Best Trading Platforms, Brokers & Apps in Spain 2020

By combining 160,000+ user reviews, our personal trading experience, and hundreds of hours of research, we want to help you find the best online broker in Spain, 2020.

Which is the Best Trading Platform in Spain?

CMC Markets

CMC Markets is a global trading service based in the UK but with customers and offices all around the globe.

A combination of great trading tools, tons of assets, and long experience in the industry make CMC Markets an excellent choice for most traders.

What we like

Huge selection of assets

Well-established broker

Top-notch trading platform

What we don't like

Complicated registration

High spread on stocks

Fees on many transactions

Huge selection of assets

Well-established broker

Top-notch trading platform

Complicated registration

High spread on stocks

Fees on many transactions

Features

Fees: 0 commission on FX and CFDs
Demo Account: Yes
Min Deposit: Zero
Assets: 10,000+
License: CySEC, FCA, ASIC

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

4 users gave the score of 4.5/5
Total score:
star-full star-full star-full star-full star-empty

3,005 users gave the score of 4.08/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

CMC Markets is a multi-asset online broker providing access to thousands of assets in several asset classes, such as stocks, commodities, cryptocurrencies, and  forex

Moreover, CMC Markets has nearly 100,000 active customers, with most of them based in the European Union and the United Kingdom.

The main reason why we consider CMC Markets to be the best trading platform in Spain is because they offer a combination of MT4 and their own advanced platform called Next Generation.

Naturally, these platforms are available both on desktop and mobile devices.

With all that being said, we do prefer brokers that also offer DMA (Direct Market Access) trading and we do think that CMC Markets’ fees and spread are a bit too high. So, even though CMC Markets is the best platform right now, there are things that can be improved.

Which is the Best Trading App in Spain?

AvaTrade

AvaTrade represents the top tier of online brokers.

With a combination of their own software and third-party platforms, you'll gain access to some of the best trading services and features.

What we like

Easily integrated trading robots

Commission-free trading

What we don't like

A limited selection of assets

Rather high spread on certain assets

Easily integrated trading robots

Commission-free trading

A limited selection of assets

Rather high spread on certain assets

Features

Fees: 0% commission but spread on each trade
Demo Account: Yes
Min Deposit: £100
Deposit Options: Debit & Credit Cards, Skrill, Neteller, Webmoney
Assets: 1,000 assets
License: Central Bank of Ireland, ASIC, FSCA, FSA

Ratings:
star-full star-full star-full star-full star-half

Rating by our editorial team

4 users gave the score of 4.8/5
Total score:
star-full star-full star-full star-full star-half

6,742 users gave the score of 4.55/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

AvaTrade has put a lot of effort into developing a mobile trading platform called AvaTradeGo and it’s currently one of the leading mobile trading apps in Spain. With well over a 100,000 downloads and close to a 5-star rating on Google Play, it’s obvious that many agree about the quality of this broker.

AvaTradeGo is especially well-suited for traders who like automated trading and trading robots, but it can also be used to trade regularly.

Unfortunately, AvaTrade has a very limited selection of assets, meaning if you prefer to have a lot of choice, then there are better brokers out there for you. Also, all the automated trading features can get a bit overkill.

Which is the Best Stock Broker in Spain?

IG Markets

IG Markets is one of the oldest and biggest online brokers in the world.

This UK-based broker has been offering trading opportunities since the early 1970s.

Still to this day, IG Markets keeps trail blazing the industry and setting the standard for all other online brokers.

What we like

Real stock trading of the exchanges

Huge selection of international stocks.

What we don't like

High minimum deposit.

Commission on spread betting and CFD stock trading.

Real stock trading of the exchanges

Huge selection of international stocks.

High minimum deposit.

Commission on spread betting and CFD stock trading.

Features

Fees: Low spread & commission.
Demo Account: Yes
Min Deposit: £300
Deposit Options: Visa, Mastercard, PayPal, Bank Transfer
Assets: 10,000+
License: FCA, ASIC, CFTC, MAS

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

6 users gave the score of 4.7/5
Total score:
star-full star-full star-full star-full star-empty

24,118 users gave the score of 4.13/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

IG Markets is a legendary broker in the European online trading sector, and indeed the best stockbroker in Spain at the moment.

