5 Best Forex Brokers in Spain
We list the 5 Best Forex Brokers in Spain, providing access to global currency markets through top-tier platforms, competitive spreads, and secure trading environments. These fully regulated brokers offer excellent resources, enabling Spanish traders at all levels to trade forex efficiently and confidently in a trusted setting.
5 Best Forex Brokers in Spain (2025)
- MultiBank Group – Overall, the Best Forex Broker in Spain
- AvaTrade – Licensed by the Bank of Spain and MiFID II compliant.
- Pepperstone – CNMV registration ensures compliance for Spanish traders.
- FP Markets – Well-regarded for raw ECN spreads and deep liquidity.
- BlackBull Markets – Flexible account types with high leverage outside EU rules.
Top 10 Forex Brokers (Globally)
1. MultiBank Group
MultiBank Group operates a branch in Spain under the name MEX Spain, which holds regulatory approval from the 🇪🇸 CNMV (Comisión Nacional del Mercado de Valores) as a securities agency and remittance licence. It also holds a European licence from 🇨🇾 CySEC via its subsidiary MEX Europe Ltd, allowing it to serve clients across EU member states with regulated services.
| Feature | Detail | Regulator/Country | Why It Matters |
| Local branch | MEX Spain branch office in Barcelona | 🇪🇸 CNMV approved | Local oversight, legal protection for Spanish users |
| EU-level licence | MEX Europe Ltd holds licence | 🇨🇾 CySEC | Allows cross-border services within EU under EU law |
| Service status | Some websites are not authorised | 🇪🇸 CNMV warning for multibankfx.com domain | Possible legal risk if using unapproved services |
| Client acceptance | Accepts Spain among over 90 countries | Global list including Spain | Demonstrates that the broker does accept Spanish clients (with caveats) |
 | Minimum Deposit: $50 Regulated by: ASIC, AUSTRAC, BAFIN, CIMA, ESCA, CySEC, FSC, FMA, MAS, TFG, VFSC Crypto: Yes |
Frequently Asked Questions
Can Spanish traders legally open accounts with MultiBank Group?
Yes. Because the 🇪🇸 CNMV approves MultiBank (through its branch, MEX Spain), Spanish traders can legally open accounts and use its forex services under a regulated status.
Is the CNMV warning about MultiBank valid, and what does it imply?
Yes. A recent public warning from the 🇪🇸 CNMV states that multibankfx.com cannot offer certain investment services under Spanish law, especially foreign currency transactions covered by the Securities Markets and Investment Services Act. This means that providing those services may be illegal or non-compliant unless authorised entities provide them.
| Minimum Deposit: $50 Regulated by: ASIC, AUSTRAC, BAFIN, CIMA, ESCA, CySEC, FSC, FMA, MAS, TFG, VFSC Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Fully regulated in Spain via CNMV | Some sites not authorised in Spain |
| EU licence (CySEC) allows broader legal protection | CNMV warning on certain services |
| Wide product range including forex, metals, CFDs | High leverage risks in EU |
| Offers local support and presence in Spain | Complex entity structure |
| Global reputation with multiple regulators | Must check correct entity |
Our Insights
MultiBank Group operates under regulation in Spain through its branch, MEX Spain, and also follows EU regulation via CySEC, allowing it to provide services to Spanish clients. However, the CNMV has issued warnings that some of its platforms or domains may offer unauthorised services. Traders should verify that they deal with a licensed Spanish entity to stay within legal and regulated frameworks.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐⭐ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
2. AvaTrade
AvaTrade operates under 🇮🇪 Central Bank of Ireland regulation (reference C53877) and follows the European MiFID II framework. The 🇪🇸 CNMV lists AvaTrade EU Ltd in its Official Registry of Investment Services Companies (No. 2324), allowing Spanish traders to use its Forex and CFD services legally.
| Feature | Detail | Regulator/Country | Why It Stands Out in Spain |
| Registered with CNMV | AvaTrade EU Ltd appears in official registry (No. 2324) | 🇪🇸 CNMV 🇮🇪 Ireland | Legally authorised to offer services to Spanish traders |
| EU-Regulated | Irish regulation under MiFID II | 🇮🇪 Central Bank of Ireland | Strong investor protection, alignment with European law |
| Product expansion | Plans to introduce vanilla and barrier options under new CNMV rules | 🇪🇸 Spain | Expands product choices under local regulation |
| Local presence/support | Spanish language website and resources; Madrid office planned | 🇪🇸 Spain | Better local service, compliance with CNMV transparency |
 | Minimum Deposit: $100 Regulated by: CBI, BVI, FSC, ASIC, FSCA, JFSA, FFAJ Crypto: Yes |
Frequently Asked Questions
Is AvaTrade fully authorised by the Spanish regulator to offer Forex services in Spain?
