6 Best Forex Brokers for SPA35 Trading 2024 

A forex broker is a financial services company that provides traders access to platforms for buying and selling currencies, acting as intermediaries between retail traders and the global currency market. Forex brokers allow both individuals and businesses to trade currencies electronically.

The SPA35, also known as the IBEX 35, is a stock market index that tracks the performance of the 35 largest companies listed on the Madrid Stock Exchange. This index serves as a key benchmark for investors looking to evaluate the health of the Spanish economy and the broader European market. Trading the SPA35 allows investors to speculate on the overall movement of the index, rather than on individual stocks. The SPA35 can be traded through derivatives such as CFDs (Contracts for Difference), ETFs (Exchange-Traded Funds), and futures contracts. Many forex brokers provide access to trade the SPA35 on their trading platforms.

With numerous online forex brokers available, finding the right one for SPA35 trading can be challenging. In this article, we’ve compiled a list of the best forex brokers for trading the SPA35. Our goal is to assist you in finding trustworthy partners that align with your trading objectives while ensuring a smooth and efficient trading experience.

A List of Top 6 Forex Brokers for SPA 35 Trading

• Pepperstone: Best Overall Brokers 
• IC Markets:  Best for tight spreads
• ActivTrades: Best For EU, UK 
• Etoro: Best for Social Copy Trading
• FP Markets: Low-Cost Broker  
• Blackbull Markets: Best for Free TradingView Account 

Best Forex Brokers for Trading SPA 35 ( Reviewed and Compared)

What is a Forex Broker?

A forex broker functions as a financial services provider that facilitates the trading of foreign currencies in the global forex market. By acting as intermediaries, these brokers enable retail and institutional clients to execute trades seamlessly. They connect traders to forex liquidity and the banking system, allowing them to speculate on currency pairs without needing to hold physical currency. Forex brokers typically operate 24 hours a day during the week, offering traders consistent access to the market.

The forex market is the most extensive and liquid financial market, with daily trading volumes exceeding $6.6 trillion. It operates on a worldwide scale, involving participants such as banks, financial institutions, and individual traders. Forex brokers provide a range of services, including trading platforms, market research, educational resources, and analytical tools, which are crucial for informed trading decisions. This decentralized market structure allows for the buying and selling of currencies at prevailing rates, which directly influences global exchange rates.

In addition to currency pairs, forex brokers offer a range of trading instruments, including indices, commodities, stocks, and cryptocurrencies. These are generally available as Contracts for Difference (CFDs), enabling traders to speculate on price movements without owning the underlying assets. CFDs allow traders to utilize leverage, which can enhance potential profits while also increasing risks. By providing access to various trading instruments, forex brokers support traders in executing diverse strategies and achieving well-rounded investment goals.

What is the SPA 35 Index?

The SPA 35, commonly referred to as the IBEX 35, is a stock market index that tracks the performance of the 35 most liquid and largest companies listed on the Bolsa de Madrid in Spain. Established in 1992, the index serves as a key benchmark for the Spanish equity market, representing major firms across various sectors, including finance, telecommunications, and energy. The SPA 35 is calculated using a free-float market capitalization-weighted methodology, meaning that it reflects the market value of shares available for trading, giving greater weight to larger companies within the index.

Forex brokers frequently offer the SPA 35 as CFDs (Contracts for Difference), allowing traders to speculate on its price movements without directly owning the underlying stocks. On trading platforms, it may be listed under various names such as IBEX 35, Spain 35, or SPA35 Cash. The SPA 35 is closely monitored by investors as an indicator of the economic health and investor sentiment within Spain and the broader Eurozone. Its performance can be influenced by various factors, including macroeconomic indicators, corporate earnings reports, and political developments. An increase in the SPA 35 typically signals growing confidence in the Spanish economy, which can also impact related currency pairs, particularly those involving the euro (EUR) and the U.S. dollar (USD).

