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The Top 10 Best Forex Brokers in Germany revealed. We have rated and reviewed the best Forex Brokers accepting German Traders.
This is a complete listing of The 10 Best Forex Brokers in Germany. In this in-depth write-up you will learn:
- Who is the Best Suited Broker for Beginner German Traders?
- Pros and Cons of Forex in Germany.
- EURO Accounts and how they work.
- EUR (€) Costs of Trading Forex
- Best forex trading platforms for beginners
and much, much more!
The Federal Financial Supervisory Authority (BaFin) – A Definition
The Federal Financial Supervisory Authority (BaFin) is an authority that supervises the financial market in Germany. The Federal Financial Supervisory Authority (BaFin) is an institution under public law.
10 Best Forex Brokers in Germany in 2022 – A Comparison
| 🔎 Broker | 🤝 Accepts German Traders | 💰 Minimum Deposit (USD) | 💰 Minimum Deposit (EUR) | 🚀 Open an Account |
| 🥇 XM | ☑️ Yes | $5 USD | €4,74 EUR | 👉 Click Here |
| 🥈 AvaTrade | ✅ Yes | $100 USD | €95 EUR | 👉 Click Here |
| 📌 Etoro | ☑️ Yes | $50 USD | €47,40 EUR | 👉 Click Here |
| 📌 XTB | ✅ Yes | $100 USD | €95 EUR | 👉 Click Here |
| 📌 IG | ☑️ Yes | $140 USD | €133 EUR | 👉 Click Here |
| 📌 CMC Markets | ✅ Yes | $10 USD | €9,47 EUR | 👉 Click Here |
| 📌 Plus 500 | ☑️ Yes | $100 USD | €95 EUR | 👉 Click Here |
| 📌 FXTM | ✅ Yes | $10 USD | €9,47 EUR | 👉 Click Here |
| 📌 HotForex | ☑️ Yes | $5 USD | €4,74 EUR | 👉 Click Here |
| 📌 OctaFX | ✅ Yes | $5 USD | €4,74 EUR | 👉 Click Here |
10 Best Forex Brokers in Germany (2022)
- ☑️ XM – Overall, Best Broker in Germany
- ☑️ AvaTrade – Highly-Regulated Forex Broker
- ☑️ eToro – High German Trust Score
- ☑️ XTB – Best Mobile Trading Experience
- IG – Low € Minimum Deposit
- CMC Markets – Excellent Technical Tools
- Plus500 – Lowest Overall Costs in EURO
- FXTM – Award-Winning Broker in Germany
- HotForex – Competitive Fees and Spreads
- OctaFX – Best Globally Regulated Broker
XM
Overall, XM.com is considered a trustworthy broker with average risk with spreads as low as 0.6 pips and an above-average trust score of 84 out of 99. XM Group is not a publicly-traded company but is authorized by two tier-1 regulators (high trust).
XM Overview
| 🔎 Broker | 🥇 XM.com |
| 📌 Regulation | FCA |
| 🎉 Bonus | ✅ Yes |
| 🆓 Demo Account | ☑️ Yes |
| 💵 Fees from | $ 3.5 |
| 🔁 Spreads from | 0.6 pips |
| 💳 Commission | Account depending |
| 🚩 Max Leverage | 1:888 |
| 💰 Minimum Deposit | $5 |
| 🚀 Open an Account | 👉 Click Here |
XM Pros and Cons
| ✔️ Pros | ❌ Cons |
| Low stock CFD and withdrawal fees | Limited product portfolio |
| Easy and fast account opening | Average forex and stock index CFD fees |
| Great educational tools | No investor protection for non-EU clients |
Overall Rating
4.5/5
Rated #68 of
Recommended FX Brokers
Minimum Deposit
USD 100
Regulators
IFSC, CySec, ASIC
MT4
Yes
55
Islamic Account
Yes
Trading Fees
Low
24 Hours
AvaTrade
Overall, AvaTrade is considered a low-risk and can be summarized as a trustworthy forex broker. Regarding spread and security, AvaTrade guarantees fast trading speeds and secure trading conditions. In terms of users, AvaTrade has more than 500 000 registered clients globally.