According to official data from June 2020, IG Markets is the biggest CFD broker in the world, based on revenue.

Besides a great selection of platforms, trading tools graphs, alarms, and market updates, IG Markets provides its customers with access to over 17,000 assets in more than 10 different asset classes.

Better yet, you can choose to trade CFDs and forex, trade off exchange books using the DMA feature, or even try your luck with some spread betting.

Just keep in mind that IG Markets is a well-established broker with a large clientele of professional traders, meaning this broker is not great for beginners. You should also expect to pay a rather high spread in most positions.

Which is the Best Forex Broker in Spain?

Plus500

When you trade with Plus500's app, you will be using the highest-ranked trading app for both Android and iOS.

You will also gain access to some of the world's best mobile trading features and a great selection of asset classes.

What we like

Easy to use mobile software

Competitive spread

Top rated in both app stores

What we don't like

Commission on stock trading

Limited monthly transactions

Only 2,200 assets on offer

Easy to use mobile software

Competitive spread

Top rated in both app stores

Commission on stock trading

Limited monthly transactions

Only 2,200 assets on offer

Features

Fees: 0% commission, except stocks.
Demo Account: Yes
Min Deposit: £100
Assets: 2,000+
License: FCA, CySEC, ASIC, FSCA, MAS

Ratings:
star-full star-full star-full star-full star-half

Rating by our editorial team

12 users gave the score of 4.6/5
Total score:
star-full star-full star-full star-full star-empty

95,254 users gave the score of 4.05/5

76,4% of retail CFD accounts lose money. Plus500 has been named the best CFD provider in the UK, Spain, and Germany by the Investment Trends 2019 Leverage Trading Report in the UK and Spain. In 2018, Plus500 was named the best CFD mobile platform by the Investment Trends 2018 Australia CFD report.

Plus500 has been spearheading the online trading industry for several years, working to establish themselves as one of the best CFD brokers in Spain and the rest of Europe.

With more than 60 different currency pairs on offer and one of our favourite trading platforms, this broker offers everything you need to succeed as a forex trader.

Plus500 is also the highest-ranking broker in both the Google Play Store and the App Store, effectively making it the best forex app in Spain as well.

Now, Plus500 only offers 2,000 assets in total, which is a lot less than most other brokers, and they do charge commission for stock trading.

Also, unlike many other brokers, Plus500 has restrictions on how many transactions you can do to and from your account each month.

Which is the Best Trading Platform for Beginners in Spain?

eToro

No online broker does copy trading like eToro.

You can choose to trade on your own or copy other traders, and the social trading network is the perfect place to share experiences and learn new skills from other traders from all over the world.

What we like

Copy trading for convenience.

Fantastic app that runs smoothly on Android and iOS.

What we don't like

Commission of CFD stocks.

High minimum deposit

Copy trading for convenience.

Fantastic app that runs smoothly on Android and iOS.

Commission of CFD stocks.

High minimum deposit

Features

Fees: 0% commission on stocks, although not on stock CFDs.
Demo Account: Yes
Min Deposit: £200
Assets: Hundreds of stocks.
Deposit Options: Credit/Debit Cards, Skrill, Neteller, PayPal, Wire, Rapid Transfer
License: FCA, CySEC, ASIC

Ratings:
star-full star-full star-full star-full star-full

Rating by our editorial team

10 users gave the score of 4.7/5
Total score:
star-full star-full star-full star-full star-empty

50,461 users gave the score of 3.75/5

75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Learning how to analyse a market and place successful traders is not easy and it requires a lot of practice.

Luckily, eToro, which is one of the best forex brokers in Spain, and its copy trading platform eliminates some of these needs, making it much easier to start trading as a beginner.

By using the copy trading feature, eToro allows you to browse a range of professional traders that you can copy, thus erasing the need for much of the analytic work. eToro also has a social trading network where you can interact with and learn from other traders around the world.

