Best Online Brokers in Spain 2026
CNMV-regulated brokers in Spain — ranked by fees, platform quality and local features for Spanish investors in 2026.
✅ CNMV Regulated
🇪🇸 CNMV Regulated
📊 IBEX 35 Access
💶 Low-Fee ETFs
🔬 Tested with real accounts
🔄 Last updated: July 2026 · Reviewed by WhichBrokr Research Team
⚠️ Risk warning: Investing involves risk of loss. Capital is not guaranteed. Some links on this page are affiliate links — this does not affect our rankings.
⚡ No time to read? Our top picks for Spain
XTB — Best overall broker for European investors. Zero commission stocks & ETFs up to €100k/month.
lightyear — Commission-free stock and ETF investing for UK and EU investors, with competitive cash interest via BlackRock Money Market Funds (3.77% GBP · 3.66% USD · 1.91% EUR as of June 2026). FCA (UK) and EFSA (Estonia) regulated.
DEGIRO — Europe's lowest-cost broker for stocks & ETFs. Access to 50+ exchanges in 30 countries.
Interactive Brokers — The broker of choice for serious investors. Access to 150+ markets in 33 countries.
Top 4 Best Online Brokers in Spain — Detailed Reviews
XTB
Editor's Choice
XTB
Regulated by FCA
4.7/5
Commission
0% up to €100k/month
Best overall broker for European investors. Zero commission stocks & ETFs up to €100k/month.
LY
Best Low-Cost EU/UK
Lightyear
Regulated by FCA (UK)
4.1/5
Commission
Free (UK & EU stocks · 0.1% min $0.10 for US)
UK's leading commission-free broker with 6000+ stocks and ETFs. ISA available from £5.99/month. FCA regulated FSCS protected up to £85000.
DG
Editor's Choice
DEGIRO
Regulated by AFM
4.4/5
Commission
1 + exchange fee per trade
Europe's lowest-cost broker for stocks & ETFs. Access to 50+ exchanges in 30 countries.
IB
Best for Professionals
Interactive Brokers
Regulated by SEC
4.6/5
Commission
From $0.005/share (Pro; EU only)
Europe's lowest-cost broker for stocks & ETFs. Access to 50+ exchanges in 30 countries.
How to Get Started with Best Brokers in Spain
1
Choose a regulated platform
Pick a broker regulated by CNMV or operating under an international licence. All platforms on this page qualify.
2
Open your account
Account opening is fully online. You'll need a photo ID (passport or national ID) and proof of address. Most platforms verify within 1–2 business days.
3
Fund your account
Deposit via bank transfer (free, 1–3 days) or debit card (instant, small fee). Minimum deposits vary — most top platforms start from €0.
4
Start investing
Diversify across stocks and ETFs. Consider low-cost index ETFs for long-term growth.
🇪🇸 Spain: Country Environment Blueprint
Primary Watchdog
Comisión Nacional del Mercado de Valores (CNMV) —
www.cnmv.es
Passporting / Access
✅ Fully accepted. Any EU/EEA-regulated broker can legally serve Spain residents via MiFID II passport — no local entity required.
Regulatory Blacklist
✅ Active. CNMV publishes an active warning list (entidades no autorizadas). Check cnmv.es before depositing.
Capital Gains Tax
19–28% (progressive — Impuesto sobre la Renta de las Personas Físicas) — 19% on first €6,000 of gains; 21% on €6,001–€50,000; 23% on €50,001–€200,000; 27% on €200,001–€300,000; 28% above €300,000.
Dividend Tax
19–28% progressive (same scale as CGT).
Foreign Account Reporting
⚠️ Required. Modelo 720. Fines: €10,000 minimum per undeclared category. High-risk: this reporting requirement has caused controversy due to disproportionate fines..
Loss Carry-Forward
4 years
Plan de Pensiones
Cap: €1,500/year (individual) + €8,500 employer Tax-deductible contributions. Gains grow tax-free. Taxed as income on withdrawal.
Plan de Ahorro Sistemático (PIAS)
Cap: €8,000/year After 5 years, gains from life insurance PIAS are exempt from tax. Good for medium-term savings.
US ETF Access (PRIIPs)
⛔ US-domiciled ETFs are restricted for retail investors (PRIIPs regulation). Use UCITS equivalents: iShares CSPX, Amundi CU2, or Vanguard VWRA.
Domestic Exchanges & Indices
Bolsa de Madrid · Index: IBEX 35
Key stocks: Inditex (ITX.MC), Santander (SAN.MC), BBVA (BBVA.MC), Iberdrola (IBE.MC), Telefónica (TEF.MC)
What Spain Investors Need to Know in 2026
Spanish investors face progressive CGT rates up to 28% — higher than many EU neighbours. This makes tax-loss harvesting (selling losing positions to offset gains) particularly valuable.
Warning: Spain's Modelo 720 declaration for foreign assets over €50,000 is mandatory. Non-compliance penalties are among the harshest in Europe — now somewhat reformed after EU court criticism, but still important.
Bizum is Spain's domestic instant payment system, supported by all major Spanish banks. Ensure your broker or bank supports Bizum for local payments.
🏠 Local Platforms to Know
MYI
MyInvestor — Spain's fastest-growing online broker. Owned by Andbank. Low fees, strong ETF selection, Spanish customer support.
OCT
Openbank — Santander's digital bank and broker. Solid platform with Santander backing.
SLF
SelfBank — Long-established Spanish online broker. Good for active traders on Spanish and European markets.
ING
ING España — ING's Spanish operation. Free investment fund accounts, good savings rates.
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How we chose these platforms
Our team opened real accounts, deposited funds and tested each platform in Spain. We evaluate regulation quality, fees (commissions, spreads, FX conversion), platform usability, customer support response times and local features specific to Spain investors. Rankings are updated regularly.
Frequently Asked Questions
What is Modelo 720? +
A mandatory declaration of foreign assets (bank accounts, investments, property) above €50,000. Required by April 30 each year. Fines for non-compliance were reduced after EU criticism but remain significant.
How is CGT taxed in Spain? +
Progressive rates: 19% (first €6k), 21% (€6k–€50k), 23% (€50k–€200k), 27% (€200k–€300k), 28% (above €300k). 4-year loss carry-forward.
Can I buy US ETFs in Spain? +
No. EU PRIIPs regulation blocks US-domiciled ETFs for retail investors in Spain. Use UCITS equivalents: iShares CSPX, Vanguard VWRA.