If you are interested in investing and making money in forex trading, this article is for you. Here we will tell you about the best Spanish Forex brokers. In addition, we will not only list each broker, but you will also find out which broker is the most popular and recommended for you based on your online trading experience.
Best CFD Brokers
There are several criteria to evaluate when choosing the best brokers. Below you will find the most important ones:
- Quality of services and products offered.
- Consider your reputation.
- Commission and additional costs.
- Types of investment.
According to these criteria we will tell you which are the best CFD brokers.
- Plus 500Gained popularity for its sponsorship of Atletico Madrid. It has a higher leverage because it is governed by Australian regulations (ASIC)¹. This broker does not charge commissions and does not have a minimum investment.
- XTBThis is another one of the best CFD brokers. It is internationally regulated and has a lot of investment instruments.
- eToroIt is a very popular online broker that is more expensive than the others. However, this is because it provides additional services and is the best in social trading.
- IGIt is a very large broker and has 16 offices. At the same time, its number of assets to invest is huge, exceeding 15,000.
Other brokers in the top 10 are Activtrades, Admiral Markets, XM, Libertex, Trade.com and Fortrade.
Best binary options brokers
Criteria for selecting a good binary options broker:
- Good regulation.
- Protection for the funds.
- Free trial account.
- Small minimum deposit amount.
- Efficiency of the platform for trading and analysis tools.
- Speed of operations.
- Technical support in several languages.
Best binary options brokers:
- IQ option: One of the best binary options brokers. This popular online broker is also one of the best Forex brokers. In terms of currencies, it allows trading with more than 30 pairs. It is a fast-growing broker that provides services in 36 countries.
- Deriv.com: Another one of the best binary options brokers. A popular online broker. It is a regulated broker that offers financial security to its clients.
Also, among the best binary options brokers are Binomo, Expert Option, Pocket Option and Binarium.
Best brokers for beginners
Criteria for selecting a good broker if you are a beginner:
- You want your trading platform to be easy to understand.
- Free demo account so you can practice.
- It is important that you have the option to start with a small deposit.
- Variety of investment instruments.
- Free training. ²
Now, according to these criteria, one of the best brokers for beginners is IQ Option. It offers an unlimited trial account, a very intuitive app and you can also make an initial deposit from 10 euros.
Then there is XTB, one of the best Forex brokers. It provides an excellent customer service in English. It also provides free webinars and over 3000 investment options.
There is also ActivTrader, whose demo account is free and there is no minimum amount for the initial deposit.
On the other hand, among the best brokers for beginners is XM, which offers interesting promotions.
Then eToro, Pepperstone and Avatrade. The latter is a popular online broker with excellent international regulation. Here the minimum deposit is 100 euros.
Best brokers for experienced people
In order to consider the best brokers for experts it is important to consider the following points:
- Platform with functions for professionals: Metatrader5, Mt4 and cTrader.
- Mechanisms to automate trading.
- Evaluate whether it really makes sense to start trading with a broker without a dealing desk.
- If you use Hedging and Scalping you should look for a broker that has these strategies.
If we analyze on this basis, we can conclude that FxPro is one of the best retail Forex brokers without a dealing desk. For this reason, the spreads are generally very competitive. It is supported by Metatrader 4, Metatrader 5 and cTrader platforms. In addition you have several types of trading accounts so you can choose the one that suits you best. Other relevant advantages are that you do not have expenses to maintain your account and you can have 24 hs attention from Monday to Friday.
Also, one of the best brokers for experts is eToro which offers an original and authentic social trading platform. Then there is XM which allows you to trade via Metatrader 4 and from the pc via Trader Mt4.
Then there is Binary.com which has platforms for binary options and others for CFDs. The platform available for trading is Mt5 and for binary options it offers a robot to automate your trades.
Depending on the features you are looking for, with this data you can determine which are the best Spanish Forex brokers for you. If you are a beginner, IQ Option. On the other hand, if you are experienced or want to pay lower commissions, FxPro is your best option.
¹ ASIC: Australian Securities and Investments Commission.
² Nowadays many brokers offer free educational material in English. If you are a beginner this could be a great help to continue learning.