Best IBEX 35 (Spain) Brokers 2026
Discover the best brokers with access to Spain’s IBEX 35 Index following our rigorous hands-on testing.
Written ByRoyston Wild
Royston is a seasoned investor and financial writer with over a decade of experience analyzing brokers and investment markets. With a background in stocks, commodities, and forex reporting - he brings a fresh perspective to broker evaluations.
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Fact Checked ByJames Barra
James is an experienced broker analyst with a background in financial services. He has spent 2,500+ hours testing brokers, used 35+ different platforms and apps, audited 120+ broker T&Cs, and verified 300+ regulatory licenses. James has also been on US, UK and German TV, and been a guest on finance podcasts, discussing reports conducted by BrokerListings.com and sharing his expertise.
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Edited ByTobias Robinson
Tobias is committed to helping traders find the right brokerage for their needs. He has tested 200+ brokers, spent 2,600+ hours using different platforms, and placed 2,100+ trades.
Tobias Robinson Profile PageAugust 6, 2026
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1Interactive Brokers (IBKR) is a leading brokerage offering access to over 170 markets in 40 countries and a range of investment services. With 40+ years in the industry, this Nasdaq-listed company follows strict regulations by the SEC, FCA, CIRO, and SFC, making it a trusted global trading broker.
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2Founded in 2001, FOREX.com is part of StoneX, a global financial services firm with over a million customers. Regulated in the US, UK, EU, Australia, and other regions, it offers thousands of markets, not just forex, with competitive pricing on advanced platforms.
Compare Brokers
| Broker |  |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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✓ | ✓ | $0 | $100 | 1:50 (major forex pairs), 1:2-1:4 (equities) | ✗ | SEC, FINRA, CFTC, NFA, CIRO, FCA, CBI, ASIC, SFC, SEBI, JFSA, MAS | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies, CFDs Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF | Capitalise.ai, TWS API | ✓ | ✗ | |
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✓ | ✓ | $100 | 0.01 Lots | 1:50 | ✗ | NFA, CFTC | Forex, Futures and Options on Metals, Energies, Commodities, Indices, Bonds Forex, CFDs, Stock CFDs, Indices, Commodities, Futures, Options, Crypto | WebTrader, Mobile, MT4, MT5, TradingView | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN | Expert Advisors (EAs) on MetaTrader | ✓ | ✗ | |
| Broker | |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
Safety Comparison
Compare how safe the Best IBEX 35 (Spain) Brokers 2026 are.
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
|---|---|---|---|---|
|
✗ | ✓ | ✓ | |
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✗ | ✓ | ✓ | |
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
Mobile Trading Comparison
Compare the mobile trading features of the Best IBEX 35 (Spain) Brokers 2026.
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
|---|---|---|---|---|
|
iOS & Android | ✓ | ||
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iOS & Android | ✗ | ||
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
Comparison for Beginners
Compare how suitable the Best IBEX 35 (Spain) Brokers 2026 are for beginners.
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
|---|---|---|---|---|---|---|---|
|
✓ | $0 | $100 | ✓ | ✗ | ||
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✓ | $100 | 0.01 Lots | ✗ | ✗ | ||
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
Comparison for Advanced Traders
Compare how suitable the Best IBEX 35 (Spain) Brokers 2026 are for advanced or professional traders.
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
|---|---|---|---|---|---|---|---|---|
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Capitalise.ai, TWS API | ✗ | ✓ | ✓ | ✗ | 1:50 (major forex pairs), 1:2-1:4 (equities) | ✓ | ✓ |
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Expert Advisors (EAs) on MetaTrader | ✓ | ✓ | ✓ | ✗ | 1:50 | ✓ | ✗ |
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
Accounts Comparison
Compare the trading accounts offered by Best IBEX 35 (Spain) Brokers 2026.
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
|---|---|---|---|---|---|---|---|---|---|
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✓ | USD: 3.14%, GBP: 3.24% | ✗ | ✓ | ✓ | ✗ | ✓ | ✗ | ✗ |
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✓ | ✗ | ✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
Detailed Rating Comparison
Compare how we rated the Best IBEX 35 (Spain) Brokers 2026 in key areas.
| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
|---|---|---|---|---|---|---|---|---|---|
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| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
Fee and Cost Comparison
Compare the cost of trading with the Best IBEX 35 (Spain) Brokers 2026.
