When stepping into the world of foreign exchange (Forex) trading, one of the most critical choices you’ll face is selecting the right and best forex brokers in Germany. This decision holds immense importance, especially for traders seeking top-notch brokers based in Germany. With a plenty of best forex brokers in Germany are available, it’s crucial to opt for a reliable and well-regulated broker that aligns with your trading goals.
At TradingbyCf (Best Forex Signal Provider), our dedicated team has conducted thorough research and evaluated the world’s best Forex brokers within the framework of Germany’s local regulatory landscape. Our aim is to assist you in making this pivotal decision. This detailed guide is tailored specifically for traders residing in Germany, providing valuable insights into the most suitable Forex brokers. Our goal is to ensure a safe and informed journey into the world of trading.
We’ve put together a detailed list of the top and best Forex Brokers in Germany. These brokers are registered with the German Securities and Investments Commission and have been carefully rated based on their overall performance.
Germany uses the Euro as its official currency, managed by the Deutsche Bundesbank, the national and central bank of the country. The Deutsche Bundesbank plays a crucial role in providing financial services to the German government, overseeing the nation’s banking institutions, and ensuring price stability.
Alongside the central bank, Germany has the Federal Financial Supervisory Authority (BaFin), serving as the primary regulator of the country’s financial markets. BaFin is responsible for various essential tasks, including regulating banking, insurance, and capital markets, as well as safeguarding consumers of financial services.
In addition to its regulatory duties, BaFin also tackles significant issues such as combatting terrorist financing and money laundering. Moreover, it plays a role in developing securities and derivatives markets, ensuring they operate smoothly and efficiently.
Below, you’ll find a list of the 10 best Forex brokers in Germany, meticulously chosen and evaluated to help you navigate the complex world of Forex trading with confidence.
| Saxo Bank | BDSwiss |
| CMC Marketers | IG |
| Pepperstone | FXTM |
| AvaTrade | LYNX |
| Plus500 | ThinkMarketers |
1) Saxo Bank: A Look at the Danish Online Broker
Saxo Bank is a well-established and regulated broker that offers a wide range of forex pairs, CFDs, and other tradable assets. They also have a user-friendly platform and extensive research and analysis tools. It’s on the top among 10 best forex brokers in Germany.
Saxo Bank, a Danish investment bank, is a leading player in online trading and investment. Founded in 1992, it offers a platform for trading various assets, including:
Features (Table):
| Feature | Description |
| Description | SaxoTraderGO (mobile and web-based)pen_spark |
| Account Types | Saxo Account (individual), Joint Account, Corporate Account, Professional Account |
| Asset Coverage | Over 70,000 instruments (depending on location)pen_spark |
| Order Types | Advanced order types for risk management |
| Research & Education | Extensive research tools and educational resources |
Is it one of the Best in Germany?
While Saxo Bank is a reputable broker with a global presence, it’s fine to say definitively if it’s the absolute best in Germany. Several factors can influence this decision, including your trading style, experience level, and investment goals.
Pros:
Cons:
Fees and Account Types:
Saxo Bank offers various account types with different fee structures. It’s crucial to research and compare fees based on your trading activity. You can find more details on their website https://www.home.saxo/.
Overall
Saxo Bank is a strong contender for experienced investors seeking a feature-rich platform and access to a vast array of assets. However, for beginners, other brokers with simpler interfaces and lower fees might be more suitable.
2) BDSwiss: A European CFD and Forex Trading Platform
BDSwiss is another popular option for forex traders in Germany. They offer competitive spreads, a variety of account types, and excellent customer support. It’s on 2nd top among best forex brokers in Germany.
BDSwiss, founded in 1997, is a European online broker specializing in Contracts for Difference (CFDs) and foreign exchange (forex) trading. They offer a user-friendly platform for individuals to trade various financial instruments:
Features (Table):
| Feature | Description |
| Platform | MetaTrader 4 & 5, BDSwiss WebTrader (web-based) |
| Account Types | Classic Account, VIP Account, Raw Spread Account |
| Asset Coverage | Over 1000 instruments (depending on location) |
| Trading Tools | Auto trading, social trading, educational resources |
| Customer Support | Live chat, phone, email |
Is it one of the Best in Germany (Important Note):
It’s important to understand that, as of January 2024, BDSwiss no longer accepts clients from within the European Union (EU), including Germany. This is due to regulatory changes.
Pros (Considering Pre-EU Restriction):
Cons (Considering Pre-EU Restriction):
Fees and Account Types (Considering Pre-EU Restriction):
BDSwiss offered various account types with different fee structures. Since they no longer accept EU clients, the specific details may not be applicable. However, it’s important to understand that fees can be a significant factor when choosing a broker.
