Best Forex Brokers in Germany

Interactive Brokers – Best Forex Broker Overall 1. Low Trading Fees – Commission from $1 USD per lot and low spreads. 2. Advanced Trading Platforms – Highly advanced platforms for Desktop and Mobile devices. 3. Multiple Instruments – Interactive Brokers offers CFD and actual physical instruments. 4. Wide Choice Of Funding – Lots Of Options to deposit and withdrawal funds Strength 1 – Interactive Brokers Offers The Lowest Commission Fees Interactive Brokers combine quotation streams from 14 of the largest foreign exchange dealers in the world to achieve tight spreads. Forex CFD spreads start at 1.0% for EURUSD and can go as low as 0.5% with larger balance accounts. Exotic pairs and cross pairs generally have wider spreads as they are more volatile. Interactive Brokers spreads are variable so may widen when during major economic events. Commissions on Forex pairs start with a minimum of $2.00 USD per 0.20 lot size order. The larger your lots are, the better value your commission will be. German traders can enjoy even lower commissions by trading high volume orders. When it comes to comparing commission costs with other brokers, we consider Interactive Brokers to offer some of the best value. Interactive Brokers apply an inactivity fee of $10 per month on accounts with a balance of less than $2,000 and for accounts that don’t generate a minimum of $20 USD in commissions. Accounts with $2,000 balance or more have a $10 USD monthly inactivity fee. Strengths 2 – Advanced Trading Platforms Interactive Brokers offers different platforms for trading with desktop and mobile: Client Portal The ‘Client Portal’ platform key feature is that it includes all the essential trading tools you will need from a single portal. Client Portal does this by striking a nice balance design and function which makes their interface clean and orderly and has the added benefit of allowing you to do away with additional monitors. These features make it a great platform for beginner traders. Client Portal portal accounts can be set up without any downloads needed, key features include: - Quick trading with easy order placing, open order managing, and recent trades access - Advanced charting with detailed quotes and live news feed - The ability to track your orders with portfolio performance - Desktop TWS (Trader Workstation) - Desktop platform - Long considers Interactive Brokers premium platform for professional trader, Desktop TWS platform is now available for all levels of trader. The platform shines if you trade multiple instruments as Desktop TWS allows you to take full advantage of the wealth of offerings - - Interactive Brokers have to offer among their 1000+ products. Major features include: TWS Mosaic which provides access to charts, trade orders, watchlist, and customizable workspace Paper Trading which allows trading without risking your money and practicing your trading skills Access to over 100 order types and algos Real-Time Monitoring tools so you can see details demonstrating the success of your trading account as all times Comprehensive financial analysis and live market news with via sources such as Reuters, Dow Jones, and Morningstar WebTrader platform IBKR WebTrader — IBKR PRO IBKR Pro is Interactive Brokers Web-based trading platform. It is similar to the Desktop TWS but with a simpler interface including. It is a great option if you wish to trade on-the-go. IBKR Mobile platform IBKR provides access to your trading account from your phone or tablet with focus on: - Offering access to more than 135 markets worldwide and innovative trading tools - Fast pre-authorization of large orders to ensure security - Interactive Brokers Key two-factor security keeps your account safe with a passcode - Deposit of funds quickly and directly to your account through your phone or tablet about - Ibot platform IBot is the artificially powered interface available with all Interactive Brokers platforms that give you the ability to place orders, obtain quotes, and search for data and information using your own words and phrasing based on: - Natural-language text commands - Instant access to charts with simple words - The use of natural language to place orders helps you find and action what you need quickly with maximum ease. This feature makes IBKR platforms great for beginners as it removes the need to use specific and complex terms when carrying out actions. IBKR APIs — IBKR PRO Customize your trading platform experience with: API technology allowing you to build your own trading applications. Strength 3 – Range Of Instruments Available for Trading Interactive Brokers offer a full range of markets available to trade. Interactive Brokers offers access to 135 markets in 33 different counties using 23 types of currencies. The broker is unique in the online forex broking industry because they offer the opportunity to trade with both the underlying instrument and the CFD and allows for you to deal with many exchanges rarely offered by other online brokers. Forex and Forex CFD trading is available on 23 currencies worldwide with no hidden spreads and commissions. Interactive Brokers use an ECN like market structure to achieve tight spreads. Stock and Stock CFD trading across 135 markets from 33 countries on a single account. Unique Stock exchanges include Tel Aviv, Vienna, Germany and Australian, and Hong