Best CFD Trading Platforms and Brokers in Spain 2024
CFD trading is popular in Spain, allowing investors to speculate on international and local markets, such as the IBEX 35. CFDs are regulated by the Spanish Securities Market Commission (CNMV), which tightened marketing rules in 2023, banning advertising by public figures and call centers.
We’ve reviewed close to 500 brokers to bring you the best CFD trading platforms in Spain. Every broker accepts traders from Spain and has earned the trust of our experts.
Top 10 CFD Trading Platforms in Spain
These 10 platforms consistently stand out as the best for CFD traders in Spain:
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1
RedMars
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
€2500.01 Lots1:30 (Retail), 1:500 (Pro)CySEC, AFMCFDs, Forex, Stocks, Indices, Commodities, CryptosMT5Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, VisaUSD, EUR -
2
IC Trading
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$2000.01 Lots1:500FSCCFDs, Forex, Stocks, Indices, Commodities, Bonds, Cryptos, FuturesMT4, MT5, cTrader, AutoChartist, TradingCentralPayPal, Neteller, Mastercard, Visa, Wire Transfer, Debit Card, Credit CardUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
3
Eightcap
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:30ASIC, FCA, CySEC, SCB, CNMVCFDs, Forex, Stocks, Indices, Commodities, CryptoMT4, MT5, TradingViewNeteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal, Dragonpay, PIX PaymentUSD, EUR, GBP, CAD, AUD, NZD, SGD -
4
LiteForex Europe
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$500.01 Lots1:30CySEC, AFMCFDs, Forex, Indices, CommoditiesMT4, MT5Neteller, Skrill, Visa, QIWI, Mastercard, Perfect Money, Western Union, Credit CardUSD, EUR, GBP, CHF -
5
InstaForexCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.34% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford the risk of losing your invested funds.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
€200 (€1 after account opening)0.01 Lots1:30 (Retail), 1:500 (Pro)CySECCFDs on Stocks, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Shares & ETFs, Shares BasketsMT4, MT5Skrill, Mastercard, Visa, Neteller, Wire Transfer, Przelewy24, Giropay, Rapid TransferUSD, EUR, GBP, PLN, CZK -
6
Trade Nation200 Sign-Up Reward Points84% of retail investor accounts lose money when trading CFDs with this provider.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.1 Lots1:500 (entity dependent)FCA, ASIC, FSCA, SCB, FSAForex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Cryptos (Bahamas Entity Only)MT4Credit Card, Visa, Mastercard, Wire Transfer, Skrill, PayPal, Debit CardUSD, EUR, GBP, AUD, ZAR, SEK, NOK, DKK -
7
IGSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:222 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
8
BlackBull Markets
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:500FMA, FSAForex, CFDs, stocks, indices, energies, metals, commodities, cryptosMT4, MT5, cTrader, TradingView, AutoChartistNeteller, Skrill, Visa, UnionPay, FasaPay, Mastercard, Credit Card, Bitcoin Payments, Debit Card, BoletoUSD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, SGD -
9
Vantage50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$500.01 Lots1:500FCA, ASIC, FSCA, VFSCCFDs, Forex, Stocks, Indices, Commodities, ETFs, BondsProTrader, MT4, MT5, TradingView, DupliTradeSkrill, BPAY, JCB Card, AstroPay, Visa, Swift, Neteller, Wire Transfer, Credit Card, Debit Card, UnionPay, FasaPayUSD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN -
10
FxPro77.20% of retail accounts lose money with this provider.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited)FCA, CySEC, FSCA, SCB, FSCCFDs, Forex, Stocks, Indices, Commodities, FuturesFxPro Platform, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTradeWire Transfer, Credit Card, PayPal, Skrill, Neteller, Maestro, Mastercard, VisaUSD, EUR, GBP, AUD, JPY, ZAR, CHF, PLN
This is why we think these brokers are the best in this category:
- RedMars - RedMars caters to various short-term trading styles across popular asset classes, including 7 commodities, 14 indices, and 120+ stocks. Leverage is available up to 1:30 (retail) and 1:500 (pro), amplifying results. However, there is no calculator to help with understanding margin requirements and the depth of investments is limited.
