The clubs contested a call by world football's organization to penalize them for breaching rules over the transfer of foreign players below eighteen.
Fifa at first dominated on the case in Gregorian calendar month, however the appeals meant each clubs may sign players this summer.
The Spanish sides can currently attractiveness to the Court of Arbitration for Sport.
In a statement, 11-time European champions Real delineated the choice as "deeply unjust and contrary to the basic principles of disciplinary law".
Atletico aforementioned that they had already employed "a team of international specialists to defend the case and defend the rights" of the club.
Fifa's investigation involved players aged below eighteen United Nations agency contend in competitions for Atletico between 2007 and 2014, and Real from 2005-2014.
"Both clubs area unit to serve a transfer ban that forestalls them from registering any players at national and international level for subsequent 2 complete and consecutive registration periods," aforementioned a Fifa statement.
It further each clubs had been given ninety days during which to "regularise the case of all minor players concerned".
Atletico were penalized 900,000 Swiss francs (£622,000), whereas Real were told to pay 360,000 (£249,000).

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