Best Forex Brokers in Germany

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Forex trading continues to gain global popularity, including in Germany. This has led to many forex brokerage firms entering the industry, making it challenging for Germans to identify the best forex brokers in Germany to trust. 

To help you with the search processes, we have created a list below of the best forex brokers in Germany. They have all been tested, reviewed, and ranked by our experts, making it easier for you to choose based on your preferred forex trading category.

Our list of the Best Forex Brokers in Germany
15,599 User Reviews
4.6 rating
4.6
Visit site Read Review
Risk Warning
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.
140,745 User Reviews
3.9 rating
3.9
Visit site Read Review
Risk Warning
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.
113,196 User Reviews
4.0 rating
4.0
Visit site Read Review
Risk Warning
77% 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.
3,779 User Reviews
4.1 rating
4.1
Visit site Read Review
Risk Warning
69% 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.
2,029 User Reviews
3.6 rating
3.6
Visit site Read Review
Risk Warning
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.
44,573 User Reviews
3.1 rating
3.1
Visit site Read Review
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
How we test?

OnlineTrading aims to provide quality, simple, and proven information to its readers. Our team of financial experts carefully checks every detail to provide a unique and comprehensive guide to safe trading around the world.

Feedback from regular users is very important to us, so we try to consider the opinions of reviews and feedbacks from several trusted platforms. We spend about 100 – 250 hours analysing and collecting information on each trading platform to ensure our recommendations are reliable.

Naturally, we always remain impartial, honest and recommend only licensed and reliable brokers.

Read more about our test process here.

Compare Best Forex Brokers in Germany of 2022

OnlineTrading experts took their time to compare and rank forex brokers in Germany. We conducted multiple tests that included confirming forex brokers in Germany’s credibility, platform performance, trading assets and tools, commission, customer service and more.

We also reviewed how users rated forex brokers in Germany and identified the highly rated ones. The results from these two procedures are what we combined and came up with the below recommendations. Take a look at our summary table below on how OnlineTrading experts rated forex brokers in Germany.

license logo
Regulations/Licenses
payment logo
Minimum Deposit
Available Assets
Demo Account
payment methods
Payment Methods
money insurance logo
Money Insurance

Compare with other broker
License
Minimum deposit
Forex Assets
Demo account
Payment & Withdraw options
Money Insurance
AvaTrade logo
Visit site
Risk Warning
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.
Read Review
FSC, ADGM, ASIC, FSCA, FSA, FFA, FRSA, CySec, ISA
$100
59
Yes
Credit Card, FasaPay, MoneyGram, Perfect Money, Skrill, Swift, Webmoney, Western Union, Wire Transfer
Yes, up to €20.000
eToro logo
Visit site
Risk Warning
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.
Read Review
ASIC, CySec, FCA, FSAS, FSCS
$200
47
Yes
Credit card, PayPal, Bank transfer, Neteller, Skrill, WebMoney
Yes (up to $115,793)
Plus500 logo
Visit site
Risk Warning
77% 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.
Read Review
ASIC, FCA, FSCA
$100
70+ (CFDs only)
Yes
Bank Wire Transfer, Credit cards, Paypal, Skrill
CMC Markets logo
Visit site
Risk Warning
69% 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.
Read Review
FCA, BaFin
No
338
Yes
Credit cards, Paypal
Yes (up to $115,793)
Forex.com logo
Visit site
Risk Warning
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.
Read Review
CFTC, ESMA, FCA
$100
91
Yes
Bank Wire Transfer
Yes (up to $115,793)
IG Markets logo
Visit site
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Read Review
ASIC, FCA, FSCA, PRA
$250
90
Yes
Paypal, Bank Wire Transfer, Credit cards, Neteller, Skrill
Yes (up to $115,793)

Compare brokers

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1. AvaTrade – Overall Best Forex Broker in Germany

AVATrade
AVATrade
AVATrade
AVATrade
AVATrade
AVATrade
AVATrade
AVATrade

Any German forex trader looking for a customisable trading platform with user-friendly features should try AvaTrade. This forex broker is safe for your trading needs and offers excellent research tools to help you with analysing the financial markets. You can also quickly build your forex trading skills with the learning materials it hosts. 

AvaTrade is an easily navigable forex broker. You will choose from its multiple forex trading platforms and enjoy the convenience and flexibility you need to improve your trading experience. These platforms include the web trader, MT4, MT5, and the AvaTradeGO app that can easily be downloaded and installed on your mobile device.

If you are a newbie with minimum time to conduct market research and analysis, AvaTrade has the AvaSocial platform for you. You can benefit from this platform by interacting with other forex traders and mirroring trades with high-profit potential. Its customer service is also reliable and responsive, making AvaTrade worth trying. 

OnlineTrading.Reviews Rating:
✔Fast account opening
✔Excellent research tools
4.6 rating
4.6
Risk Warning
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.
Pros
  • $100 minimum deposit requirement.
  • Excellent AvaTradeGO app to trade on the move.
  • Advanced MetaTrader platforms with quality research resources.
Cons
  • High inactivity fee that kicks in after three months.