AvaTrade Overview
| 🔎 Broker | 🥇 AvaTrade |
| 💰 Minimum Deposit | $100 USD |
| 🚀Bonus | Open a trading account in 1 minute and receive up to $ 10.000 Bonus. |
| 📱 MetaTrader 4 (MT4) | Yes |
| 📱 MetaTrader 5 (MT5) | Yes |
| 📊Trading Islamic Account | Yes |
| 🎮 Demo account provided | Yes |
| 🚀 Open an Account | 👉 Click Here |
AvaTrade Pros and Cons
| ✅ Pros | ❌ Cons |
| Fee Free Deposit | Limit Offers |
| Low Trading Fees | Inactivity Fee |
| User Friendly | Administration Fee |
Overall Rating
4.8/5
Rated #1 of
Recommended FX Brokers
Minimum Deposit
USD 100
Regulators
ASIC, FSA, CBI, BVI,FSCA,FRSA,CYCES, ISA, JFSA
📱 Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
₿ Crypto
Yes
📈 Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
🕒 Account Activation Time
24 Hours
🏛️ Visit Broker
eToro
Overall, eToro can be summarized as a credible and trustworthy broker and is considered low-risk with competitive trading fees and spreads. Etoro has an overall trust score of 91 out of 99. eToro offers a world-class social trading platform with immediate order execution.
eToro Overview
| 🔎 Broker | 🥇 eToro |
| 📌 Regulation | FCA, ASIC, CySEC |
| ☪️ Islamic account | ✅ Yes |
| 👍 Demo Account | ☑️ Yes |
| 💰 Minimum Deposit | $50 USD |
| 📊 Institutional Accounts | ❌ No |
| 📊 Managed Accounts | ✅ Yes |
| 📈 Maximum Leverage | 20:1 |
| 🚀 Open an Account | 👉 Click Here |
eToro Pros and Cons
| ✔️ Pros | ❌ Cons |
| Used by 6,000,000+ traders | Doesn’t allow scalping |
| Established in 2006 | Inactivity Fee |
| Regulated by FCA, CySEC, and ASIC | Limited range of instruments |
Overall Rating
4.8/5
Rated #20 of
Recommended FX Brokers
Minimum Deposit
USD 50
Regulators
CySec, FCA
No Trading Desk
Yes
47
Islamic Account
Yes
Trading Fees
Low
24 Hours
* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.
XTB
Overall, XTB can be summarized as a trustworthy broker with a reputable reputation that provides Contracts for Difference (CFDs) and trading facilities on shares, forex, commodities, cryptocurrencies, ETFs, options, indices, and user-friendly trading conditions to a global market.
XTB Overview
| 🔎 Broker | 🥇 XTB |
| 💰 Min. Deposit | None |
| 🛑 Inactivity Fee | $10 USD |
| 🆓 Demo Account | ✅ Yes |
| 🔁 Spreads from | 0.1 |
| 📌 Commissions | Pro Account |
| 🎉 Sign Up Bonus | ✅ Yes |
| 🚀 Open an Account | 👉 Click Here |
XTB Pros and Cons
| ✔️ Pros | ❌ Cons |
| Lowest FX spreads | Does not accept U.S. clients |
| Regulated by FCA (U.K.) | Non-FX spread costs are high |
| Offers protection for client accounts | No guaranteed stop loss |
| Emphasis on customer service | No back-testing or automated trading capabilities |
Overall Rating
4.6/5
Rated #69 of
Recommended FX Brokers
Minimum Deposit
USD 250
Regulators
FCA, CySEC, IFSC, KNF
No Trading Desk
Yes
48
Islamic Account
Yes
Trading Fees
Low
24 Hours
IG
IG Group can be summarized as a trustworthy broker that provides user-friendly trading conditions and quality educational material. It can be considered a low-risk option that is an excellent fit for pro traders.
IG Overview
| 🔎 Broker | 🥇 IG Group |
| 💰 Trading Fee Class | High |
| 💵 Inactivity Fee | ☑️ Yes |
| 💳 Min. Deposit | $140 USD |
| 📌 Base Currencies | 6 |
| 🆓 Demo Account | ☑️ Yes |
| ⚙️ Products Offered | ETF/Forex/Options |
| 🚀 Open an Account | 👉 Click Here |
IG Pros and Cons
| ✅ Pros | ❌ Cons |
| Excellent Web-Trading Platform | High Fees |
| Educational Tools | Limited Product Portfolio |
| Great deposit and withdrawal options | Lacking Support |
Overall Rating
4.8/5
Rated #38 of
Recommended FX Brokers
Minimum Deposit
USD 0
Regulators
FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF.
