Ivo Giner shot a 64 to join Graeme McDowell, Brett Rumford and Richard Sterne at 12-under-par 201. Johan Edfors was tied for the lead on the 18th tee, but a lost ball led to a double bogey and a round of 69. Edfors finished at 11-under-par 202 alongside Miguel Angel Jimenez, Anders Hansen, Raphael Jacquelin and Terry Price.
Broadhurst, who has not won on the European Tour since the 1995 Open de France, jumped out of the gate at Club de Campo with a birdie at the par-4 first. Broadhurst found trouble with a bogey at the fourth, but hit his second shot to 3 feet for a birdie at the par-4 fifth to get that shot back.
The Englishman added a birdie at the 10th, but stumbled again with a bogey at the par-4 12th. Broadhurst picked up steam down the stretch, however, and hit his approach to 10 feet for a birdie at the par-4 16th.
Broadhurst then birdied the 17th to make it two in a row and got up and down for a par at the last for his piece of the lead.
Fichardt, a two-time winner on the European Tour, picked up his first birdie of the day at the fourth and added another at the fifth after his second shot stopped within 12 feet of the hole.
The 29-year-old dropped his approach inside 5 feet for a birdie at the seventh and followed with a birdie at the eighth to jump to 13 under.
Fichardt cooled down on the inward half, but had a birdie chance at the par-4 13th. He left his birdie try 3 feet short of the hole, however, and ran his par putt by the cup en route to a bogey.
The South African regained his composure at the par-3 17th and played his tee shot to 8 feet for a birdie. Fichardt then parred the 18th to complete a round of 67.
Edfors, who can secure his card with a win, birdied each of his first two holes, but gave a shot back with a bogey at the third. Edfors then drained a 16-foot putt for a birdie at the fifth, but again struggled to a bogey at the sixth.
At the par-5 seventh, Edfors reached the green in two and ran home a 25- footer for an eagle. Edfors reached 13 under with a birdie at the ninth, but bogeyed his next two holes to fall behind Fichardt.
Edfors countered and landed his second shot within a foot of the hole for a tap-in birdie at the par-4 13th. He then birdied the 16th to regain a share of the lead. The Swede's round was derailed at the closing hole, however, after he lost his ball and settled with a double bogey to finish two off the pace.
'It was not a nice way to finish. It's impossible to lose your ball there and it's quite expensive,' said Edfors. 'I would have paid a lot for that ball.'
Jamie Donaldson was three shots back at 10-under-par 203 after a round of 68. Trevor Immelman, Gary Murphy, Henrik Stenson and Philip Golding followed at 9-under-par 204.