2. eToro – Best Forex Broker for Beginners in Germany

Etoro
Etoro
Etoro
Etoro
Etoro
Etoro
Etoro
Etoro

Beginner forex traders in Germany should consider eToro to kickstart their forex trading ventures. Rest assured that it is a trusted global forex broker since highly respected authorities regulate its financial activities. 

eToro is beginner-friendly because it has an easy-to-use forex trading platform. In addition, it hosts the CopyTrader and social trading platforms, allowing you to socialise with fellow global forex traders and mirror the most experienced traders’ positions free of charge. 

Forex trading at eToro helps you build your trading skills as you explore the currency markets. The broker in Germany has adequate learning resources, including a risk-free demo account to help you practise forex trading before you try the real markets. 

Let your journey towards being a successful and independent forex trader start with eToro. With more than 40 currency pairs and low forex trading fees, you can trade on diverse global markets and earn good profits.

OnlineTrading.Reviews Rating:
✔Free stock and ETF trading
✔Easy account opening
3.9 rating
3.9
Risk Warning
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.

 

Pros
  • Social and copy trading experience.
  • Low forex trading fees.
  • User-friendly and customisable forex trading platform.
Cons
  • $200 minimum deposit requirement.

3. Plus500 – Best CFD Forex Broker in Germany

Plus500
Plus500
Plus500
Plus500
Plus500
Plus500
Plus500
Plus500

Germans looking for a reliable forex CFD broker in Germany should have Plus500 as their first choice. The broker has the Federal Financial Supervisory Authority (BaFin) overseeing its activities in Germany, making it a forex broker to trust with your trading funds. 

The best thing about trading forex CFDs with Plus500 is that there are over 60 currency pairs to trade with. What’s more interesting is that Plus500 trading fees are one of the lowest in the industry, allowing you to place multiple forex CFD trades daily. 

Opening a forex CFD account on Plus500 is free and straightforward. With a minimum deposit of $100, you will have access to the commission-free trading platform, whereby you will explore various global currency markets at low spreads. 

Additionally, this CFD forex broker in Germany has reliable 24/7 customer service that you can reach via phone, email, and live chat. 

OnlineTrading.Reviews Rating:
✔ Zero commission.
✔24/7 customer support service.
4.0 rating
4.0
Risk Warning
77% 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.
Pros
  • Excellent forex CFD trading learning resources.
  • 60+ currency pairs provided.
  • No deposit and withdrawal fee.
  • 24/7 reliable customer service.
Cons
  • Inactivity charges start accumulating after only three months.

4. CMC Markets – Forex Broker with the Low Minimum Deposit in Germany

CMC Markets
CMC Markets
CMC Markets
CMC Markets
CMC Markets
CMC Markets
CMC Markets
CMC Markets

Trading forex at CMC Markets allows you to experience this broker’s intuitive design platform that is user-friendly and customisable. The broker also adheres to the Federal Financial Supervisory Authority (BaFin) regulations, guaranteeing German forex traders’ safety.

You do not need a lot of money to start trading on CMC Markets since it does not have a minimum deposit requirement. This means that you can deposit any amount you can afford and is within your budget to trade forex at CMC Markets. In addition, forex trading fees are low, allowing you to benefit from this broker at a low budget.

What’s impressive about this forex broker in Germany is its offerings of over 300 currency pairs. The research and learning materials are also provided in plenty, making it easier for you to build your skills and analyse the currency markets accordingly.

OnlineTrading.Reviews Rating:
✔Low forex fees
✔Excellent research and educational tools
4.1 rating
4.1
Risk Warning
69% 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.
Pros
  • No minimum deposit requirement.
  • Low forex trading charges.
  • No transaction costs.
  • Plethora of top-quality learning and research materials.
Cons
  • Customer service is available five days a week.

5. Forex.com – Forex Broker with Most Currency Pairs in Germany

Forex.com
Forex.com
Forex.com
Forex.com
Forex.com
Forex.com
Forex.com
Forex.com

Whether you are getting started trading forex in Germany or looking for a forex broker with diverse forex offerings, Forex.com is an excellent option. Being regulated by the Federal Financial Supervisory Authority (BaFin) makes it trustworthy by German forex traders.

Forex.com has an excellent trading platform that is easily customisable with modern design. You only need to make a minimum deposit of $100 to start benefiting from this forex broker. Additionally, you will have access to over 4,500 popular world’s markets, including more than 90 currency pairs for forex trading.

Forex.com has one of the lowest forex trading fees starting from $0.11 on its Direct Market Access trading account. German forex traders looking for advanced trading tools can also benefit from this broker’s MT4 and MT5 platforms. Although it charges a $15 inactivity fee, expect it to kick in after 12 months of inactivity.

OnlineTrading.Reviews Rating:
✔ Low forex fees
✔ Great variety of currency pairs
3.6 rating
3.6
Risk Warning
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.
Pros
  • Low forex trading fees.
  • No transaction costs.
  • MetaTrader platforms available.
  • Excellent variety of currency pairs.
Cons
  • Customer support is available five days a week.

