Choosing the right broker can save you hundreds of euros a year in fees. The Spanish market in 2026 offers excellent options for all types of investors, from those starting with €500 to those managing six-figure portfolios.
The 5 Best Brokers in Spain 2026
1. Interactive Brokers — Best for Advanced Investors
| Feature | Details |
|---|---|
| US stock commission | 0.05% (min. €1.25) |
| ETF commission | €0 on selected ETFs |
| US stock commission | From $0.0035 per share |
| Available markets | 150+ markets, 33 countries |
| Regulation | CNMV, FCA, SEC, FINRA |
| Funds protection | SIPC up to $500K (U.S.) |
| Cash returns | Yes, BIL up to 3.83% in USD |
| Minimum account balance | €0 |
Interactive Brokers is the preferred broker for professional and advanced investors. It provides access to virtually any market in the world, offers the lowest commissions on options and futures, and pays interest on cash balances. The TWS platform may be complex for beginners.
Ideal for: Investors with a portfolio over €20,000, active traders, those investing in international markets, options investors.
2. Trade Republic — Best for beginners
| Feature | Details |
|---|---|
| Stock/ETF commission | €1 per trade |
| Investment plan fee | €0 |
| Available markets | Europe + U.S. |
| Regulation | BaFin (Germany), CNMV |
| Fund guarantee | German FGD up to €100,000 |
| Cash return | Yes, 2.02% APR |
| Minimum account balance | €0 |
| Spanish IBAN | Yes |
Trade Republic combines a brokerage, interest-bearing account, and card in a single app. With just €1 per trade, it’s ideal for those starting to invest with small amounts. The commission-free automatic investment plans (starting at €1/month) are perfect for dollar-cost averaging in index ETFs. Its interest-bearing account offers 2.02% APR based on the ECB rate.
Ideal for: Beginners, savers who want to invest in ETFs on a recurring basis, those looking for simplicity.
3. Scalable Capital — Best for ETF investors
| Feature | Details |
|---|---|
| Lite Plan | €0.99 per trade |
| Prime Plan (€4.99/month) | Commission-free ETFs + stocks at €0 |
| Available markets | Europe + U.S. |
| Regulation | BaFin (Germany), CNMV |
| Fund guarantee | German FGD up to €100,000 |
| Cash return | Yes, 2.50% APR (Lite plan) |
| Minimum account balance | €0 |
Scalable Capital is the best option if you trade ETFs frequently. With the Prime plan (€4.99/month), you get unlimited access to over 2,000 ETFs with no commission. If you make more than 5 ETF trades per month, the Prime plan pays for itself.
Ideal for: Active ETF investors, those who rebalance frequently, and index portfolios.
4. DEGIRO — Best value for money for European stocks
| Feature | Details |
|---|---|
| Commission on Spanish stocks | €3.90 + 0.05% |
| US stock commission | €1.00 + $0.50 exchange fee |
| Free ETFs | Limited selection |
| Available markets | 50+ markets |
| Regulation | AFM (Netherlands), CNMV |
| Funds guarantee | Up to €20,000 (securities) + €100,000 (cash) |
| Cash interest | No |
| Minimum account balance | €0 |
DEGIRO was a pioneer in low commissions in Europe. Although Trade Republic and IBKR have narrowed the gap, DEGIRO remains competitive for European stocks. It does not pay interest on cash, which is a disadvantage compared to current competitors.
Ideal for: Investors in individual European stocks who do not need cash interest.
5. XTB — Best for those starting from scratch
| Feature | Details |
|---|---|
| Stock/ETF commission | €0 up to €100,000/month, then 0.20% |
| Available markets | Europe + U.S. + Forex + CFDs |
| Regulation | CNMV (Spain), FCA, KNF |
| Funds guarantee | Spanish FGD up to €100,000 |
| Cash interest | Yes, up to 3.10% APR (first 90 days, then 1.55%) |
| Minimum balance | €0 |
| Support in Spanish | Yes, 24/5 |
XTB is directly regulated in Spain (CNMV), offers support in Spanish, and has zero commissions on trades up to €100,000 per month, making it very attractive for small and medium-sized investors. It includes free training and its own highly intuitive platform (xStation).
Ideal for: Beginners who want support in Spanish, investors with amounts up to €100,000/month.
Quick comparison
| Broker | US Stocks | ETFs | Cash returns | Regulation | Who is it for |
|---|---|---|---|---|---|
| Interactive Brokers | 0.05% | €0 selection | Yes (~3%+) | Global | Advanced |
| Trade Republic | €1 | €1 | 2.02% | BaFin/CNMV | Beginners |
| Scalable Capital | €0.99 | €0 (Prime) | 2.50% | BaFin/CNMV | Active ETFs |
| DEGIRO | €3.90+ | €0 selection | No | AFM/CNMV | US Stocks |
| XTB | 0 | €0 | 3.10% (90-day promo) | CNMV | Spain |
Which broker should you choose based on your profile?
- I’m starting to invest with less than €5,000 → Trade Republic or XTB
- I want to invest in index ETFs on a recurring basis → Trade Republic (commission-free plans)
- I have more than €20,000 and want the best fees → Interactive Brokers
- I trade ETFs frequently → Scalable Capital Prime
- I want support in Spanish and Spanish regulation → XTB
Frequently Asked Questions
Are these brokers safe for investing?
All are regulated by recognized European supervisory authorities (CNMV, BaFin, AFM, FCA). The securities (stocks, ETFs) are your property and are segregated from the broker’s balance sheet—if the broker goes bankrupt, you recover your securities. Cash in your account is protected by the corresponding guarantee fund.
Do I have to report foreign investments?
If the value of your foreign assets exceeds €50,000 as of December 31, you must file Form 720. For amounts below that, you only pay taxes when you realize capital gains (sell at a profit), which are reported on your income tax return as investment income.
Can I use multiple brokers at the same time?
Yes, and it’s common. Many investors use Trade Republic for recurring savings plans, Interactive Brokers for more active trading, and a separate interest-bearing account for a liquidity cushion.
What is the best broker for index ETFs?
For long-term passive investing, Trade Republic (commission-free plans) or Scalable Capital Prime (€0 on over 2,000 ETFs) are the best options. Both allow you to set up automatic monthly plans at no cost.