Country Guide · Updated June 2026
Best Forex Brokers in Spain 2026
Spain has the fourth-largest economy in the eurozone and a growing retail trading population, with the CNMV (Comisión Nacional del Mercado de Valores) actively supervising the sector. We tested 24 EU-regulated brokers and ranked them using a Spain-weighted scoring model that prioritises regulation (30%), fees (25%), platforms (15%), execution (10%), instruments (10%), support (5%), and education (5%). Every broker below operates under ESMA protections including leverage caps, negative balance protection, and segregated funds.
Quick Answer
Pepperstone is the best forex broker in Spain for 2026, scoring 9.3/10 on our Spain-weighted model. It offers raw spreads from 0.0 pips, zero minimum deposit, BaFin regulation passported into Spain, and four platforms including cTrader and TradingView.
Based on independent testing of 24 EU-regulated brokers, weighted for factors that matter most to Spanish traders: regulatory safety, cost, and platform quality.
ESMA Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
How the CNMV Protects Spanish Traders
The Comisión Nacional del Mercado de Valores (CNMV) is Spain's financial markets regulator. Most retail forex brokers serve Spain via MiFID II passporting from another EU member state rather than holding a direct CNMV licence, but the CNMV supervises these passported firms' conduct within Spain.
CNMV Public Register
The CNMV maintains a public register of all firms authorised to provide investment services in Spain, including passported EU brokers. Always verify your broker at cnmv.es before opening an account.
ESMA Leverage Caps
All EU-regulated brokers serving Spain must enforce ESMA leverage limits: 30:1 on major forex pairs, 20:1 on non-major pairs and gold, 5:1 on equities, and 2:1 on crypto. No exceptions for retail clients.
Marketing Restrictions
The CNMV requires standardised risk warnings on all forex and CFD advertising targeting Spanish consumers, including percentage-of-loss statistics and clear identification of the promoting entity.
Fund Segregation
Client funds must be held in segregated accounts, separate from the broker’s operational capital, under MiFID II rules enforced in Spain. This protects client deposits in case of broker insolvency.
Compensation Schemes
Spanish clients are covered by the compensation scheme of the broker’s home regulator — e.g. ICF up to EUR 20,000 for CySEC brokers, or the FSCS up to £85,000 for FCA brokers. BlackBull’s FMA regulation does not carry equivalent cover.
Warnings Against Unauthorised Firms
The CNMV publishes regular warnings about unauthorised entities soliciting Spanish investors. It coordinates with ESMA and other EU regulators to flag cross-border fraud and cloned firm websites.
Top 5 Brokers for Spain at a Glance
| Rank | Broker | ES Score | EUR/USD | Min Deposit | Regulator | Spanish Support |
|---|---|---|---|---|---|---|
| #1 | Pepperstone | 9.3 | 0.0 pips (Razor), 0.69 pips (Standard) | None | BaFin, CySEC, FCA | Yes |
| #2 | XTB | 8.9 | From 0.1 pips | None | KNF, FCA, CySEC | Yes |
| #3 | Exness | 9.2 | 0.0 pips (Raw), 0.3 pips (Pro), 1.0 pips (Standard) | €10 | CySEC, FCA | Limited |
| #4 | eToro | 8.5 | 1.0 pips | €50 | CySEC, FCA | Yes |
| #5 | BlackBull Markets | 8.4 | 0.0 pips (ECN Prime), 0.8 pips (Standard) | None | FMA | Limited |
Top 10 Forex Brokers in Spain — Mini Reviews
Ranked by our Spain-weighted score (regulation 30%, fees 25%, platforms 15%, execution 10%, instruments 10%, support 5%, education 5%). All brokers are EU-regulated or internationally regulated with ESMA-equivalent protections for Spanish retail clients.
- 1Best in Spain
Pepperstone operates in the EU via Pepperstone GmbH, regulated by BaFin and passported into Spain under MiFID II. The Razor account offers raw spreads from 0.0 pips with a commission of €3.50 per lot per side — among the lowest all-in costs available to Spanish retail traders. There is no minimum deposit requirement. Platform choice is a core strength: MT4, MT5, cTrader, and TradingView are all available, each with full EA and algo-trading support. Pepperstone’s execution infrastructure uses Equinix data centres (LD4 London, NY4 New York, TY3 Tokyo) with typical fill times under 30ms. EUR base-currency accounts eliminate conversion fees. For cost-conscious Spanish traders focused on forex and major CFD markets, Pepperstone offers the best price-to-execution ratio available.
