Plus500 Stops CFD Onboarding for New Spanish Residents

What Has Plus500 Changed in Spain?

Online trading platform Plus500 has informed clients that contracts for difference are no longer available to new traders who are residents of Spain. The restriction applies only to new onboarding and does not represent a full withdrawal from the Spanish market. Existing clients are not explicitly affected, and Spanish residents can still trade real shares through Plus500 Invest, the company’s non-leveraged share-dealing platform.

The firm did not reference a specific in its communication. Still, the move aligns closely with Spain’s increasingly restrictive environment for retail derivatives, where CFDs are widely treated as high-risk products for non-professional investors.

Investor Takeaway

Why Has Spain Become So Restrictive on CFDs?

The current landscape traces back to 2018, when European authorities introduced continent-wide product intervention rules on CFDs. These measures capped leverage, imposed margin close-out rules, required negative balance protection, and mandated stating that most retail clients lose money trading CFDs.

While those rules set a minimum standard across the EU, national regulators were free to go further. Spain’s securities watchdog has done exactly that. Over several years, it has raised repeated concerns about retail losses, aggressive online advertising, and the role of in attracting inexperienced traders.

In mid-2023, Spain introduced one of the strictest for leveraged products. The rules sharply limit advertising, sponsorships, influencer campaigns, and other mass-market promotion aimed at retail audiences. While CFDs remain legal to trade, the restrictions make it far harder and more expensive for brokers to acquire new clients without crossing regulatory lines.

For many firms, the economics no longer add up. Without broad marketing channels, onboarding new retail CFD clients in Spain carries higher compliance costs and greater legal uncertainty.

Is This a Strategic Shift Rather Than a Market Exit?

Plus500’s wording suggests a deliberate narrowing rather than a retreat. The restriction applies to “new traders” based on residency, a common regulatory compromise that allows existing accounts to continue operating while limiting future growth. This approach reduces friction with regulators while avoiding disruption for current users.

Investor Takeaway

How Does This Fit Plus500’s Broader Strategy?

Plus500, listed in London, has spent recent years broadening its product range beyond its original CFD-only model. The push into share dealing, futures, and other instruments reflects a recognition that leveraged retail trading faces mounting scrutiny across Europe.

CFDs remain a major profit driver, but they are also the most sensitive segment from a regulatory and political standpoint. In multiple jurisdictions, authorities have made clear that limiting retail exposure to leverage is a policy priority, even at the cost of sluggisher broker growth.

What Does This Mean for Traders in Spain?

For Spanish residents, the impact is clear. New retail clients will no longer be able to access CFDs through Plus500. Existing clients may continue trading under existing conditions, and residents can still open or maintain accounts for real share trading via Plus500 Invest.

Residency, rather than nationality, appears to be the deciding factor, which matters for expatriates and cross-border EU clients. Professional clients may face diverse treatment depending on classification, but retail access to leveraged products continues to narrow.