In order to trade successfully, it is very important to choose the right broker. in Spain, a large number of companies provide access to trading and you will have to choose the one for you among them. It is important to work only with reliable brokers providing all the required instruments for trading based on your trading strategy. TU analysts have selected the best forex cent account brokers for beginners in Spain 2024. You can compare their features and trading conditions.
1
RoboForex - Best for beginners in Spain
RoboForex is a well-established brokerage company offering a broad spectrum of trading opportunities for active traders and investors alike. With an impressive selection of over 12,000 financial instruments - including currency pairs, CFDs on stocks, indices, metals, energies, and futures - RoboForex provides a versatile trading environment.
The broker boasts competitive trading conditions: tight spreads starting from 0 pips, high leverage up to 1:2000, and fast execution speeds. The broker also offers the CopyFx investment program, which allows traders to copy the strategies of successful investors and earn passive income. Additional perks include instant fund withdrawals and some of the industry’s highest affiliate payments (up to 84%).
RoboForex prioritizes reliability and client satisfaction, establishing itself as a trusted partner for traders worldwide.
👍 Advantages of trading with RoboForex for traders from Spain:
•Availability of favorable trading conditions and a minimum deposit
•Unique investment program CopyFx
•Highest affiliate payments: up to 84% of the fee paid by the referral
•Market launch - STP and ECN
•Instant withdrawal of funds
•Minimum deposit - $10
👎 Disadvantages of RoboForex for traders from Spain:
•A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime
•Lack of tools when trading on the R StocksTrader platform
2
FBS - Best for beginners in Spain
FBS is an international broker with a strong presence in Asia, offering a wide range of trading instruments including Forex, stocks, indices, energies, and metals. With over 90 international awards and 27 million clients across 150 countries, FBS boasts a strong global reputation.
The company provides flexible trading conditions: leverage up to 1:3000, floating spreads from 0.7 pips, commission-free trading, and fast execution speeds starting at 0.01 seconds. FBS ensures client security with negative balance protection and offers a user-friendly experience on familiar trading platforms.
While FBS doesn't currently offer cryptocurrency trading or passive income options like PAMM accounts and copy trading, its competitive conditions and extensive educational resources make it a compelling choice for traders seeking a comprehensive and accessible experience.
👍 Advantages of trading with FBS for traders from Spain:
•negative balance protection;
•a large selection of trading instruments;
•the support service works 24/7.
👎 Disadvantages of FBS for traders from Spain:
•no cryptocurrency;
•auto copying is not available;
•no PAMM accounts;
•not suitable for short-term trading, such as scalping;
•the support service works in a limited number of languages;
•only two real accounts.
3
IronFX - Best for beginners in Spain
IronFX was launched in January 2010 by a team of specialists in finance and software development. Today, IronFX has grown to be among the industry leaders that provide online trading services globally. Customers can use the MT4 advanced trading platforms and trade more than 300 tools from 6 various asset classes. IronFX serves individual as well as corporate clients from over 180 countries. IronFX is highly valued for providing cutting-edge technological innovation on trading platforms and trading tools.
👍 Advantages of trading with IronFX for traders from Spain:
•round-the-clock communication with a multilingual support TEAM on weekdays;
•wide range of trading assets;
👎 Disadvantages of IronFX for traders from Spain:
•the verification procedure can be repeated;
4
Grand Capital Ltd. - Best for beginners in Spain
Founded in 2006, the Grand Capital broker delivers a full range of brokerage services, including cryptocurrency and futures trading. The company was one of the first to offer Copytrading services and Investment portfolio for passive investing and provide direct access to the largest liquidity aggregator. Traders’ money is insured by the Financial Commission, which guarantees up to 20,000 EUR coverage for every client.
👍 Advantages of trading with Grand Capital Ltd. for traders from Spain:
•direct access to Currenex, which ensures faster execution of orders in ECN accounts and relatively tight spreads;
•segregated accounts and up to 20,000 EUR insurance coverage for every client;
•platforms for passive investing.