- Min deposit
- None
- EUR/USD
- 0.0 pips (Razor), 0.69 pips (Standard)
- Platforms
- 4 platforms
- Regulation
- BaFin, CySEC, FCA
- 2Runner-up
XTB is a publicly listed broker (Warsaw Stock Exchange) regulated by CySEC, the FCA, and KNF. It passports into Spain under MiFID II and is registered with the CNMV. XTB has built a strong brand across Southern Europe, with dedicated Spanish-language support and localised educational content including webinars and video tutorials in Spanish. The xStation 5 platform is fast, well-designed, and includes integrated sentiment data, an economic calendar, and a built-in calculator suite. There is no minimum deposit, and spreads start from 0.1 pips on EUR/USD under the Pro account with a commission, or from 0.5 pips on the Standard spread-only account. XTB offers around 5,800 instruments including real stocks and ETFs (non-CFD) up to a monthly volume of EUR 100,000. For Spanish traders who want a modern proprietary platform with zero barriers to entry and strong local presence, XTB is the top pick for platform quality.
- Min deposit
- None
- EUR/USD
- From 0.1 pips
- Platforms
- 2 platforms
- Regulation
- KNF, FCA, CySEC
- 3#3
Exness serves Spanish clients through Exness (Cy) Ltd, regulated by CySEC under licence 178/12 and passported into Spain via MiFID II. The Pro account delivers spreads from 0.3 pips on EUR/USD with zero commission — all-in costs of roughly €3–5 per standard lot round-turn, the cheapest available. The Raw Spread account matches competitors at 0.0 pips with €3.50/lot/side commission. Exness processes the majority of withdrawals instantly — funds arrive within seconds or minutes — a genuine operational differentiator no other major broker has replicated. Monthly trading volume exceeds $5 trillion, providing deep liquidity. Platforms include MT4, MT5, Exness Terminal, and the Exness App. The absence of cTrader and TradingView is the main gap versus Pepperstone. SEPA bank transfers in EUR are processed same-day.
- Min deposit
- €10
- EUR/USD
- 0.0 pips (Raw), 0.3 pips (Pro), 1.0 pips (Standard)
- Platforms
- 4 platforms
- Regulation
- CySEC, FCA
- 4#4
eToro holds CySEC and FCA licences and is one of the most recognised trading brands in Spain, driven largely by its copy-trading feature. Spanish traders can browse top-performing portfolios and automatically mirror trades with a single click — a genuine differentiator for those who lack the time or experience to trade independently. The minimum deposit is $200, and the platform supports fractional share investing alongside forex and CFD trading. eToro’s proprietary platform is designed for simplicity rather than depth: it lacks the advanced charting and indicator customisation of MT4/MT5 or cTrader. Spreads are wider than raw-spread competitors, starting at around 1.0 pip on EUR/USD with no commission. Spanish-language support is fully available. eToro is best suited to social-first traders and beginners who prioritise ease of use and community features over raw execution speed or tight spreads.
- Min deposit
- €50
- EUR/USD
- 1.0 pips
- Platforms
- 2 platforms
- Regulation
- CySEC, FCA
- 5#5
BlackBull Markets is regulated by the New Zealand FMA and serves European clients via its international entity. The ECN Prime account delivers raw spreads from 0.0 pips with a commission of $6 per standard lot round-turn — the lowest commission among the brokers on this list. Platforms include MT4, MT5, cTrader, TradingView, and BlackBull’s proprietary CopyTrader for social trading. Execution infrastructure uses Equinix NY5 and LD4 data centres with sub-30ms typical fill times. The main consideration for Spanish traders is that BlackBull’s FMA regulation does not carry EU investor compensation scheme coverage — client funds are segregated but not covered by the ICF. For experienced traders comfortable with this trade-off and focused on minimising execution costs, BlackBull offers compelling pricing and platform depth.