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
EUR/USD Spread |
Crypto Spread |
|---|---|---|---|---|---|
|
✗ | $0 | 0.08-0.20 bps x trade value | 0.12%-0.18% | |
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✗ | $15 | 1.2 | BTC 1.4%, ETH 2% | |
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
EUR/USD Spread |
Crypto Spread |
Customer Ratings
Compare how customers of these brokers feel about them, with real user ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Customers |
Trustpilot Score |
Trustpilot Reviews |
Android App Rating |
iOS App Rating |
|---|---|---|---|---|---|
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4,300,000 | 5,398 | |||
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450,000 | 2,420 | |||
| Broker | Customers |
Trustpilot Score |
Trustpilot Reviews |
Android App Rating |
iOS App Rating |
Broker Popularity
See how popular the Best IBEX 35 (Spain) Brokers 2026 are in terms of number of clients.
| Broker | Popularity |
|---|---|
| Interactive Brokers |
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| FOREX.com |
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Why Trade With Interactive Brokers?
Interactive Brokers is ideal for seasoned traders due to its robust charting platforms, updated data, and adaptability, especially with the IBKR Desktop application. Its exceptional pricing and advanced order features appeal to traders, and its variety of stocks remains unmatched in the market.
Pros
- The TWS platform is designed for intermediate to advanced traders. It includes over 100 order types and a dependable real-time market data feed that rarely experiences downtime.
- IBKR offers exceptional access to global stocks, with thousands of equities available from over 100 market centers in 24 countries, including the recent addition of the Saudi Stock Exchange.
- IBKR provides a cost-effective platform for traders by offering low fees, narrow spreads, and clear pricing.
Cons
- TWS is complex, and beginners might find it difficult to use and understand all its features.
- Only one active session per account is allowed, which means you can't run the desktop version and mobile app at the same time. This can sometimes lead to a frustrating trading experience.
- In 2025, IBKR was fined $11.8 million by the US OFAC for offering services in restricted areas. It also faced a $125,000 fine from FINRA in 2025 for failing to disclose municipal bond information.
Why Trade With FOREX.com?
FOREX.com is a top-tier brokerage suitable for forex traders of all skill levels. It offers more than 80 currency pairs, has small spreads starting from 0.0 pips, and features low fees. The platform provides powerful charting tools that include over 100 technical indicators and multiple research aids.
Pros
- The in-house Web Trader is a top platform for new traders, featuring a sleek design and over 80 technical indicators for market analysis.
- FOREX.com provides top-tier forex pricing beginning at 0.0 pips. They also offer competitive cashback rebates up to 15% for dedicated traders.
- FOREX.com has over 20 years of experience with strong regulatory oversight, and has received multiple awards, including second place in our 'Best Forex Broker' awards. As such, FOREX.com is globally reputed as a reliable trading brokerage.
Cons
- FOREX.com, part of GAIN Capital Group LLC, paid a $700,000 fine to the NFA for mismanaging client accounts.
- US clients do not have negative balance protection, so you can potentially owe more than your original account deposit.
- Demo accounts have a limited time duration of 90 days, which may not be sufficient for thoroughly testing trading strategies.
Filters
How We Choose The Top IBEX 35 Brokers
Our comprehensive testing process comprises the following four steps:
- Opening a trading account with each brokerage in our expanding database, then logging which ones provide access to the IBEX 35.
- Establishing that each broker is regulated by a top national regulator, such as Spain’s Comisión Nacional del Mercado de Valores (CNMV). This particular watchdog has been awarded Category A status by BrokerListings.com’s proprietary scoring system, meaning investors receive excellent levels of protection.
- Evaluating the strengths and weaknesses of each service provider. Trading costs, the range of financial markets they allow access to, and the quality of their online trading platform are among the key factors we consider.
- Periodically confirming each broker’s regulatory status. Regulators can suspend or cancel an operator’s license when they identify poor business practices or fraud. Keeping up to date with this is therefore essential.
Brokers are granted an overall ranking by BrokerListings.com after we combine more than 200 data points, as well as the views of our hands-on testers. Companies that provide access to the IBEX 35 index are then sorted by this rating.
How Should I Choose A Broker To Trade The IBEX 35?
