TRADING PLATFORMS · SPAIN
Trading platforms in Spain: a provisional comparison
Ten brokers for residents of Spain investing in euros, scored for an everyday investor who buys Spanish, European and US shares and ETFs.
Fees checked on each broker's price list on .
Provisional editorial comparison, not a total-cost ranking. These partial scores cover published fees and features. Spread, depth, slippage and effective execution costs have not been measured comparably and are not silently assumed to be zero. Read the execution review and unresolved research before choosing a broker.
Partial scores at a glance
| # | Broker | Partial score | Commissions (35%) | Currency exchange (15%) | ETF offer (25%) | Other advantages and costs (25%) |
|---|---|---|---|---|---|---|
| 1 | Trading 212 | 8.5 | 10 | 8.5 | 9 | 6 |
| 2 | Trade Republic | 8.4 | 9 | 4 | 9 | 9.5 |
| 3 | Scalable Capital | 8.0 | 9 | 4 | 10 | 7 |
| 4 | XTB | 7.8 | 9.5 | 5 | 8.5 | 6.5 |
| 5 | Lightyear | 7.5 | 9 | 6.5 | 8 | 5.5 |
| 6 | Interactive Brokers (Ireland) | 7.3 | 7.5 | 9.5 | 7 | 6 |
| 7 | MyInvestor | 7.1 | 7 | 6.5 | 5.5 | 9 |
| 8 | DEGIRO | 6.6 | 7.5 | 7 | 6 | 5.5 |
| 9 | Openbank | 6.3 | 8.5 | 3 | 5.5 | 6 |
| 10 | ING Broker Naranja | 6.1 | 5.5 | 7 | 5 | 7.5 |
Spreads and execution: the missing part of a fee table
The bid is what you can sell for; the ask is what you can buy for. Their difference is the quoted spread. It varies with the instrument, time, available quantity and market. A low commission does not establish a low total cost. No synchronized executable quotes or comparable fills were collected for these brokers: the table below is a documentary review, not a measured spread league table.
| Broker | Execution evidence and limits | Comparable realized spread |
|---|---|---|
| Trading 212 | Invest: zero trading commission and 0.15% explicit FX do not mean zero bid/ask spread. Pre-trade costs are estimates; comparable fill prices, spread/depth and German-entity execution outcomes were not measured. | Not measured |
| Trade Republic | Current German/Spanish support describes Best Price execution against Trade Republic using reference-exchange quotes, and Direct Price on a selected exchange for EUR 2 total. Best Price EUR 1 and free savings-plan execution do not eliminate spreads. Availability depends on account and instrument; no measured spread disadvantage or advantage is established. | Not measured |
| Scalable Capital | FREE offers EIX and Xetra/gettex at different published fees. Route choice is useful but does not establish lower realized spread. EUR trading does not prove zero embedded currency cost. Crypto-ETP spread surcharges must not be applied to ordinary shares/ETFs. | Not measured |
| XTB | Comparable spread, depth and fill data have not been collected for this account and order profile. Do not infer execution quality from the headline commission. | Not measured |
| Lightyear | Comparable spread, depth and fill data have not been collected for this account and order profile. Do not infer execution quality from the headline commission. | Not measured |
| Interactive Brokers (Ireland) | Comparable spread, depth and fill data have not been collected for this account and order profile. Do not infer execution quality from the headline commission. | Not measured |
| MyInvestor | Comparable spread, depth and fill data have not been collected for this account and order profile. Do not infer execution quality from the headline commission. | Not measured |
| DEGIRO | Comparable spread, depth and fill data have not been collected for this account and order profile. Do not infer execution quality from the headline commission. | Not measured |
| Openbank | Comparable spread, depth and fill data have not been collected for this account and order profile. Do not infer execution quality from the headline commission. | Not measured |
| ING Broker Naranja | Comparable spread, depth and fill data have not been collected for this account and order profile. Do not infer execution quality from the headline commission. | Not measured |
When a lower commission costs more
Illustration only, not observed broker prices: for a EUR 1,000 immediate market purchase, route A with a EUR 1 commission and a 0.60% full quoted spread costs approximately EUR 4.00 relative to the midpoint. Route B with a EUR 3 commission and a 0.04% spread costs EUR 3.20. This assumes execution at the ask, enough depth, no market movement, no price improvement, no FX and no other costs. A EUR 1 commission saving is cancelled by a EUR 1 worse same-side execution price on this order (0.10%).