Just keep in mind that eToro has a rather high minimum deposit that might not suit a beginner’s budget. Moreover, this broker is known for having high spread, commission, and non-trading fees.

Trading Guide for Traders in Spain

We always prioritise the safety of our readers and really emphasize the importance of only using regulated and licensed brokers.

Luckily, with Spain being a member of the European Union, there are strict trading laws in place which oversee that market and all the available brokers.

Generally speaking, two regulatory bodies are safe-keeping all CFD and forex trading in the EU:

Furthermore, Banco de España (the Bank of Spain) is tasked with regulating banks and other financial institutions in the country.

In other words, our number one tip for Spanish traders is to only use regulated brokers with a license from CySEC or the FCA.

Note: there is one exception to this rule and that is AvaTrade, which is regulated by the Central Bank of Ireland.

How to Choose the Best Platform, Broker and App in Spain

Finding the best online broker in Spain for your specific needs requires quite a lot of research and testing. However, if you want to avoid most of that work, we suggest you stick with our recommendations above.

If you, for any reason, still want to find a broker on your own, you need to consider the following:

  1. Is the broker offering the assets you want to trade?
  2. Does the broker fit your trading budget?
  3. Do you feel comfortable using the broker? (Using a demo account, you can test each recommended broker?).
  4. Do you still believe that the broker is a good fit after reading our comprehensive broker reviews?

By using our recommendations and the four steps above, you can rest assured that you will find the perfect broker in Spain.

How Do I Start to Trade in Spain?

Firstly, you need to find a broker that you can trade with. This is best done using all the tips we’ve provided above.

Secondly, you must learn the skills needed to trade efficiently. All the best brokers in Spain offer educational material – often in Spanish. Additionally, there is a never-ending supply of fantastic trading guides, books, courses, and movies available.

Is Day Trading Legal in Spain?

Yes, day trading is legal in Spain and regulated according to the EU’s strict trading and investment laws.

As mentioned earlier, the Spanish trading market is regulated by the European Union in collaboration with Bank of Spain.

Do Traders Pay Tax in Spain?

Yes, all traders based in Spain are obligated to pay taxes on their profits.

To ensure that you’re paying the right amount of tax, we advise you to contact Agencia Estatal de Administración Tributaria (AEAT) or your local tax office.

Can You Trade U.S. Stocks in Spain?

Yes, most stockbrokers, including the best stockbroker in Spain, offer access to the North American stock market, with securities listed on Nasdaq, the NYSE, etc.

FAQs:

Where Can I Trade Forex in Spain?

We suggest you open an account with the best forex broker in Spain, ie. Plus500.

With that being said, there are several amazing online forex brokers in Spain and you can use any one that you see fit, as long as they’re licensed and regulated.

What Time Does the Forex Market Open in Spain?

Since the foreign exchange market is global and decentralized, it is technically possible to trade forex around the clock, Monday through Friday.

However, locally, the forex market is open during regular business hours in Spain.

How Can I Invest in Spain with Little Money?

All of the brokers that we’ve recommended in this guide have rather low minimum deposit requirements.

In turn, that means you can register an account with any of the brokers and start investing with little money.

How Can I Open a Trading Account in Spain?

After you’ve found a suitable broker, opening a trading account in Spain is easy.

All you have to do is visit the broker in question and click the registration link. Then you provide the broker with your personal information such as your name, address, etc.

Before you get full access to any broker in Spain, you have to verify your identity by providing copies of your ID and a recent utility bill.

Can Foreigners Buy Stock in Spain?

Yes, there are several brokers – both local and international – that offer access to Spanish stocks listed on either Bolsa de Madrid or one of the three other Spanish stock exchanges.

Conclusion

By now, you should have all the tools you need to find the best broker or platform in Spain, 2020.

Just don’t forget that the best broker for you might not be the best broker for someone else. That’s why finding a broker is something you should do on your own, with help from professionals like us.

Note: Don’t hesitate to leave a comment below in case you have any questions regarding trading apps, safety, day trading, investments, financial systems, or anything else that might come to mind while spending time on our website. We promise to answer you as soon as possible.

