Are you looking for the best Forex brokers in Spain? If so, you have come to the right place. In this article on AtoZ Markets, we will discuss some of the best Forex brokers in Spain and why you should consider using them. We will also provide a list of some of the most popular Forex brokers in Spain so that you can compare their features and decide which one is right for you.
Spain is one of the most popular countries for Forex trading, and there are plenty of brokers to choose from. However, not all brokers are created equal. Some are better than others, and some offer different features that may be more or less appealing to you. It is important to do your research before choosing a broker so that you can find one that best suits your needs.
Top Forex Brokers in Spain 2024
How to choose forex brokers in Spain?
Now that we have discussed some of the best Forex brokers in Spain, let's talk about how to choose one. There are a few things that you should look for when choosing a broker, and these include:
Regulations: It is important to make sure that the broker you choose is regulated by a reputable body such as the Financial Conduct Authority (FCA) in the UK or the Cyprus Securities and Exchange Commission (CySEC). This will ensure that your broker is compliant with strict financial regulations and that your money is safe.
Assets: As we mentioned earlier, not all brokers offer the same assets. Some only offer currency pairs, while others offer stocks, indices, commodities, and more. Make sure that the broker you choose offers the assets that you are interested in trading.
Trading Platforms: The last thing you want is to sign up for a broker only to find out that their platform is difficult to use or navigate. Make sure that the platform is easy to use and understand so that you can focus on your trading.
Fees and Commissions: When you are trading, you will be charged fees and commissions by your broker. These fees can eat into your profits, so make sure that you choose a broker with low fees.
Competitive Spreads: Spread is the difference between the bid and ask price of an asset. The lower the spread, the better it is for you as a trader. Make sure that you compare the spreads of different brokers before choosing one.
A Variety Of Account Types: Some brokers only offer one type of account, while others offer multiple types. Make sure that you choose a broker that offers an account type that suits your needs and budget.
Customer Support: When you are trading, there will inevitably be times when you need assistance from customer support. Make sure that the broker you choose offers excellent customer support so that you can get help when you need it.
These are just a few of the things to look for when choosing a Forex broker in Spain. If you keep these factors in mind, you should be able to find a great broker that meets your needs and helps you to trade successfully.
Best Forex Brokers in Spain
It's not an easy task to choose a reliable forex broker in Spain as the offer is large and it's hard to know whom to trust. That's why we have gathered, in this article, some of the best forex brokers in Spain that are regulated by well-known financial authorities.
- Capex
- Multibank
- IronFX
- eToro
Capex
Capex is a fantastic option for Spanish Forex traders because it provides many tools and features that will aid you in becoming successful. The company is headquartered in Cyprus however, it is represented in South Africa, Romania, Spain, United Arab Emirates and Seychelles. The company that owns the brand is Key Way Investments Limited.
Capex Regulations
Capex is subject to the following respected regulators:
Cyprus: Key Way Investments Ltd operates capex.com and is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with a branch in Spain.
Spain: Capex is registered with the Spanish National Securities Market Commission (CNMV).
Romania: Capex is registered with the Romanian Financial Supervisory Authority (ASF).
South Africa: za.capex.com and is authorized and regulated by the South African Financial Sector Conduct Authority (FSCA).
Abu Dhabi: ae.capex.com is regulated by Financial Services Regulatory Authority
Seychelles: sc.capex.com is authorized and regulated by the Seychelles Financial Services Authority (FSA).
Capex Trading Platforms
Capex offers traders three trading platform options: WebTrader, MT5 platform, and a mobile trading application.
WebTrader
Capex offers a highly sophisticated and well-constructed trading platform on its own called WebTrader. The Capex platform is the best option for newbies since it is simple to use and provides the major indicators of trading. It's very easy to use for novice traders and allows you to trade right on your desktop, and offers very fast order execution time.
MetaTrader 5
The broker also offers MT5 which is which is an open-source platform. It can replace the well-known MT4 by adding new and enhanced capabilities to a platform that was previously thought to be perfect.
The benefit that comes with MetaTrader 5 is that, since it is open-source, additional applications are available to install which you can download from the marketplace which the platform provides users. It is possible to customize the graphics in an innovative way and add any functions to it you think are important.
Mobile app
The mobile-based trading platform is available for iOS as well as android and it's also extremely popular.
Capex Products
Capex is a worldwide broker that trades more than 2,100 trading instruments, including indexes, stocks, CFDs, Forex, cryptocurrencies, ETFs, bonds issued by the government and commodities.
Capex provides five Forex trading accounts The basic, essential Original, Premium, and Signature, with deposits minimum of $100 $800, $1000 as well as $25,000 and $10,000 respectively.
