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The National Securities Market Commission (CNMV) is regulatory responsible for the supervision and inspection of the Spanish securities market and the activities of all involved in it. CNMV actively participates in international institutions, such as IOSCO (International Organization of Securities Commissions), ESMA (European Securities and Markets Authority), and FSB (Financial Stability Council).

Established
1988
Country
Spain
Amount of Data
21
Broker Regulation
XM

Australia 2009

XTB

Spain 2002

Orbex

France 2009

Trade360
Germany 2013

FxGrow
Germany 2008

NSFX
Germany 2011

Alvexo
Netherlands 2014

FXGM
Germany 2011

Darwinex
Spain 2012

EverFX
Cayman Islands 2015

XGLOBAL Markets
Germany 2012

FXGlobe
Germany 2008

OneTrade
Germany 2011

AMP Global
Germany 2018

EuropeFX
Spain 2014

UFX
Germany 2009

ATFX
France 2015

MultiBank
United States 2005

ROinvesting
Germany 2015

Forex24
Germany

Axiance
Cayman Islands 2015




FAQ

What does CNMV regulated mean?

Being regulated by CNMV (Comisión Nacional del Mercado de Valores) or the National Securities Market Commission means operating under the standards of a Spanish financial regulator. The institution was established in 1988. It is an independent agency that falls under the Ministry of Economy and Finance of Spain with a main responsibility of regulating the Spanish securities market.


What are CNMV rules?

Since CNMV is under a regulatory framework to meet the EU criteria, the rules implemented by the agency are most likely set to follow the MiFID directives.

CNMV has set a number of laws with the Spanish Government to include the reinforcement of several acts with legislative powers to regulate financial companies in the country. Indeed, the Securities Act and the Transparency Act are the legal frameworks designed by the Government to provide a baseline for the CNMV to act on the Government’s behalf while issuing penalties on the member firms.


What is the main purpose of CNMV?

As a financial supervisory agency, CNMV was initially established to regulate the Spanish stock markets according to the European market guidelines. But over the years, CNMV started to incorporate different financial sectors under its regulatory framework. It is now the sole regulatory agency responsible for forex broker regulation in Spain.

Actions by the CNMV generally focus on:

  • Companies issuing securities to be placed publicly on the primary market.
  • Participants in the secondary securities markets.
  • Companies providing investment services and collective investment institutions.

Meanwhile, their responsibilities are as follows:

  • Issuing CNMV licences.
  • Imposing penalties on any companies found violating the regulations.
  • Overseeing registered forex brokers and their activities.
  • Communication with traders, responding to inquiries, and resolving disputes.

What are the powers of CNMV?

The CNMV actively monitors all non-regulated brokers and inform Spanish traders about the illegal companies. They can penalizes unregulated brokers and their partners (affiliates and/or introucing brokers) for soliciting traders using false premises. The agency is also implementing a highly proactive measure to restrict fraud brokers by issuing public warnings, and press releases regarding in concern with financial scams. In fact, CNMV is one of the few official regulatory agencies to do so.

If you are interested to open an account in one of the brokers in the list above, make sure to try the forex demo account before proceeding to register in the live account.