For one side, the illustration uses commission + half the quoted spread × order value + additional slippage beyond that quote + FX + other transaction charges. An immediate round trip at unchanged quotes incurs approximately the full spread. If actual execution shortfall is measured against a reference midpoint, do not add the quoted spread again. A limit order controls the worst acceptable price but may not fill.
A rigorous comparison needs the same ISIN/share class, order size, currency, side, timestamp, market depth, route and order type, including active underlying-market hours. Compare actual fills, rejected or unfilled orders, conversion rates, exchange and settlement fees. Add holding-period custody/subscription fees, transfer/dividend charges and applicable taxes separately; ETF TER and tracking difference are product costs, not a broker's spread.
Sources: SEC Investor.gov: order execution and price improvement. Broker-specific execution sources appear with each broker below. These general principles do not imply identical regulations across countries.
The provisional ranking
Trading 212
8.5/10
Profile: Zero-commission trading across Spanish, European and US shares
- Commissions
- 10
- Currency exchange
- 8.5
- ETF offer
- 9
- Other advantages and costs
- 6
Why it ranks here. Zero disclosed trading commission, a stated 0.15% FX charge and recurring investing score well in this partial fee/features comparison. This does not establish the lowest realized cost.
Watch out. You handle Spanish taxes yourself (no withholding, likely Modelo 720 above 50,000 EUR), and protection is the 20,000 EUR investor-compensation cap.
All fees and features
- Spanish shares
- 0 EUR commission; Bolsa de Madrid listed among markets.
- European shares
- 0 EUR commission.
- US shares
- 0 EUR commission; 0.15% FX fee when the instrument currency differs from the account currency.
- ETF orders
- 0 EUR commission.
- Currency exchange
- 0.15% FX fee; multi-currency account (deposit/hold several currencies).
- Custody fee
- Free custody; free withdrawals; bank-transfer deposits free (card deposits free up to a cumulative 2,000 GBP-equivalent, then 0.7%).
- ETF range
- More than 13,000 global shares and ETFs combined (ETF count not stated separately).
- Savings plans
- Pies & AutoInvest for automatic recurring investing in shares and ETFs, no commission.
- Fractional shares
- Yes; minimum order 1 EUR for shares and ETFs.
- Spanish tax
- No Spanish withholding or Spanish tax report found on official pages; custody outside Spain, so Modelo 720 applies above 50,000 EUR abroad (AEAT rule).
- Protection
- EU entities: Trading 212 Markets Ltd (CySEC 398/21) and Trading 212 EU GmbH (BaFin); ICF Cyprus / EdW Germany cover 90% up to 20,000 EUR.
Sources: trading212.com: invest · trading212.com: multi currency · trading212.com: es · trading212.com: auto invest · trading212.com: about us · agenciatributaria.gob.es: forma calcular limite que obliga declar… · trading212.com: how can i see the cost of a trade befor…
Trade Republic
8.4/10
Profile: Low-cost ETF savings plans with Spanish tax handled for you
- Commissions
- 9
- Currency exchange
- 4
- ETF offer
- 9
- Other advantages and costs
- 9.5
Why it ranks here. Low settlement charges, savings plans and Spanish tax handling suit some long-term investors. Its earlier first place relied partly on an unsupported FX assumption; no lowest total-cost claim is justified.
