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The best brokers in Germany
BaFin regulates the German forex trading market. Our team of experts has selected our best BaFin-authorized online foreign exchange brokers to offer CFD and leveraged trading services to German foreign exchange traders. See our selection of the best brokers in Germany.
Below you will find our top 8 picks of the best brokers for foreign exchange trading in Germany.
Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
The best brokers in Germany
Below you will find the best brokers with BaFID regulation in Germany, sorted by categories:
- Interactive Brokers - The best platform for Forex trading
- XTB - Good for saving, with low STP spreads
- Admiral Markets - The best trading platform for MetaTrader 4
- Plus500 - The best for safe trading with risk management
- IG - Well suited for flexible trading with different markets
- eToro - Social Trading with the Best
- CMC Markets - Well suited for accounts with no minimum deposits
- HYCM - The best for MetaTrader 5
Interactive Brokers - The Best Forex Brokers
Interactive Brokers offers 3 key advantages:
1. Low trading fees
- Commission from USD 1 per lot and low spreads.
2. Advanced trading platforms
- State-of-the-art platform for desktop PCs and mobile devices.
3. Various instruments
- Interactive Brokers offers CFD andd real physical instruments.
4. Wide range of financing options
- Multiple payment options for depositing and withdrawing funds
Strength 1 - Interactive Brokers has the lowest commission fees
Interactive Brokers combines the price movements of the 14 largest forex traders in the world to create narrow spreads. Forex CFD spreads start at 1.0% for EURUSD and can drop to 0.5% with larger accounts. Exotic currency pairs and cross pairs generally have larger spreads because they are quite volatile. Interactive Brokers' spreads are variable and can therefore widen during major economic events.
Commissions on forex pairs start at a minimum of $ 2.00 USD per order with 0.20 lot size. The bigger your lots, the higher the value of your commission.
German traders can enjoy the benefits of low commissions by trading large orders.
When it comes to comparing commission costs with other brokers, we've found that Interactive Brokers has some of the most affordable brokers out there.
Compare the commissions of all brokers
Interactive Brokers charges an inactivity fee of $ 10 per month for accounts with less than $ 2,000 in balance and accounts that do not generate a minimum of $ 20 in commissions. Accounts with $ 2,000 or more will be charged a monthly inactivity fee of $ 10.
Strength 2 - Advanced trading platforms
Interactive Brokers offers various trading platform options. These are available for the desktop PC as well as for mobile applications:
The ‘Client Portal’ platform is characterized by the fact that it combines all the important trading tools you need in a single portal. The client portal enables this by being geared towards a harmonious design and high functionality, which display the button in a clear and orderly manner and thus offers the additional advantage that you can do without additional monitors. These features make the platform perfect for beginners.
The client portal accounts can be set up without further downloads. The most important features include:
- Fast trading with easy order placement, management of open orders and access to recent trades.
- Advanced charting with detailed price data and live news feed
- Tracking your orders with portfolio performance
Desktop TWS (Trader Workstation)
For a long time, the Interactive Brokers Desktop TWS platform was regarded as the premium platform for professional traders. Now it is also accessible to traders with different levels of knowledge. The platform impresses with the possibility of working with several trading instruments, since with Desktop TWS you can take full advantage of the wealth of offers that Interactive Brokers has to offer among its more than 1000 products. The most important functions include:
- TWS mosaicthat provides access to charts, trade orders, watch lists and a customizable workspace
- Paper trade, trading enables without risking losing your money. This is a great way to practice your trading skills
- Access to over 100 order types and algorithms
- Real-time monitoring toolsso that you can see in detail at all times how the success of your trading account is increasing
- Comprehensive financial analysis and live market news from sources such as Reuters, Dow Jones and Morningstar
IBKR WebTrader - IBKR PRO
IBKR Pro is Interactive Brokers' web-based trading platform. It is very similar to the desktop TWS, but has an even clearer button. The IBKR WebTrader is the best option if you want to trade on the go.
IBKR allows you to access your trading account from your mobile phone or tablet. With a focus on:
- Access to more than 135 markets worldwide, including innovative trading tools
- Fast pre-authorization of large orders to ensure security
- Account protection with Interactive Brokers Two-Factor Security Key keeps your account secure with a passcode
- Fast and direct deposit of funds into your account also via your mobile phone or tablet
lBot is the artificial intelligence powered interface that is available on all Interactive Brokers platforms and allows you to place orders, view prices and search for data and information using your own words and phrases:
- Text commands in natural language
- Get instant access to charts with simple words
Using natural language when placing orders helps you find what you're looking for quickly and easily and act the way you want. This feature makes the IBKR platforms ideal for beginners as it eliminates the use of specific and complex terms when performing actions.