Yes. The CNMV includes AvaTrade EU Ltd in its registry (No. 2324), authorising it to provide investment services under Spanish law through its EU entity. Irish regulators supervise it, and Spain recognises this supervision under EU rules.
Does AvaTrade accept Spanish Forex traders, and are there any restrictions?
Yes. Spanish traders can open accounts with AvaTrade through its EU-regulated entity. Regulatory restrictions in Spain on advertising, leverage, and marketing CFDs apply, and AvaTrade must follow CNMV and ESMA rules. New CNMV requirements may limit or tailor some product types, such as exotic options.
| Minimum Deposit: $100 Regulated by: CBI, BVI, FSC, ASIC, FSCA, JFSA, FFAJ Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Regulated by Ireland under EU law | Some product types may be restricted in Spain |
| Listed with CNMV for Spanish clients | Advertising rules and promotions tightly controlled |
| Offers multiple platforms (MT4, MT5, proprietary) | Potentially higher costs or spreads under regulation |
| Educational tools and support in Spanish | Minor delay introducing new options based on CNMV approvals |
| Broad asset range including Forex, CFDs, options | Leverage limits and risk-controls may reduce flexibility |
Our Insights
AvaTrade regulates Spanish Forex trading through its EU entity, AvaTrade EU Ltd, under Irish regulation and lists it with the CNMV. While it accepts Spanish clients and provides legal, regulated services, traders should check product availability and follow CNMV- and ESMA-mandated restrictions to ensure full compliance.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐⭐ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
3. Pepperstone
Pepperstone operates under 🇨🇾 CySEC regulation through its EU entity, Pepperstone EU Ltd, and holds licences from multiple top regulators, including 🇬🇧 FCA, 🇦🇺 ASIC, and 🇩🇪 BaFin. It legally offers Forex and CFD trading to Spanish residents under EU/MiFID rules.
| Feature | Detail | Regulator/Country | What Makes It Stand Out in Spain |
| EU Licence | Operates via CySEC | 🇨🇾 Cyprus | Delivers regulated services across the EU including Spain |
| Multiple Regulations | Also regulated by FCA, ASIC, BaFin etc. | 🇬🇧 United Kingdom 🇦🇺 Australia 🇩🇪 Germany | Heightens credibility and compliance standards |
| Product Access | Forex, CFDs, Indices etc available under EU terms | EU regulation | Offers broad instrument access for Spanish traders |
| Warning Awareness | CNMV flagged clone domains | 🇪🇸 Spain | Emphasises the need to check for genuine entity before trading |
 | Minimum Deposit: $200 Regulated by: ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB Crypto: Yes |
Frequently Asked Questions
Is Pepperstone authorised by the Spanish regulator CNMV to offer Forex services?
Not directly. The 🇪🇸 CNMV does not regulate Pepperstone, but 🇨🇾 CySEC and other EU regulators do, allowing it to serve Spanish traders under EU laws. It operates in Spain through its EU‑licensed entity.
Does the CNMV warn about any Pepperstone‑related domains or operations?
Yes. The CNMV has issued warnings about unregistered websites impersonating Pepperstone (for example, “Pepper Stone Ltd”, pepperstoneld.com) that claim association with the brand but lack authorisation. Spanish traders should verify that they use the genuine Pepperstone EU entity.