Watch out. The 1 EUR fee applies to every one-off trade, and the full price list is only in the app; spreads and third-party costs are not shown in the headline table. Best Price and Direct Price are distinct routes. Current execution conditions and implicit conversion must be checked in the order preview.
All fees and features
- Spanish shares
- No order commission; flat 1.00 EUR settlement fee per trade (2.00 EUR if the 'Precio Directo' venue is chosen). Execution venue for Spanish shares (BME or not) not confirmed.
- European shares
- Same: 1.00 EUR per trade (2.00 EUR via Precio Directo).
- US shares
- Same: 1.00 EUR per trade; orders placed in EUR.
- ETF orders
- 1.00 EUR per one-off trade; savings plan executions free of charge.
- Currency exchange
- No FX fee listed in the price table; pricing note says currency gains are converted to EUR. Spreads and third-party costs may apply. Correction: no separate FX charge or EUR trading is not evidence of zero embedded conversion cost. The 4/10 is a conservative editorial uncertainty rating, not a measured 4% fee or a claim that both have identical FX costs.
- Custody fee
- No custody fee (dividends and corporate actions free of charge).
- ETF range
- Number of ETFs not stated on the Spanish pages checked.
- Savings plans
- Savings plans in shares, ETFs and crypto with no Trade Republic fee; investing from 1 EUR.
- Fractional shares
- Yes, from 1 EUR.
- Spanish tax
- Spanish branch with Spanish IBAN; applies Spanish withholding and automatic reporting of securities operations after migration to the Spanish offer; free local tax report; press release says it removes the Modelo 720 burden. Tax-free fund switches (traspasos) available.
- Protection
- Trade Republic Bank GmbH (BaFin); Spanish branch supervised by Banco de Espana and CNMV for its activities; assigned to Entschadigungseinrichtung deutscher Banken (EdB); cash at partner banks covered by deposit guarantee up to 100,000 EUR.
Sources: traderepublic.com: es es · traderepublic.com: how do i trade fractions · traderepublic.com: ca es en es.pdf · traderepublic.com: traderepublic pressrelease spainbranchl… · traderepublic.com: what is the annual tax certificate · traderepublic.com: dc64 59cb 4521 a424 1ee812f264a4 · traderepublic.com: auf welchem handelsplatz werden meine o…
Scalable Capital
8.0/10
Profile: Largest choice of free ETF savings plans
- Commissions
- 9
- Currency exchange
- 4
- ETF offer
- 10
- Other advantages and costs
- 7
Why it ranks here. A broad advertised ETF savings-plan range and low EIX order fees suit recurring investors. Venue, spread, embedded conversion and Spanish tax handling must be considered separately.
Watch out. Only orders of 250 EUR or more in PRIME ETFs are free on the FREE plan; Xetra/gettex orders cost 1.99 EUR, and Spanish tax withholding is not done for you.
All fees and features
- Spanish shares
- FREE plan: 0.99 EUR per trade on European Investor Exchange; 1.99 EUR on Xetra/gettex. PRIME+ (4.99 EUR/month): 0 EUR from 250 EUR. Direct BME access not confirmed.
- European shares
- 0.99 EUR per trade (FREE, European Investor Exchange); 1.99 EUR on Xetra and gettex.
- US shares
- Same EUR-denominated order fees (0.99 EUR / 1.99 EUR); traded on European exchanges.
- ETF orders
- 0 EUR for PRIME ETFs (Amundi, iShares, Vanguard, Xtrackers) bought for 250 EUR or more on European Investor Exchange; otherwise 0.99 EUR.
- Currency exchange
- Trades executed in EUR on European exchanges; Spanish launch release states no exchange fees ('sin tasas de cambio'). Correction: no separate FX charge or EUR trading is not evidence of zero embedded conversion cost. The 4/10 is a conservative editorial uncertainty rating, not a measured 4% fee or a claim that both have identical FX costs.
- Custody fee
- 0 EUR custody; no initial fees on funds.
- ETF range
- More than 2,300 ETFs (broker page); 8,000+ shares.
