Best Forex Trading Platforms In Spain 2024
Looking for a forex broker in Spain to trade currencies like the euro? Discover our selection of the best forex trading platforms in Spain, personally tested and rated by our experts.
Many of these platforms are geared towards Spanish traders with authorization from ‘green tier’ EU bodies in DayTrading.com’s Regulation & Trust Rating, such as the National Securities Market Commission (CNMV).
Top Forex Trading Platforms In Spain
As of our latest tests in December 2024, these are the 10 best brokers for forex traders in Spain:
-
1RedMars
Ratings
€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 -
2Vantage50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
Ratings
$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, FasaPay, Sticpay, Bitwallet, VoletUSD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN -
3Eightcap
Ratings
$1000.01 Lots1:30ASIC, FCA, CySEC, SCBCFDs, 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 -
4PrimeXBT$100 Deposit Bonus
Ratings
$00.01 Lots1:1000CFDs, Cryptos, Forex, Indices, Commodities, FuturesOwnBitcoin Payments, Ethereum Payments, Credit Card, Debit CardUSD, EUR, GBP -
5IGSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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
$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, TradingView, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
6FxPro77.20% of retail accounts lose money with this provider.
Ratings
$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 -
7CMC MarketsSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading 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
$00.01 Lots1:30 (Retail), 1:500 (Pro)FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSACFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread BettingWeb, MT4Visa, Mastercard, Wire Transfer, Credit Card, Debit Card, PayPalUSD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN -
8FXCC100% First Deposit Bonus Up To $2000
Ratings
$00.01 Lots1:500CySECCFDs, Forex, Indices, Commodities, CryptoMT4Skrill, Neteller, Rapid Transfer, Sofort, Paysafecard, Visa, Bitcoin Payments, Credit Card, Debit Card, Mastercard, Wire Transfer, UnionPay, Ethereum Payments, Netbanx Asia, BoletoUSD, EUR, GBP -
9XTBCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-83% 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 to take the high risk of losing your money
Ratings
$00.01 Lots1:30 (EU) 1:500 (Global)FCA, CySEC, KNF, DFSA, FSCCFDs on shares, Indices, ETFs, Raw Materials, Forex currencies, cryptocurrencies, Real shares, Real ETFsxStationPayPal, Visa, Mastercard, Wire Transfer, Paysafecard, Skrill, Credit Card, Debit Card, Maestro, NetellerUSD, EUR, PLN -
10Plus50082% of retail CFD accounts lose money.
Ratings
$100Variable1:30FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSACFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, CryptoWebTrader, AppPayPal, Skrill, Visa, Wire Transfer, Mastercard, Credit Card, Debit Card, Trustly, Apple PayUSD, EUR, GBP, AUD, ZAR, CZK
This is why we think these brokers are the best in this category:
- RedMars - RedMars strongest investment category is forex with more than 50 currency pairs, from majors to minors and exotics. Spreads start from 0.0 pips, catering to active currency traders, and leverage can reach 1:500. However, there are no forex heatmaps or research tools to support aspiring forex traders.
- Vantage - Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
- Eightcap - Eightcap offers 50+ currency pairs in line with the industry average but trailing category leaders like CMC Markets with its 300+ currency pairs. However, Eightcap stands out with institutional-level spreads from 0.0 pips on major pairs like the EUR/USD, alongside low $3.50/side commissions. The broker also offers rich forex data to inform trading decisions, including key fundamentals, bullish/bearish indicators and a calendar that tracks key events in the foreign exchange market.
- PrimeXBT - PrimeXBT offers forex trading on over 50 majors, minors and exotics with margin opportunities and zero commissions. The forex platform is fast, reliable and feature-rich based on our latest tests with 3 charts, 10 timeframes, and 91 technical studies - ideal for active trading strategies.
- IG - IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD.
- FxPro - FxPro offers 70+ currency pairs with ultra-fast execution speeds and tight spreads from 0.46 pips on EUR/USD. The range of forex assets outranks many rivals, including our award winner, AvaTrade. Various short-term forex strategies are permitted, including EA trading and hedging.