- IC Trading - IC Trading specializes in CFD trading with over 2,250 tradable assets spanning sought-after markets including forex, commodities, indices, stocks, and bonds. Utilizing deep liquidity and cutting-edge bridge technology, the broker provides excellent trading conditions for short-term traders looking for leveraged derivatives.
- Eightcap - Eightcap offers a wide range of trading options with 800+ CFDs across stocks, indices, bonds, commodities, and cryptocurrencies (depending on location), with leverage up to 1:30/1:500. It excels in its tools, notably the AI-enabled economic calendar covering 25+ countries with impact filters (high, medium, low). However, its commodities offering, particularly in softs like cotton and wheat, as well as the limited precious metal and energy assets, is its weakest area.
- LiteForex Europe - LiteForex offers leveraged CFDs on popular asset classes, including currencies, commodities and indices. Traders can choose between the ECN and Classic account depending on their strategy alongside an accessible starting deposit and leading trading software from MetaTrader.
- InstaForex - You can trade CFDs across a range of diverse markets with flexible account types and leverage up to 1:30. With access to both MT4 and MT5, day traders can execute multiple short-term CFD trading strategies using the dozens of pre-integrated technical indicators and graphical objects.
- Trade Nation - Trade leveraged CFDs on over 1000 assets with low-cost spreads. You can also take advantage of the broker's integrated signals to help you determine when to enter and exit positions.
- IG - IG offers a huge selection of 17,000+ CFDs, providing more trading opportunities than most CFD brokers. Traders can go long or short on popular markets like stocks, currencies, commodities and cryptos, while custom price alerts and the IG Academy continue to enhance the trading experience.
- BlackBull Markets - BlackBull Markets CFDs are offered on forex, stocks, indices, commodities and cryptos with tight spreads and high leverage. The ECN accounts offer fast execution and low slippage, and the broker provides traders with plenty of extra tools and features plus 24/7 customer support.
- Vantage - Traders can speculate on 1000+ financial markets with high leverage up to 1:500. You can bet on rising and falling prices in currencies, commodities, indices, shares, and more without owning the underlying asset. With the comprehensive choice of CFD trading platforms, users can also switch between desktop, web and mobile for a seamless trading experience.
- FxPro - FxPro offers thousands of CFDs on forex, commodities, indices, shares and futures. The broker's analysis and charting capabilities continue to stand as some of the best in the industry, with Trading Central integration, advanced order types and access to custom indicators.
Best CFD Trading Platforms and Brokers in Spain 2024 Comparison
| Broker | CFD Trading | EUR Account | Minimum Deposit | Markets | Platforms | Leverage |
|---|---|---|---|---|---|---|
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✔ | ✔ | €250 | CFDs, Forex, Stocks, Indices, Commodities, Cryptos | MT5 | 1:30 (Retail), 1:500 (Pro) |
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✔ | ✔ | $200 | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Cryptos, Futures | MT4, MT5, cTrader, AutoChartist, TradingCentral | 1:500 |
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✔ | ✔ | $100 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | MT4, MT5, TradingView | 1:30 |
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✔ | ✔ | $50 | CFDs, Forex, Indices, Commodities | MT4, MT5 | 1:30 |
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✔ | ✔ | €200 (€1 after account opening) | CFDs on Stocks, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Shares & ETFs, Shares Baskets | MT4, MT5 | 1:30 (Retail), 1:500 (Pro) |
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✔ | ✔ | $0 | Forex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Cryptos (Bahamas Entity Only) | MT4 | 1:500 (entity dependent) |
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✔ | ✔ | $0 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral | 1:30 (Retail), 1:222 (Pro) |
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✔ | ✔ | $0 | Forex, CFDs, stocks, indices, energies, metals, commodities, cryptos | MT4, MT5, cTrader, TradingView, AutoChartist | 1:500 |
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✔ | ✔ | $50 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds | ProTrader, MT4, MT5, TradingView, DupliTrade | 1:500 |
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✔ | ✔ | $100 | CFDs, Forex, Stocks, Indices, Commodities, Futures | FxPro Platform, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade | 1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited) |
RedMars
"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."