- Savings plans
- Free savings plan executions from 1 EUR per plan.
- Fractional shares
- Yes, fractions bought through savings plans.
- Spanish tax
- Not a Spanish withholding agent per pages checked; 2022 Spanish launch release promises tax reports adapted to Spanish law. Custody in Germany, so Modelo 720 applies above 50,000 EUR abroad (AEAT rule).
- Protection
- Scalable Capital Bank GmbH, supervised by BaFin and Bundesbank; cash covered by statutory deposit guarantee up to 100,000 EUR per bank.
Sources: scalable.capital: trading comisiones · scalable.capital: broker online · scalable.capital: planes de inversion etf · scalable.capital: scalable spain · scalable.capital · agenciatributaria.gob.es: forma calcular limite que obliga declar… · scalable.capital: trading gebuehren
XTB
7.8/10
Profile: Commission-free shares and ETFs with a Spanish branch
- Commissions
- 9.5
- Currency exchange
- 5
- ETF offer
- 8.5
- Other advantages and costs
- 6.5
Why it ranks here. Free trading up to 100,000 EUR a month, 1,800+ ETFs and free automatic plans make it very cheap for euro-denominated investing.
Watch out. The 0.5% FX fee makes it costly for US shares, and Modelo 720 applies above 50,000 EUR.
All fees and features
- Spanish shares
- 0% commission up to 100,000 EUR traded per month; above that 0.2% (min 10 EUR).
- European shares
- Same: 0% up to 100,000 EUR/month.
- US shares
- Same 0% commission, plus 0.5% currency conversion fee.
- ETF orders
- 0% up to 100,000 EUR/month; then 0.2% (min 10 EUR).
- Currency exchange
- 0.5% conversion fee for instruments in other currencies.
- Custody fee
- No custody fee listed; account opening and maintenance free regardless of balance; minimum share investment 10 EUR.
- ETF range
- More than 1,800 ETFs and 3,400 shares.
- Savings plans
- Investment Plans (up to 10) with automatic contributions, commission-free, from 15 EUR.
- Fractional shares
- Yes ('derechos fraccionados').
- Spanish tax
- Not a Spanish withholding agent per pages checked; XTB's own Modelo 720 page tells clients to file it when foreign accounts or securities exceed 50,000 EUR.
- Protection
- XTB S.A., Sucursal en Espana (CNMV register no. 40); regulated by CNMV and KNF; site cites 20,100 EUR protection for uninvested capital.
Sources: xtb.com: cuenta y tarifas · xtb.com: etfs · xtb.com: planes de inversion · xtb.com: que es el modelo 720 y quien tiene la o…
Lightyear
7.5/10
Profile: Free ETF orders with simple pricing
- Commissions
- 9
- Currency exchange
- 6.5
- ETF offer
- 8
- Other advantages and costs
- 5.5
Why it ranks here. Free ETF trades and 1 EUR share orders keep costs low, with automatic Plans and fractions.
Watch out. 0.35% FX on US shares, no Spanish tax handling and unconfirmed access to Spanish (BME) shares.
All fees and features
- Spanish shares
- EUR-denominated shares: 1 EUR per order. Availability of BME-listed shares not confirmed.
- European shares
- 1 EUR per order for EUR-denominated shares.
- US shares
- 0.10% per order (min 0.10 USD, max 1 USD).
- ETF orders
- Free: no execution or custody fee.
- Currency exchange
- 0.35% conversion at the live interbank rate; multi-currency account (EUR, USD, GBP, HUF).
- Custody fee
- Free securities custody; local bank transfers in/out free.
- ETF range
- Number of ETFs not stated; '6,000 stocks and funds' on site.
- Savings plans
- Plans with auto-invest via standing order or cash balance; no execution fee for ETFs; ready-made Plans with no execution fees.
- Fractional shares
- Yes (only fractional instruments can be auto-invested).
