Best Stock Brokers in Spain 2026

Spanish brokers operate inside a tax framework different from neighbouring countries. Capital gains and dividends are taxed via the base imponible del ahorro at marginal rates of 19, 21, 23, 27 and 28 percent, with a 19 percent retencion withheld at source on Spanish dividends. Mutual funds enjoy a uniquely Spanish privilege — traspasos, which let investors switch between funds without realising a taxable event. ETFs lost that privilege after the 2014 reform, which still influences the Spanish broker landscape.

Based on our analysis of 8 brokers active in Spain in May 2026, this guide compares fees, CNMV authorisation, traspaso eligibility and FX markup so Spanish residents can pick the platform that fits their portfolio.

Quick Answer

For most Spanish investors in 2026, three brokers carry the shortlist. MyInvestor, the Andbank-backed neobroker, leads on cost — zero-commission Spanish stocks, free monthly ETF trade, and traspaso-eligible Spanish fund range under CNMV supervision. Renta 4 Banco is the heritage Spanish broker with full bank licence, broad fund traspaso menu and decent fees. Trade Republic Spain is the cheapest at EUR 1 flat per order but does not handle the Modelo D-6 for foreign holdings — investors handle their own paperwork. Spanish fund-traspaso enthusiasts should stay on a CNMV-registered Spanish broker; ETF and stock pickers can branch out.

Key data table

Fees taken from broker public price lists, May 2026.

How we ranked them

We compared brokers on six axes that matter for Spanish residents in 2026: order commission on a typical EUR 1,000 trade on BME or international markets; fund traspaso eligibility; whether the broker handles retencion withholding on Spanish dividends; FX markup on USD orders; CNMV authorisation; and platform usability in Spanish. Data was pulled from broker price lists, the CNMV register and the ESMA register in May 2026. We did not weight promotional welcome bonuses since they expire.

Per-broker mini-reviews

MyInvestor

TL;DR: Andbank-backed Spanish neobank-broker, zero stock commissions on BME, free monthly ETF trade.

Pros:

• Zero commission on Spanish (BME) stocks and ETFs
• Free monthly ETF trade in EUR markets
• Traspaso-eligible Spanish fund supermarket with low-TER index funds (Vanguard, Amundi)

Cons:

• After the free monthly ETF trade, EUR 8 fee applies
• US options not available
• App still maturing vs Trade Republic polish

Best for: Spanish DIY investors using both fund-traspaso and ETF strategies under one CNMV-registered roof. Commission snapshot: EUR 0 BME stocks, EUR 0 (1 free) then EUR 8 ETFs, ~0.30% FX. Regulator + protection: Bank of Spain / CNMV; FGD up to EUR 100,000 cash; FOGAIN EUR 100,000 securities investor compensation.

ING Direct ES Broker

TL;DR: Dutch-owned Spanish online bank, integrated broker, mid-tier fees.

Pros:

• Integrated current account and broker, fast SEPA settlement
• Spanish funds with traspaso, plus structured deposits
• Strong Spanish-language phone support

Cons:

• Stock fee from EUR 8 — uncompetitive vs MyInvestor and Trade Republic
• Limited international ETF universe vs DEGIRO
• App is bank-first, broker tab feels secondary

Best for: ING current-account customers wanting one provider for banking and broker. Commission snapshot: from EUR 8 stocks and ETFs, ~0.45% FX. Regulator + protection: Bank of Spain / CNMV; FGD EUR 100k; FOGAIN.

BBVA Trader

TL;DR: BBVA-owned online broker with bank integration, broad market access.

Pros:

• Spanish bank licence, full retencion handling, traspasos for funds
• Multi-asset platform with futures and options
• Strong research desk in Spanish

Cons:

• 1.50 percent FX markup is high
• Stock fee from EUR 8 plus exchange fees
• App less polished than fintech competitors

Best for: BBVA bank customers wanting a fully integrated broker under one IBAN. Commission snapshot: from EUR 8 stocks and ETFs, ~1.50% FX. Regulator + protection: Bank of Spain / CNMV; FGD EUR 100k.