- Min deposit
- None
- EUR/USD
- 0.0 pips (ECN Prime), 0.8 pips (Standard)
- Platforms
- 4 platforms
- Regulation
- FMA
- 6#6
Plus500 holds CySEC and FCA licences and passports into Spain under MiFID II. It is listed on the London Stock Exchange, providing a layer of corporate transparency that privately held brokers cannot match. Brand recognition in Spain is strong, reinforced by its long-standing sponsorship of Atlético de Madrid — one of Spain’s most prominent football clubs. The proprietary platform is clean and straightforward, designed for traders who want quick execution without MetaTrader complexity. Spreads are competitive on major pairs with no commission, and the $100 minimum deposit is accessible. Plus500 does not support MetaTrader or third-party platforms, limiting it for algorithmic traders and those who rely on custom indicators. For Spanish traders who value simplicity, brand assurance, and a low entry point, Plus500 is a solid option.
- Min deposit
- €100
- EUR/USD
- From 0.8 pips (variable)
- Platforms
- 3 platforms
- Regulation
- CySEC, FCA
- 7#7
Capital.com is regulated by CySEC and the FCA, passporting into Spain under MiFID II. It has been growing rapidly in the Spanish market, aided by an AI-powered trading platform that analyses user behaviour to flag potential biases and suggest risk-management improvements. Spreads are tight — from 0.6 pips on EUR/USD with zero commission — and there is no minimum deposit for bank-transfer funding. The platform’s integrated educational content and TradingView charting appeal to intermediate traders upgrading from basic platforms. Capital.com also offers a dedicated mobile app with full trading functionality. Spanish-language support is available. The main limitation is a narrower instrument range compared to established multi-asset brokers like Saxo or IG. For Spanish traders drawn to technology-assisted analysis and low all-in costs, Capital.com is a strong choice.
- Min deposit
- €20
- EUR/USD
- 0.6 pips average
- Platforms
- 5 platforms
- Regulation
- FCA, CySEC
- 8#8
Admirals (formerly Admiral Markets) is regulated by CySEC, passporting into Spain under MiFID II. The broker’s standout feature is its MetaTrader Supreme Edition plugin, which adds correlation matrices, sentiment indicators, mini-terminals, and a trading simulator to MT4 and MT5 at no extra cost. Educational resources are extensive, with structured courses, Spanish-language webinars, and a dedicated “Trading Academy” that covers forex, CFDs, and risk management. Spreads start from 0.5 pips on EUR/USD under the Trade.MT5 account with no commission, or from 0.0 pips with commission on the Zero.MT5 account. Minimum deposit is €25. For Spanish beginners and intermediate traders who value education and MetaTrader enhancement, Admirals is the strongest choice.
- Min deposit
- €25
- EUR/USD
- 0.0 pips (Zero), 0.5 pips (Trade)
- Platforms
- 4 platforms
- Regulation
- CySEC, FCA
- 9#9
IG is one of the longest-established retail brokers globally, founded in London in 1974. It holds BaFin and FCA licences and passports into Spain under MiFID II. With over 17,000 instruments spanning forex, indices, shares, commodities, bonds, and options, IG’s product range is second only to Saxo among the brokers on this list. Spreads start from 0.6 pips on EUR/USD under a spread-only model with no commission on forex. The proprietary platform integrates ProRealTime advanced charting — valuable for technical analysts — alongside MT4 and the IG mobile app. The minimum deposit is €250, and EUR accounts are standard. IG’s long track record and regulatory depth make it the safest choice for conservative Spanish traders with a multi-asset focus.
- Min deposit
- None
- EUR/USD
- 0.6 pips average
- Platforms
- 5 platforms
- Regulation
- BaFin, FCA
- 10#10
Saxo Bank is a Danish investment bank offering one of the widest instrument ranges in the industry — over 71,000 products across forex, equities, bonds, ETFs, options, and futures from a single multi-asset account. SaxoTraderGO and SaxoTraderPRO deliver institutional-grade charting, integrated research, and a clean interface. Saxo operates across the EU under MiFID II passporting with FCA oversight, giving Spanish clients full ESMA protection. EUR-denominated accounts are standard. The main drawbacks are pricing (Classic tier spreads start around 0.6 pips on EUR/USD) and the €2,000 minimum deposit on the Classic account, making it less accessible to beginners. For high-net-worth Spanish traders who value depth of instruments, quality research, and a bank-backed custody structure, Saxo is the premium choice.
