CNMV Regulated Brokers: 17 in the WIKILIX Database

17 brokers in the WIKILIX database are recorded as holding a licence from Spain's Comisión Nacional del Mercado de Valores (CNMV), and every one of them carries WIKILIX's clean "regulation" status. They are ranked below by overall WIKILIX score, from FXTIME at 65.0 down to two Spanish investment firms that close the list at 34.1, with the median sitting at 51.3.

The CNMV is Spain's securities regulator and enforces the European Union's MiFID II rules, so most firms on this page do not rely on a Spanish licence alone. They passport a single European authorisation across the bloc, which is why brokers like Numisma and FXGM appear with CySEC, BaFin, the French AMF and the Italian CONSOB all recorded next to their CNMV entry.

What a CNMV registration means, and what this list required

A CNMV entry means a firm sits on the register the Spanish regulator maintains under MiFID II, whether it is a Spanish investment firm or a European broker passporting in from another member state. This page required two things at once: a CNMV licence recorded in the WIKILIX database, and a WIKILIX status of "regulation" rather than a warning label. That second filter removed three firms that hold a CNMV entry but do not carry a clean status, including one flagged as a suspicious clone that would otherwise have topped the table on score. The order you see is the WIKILIX score, which combines licence coverage, operating history and recorded trading terms into a single figure out of 100.

The set is older than its modest scores suggest. BTGPactual, the Brazilian firm at the top of the age range, records an opening date of 1983, and Monex Europe in London dates to 1985. Six of the 17 opened before 2010. Licence coverage varies far more than age does. 11 of the 17 hold two or more separate authorities, and 7 also carry an FCA licence in the United Kingdom, with Admirals recording the widest set at 9. At the other end, 6 firms appear with CNMV as their only recorded regulator, among them InverForx in Mexico and the Argentine broker PPI.

The Spanish angle, and what this list does not tell you

Despite the Spanish regulator behind it, only two of the 17 are domiciled in Spain: Renta 4 Banco and S&C Inversiones. The rest are headquartered elsewhere, from Cyprus and Germany to Brazil, Argentina and Mexico, and they reach Spanish clients through the passport rather than a local head office. Domicile is not the same as market access. This list records where each firm is licensed and where it is based, not which countries it currently accepts clients from, and it holds no spread or deposit figures. For those, read each broker's own terms.

Before you rely on any entry here, check it against the CNMV's own register:

• Confirm whether the firm is authorised by the CNMV directly or is a passported entity supervised mainly by another EU regulator, because your complaint route depends on it.
• Match the licensed company name, not the brand. Several firms here trade under a name that differs from the entity that holds the licence, such as RICO, which is registered to XP Investimentos.
• Check that the CNMV entry is still current, since a passport can be withdrawn without the public brand changing.
• Read a high score backed by a single licence, as with several of the Latin American entries, differently from the same score backed by a full European passport.