Christian Harris, Reviewer
RedMars Quick Facts
| FTSE Spread | 15 |
|---|---|
| GBPUSD Spread | 0.7 |
| Stocks Spread | Variable |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Regulator | CySEC, AFM |
| Platforms | MT5 |
| Account Currencies | USD, EUR |
Pros
- Clients in the EU, in particular, can trade with peace of mind knowing RedMars is authorized by the CySEC with up to €20K compensation available through the ICF in the event of bankruptcy
- RedMars offers one of the best platforms for day trading, MT5, hosting 21 timeframes, dozens of analytical tools, flexible templates and algo trading
- The broker is one of a limited number of firms to offer an account specially designed for VIPs with premium support and invites to exclusive events
Cons
- While RedMars' spreads are within industry averages, they don't offer a significant edge over the cheapest day trading brokers we've personally used, notably IC Markets
- The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.
- With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
IC Trading
"With superior execution speeds averaging 40 milliseconds, deep liquidity, and powerful charting software, IC Trading delivers an optimal trading environment tailored for scalpers, day traders, and algorithmic traders. "
IC Trading Quick Facts
| FTSE Spread | 2.133 |
|---|---|
| GBPUSD Spread | 0.23 |
| Stocks Spread | Variable |
| Leverage | 1:500 |
| Regulator | FSC |
| Platforms | MT4, MT5, cTrader, AutoChartist, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- The simplified and digital account opening process saves time and effort, allowing traders to start trading sooner without extensive paperwork, taking just minutes during testing.
- IC Trading offers unusual flexibility in its accounts, enabling traders to open up to 10 live and 20 demo accounts, meaning you can run separate profiles for different activities, such as manual trading and algo trading.
- IC Trading provides industry-leading spreads, including 0.0-pip spreads on major currency pairs such as EUR/USD, making it ideal for day traders.
Cons
- Unlike IC Markets, IC Trading does not support social trading through the group’s IC Social app or the third-party copy trading platform ZuluTrade.
- The educational resources are greatly in need of improvement, unless you navigate to the IC Markets website, posing a limitation for beginners in search of a comprehensive learning journey, especially compared to category leaders like eToro.
- Despite being part of the trusted IC Markets group, IC Trading is authorized by a weak regulator - the FSC of Mauritius, with limited financial transparency and regulatory safeguards.
Eightcap
"Eightcap delivers in every area for day traders with a growing selection of charting platforms, education via Labs, and AI-powered tools. Now sporting 120+ crypto CFDs, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."
Eightcap Quick Facts
| FTSE Spread | 1.2 |
|---|---|
| GBPUSD Spread | 0.1 |
| Stocks Spread | 0.03 (Apple Inc) |
| Leverage | 1:30 |
| Regulator | ASIC, FCA, CySEC, SCB, CNMV |
| Platforms | MT4, MT5, TradingView |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
- With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.
- Eightcap stands out with a selection of powerful trading tools and resources, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.
Cons
- Despite a useful library of educational guides and e-books in Labs, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.
- The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
- Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
LiteForex Europe
"LiteForex is a good option for active day traders with variable spreads from 0.0 pips, daily analysis and high-quality training guides. The forex copy system also lets you duplicate the positions of experienced traders."