- Min deposit
- None
- EUR/USD
- 0.6 pips (Platinum), 0.8 pips (Classic)
- Platforms
- 3 platforms
- Regulation
- Danish FSA, FCA
2026 Spain Category Winners
The best broker in each category relevant to Spanish traders.
Best Overall in Spain
Pepperstone
9.3/10
Highest Spain-weighted score combining tight raw-spread pricing, BaFin regulation, and four trading platforms including cTrader and TradingView.
Best for Low Costs
Exness
9.5/10
Ultra-tight pricing with raw spreads from 0.0 pips and the lowest all-in trading costs for Spanish traders.
Most Instruments
Saxo Bank
9.8/10
The widest range of tradable instruments from a single account \u2014 forex, equities, bonds, ETFs, options, and futures.
Best for Beginners
IG
9.3/10
Structured educational content, Spanish-language resources, and a low barrier to entry for new traders.
Best Platform Choice
Saxo Bank
9.5/10
The most comprehensive platform ecosystem including institutional-grade charting, algo trading, and mobile apps.
Best Execution
Exness
9.7/10
Top-tier execution speed with Equinix-class infrastructure and minimal slippage during volatile sessions.
ESMA Leverage Rules for Spanish Traders
These leverage caps apply to all retail forex and CFD traders in Spain regardless of which EU broker they use. Enforced by the CNMV under Spanish transposition of ESMA measures.
| Asset Class | Max Retail Leverage | Example |
|---|---|---|
| Major FX Pairs | 30:1 | EUR/USD, GBP/USD, USD/JPY |
| Minor FX Pairs & Gold | 20:1 | EUR/GBP, EUR/CHF, XAU/USD |
| Commodities (ex. Gold) | 10:1 | Brent crude, natural gas, silver |
| Equity Indices | 5:1 | IBEX 35, EURO STOXX 50, DAX 40 |
| Individual Equities | 5:1 | Santander, Inditex, Telefónica, Iberdrola |
| Cryptocurrencies | 2:1 | BTC/USD, ETH/USD |
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Forex Tax in Spain: What Traders Need to Know
Trading profits in Spain are classified as savings income (rendimientos del ahorro) and taxed under a tiered capital gains structure separate from employment income. The 2026 rates are:
| Capital Gains Band | Tax Rate |
|---|---|
| First EUR 6,000 | 19% |
| EUR 6,001 – EUR 50,000 | 21% |
| EUR 50,001 – EUR 200,000 | 23% |
| Over EUR 200,000 | 27% |
Loss offsetting: Capital losses on financial instruments can be offset against capital gains of the same nature within the same tax year. Unused losses may be carried forward for up to four years. Unlike Germany (which caps derivative loss offsetting at EUR 20,000/year) or Portugal (no loss carryforward on CFDs), Spain allows full offset with no annual cap — a meaningful advantage for active traders.
Modelo 720 — foreign asset declaration: Spanish residents must declare all foreign financial accounts exceeding EUR 50,000 in total value using Modelo 720. This includes trading accounts held with EU brokers headquartered outside Spain. The European Court of Justice ruled Spain's original penalty regime disproportionate (Case C-788/19, January 2022), but the filing obligation remains and reduced penalties still apply for non-compliance.
IRPF filing: All forex gains must be declared on the annual IRPF (Impuesto sobre la Renta de las Personas Físicas) tax return. The standard filing period runs April to June. Traders using foreign brokers should retain trade confirmations and account statements as supporting documentation.
Comparison with neighbouring jurisdictions:Spain's 19–27% tiered rate is higher than Portugal's flat 28% only above EUR 200,000. For smaller portfolios, Spain is competitive. France's flat 30% PFU (Prélèvement Forfaitaire Unique) is simpler but more expensive for traders earning under EUR 50,000.