- CMC Markets - CMC presents an extensive array of 300+ forex pairs characterized by tight spreads and rapid executions, surpassing the offerings of many competitors in terms of currency diversity. Forex indices also present a fairly unique and holistic way to speculate on the value of key currencies like the USD, EUR and GBP.
- FXCC - FXCC's key selling point is its forex trading conditions. ECN spreads come in as low as 0.0 pips during peak trading hours, while it supports a wider range of currency pairs than the majority of rivals with over 70 forex assets. Additionally, you have access to MT4, which was built specifically for forex trading and excels for its charting tools.
- XTB - XTB provides access to 70+ currency pairs with low spreads averaging around 1 pip on majors. The xStation platform offers an intuitive environment for forex traders with an excellent charting package encompassing 30+ indicators, plus a range of order types, catering to various strategies and risk management techniques.
- Plus500 - Plus500 provides forex trading through CFDs, featuring narrow spreads across an impressive selection of over 60 currency pairs. During testing, spreads came in as tight as 0.6 pips on the EUR/USD, which is notably lower than many alternatives.
Best Forex Trading Platforms In Spain 2024 Comparison
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
GBPUSD Spread | 0.7 |
---|---|
EURUSD Spread | 0.7 |
EURGBP Spread | 1.1 |
Total Assets | 50+ |
Leverage | 1:30 (Retail), 1:500 (Pro) |
Platforms | MT5 |
Account Currencies | USD, EUR |
Pros
- The broker supports a range of flexible payment methods, including wire transfers, credit cards, e-wallets, and notably cryptocurrencies
- 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
- 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
- RedMars falls short for newer traders, with little in the way of education, no beginner-friendly platform, a steep minimum deposit, and inadequate support during testing
- 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
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."
Jemma Grist, Reviewer
Vantage Quick Facts
Bonus Offer | 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme |
---|---|
GBPUSD Spread | 0.5 |
EURUSD Spread | 0.0 |
EURGBP Spread | 0.5 |
Total Assets | 55+ |
Leverage | 1:500 |
Platforms | ProTrader, MT4, MT5, TradingView, DupliTrade |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN |
Pros
- Vantage caters to hands-off investors with beginner-friendly social trading via ZuluTrade & Myfxbook
- The broker has recently made efforts to expand its suite of CFDs providing further trading opportunities
- It’s quick and easy to open a live account – taking less than 5 minutes
Cons
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
- A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
- Unfortunately, cryptos are only available for Australian clients
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."
Christian Harris, Reviewer
Eightcap Quick Facts
GBPUSD Spread | 0.1 |
---|---|
EURUSD Spread | 0.0 |
EURGBP Spread | 0.1 |
Total Assets | 50+ |
Leverage | 1:30 |
Platforms | MT4, MT5, TradingView |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- Having excelled across all key areas for day traders, Eightcap outperformed every competitor to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
- 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.
- 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.
Cons
- 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.
- 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.
PrimeXBT
"PrimeXBT is perfect for aspiring traders looking for crypto derivatives alongside traditional markets like forex and indices, all tradable on an intuitive, web-based platform. The copy trading solution is also ideal for hands-off traders with 5-star ratings and performance graphs to help you find the right trader."
William Berg, Reviewer
PrimeXBT Quick Facts
Bonus Offer | $100 Deposit Bonus |
---|---|
GBPUSD Spread | Variable |
EURUSD Spread | 0.1 |
EURGBP Spread | Variable |
Total Assets | 45+ |
Leverage | 1:1000 |
Platforms | Own |
Account Currencies | USD, EUR, GBP |
Pros
- 24/7 customer support, available via live chat, proved excellent during testing, while the extensive help centre is perfect for self-help.
- Maker and taker fees of at 0.01% and 0.02%, respectively, for crypto futures contracts are highly competitive within the industry.
- Ultra-fast execution speeds, averaging 7.12ms, make PrimeXBT an excellent option for day traders looking to secure the best prices in volatile markets.
Cons
- Despite improvements, the selection of around 100+ instruments still seriously trails competitors, notably OKX with its 400+ assets.
- While common in the crypto industry, PrimeXBT lacks authorization from a trusted regulator, seriously elevating the risk for retail traders.
- The lack of integration with established platforms like MT4 will be limiting for traders familiar with the world’s most popular forex trading software.
