A Spanish ALERT-ES project was set up to study the feasibility of setting up an earthquake early warning system to warn of potentially damaging earthquakes that can occur in the Cape of San Vicente (SV)-Gulf of Cadiz (GC) area, located in the south west of the Iberian Peninsula, such as the 1755 Lisbon earthquake. Four events, located close to the epicenters of the largest earthquakes in the area, were simulated using different seismic software packages (Earthworm, SeisComP3, and PRobabilistic and Evolutionary early warning SysTem [PRESTo]) and the errors were analyzed. In addition, a study about the blind zone and the lead time at six selected targets was carried out. The results show a blind zone in the southwest corner of Portugal for SV earthquakes and also a blind zone in the coastal area, from Portimao to Cadiz, for the GC earthquakes.