- Spanish tax
- Provides account, income, capital gains and cost statements; no Spanish withholding found; custody outside Spain, so Modelo 720 applies above 50,000 EUR (AEAT rule).
- Protection
- Assets covered up to 20,000 EUR by the Estonian Investor Protection Sectoral Fund.
Sources: lightyear.com: fees and taxes · lightyear.com: plans · lightyear.com: tax and statement · lightyear.com: how are my assets protected · lightyear.com: lightyear launches in 19 european count… · agenciatributaria.gob.es: forma calcular limite que obliga declar…
Interactive Brokers (Ireland)
7.3/10
Profile: Cheapest currency conversion and widest market access
- Commissions
- 7.5
- Currency exchange
- 9.5
- ETF offer
- 7
- Other advantages and costs
- 6
Why it ranks here. Near-zero FX costs and low percentage commissions suit larger orders and US shares.
Watch out. Minimum 3 EUR per European order and per-order commissions on recurring investments; Spanish tax paperwork is on you.
All fees and features
- Spanish shares
- IBKR Pro Fixed, BME (SmartRouting): 0.05% of trade value, min 3.00 EUR.
- European shares
- Xetra, France, Netherlands (SmartRouting): 0.05%, min 3.00 EUR (Tiered also 0.05%).
- US shares
- Fixed: 0.005 USD per share, min 1.00 USD, max 1% of trade value (regulatory fees included).
- ETF orders
- Same as shares on the listing exchange (EU ETFs 0.05%, min 3.00 EUR).
- Currency exchange
- 0.20 basis points (0.002%) of trade value, min 2.00 USD per conversion; multi-currency account.
- Custody fee
- No custody fee found on pages checked.
- ETF range
- Very wide (all major EU exchanges); exact UCITS ETF count not stated.
- Savings plans
- Recurring Investments for eligible US, Canadian and EU stocks/ETFs using fractional shares; normal commissions apply.
- Fractional shares
- Yes, on eligible US, Canadian and European stocks and some ETFs.
- Spanish tax
- No Spanish withholding or Spanish-format tax report found; custody outside Spain, so Modelo 720 applies above 50,000 EUR (AEAT rule).
- Protection
- Interactive Brokers Ireland Ltd (Central Bank of Ireland); Irish Investor Compensation Scheme: 90% of loss, max 20,000 EUR.
Sources: interactivebrokers.ie: commissions stocks europe · interactivebrokers.ie: commissions stocks · interactivebrokers.ie: commissions spot currencies · interactivebrokers.ie: recurring investments · interactivebrokers.ie: fractional trading · interactivebrokers.ie: security investor protection · agenciatributaria.gob.es: forma calcular limite que obliga declar…
MyInvestor
7.1/10
Profile: Spanish bank with no Modelo 720 and free transfers
- Commissions
- 7
- Currency exchange
- 6.5
- ETF offer
- 5.5
- Other advantages and costs
- 9
Why it ranks here. The best tax convenience and protection of a Spanish bank, at a moderate 0.12% commission.
Watch out. Minimum 3 EUR per share order and 0.30% FX, no fractions and no confirmed automatic ETF plans.
All fees and features
- Spanish shares
- 0.12% per trade, min 3 EUR, max 25 EUR (plus exchange fees).
- European shares
- 0.12%, min 3 EUR, max 25 EUR.
- US shares
- 0.12%, min 3 EUR, max 25 EUR, plus 0.30% FX.
- ETF orders
- 0.12%, min 1 EUR, max 25 EUR (no minimum with Premium).
- Currency exchange
- 0.30% FX (also on dividends); USD account available with Premium.
- Custody fee
- 0 EUR custody, maintenance, dividend collection and inactivity fees; transferring shares out is free.
- ETF range
- More than 9,200 shares and ETFs combined; only UCITS-eligible (KID) ETFs.
- Savings plans
- Scheduled periodic orders exist; automatic ETF savings plans not confirmed. Index funds with tax-free traspasos.