IBKR APIs - IBKR PRO
Optimize your trading platform according to your wishes with:
- API technology that allows you to build your own trading applications.
Strength 3 - The choice of instruments available to trade
Interactive Brokers offers a wide variety of markets to trade. The top broker offers access to 135 markets in 33 different countries with 23 currency types. Interactive Brokers is unique in the online forex brokerage industry in that it offers the ability to trade both the underlying instrument and the CFD, allowing you to trade many exchanges that are rarely used by other online brokers Tobe offered.
- The forex and forex CFD-Trading is possible for 23 currencies worldwide with no hidden spreads and commissions. Interactive Brokers uses an ECN-like market structure to achieve tight spreads.
- Stock and CFD trading in over 135 markets from 33 countries on a single account. Special exchanges include Tel Aviv, Vienna, Germany, Australia, Hong Kong, India, Singapore and Japan.
- Index CFD - This enables you to gain insight into the broad market commissions from 0.005% to 0.01%.
- Options trading with commission rates between $ 0.15 and $ 0.70 per US options contract
- The futures / FOP trading is available in more than 35 marketplaces worldwide. The market centers include Eurex (DTB) in Germany, EUREX (Soffex) in Switzerland, Bosa Italiana in Italy and the Singapore Exchange.
- The metal trade offers trading instruments like gold and silver with low and transparent commissions
- Bond trading of over 38,000 bonds, 850.00 municipal bonds and 33.00 CDs
- Exchange traded funds (ETFs), which are available for trading bond and stock indices on 28 stock exchanges in 14 countries
- The Exchange for Physical (EFP) This is useful when you sell stocks and buy them back for future delivery by purchasing Single Stock Future (SSF), or when you buy the stock and sell SSF
Strength 4 - Deposit & Withdrawal
Interactive Brokers does not require a minimum deposit amount for your Forex accounts.
Among those supported by Internative Brokers Deposit methods belong:
- Bank Transfer
- Cashier's check
- Online bill payment check
- Automated Clearing House (ACH) transfers initiated by Interactive Brokers
- Direct rollover (only for IRA pension accounts)
- Trustee-to-Trustee (For IRA retiree accounts only)
No fees are charged for any payment method. Note that Interactive Brokers does not accept deposits with credit and debit cards such as Visa, Mastercard or PayPal.
The following Withdrawal Methods are supported:
- Bank Transfer
- SEPA direct debit (Eurozone Payment Area), which must be initiated by Interactive Brokers
- BACS (withdrawals only possible in GBP)
- GIRO / ACH (only possible in HKD, CNH, SGD)
- NZD ACH (withdrawals in NZD possible)
Interactive Brokers allows a free payout per calendar month, all other transactions are chargeable. A fee of 8 euros is charged for withdrawals by bank transfer.
Withdrawal limits apply for every day and a total of 5 working days. A secure login system enables unlimited withdrawals.
Withdrawals must be made to an account on your behalf and are usually made the same day if an application is made prior to closure.
Interactive Brokers Summary
Interactive Brokers is our best forex broker in Germany, suitable for traders who want to trade a wide variety of CFDs and even the underlying instruments with low spreads and some of the best commissions in the brokerage industry.
The brokers offer a large selection of trading platforms that are suitable for traders with different levels of knowledge and who want to use all types of trading platforms, but at the same time do not want to do without unique offers such as the IBot.
XTB - Save with low STP spreads
With more than 15 years of experience and numerous awards as a European broker, the main strengths of XTBs are:
1. Low spreads
2. Customer Support Satisfaction & Awards
3. Course content
Key Competencies- XTB includes low spreads and costs
XTB offers low and competitive spreads on most of the major pairs in online trading. The spreads for the standard currency trading account without commission start from 0.70 pips for EUR / USD pairs and the spreads for accounts with commission start from 0.30 pips for EUR / USD. Index CFDs start with spreads of 0.5 pips and a total of 42 indices are offered. Commodity CFD instruments start at 0.01 pips and a total of 22 commodities are offered. Cryptocurrency trading pairs have a spread of 0.5% of the market price and 25 cryptocurrencies such as Bitcoin, Ethereuem and many more are available for trading.
The lowest spreads are available with the XTB pro account. This type of account uses straight-through processing (STP) methodology to achieve low spreads with fast execution. With this account you pay € 3.50 per lot side trip or € 7 round-turn in Forex trading. There is also a fee of € 3.50 for cryptocurrencies, while the commission for share CFDs and ETD CFDs starts at 0.08% per lot.
Data taken from broker website. Accurate as at 07/05/2021
Compare all broker accounts with no commission
If you don't want to pay commission fees when trading, you can choose a standard account type. Compared to the Pro account, this account has larger spreads and therefore has a different cost structure.
