IBEX 35

IBEX 35 brokers offer access to Spain’s most widely traded stock index which features several notable European companies. This day trading and brokerage guide covers all you need to know when investing in the IBEX 35 online, such as the different instruments available, average dividends and the list of companies that make up the index. Read on to learn about the evolution of the index, price history and strategies for the IBEX 35. We also list the top brokers with access to the IBEX 35 in 2024 and explain how to choose between trading platforms.

IBEX 35 Brokers

These are the 5 best brokers for trading on the IBEX 35:

#1 - FOREX.com

Why We Chose FOREX.com

Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

- DayTrading Review Team
  • Instruments: Forex, Spot Metals
  • Regulator: NFA, CFTC
  • Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
  • Minimum Deposit: $100
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:50

Pros

  • FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
  • The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
  • There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.

Cons

  • Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
  • Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.

#2 - Interactive Brokers

Why We Chose Interactive Brokers

Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

- DayTrading Review Team
  • Instruments: Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
  • Regulator: FCA, SEC, FINRA, CBI, CIRO, SFC, MAS, MNB
  • Platforms: Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
  • Minimum Deposit: $0
  • Minimum Trade: $100
  • Leverage: 1:50

Pros

  • With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
  • The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.
  • There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.

Cons

  • IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
  • TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
  • You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.

#3 - IG

Why We Chose IG

Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

"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."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
  • Regulator: FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA
  • Platforms: Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:250 (Pro)

Pros

  • The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
  • 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

Cons

  • While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
  • IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
  • 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

#4 - Pocket Option

Why We Chose Pocket Option

Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.

"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."

- DayTrading Review Team
  • Instruments: Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos
  • Regulator: MISA
  • Platforms: Web, MT4, MT5
  • Minimum Deposit: $50
  • Minimum Trade: $1

Pros

  • Extremely fast and smooth sign-up process that takes less than 2 minutes
  • Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks
  • The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries

Cons

  • The MISA is a weak regulator with limited investor protection for retail traders
  • You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available
  • The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month

#5 - Videforex

Why We Chose Videforex

Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.

"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."

- DayTrading Review Team
  • Instruments: Binary Options, CFDs, Forex, Indices, Commodities, Crypto
  • Platforms: TradingView
  • Minimum Deposit: $250
  • Minimum Trade: $0.01
  • Leverage: 1:500

Pros

  • Videforex regularly runs trading contests, offering great practice opportunities and cash prizes to beginners and experienced traders
  • Videforex allows you to enter positions with just ¢0.01
  • You can easily mirror the trades of experienced investors with low fees

Cons

  • The broker isn’t overseen by a trusted regulatory agency
  • No MetaTrader 4 integration
  • US clients aren’t accepted due to legal restrictions

How To Compare IBEX 35 Brokers

Consider the following factors when choosing between platforms and brokers that support IBEX 35 trading:

Instruments

As one of Europe’s most prominent regional indices, IBEX 35 brokers offer a range of instruments and vehicles.

Many financial services providers operate mutual funds that track the performance of the IBEX.

Derivative IBEX 35 tracker ETFs are also available, with inverse and leveraged options, offering trades up to 3x long and 2x short leverage on the price movements of the index.

Traders can also pick single stocks from the IBEX 35 to create their own portfolios. This may be useful for dividend investors that wish to exclude the low and zero-dividend-paying companies in the index. Note, not all brokers support IBEX 35 trading on individual stocks.

Over-the-counter products such as CFDs, spread bets and binary options also allow investors to speculate on the price movements of the IBEX 35. In addition, options and futures contracts are available from the MEFF in Spain.

Platforms

The best IBEX 35 brokers will offer industry-recognized trading platforms such as MetaTrader 5. Proprietary software and bespoke tools are also positives as brokers may provide incentives for use such as commission reductions.

Historical data, moving averages and correlation with other global indices would be good to see too. You may also want to utilize the services of brokers that offer demo profiles, which can be good to understand how trading on the IBEX 35 will fit within your wider portfolio.

Fees

Costs can make a big difference when it comes to having a successful trading career. Look out for IBEX 35 brokers with commission-free trading or tight spreads. For example, trading the Spanish stock exchange on Admiral Markets is commission-free, with a minimum deposit requirement of 100 EUR.

Other fees may include account management charges, inactivity costs or overnight rollover fees so bear this in mind when working on your profit and loss projections.

Deposits & Withdrawals

Look out for IBEX 35 brokers that work seamlessly with local deposit and withdrawal solutions. If you are a Spanish citizen, IBEX 35 brokerages and platforms that offer credit/debit cards and SEPA wire transfers may be the most appealing so you can fund a trading account and begin investing right away.

IBEX brokers with no charges, instant processing and flexible limits should be top of your list. A low minimum deposit requirement should also be a key point to look out for, particularly if you are new to retail investing.

Additional Tools

The best IBEX 35 brokers offer useful facilities such as copy trading or strategy builders. These solutions are ideal for both new and experienced investors to learn from professional traders.

