Do Spanish forex traders need to file Modelo 720 for offshore broker accounts?
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Broker mentioned in this answer
Exness
9.4/10Exness is a high-volume global broker with ultra-tight pricing and instant withdrawals. Holds CySEC and FCA licences but closed EU/EEA/UK retail onboarding in 2019 — available to non-EU residents only.
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.
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Related
How is forex trading taxed in Spain?
In Spain forex CFD profits are taxed under savings income (rentas del ahorro) at progressive rates: 19% up to EUR 6,000, 21% from EUR 6,000 to 50,000, 23% from 50,000 to 200,000, 27% above 200,000. Reported on Modelo 100 (IRPF). Losses can offset gains for 4 years.
What is the best forex broker in Spain?
For Spanish traders in 2026, Pepperstone (9.3/10), IG (9.2/10), and XTB (Spanish KNF entity) are the top picks. All three offer Spanish-language client support and SEPA EUR funding. CNMV (the Spanish regulator) accepts EU-passported brokers via MiFID II.
EU-regulated vs offshore forex broker — which should I use?
EU-regulated brokers (CySEC, BaFin, FCA) offer ICF/FSCS compensation up to EUR 20,000-85,000, mandatory negative balance protection, and 30:1 max leverage. Offshore brokers (FSC Belize, IFSC, VFSC) offer higher leverage (500:1+) and looser margin rules but no compensation scheme and weaker investor protection. EU is safer; offshore is for high-risk-tolerance traders only.
Broker review: Exness
Exness is a high-volume global broker with ultra-tight pricing and instant withdrawals. Holds CySEC and FCA licences but closed EU/EEA/UK retail onboarding in 2019 — available to non-EU residents only.
How is forex trading taxed in Europe?
Forex trading tax treatment varies significantly across EU countries. Germany taxes CFD profits at a flat 25% capital gains rate. France treats forex profits as commercial income (up to 45% marginal). The UK taxes most retail forex gains as capital gains (18-24% since 30 October 2024). Spread betting is tax-free in the UK and Ireland only.