Overall (Considering Pre-EU Restriction):
BDSwiss was a potential option for European traders seeking a user-friendly platform for CFD and forex trading. However, with the current restriction for EU clients, exploring other brokers with regulatory compliance in Germany is essential.
3) CMC Markets: A Global Leader in CFD and Forex Trading
CMC Markets, established in 1989, is a renowned online broker with a presence in Germany through CMC Markets Germany GmbH. They specialize in Contracts for Difference (CFDs) and foreign exchange (forex) trading, attracting both beginners and experienced traders. It’s on third top among best forex brokers in Germany.
Features (Table):
| Feature | Description |
| Platform | Next Generation Platform (web-based & mobile), MetaTrader 4 & 5 (optional) |
| Account Types | Individual Account, Corporate Account |
| Asset Coverage | Over 12,000 instruments (including indices, commodities, shares) |
| Research & Education | Extensive market analysis, trading guides, webinars |
| Customer Support | Phone, email, live chat (German support available) |
Is it a Top Contender in Germany?
CMC Markets Germany GmbH is a strong contender in the German market. Their focus on CFDs and forex aligns well with popular trading options, and their platform caters to both experienced traders and beginners. Regulation by BaFin (German Federal Financial Supervisory Authority) adds another layer of trust.
Pros:
Cons:
Fees and Account Types:
CMC Markets offers various fee structures depending on the account type and trading activity. They typically charge spreads (difference between buy and sell prices) and commissions (may apply for specific assets). It’s crucial to research their fee schedule on the German website https://www.cmcmarkets.com/en/ to understand the costs involved before opening an account.
Overall
CMC Markets Germany GmbH presents a compelling option for German traders seeking a reputable broker with a user-friendly platform, extensive educational resources, and a wide range of tradable assets. However, it’s vital to be aware of the inherent risks associated with CFD trading and carefully consider the fee structure before investing.
4. IG: A Global Leader in Online Trading
IG is a global provider of forex and CFD trading. They offer a wide range of markets, competitive spreads, and a user-friendly platform. It’s on the fourth top among best forex brokers in Germany.
IG, founded in 1974, is a prominent player in the online trading scene, boasting the title of the world’s No.1 CFD provider. They offer a comprehensive platform for trading various financial instruments:
Features (Table):
| Feature | Description |
| Platform | IG Trading Platform (web-based & mobile), advanced platforms for experienced users |
| Account Types | Standard Account, Active Trader Account, Turbo Account (CFD-specific) |
| Asset Coverage | Over 19,500 instruments (depending on location) |
| Research & Education | Market analysis, trading strategies, educational webinars |
| Customer Support | 24/7 phone support, email, live chat (German support available) |
Is IG a Top Choice in Germany?
IG offers a strong presence in Germany, with IG Europe GmbH being supervised by BaFin (German Federal Financial Supervisory Authority). Their extensive platform and vast asset coverage cater to diverse trading styles.
Pros:
Cons:
Fees and Account Types:
IG offers various fee structures depending on the account type and trading activity. They typically charge spreads (difference between buy and sell prices) and commissions (may apply for specific assets). It’s crucial to research their fee schedule on the German website https://www.ig.com/de/ to understand the costs involved before opening an account.
Overall
IG presents a compelling option for German traders seeking a reputable broker with a feature-rich platform, extensive educational resources, and a vast selection of tradable assets. However, as with other CFD brokers, carefully consider the risks involved and compare fee structures before investing.
5. Pepperstone: A Global Forex and CFD Broker
Pepperstone is an Australian forex broker that offers competitive spreads, a variety of account types, and excellent customer support. Tickmill: Tickmill is a forex broker that specializes in low spreads and ECN execution. They offer a variety of account types and excellent customer support. It’s on fifth top among 10 best forex brokers in Germany.
Pepperstone, founded in 2010, is a rapidly growing online broker with a focus on forex and Contracts for Difference (CFDs) trading. They offer a streamlined platform for individuals to trade various financial instruments:
Features (Table):
| Feature | Description |
| Platform | MT4, MT5, cTrader (popular third-party platform) |
| Account Types | Razor Account (ECN), Standard Account, Swap-Free Account |
| Asset Coverage | Over 1200+ instruments (depending on location) |
| Execution & Spreads | Focuses on tight spreads and fast execution speeds |
| Customer Support | 24/7 phone support, email, live chat |
Is Pepperstone a Top Contender in Germany?