Kong, India, Singapore, and Japan. Index CFD – This allows you to gain exposure to the broad market Commissions range from 0.005% to 0.01% Options trading with commission rates ranging between $0.15 and $0.70 per US options contract. Futures/FOP trading is available on more than 35 market centers worldwide. Market center include Eurex (DTB) in Germany, EUREX (Soffex) in Switzerland, Bosa Italiana in Italy and the Singapore Exchange Metals trading offers trading instruments of Gold and Silver with low and transparent commissions. Bonds trading of over 38,000 bonds, 850,00 municipal securities, and 33,00 CDs. Exchange-Traded Funds (ETF) is available to trade on 28 exchanges across 14 countries for bond and equity indices. Exchange for Physical (EFP) offers trading when you sell stock and buy it back for future delivery by buying Single Stock Future (SSF) or you buy the stock and sell the SSF. IB Markets Strength 4 – Deposit & Withdrawal Interactive Brokers has no minimum deposit requirements for each of their Forex accounts. Deposit payment method supported by Internative Brokers include: - Bankwire - Bank Check - Online bill payment check - Automated Clearing House (ACH) transfers that are initiated by Interactive Brokers, - Direct Rollover (Only on IRA Retiree accounts) - Trustee-to-Trustee (Only on IRA Retiree accounts only) - All payment methods have a $0 fee. Interestingly, Interactive Brokers do not allow deposits with Credit Cards and Debit Cards such as Visa, Mastercard, or with PayPal. Interactive Brokers Deposit Methods Withdrawal payments methods supported: - Bankwire - SEPA (Eurozone Payment Area) and must be initiated by Interactive Brokers - BACS (Withdrawals by GBP only) - GIRO/ACH (HKD, CNH, and SGD only) - NZD ACH (Withdrawals by NZD withdrawals) - Interactive Brokers allows one free withdrawal each calendar month but all fees thereafter will incur a fee. Withdrawal by bank wire will incur a fee of 8 Euro. Withdrawal limits apply for each day and in total over 5 business days. Having a Secure Login System will allow unlimited withdrawals. Interactive Broker Withdrawal Limits Withdrawals will usually be done on the same day if a request is made before closing and must be to an account in your name. Summary of Interactive Brokers Interactive Brokers is our best forex broker in Germany suited for traders with wanting to trade a large range of CFDs and even the underlying instruments with low spreads and some of the best commissions in the broking industry. The brokers offer a good selection of trading platforms for all levels of traders wanting to use all types of trading platforms and have some unique offerings such as IBot. XTB – Save With STP Tight Spreads With more than 15 years of experience and multiple awards as a European broker, XTBs main strengths are: 1. Tight spreads 2. Customer Support Satisfaction & Awards 3. Educational content Key Strength – XTB Has Tight Spreads And Costs XTB offers tight and competitive spreads for most of the major pairs for online trading. Spreads for the standard forex trading account with no commission starts from 0.70 pips on EUR/USD pairs and spreads for accounts with commission start with 0.30 pips for EUR/USD. Index CFDs start with spreads of 0.5 pips and 42 indices are on offer in total. Commodity CFD instruments start with 0.01 pips and 22 commodities are available in total. Cryptocurrency trading pairs have a 0.5% of market price spread and with 25 cryptocurrencies available to trade as Bitcoin, Ethereuem and more. The tightest spreads can be found with the XTB pro account. This account uses straight-through-processing (STP) execution to achieve low spreads with fast execution. With this account, you will pay €3.50 per lot side trip or €7 round-turn when trading forex. Cryptocurrencies will also incur a fee of €3.50 while Stock CFDs and ETD CFD commission starts at 0.08% per lot. If you don’t wish to pay commission costs when you trade. You may prefer the Standard account. This account has wider spreads compared to the Pro Account so it has a different cost structure. Active Trader Discount XTB offers a program of active trader discount program allowing you to earn discounts on spreads between 5% and 30% if you trade in certain volumes. To earn 5% spreads discount you need to trade at least 20 lots To earn 10% spreads discount you need to trade at least 50 lots in a period of 30 days To earn 20% spreads discount you need to trade at least 300 lots To earn 30% spreads discount you need to trade at least 1000 lots Active Traders Discount Key Strengths 2 – XTB is A Multi-Award Winning Broker XTB has received numerous awards and achievements which reflects the high level of service they offer. Awards they have one include: 2019 FinTech Business Awards – Finalist – Investment Innovator of the Year 2019 FinTech Business Awards – Finalist – Personal Finance Innovator of the Year CSS Design Awards – SPECIAL KUDOS Creative International Awards – SILVER Website of the day – Website Design Awards XTB Awards XTB Has Good Customer Support And Services XTB operates on 11 locations with offices in Europe and Asia and offers the following support: Live Chat – Available 24 hours a day and 5 days a week Email Support – 1 Day response time and available 7 days a week Phone Number – Available 24 hours a day and 5 days a week. XTB Google Map Key Strength 3 – XTB Is A