MetaTrader 4
Yes
80
Islamic Account
Yes
Trading Fees
Low
24 Hours
CMC Markets
Overall, CMC Markets can be summarized as a trustworthy broker that provides Contracts for Difference (CFDs) and low spreads. It is regulated by five tier-1 regulators (high trust) and one tier-2 regulator (average trust). It has a trust score of 99 out of 100.
CMC Markets Overview
| 🔎 Broker | 🥇 CMC Markets |
| 💰 Min. Deposit | $10 USD |
| 🛑 Inactivity Fee | ☑️ Yes |
| 💻 Demo Account | ☑️ Yes |
| 💵 Base Currency | 10 |
| 🚀 Open an Account | 👉 Click Here |
CMC Markets Pros and Cons
| ✔️ Pros | ❌ Cons |
| Low forex fees | High stock CFD fees |
| Great mobile platforms | Only CFDs available |
| Advanced research tools | Customer support only 24/5 |
Overall Rating
4.7/5
Rated #227 of
Recommended FX Brokers
Minimum Deposit USD 0
Regulators FCA, ASIC
–
Yes
📈 Total Pairs
300
Islamic Account No
Trading Fees Low
24 Hours
Plus500
Plus500 is a tier 1 regulated CFD broker that offers low trading and commission fees. It has an overall high trust score of 97% out of 100 with a low-risk trading environment.
Plus500 Overview
| 🔎 Broker | 🥇 Plus500 |
| 💰 Min. Deposit | $100 USD |
| 🆓 Demo Account | ☑️ Yes |
| 🔁 Spread | Variable |
| 📈 Leverage | 1:30 |
| 💵 Base Currencies | 14 |
| 📉 Withdrawal Fee | ❌ No |
| 📊 Deposit Fee | ❌ No |
Plus500 Pros and Cons
| ✅ Pros | ❌ Cons |
| User-Friendly | Lack in Research Tools |
| Low Trading Fees | Average Education |
| Listed on the London Stock Exchange | Limited Product Range |
Overall Rating Rated #55 of USD 100 CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA Yes (Availability subject to regulations) 📱 Trading Platform WebTrader 70 Low Varies
4.9/5
Recommended FX BrokersMinimum Deposit Regulators Trading Fees
FXTM
Overall, FXTM can be summarized as a trustworthy broker that provides Contracts for Difference (CFDs) and trading facilities on shares, forex, commodities, cryptocurrencies, ETFs, options, and indices to a global market.
FXTM Overview
| 🔎 Broker | 🥇 FXTM |
| 📝 Regulation | FCA / FSCA |
| 💰 Min. Deposit | $10 USD |
| ☪️ Islamic Account | ☑️ Yes |
| 🆓 Demo Account | ☑️ Yes |
| 📈 Max Leverage | 1:2000 |
FXTM Pros and Cons
| ✅ Pros | ❌ Cons |
| Excellent Customer Service | High Stock CFD Fees |
| Great Educational Tools | Inactivity Fee |
| No Deposit Fee | No Price Alert |
Overall Rating
4.6/5
Rated #32 of
Recommended FX Brokers
Minimum Deposit USD 10
Regulators CySec, FSCA
MetaTrader4, Metatrader 5
Yes
📈 Total Pairs
–
Islamic Account No
Trading Fees Low
24 Hours
HotForex
Overall, HotForex rebranded as HFM Markets can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and low spreads on 100+ trading instruments. It is regulated by one tier-1 regulator (highest trust) and three tier-2 regulators (medium trust). It has a trust score of 95% out of 100.