Cross-Jurisdiction Tax Comparison
Spain's 19–27% tiered structure favours traders with smaller annual gains, while its uncapped loss offset and four-year carryforward make it one of the most active-trader-friendly regimes in Western Europe.
| Country | Rate | Loss Offset | Key Difference |
|---|---|---|---|
| Spain | 19–27% tiered | Full offset, 4-year carry | Modelo 720 foreign asset declaration above EUR 50,000; tiered rates favour smaller portfolios; IRPF filing April–June |
| Germany | 25% + 5.5% soli | EUR 20,000/yr cap on derivatives | Derivative loss cap penalises active traders; Abgeltungsteuer withheld by German brokers |
| France | Flat 30% PFU | Full offset, 10-year carry | PFU bundles 12.8% income tax + 17.2% social charges; opt-in progressive scale possible; form 3916 mandatory |
| Italy | Flat 26% | Full offset, 4-year carry | Quadro RW foreign asset declaration (no minimum); IVAFE 0.2% wealth tax on foreign assets |
| Netherlands | Box 3: 36% on deemed return | Not applicable (deemed) | Tax on presumed ~6% yield, not actual gains; EUR 57,000 exemption; favours profitable traders |
| Austria | 27.5% flat (KESt) | Full offset, same category, no carryforward | No derivative loss cap; endbesteuerung when Austrian broker withholds; crypto taxed at 27.5% |
| Ireland | 33% CGT | Full offset, unlimited carry | EUR 1,270 annual exemption; no foreign-asset declaration; split-year payment dates |
Rates as of June 2026. See our EU Forex Tax Map 2026 for all 29 jurisdictions.
Spain-Specific Considerations
IBEX 35 trading and Spanish equity CFDs.Spanish traders focused on the domestic market can access the IBEX 35 index via CFDs and individual Spanish equities — Santander, Inditex, BBVA, Iberdrola, Telefónica, Repsol, CaixaBank — as share CFDs. IG and Saxo Bank offer the broadest coverage of BME-listed shares, while Pepperstone and XTB provide the major indices and blue-chip names. ESMA leverage caps apply: 5:1 for equity indices and individual shares. The IBEX 35 is the primary European benchmark for Spanish financial exposure, and its correlation with other eurozone indices (DAX, CAC 40) creates spread-trading opportunities during the 09:00–17:30 CET session. The Madrid–London overlap delivers the tightest IBEX 35 CFD pricing.
Spanish deposit and withdrawal methods.SEPA bank transfers are the standard funding method across all EU brokers and settle within one business day from Spanish banks. Visa and Mastercard debit cards — standard issue from Santander, BBVA, CaixaBank, Sabadell, and Bankinter — work at every broker accepting card payments. PayPal is widely used in Spain and supported by Pepperstone, eToro, XTB, and several others on this list. Bizum, Spain's dominant instant-payment app (over 27 million users), is not directly supported by forex brokers but funds move to a linked bank account within seconds, making SEPA transfers effectively instant at the funding stage. Skrill and Neteller remain popular among active traders. Check for withdrawal fees — the best brokers (Pepperstone, Exness) charge none regardless of method.
Modelo 720 and Spanish tax reporting in practice. Spanish tax residents holding foreign financial accounts worth over EUR 50,000 in aggregate must file Modelo 720 annually (deadline: 31 March). This includes trading accounts with EU brokers headquartered outside Spain — a CySEC-regulated broker counts as a foreign account even though it passports into Spain. The European Court of Justice's January 2022 ruling (Case C-788/19) struck down Spain's disproportionate penalty regime, but the filing obligation persists and reduced fines still apply. Separately, all forex gains must be declared on the annual IRPFreturn (Impuesto sobre la Renta de las Personas Físicas) during the April–June filing window. Traders using multiple brokers should maintain consolidated trade logs — Spain's Agencia Tributaria has access to CRS (Common Reporting Standard) data from EU brokers.
CNMV enforcement and the public register. The CNMV maintains a public register of all firms authorised to provide investment services in Spain, including passported EU brokers. Before opening any account, verify the broker at cnmv.es. The CNMV publishes regular warnings about unauthorised entities and has been increasingly active in enforcement since 2018, coordinating with ESMA on mystery-shopping exercises and cross-border supervisory actions. Spanish law requires all CFD and forex marketing to include standardised risk warnings with the broker's specific retail-client loss percentage. Any broker advertising a bonus or promotional incentive to Spanish retail clients should be treated with caution — while not banned outright as in France, the CNMV scrutinises promotional practices closely.
