We found 11 online brokers that are appropriate for Trading German Forex Platforms.
Germany has managed to establish a strong and healthy economy, owing in part to the few economic issues faced over the years. As the financial sectors in Germany continue to develop, the Forex trading industry also evolves alongside the economic circumstances. However, while traders might note tha there is no legal authority for trading in the Forex in Germany, the brokers based locally are authorized.
While Germany has built a business-friendly environment, regulation is also important as it provides secure conditions to market traders and brokers. Today, Germans are permitted to join the Forex market without any restrictions since the market is liberalised. Still, it can be seen that the set of laws that builds the Forex market is very rigid.
To trade legally in Germany, CFD and Forex brokers are required to be authorized by the local regulatory system of the Federal Financial Supervisory Authority known as the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). Also, they need to be licensed in other regions, as long as it is located within EEA as permitted by MiFID 2004/39/EC.
BaFin authorizes Forex brokers only after they have met specific conditions. A company interested in providing Forex and financial trading services to the citizens of Germany must have enough capital. This capital should not be received on credit but freely accessible. Financial services bodies that assist their clients in trade using financial instruments must possess a capital of at least €125,000. Companies that sell and purchase financial instruments for their accounts also need to have a minimum capital of €730,000.
Since Germany is among the EU members, it follows the laws laid down by the ESMA. ESMA implemented marketing restrictions and leverage for Forex and CFD in 2018. Following the new rules, the maximum leverage permitted when trading non-major pairs is 20:1, whereas the maximum leverage for major currency pairs is 30:1. The restrictions of leverage for cryptocurrencies, commodities, CFDs on equities and more are lower.
Also, other incentives and bonuses used to trade CFDs are generally banned. Brokers are required to apply negative balance protection to prevent the rate of loss. Under the EEA agreement and MiFID derivative, CFD and Forex brokers can offer trading services online without the need of any physical office.
The regulating agency of the online trading industry in Germany is known as BaFin. It was established in 2012 to manage the financial markets in Germany. It monitors financial providers, such as Forex operators, insurance firms, and banking institutions. It should be noted that BaFin does not operate in the same way as regulators in other regions. The federal government is not subsidized but instead, funds itself via the license fees collected from financial agencies that it monitors. BaFin ensures the growth of the financial industry in Germany via supervision of the following industries:
In Germany, trading Forex is legal and governed by the BaFin agency. As a result of the EU's goal to bring together the Eurozone, regulated Forex brokers in other EU states may offer services to German traders. This means that a German trader can trade safely with any broker that follows MiFID. MiFID is legislation that deals with all trades that occur in the Eurozone. A citizen of Germany interested in trading should search for brokers licensed in the EU or a MiFID compliant broker. Some examples of legitimate licences include the FCA in the UK, SMFSA in Switzerland, CySEC in Cyprus, and more.
Germany possesses the most advanced banking industry which is also among the biggest banking sectors worldwide. All primary payment methods are available to German traders, such as mobile payment apps, credit cards, e-wallets, online banking services. However, it is favourable for traders in Germany to ensure that the CFD and Forex broker can process withdrawals and deposits, and accepts preferred payment methods in Euro.
Fortunately, all primary online Forex brokers have applied for the Euro as their base currency. This means that German clients do not need to pay extra fees for currency exchange each time they add capital into their trading account balances. For several traders around Germany, online banking is the still the safest method to withdraw money and add capital to their trading accounts. Payment methods accepted overseas are MasterCard and Visa, which can be found on most Forex brokers' websites.
Also, services like Sofortüberweisung, which means instant bank transfer, is fairly well-known by traders in Germany. Sofort permits traders to move funds instantly to and from their bank accounts in a reliable and secure way.
Overall, Forex trading conditions in Germany are very favourable due to the various options that traders are able to choose from. Given that Germany is part of the Eurozone, this enables traders to also leverage on platforms that are available outside of Germany. Furthermore, the strict regulations that Germany Forex brokers are required to abide by make the trading environment safer for many traders. The fact that the Euro is becoming the base currency for many online Forex brokers also makes it easier for German traders to cut any unnecessary losses that might occur during conversion. Therefore, traders in Germany looking to enter the Forex market should be encouraged to do so as long as they have sufficient capital and knowledge of the industry.
We've collected thousands of datapoints and written a guide to help you find the best Forex Germany for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best German Forex Platforms below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online German Forex Platforms trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top German Forex Platforms.
Compare German Forex Platforms min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are German Forex Platforms. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more German Forex Platforms that accept German Forex Platforms clients
Broker |
eToro
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IC Markets
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XTB
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FP Markets
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Roboforex
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Trading212
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Plus500
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Pepperstone
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EasyMarkets
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XM
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FXPrimus
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Rating | |||||||||||
Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) |
Min Deposit | 200 | 200 | No minimum deposit | 100 | 1 | 1 | 100 | 200 | 100 | 5 | 100 |
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Used By | 17,000,000+ | 180,000+ | 250,000+ | 10,000+ | 10,000+ | 14,000,000+ | 15,500+ | 10,000+ | 142,500+ | 70,000+ | 10,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with fxprimus |
Risk Warning | 67% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money | Your capital is at risk | Your capital is at risk | Losses can exceed deposits |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
FP Markets Demo |
Roboforex Demo |
Trading 212 Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
FXPrimus Demo |
Excluded Countries | IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, IN, PK, BD, NG , ID, BE | US, JP, NZ | US, JP | US | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | BR, KR, IR, IQ, SY, JP, US | US | US, CA, IL, KR, IR, MM, CU, SD, SY | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. |
You can compare German Forex Platforms ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top German Forex Platforms for 2021 article further below. You can see it now by clicking here
We have listed top German Forex Platforms below.