| Minimum Deposit: $200 Regulated by: ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Regulated by CySEC and other top regulators | Not directly CNMV‑licensed |
| Broad instrument range and platforms | Some domains are clones and unauthorised |
| Strong investor protection under EU law | Leverage limits under EU rules may reduce flexibility |
| Transparent pricing and fast execution | Customer support hours may vary |
| Negative balance protection for retail clients | No local CNMV office presence |
Our Insights
Pepperstone regulates Spanish trading through its CySEC licence and operates legally under EU investor protection frameworks. While the CNMV does not directly regulate it, Pepperstone accepts clients in Spain through its EU entity. Traders should watch for clone sites or unauthorised domains claiming to be Pepperstone.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐☆☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐☆☆ |
Top 3 Forex Brokers in Spain – A Comparison
| Broker |  |  |  |
| Local Branch Presence | MEX Spain branch office in Barcelona 🇪🇸 CNMV approved | Spanish language website and Madrid office planned 🇪🇸 CNMV 🇮🇪 Ireland | No local office, operates via EU licence 🇨🇾 Cyprus |
| Regulation Licence | EU-level licence: MEX Europe Ltd holds licence 🇨🇾 CySEC | EU-Regulated under MiFID II 🇮🇪 Central Bank of Ireland; CNMV registry No. 2324 🇪🇸 | EU Licence via CySEC 🇨🇾; also FCA 🇬🇧, ASIC 🇦🇺, BaFin 🇩🇪 |
| Service Status Client Acceptance | Some websites not authorised (CNMV warning for multibankfx.com) | Legally authorised to offer services to Spanish traders; product expansion planned under CNMV rules | Broad product access under EU regulation; CNMV flagged clone domains |
| Products Instruments | Standard FX/CFD offerings | Plans to introduce vanilla and barrier options under new CNMV rules | Forex, CFDs, Indices etc. under EU regulation |
| Why It Matters Stands Out in Spain | Local oversight, legal protection for Spanish users; demonstrates client acceptance (with caveats) | Strong investor protection; compliance with local transparency; expands product choices | High credibility and compliance via multiple regulators; highlights need to verify genuine entity |
| Open an Account |  | | |
4. FP Markets
FP Markets operates under 🇨🇾 CySEC regulation through its EU entity, First Prudential Markets Ltd (CySEC Licence No. 371/18). While the 🇪🇸 CNMV does not directly regulate FP Markets, it authorises the company to offer services in Spain under EU law via its CySEC licence.
| Feature | Detail | Regulator/Country | What Makes It Stand Out in Spain |
| EU Licence | Operates via CySEC (Licence No. 371/18) | 🇨🇾 Cyprus | Legally authorised to offer services to Spanish traders |
| Multiple Regulations | Also regulated by ASIC, FSCA, FSA, FSC, SCB | 🇦🇺 Australia 🇿🇦 South Africa 🇸🇨 Seychelles 🇲🇺 Mauritius 🇧🇸 Bahamas | Heightens credibility and compliance standards |
| Product Access | Forex CFDs Indices Commodities Shares | EU regulation | Offers broad instrument access for Spanish traders |
| Warning Awareness | CNMV flagged clone domains "fpmarketstrade.com" | 🇪🇸 Spain | Emphasises the need to check for genuine entity before trading |
 | Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Crypto: Yes |
Frequently Asked Questions
Is FP Markets authorised by the Spanish regulator CNMV to offer Forex services in Spain?
No. The 🇪🇸 CNMV does not directly regulate FP Markets. However, 🇨🇾 Cyprus CySEC regulates it under MiFID II, allowing the company to legally offer services to Spanish traders through its EU entity, First Prudential Markets Ltd.
Does FP Markets accept Spanish Forex traders, and are there any restrictions?
Yes. Spanish traders can open accounts with FP Markets through its EU entity. However, they must follow 🇪🇸 CNMV and 🇪🇺 ESMA regulations, including leverage limits and product restrictions. FP Markets does not authorise services through unregulated domains like “fpmarketstrade.com”.
| Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Regulated by CySEC and other top regulators | Not directly CNMV‑licensed |
| Broad instrument range and platforms | Some domains are clones and unauthorised |
| Strong investor protection under EU law | Leverage limits under EU rules may reduce flexibility |
| Transparent pricing and fast execution | Customer support hours may vary |
| Negative balance protection for retail clients | No local CNMV office presence |
Our Insights
FP Markets regulates Spanish trading through its 🇨🇾 Cyprus CySEC licence and operates legally under EU investor protection frameworks. While the CNMV does not directly regulate it, FP Markets accepts clients in Spain through its EU entity. Traders should avoid clone sites or unauthorised domains.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐☆☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
5. Blackbull Markets
BlackBull Markets is regulated by the Financial Services Authority (FSA) in Seychelles under license number SD045. While it is not directly authorised by the 🇪🇸 CNMV, it operates legally in Spain under EU law through its Seychelles entity.
