For sure, Europe’s getting into forex trading. Lots of countries there are making rules for this new kind of investing. Germany’s doing it too, with some brokers running legally and giving traders a safe place to trade. Need a good broker to trade forex? Here are some top ones in Germany that are simple to with access anywhere.
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Trading leveraged product is risky
74-89% of retails CFD accounts lose money
The vast majority of retail client accounts lose money
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Forex Broker | Trustpilot Reviews | |
9043 | ||
3904 | ||
290 | ||
12956 | ||
28,170 | ||
16,594 | ||
7. XTB | 2,065 | |
8. Saxo Bank | 7,367 | |
9. Swissquote | 3,324 | |
870 | ||
Forex Broker | EURUSD | USDJPY | EURGBP | GBPUSD |
1.2 | 1.4 | 1.4 | 1.5 | |
1.01 avg (Classic) | 1.17 avg (Classic) | 1.29 avg (Classic) | 1.14 avg (Classic) | |
0.96 avg (Standard) | 1.47 avg (Standard) | 1.19 avg (Standard) | 1.12 avg (Standard) | |
4. Capital.com | 0.6 | 1.0 | 2.0 | 1.3 |
1.2 | 0.9 | 1 | 1.3 | |
6. Saxo Bank | 1.2 | 2 | 3.1 | 1.6 |
7. XTB | 0.9 | 1.4 | 2.1 | 1.4 |
1 | 1.0 | 1.5 | 2.0 | |
1.4 | 2.2 | 1.5 | 1.9 | |
1.7 | 1.6 | 1.7 | 2.0 |
Forex Broker | Commission per lot |
$0 Standard Account; $18 Live Zero Fixed Spread; $10 STP/ECN Zero Spread; $6 STP/ECN Zero Spread Professional | |
2. Saxo Bank | $3 per lot |
$0 | |
$1 or $2 (stocks only) | |
5. Capital.com | $0 |
6. XTB | $0 for Standard accounts, $3.50 per side for Pro accounts |
$0 Classic Account, $4.50 round turn on Zero Account | |
$0 Standard Account; $6 round turn on Pro Account | |
$0 Standard Accounts; $7 round turn on Raw Accounts | |
10. Swissquote | $/€0 on Standard, Premium and Prime Accounts $/€2.5 per side per lot for Elite Accounts |
Important Note: Heads up! If forex brokers wanna offer trading to German traders, they gotta get the thumbs-up from the local guys. The big boss in Germany for this stuff is BaFin (Federal Financial Supervisory Authority). Wanna know more about them and what rules forex brokers have to play by to keep trading safe and fair for everyone? Check out BaFin’s website or hit them up on X, Instagram, or LinkedIn.
Fusion Markets Broker Details | |
Supports German | No |
Germany Currency (EUR) | Yes |
Regulators | ASIC, FSA (Seychelles), VFSC (Vanuatu) |
Min Deposit | $0 |
Trading Platforms | MetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade, TradingView |
Trustpilot Rating | 4.7 out of 3,162 reviews |
Number of CFD Forex Pairs to Trade | 80+ |
Leverage | Forex & Metals CFDs: 1:30 (1:500 for forex and metals via VFSC) Index CFDs: 1:5 Cryptocurrencie CFDs: 1:2 (ASIC), 1:10 (FSA, VFSC) |
Spread | EURUSD: 1.01 avg (Classic) USDJPY: 1.17 avg (Classic) EURGBP: 1.29 avg (Classic) GBPUSD: 1.14 avg (Classic) |
Forex Commission per Lot per Trade | $0 Classic Account, $4.50 round turn on Zero Account |
Deposit Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VNPay, DuitNow, XPay, DragonPay, VAPay, FasaPay, AstroPay, PayID, Jetonbank, Sticpay, Interac, LuqaPay, Zotapay, MiFinity |
Withdrawal Methods | Visa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay |
Fusion Markets kicked off in 2017, founded by some Aussie traders who seriously knew their business. It’s now super popular with traders all over. Lots of brokers brag about low spreads, but Fusion Markets has the awards to back it up—BrokerChooser gave them the Lowest Spread Forex Broker award four years running. What’s cool about them is they’re cheap to use. Commissions are just $2.25 a lot (or $4.50 for a full trade), so if you’re watching your costs, this is a win. They’re also serious about following the rules. Fusion Markets has licenses from a few important regulators, like ASIC in Australia (Licence No. 385620), the Seychelles FSA, and Vanuatu. If you trade with ASIC, you get negative balance protection, so you can’t lose more than what’s in your account. You don’t need any money to start, and they work with platforms like MetaTrader 4, MetaTrader 5, and cTrader. Plus, they’ve got a 4.7/5 rating on Trustpilot, with over 1,300 awesome reviews. You could say they’ve got a great name in the business.