Leader In Forex Educational Content XTB provides educational content from basic to advanced lessons with free courses, articles, and webinars. The educational courses cover 4 levels of experience with the basic package explaining the elementary lessons about Forex, the intermediate package to advance consisting of lessons of technical and fundamental analysis. Expert mode teaches you advanced techniques of trading and the Premium package is made up of premium materials including advice from the best traders. Trading course XTB Summary XTB offers low and competitive spreads and is one of the best German forex brokers for low fees in the Forex market. To started trading you will need a minimum of $250 deposit and the educational content provided for free for new traders helps to improve the trading skills. XTB has the regulation of BaFin in Germany, in addition to the regulation by the Financial Conduct Authority (FRN 522157) Admiral Markets – Trade With MetaTrader 4 & 5 Platform Admiral Markets offers a comprehensive experience with key strengths being: 1. MetaTrader 4 and MetaTrader 4 Supreme 2. Flexible Trading Accounts Strenght 1 - MetaTrader 4 & MetaTrader 5 Supreme Edition MetaTrader 4 and the Supreme edition boost your trading experience with the most advanced tools to improve your trading experience. The platform is designed to offer you to take full advantage of your skills in trading. Providing daily economic news and allowing you to analyze your trading results history in real-time. A package of the latest indicators gives you more chart information. Mini chart feature shows you small charts in different timeframes for a better analyzing experience of trading. Some of the most important features and tools are: Global Opinion Widget Mini Terminal Trade Terminal Real-time News 10+ indicators MT4 Supreme Strength 2 - Admiral Market Offers Flexible Trading Accounts Admiral Markets allows you to choose from 4 types of trading accounts which allows you the flexibility to choose a trading arrangement that suits your preferences. Two of these accounts are designed for traders that prefer to use the MetaTrader 4 trading platform. These are the ‘Trade MT4’ and ‘Zero MT4’ accounts. The other two accounts are for traders who prefer MetaTrader 5. These accounts are the ‘Trade MT5’ and ‘Zero MT5’ accounts. The ‘Trade MT4’ and ‘Trade MT5’ accounts are commission-free accounts so spreads are at least 0.5 pip wider compared to the ‘Zero’ accounts for major currency pairs and closer to 1.0 (often 1.5 pips or more) pips for minor and exotic currency pairs however you will have the benefit of being able to choose from a greater range of CFDs compared the the ‘Zero’ accounts. These include bonds, stocks, index futures, cryptocurrencies, and spot agriculture. ETF CFDs are available only with the ‘Trade MT5’ account. Traders with the Zero Account will have tighter spreads and the following commissions but will pay a commission of $1.80 USD to $3.0 USD depending on the volume traded. Admiral Markets Accounts The most unique aspect of the Admiral Markets trading account is the flexibility allowed when it comes to trading currencies. You can make deposits from a wide choice of currencies which will then be converted to the applicable currency. Admiral Markets even allows you to protect yourself from currency fluctuation by having multiple accounts simultaneously and will facilitate the transfer of funds between internal accounts via their platforms. As Admiral Markets as regulated by Financial Conduct Authority (FCA), FRN: 595450, and Cyprus Securities and Exchange Commission (CySEC) license number 201/13 you can choose which regulator you wish to sign up with when joining Admiral Markets. Summary When you wish to trade with the MetaTrader platform and have a choice of trading account and base currencies Admiral Market’s presents a very solid option. Plus500 – Safer Trading With Risk Management 1. Friendly and easy to use platforms 2. Superb risk management 3. Unique CDF option Strength 1 - Friendly platform Plus500 offers its custom CFD platforms for desktop and mobile to give you a comprehensive trading experience. The platform is designed to help you navigate easily between trading instruments and clients can deposit funds quickly via the desktop application. MetaTrader 4 cannot be integrated on Plus500 application and algorithmic trading is not supported. The mobile trading app offers full functionality to monitor markets. The toggle switch from life to demo account allows traders to practice trading quickly. The mobile app can be accessed from iOS devices, android devices, and supports the windows phone apps. Easy platform to use Strength 2 – Plus500 provides the best risk management Plus500 offers excellent risk management tools to help traders with risk management. Key risk tools to help protect your investments include guaranteed stops and guaranteed negative balance protection. Electing to use a guaranteed stop-loss for a small fee incorporated into the spread ensures safety for your investments. Unlike other platforms, the Plus500 platform executes the stop-loss price at your specified price with no slippage. Guaranteed Stop is not available to use for all instruments. Plus500 like all brokers that are overseen by a European regulator also offer guaranteed negative balance protection for retail investors. Negative