Live news streams and economic calendars with the latest Spanish corporation news can also provide valuable insights to support trading decisions. Press conferences held by the European National Bank (ENB) can create significant volatility in the IBEX, for example.

What Is The IBEX 35?

The Iberian index, or IBEX 35, comprises the most liquid high market-cap companies listed on the Spanish central stock exchange, the Bolsa de Madrid. The index was incepted in 1992 and consists of 35 member companies. The best brokers that support trading on IBEX 35 provide investment opportunities on individual constituents or the index as a whole.

The index is reviewed twice annually and stocks can be relegated to or prompted from the IBEX Medium Cap index. Prominent European stocks such as Banco Santander, Siemens Gamesa, Telefonica, and Melia hotels are currently part of the index.

The MEFF offers derivatives on the IBEX 35 through options and futures contracts. At the same time, investors can also speculate on the IBEX through other derivative instruments such as tracker ETFs and CFDs. Our list of the top IBEX 35 brokers offer a mix of leveraged CFDs and ETFs.

Price Determinants

Several significant factors can have a measurable impact on the performance of the IBEX:

Single Stock Performance

Due to its small size, major changes in the performance of a highly weighted stock can significantly affect the overall IBEX 35 price. This leaves retail investors more exposed to individual stock fluctuations than in a more extensive index such as the FTSE 100 or S&P 500.

Global Economy

As one of the prominent European indices, changes in the global economic outlook have a knock-on effect on the IBEX 35. Often through no individual failings or achievements of the constituent companies themselves, indices will move on global market sentiment.

For example, the most significant IBEX 35 historical price movements were recorded during the 2007-8 financial crisis, with a one-day percentage fall of 7.5% on 1st January 2008, followed by a 6.95% rise on 4th January 2008.

More recently, the knock-on impacts of the 2022 Ukraine-Russia war have caused the IBEX to fall significantly, as shown in the chart below.

IBEX 35 brokers and forecasts
IBEX 35 Price Chart – YTD

Value Of The Euro

The value of the Euro compared to other major global currencies such as GBP and USD will also affect the valued of the IBEX 35 today.

A stronger Euro will tend to mean an increase in the share prices of leading European stocks, of which there are several in the high-market-cap-weighted IBEX 35, such as Inditex.

Major Sector Performance

The IBEX 35 can be heavily exposed to specific market areas as many of its stocks operate within the same sector.

One example is banking, with Banco Santander, BBVA, Sabadell and Bankinter all included within the index. Another is energy, Endesa, Naturgy and Repsol are among the six total energy stocks within the IBEX.

Local Economy

The performance of the local economy in Spain also significantly impacts its leading exchanges. While almost all of the companies within the IBEX 35 operate internationally, a solid or weak home economy will have implications for its most prominent stocks.

The country has also historically suffered from high unemployment, affecting the index’s outlook and the nation’s trading economics.

Price & Performance

As you will see at IBEX 35 brokers, the price today differs depending on the market traded. The spot price of the index is separate from the futures price for different expiry times. These prices will further differ from the total return price, which considers the dividends paid to investors each year the index has existed.

The highest historical price of the IBEX 35 to date was €16,040.40 on 9th November 2007. Conversely, the lowest historical value of the index occurred on 5th October 1992, when the IBEX 35 hit €1,861.90.

The IBEX never fully recovered from the 2007-8 financial crash and has not reached close to its 2007 all-time high, finding steadfast resistance at around the €12,000 price point in the last 15 years.

Analysis of trading graphs can reveal further significant price points in the IBEX 35 market history.

Dividends

Several high dividend-yield companies within the IBEX 35 include Merlin Properties, Mapfre, BBVA and ACS. However, these are balanced by several companies that do not pay dividends to their shareholders, such as Melia Hotels, ArcelorMittal and IAG.

These results combine for an average return of between 1% and 4% dividend per year in recent history. This poor dividend yield means traders who wish to specialize in dividend stock indices should look to the IBEX Top Dividendo. This index includes several of the high dividend yield stocks of the IBEX 35.

IBEX 35 Members

Here are all of the companies currently listed within the IBEX 35, along with their market sectors:

  • Acciona (ANA)– Construction
  • Acerinox (ACX)– Steel manufacturing
  • ACS Group (ACS)– Construction
  • Aena (AENA)– Aviation
  • Amadeus IT Group (AMS)– Tourism
  • ArcelorMittal (MTS)– Steel manufacturing
  • Banco Sabadell (SAB)– Financial services
  • Bankinter (BKT)– Financial services
  • BBVA (BBVA)– Financial services
  • CaixaBank (CABK)– Financial services
  • Cellnex Telecom (CLNX)– Financial services
  • Enagás (ENG)– Natural Gas
  • Endsea (ELE)– Electricity
  • Ferrovial (FER)– Infrastructure
  • Fluidra (FDR)– Industrials
  • Grifols (GRF)– Phrarmacetuicals
  • IAG (IAG)– Aviation
  • Iberdrola (IBE)– Electricity
  • Inditex (ITX)– Fashion
  • Indra (IDR)– IT services
  • Inmobiliaria Colonial (COL)– Housing
  • Laboratorios Rovi (ROVI)– Pharmaceuticals
  • Mapfre (MAP)– Insurance
  • Meliá Hotels (MEL)– Tourism
  • Merlin Properties (MRL)– Housing
  • Naturgy (NTGY)– Natural Gas
  • PharmaMar (PHM)– Pharmaceuticals
  • Red Eléctrica (REE)– Electricity
  • Repsol (REP)– Oil and Gas
  • Banco Santander (SAN)– Financial services
  • Siemens Gamesa (REE)– Renewable energy
  • Solaria (SLR)– Renewable energy
  • Telefónica (TEF)– Telecommunications

IBEX 35 Strategies

Regarding strategies, every investor should have their own approach based on careful analysis and individual opinions. However, our experts have put together a few basic recommendations to give you some ideas:

News

The trader that can react quickly and correctly to emerging market news is one step ahead of the game. When trading the IBEX 35, traders should look out for regional news.

These include announcements from Spain’s major banks or the European central bank (ECB) as well as company or sector-specific news today. Investors can use this information to create profitable trades using a variety of instruments or cash out of or hedge existing positions.

For the short-term but volatile changes caused by significant news, our experts forecast that day-trading-suited instruments such as leveraged CFDs and ETFs are good choices.

Note, the best IBEX 35 brokers offer integrated newstreams and push notifications to stay up to date with important announcements.

Scalping

During periods of high economic volatility, traders can take advantage of tumultuous market conditions to make quick profits by scalping. In this strategy, traders are looking to quickly flip assets for profit based on price discrepancies between providers rather than carry positions to expiry.

Note, not all IBEX 35 brokers permit scalping strategies on their platforms.

Hedging

Some instruments, such as mutual funds, spread bets and binary options, can be difficult or impossible to cash out quickly to take early profits or reduce risk. This is where hedging comes in.

Investors can take opposing positions using a variety of instruments, including single stock investing, ETFs, CFDs and futures to hedge their existing positions.

Dividend Investing

Dividend investing is a strategy made popular by famous investors such as Warren Buffet and his mentor, Benjamin Graham. This is a largely passive and hands-off form of investment that can earn traders a reliable income even through unfavorable market conditions.

For the IBEX 35, investors may wish to individually invest in several high dividend-paying stocks rather than the index as a whole. This helps significantly increase the dividend yield of the investment. Alternatively, investors can look at a similar dividend-focus index, the IBEX Top Dividendo.

Opening Hours

The IBEX 35 trading hours are from 9:00 am CEST to 5:30 pm CEST from Monday to Friday, excluding market holidays such as Christmas and New Year’s Day.

However, IBEX 35 futures hours are slightly different and follow the MEFF opening hours. Investors can trade IBEX 35 futures from 8:00 am CEST to 8:00 pm CEST Monday to Friday.

It’s also worth checking the opening times of IBEX 35 brokers to make sure they offer market and platform access at the times you wish to trade.

Final Word On IBEX 35 Brokers

Brokers with access to the IBEX 35 expose investors to Spain’s most liquid and high market cap listed companies. In addition, the index offers significant exposure to the financial services industry through highly weighted stocks such as BBVA, Banco Santander and CaixaBank. Importantly, many instruments are available for day trading, swing trading and investing in the IBEX 35, such as futures, ETFs and CFDs.

Head to our list of the best IBEX 35 brokers to get started.

FAQs

What Is IBEX 35 Trading?

The IBEX 35 is an index comprising 35 of the highest market-cap companies that are listed on the Bolsa de Madrid. The top brokers that support trading on the IBEX 35 offer leveraged CFDs or direct stock dealing on individual firms.

Is The IBEX 35 Due An Expansion?

There are no plans to extend the IBEX 35 past the top 35 stocks currently represented. However, this index is highly liquid and updated twice annually to reflect changing market conditions. Retail traders may want to keep an eye on new entrants and those firms expected to fall out of the index to capitalize on market opportunities.

When Are The Next IBEX 35 Dividends?

Dividends for IBEX 35 stocks occur throughout the year and are paid out to investors upon these individual dates. The best IBEX 35 brokerages offer economic calendars and dividend schedules, alongside technical analysis tools and historical data.

Is Trading The IBEX 35 Possible In Dollars?

Several instruments allow traders to invest in or speculate on the IBEX 35 in dollars. These include ETFs, mutual funds, CFDs and binary options. Check which vehicles IBEX 35 brokers offer before creating an account and depositing funds.

Where Is The IBEX 35 From?

The IBEX 35 consists of companies listed on the Spanish exchange – the Bolsa de Madrid. However, some companies, such as IAG and ArcelorMittal, are headquartered elsewhere.