This paper examines the role of motivation, anxiety, and self-efficacy beliefs and their interplay with regard to speaking on beginners' Spanish LMOOCs. It answers three research questions: (1) what are learners' motivations and goals for joining these LMOOCs and how do these relate to foreign language speaking anxiety; (2) how do learners' self-efficacy beliefs and anxiety levels change as a result of course completion; and (3) is there a correlation between motivation, foreign language speaking anxiety, and self-efficacy beliefs in this context? A mixed-methods research design used quantitative and qualitative data gathered from self-reflective questionnaires and forum discussions. The results reveal that learners with intrinsic motivation are more likely to complete the courses than those who sign up to manage a personal situation or advance in their career or studies. No direct correlation was, however, found between motivation and the other variables under scrutiny. Learners present higher self-efficacy beliefs at the end of the courses than at the beginning, while anxiety levels are affected to a much smaller degree by course completion. Although spoken interactions in this learning environment are not synchronous, apprehension and anxiety prevent many learners from fully participating in the speaking activities.