Pepperstone is not currently regulated by BaFin (German Federal Financial Supervisory Authority). This might be a deciding factor for some German traders seeking a broker under German financial regulations. However, Pepperstone is regulated by other reputable authorities like ASIC (Australian Securities & Investments Commission) and FCA (Financial Conduct Authority) in the UK.
Pros:
Cons:
Fees and Account Types:
Pepperstone offers various fee structures depending on the account type and trading activity. They typically charge spreads (difference between buy and sell prices) and commissions (may apply for specific assets). It’s crucial to research their fee schedule on their website https://pepperstone.com/ to understand the costs involved before opening an account.
Overall
Pepperstone presents an attractive option for German traders seeking a competitive forex and CFD broker with tight spreads, fast execution, and a user-friendly platform. However, the lack of current BaFin regulation and a potentially limited range of assets compared to some competitors might be factors to consider.
6. FXTM: A Global Broker with Focus on Education and Support
FXTM is a forex broker that offers a variety of account types, including Islamic accounts. They also offer competitive spreads and a user-friendly platform. It’s on sixth top among 10 best forex brokers in Germany.
FXTM, established in 2011, is a global online forex and CFD broker known for its educational resources and customer support. They offer a platform for trading various financial instruments:
Features (Table):
| Feature | Description |
| Platform | MetaTrader 4 & 5 (industry-standard platforms) |
| Account Types | Standard Account (commission-based), ECN Zero Account (tight spreads, commission fees), Advantage Account (no commissions, wider spreads) |
| Asset Coverage | Over 200+ instruments (depending on location) |
| Education & Support | Extensive educational resources, webinars, multilingual customer support (including German) |
| Leverage | High leverage options available (be aware of risks) |
Is FXTM a Top Contender in Germany?
FXTM is regulated by CySEC (Cyprus Securities and Exchange Commission), a well-respected European regulator. While not directly under BaFin (German Federal Financial Supervisory Authority), it offers a layer of security for German traders. Their focus on education and German language support makes them a strong contender.
Pros:
Cons:
Fees and Account Types:
FXTM offers various fee structures depending on the account type and trading activity. They typically charge spreads (difference between buy and sell prices) or commissions, depending on the account. It’s crucial to research their fee schedule on their website https://www.forextime.com/ to understand the costs involved before opening an account.
Overall
FXTM presents a good option for German traders seeking a user-friendly platform, educational resources, and multilingual support. Their CySEC regulation offers security, and the variety of account types allows customization based on trading style. However, be mindful of the risks associated with high leverage and compare asset coverage with other brokers before deciding.
7. Plus500: Focus on CFD Trading with Leverage
Plus500 is a CFD provider that offers a user-friendly platform and a wide range of markets. However, they do not offer traditional forex trading. It’s on seventh top among 10 best forex brokers in Germany.
Plus500, founded in 2008, is an online CFD (Contracts for Difference) broker offering a platform to trade various financial instruments through CFDs. Unlike some of the previously mentioned brokers, Plus500 doesn’t offer direct ownership of underlying assets.
Features (Table):
| Feature | Description |
| Platform | Plus500 web platform (simple and user-friendly) |
| Account Types | Standard Account |
| Asset Coverage | Over 2,000 instruments (including stocks, indices, commodities, forex, options) (all traded as CFDs) |
| Leverage | High leverage options available (be aware of risks) |
| Customer Support | 24/7 phone, email, and live chat support |
Is Plus500 a Top Contender in Germany?
Plus500 is regulated by various authorities, including the FCA (Financial Conduct Authority) in the UK and ASIC (Australian Securities & Investments Commission). However, it’s not currently regulated by BaFin (German Federal Financial Supervisory Authority). This lack of direct BaFin regulation might be a concern for some German traders. It holds seventh top position among 10 best forex brokers in Germany.
Pros:
Cons:
Fees and Account Types:
Plus500 charges fees through spreads (difference between buy and sell prices) on the CFDs. It’s crucial to research their fee schedule on their website https://www.plus500.com/ to understand the costs involved before opening an account.
Overall
Plus500 caters to traders seeking a user-friendly platform for CFD trading on a wide range of assets. However, the lack of BaFin regulation, the inherent risks of CFDs, and limited order types are important considerations for German traders. It’s advisable to compare Plus500 with other brokers offering direct asset ownership or CFDs with lower leverage options.
8. AvaTrade: A Multi-Asset Broker with Global Recognition
AvaTrade is a forex and CFD provider that offers a variety of account types and a user-friendly platform. However, they have been fined by regulators in the past. It remains on eighth position among 10 best forex brokers in Germany.