William Berg, Reviewer
LiteForex Europe Quick Facts
| FTSE Spread | 0.7 |
|---|---|
| GBPUSD Spread | 0.3 |
| Stocks Spread | N/A |
| Leverage | 1:30 |
| Regulator | CySEC, AFM |
| Platforms | MT4, MT5 |
| Account Currencies | USD, EUR, GBP, CHF |
Pros
- Fast ECN execution model with low spreads from 0.0 pips
- LiteForex offers a range of proprietary mobile app tools which are ideal for traders who want to analyze the markets on the go
- LiteForex has been established for 15+ years and is regulated by a trusted regulator, CySEC
Cons
- There are limited funding methods compared to other brands
- Cryptocurrency trading is not offered
- Fees are fairly high, with spreads starting from 2.0 pips in the Classic account and $10 forex commissions in the ECN account
InstaForex
"InstaForex maintains its position as a top forex broker, with more currency products than most rivals. The tight spreads and low minimum deposits make it accessible to all experience levels, especially those familiar with the MT4 and MT5 platforms."
InstaForex Quick Facts
| FTSE Spread | Av. Floating 100 pips |
|---|---|
| GBPUSD Spread | Av. Floating 0.6 pips |
| Stocks Spread | Commissions as low as 0.1% |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Regulator | CySEC |
| Platforms | MT4, MT5 |
| Account Currencies | USD, EUR, GBP, PLN, CZK |
Pros
- The broker is a particularly good pick for serious forex traders, with over 100 currency pairs, tight spreads from 0.0 pips and a market-leading selection of curated forex market resources
- InstaForex delivers a superb day trading environment, with the powerful MT4 and MT5 platforms offering dozens of technical analysis tools, automation capabilities and multiple order types
- The broker is accessible for beginners, with low minimum deposits and zero-commission trading available.
Cons
- The broker provides trading instruments only in the form of CFDs.
- The broker’s website and client cabinet feel outdated and difficult to navigate for newcomers
- Customer support is available only in EN, CZ, PL, and SK.
Trade Nation
"Trade Nation is a good choice for newer traders looking for a wide range of financial markets on a user-friendly platform. There is no minimum deposit, free funding options and strong education."
Trade Nation Quick Facts
| Bonus Offer | 200 Sign-Up Reward Points |
|---|---|
| FTSE Spread | From 0.4 |
| GBPUSD Spread | From 0.6 |
| Stocks Spread | Variable |
| Leverage | 1:500 (entity dependent) |
| Regulator | FCA, ASIC, FSCA, SCB, FSA |
| Platforms | MT4 |
| Account Currencies | USD, EUR, GBP, AUD, ZAR, SEK, NOK, DKK |
Pros
- Full range of investments via leveraged CFDs for long and short opportunities
- A choice of trading platforms and apps, including MT4, make the brand a good fit for savvy traders
- There is a low minimum deposit for beginners
Cons
- Fewer legal protections with offshore entity
IG
"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
IG Quick Facts
| FTSE Spread | 1.0 |
|---|---|
| GBPUSD Spread | 0.9 |
| Stocks Spread | 0.02 |
| Leverage | 1:30 (Retail), 1:222 (Pro) |
| Regulator | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM |
| Platforms | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Pros
- The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award
- As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
- The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading
Cons
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
- Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests
BlackBull Markets
"BlackBull Markets will suit traders of all experience levels with a growing suite of thousands of tradable instruments, tight spreads and the familiar MetaTrader platforms."
Tobias Robinson, Reviewer
BlackBull Markets Quick Facts
| FTSE Spread | 10.4 |
|---|---|
| GBPUSD Spread | 0.8 |
| Stocks Spread | Variable |
| Leverage | 1:500 |
| Regulator | FMA, FSA |
| Platforms | MT4, MT5, cTrader, TradingView, AutoChartist |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, SGD |
Pros
- Commission-free trading with spreads from 0.0 pips
- $0 minimum deposit and 0.01 lot trades
- Mobile trading experience upgraded with direct TradingView integration
Cons
- US traders not accepted
- Withdrawal fees with some methods
Vantage
"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."