Generally speaking, retail investors in Spain tend to participate less in their domestic stock market than investors in many other countries, especially those in other major European economies, North America and parts of Asia.
However, the range of brokerages offering access to the Bolsas y Mercados Españoles (BME) is growing. And as the CNMV co-ordinates measures to boost retail participation in Spain’s markets, the number of financial service providers is tipped to increase further as retail participation improves.
What are the key factors to consider when choosing a broker to trade the IBEX 35? Here are the four most important things to think about, whether you’re based in Spain or overseas:
Trustworthiness
Investment fraud is rising in terms of both frequency and complexity as online retail trading grows. Annual data from the CNMV revealed the presence of at least 458 ‘boiler room’ scams in Spain. The regulator also issued 71 fines for fraud and poor business practices.
Other global regulators have reported a similar boom in market misconduct. So it’s critical to verify that the brokerage you’re considering is regulated by a top financial watchdog like the CNMV.
Pro tip: BrokerListings.com has created a comprehensive ranking system to help you find one of these top-tier regulators. These organizations tend to maintain an online database (such as CNMV’s ‘Companies Search’ facility) that makes finding an authorized broker simple.
The CNMV has been assigned Category A status under BrokerListings.com’s rating system, meaning traders can expect ‘excellent’ levels of protection from bad actors. They can also have confidence in the transparency and functioning of Spain’s stock market.
Investors in Spain could consider using a broker that’s been licensed by any regulatory body in the European Union (EU). This is because all watchdogs in the trading bloc have to follow strict legislation (like the Markets in Financial Instruments Directive II (MiFID II)), along with rules laid down by the European Securities and Markets Authority (ESMA).
Pro tip: Under MiFID II rules, a broker that’s regulated in one European Economic Area (EEA) country is allowed to ‘passport’ their services into any other member state without requiring additional authorization.
The EEA comprises all 27 EU nations along with Norway, Iceland and Liechtenstein. But beware: regulators in these three countries only carry Category B or Category C status under our proprietary scoring system. So if you’re considering a broker that’s authorized in this trio, also check they’re regulated by a Category A regulator.
Using an EEA-regulated broker has other advantages. These include:
- Negative balance protection, where an investor can’t lose more money than they deposit in their trading account.
- Leverage limits on contracts for difference (CFDs). For instance, if you’re trading one of these derivative products to gain exposure to individual IBEX 35 shares, you can only use leverage of up to 1:5.
- Access to an investor compensation scheme, which can help investors reclaim lost funds if their broker becomes insolvent. In Spain this is the Fondo General de Garantía de Inversiones (FOGAIN), which covers investors up to a maximum of €100,000 for eligible claims.
For individuals outside the EU that plan to trade IBEX 35 securities or linked derivatives, we recommend looking for Category A regulators in your jurisdiction.
Top IBEX 35 broker for trustworthiness: XTB has been offering financial services for roughly a quarter of a century, and its shares trade on the Warsaw Stock Exchange (WSE).
XTB hasn’t received direct authorization by the CNMV to offer services in Spain. However, it has been approved by Poland’s Komisja Nadzoru Finansowego and the Cyprus Securities and Exchange Commission (CySEC), allowing it to offer its services to citizens in Spain.
XTB’s entry on the Komisja Nadzoru Finansowego broker database. Source: KNF
Range Of Markets
There are plenty of ways to gain exposure to the IBEX 35 today. Investors can purchase:
- Individual stocks.
- Exchange-traded funds (ETF) that track the broader index.
- Futures.
- Options.
- CFDs.
- Spread bets.
Some brokerages will provide direct market access by letting you buy shares and ETFs on the BME. Others, however, will only allow investors to speculate on shares and indices using derivatives. With some research, you’ll be able to find service providers that offer both routes.
Think carefully about whether you prefer direct or indirect exposure to Spain’s blue-chip companies. Depending on your investing style, you might want both options available.
For instance, buying a CFD based on Telefónica stock may be preferable to you if you want to use leverage. But then you won’t be entitled to certain shareholder perks (like dividends and voting rights), unlike individuals who hold actual shares.
Pro tip: The IBEX 35 is reviewed quarterly by the Technical Advisory Committee, which can decide to add or remove companies based on their market capitalization, liquidity and trading volumes.