Professional account pathway.Spanish traders who meet at least two of three MiFID II criteria — relevant financial-sector experience, a financial instrument portfolio exceeding EUR 500,000, or at least 10 significant trades per quarter over the past year — can apply for professional client reclassification. Professional accounts unlock higher leverage (up to 500:1 with some brokers) but forfeit negative balance protection, the investor compensation scheme ceiling, and certain ESMA product governance protections. Pepperstone, IG, and Saxo Bank offer professional account tiers with clear application processes. The savings income tax treatment remains identical for professional and retail accounts — reclassification has no tax implications.
Trading hours and session overlap.BME (Bolsas y Mercados Españoles) operates 09:00–17:30 CET. For forex traders, the London–Frankfurt overlap (09:00–17:30 CET) delivers the tightest EUR/USD spreads and deepest liquidity in the European session. The London–New York overlap (14:30–17:30 CET) is the highest-volume period globally and the optimal window for Spanish traders targeting major pairs. Spanish public holidays (Fiesta Nacional de España 12 October, Inmaculada Concepción 8 December, regional holidays) do not affect forex market hours but may delay domestic bank transfers and SEPA settlements. Spain's time zone (CET/CEST) aligns with the core European trading session, meaning Spanish traders do not need to adjust their schedule for Frankfurt or Zurich session hours.
How to Choose a Forex Broker in Spain
Spanish traders have access to any EU-regulated broker via MiFID II passporting, but the following factors deserve particular attention.
| Factor | Why It Matters in Spain |
|---|---|
| CNMV Registration Check | Verify your broker is listed on the CNMV public register at cnmv.es. Unregistered firms soliciting Spanish clients are operating illegally. |
| Modelo 720 Compatibility | Foreign broker accounts above EUR 50,000 must be declared. Some brokers provide year-end account statements in a format suitable for Spanish tax reporting; others do not. |
| Trading Costs | Compare all-in costs (spread + commission) per lot. Spain\u2019s uncapped loss offset makes cost efficiency especially valuable for active traders. |
| EUR Base Currency | Avoid conversion fees by choosing a broker that supports EUR-denominated trading accounts. All ten brokers on this list offer EUR accounts. |
| Spanish-Language Support | Not every EU broker offers Spanish-language customer support, platform interface, and documentation. Verify before opening an account, especially if you need help with platform features or account issues. |
| Compensation Scheme | EU brokers cover Spanish clients under their home regulator\u2019s investor compensation scheme. CySEC brokers: ICF up to EUR 20,000. FCA brokers: FSCS up to \u00a385,000. Non-EU brokers (e.g. FMA-regulated): typically no equivalent scheme. |
How We Rank Brokers for Spain
Our Spain ranking uses different weights from our overall Europe rankings, reflecting the priorities of Spanish traders: regulatory safety and cost efficiency.
| Dimension | Spain Weight | What We Measure |
|---|---|---|
| Regulation | 30% | EU licence validity, CNMV registration status, compensation scheme, ESMA compliance, regulatory track record |
| Fees | 25% | EUR/USD spread, commission, swap rates, withdrawal fees, inactivity charges |
| Platforms | 15% | Platform variety, charting depth, mobile apps, algo-trading support, Spanish-language interface |
| Execution | 10% | Order fill speed, slippage, requote frequency, liquidity depth |
| Instruments | 10% | Forex pairs, IBEX 35/Euro Stoxx, commodities, share CFDs, crypto |
| Support | 5% | Spanish-language support, response time, channels (chat/phone/email) |
| Education | 5% | Spanish-language resources, webinars, structured courses, demo account quality |
Related Comparisons
Original Research
Country Guides
Frequently Asked Questions
Is forex trading legal in Spain?
What is the CNMV and how does it protect Spanish traders?
How are forex profits taxed in Spain?
Which forex broker has the lowest spreads for Spanish traders?
Do Spanish forex brokers offer Spanish-language support?
What is the Modelo 720 and do forex traders need to file it?
Can I use MetaTrader 4 or MetaTrader 5 with a Spanish-regulated broker?
Is copy trading available for Spanish forex traders?
CFD Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
This website is for informational purposes only. The content does not constitute investment advice. Trading leveraged products carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. EU retail leverage limits apply (ESMA): up to 30:1 on major FX pairs, 20:1 on minor FX, 20:1 on major indices, 10:1 on commodities, 5:1 on equities, 2:1 on crypto.