Vantage Quick Facts
| Bonus Offer | 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme |
|---|---|
| FTSE Spread | 1.0 |
| GBPUSD Spread | 0.5 |
| Stocks Spread | 0.01 |
| Leverage | 1:500 |
| Regulator | FCA, ASIC, FSCA, VFSC |
| Platforms | ProTrader, MT4, MT5, TradingView, DupliTrade |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN |
Pros
- The low minimum deposit of $50 and zero funding fees make this broker a great choice for new traders
- There are no short-term strategy restrictions with hedging and scalping permitted
- Vantage has bolstered its algorithmic trading tools for advanced traders with AutoFibo EA identifying reversal opportunities
Cons
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
- Unfortunately, cryptos are only available for Australian clients
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
FxPro
"FxPro is best for experienced traders looking for wide market access, premium research tools and advanced charting platforms. The competitive fees and fast execution will serve serious short-term traders, whilst the BnkPro investment service will appeal to those looking for long-term e-money solutions."
FxPro Quick Facts
| FTSE Spread | 1.58 Pts (Ave) |
|---|---|
| GBPUSD Spread | 2.39 Pips (Ave) |
| Stocks Spread | Variable |
| Leverage | 1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited) |
| Regulator | FCA, CySEC, FSCA, SCB, FSC |
| Platforms | FxPro Platform, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade |
| Account Currencies | USD, EUR, GBP, AUD, JPY, ZAR, CHF, PLN |
Pros
- Comprehensive analysis and trading tools are available for seasoned traders, including signals powered by Trading Central and VPS hosting
- There are 4 superior day trading platforms, including a proprietary solution with over 50 indicators, 7 chart types and an impressive 15 chart time frames
- FxPro maintains its position as a top no dealing desk (NDD) broker, with fast execution speeds under 13ms and co-located trading servers with Tier 1 banks
Cons
- There's no copy trading service, which reduces the appeal for strategy providers looking to earn extra revenue
- The broker charges a $10 inactivity fee after 6 months of account dormancy, though this is more lenient than many brokers
- FxPro's services are mainly geared towards experienced investors and beginners may find the broker's fees and accounts complex
How We Chose The Best CFD Trading Platforms In Spain
To pinpoint the best CFD trading platforms in Spain, we filtered our 500-strong database of brokers that have been exhaustively tested over several years, prioritizing those accepting Spanish traders and sorting them on their overall rating which considers crucial elements, notably:
We Selected Trusted Brokers
We picked CFD brokers we trust, leveraging our firsthand experience using their platforms and balancing their regulatory status with their industry reputation.
The Spanish Securities Market Commission (CNMV) is responsible for overseeing CFD trading, however as a European nation, the European Securities and Markets Authority (ESMA) and MiFID II are influential.
ESMA passed judgment on CNMV’s 2023 decision to amend the rules regarding the marketing of CFD products, largely agreeing with the changes, despite noting a divergence in approach.
Under the CNMV resolution, advertising CFDs to retail investors, including through sponsorships, brand promotions, and public figures, is banned.
- XTB stands out as a highly trusted CFD provider for Spanish traders, with authorization from five ‘Green-Tier’ regulators, including the CNMV, an office presence in Madrid, alongside a listing on the Warsaw Stock Exchange, demonstrating a high degree of financial transparency.
We Chose Brokers With Transparent Leverage Requirements
Leverage is a common component in CFDs, allowing traders to open positions larger than their cash balance, multiplying trading results (profits and losses).
Let’s say I’ve seen that Spanish telecoms company Telefonica (BME:TEF) is about to complete a major deal that could increase its share price. I may want to open a long position to capitalize on this using a leveraged stock CFD.
If I bought €1,000 worth of Telefonica stock at €5 a share using 1:5 leverage, I’d only need to put down €200 (5 x €200 = €1,000).
We review the CFD trading conditions of all brokers we recommend, ensuring they are transparent about the required outlay to trade with leverage, known as margin, plus the level at which a margin call will be issued (a request to deposit more funds) and that stop-outs will take place (the automatic closure of trades to prevent further losses).
- Eightcap excels here, offering leverage trading with clear margin requirements, including leverage up to 1:30 for Spanish retail investors in line with EU regulations.