balance protection means your account will never fall below $0. This feature is inclusive so you do not need to opt-in or out when trading. Note: A professional account is also available. Provided you meet 2 of the following requirements you will be able to trade with higher leverage that retail traders but will lose automatic guarantee negative balance protection. Have you made at least 10 significant transactions per quarter in the last year Your portfolio exceeds 500,000 EUR You have worked in the financial industry for at least 1 year? Strength 3- Unique CFD Options Plus500 offers over 2,000 CFD trading instruments including several unique options found with few if any other online brokers. Like most CFD providers, Plus500 offers cryptocurrencies, indices, forex, and commodities however some uncommon options can be found such as hogs when trading soft commodities. CFDs available include: - 60+ Forex CFD currency pairs with leverage as high as 30:1 for majors - Trade all the worlds biggest CFD Stocks on NYSE, NASDAQ and London Stock Exchange with leverage of 1:5 - Cryptocurrencies CFD including XRP, IOTA, Stellar, EOS, Bitcoin Cash ABC, Cardano, Tron, Monero is available with leverage as high as 1:2. - 24 Commodities including hogs, live, and feeder cattle. Leverage is from 1:20 In addition to the common offers some unique options including: - Crypto 10 CFD: A cryptocurrency index basked consisting of 10 cryptos - Sector Indices CFD: Cannabis stock, battery and lithium, UK Brexit and real estate giants - 23 National Stock Exchange CFDs such as Germany, Japan, France, Australia, Belgium, and Sweden - 400+ Options with leverage from 1:5 - 93 ETFs with leverage from 1:5 Summary With risk management protections, Plus500 is the best CFD provider in Germany for traders wanting to trade with a level of safety. Plus500 range of markets for trading CFD also makes them an excellent choice for traders looking to invest in niche products that are no easily found with other brokers. Plus500 is regulated in Germany with BaFin license and regulated also from the Financial Conduct Authority (FCA). IG – Flexible Trading With CFD Range Of Markets IG Markets is an established broker with nearly 50 years of experience providing brokerage services. Overseen by top-tier European financial authorities, IG Markets is seen as a trusted broker by 178,000+ customers around the world. As well as being licensed in Germany and overseen by BaFin, the broker adheres to the strict regulation set by the Financial Conduct Authority in the United Kingdom. IG Broker Strength 1 -CFD Product Range Customers trading with IG Markets gain access to over 17,000 financial instruments across a range of asset classes: - Forex: Choose from nearly 100 major, minor, exotic and emerging Forex pairs with no commission and leverage up to 30:1 - Indices: Over 80 indices markets are available with fixed spreads from 0.4 pips from the following markets FTSE 100, Germany 30 and Wall Street - Shares: 12,000+ global stocks CFD are available including all the most popular indices. German stocks can be traded from 5 euro - Commodities:26 raw commodities are available plus the availability of future contracts - Cryptocurrency: 5 types of cryptocurrencies including Bitcoin and a Crypto 10 index - Other Markets: Trade markets such as Options, ETFs, Interest Rates, Market Sectors, and Bonds. IG CFDs With 45 years of operating and over 178,000 clients worldwide, IG is one of the world’s oldest foreign exchange brokers. Strength 2 IG Markets provides customers with its own powerful trading platforms available via desktop platform or mobile trading app and a choice of other platforms. The IG trading platform has the following key features - Clean and simple interface with an overview of market prices, spreads, and leverage - Risk protection features such as guaranteed stops - Optimised and transparent conversion charge when choosing currencies for trade - Choice of Automatic Alert tools when price levels are triggered - Automation of orders with conditional order setting - 28 indicators - 4 timeframes from a single chart - Tick by tick to monthly performance timeframe analysis - Fast execution – IG platform handles 7 million orders each month from 130,000 users. - Partial fills to minimize the chances of rejection for large order sizes. - IG Platform Other platforms include ProRealTime Order which is known for its range of charts and indicators and MetaTrader 4 which is the world's most popular trading platform. eToro – Copy The Best With Social Trading eToro’s social-copy trading platform has quickly become one of the leading accounts of mirroring services worldwide. The social newsfeed copy trader system offers the generational social trading platform. With mobile and desktop trading access over 10 million users from 140 countries and multiple major instruments available. eToro platform Strength – Social Trading eToro’s social-copy trading network and platform allow retail investors to copy the trading strategies of experienced traders. Customers can follow and copy the trades eToro’s ‘Popular Investors’ that suit their risk profile and financial instruments. To choose Popular Investors, eToro customers can view their trading history and success, along with location and risk levels. Additionally, traders can choose to invest in CopyPortfolios. Available