- Fractional shares
- No fractional shares or ETFs.
- Spanish tax
- Spanish bank reporting directly to the Tax Agency; no Modelo 720 needed; no withholding on share/ETF sales, operations appear in the tax draft.
- Protection
- MyInvestor Banco, S.A., supervised by Banco de Espana and CNMV; Fondo de Garantia de Depositos up to 100,000 EUR.
Sources: myinvestor.es: broker · myinvestor.es: inversion
DEGIRO
6.6/10
Profile: Cheap one-off trades in Spanish and US shares
- Commissions
- 7.5
- Currency exchange
- 7
- ETF offer
- 6
- Other advantages and costs
- 5.5
Why it ranks here. 2 EUR flat for BME and US shares and 1 EUR Core Selection ETFs keep one-off trades cheap.
Watch out. No savings plans or fractions, 4.90 EUR on Euronext/Xetra, connectivity fees and 20 EUR per line to transfer out.
All fees and features
- Spanish shares
- BME: 1.00 EUR commission + 1.00 EUR handling = 2.00 EUR (max order 50,000 EUR).
- European shares
- Euronext, Xetra: 3.90 EUR + 1.00 EUR handling; Tradegate shares 3.90 EUR (no handling fee).
- US shares
- NYSE/Nasdaq: 1.00 EUR + 1.00 EUR handling.
- ETF orders
- Core Selection (1,000+ ETFs/ETCs/ETNs on Tradegate): 0 EUR + 1.00 EUR handling; other ETFs 2.00 EUR + 1.00 EUR.
- Currency exchange
- AutoFX 0.25%; manual FX 10.00 EUR + 0.25%.
- Custody fee
- 0 EUR custody and inactivity; connectivity fee 2.50 EUR per foreign market per year (max 0.25% of account; not for BME or Core Selection); transfer out 20 EUR per line.
- ETF range
- 1,000+ products in the Core Selection; more on other exchanges.
- Savings plans
- No automatic savings plans found on pages checked.
- Fractional shares
- Not offered per pages checked.
- Spanish tax
- Annual report for tax returns; no Spanish withholding; custody outside Spain, so Modelo 720 applies above 50,000 EUR (AEAT rule).
- Protection
- flatexDEGIRO Bank SE (BaFin; Dutch branch AFM/DNB); German investor compensation 90% up to 20,000 EUR; cash 100,000 EUR deposit guarantee.
Sources: degiro.es: tarifas · degiro.es: relacion de tarifas.pdf · degiro.es: etf core selection · degiro.es: que tipo de informes puedo descargarme… · degiro.es: solido y fiable · agenciatributaria.gob.es: forma calcular limite que obliga declar…
Openbank
6.3/10
Profile: Flat 1 EUR trades at a Spanish bank
- Commissions
- 8.5
- Currency exchange
- 3
- ETF offer
- 5.5
- Other advantages and costs
- 6
Why it ranks here. A flat 1 EUR on every market at a Spanish bank is very cheap for euro trades.
Watch out. A 0.70% FX spread (1% from 10-11-2026), 0.25% (min 1.50 EUR) on each dividend and 0.30% to transfer out.
All fees and features
- Spanish shares
- 1.00 EUR per trade, any amount (plus Spanish FTT where applicable).
- European shares
- 1.00 EUR per trade.
- US shares
- 1.00 EUR per trade, plus FX spread.
- ETF orders
- 1.00 EUR per trade.
- Currency exchange
- Spread of +/-0.70% on the Banco Santander fixing; rises to 1% from 10-11-2026.
- Custody fee
- 0% custody; dividend collection 0.25% (min 1.50 EUR); transfer of securities to another entity 0.30% of value.
- ETF range
- More than 1,200 ETFs and 4,000 shares.
- Savings plans
- No automatic ETF savings plans found on pages checked.
- Fractional shares
- Not offered per pages checked.