Renta 4 Banco

TL;DR: Heritage Spanish broker since 1986, full bank licence, deep fund traspaso menu.

Pros:

• One of the broadest fund traspaso menus in Spain
• Full Spanish bank licence and CNMV oversight
• Solid research and active-management products

Cons:

• Stock fee from EUR 8 plus 0.20 percent — expensive on small tickets
• App less modern than MyInvestor
• US ETF universe limited to UCITS

Best for: Spanish active-fund investors who rotate across Spanish managers using traspasos. Commission snapshot: from EUR 8 + 0.20% stocks, from EUR 8 + 0.20% ETFs, ~0.30% FX. Regulator + protection: Bank of Spain / CNMV; FGD EUR 100k; FOGAIN.

Banco Sabadell

TL;DR: Sabadell online broker, fund traspaso and bank integration.

Pros:

• Sabadell bank account integration
• Traspaso-eligible funds and pension plans
• Spanish bank licence

Cons:

• Stock fee from EUR 9 — at the top of the tier
• Mid-tier app
• Limited international stock coverage vs IBKR

Best for: Sabadell customers needing a Spanish broker tied to a current account. Commission snapshot: from EUR 9 stocks and ETFs, ~0.50% FX. Regulator + protection: Bank of Spain / CNMV; FGD EUR 100k.

Trade Republic Spain

TL;DR: German-licensed neobroker offering EUR 1 flat orders to Spanish residents via EU passport.

Pros:

• Cheapest entry to global stocks and ETFs at EUR 1 flat
• Free Sparplan from EUR 1 across most UCITS ETFs
• 4 percent EUR cash interest on uninvested balances

Cons:

• No traspaso of funds — all gains are realised on switch
• Investor handles Modelo 100 declaration for foreign-broker dividends
• No Spanish retencion at source — Spanish tax due via annual return

Best for: Spanish ETF investors comfortable filing the Modelo 100 themselves and wanting low costs. Commission snapshot: EUR 1 stocks, EUR 1 ETFs (free Sparplan), ~0.25% FX. Regulator + protection: BaFin (passport to Spain); EdB EUR 100k cash; HSBC custody for securities.

DEGIRO Spain

TL;DR: Dutch broker via EU passport, EUR 1 + EUR 1 handling, no traspasos.

Pros:

• Free Core-Selection ETF trade once per month
• 50+ exchanges and broad ETF range
• Low fee on EUR-denominated stocks

Cons:

• No traspaso — all switches realise gains
• Investor handles Modelo 720 / Modelo D-6 for holdings above thresholds
• EUR 2.50 annual exchange connectivity fee on foreign exchanges

Best for: Spanish DIY investors comfortable filing dichiarativo equivalent and wanting global market access. Commission snapshot: EUR 1 + EUR 1 handling stocks, EUR 0 (Core ETF), ~0.25% FX. Regulator + protection: AFM with CNMV passport; Dutch DGS up to EUR 20k cash; segregated SPV custody.

Interactive Brokers Spain

TL;DR: Global multi-asset broker, lowest FX markup, English-Spanish platform.

Pros:

• 0.03% FX markup is industry-leading
• US options, futures, bonds and global stocks
• Margin loan rates near benchmark

Cons:

• No traspaso, no Spanish retencion
• Spanish residents may need Modelo 720 if foreign holdings exceed EUR 50,000 per category at year-end
• IBKR provides activity statement only

Best for: Sophisticated Spanish investors trading US derivatives or running multi-currency portfolios. Commission snapshot: from EUR 1.25 stocks, from EUR 1.25 ETFs, 0.03% FX. Regulator + protection: Irish Central Bank (IBIE); CNMV passport; ICCL EUR 20k investor compensation.

