5 Best Commission-Free Stock Brokers in Spain (2023)

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Introduction 

Stock market investing can help you achieve your financial goals and grow your wealth. Traditional stock brokers charge high fees and commissions that can reduce your profit.

Several commission-free brokers in Spain offer investors an alternative. This article will examine the five top commission-free brokers for Spain in 2023.

What are Commission-Free Stock Brokers?

Spain has many stockbrokers who do not charge any commissions. Commission-free brokerages allow online stock trading without fees and commissions. No middlemen mean you can keep more profit as no one will have to pay them.

Comparing the various stock broker in Spanish is essential before selecting the right one. Consider the broker’s trading platform, fees, customer service, or minimum balances.

Our favorite investment apps in Spain are

eToro

Online broker that offers commission-free stock trading. Copies other traders/investors. Easy to use and slick. It is trusted by more than 30 million clients worldwide.

Scalable Capital

Scalable Capital offers both online brokerage and Robo-Advisor services. Scalable Capital allows investors to invest in ETFs, Crypto ETPs, and derivatives. They can also delegate the task to a third party and get a globally diversified, personalized portfolio. Users get a EUR100 bonus.

XTB Spain 

XTB Spain, founded in 2004, offered a commission-free monthly trading platform up to EUR 100,000. The company provides a wide range of investment options. Disclaimer: 81% of retail CFD accounts lose money.

BUX Zero

Recent mobile apps that provide free stock, cryptos, and ETFs. For more details, check our Bux Zero summary.

DEGIRO

Discount broker in Europe with more than 2,000,000 customers. Fee structure: flat transaction fees that vary depending on the country and an FX fee of 0.25%. DEGIRO summarizes more details. Disclaimer: Investments are subject to risk.

Comparison of commission-free stock brokers in Spain

eToro

eToro began in 2006. Over 30 million users have registered with the company, making it a leader in fintech. It’s easy to use, intuitive, and a good choice for beginners. eToro also offers commission-free trading of stocks across Europe.

• Demo Account – available
• Account minimum – $50
• Regulators – CySEC, FCA
• Mobile App – available
• 0% Commissions – (on Stocks)

eToro Pros and Cons

Pros 

• Commission-free stock trading
• Other innovations and products
• Wide variety of financial products
• Easy to use and modern
• Top tier regulators

Cons 

• Limited disclosed financial information
• Fees for withdrawal and inactivity
• Spreads and currency exchange fees are more than average
• One base currency (USD)

Scalable Capital

Scalable Capital is a German Fintech that was founded in 2014. It offers two services. You can trade crypto, funds, ETFs, and stocks through a brokerage.

Scalable Capital is a wealth service, also known as a Robo Advisor.

Scalable Capital is regulated by the German Federal Financial Supervisory Authority (BaFin). The German Federal Bank also supervises Scalable Capital.

Scalable Capital is also a member of the Investor Compensation Plan, which protects your funds (up to EUR100,000. Scalable Capital also participates in the Investor Compensation Scheme, which covers your money (up to EUR100,000.)

• Demo Account – Not available
• Account minimum – EUR1 (Broker); EUR1,000 (Robo-Advisor)
• Regulators – BaFin, Deutsche Bundesbank
• Mobile App – available
• 0% Commissions – no commission

Scalable Capital Pros and Cons

Pros 

• Commission-free ETFs trading (+0% commission in Stocks in PRIME Broker pricing plan)
• Easy and fast account opening process
• Wealth Management Service (Robo-Advisor)
• Top Tier Regulators

Cons 

• Limited product portfolio (no Options or Bonds)
• Lack of Fundamental detailed tools
• Only available in a select few countries

XTB Spain

XTB Spain, founded in 2002, is regulated by the FCA and local regulators like CNMV. The Warsaw Stock Exchange lists it. The platform offers no commissions on stocks. Software is more geared towards CFDs, Forex, and trading with competitive rates.

• Demo Account – available
• Account minimum – EUR1
• Regulators – CySEC, FCA, CNMV
• Mobile App – available
• 0% Commissions – no commission

XTB Spain Pros and Cons

XTB Spain Pros 

• Free stocks trading
• Low Forex Spreads
• Customizable trading platform (charts and workspace)
• Demo account
• No minimum account deposit
• Valuable education materials
• Top-tier Regulators

XTB Spain Cons 

• Complex trading platform for a beginner
• High Stock CFD fees
• Withdrawal fees for transfers below 100$
• Inactivity fee (10 EUR/month for 1+ year without activity or deposits within the last 90 days

BUX Zero

BUX Zero is an online broker that was launched in 2019. It has positioned itself as a means for Europeans to save money. It’s a good way to start investing.

The US stock market, EU stocks (Dutch and German), and 30+ ETFs are available to users. Bux Zero gives new users up to EUR200 in free shares. The terms are listed on page 31 of the Bux Zero Client Agreement. Bux Zero Client Agreement contains information about the conditions of receiving free shares worth up to EUR200.