- Spanish tax
- Spanish bank (Open Bank S.A.); no official page found stating 720 exemption or AEAT reporting for the broker.
- Protection
- Open Bank S.A., Grupo Santander; deposit/investor scheme not confirmed on pages checked.
Sources: openbank.es: invertir bolsa valores · openbank.es: invertir etfs · openbank.es: tarifas broker abreviadas es.pdf
ING Broker Naranja
6.1/10
Profile: ING customers who want no Modelo 720 paperwork
- Commissions
- 5.5
- Currency exchange
- 7
- ETF offer
- 5
- Other advantages and costs
- 7.5
Why it ranks here. No Modelo 720 and a 0.25% FX rate, but per-trade costs are high for small orders.
Watch out. 3 EUR + 0.10% per trade at base tariff and a custody fee if you skip a quarter without trading.
All fees and features
- Spanish shares
- Base tariff (under 15 trades/quarter): 3 EUR + 0.10%, max 20 EUR for orders under 50,000 EUR. Reduced (15+ trades): 1.5 EUR + 0.05%.
- European shares
- Germany, France, Netherlands, Italy, Belgium, Portugal, Finland: 3 EUR + 0.10% (base).
- US shares
- 3 USD + 0.10% (base), plus 0.25% FX.
- ETF orders
- Same as shares: 3 EUR + 0.10% (base).
- Currency exchange
- 0.25% currency exchange.
- Custody fee
- 0 EUR if at least one share/ETF trade per calendar quarter; otherwise 4.84 EUR (VAT incl.) per security class per quarter.
- ETF range
- More than 1,000 ETFs, ETCs and ETNs; 7,000+ shares.
- Savings plans
- No automatic ETF savings plans found on pages checked.
- Fractional shares
- Not offered per pages checked.
- Spanish tax
- ING says Broker Naranja clients do not need to file Modelo D-6 or 720 and get the data for their tax return.
- Protection
- ING Bank NV, Sucursal en Espana; protection scheme not confirmed on pages checked.
Sources: ing.es: broker · ing.es: tarifasaplibroker.pdf
Also considered
- eToro: 1 or 2 USD per share trade (by country of residence), fees calculated in USD; ETF trades are commission-free and EUR local accounts exist, but its EUR to USD conversion cost could not be confirmed and no Spanish withholding was found.
- Freedom24 (Freedom Finance Europe, CySEC): Smart plan charges 2 EUR per order plus 0.02 EUR per share, 7 EUR per withdrawal and 100 EUR per external securities transfer.
- Revolut (stocks): Standard plan has no commission-free trades, FX above 1,000 EUR a month carries a 1% fair-use fee, investor handles Spanish taxes; personal fee table not confirmed.
- Renta 4: its pages quote national orders from 2 EUR (flat-rate offer; price list shows 0.10% up to 6,000 EUR plus a 1 EUR exchange fee) and international orders of 15 EUR (0.15% above 30,000 EUR), plus monthly custody of 0.0125-0.017% and dividend collection fees.
- Selfbank (Singular Bank): 6.95 EUR per Spanish order up to 6,000 EUR, US 0.25% (min 15 EUR), custody fees if fewer than 3 trades a month per market.
- Bankinter broker: international orders 20 EUR up to 40,000 EUR, custody 0.04-0.05% per quarter (min 6 EUR per security), FX spread +/-1%, dividend fee 0.30%.
- Inversis: mainly a custody/platform bank for other firms (e.g. MyInvestor); no current retail tariff found on its site.
What remains unverified
- No synchronized cross-broker spread, market-depth, slippage or effective-conversion sample is available. Unknown execution costs must not be treated as zero.
- Trade Republic: number of UCITS ETFs available in Spain, and whether Spanish shares execute on BME.
- Trade Republic: minimum savings plan amount (site says investing from 1 EUR, plan minimum not stated separately).
- Scalable Capital: direct access to BME-listed Spanish shares; whether the 2022 promise of Spain-specific tax reports still applies; investor compensation scheme for securities.