IG
"IG continues to provide a comprehensive package with an intuitive web platform, best-in-class education for beginners, advanced charting tools bolstered by its recent TradingView integration, real-time data, and fast execution speeds for experienced day traders."
Christian Harris, Reviewer
IG Quick Facts
GBPUSD Spread | 0.9 |
---|---|
EURUSD Spread | 0.8 |
EURGBP Spread | 0.9 |
Total Assets | 80+ |
Leverage | 1:30 (Retail), 1:222 (Pro) |
Platforms | Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral |
Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Pros
- IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis.
- 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, while IG has also added TradingView integration.
- 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.
Cons
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
- While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients.
- 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.
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."
William Berg, Reviewer
FxPro Quick Facts
GBPUSD Spread | 2.39 |
---|---|
EURUSD Spread | 1.58 |
EURGBP Spread | 1.74 |
Total Assets | 70+ |
Leverage | 1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited) |
Platforms | FxPro Platform, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade |
Account Currencies | USD, EUR, GBP, AUD, JPY, ZAR, CHF, PLN |
Pros
- 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
- Thousands of CFDs are available across 6 asset classes with a particularly impressive range of indices and precious metals
- Comprehensive analysis and trading tools are available for seasoned traders, including signals powered by Trading Central and VPS hosting
Cons
- FxPro's services are mainly geared towards experienced investors and beginners may find the broker's fees and accounts complex
- The broker charges a $10 inactivity fee after 6 months of account dormancy, though this is more lenient than many brokers
- There are only a handful of payment methods available, compared to the 10+ offered at top competitors like AvaTrade
CMC Markets
"With advanced charting tools and an extensive range of tradable CFDs, including an almost unrivalled selection of currencies and custom indices, CMC Markets provides a fantastic online platform for traders of all levels. "
Christian Harris, Reviewer
CMC Markets Quick Facts
GBPUSD Spread | 0.9 |
---|---|
EURUSD Spread | 0.7 |
EURGBP Spread | 1.1 |
Total Assets | 300+ |
Leverage | 1:30 (Retail), 1:500 (Pro) |
Platforms | Web, MT4 |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN |
Pros
- The brokerage continues to stand out with its wide range of value-add resources, including pattern recognition scanners, webinars, tutorials, news feeds, and research from respected sources like Morningstar.
- CMC Markets offers a rich investment offering with over 12,000 CFDs and more recently options trading, providing opportunities to trade market volatility and hedge existing positions.
- The web platform delivers a fantastic user experience with advanced charting tools for day trading and customizable features, catering to both beginners and experienced traders. MT4 (but not MT5) is also supported.
Cons
- An inactivity fee of $10 per month is applied after 12 months of inactivity, which may deter casual investors.
- Despite improvements, the web platform still requires enhancements to make it as intuitive to trade on as software from rivals like IG.
- Trading stock CFDs incurs a relatively high commission, especially compared to the cheapest brokers like IC Markets.
FXCC
"FXCC continues to prove itself an excellent option for forex day traders with an extensive range of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and high leverage up to 1:500 in the ECN XL account. "
Jemma Grist, Reviewer
FXCC Quick Facts
Bonus Offer | 100% First Deposit Bonus Up To $2000 |
---|---|
GBPUSD Spread | 1.0 |
EURUSD Spread | 0.2 |
EURGBP Spread | 0.5 |
Total Assets | 70+ |
Leverage | 1:500 |
Platforms | MT4 |
Account Currencies | USD, EUR, GBP |
Pros
- As an MT4 broker, FXCC offers advanced charting tools and excellent support for algo traders, especially when combined with the free VPS
- There are no restrictions on short-term trading strategies like day trading and scalping
- There are no deposit fees except industry-standard mining charges on cryptos, which is advantageous for active traders
Cons
- High withdrawal fees may catch out unsuspecting traders, including a significant $45 charge for bank wire payments
- There is a threadbare selection of research tools like Trading Central and Autochartist, value-add features available at category leaders like IG
- FXCC’s single platform offering is a major drawback compared to many alternatives, notably AvaTrade which provides 5 platforms to suit different trader preferences
XTB
"XTB stands out as a top choice for new day traders with the terrific xStation platform, commission-free pricing, no minimum deposit, and excellent educational tools, many of which are seamlessly integrated into the platform. "
Christian Harris, Reviewer
XTB Quick Facts
GBPUSD Spread | 1.4 |
---|---|
EURUSD Spread | 1.0 |
EURGBP Spread | 1.4 |
Total Assets | 70+ |
Leverage | 1:30 (EU) 1:500 (Global) |
Platforms | xStation |
Account Currencies | USD, EUR, PLN |
Pros
- XTB offers fast withdrawals with same-day payments if requested before 1 pm, ensuring day traders have quick access to their funds.