Hotforex Overview
| 🔎 Brokers Name | 🥇 HF Markets Ltd |
| ⚖️ Regulation | CySEC, FCA, FSCA |
| 💳 Minimum deposit | $5 USD |
| 💰 Maximum Leverage | 1000:1 |
| 🔘 Asset Types | Forex, Metals, etc. |
| 📊 Trading platforms | Web, MT4, MT5 |
| 📈 Types of accounts | Premium: min $100 Zero Spread: min $200 Auto: min $200 HFcopy: min $500 |
| 💳 Supported lot | 0.01 - 500 |
| 💳 Demo | ☑️ Yes |
| 🚀 Open an Account | 👉 Click Here |
HotForex Pros and Cons
| ✔️ Pros | ❌ Cons |
| Segregates client funds | Limited range of instruments |
| Regulated by CySEC | Not FCA Regulated |
Overall Rating
4.8/5
Rated #6 out of 66
Recommended FX Brokers
Minimum Deposit
USD 5
Regulators
CySEC, FCA, FSA, DFSA, FSCA, CMA
MT4, MT5
No
50+
Islamic Account
Yes
Trading Fees
Low
24 Hours
OctaFX
Overall, OctaFX can be summarised as a trustworthy and worthwhile broker with a trust score of 90 out of 100. OctaFX is very competitive in terms of its trading fees, with low spreads rounding off its offerings.
OctaFX Overview
| 🔎 Broker's Name | OctaFX |
| 📍 Headquartered | Kingstown, St Vincent, and the Grenadines |
| 📅 Year Founded | 2011 |
| ⚖️ Regulating Authorities | SVGFSA |
| 🌐 Countries not accepted for trade | The United States, Canada, Belgium, and others outside Europe |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | No |
| 📈 Maximum Leverage | 1:500 |
| 💰 Minimum Deposit | 5 USD |
| 💳 Deposit Options | Visa Bitcoin Skrill Neteller |
| 💳 Withdrawal Options | Visa Bitcoin Skrill Neteller |
| 💻 Platform Types | MetaTrader 4, MetaTrader 5, cTrader |
| 📱 OS Compatibility | Desktop, iOS, and Android |
| 📈 Tradable assets offered | Forex, metals, stock indices, cryptocurrencies, and energies |
| 👨💼 Languages supported on Website | English, Indonesian, Malay, Hindi, Urdu, Thai and Vietnamese |
| 👥 Customer Support Languages | English, Indonesian, Malay, Hindi, Urdu, Thai and Vietnamese |
| 📆 Customer Service Hours | 24/7 |
| 🚀 Open an Account | 👉 Click Here |
OctaFX Pros and Cons
| ✔️ Pros | ❌ Cons |
| octafx.eu domain is Regulated and authorized by CySEC | Limited assets |
| Unlimited demo account | Low Crypto coverage |
| Advanced technology | No VPS |
| Forex and CFDs offered | No education tools on Forex |
| More than 30 FX pairs to trade | Telephonic support not available 24/7 |
| No commission deposits or withdrawal options | No clients from USA, Canada, Belgium, or others outside EU |
Overall Rating
4.8/5
Rated #8 of
Recommended FX Brokers
Minimum Deposit
$5
Regulators
SVGFSA
MT4, MT5
Yes
80
Islamic Account
Yes
Trading Fees
Very Low
24 Hours
🏛️ Visit Official Website
Conclusion
👉 Now it is your turn to participate:
➡️ Which German broker from this list do you intend to test out?
➡️ What was the determining factor in your decision to engage with a certain broker?
➡️ Was it because of the EUR (€) minimum deposit or the Pros and Cons?
👉 Regardless, please share your thoughts in the comments below.
You might also like: XM Review
You might also like: AvaTrade Review
You might also like: HotForex Review
You might also like: Etoro Review
Disclaimer
Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader.
Traders need to ensure that they understand their risk exposure and they need to determine whether the risk involved is suited to them before making trading decisions that could result in loss of capital.
Frequently Asked Questions
Is forex trading legal in Germany?
Yes. Forex Trading is 100% legal in Germany.
Which is the most used forex broker in Germany?
According to research, AvaTrade is the most popular broker choice in Germany.
How many forex traders are currently active in Germany?
The rough estimate is approximately 150 000 active German traders per month.
Can you make money with forex trading in Germany?
Yes. However, according to research, approximately 75% of all traders lose money due to a wide number of factors.
Who regulates Forex Trading in Germany?
Forex trading in Germany falls under the regulatory authority of the Federal Financial Supervisory Authority (BaFin).
Top 4 Brokers