AvaTrade, established in 2006, is a well-known online broker offering a platform to trade various financial instruments:
Features (Table):
| Feature | Description |
| Platform | AvaTrade WebTrader (proprietary), MT4/MT5 (industry-standard), AvaOptions (for options trading), AvaSocial & DupliTrade (social trading) |
| Account Types | Standard Account (commission-based), Demo Account |
| Asset Coverage | Over 1,250+ instruments (depending on location) |
| Educational Resources & Support | AvaTrade Academy (educational materials), multilingual customer support (including German) |
| Regulation | Regulated in multiple jurisdictions, including Ireland (Central Bank of Ireland) |
Is AvaTrade a Top Contender in Germany?
While AvaTrade isn’t directly regulated by BaFin (German Federal Financial Supervisory Authority), it’s regulated by the Central Bank of Ireland, a respected European regulator. This offers a degree of security for German traders. Their diverse platform options and educational resources make them a strong contender.
Pros:
Cons:
Fees and Account Types:
AvaTrade offers various fee structures depending on the account type, platform used, and trading activity. They typically charge spreads (difference between buy and sell prices) or commissions, depending on the instrument. It’s crucial to research their fee schedule on their German website https://www.avatrade.com/home-v2 to understand the costs involved before opening an account.
9. LYNX: A Dutch Broker for Active Traders
LYNX, founded in 2006 in the Netherlands, is an online broker geared towards experienced and active traders. They offer a platform for trading a vast array of financial instruments: It’s on ninth position among 10 best forex brokers in Germany.
Features (Table):
| Feature | Description |
| Platform | Interactive Brokers Trader Workstation (TWS) – powerful and feature-rich |
| Account Types | Cash Account, Margin Account |
| Asset Coverage | Over 150 markets and 33 countries (depending on location) |
| Order Types | Advanced order types for algorithmic and automated trading |
| Research & Tools | Extensive market research tools, fundamental and technical analysis |
Is LYNX a Top Contender in Germany?
LYNX is a broker that offers a variety of asset classes, including forex. They offer a commission-based pricing model, which can be attractive to experienced traders. However, they may not be the best option for beginners.
LYNX is a solid option for active German traders seeking a powerful platform and access to a vast global market. They are regulated by De Nederlandsche Bank (DNB), the Dutch central bank, and comply with European regulations (MiFID II). However, some German traders might prefer a broker directly regulated by BaFin (German Federal Financial Supervisory Authority).
Pros:
Cons:
Fees and Account Types:
LYNX offers commission-based fees, meaning you pay a fee per share or contract traded. The exact fees depend on the asset type, exchange, and your trading volume. They have two main account types: Cash Account (funds must be available before buying) and Margin Account (allows borrowing for leveraged trading – involves higher risk). It’s crucial to research their fee schedule on their German website https://www.lynxbroker.de/ to understand the costs involved before opening an account.
Overall
LYNX is a strong contender for experienced German traders seeking a powerful platform, access to a global market, and advanced features. However, the lack of direct BaFin regulation, the complexity of the platform, and potentially higher fees for low-volume traders are important considerations.
10.ThinkMarkets: A Global Broker with a Focus on Education and Technology
ThinkMarkets, established in 2010, is a reputable online broker offering a user-friendly platform for trading various financial instruments:
Features (Table):
| Feature | Description |
| Platform | ThinkTrader® (mobile & web-based, user-friendly), MT4 & MT5 (industry-standard platforms) |
| Account Types | Standard Account (commission-free, wider spreads), Live Account (commission-based, tighter spreads), Demo Account |
| Asset Coverage | Over 800+ instruments (depending on location) |
| Education & Support | Educational resources, webinars, multilingual customer support (including German) |
| Regulation | Regulated by multiple authorities, including FCA (UK) and ASIC (Australia) |
Is ThinkMarkets a Top Contender in Germany?
ThinkMarkets isn’t directly regulated by BaFin (German Federal Financial Supervisory Authority). This might be a concern for some German traders seeking brokers under German financial regulations. However, their regulation by reputable authorities like FCA (UK) and ASIC (Australia) offers a degree of security.
Pros:
Cons:
Fees and Account Types:
ThinkMarkets offers a choice between commission-free and commission-based accounts. Standard Accounts have wider spreads, while Live Accounts have tighter spreads but charge commissions per trade. It’s crucial to research their fee schedule on their German website [invalid URL removed] to understand the costs involved before opening an account.
Overall
ThinkMarkets presents a good option for German traders, especially beginners, seeking a user-friendly platform, educational resources, and multilingual support. Their regulation by respected authorities offers security, and the variety of account types allows customization based on trading experience and preferences. However, the lack of direct BaFin regulation and potentially limited asset coverage compared to some competitors merit consideration.