Capex Cost
CAPEX is an online broker that has no commissions for trading. Capex Spreads on EUR/USD averages 1.8 per cent.
Capex charges EUR30 for inactivity If your account has been inactive for more than three months.
CAPEX doesn't include other charges or commissions related to trading or making use of its tools.
Capex Customer Support
If you want to reach CAPEX support, contact us via email, phone, or live chat.
Live chat that you can reach through the Capex app and website is the fastest method of getting support and also the fact that it's "in writing" leaves no chance of miscommunication.
In Capex website, you'll also have a section devoted to FAQs.
Capex Pros & Cons
Pros
√ Well Regulated
√ More than 2100 instruments
√ Trading is available for shares, ETFs, bonds and cryptos indexes, FX, and shares
√ Minimum deposit is only $100
Cons
- No access to the MT4
- United States, Canada or Japan clients are not accepted.
Want to try Capex in Spain? You can do so by clicking the following link:
You may also want to try any of the following alternative Forex Brokers for Spain
Multibank
Multibank is a great option for forex traders. MEX Spain has obtained approval to operate its operations from the National Securities Market Commission (CNMV) which is Spain's principal financial regulator.
image credit: Multibank Group
MultiBank Regulations
Multibank is licensed andregulated by reputable regulatory authorities of different countries:
Spain: MEX Spain has received approval to operate from the National Securities Market Commission (CNMV).
Australia: MEX Australia is regulated by the Australian Securities & Investments Commission.
Germany: The company is regulated by the Federal Financial Supervisory Authority (BAFIN).
Austria: MEX Asset Management GmbH is licensed and regulated by the Financial Markets Authority (FMA).
Cayman Islands: MEX Atlantic Corporation is licensed and managed by CIMA. Cayman Islands Monetary Authority (CIMA).
British Virgin Islands: Multibank FX International Corporation is licensed and is controlled by the Financial Services Commission of the British Virgin Islands (FSC).
Hong Kong: Red Rock Pay Ltd is licensed and is by Hong Kong Customs and Excise (HKCE).
Singapore: MEX Global Markets PTE. LTD. is licensed and supervised by Monetary Authority of Singapore (MAS).
Pacific Region: MEX Pacific (V) Ltd is licensed and is regulated by Vanuatu Financial Service Commission (VFSC).
Multibank Trading Platforms
Multibank offers a wide range of trading platforms. Traders can choose the trading platforms according to their needs and comfort. They offer MetaTrader 4, MetaTrader 5, WebTrader, Social Trading & Mobile App.
MultiBank Products
MultiBank offers Forex, Metals, Shares, Indices, Commodities and Cryptocurrencies.
MultiBank offers 55 major, cross - as well as exotic currencies and has the lowest spreads. The spreads for EUR/USD start at 0.0 pip for your ECN account. MultiBank has Gold, Silver for commodities lovers. They also provide stock CFDs.
If you are the one who likes CFD trading, read our Best CFD Broker in Spain 2024 article.
MultiBank includes major indices from across the globe. They offer 16 major commodities through CFDs. The broker also provides Crypto-Fiat pairs to use to trade.
MultiBank provides three kinds of accounts. Standard, Pro, ECN accounts along with Demo accounts. All account types are compatible with Social Trading.
They also have an Mex Sports account exclusively for the MT5 platform.
For Forex Spreads, spreads begin from zero on an ECN account, and can vary depending on the type of account you have.
MultiBank offers 1:500 leverage on metals and forex. For shares 1:10, for Indexes 1:100, and for crypto 1:20
MultiBank Cost
They don't charge any commissions on Standard and Pro accounts but for ECN accounts, they cost EUR3 for each lot.
They offer a range of deposit methods , including card and bank transfer. The minimum withdrawal amount is EUR50 for credit cards and online and for bank transfers it's EUR100. There are no charges for withdrawals or deposits.
MultiBank Customer Support
Multibank offers 24/7 support, that is simply amazing. Customer support is available through Whatsapp along with online form filling, live chat , and 24 hours a day telephone call. Live chat was extremely fast and responsive.
Multibank Pros & Cons
Pros
√ They provide over 20,000 assets
√ The spreads are low starting at 0 pip and the maximum leverage of 1:500
√ They have accounts for MAM/PAMM and their own copy trading platform.
√ Multibank offers ECN trading with high liquidity and no Requotes.
Cons
- Scalping is not allowed on Multibank
- They are affluent and have limited educational resources
Want to try Multibank in Spain? You can do so by clicking the following link:
Top Forex Brokers in Spain 2024
IronFX
IronFX is a great option to Spanish Forex traders. IronFX is also regulated by the Spanish regulator CNMV. IronFX is the name used by Notesco Limited.
image credit: IronFX
IronFX Regulations
IronFX has been licensed as well as controlled by the following reliable regulators around the globe:
United Kingdom: IronFX is licensed and regulated by the Financial Conduct Authority (FCA).