6. IG Markets – Safest Forex Broker in Germany

IG
IG
IG
IG
IG
IG
IG
IG

IG Markets‘ long track record has made it popular globally, including in Germany. Having a global presence means that the forex broker is overseen by various authorities across various jurisdiction areas, including Germany’s Federal Financial Supervisory Authority (BaFin). This guarantees your trading capital’s safety on IG markets.

We also consider IG Markets a safe broker to trade forex with because it has a segregated account for storing all its client’s trading funds. It also has access to diverse tier-one global markets, giving you great opportunities to earn good profits.

You will need a $250 deposit to start trading forex on the live account. The broker also supports German traders with a plethora of quality research materials to help with market analysis and creating a good forex trading strategy

The trading fees on IG Markets are high, and you must budget accordingly before committing to this forex broker. However, with excellent learning materials, reliable customer service, intuitive and user-friendly platform, we believe that IG Markets is worth considering.

OnlineTrading.Reviews Rating:
✔ Advanced research tools provided.
✔ Fast and responsive trading platform.
3.1 rating
3.1
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Pros
  • Top-notch research and learning resources.
  • 90+ currency pairs.
  • Reliable 24 hour customer service that you can reach via phone, email, and live chat.
  • Advanced trading platforms with DMA and automated trading features.
Cons
  • High forex trading charges.
  • $250 minimum deposit requirement.

How to Choose the Best Forex Broker in Germany

With Germany’s economy being highly developed in Europe, many forex brokers see opportunities of benefiting from the country. For this reason, you must be careful when choosing a forex broker in Germany since you want one that not only guarantees your funds’ safety but also has set reasonable trading standards. Take a look at what to consider when choosing a forex broker in Germany. 

The best forex broker in Germany should be licensed or regulated by the Federal Financial Supervisory Authority (BaFin). Unfortunately, this means that if you encounter a forex broker that is not regulated by the above authority, there is no guarantee of your fund’s safety. Therefore, you may want to consider other options.

A forex broker’s trading platform should be easily navigable to make you have an excellent forex trading experience. Also, check the type of trading tools hosted by a forex broker and decide if they will help your analysis and improve your trading skills. You can also confirm the availability of a demo account since you might need to test a forex broker before diving straight in.

It is essential to have a budget before choosing a forex broker in Germany so that you do not end up spending more than you can afford. Therefore, choose a forex broker with manageable trading costs or charges. You can also consider the minimum deposit requirement since they vary with every forex broker.

Many German forex traders usually forget to confirm this element even though it is an essential feature on a forex broker. Customer service is responsible for catering to your trading needs, and you should check their availability and the modes of communication to reach them with. Most of the forex broker’s customer services are reachable via phone, email, and live chat.

When you want to transact on a forex broker’s platform, there are various modes of payment that the forex broker allows. Therefore, check if the payment methods are flexible for your trades. You do not want to go through currency exchange hustles when making deposits and withdrawals, which can be costly and time-consuming.

FAQs

Is forex trading legal in Germany?

Yes. Forex trading in Germany is legal, and traders must find a broker regulated by the Federal Financial Supervisory Authority (BaFin) to secure their trading funds. We recommend the best forex brokers in Germany above.

Do forex traders pay tax in Germany?

Yes. Forex trading in Germany is considered a personal investment, and so you will pay taxes from the profits made trading forex.

Which countries have banned forex trading?

Various countries have banned forex trading as a way of protecting retail traders against financial losses. Examples of such countries include Vietnam, Turkey, China, India, the Philippines and Iran.

Do I need a broker for Forex trading?

Yes. Since the foreign exchange market is decentralised, you will require a forex broker to connect you to diverse forex global markets to trade.

Can you learn forex for free?

Yes. Many forex brokers in Germany, including the ones recommended above, provide a variety of learning resources. You can take advantage of them by signing up for the free demo account and learn forex trading before creating the live trading account.

How difficult is forex?

We can’t say forex is difficult, or else many forex traders won’t profit from it. However, forex trading is challenging and carries a high risk of losing money. Nevertheless, you can simplify forex trading by learning how it is conducted, analysing the currency markets thoroughly and identifying a suitable forex broker that will ease your overall ex[erience.

Is forex trading legal in Germany?
Do forex traders pay tax in Germany?
Which countries have banned forex trading?
Do I need a broker for Forex trading?
Can you learn forex for free?
How difficult is forex?

Verdict

Germany is one of the most financially developed countries globally, making it a target for most brokerage firms. Unfortunately, this also means many fraudulent forex brokers are waiting to scam naive German forex traders off their cash. 

Choosing regulated forex brokers in Germany is the safest way to trade forex. The good news is that there is no need for you to research the best forex brokers in Germany since we have recommended the best ones above.

Thadeus Geodfrey
Thadeus Geodfrey

is a copywriter with extensive experience in trading. Thadeus knows exactly his field and what he writes about. His goal is to make life easier for traders and provide them with important information about brokers. Now, he continues to be active in trading and researching brokers for you.

There is no need to doubt his experience because the guides Thadeus writes speak for themselves. He knows exactly what to draw your attention to and will tell you truthfully about each trading platform.

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