Data taken from broker website. Accurate as at 07/05/2021
Compare all commission accounts
Below is information about each account. You will find that both accounts offer 1:30 leverage, lots trading from 0.1, and a choice of xStation and MT4 platforms. The only difference between the account types is that the Pro account has a commission cost structure while the Standard account does not.
Active Trader Discount
XTB offers an active trader discount program that gives you discounts on spreads between 5% and 30% when you trade certain volumes.
- To get a 5% spread discount, you need to trade at least 20 lots
- To receive a 10% spread discount, you must trade at least 50 lots within 30 days
- To get a 20% spread discount, you need to trade at least 300 lots
- To get a 30% spread discount you need to trade at least 1000 lots
Strength 2 - XTB is an award-winning broker
XTB has received numerous awards and successes, which reflects the high level of services offered. Some of the awards they hold include:
- 2019 FinTech Business Awards - Finalist - Investment Innovator of the Year Investment innovator of the year
- 2019 FinTech Business Awards - Finalist - Personal Finance Innovator of the Year Finalist - Personal Finance Innovator of the Year
- CSS Design Awards - SPECIAL KUDOS
- Creative International Awards - SILVER
- Website of the day - Website Design Awards
XTB offers very good customer support and services
XTB operates at 11 locations with offices in Europe and Asia and offers the following services:
- Live chat - available 24 hours a day, 5 days a week
- Email Support - 1 day response time, available 7 days a week
- Telephone number - Available 24 hours a day, 5 days a week.
Strength 3 - XTB is the leader in forex educational content
XTB offers educational content from simple to advanced lessons with free courses, articles, and webinars. The educational courses consist of 4 levels of experience with the basic package, which explains elementary lessons about Forex, and the intermediate package for advanced learners, which consists of lessons in technical and fundamental analysis. Expert mode teaches you advanced trading techniques, and the premium package consists of premium materials including advice from the best traders.
XTB offers low and competitive spreads and is one of the best German forex brokers offering low fees in the forex market.
A minimum deposit of $ 250 is required to start trading, while free training content is provided for new traders to help them improve their trading skills.
XTB owns the regulation of the BaFin in Germany, in addition to the regulation by the Financial Conduct Authority (FRN 522157)
View XTB overview >> Visit XTB >>
Admiral Markets - trade on the MetaTrader 4 & 5 platform
Admiral Markets offers you a comprehensive experience with the most important advantages:
1. MetaTrader 4 for Forex and CFD trading
2. MetaTrader 4 Supreme Edition
3. Flexible trading accounts
Advantage 1: MetaTrader 4 for Forex and CFD trading
The MetaTrader 4 (MT4) trading platform developed by MetaQuotes Software covers the needs of millions of traders around the world. Admiral Markets customers can download MetaTrader 4 in four different versions from the download center of the trading platform:
- Download MT4 for Desktop PC
- Download MT4 for Mac
- Download MT4 for iOS
- Download MT4 for Android
The main difference between the standard MetaTrader 4 platform and the MT4 Supreme Edition is that the Supreme Edition comes with over 60 additional plug-ins and an extended indicator package. Admiral Markets operates the MetaTrader 4 platform with the latest technology that ensures:
- Lightning fast order speeds (90% of orders are executed in less than 150 ms)
- Execution of STP orders
- Included Course book and order book
The ADVFN International Financial Awards for the best forex platforms in 2019 recognizes Admiral Market's efforts to provide excellent technical service to forex traders.
The Admiral Markets MT4 platform allows you to trade in over 4,000 global markets:
- Forex currency pairs (50 CFDs on FX pairs) with spreads from 0.0 pips and leverage up to 1:30
- Cryptocurrency CFDs (32 cryptocurrency pairs) with leverage of 1: 2 and trading over the weekend
- Index CFDs (43 global indices) with leverage of up to 1:20
- Stock CFDs (3509 shares) with leverage 1: 2
- Bonds CFDs (2 Treasury Bonds) with leverage 1: 5
- ETFs CFDs (397 ETF contracts) with leverage 1: 5
- raw materials (27) with leverage 1:20
Benefit 2: MetaTrader 4 & MetaTrader 5 Supreme Edition
MetaTrader 4 and the Supreme Edition enhance your trading experience with the most advanced tools to enhance your trading experience. The platform is designed to give you the opportunity to use your trading skills to the full. It provides daily business news and allows you to analyze your trading results in real time. A package with the latest indicators gives you more chart information. The mini-chart function shows you small charts in different time frames to better analyze your trading experience. Some of the most important features and tools are:
- Global Opinion Widget Global opinion widget
- Mini Terminal
- Trade Terminal
- Real time news
- 10+ indicators
Advantage 3: Admiral Market offers flexible trading accounts
Admiral Markets allows you to choose from 4 types of trading accounts giving you the flexibility to choose a trading system that suits your preferences.