Spain: IronFX is licensed and is regulated by the Spanish national commission for financial markets (CNMV).
Netherlands: IronFX is licensed and controlled through the Authority for the Financial Markets.
France: The broker is regulated through The Autorite des marches financiers (AMF).
Germany: IronFX is also controlled under the Federal Financial Supervisory Authority (BaFin).
Additionally, the Broker is regulated by CNB, by CNVM, by FI, by KNF and through CONSOB and by HFSA.
Ironfx Trading Platforms
To be specific, for IronFx provides only the world-renowned MT4 trading system. They don't offer MT5 or other platforms. It is available for download to Windows, MacOs, Android and iOS.
IronFx Products
IronFx provides 83 currency pairs including 6 metallic pairs, 17 indicies three commodity pairs, and CFDs of 25 on futures and shares of world-renowned businesses from various markets.
For Forex, Spreads start from zero pip. The leverage for currency pairs ranges from 1:100 up to 1:1000, based on your equity.
IronFx Cost
In live floating and fixed accounts, there are no commissions. In the case of Zero spread and absolute zero spread STP/ECNaccounts, the commission ranges from $18 and goes as high as $43, based on the currency pair. The minimum deposit is €50 and the minimum amount to withdraw is €10.
Ironfx Customer Support
Support for the broker for South Africa is available 24 all day, seven every day via live chat or phone calls. I've logged into the live chat feature. They are extremely prompt in responding.
IronFX Pros & Cons
Pros
√ IronFx's site is simple to navigate.
√ It is monitored by a variety of credible regulatory authorities across the globe.
√ Brokers are user-friendly, making it an ideal choice for those who are new to the field.
√ IronFx includes a wide range of highly-rated third-party add-ons.
Cons
- IronFx's research and news resources are somewhat outdated.
- IronFX doesn't provide MT5
- IronFx does not offer integrated trading in cryptocurrency.
Want to try IronFX in Spain? Do so with the following link:
eToro
eToro is an investment and social trading platform that lets you trade a variety of assets, such as stocks, currencies, commodities and indexes. One of the most appealing aspects about eToro is that it has various tools and features to aid you in becoming an effective trader.
image credit: eToro
eToro Regulations
eToro is regulated by a variety of regulatory authorities across the world.
Europe: eToro Europe is controlled by the Cyprus Securities & Exchange Commission (CySEC).
United Kingdom: eToro (UK) Ltd is authorized and controlled under the Financial Conduct Authority (FCA).
Australia: eToro AUS Capital Pty Ltd is licensed by the Australian Securities and Investments Commission (ASIC).
USA: eToro USA is managed through eToro USA LLC, registered with FinCEN.
eToro Products
They include 49 Currency pairs and 32 Commodities 13 Indices, 2711 stocks, 264 EFTs and 51 Cryptocurrencies. They have tot tradable symbols of 3056.
eToro Trading Platforms
They don't use MT4 and MT5 However, they do offer their own Platform along with a Mobile platform, Web platform and application.
eToro Cost
The minimum deposit for eToro could range between EUR10 to EUR200.
eToro doesn't charge any charges for deposits, but the withdrawal fee is EUR5. If you withdraw funds in a currency other that USD You are charged conversion fees. In the case of the bank wire.
eToro spreads begin with 1 pip. In Europe, they provide leverage of 1:30 on forex pairs.
eToro Customer Support
They offer exceptional customer support through email, phone or call-back and live chat via the internet. For live chat service, you have access their website.
eToro Pros and Cons
Pros
√ The trading of ETFs as well as stocks are completely free.
√ A new account can be opened in an effortless manner
√ One of the most popular social trading platforms
√ Low minimum deposit requirement.
Pros
- The customer service needs to be enhanced.
- The base currency of the account is only one.
-Charges for non-trading that are expensive
If you want to give it a try with eToro, you can use the link below:
These are just a few of the best forex brokers in Spain. If you keep these factors in mind, you should be able to find a great broker that meets your needs and helps you trade successfully.
Conclusion
After taking a look at some of the best Forex brokers in Spain, we can conclude that there are many great options available to traders. All of the brokers mentioned above are regulated by well-known financial authorities and offer a variety of features and tools to help you be successful. So, if you are looking for a Forex broker in Spain, be sure to keep these factors in mind.
We hope that this article has been helpful and that you now have a better understanding of the best Forex brokers in Spain. If you would like to learn more about Forex trading, be sure to check out our other articles. Thanks for reading.
Top Forex Brokers in Spain 2024
Next Read: Best Forex Brokers in Europe 2024