How to Trade SPA35 on Forex Brokers

Forex brokers nowadays offer a variety of trading instruments along with currency pairs, including stocks, indices, cryptocurrencies, commodities, ETFs, and futures. They provide access to these tradable assets as CFDs. SPA35, also known as the IBEX 35, is one of the most popular indices, representing the 35 largest companies listed on the Spanish stock market. Most forex brokers have this index available to trade on their platform.

To trade SPA35, the first step is to acquire knowledge about the indices market and how indices trading works. Learn how to analyze the markets and create a trading strategy that will help you generate your trading signals. Practice and perfect your strategies on a demo account. When you are ready to start live trading, you can proceed.

Here are the 6 steps to start SPA35 trading on Forex Brokers:
Step 1: Choose a Forex broker and open an account.
Step 2: Verify the account, fund it, and download the trading platform if required.
Step 3: Find the SPA35 index from the list of tradable assets and create a new order.
Step 4: Set your trade volume, stop loss, take profit, etc.
Step 5: Place your order by clicking ‘buy’ or ‘sell’.
Step 6: Monitor the trade and close it when you are satisfied. This completes SPA35 trades.

Which session is best for trading SPA35?

The London session is considered the best time to trade the SPA35 due to its high volatility and significant trading volume during these hours. The SPA35, or IBEX 35, consists of the 35 largest companies listed on the Madrid Stock Exchange, making it a key benchmark for the Spanish stock market and an important indicator of the overall health of the Spanish economy. During the London session, the active participation of institutional investors, hedge funds, and other major market players leads to increased liquidity and tighter spreads, creating optimal trading conditions.

Moreover, the overlap between the London and New York sessions, which occur from 8:00 AM to 12:00 PM EST (1:00 PM to 5:00 PM GMT), is particularly beneficial for trading the SPA35. This period often sees heightened market activity as both European and U.S. participants are engaged, resulting in greater liquidity and increased volatility. Traders can take advantage of this time to respond to economic news releases, corporate earnings announcements, and geopolitical developments that can significantly impact the SPA35. This makes the overlap a strategic time for those looking to capitalize on potential price movements in the Spanish index.

Final Verdict:

If you are a trader looking to trade the SPA35, you can choose a broker that aligns with your trading needs and preferences. We have thoroughly analyzed and compared the best forex brokers that offer SPA35  trading. We researched focusing on regulation, fees, trading conditions, customer support, trading platforms and tools, and so on. 

Based on our research and broker ratings, the top forex brokers offering indices trading include Pepperstone, ActivTrades, and FP Markets. These brokers are highly trusted and regulated worldwide. For instance, Pepperstone is regulated by 7 top-tier regulatory authorities, including ASIC in Australia, CySEC in Cyprus, FCA in the UK, DFSA in Dubai, BaFin in Germany, CMA in Kenya, and SCB in the Bahamas. ActivTrades is a UK-based forex broker well-regarded among EU and UK traders, with FCA and CSSF regulations supporting its credibility. 

FP Markets, regulated by ASIC, CySEC,  FSA, FSCA, and SVG is known for its low-cost trading and competitive pricing on indices like the US 30, making it an attractive choice for both new and experienced traders.

IC Markets is another strong contender for trading the SPA35. Regulated by ASIC, CySEC, and FSC, IC Markets is well-known for its competitive spreads and excellent liquidity. It offers access to SPA35 trading with multiple platforms, including MT4, MT5, and cTrader, providing traders with the tools they need for effective market analysis.

ActivTrades is a UK-based forex and CFD broker. It is regulated by the FCA and is popular among EU and UK traders for its reliable service and adherence to local regulations. ActivTrades offers SPA35 trading, along with advanced trading tools and features suitable for traders of all experience levels.

eToro is a reputed broker that offers the most popular indices like SPA35.  The broker is known for its social trading platform, ideal for beginners looking to copy expert traders. All the brokers mentioned here are regulated and trusted, you can choose any of the brokers from the list and start your trading journey.