Two of these accounts are intended for traders who prefer the MetaTrader 4 trading platform. These are the accounts Trading MT4 ’and Zero MT4’. The other two accounts are for traders who prefer MetaTrader 5. These accounts are the accounts ‘Trade MT5’ and Zero MT5 ’.
The “Trading MT4” and “Trading MT5” accounts are commission-free accounts with spreads that are at least 0.5 pips for major currency pairs and closer to 1.0 for smaller and exotic currency pairs compared to the “zero” accounts (often 1.5 pips or more) pips. However, they have the advantage that you can choose from a larger selection of CFDs compared to the “zero” accounts. These include bonds, stocks, index futures, cryptocurrencies, and spot farming. ETF CFDs are only available with 'Trade MT5' accounts.
Traders with the ‘Zero’ account have narrower spreads and the following commission fees, with a commission of 1.80 USD to 3.0 USD being paid depending on the traded volume.
The most important aspect of the Admiral Markets trading account is the flexibility allowed when trading forex. You can deposit from a wide variety of currencies, which are then converted into the appropriate currency. Admiral Markets even allows you to protect yourself from currency fluctuations by keeping multiple accounts at once, and makes it easy to transfer funds between internal accounts through their platforms.
Since Admiral Markets is regulated by the Financial Conduct Authority (FCA), FRN: 595450 and the Cyprus Securities and Exchange Commission (CySEC) license number 201/13, you can choose which regulator to enroll with when you join Admiral Markets .
If you want to trade on the MetaTrader platform and want a choice of trading accounts and base currencies, Admiral Markets is a very solid option. You can start trading on the MetaTrader 4 and MetaTrader 4 Supreme Editions with a minimum deposit of USD $ 200.
Plus500 - safer trading with risk management
1. User-friendly and easy-to-use platforms
2. Excellent risk management
3. Unique CFD option
Strength 1 User-friendly platform
Plus500 offers its custom CFD platforms for desktop and mobile devices to bring you a complete trading experience. The platform is designed so that you can easily navigate between trading instruments and clients can quickly deposit funds through the desktop application.
MetaTrader 4 cannot be integrated with the Plus500 application and algorithmic trading is not supported. The mobile trading app offers full functionality for monitoring the markets. With the switch from live to demo account, traders can quickly practice trading. The mobile application can be accessed from iOS devices and Android devices and supports Windows Phone apps.
Strength 2 - Plus 500 Excellent risk management
Plus500 offers excellent risk management tools to help traders manage the high risk of Forex and CFD trading. Key risk tools for protecting your investments include Guaranteed Stop Loss Orders (GSLOs) and Guaranteed Negative Balance Protection.
If you opt for a guaranteed stop loss for a small fee included in the spread, the security of your investments is guaranteed. Unlike other platforms, the Plus500 platform runs the stop loss rate at the price you set, with no slippage. Guaranteed stop-loss orders are not available for all instruments.
Like all brokers overseen by a European regulator, Plus500 offers guaranteed negative balance protection for retail investors. Negative balance protection means your trading account balance will never drop below $ 0. This feature is included so you don't have to opt-in or opt-out when trading.
Note: A professional account is also available. Provided you meet two of the following requirements, you can trade at higher leverage as a retailer, but you will automatically lose the guaranteed negative balance protection.
- You have made at least 10 significant transactions per quarter for the past year
- Your portfolio exceeds EUR 500,000
- You have been in the financial industry for at least a year
Strength 3- Unique CFD options
Plus500 offers over 2,000 CFD trading instruments, including several unique options only offered by a handful of online brokers.
Like most CFD providers, Plus500 offers cryptocurrencies, indices, forex and commodities, however some unusual options can also be found when trading soft commodities, such as: B. Pigs. The available CFDs include:
- 60+ Forex CFDs with up to 30: 1 leverage on major currency pairs
- Trade the world's largest CFD stocks on the NYSE, NASDAQ and the London Stock Exchange with leverage of 1: 5
- Cryptocurrency CFDs including XRP, IOTA, Stellar, EOS, Bitcoin Cash ABC, Cardano, Tron, Monero are available with a leverage of up to 1: 2
- 24 raw materials including pigs, live cattle and feed cattle. Leverage starts at 1:20
In addition to the usual financial instruments and CFDs, Plus500 offers some unique options including
- Crypto 10 CFD: A cryptocurrency index that consists of 10 different cryptos.
- Sector indices CFD: cannabis stocks, batteries and lithium, UK Brexit and real estate giants
- National exchange CFDs such as Germany, Japan, France, Australia, Belgium and Sweden
- 400+ options with leverage of 1: 5
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