👎 Disadvantages of Grand Capital Ltd. for traders from Spain:
•offshore regulation;
•fees apply on almost all account types;
•withdrawal fees apply;
•no demo accounts for cryptocurrencies;
•support service works slowly.
5
AximTrade - Best for beginners in Spain
AximTrade is duly regulated by the ASIC ( AFS № 435746) and SVGFSA ( 328 LLC 2020). AximTrade has built a good name globally thanks to unparalleled services, cutting-edge solutions, and highly competitive trading conditions. AximTrade has won four Global Forex Awards 2021. It is also the official partner of Alfa Romeo F1 Team ORLEN 2022. With AximTrade, customers can operate in a friendly environment and get access to trade currency pairs, indices, stocks, cryptocurrencies, oil and gold.
👍 Advantages of trading with AximTrade for traders from Spain:
•Regulated and globally recognized forex broker.
•The low entry threshold for starting trading is $1 for cent and standard accounts and $50 for ECNs.
•Tight spreads on all account types and average commissions per lot on ECN accounts in the brokerage market.
•High leverage up to 1:Infinite.
•The ability to deposit and withdraw funds using electronic payment systems and in cryptocurrency.
•The existence of a social trading platform that allows you to receive additional income for both investors and experienced traders.
•Free access to the popular MT4 trading platform.
👎 Disadvantages of AximTrade for traders from Spain:
•An account with the broker cannot be opened by traders from several countries, including the United States, Great Britain, and Canada.
•The web terminal is not available to clients.
TOP 5 Comparison
This table makes it easy to compare the best forex cent account brokers for beginners in Spain for 2024 by placing their information side by side all in one place. The table includes the categories that are most important when deciding on a broker to work with. The data contained in this table is verified and only includes the most reputable brokers.
| RoboForex | FBS | IronFX | Grand Capital Ltd. | AximTrade | |
|---|---|---|---|---|---|
|
Trading platform |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
MT4, Mobile Trading |
WebTrader, MetaTrader4 |
Grand Trade, MT4, MT5 |
MT4 |
|
Min deposit |
$10 |
$1 |
$100 |
$10 |
$1 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:30 |
From 1:1 |
From 1:1 |
|
Trust management |
No |
No |
No |
No |
No |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
|
Spread |
From 0 points |
From 0.2 points |
From 0 points |
From 1 point |
From 0 points |
|
Level of margin call / stop out |
No |
No |
No |
No |
No |
|
Execution of orders |
Market Execution, Instant Execution |
Market Execution |
STP, Market Maker, ECN |
Market Execution |
Market Execution, S/L (stop loss) |
|
No deposit bonus |
No |
$5 |
No |
$10 |
$55 |
|
Cent accounts |
Yes |
Yes |
No |
Yes |
Yes |
Commissions & Fees
Brokerage fees are the amount of money that you pay for using the services that a brokerage offers in order to perform trading and manage investments. The brokerage fee structure and regulations vary from broker to broker, and there are two primary fee types which are:
Trading Fees: This type of fee is only charged when you perform a trade. It can be a conversion fee, margin rate, financing rate, spread, or commission.
Non-Trading Fees: This type of fee isn't directly related to your trading activity, and it can include inactivity fee, withdrawal fee, deposit fee, etcetera.