- Trading 212: which EU entity (CySEC or BaFin) serves Spanish residents; number of ETFs; transfer-out fee; Spanish tax report.
- XTB: Spanish tax report availability; inactivity fee (none listed on the tariff page); exact investor compensation scheme behind the 20,100 EUR figure.
- Lightyear: availability of BME-listed Spanish shares; number of ETFs; savings plan minimum.
- Interactive Brokers: custody/inactivity fees for IBIE retail accounts; Spanish-format tax report.
- MyInvestor: automatic periodic plans specifically for ETFs (confirmed only as scheduled periodic orders).
- DEGIRO: availability of automatic savings plans or fractional ETFs in Spain.
- Openbank: Modelo 720 exemption and AEAT reporting for broker clients; protection scheme for securities; ETF savings plans.
- ING Broker Naranja: investor and deposit protection scheme; savings plans or fractions.
- Revolut: personal share/ETF commission schedule for Spain (Standard plan); number of ETFs eligible for free plans.
- eToro: EUR to USD conversion fee for Spanish accounts; Spanish tax report content.
- Freedom24: currency conversion fee (only shown on the platform).
- Inversis: current retail tariff (only a 2008 promotional tariff page found).
Is my money protected?
Brokers serving Spanish residents are supervised by the CNMV and the Bank of Spain or, for firms from another EU country, by their home regulator under an EU passport. If a broker fails and clients' securities are missing, investor compensation schemes pay at least €20,000 per person (Spain's FOGAIN pays up to €100,000); cash held at a bank is covered by deposit guarantees of up to €100,000. None of them covers investment losses.
Taxes in Spain
Brokers based outside Spain usually do not withhold Spanish tax, so you declare gains and dividends yourself. If the securities and accounts you hold abroad add up to more than €50,000, the Spanish Tax Agency requires an information return, Modelo 720. Spanish banks, and foreign brokers with a Spanish branch that report to the Tax Agency, can spare you part of that work; each card says what we found for that broker.
How we score
The partial editorial score uses four criteria: commissions 35%, currency exchange 15%, etf offer 25%, other advantages and costs 25%. It is a weighted judgment about published fees, features and account conditions, not a measurement of total realized cost. Execution is reviewed separately and remains unmeasured; no missing spread is entered as zero and no execution advantage is awarded without comparable evidence. Cash interest and temporary promotions are excluded.
Each broker gets 0-10 on four criteria, weighted: commissions 35% (order fees for BME, other European and US shares and ETFs, custody, savings-plan fees, judged on a few orders of 1,000-3,000 EUR a month), currency exchange 15%, ETF offer 25% (range, free ETFs, automatic plans, fractions) and other advantages and costs 25% (account and transfer fees, investor protection, Spanish tax handling and Modelo 720). Interest on uninvested cash is ignored. Every number comes from the broker's own Spanish-facing pages or price lists, or the Spanish Tax Agency, checked on 2026-10-17; the total is the weighted average rounded to one decimal. Correction on 17 October 2026: Trade Republic and Scalable FX scores changed from 9 to 4 because EUR execution or no headline FX fee does not prove zero implicit conversion cost. This is the same conservative uncertainty rating used in Germany, not a measured spread penalty. All totals and the order were recalculated. No comparable execution sample exists, so this is a partial editorial comparison, not a ranking of total realized cost.
Fee claims link to broker price lists, schedules or help pages checked on 17 October 2026. Missing or incomplete items remain visible. Scores are editorial judgments, not factual measurements; differences of a few tenths should not imply a precise or universal preference. No affiliate links: Plain Economy earns nothing from any broker on this page, and no broker has seen or paid for it.
Other countries
Trading platforms in Germany: a provisional comparison
Trading platforms in Singapore: a provisional comparison
Trading platforms in Japan: a provisional comparison
Trading platforms in the United States: a provisional comparison
Trading platforms in the UK: a provisional comparison