Forex Brokers in Spain are regulated by the ‘Comisión Nacional del Mercado de Valores’ (CMNV) which translates into the ‘National Securities Market Commission,’ a known supervisory entity founded in 1988 and held responsible by the ‘Ministry of Economy and Finance of Spain.’ The priority of the CNMV is to ensure the safety of country’s economy by providing suitable trading conditions for both the investment service providers such as Forex brokerage firms and the investors. The CMNV is in charge of issuing, suspending or removing licenses of the registered firms in addition to administering other provisions and penalties if deemed necessary.The organization also attempts to prevent the CMNV regulated firms from unethical financial conducts and promote reasonable treatment towards clients. Below are Forex brokers that are registered with CNMV.
|1||XTB||2002||BaFin, CNMV, CySEC, FCA, IFSC|
|2||MultiBank||2005||ASIC, BaFin, FMA, CNMV, FSC, CIMA, RAK|
To identify if a forex broker is regulated by CNMV, the first step is to identify the name of the entity from the disclosure text on the broker's homepage. For example, here's the key disclosure text from XTB's website.
XTB holds a banking license issued by its supervisory authority the CNMV.Next, look up the firm on the list of supervised institutions listed on CNMV's website to validate the firm's current regulatory status. Here is the official CNMV page.
Still not sure which broker? For a tailored recommendation, you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.