RoboForex Commissions and Fees
Our experts have checked this company for trading and non-trading commissions. In the trading commission category, the broker's spread was considered, and as a non-trading commission, it charges an additional fee for withdrawing funds.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Pro |
$13 |
No |
|
Pro-Cent |
$13 |
No |
|
ECN |
$3 |
No |
|
Prime |
$1 |
No |
FBS Commissions and Fees
The experts at Traders Union checked the broker for trading and non-trading commissions. In the category of trading commission, the company's spread was considered, and as a non-trading commission, various additional fees for withdrawing funds from the account were considered.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
From $1.7 |
No |
|
Cent |
From $1.3 |
No |
IronFX Commissions and Fees
Trading terms at IronFX were analyzed by specialists at the Traders Union for trading and non-trading commissions. There are no hidden trading fees and no commission is charged for deposits or withdrawals. An exception may be the transfer fee set by the payment system.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
from $18 |
No |
|
Premium |
from $16 |
No |
|
VIP |
from $14 |
No |
|
Zero Fixed |
from $0 |
No |
|
No commission |
from $17 |
No |
|
Zero Spread |
from $0 |
No |
|
Absolute Zero |
from $3 |
No |
Grand Capital Ltd. Commissions and Fees
Experts at TU have analyzed Grand Capital’s offers and basic trading terms for obvious and hidden fees. No hidden fees were found. Besides spreads, evident fees worth noting include maintenance fees on ECN accounts ($5–15 for 1 lot or 0.5%) and withdrawal fees (deposit fees are absent). Withdrawal fees are 0.5%–0.6%.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Micro |
$1 |
Yes |
|
Standard |
$10 |
Yes |
|
MT5 |
$4 |
Yes |
|
ECN Prime |
$4 |
Yes |
|
Crypto |
$4 |
Yes |
|
Swap Free |
$10 |
Yes |
AximTrade Commissions and Fees
The AximTrade broker does not withhold commissions for deposits and withdrawals, however, some payment systems apply them. Skrill and Neteller charge 4% of the transfer amount for withdrawing money. Account maintenance is also free. As a trading commission, AximTrade maintains a floating spread: from 1 pip on cent and standard accounts; and from 0.0 pips on ECN accounts. Also on ECN accounts, there is an additional commission for each lot for USD 3 (for opening and closing a position).
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Cent |
From 0.01 pip |
No |
|
Standard |
From 1 pip |
No |
|
ECN |
From 0.0 pip |
No |
|
INFINITE |
As Low as 3 Pip |
No |
Summary
Many brokers are available for traders from Spain, but not all of them offer good conditions. In this review, TU experts chose the Best forex cent account brokers for beginners in Spain 2024. These are the most trusted companies that offer the best conditions for traders. You will also be able to review the general assessment of each broker.
Overall score of the best Forex Cent Account Brokers For Beginners in Spain
| RoboForex | FBS | IronFX | Grand Capital Ltd. | AximTrade | |
|---|---|---|---|---|---|
|
Overall score |
9.71 |
8.98 |
7.64 |
5.66 |
4.82 |
|
Execution of orders |
8.95 |
9.5 |
6.85 |
4.57 |
8.6 |
|
Investment instruments |
8.2 |
6.96 |
8.87 |
3.83 |
8.47 |
|
Withdrawal speed |
9.71 |
9.57 |
7.23 |
6.43 |
9.03 |
|
Customer Support work |
9.17 |
7.58 |
7.03 |
5.47 |
7.94 |
|
Variety of instruments |
8.75 |
7.02 |
8.02 |
7.02 |
8.02 |
|
Trading platform |
6.86 |
9.03 |
3.88 |
5.41 |
7.01 |
|
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FAQ
What factors are important when you are choosing a broker?
When you are choosing a broker, it is important to make sure it is a reliable company, consider its fees, the list of trading instruments, deposit and withdrawal methods and other factors. It is important to study a broker in detail, before opening an account with it.
Is it possible to work with offshore brokers?
It is best not to work with offshore brokers. However, if you have chosen such a company, you need to check and analyze it very thoroughly. There are offshore brokers with good reputations. Before you start working with such a company, deposit the minimum amount and start trading. Once you’ve worked with the broker for a little while and checked how it operates and how quickly it processes withdrawals, you can start depositing higher amounts.
What are the risks of trading in the financial markets?
Any trading in the financial markets carries risks of losing your money due to asset volatility. Therefore, it is important to develop the rules of risk management in your strategy and strictly follow them.
What commissions and fees should I take into consideration when I am choosing a broker?
The commissions and fees in the financial markets are divided into trading and non-tradings ones. Trading fees are the fees that are charged directly during trading (spread, commission per lot, etc.), while non-trading fees are the ones charged outside the trading process (for example, account fee, inactivity fee, deposit and withdrawal fee).
Best Forex Cent Account Brokers For Beginners by Countries
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.