- First-class 24/5 customer support is available, including a friendly live chat with response times of under two minutes during testing.
- With an excellent range of educational materials, including training videos and articles integrated into the platform, XTB supports traders at all levels.
Cons
- Not being able to adjust the default leverage level of XTB products is frustrating, as manual adjustment can significantly mitigate trade risk, especially in forex and CFD trading.
- XTB discontinued support for MT4, limiting traders to its proprietary platform, xStation, potentially deterring advanced day traders familiar with the MetaTrader suite.
- XTB does not offer a raw spread account, which is becoming increasingly common among competitors like Pepperstone, and may disappoint day traders looking for the tightest spreads.
Plus500
"Plus500 offers a super-clean experience for traders with a CFD trading platform that sports a modern design and dynamic charting. That said, the broker’s research tools are limited, fees trail the cheapest brokers, and there’s room for enhancement in its educational resources."
Christian Harris, Reviewer
Plus500 Quick Facts
GBPUSD Spread | Dynamic |
---|---|
EURUSD Spread | Dynamic |
EURGBP Spread | Dynamic |
Total Assets | 60+ |
Leverage | 1:30 |
Platforms | WebTrader, App |
Account Currencies | USD, EUR, GBP, AUD, ZAR, CZK |
Pros
- You can utilize leverage while engaging in long or short positions, allowing for more strategic trading opportunities
- Plus500 has recently bolstered its suite of short-term trading products, including introducing VIX options with enhanced volatility and extended hours trading on 7 stock CFDs
- The broker offers commission-free trading on a diverse range of markets, minimizing additional fees while appealing to established traders
Cons
- Plus500’s lack of support for MetaTrader or cTrader charting tools might be a deal breaker for advanced day traders looking for familiarity
- The absence of social trading means users can’t follow and replicate the trades of experienced traders
- Algo trading and scalping are not supported, which may deter some day traders
How We Chose The Best Forex Brokers In Spain
To identify the leading forex trading platforms in Spain, we began by filtering our database of 216 providers to select only the platforms that accept Spanish residents and offer forex trading.
Then we sorted the brokers by their total rating derived from our hands-on assessments. These were conducted by our traders and industry experts, and combine 200+ data points with personal insights in key areas.
These are the key factors we, and you, should consider when choosing a brokerage to trade currencies in Spain:
Trust
There’s a reason that at DayTrading.com we consider our Regulation & Trust Rating the most important criterion while rating a forex broker: you can’t afford to risk depositing your euros with a firm you can’t trust.
To help our readers pick the gems among the many unreliable forex firms that Spain’s regulator, the National Securities Market Commission (CNMV), has warned against, we employ a rigorous vetting process in our reviews:
- We check and rate each broker’s list of licenses, awarding the highest points to brokers with oversight from ‘green-tier’ bodies like CNMV, while unlicensed brokers or those with licenses from ‘red-tier’ regulators generally achieve a poor rating.
- We assess the broker’s track record in the industry by researching news and regulators’ announcements for reports of scams or unfair practices. Our most trusted brokers have a long, clean record in the industry.
- We award our highest ratings to brokers with a large number of clients and a listing on a major stock exchange, since this entails even more thorough vetting of their business in addition to those by regulators.
- Several of our team trade with IG because it’s one of the most trusted forex brokers, operating with a sparkling record since 1974 and a listing on the London Stock Exchange. As well as its near-perfect 4.9 Regulation & Trust rating, IG also wows with a huge range of EUR and other forex pairs.
Currency Pairs
Active traders often look for new trading opportunities across the global foreign exchange market, so we highly rate providers with a wide range of available currency pairs.