| Feature | Detail | Regulator/Country | What Makes It Stand Out in Spain |
| EU Licence | Operates under EU law via Seychelles entity | 🇪🇺 EU | Legally authorised to offer services to Spanish traders |
| Multiple Regulations | Also regulated by FSA (Seychelles) | 🇸🇨 Seychelles | Heightens credibility and compliance standards |
| Product Access | Forex CFDs Indices Commodities Shares | EU regulation | Offers broad instrument access for Spanish traders |
| Warning Awareness | CNMV flagged clone domains | 🇪🇸 Spain | Emphasises the need to check for genuine entity before trading |
 | Minimum Deposit: $0 Regulated by: FMA Crypto: Yes |
Frequently Asked Questions
Is BlackBull Markets authorised by the CNMV to offer Forex services in Spain?
No, BlackBull Markets is not directly authorised by the 🇪🇸 CNMV. However, it is regulated by the 🇸🇨 Seychelles FSA and operates legally in Spain under EU law.
Does BlackBull Markets accept Spanish Forex traders, and are there any restrictions?
Yes, Spanish traders can open accounts with BlackBull Markets. However, they must adhere to 🇪🇸 CNMV and 🇪🇺 ESMA regulations, including leverage limits and product restrictions.
| Minimum Deposit: $0 Regulated by: FMA Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Regulated by FSA (Seychelles) | Not directly CNMV‑licensed |
| Broad instrument range and platforms | Some domains are clones and unauthorised |
| Strong investor protection under EU law | Leverage limits under EU rules may reduce flexibility |
| Transparent pricing and fast execution | Customer support hours may vary |
| Negative balance protection for retail clients | No local CNMV office presence |
Our Insights
BlackBull Markets is regulated by the 🇸🇨 Seychelles FSA and operates legally in Spain under EU law. While not directly authorised by the CNMV, it accepts Spanish clients. Traders should ensure compliance with local regulations and verify the authenticity of the broker’s domain to avoid potential scams.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
5 Best Forex Brokers in Spain – Head to Head Comparison
| Strong focus on Spanish and EU clients with localized support. | |  |
 | Licensed by the Bank of Spain and MiFID II compliant. | | |
| CNMV registration ensures compliance for Spanish traders. | | |
 | MiFID compliant access for Spanish traders. | | |
 | Wide global presence with growing European footprint. | | |
Forex Trading in Spain – A Quick Overview
Forex trading in Spain is regulated to ensure investor protection and fair market practices. The 🇪🇸 CNMV (Comisión Nacional del Mercado de Valores) oversees brokers and enforces EU-wide regulations under MiFID II.
Traders can access global currency markets, but leverage, advertising, and product offerings are subject to strict rules to minimize risk. Both beginners and experienced traders must use licensed brokers to ensure legal and secure trading.
Pros and Cons of Forex Trading in Spain
| ✓ Pros | ✕ Cons |
| Legal under CNMV | Limited to licensed brokers |
| EU regulations protect traders | Leverage restrictions apply |
| Access to global currency markets | Complex tax reporting |
| Multiple broker options | Some brokers restrict products |
| Advanced trading platforms available | Risk of scams with unlicensed brokers |
You might also like:
- MultiBank Group Review
- AvaTrade Review
- Pepperstone Review
- FP Markets Review
- BlackBull Markets Review
In Conclusion
Forex trading in Spain is safe and regulated for those using authorised brokers. EU oversight ensures trader protection, but restrictions on leverage and product access may limit flexibility. Careful broker selection and compliance with CNMV rules are essential for a secure trading experience.
Faq
Yes, Forex trading is legal in Spain, but traders must use brokers authorised by the CNMV or other EU-regulated entities. Trading with unlicensed brokers is illegal and may result in loss of protection and legal recourse.
The main regulator is the CNMV, which enforces EU rules under MiFID II. It monitors broker licensing, client fund protection, and compliance with advertising and leverage restrictions.
Yes. European rules set by ESMA limit leverage for retail Forex traders. Major currency pairs are limited to 30:1, minor pairs to 20:1, and cryptocurrencies to 2:1 to reduce trader risk.
Yes, but only if they are regulated by an EU authority recognized in Spain, such as CySEC, the Central Bank of Ireland, or the FCA. Non-EU brokers generally cannot legally provide services to Spanish residents.
Traders should check the CNMV registry to confirm the broker is licensed. They should verify client fund segregation, negative balance protection, regulatory disclosures, and EU compliance to avoid scams.