Trading Platforms, Brokers & Apps That We Tested:

  • eToro
  • Markets.com
  • 24Option
  • IQ Option
  • BDSwiss
  • HotForex
  • Trade.com
  • Libertex
  • Plus500
  • XTB
  • InstaForex
  • IG Markets
  • GKFX
  • LionsFX
  • Valutrades
  • XM
  • IronFX
  • Blackwellglobal
  • FPMarkets
  • AmanaCapital
  • Admiralmarkets
  • Alvexo
  • Bizintra
  • Pepperstone
  • Windsorbrokers
  • FXPro
  • ForexTime
  • HYCM
  • FXGrow
  • TeleTrade
  • Trader.online
  • Marketscube
  • Finmaxbo
  • FXCC
  • Oanda
  • Forex.com
  • LCG
  • CMC Markets
  • FXCM
  • iForex
  • IFC Markets
  • Aaatrade

Is Trading Allowed In My Country?

CFD Regulation Country by Country. The CFD trading services we are listing in this article are available in the following countries.

Europe:

  • Albania
  • Bosnia & Herzegovina
  • Bulgaria
  • Croatia
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Hungary
  • Iceland
  • Ireland
  • Italy
  • Kosovo
  • Latvia
  • Lithuania
  • Macedonia
  • Malta
  • Moldova
  • Montenegro
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Romania
  • Russia
  • Serbia
  • Slovenia
  • Spain
  • Sweden
  • Switzerland
  • Turkey
  • Ukraine
  • United Kingdom

Excluded: Belgium

North America

  • Belize
  • Canada
  • Costa Rica
  • Cuba
  • Guatemala
  • Honduras
  • Jamaica
  • Mexico
  • Nicaragua
  • Panama
  • Puerto Rico
  • The Bahamas

Excluded: United States

South America

  • Argentina
  • Bolivia
  • Chile
  • Colombia
  • Dominican Republic
  • Ecuador
  • Guyana
  • Paraguay
  • Peru
  • Suriname
  • Uruguay
  • Venezuela

Excluded: Brazil

Africa

  • Algeria
  • Angola
  • Benin
  • Botswana
  • Burkina Faso
  • Burundi
  • Cameroon
  • Central African Republic
  • Chad
  • Democratic Republic of Congo
  • Egypt
  • Eritrea
  • Ethiopia
  • Gabon
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Kenya
  • Lesotho
  • Liberia
  • Libya
  • Madagascar
  • Malawi
  • Mali
  • Mauritania
  • Morocco
  • Mozambique
  • Namibia
  • Niger
  • Nigeria
  • Republic of the Congo
  • Rwanda
  • Sierra Leone
  • Somalia
  • South Africa
  • South Sudan
  • Sudan
  • Swaziland
  • Tanzania
  • The Ivory Coast
  • Togo
  • Tunisia
  • Tunisia
  • Uganda
  • Western Sahara
  • Zambia
  • Zimbabwe

Middle East

  • Georgia
  • Armenia
  • Azerbaijan
  • Iran
  • Iraq
  • Syria
  • Lebanon
  • Cyprus
  • Israel
  • Jordan
  • Saudi Arabia
  • Kuwait
  • Bahrain
  • Qatar
  • United Arab Emirates
  • Oman
  • Yemen

Asia

  • Afghanistan
  • Bangladesh
  • Cambodia
  • China
  • China
  • India
  • Indonesia
  • Japan
  • Kazakstan
  • Kirgizistan
  • Laos
  • Malaysia
  • Mongolia
  • Myanmar
  • North Korea
  • Pakistan
  • Papua New Guinea
  • Philippines
  • Singapore
  • South Korea
  • Sri Lanka
  • Thailand
  • Turkmenistan
  • Uzbekistan
  • Vietnam

Excluded: Hong Kong

Oceania:

Our Author:

Our editorAdam Jarfjord is a Swedish day trader, investor, and copywriter. He works as head of content at BullMarketz.com and has been providing editorial content within the financial sector for more than 5 years.

Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team.

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