For traders in Spain, pairs with the euro (EUR) will usually take precedence. Fortunately, as the world’s second most traded currency, there are usually plenty to choose from.
This includes the most popular pairs like EUR/USD and EUR/GBP, which generally offer great liquidity, and thus, competitive trading costs.
We also look for minor and exotic pairs like EUR/TRY, since these often come with heightened volatility that can lead to opportunities to profit from large price swings.
However, in our experience, minors and exotics usually have wider spreads that can hurt short-term trading strategies.
- FxPro‘s offering of 70+ forex pairs remains towards the head of the pack, with all the majors plus a large range of EUR minor and exotic pairs like EUR/HKD, EUR/ZAR and EUR/PLN. You can choose between fixed spreads from 1.2 and a competitive floating spread on the MT5 account that starts from 0.0.
Fees
Your fees when trading forex will typically consist of the spread (the difference between the bid and ask price), sometimes a commission, plus any non-trading fees such as currency conversion or deposit charges.
The spread is generally the biggest fee you’ll pay and the greatest barrier to profit. So, we favor brokers with the tightest spreads and as part of our review process. We record spreads on the EUR/USD and EUR/GBP for each forex platform.
In some cases, on major pairs like EUR/USD and during busy trading hours, you’ll find spreads can go as low as zero (though you may need to pay a small commission)
Spanish traders can potentially swerve conversion fees when making deposits and withdrawals by opting for a- Vantage continues to impress by offering some of the best pricing around on its 57 forex pairs, with access to ultra-tight spreads on the ECN account for a low initial deposit of $50 – ideal for active traders. Vantage’s transparent pricing model also features no hidden charges such as deposit, withdrawal and inactivity fees.
Charting Platforms
Day trading is a complex and demanding form of forex trading that often involves sophisticated research and split-second accuracy.
As a result, a responsive charting platform with the depth to conduct technical analysis can be crucial.
Based on our tests, most forex brokers that accept clients in Spain support the long-time forex favorite, MetaTrader 4 (MT4).
MT4 still provides all the charting power, in-built tools and indicators, and automated trading features you’ll need to potentially profit on forex markets.
However, we’ve found newer platforms have started to surpass the classic MT4 in several key areas.
TradingView is a particular favorite among some of our team because it’s both easy to use and feature-rich, with a huge range of indicators and charting options as well as customizability through the powerful Pine script.
The market-leading integrated research and social trading also ensure FX traders have everything they need on one platform.
Additionally, I’ve been very impressed by some brokers’ bespoke platforms.In my experience, these are almost always the easiest way for beginner traders to get started, and they’re usually optimized to run through a browser window or mobile app.
- Eightcap still covers all the bases for everyone from beginning traders to pros with its platform offering of MT4, MT5 and TradingView, including mobile apps and web traders for all software options. Bundled with these platforms is Capitalise.ai, which allows traders to benefit from automated trading without needing coding knowledge, plus a useful AI-powered economic calendar to help pinpoint forex trading opportunities.
FAQ
Who Regulates Forex Trading Platforms In Spain?
To provide forex trading services in Spain, online brokers should be licensed by the Comisión Nacional del Mercado de Valores (National Securities Market Commission; CNMV), the country’s financial regulator.
Thanks to the EU’s passporting system, brokers authorized by other European regulators, such as CySEC (Cyprus) or BaFin (Germany), can also legally offer forex trading services in Spain while adhering to the EU-wide trading standards overseen by the European Securities & Markets Authority (ESMA).
Which Is The Best Forex Trading Platform In Spain?
The best forex platform for Spanish traders depends on individual preferences, trading experience, and budget.
DayTrading.com’s curated list of top forex brokers for Spain (which is updated regularly) is an excellent starting point, offering options suitable for both beginners and experienced traders.
For example, from our list, Eightcap is a fantastic starting point for newer traders, who can quickly get started on the WebTrader, while IG‘s extremely deep research resources and huge range of currency pairs with reliable execution will satisfy most experienced traders.
Recommended Reading
Article Sources
- Comisión Nacional del Mercado de Valores (CNMV)
- CNMV flags 14 unregistered forex firms - Finance Magnates
The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com