As a result, it’s worth considering a broker that offers broader access to Spanish stocks, including the IBEX Medium Cap index. This tracks the 20 largest stocks outside the IBEX 35, and includes high-calibre companies which may have also been (or may be about to) join the blue-chip index.
Top IBEX 35 broker for range of markets: Interactive Brokers offers both direct and indirect access to the IBEX 35, as well as exposure to a plethora of companies outside the large-cap index.
For those wishing to trade derivatives, Interactive Brokers allows you to buy and sell futures and options linked to Spanish stocks on the Mercado Oficial de Futuros y Opciones Financieros (MEFF). It offers CFDs for dealing in local equities too.
Trading Platform
What makes the best trading software is highly subjective. Some things are down to personal taste, like a platform’s color scheme or menu and button placement. Other factors are more tangible — for instance, whether the broker provides advanced charting tools for technical analysis, or automated trading tools.
However, there are certain characteristics all investors should demand when choosing a broker based on their trading platform. These include:
- Fast execution speeds.
- Access to real-time market data, including streaming pricing on IBEX 35 shares.
- A stable platform during busy periods (such as when the Instituto Nacional de Estadística (INE) releases inflation, unemployment or GDP data).
- Fully customizable menus, charts and buttons.
- Access to news and data feeds providing economic, financial and market information.
- Customer service that’s close at hand during BME and MEFF’s trading hours.
- Availability of risk management tools, and especially for higher-risk products like share CFDs.
Top IBEX 35 broker for trading platform: eToro’s web platform is intuitive, and can be accessed via desktop or smartphone. Unlike many brokers, its mobile app works on both Apple and Android devices.
Chartists are kept happy with its integrated tools provided by TradingView, while copy traders are also well catered for through the broker’s CopyTrader facility. Furthermore, eToro lets traders refine their trading strategies with virtual cash in one of its demo accounts.
Analysing Telefonica shares using eToro’s trading platform. Source: eToro
Trading Costs
All top global regulators require brokerages to provide full and clear lists of the fees and charges their customers can expect. It pays to carefully pore over these — over time, these can add up to a significant chunk of cash.
In the EU, brokers are required to publish all the fees they charge customers, including:
- Trade commissions.
- Management and subscription fees.
- Deposit and withdrawal costs.
- Account inactivity fees.
- Portfolio management costs and advisory fees (if applicable).
- Minimum bid (buy) and ask (sell) spreads.
- Currency conversion charges.
It’s important not to look at these fees just in isolation, however. A broker may charge more to use their investment platform, but if they offer a better service — for instance, by offering access to more advanced charting tools or educational resources — this may be a price worth paying if it boosts your trading performance.
Think about your trading style, and which broker is best for you based on the way they structure their fees. Plus500 would charge a zero commission for trading International Airlines Group (IAG)-backed CFDs, making it potentially a strong option for high-volume traders. But in this case, you’d need to keep an eye on other costs, and especially the size of its spreads.
Pro tip: Retail and institutional investors don’t pay the BME directly for using its exchange to buy and sell shares and other instruments. These are paid by market members and liquidity providers, like brokers who may choose to pass on these costs to their customers in some form.
For IBEX 35 shares, members pay a fixed transaction fee plus a small fee based on the value of the trade. Transactions typically incur a charge of up to €1.00, plus a variable fee of 0 to 1 basis point of the value of the trade.
If I’m trading in Spain or another eurozone country, I might want to use a euro (EUR)-denominated account to save on foreign currency charges. This is because all BME-listed securities are denominated in euros. Not all brokers offer this service, however.
Top IBEX 35 broker for trading costs: Pepperstone offers competitive pricing across a wide spectrum of financial markets. This includes low commissions when trading share and index CFDs; no charges for account maintenance, deposits or withdrawals; and there are no inactivity fees, which is perfect for infrequent traders.
To put the cherry on top, Pepperstone operates a ‘no minimum deposit’ policy.
How Can I Begin Trading The IBEX 35?
The journey from stock market observer to buyer and seller of IBEX 35 stocks comprises three steps:
- Comparing brokers. The market is highly competitive, and brokers are increasingly focusing on value to tempt new customers. But as I’ve shown, the best broker for me doesn’t just come down to trading costs. I should take time to consider all aspects of the broker’s service.