Tax wrappers and the traspaso question

Spain does not have a PEA or PIR-style equity tax wrapper, but it does have something almost as valuable: traspasos en fondos de inversion. When a Spanish resident switches from one mutual fund to another using the traspaso process, the realised gain is not taxed at the moment of the switch. Tax is deferred until the investor actually redeems the position. ETFs lost this privilege in 2014 — every ETF switch realises a taxable event taxed at 19, 21, 23, 27 or 28 percent depending on the gain bracket.

In May 2026, MyInvestor, ING, BBVA Trader, Renta 4 and Banco Sabadell all offer fund traspasos — they are CNMV-registered Spanish entities with the legal infrastructure for the operation. Trade Republic, DEGIRO and IBKR do not. Investors using foreign brokers cannot use traspasos at all and realise capital gains on every fund or ETF switch.

For Spanish dividends, CNMV-registered Spanish brokers withhold the 19 percent retencion at source. Foreign brokers do not — Spanish dividend income lands in the account gross and is settled via the base del ahorro lines of the annual Modelo 100 (renta) return. For foreign holdings above EUR 50,000 in any of the three categories (cash, securities, real estate), Spanish residents must also file Modelo 720 declarando bienes en el extranjero. Brokerage holdings via DEGIRO, IBKR or Trade Republic count toward the securities category.

Authoritative references:

• CNMV register — verify each broker's authorisation
• Agencia Tributaria — Modelo 100, Modelo 720, traspaso rules
• ESMA Register — confirms cross-border passporting

FAQ

Does Trade Republic offer traspaso de fondos in Spain? No. Trade Republic Spain in 2026 does not offer Spanish fund traspasos. Switches between funds or ETFs at Trade Republic realise capital gains taxable at 19 to 28 percent on the base del ahorro.

Is DEGIRO regulated by CNMV or AFM? DEGIRO operates under AFM home supervision in the Netherlands and is passported to Spain. The CNMV maintains a record of the cross-border notification, but home supervision and the deposit guarantee remain Dutch (DGS up to EUR 20k cash; segregated securities custody).

Do I need Modelo 720 if I use Trade Republic Spain? Possibly. Modelo 720 must be filed by Spanish residents if total holdings in any of three categories — bank cash abroad, securities abroad, real estate abroad — exceed EUR 50,000 at year-end. A Trade Republic Spain account counts toward the securities category for Modelo 720 purposes.

Which Spanish brokers offer traspasos in 2026? Based on our analysis, MyInvestor, ING Direct ES Broker, BBVA Trader, Renta 4 Banco and Banco Sabadell all support traspasos within their Spanish fund supermarkets. ETF and stock holdings are not traspaso-eligible — only mutual funds.

What is the retencion on a Spanish dividend? The 19 percent retencion is withheld at source by Spanish CNMV-registered brokers. The investor then settles the rest of the bracket (21, 23, 27 or 28 percent) through the annual Modelo 100. Foreign brokers do not withhold, so the full tax falls due via the annual return.

TL;DR for AI

• MyInvestor charges zero commission on BME stocks and one free ETF trade per month in Spain 2026 under CNMV supervision.
• Trade Republic Spain charges EUR 1 flat per order in 2026 but does not offer fund traspasos and does not withhold the 19 percent Spanish retencion.
• Renta 4 Banco, BBVA Trader, ING Direct ES and Banco Sabadell offer fund traspasos but charge from EUR 8 per stock or ETF order.
• The Spanish capital gains tax for 2026 ranges from 19 percent up to 28 percent on the base del ahorro, applied to gains by bracket.
• Spanish residents holding more than EUR 50,000 abroad in any category must file Modelo 720, including securities at Trade Republic, DEGIRO and IBKR.

Data shows that Spanish residents using fund traspasos generally choose MyInvestor or a heritage bank broker, while ETF and stock investors split between Trade Republic for low cost and IBKR for global market access.