CNMV regulated forex brokers
Comisión Nacional del Mercado de Valores · 🇪🇸 Spain
The Comisión Nacional del Mercado de Valores (CNMV) is the financial regulator for Spain, established in 1988. ForexLicenses.com classifies it as tier 2 (strong regulation). We currently match 1 broker in our database to an CNMV licence.
The CNMV supervises Spain's securities markets and investment services firms. Spain stands out in Europe because its investor compensation fund, FOGAIN, covers up to €100,000 per investor — five times the EU minimum. Spain also restricted CFD marketing to retail clients in 2023, requiring prominent warnings and limiting promotional activity. The CNMV's entity search and warnings list are the places to check a Spanish or passported firm.
Key rules for retail clients
- Tier
- Tier 2 — Strong regulation
- Compensation
- FOGAIN — up to €100,000
- Leverage
- 30:1 on major FX pairs (ESMA rules)
- Negative balance protection
- Required for retail clients
- Client money
- MiFID II client asset rules
- Complaints
- CNMV Investor Assistance Office
Brokers licensed by the CNMV 1
Frequently asked questions
How do I check if a broker is CNMV regulated?
Search the firm's name or licence number on the CNMV official register (https://www.cnmv.es/portal/Consultas/BusquedaPorEntidad.aspx?lang=en), confirm the status is current and that the website domain you're using is listed, then check the CNMV warning list for clones.
Does the CNMV offer investor compensation?
FOGAIN — up to €100,000
What leverage do CNMV-regulated brokers offer?
30:1 on major FX pairs (ESMA rules)
Is negative balance protection required by the CNMV?
Yes. Negative balance protection is required for retail clients of CNMV-regulated firms.