as a bundle of eToro’s top-performing investors, or as a mix of different financial instruments and asset classes, the portfolio management service allows traders to minimize the time spent researching Popular Investors to follow and copy. eToro CopyPortfolios Germany eToro offers a wide range of instruments including crypto, ETFs, Stocks, Indices, Commodities and Forex currencies. CMC Markets – Start With No Minimum Deposit Strength 1 – No Minimum Deposits CMC Markets is a fully-regulated broker offering competitive spreads and wide market access. As part of their CFD account, traders can open their account with no minimum deposit. Most traders have minimum deposit requirements often in the range of $200 or higher because they only want serious traders who will trade amounts that will give the broker decent profit however brokers may want a $0 deposit account for the following reasons You simply want to open an account to access the features the broker offers such as educational tools or support desk You want to open an account but wish to commence trading at a later point in time You wish to open an account and transfer the funds from another account You need an account to access the demo platforms You wish to deposit only a small amount so you can trade in micro or mini lots Strength 2 – CMC CFD Product Range Customers can choose between two accounts. The first account is called “Next Generation Account” as it users the broker's proprietary trading platform, Next Generation. The other account is MetaTrader 4 (MT4) account. The Next Generation is a fully-customizable platform available on iPad, iPhone, Android, and desktop, while MT4 is offered as a desktop, web trader, or mobile app platform. CMC Markets customers can trade over 10,000 CFD products covering asset classes such as Forex, indices, crypto, treasuries, shares, ETFs, and commodities. To take full advantage of these CFD instruments you will want to select the “Next Generation Account” as only 50 or so trading instruments are available with the MT4 account. Cryptocurrencies and ETFs are no available on MT4 for example. CMC Products Features the CMC Markets account offers to include: - Advanced charting and technical analysis tools - Multiple order types including Guaranteed Stop Loss Orders - Client sentiment data and pattern recognition software (Next Generation) - Forex spreads as low as 0.3 pips on major currency pairs - Cash rebates for CFD and Corporate accounts. - Educational resources including seminars and webinars - Real-time market news HYCM – Best For MetaTrader 5 HYCM is one of the most recognized names in the Forex trading industry with more than 40 years of experience. HYCM offers access to 140 countries with BaFin regulation in Germany and also licensed by the Financial Conduct Authority of the UK (FCA), Cyprus Securities and Exchange Commission (CySEC) within Europe. Strength 1 – MetaTrader 5 Those trading CFDs and forex with MetaTrader 5 and HYCM can enjoy a range of advanced trading tools. The third-party trading platform is well known for its Expert Advisor features, where traders can develop automated trading strategies using the MQL5 programming language, or download others’ EAs from the MetaTrader marketplace. Additionally, MT5 users can utilize trading platforms: - Multi-asset product range, including shares - Automated trading with Expert Advisors and Trading Signals - Multi-thread, multi-currency backtesting - Ultra-fast execution - Extensive technical analysis tools - Multiple order types to manage the high risk of CFD trading - MT5 HYCM Strength 2 – Account & Fees HYCM offers three account types of trading: Fixed, Classic, and Raw. Fixed accounts have fixed spreads from 1.8 pips with no commission. Classic account holders gain access to variable spreads 1.2 pips with no commission, while raw account holders can trade spreads as low as 0.2 pips while paying a commission of $4 USD per round. HCM Account Types Strength 3 – Deposit & Withdrawal All deposit and withdrawal methods are free of charge when trading forex and CFDs with HYCM. A variety of methods are available, with a low initial minimum deposit of $100 required to start trading. HYCM offers deposit and withdrawal of funds with Bank Wire, Credit Card (Visa/Mastercard), WebMoney, Neteller, and Skrill. About BaFin BaFin regulation grants operation of Forex and CFD brokers in Germany by Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht or BaFin), BaFin license is given to brokers after meeting their trading conditions. The German financial services sector is regulated by the Deutsche Bundesbank and the Central Bank in the Federal Republic of Germany in cooperation with the German financial regulatory agency Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). Brokers operating within regulated by an authority with the ESMA region such as CySEC and FCA can also operate in Germany. To verify a Forex and CFD broker if it holds the license by BaFin, you need to find the BaFin registration number at the bottom of the broker’s website. Conclusion Forex trading is legal in Germany and forex brokers need to be regulated with BaFin license to operate. Risk warning: Trading CFDs comes with high risk and to find the right forex broker for online trading we have listed on this article the best forex brokers in Germany for fees, platforms, spreads, deposit, and more.