Best forex brokers in Spain

Broker Country Rating Min. Deposit Website
UK, Cyprus, Australia4.98/5$5Click for a special offerWebsite
US4.95/5$50Click for a special offerWebsite
Australia4.90/5$100Click for a special offerWebsite
UK, Australia4.85/5$50Click for a special offerWebsite

Spain is another European country with flourishing retail forex and CFD market and the regulator that oversees it, as well as the financial markets in the country as a whole, is the Comision Nacional del Mercado de Valores (CNMV) or the National Securities Market Commission.

This is a government agency responsible for the financial regulation of the securities markets in Spain, which operates under the Ministry of Economy in Madrid. Its main function is to ensure stability and transparency of the financial markets, protect investors and make sure that brokers and intermediaries behave honestly.

All financial companies, on the primary market and secondary markets, as well as all companies providing investment services and collective investment institutions fall under the jurisdiction of CNMV.

CNMV also operates under the pan European Markets in Financial Instruments Directive (MiFID), which among others, specifies certain uniform rules for all forex and CFD brokers, providing services in EU.

Under those rules brokers are obliged to provide a negative balance protection to their clients, to keep all deposited funds in a segregated, trust account, to maintain a minimum operational capital of at least 730 000 EUR, to refrain form offering trading bonuses, to offer leverage no higher than 30:1 and to allow external audits.

In addition to those requirements, since March 2017 CNMV requires all forex and CFD brokers, offering leverage higher than 10:1, to include additional risk warnings for their clients, displayed every time a trader opens an order or a position.

Also CNMV requires brokers to evaluate every client’s suitability for trading such instruments and in case a client is unable to pass a certain test, he or she would have to sign a statement, acknowledging that he or she does not understand that trading instrument.

Under the MiFI Directive all brokers with licenses from other EU regulators are permitted to provide services in Spain.

 

Forex news from Spain

Spain’s CNMV warns on EmpireOption binary options broker

Spain’s regulatory body, the  Comision Nacional del Mercado de Valores (CNMV) published a warning on the binary options broker EmpireOption. The Commission

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Spain’s CNMV warns against unauthorized brokers Financika, BKTrading, Safeklik

The Comision Nacional del Mercado de Valores (CNMV), the financial regulatory body of Spain, added on Monday unauthorized binary options brokers BKTrading

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Spain’s CNMV warns against unauthorized forex, binary options brokers FX Marker, Imperial Options

The Spanish financial regulator, the Comision Nacional del Mercado de Valores (CNMV), issued on Monday warning notices against unauthorized entities Green Investment

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