November 23, 2022

Spanish residents can trade forex and CFD financial instruments. They can speculate on falling and rising currency pair prices or other assets without needing to physical own the underlying asset class. This has made CFD trading popular in Spain over recent years with the Comisión Nacional del Mercado de Valores (CNMV) regulating forex brokers in Spain. However, residents of Spain do not necessarily need to use a CNMV regulated broker as there are plenty of international forex brokers who are regulated in other jurisdictions that also accept clients from Spain.

Best forex brokers Spain

To find the best forex brokers in Spain, we created a list of all the regulated forex brokers that accept traders in Spain, then ranked them based on our overall rating. You can see our list of our top forex brokers for Spain below.

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.

ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA

$100

2006

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
2.

ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA

$250

1974

1:200

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
3.

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

$200

2010

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
4.

ASIC, CySEC, FSA, SCB

$200

2007

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
5.

CySEC, DFSA, FCA, FSCA, IFSC

$1

2004

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

CNMV forex brokers in Spain

The Comisión Nacional del Mercado de Valores or National Securities Market Commission (CNMV) was founded in 1988 and is the Spanish government agency responsible for the financial regulation of the securities markets in Spain. It is an independent agency that falls under the Ministry of Economy.

CNMV is a highly reputed and reliable financial regulatory agency that comes directly under the MiFID derivative designed for all EU member nations to create a uniform regulatory structure throughout the European Union.

The Commission has played a crucial role in the Spanish stock market by introducing stronger measures for the protection of investors. The main role of the CNMV is to secure a transparent and fair financial market which grants stability, consumer protection, and instruct intermediaries and brokers to behave correctly.

One of its duties includes assisting the EU Commission in evaluating financial sectors of EU candidate countries. Since Spain is an EU member state, it also has to comply with the EU primary and secondary legislations, including the MiFD which is directly associated to securities and the financial market. This also means that CNMV forex brokers can operate in any other EU country.

CNMV attempts to make sure that the Spanish financial market runs smoothly with no misleading forex companies who try to entice customers by false advertising and unrealistic expectations.

The CNMV has a number of different roles including the following:

  • The issuance of CNMV licences
  • The imposition of penalties on any providers found to be in breach of regulations
  • The overseeing of CNMV Forex brokers and their activities
  • Communication with traders, responding to inquiries, and resolving disputes

In addition to acting as a watchdog for Spain’s financial services industry it also participates, the CNMV actively participates in international institutions, such as IOSCO (International Organization of Securities Commissions), ESMA (European Securities and Markets Authority), and FSB (Financial Stability Council).

How to verify CNMV regulated brokers in Spain

Spain has a strict and highly proactive regulatory framework that is dedicated to the protection of investors and the interests of the Spanish economy, which makes the CNMV one of the most respected regulatory authorities in the world.

You can get the broker’s license number from the disclosure text at the bottom of their homepage. You can then look up the authorisation number on the CNMV company register to check if the forex broker is indeed regulated in Spain to provide forex trading products and services to Spanish traders.

Choosing a CNMV-regulated broker can help to ensure that they have sufficient capital available to cover any potential trading losses, because client funds should be held in a segregated account. Traders can also be confident the trading environment will be fair, with trades being executed without any unnecessary delays and low spreads when trading forex.

About the Author

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Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.


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