We Prioritized Brokers With A Strong Investment Offering
We’ve selected CFD trading platforms that offer a wide range of underlying assets, including forex, stocks, indices, commodities and cryptos, covering local markets and international ones.
The Spanish economy is a strong player on the global stage. There are four major stock exchanges: Madrid, Bilbao, Barcelona and Valencia, all owned by the Bolsas y Mercados Españoles (BME).
It has a thriving financial sector, with Banco Santander (BME:SAN), Banco Bilbao (BME:BBVA), and CaixaBank (BME:CABK) all top five companies in the IBEX 35 index. It is also huge in fashion and textiles, with Inditex (BME:ITX), the conglomerate owning famous brands like Zara, Oysho and Massimo Dutti.
Additionally, Spain has four of the top 125 busiest seaports in the world, making it an influential economy in foreign trade. It is also part of the Eurozone, making CFD trading in currency pairs containing the EUR an attractive proposition.
- SaxoBank is a great example of a CFD broker that offers fantastic opportunities to speculate on the Spanish economy. Traders can access Spanish stocks such as Telefonica SA, CaixaBank SA and Acerinox SA. It also offers popular EUR pairs, including the EUR/GBP, EUR/CHF and EUR/USD.
We Selected Brokers With Excellent Pricing
A low-cost pricing structure is essential to build a profitable CFD portfolio, especially for day traders executing a large volume of trades where transaction fees can mount.
That’s why we analyze spreads on popular CFD assets, notably forex, stocks, indices and commodities, as part of our in-depth testing process. On top of that, we evaluate any additional fees, such as inactivity fees, to ensure there are no hidden extras.
- CMC Markets shines for its industry-low CFD trading fees, notably a 0.7 spread on the EUR/USD, a 5.0 spread on the IBEX 35, plus spread discounts of up to 40% for active traders.
We Choose Platforms With Great Charting And Research Tools
CFD traders, especially short-term traders, need a platform that gives them a great suite of charting tools for technical analysis.
We’re regularly testing platforms and apps to ensure we’re recommending the best around for Spanish traders, paying particular attention to their usability, charting package, and research tools.
Most CFD brokers offer at least one of MetaTrader 4 or MetaTrader 5, and increasingly solutions like cTrader and TradingView, which continue to rival the MetaTrader suite in the charting department while delivering a more user-friendly design.
We Opted For Brokers With Convenient Account Funding For Spanish Traders
Spanish residents generally prefer to use traditional payment methods like debit cards, credit cards or bank transfers, according to findings from Pay.com. However, digital wallets like PayPal are increasingly popular among CFD traders.
All our recommended CFD trading platforms in Spain offer a choice of bank cards, wire transfers and electric payment solutions. They also all have an affordable minimum deposit – we consider anything up to €250 accessible for most retail investors.
- FxPro makes deposits and withdrawals hassle-free for Spaniards with support for bank cards, wire transfers and e-wallets notably PayPal, alongside an easy-to-navigate cashier portal and a low minimum deposit of €100.
FAQ
Who Regulates CFD Trading Platforms And Brokers In Spain?
The Spanish Securities Market Commission (CNMV) is the local regulator in Spain. However, as Spain is part of the EU, it’s also covered by the European Securities and Markets Authority (ESMA) and MiFID II.
This means that CFD trading platforms can be regulated by other European authorities and still provide services in Spain under the EU passporting scheme.
How Much Money Do I Need To Open A CFD Trading Account In Spain?
Our directory of hundreds of online brokers shows you typically need up to €250 to open a CFD trading account in Spain.
However, some CFD trading platforms cater specifically to budget traders with a €0 minimum deposit – the highest-rated is Trade Nation.
Recommended Reading
Article Sources
- European Securities and Markets Authority (ESMA)
- Bolsas y Mercados Españoles (BME)
- Popular Payment Methods in Spain (Pay.com)
- MiFID II
- IBEX 35
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