- Registering for an account. With my broker selected, I’ll need to submit personal information like my name, date of birth, address and source of employment for my application to be processed. If the company’s authorized by a top-tier regulator like Spain’s CNMV, I’ll also be asked questions to meet regulatory requirements, like the source of my funds and my investing experience and goals. Some service providers may also request proof of ID and address at this stage.
- Deposit money. I’ll need money in my account to start trading the IBEX 35, so will need to transfer funds over. Brokers typically accept a variety of payment methods, including bank transfer (such as from regional banks like Banco Sabadell), debit card, and via digital wallets (like Apple Pay) and payment service providers.
What Is The IBEX 35?
The IBEX 35 — short for Índice Bursátil Español — is Spain’s flagship stock market index. It is made up of the 35 largest and most liquid listed shares on the BME, the entity which owns and operates Spain’s four regulated stock exchanges located in:
Launched in 1992, the IBEX 35 represents roughly 90% of the total market capitalization of these four exchanges. It is home to a diverse range of multinational businesses with market-leading positions and broad income streams, including:
- Clothing manufacturer Inditex.
- Banking giant Santander.
- Iberdrola, which produces, distributes and supplies electricity and gas.
- Financial services provider Banco Bilbao Vizcaya Argentaria (BBVA).
- Banking group CaixaBank.
- Energy utility company Endesa.
- Ferrovial, which develops and operates infrastructure projects.
- Airport operator Aena.
- Construction and engineering specialist Grupo ACS.
- Energy producer Repsol.
As you can see, financial services is a core component of the index, although several other sectors are also well represented.
Breakdown of the IBEX 35 Index. Source: BME
Spain’s stock market is home to several share indices alongside the IBEX 35. These include:
- The IBEX Medium Cap index.
- The IBEX Small Cap index, comprising the 30 biggest stocks outside the IBEX Medium Cap.
- The IBEX Growth Market 15, which tracks the 15 most liquid shares on the BME Growth Market.
- The IBEX Top Dividendo, made up of the 25-highest-yielding dividend shares on the BME.
How Can I Trade The IBEX 35?
IBEX 35 shares can be traded simply irrespective of which of Spain’s four stock markets a company happens to be listed on. The Sistema de Interconexión Bursátil Español (SIBE) trading system connects Madrid, Barcelona, Valencia and Bilbao through a single electronic order book, from which investors can buy or sell any listed security.
The most straightforward way to gain exposure to the IBEX 35 is by buying individual shares. Many investors also like to take a more diversified approach with the use of ETFs which track the broader index — such as the Amundi IBEX 35 UCITS ETF — which tracks the performance of all 35 Spanish blue chips.
Long-term performance of the IBEX 35. Source: Google Finance
The BME also maintains several sector indices that help investors monitor the performance of specific industries. These are:
- The IBEX 35 Bank index.
- The IBEX 35 Construction index.
- The IBEX 35 Energy index.
Investors cannot gain exposure to these sector indices via an ETF. However, they can trade futures contracts on the MEFF derivatives exchange that track these indices. Traders can also buy and sell futures and options here linked to specific IBEX 35 companies, in addition to the broader index.
Pro tip: You can deal in IBEX 35-related securities on the BME during normal market hours, which are Monday to Friday 9am to 5.30pm Central European Time (CET1).
IBEX 35 index futures on MEFF have extended trading hours that run from 8am to 10pm. Index options – along with futures and options based on individual IBEX 35 shares – change hands between 9am and 5.35pm.
Many securities exchanges outside Spain also list shares for IBEX 35 constituents. ETFs that track the broader index, and derivatives for the individual blue-chip stocks and the index, can similarly be found on overseas trading venues.
Traders may also be able to use CFDs and spread bets to gain exposure to Spanish blue-chip companies. These are bought and sold over-the-counter (OTC) and not on regulated exchanges.
Bottom Line
Investors looking for exposure to some of Europe’s biggest and best companies should consider trading the IBEX 35. They can do so by purchasing specific shares or ETFs that track the index on Spain’s stock market. Or they can trade derivatives that allow individuals to speculate without having to hold any underlying asset.
When choosing a broker, it’s critical to ensure you’re well protected by selecting one that’s authorized by a top-level financial regulator. As a bare minimum, also consider the fees and charges you can expect to pay, along with the quality of the firm’s trading software and the range of financial markets you can deal in.