• Demo Account – Not available
• Account minimum – EUR1
• Regulators – AFM, CNMV
• Mobile App – available
• 0% Commissions – no commission

Bux Zero Pros and Cons

Pros

• Commission-free stock, ETF, and crypto Trading
• Free share up to 200EUR on deposit
• Fractional Investing
• Modern and user-friendly mobile app
• No fee is charged for non-activity, deposit, withdrawal, or custody
• No minimum required deposit

Cons

• No investment advice
• No demo account
• Limited financial products

DEGIRO

DEGIRO is a broker with low commissions that has been around since 2013.

This innovative platform is known for its “do-it-yourself” philosophy and has nearly 2,000,000 users. All the tools are available to you for investing.

This platform provides a wide range of financial products for trading, including stocks, ETFs, bonds, options, futures contracts, warrants and mutual funds.

• Demo Account – Not available
• Account minimum – EUR1
• Regulators – AFM, DNB, CNMV
• Mobile App – available
• 0% Commissions – no commission

DEGIRO Pros and Cons

Pros 

• Here is a list of ETFs that are commission free (one trade per month allowed, but please check your country’s official DEGIRO site for more details)
• 0% commission in US stocks and ETFs
• User-friendly web and mobile app
• Wide range of investment options
• Investor Academy and Investing with DEGIRO
• Super low commission structure
• Manual FX conversion option
• No fee for account opening or inactivity

Cons 

• EUR1.00 flat handling fee
• EUR2.50 connectivity fee (paid annually)
• It doesn’t offer Forex, CFDs, or Cryptos.
• No demo account
• Little research

Benefits of Choosing a Commission-Free Stock Broker

There are many advantages to choosing a Spanish broker who doesn’t charge commissions. You’ll be able to save money on commissions. Brokers that do not charge commissions have many other advantages.

Some commission-free brokers offer tools like research and analysis to assist you in making better decisions. Brokers may offer rewards for using their platform.

You can save money using a Spanish broker who does not charge commissions and fees.

Importance of Commission-Free Trading 

In recent years, commission-free trading has become very popular due to the cost savings it offers investors. Investors can purchase and sell stock without additional fees by eliminating commissions. It allows investors to trade more frequently, diversify portfolios and benefit from market opportunities without worrying about high fees.

Factors you should consider when choosing a stock broker in Spanish

Knowing the factors you should consider before choosing the best stock broker in Spanish is important. You can use these factors to make a more informed choice and choose a stock broker in Spanish who aligns with your goals and preferences.

Taxes and commissions Although commission-free trading removes transaction costs, you should still consider other possible charges, such as maintenance fees for your account, fees associated with inactivity, and withdrawal fees.

The fee structure for a stockbroker will provide you with a complete overview of your costs.

Range of Investment Opportunities 

Stock brokers in Spanish should provide various options for investing beyond stock. Depending on your investment strategy, consider whether your broker offers access to ETFs, mutual funds, options, bonds, or cryptocurrency.

Easy-to-Use Platform 

A user-friendly, intuitive platform for trading is essential to a smooth investment process. It would help if you looked for brokers who offer intuitive user interfaces, charting tools with real-time data, and mobile apps to manage your investment easily.

Customer Support and Service 

When you have questions or encounter problems with your investment, a reliable and efficient customer service team is essential. Support teams that are responsive and offer multiple communication channels, including live chat, telephone, and email, can enhance the overall trading experience.

Security and Regulation 

Your investments’ security should be your top priority. Ensure reliable authorities license the broker you select and use advanced security methods, like two-factor authentication, encryption, and other measures to safeguard your financial and personal information.

Features and Benefits Comparison 

It’s important to compare the features and advantages of each broker after reviewing their top five stock broker in Spanish that offer commission-free trading in Spain. The comparison below will allow you to identify which broker best fits your needs and preferences.

You should also consider each broker’s additional services and tools, such as educational materials, trade-off reports, or research. By evaluating these factors, you can make an informed choice and choose the broker who aligns with your investment goals.

Conclusion

Commission-free brokers are a great option for Spanish investors. They’re affordable and easy to use. Investors can maximize their strategies for investing, diversify portfolios and take advantage of market opportunities by choosing a broker who does not charge transaction fees.

When selecting a broker, consider important aspects such as fees, investment choices, ease of use, customer service, and security. These five top commission-free brokers offer excellent options for Spanish investors looking for reliable trading platforms.

FAQ’s

What are commission-free stock brokers?

Brokerage firms that offer commission-free trading of stocks allow their clients to do so without paying fees. They offer investors a way to purchase and sell stock without substantial costs.

Do commission-free brokers charge hidden fees?

In general, stockbrokers who do not charge commissions don’t have any hidden fees. It is important to read the terms and conditions of your broker to understand all possible fees.

How do commission-free stock brokers make money?

Commission-free stock brokers make money from a variety of revenue streams. These include order flow revenues, interest earned on cash, subscriptions to premium services, and other features or additional services offered.

Are commission-free stock brokers suitable for beginners?

Stock brokers that do not charge commissions are a good option for newbies, as they provide a cheap entry into the market. Beginners can learn from them and get experience without worrying about paying high commissions.

Am I able to trade foreign stocks through commission-free brokers?

Some commission-free brokers may not allow you to buy or sell international stocks. Other brokers might have limitations. Some may provide access to the global market, while others may not. Review the broker’s services and ensure they offer access to markets you’re interested in.