Bolsas y Mercados Españoles
Investment costs

Investors must bear three types of costs on transacting in the Spanish stock market: the fees charged by the entity or intermediary used, Bolsa trading fees and the settlement fees of IBERCLEAR. This is on top of the administration or custody fees payable to the securities account administrator.

  1. Brokerage fees  

    The fees applied by stock market intermediaries have been free and negotiable since 1 January 1992.

    Intermediaries are legally obliged to display their prices to the public and notify them to the CNMV (National Securities Markets Commission). The investor will thus be fully informed, from the outset, of what his equity investment will cost.

    For individual investors, brokerage fees generally run from 0.2% to 0.3% of the cash amount of each transaction; among the cheapest rates worldwide. Logically, these fees may also be substantially lower for larger transaction and cash volumes.

  2. Bolsa trading fees

  3. IBERCLEAR settlement fees

  4. The securities administration or custody fees charged by the broker-dealer, broker or bank holding the securities account are usually between 0.15% and 0.25% p.a. of the nominal value of the securities on deposit. This is incremented by charges for specific operations like dividend collection, the subscription of new securities, bond conversion, etc.

All these costs must be clearly specified in the administration or deposit agreement concluded with the client on opening the securities account.



Follow us in:
Copyright © BME 2020