Global Prime Broker Details | |
Supports German | No |
Germany Currency (EUR) | Yes |
Regulators | ASIC (No. 385620), VFSC (No. 40256) |
Min Deposit | $0 |
Trading Platforms | MT4, MT4 Webtrader, MT4 Android; for VFSC clients MT4, MT5, and GP Copy |
Trustpilot Rating | 4.6 out of 247 reviews |
Number of CFD Forex Pairs to Trade | 56 |
Leverage | Forex & Metals CFDs: 1:500 (1:30 for ASIC entity) Index CFDs: 1:100 (1:20 for ASIC entity) Cryptocurrencie CFDs: Up to 1:2 (ASIC); Up to 1:5 (Pro and VFSC) |
Spread | EURUSD: 0.96 avg (Standard) USDJPY: 1.47 avg (Standard) EURGBP: 1.19 avg (Standard) GBPUSD: 1.12 avg (Standard) |
Forex Commission per Lot per Trade | $0 Standard Accounts; $7 round turn on Raw Accounts |
Deposit Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Gate8, Dragonpay, Fasapay, VNPay, Pagsmile, BPay, POLi, AstroPay, Bank Transfer, Interac, Perfect Money, PayID, Jeton, MiFinity, XPay, Crypto |
Withdrawal Methods | Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies |
Global Prime has been around since 2010, providing cheap and trustworthy trading. Financial regulators in Australia and Vanuatu keep an eye on them, which is reassuring for traders. They let you trade over 150 different things, like forex, indices, commodities, bonds, cryptocurrencies, and more than 50 currency pairs. If you go with their raw spread account, major forex pairs can start at 0.0 pips, and most trades happen super fast, in about 10 milliseconds. If you’re trading with their Australian branch (ASIC regulated), you’ll be on MetaTrader 4. But if you’re under VFSC regulation, you also get MetaTrader 5. They’re planning to support TradingView soon, which is a good thing. What makes Global Prime different is how easy it is to sign up, plus they don’t charge fees for deposits or withdrawals, and their support is available all day, every day. People seem to like them, giving them a 4.4 out of 5 on Trustpilot. Still, they could be better. Right now, they don’t have cent accounts or swap-free (Islamic) accounts, which might be a problem for some. Also, there’s no plan to protect client funds if something goes wrong, so that’s another area they could work on.
Axi Broker Details | |
Supports German | No |
Germany Currency (EUR) | Yes |
Regulators | ASIC, FCA, CySEC, DFSA, FSA (Saint Vincent and the Grenadines), FMA |
Min Deposit | $0; $5 (EU and UK) |
Trading Platforms | MetaTrader4, MT4 WebTrader, Axi Mobile |
Trustpilot Rating | 4.5 out of 3,793 reviews |
Number of CFD Forex Pairs to Trade | 80 |
Leverage | Forex & Metals CFDs: 1:30 Index CFDs: 1:20 Cryptocurrencie CFDs: 1:2 |
Spread | EURUSD: 1.2 USDJPY: 1.3 EURGBP: 1.1 GBPUSD: 1.3 |
Forex Commission per Lot per Trade | $0 on Standard Account; $7 round trip on Pro Account |
Deposit Methods | Visa, Mastercard, Bank Transfer, Neteller, Skrill, AstroPay, Fasapay, Przelewy24, Boleto, Pix, Bitcoin, Ethereum, Ripple, Litecoin, Tether, Stellar, POLi, iDEAL, Sofort, Giropay |
Withdrawal Methods | Mastercard, Visa, Bank Transfer, Przelewy24, Fasapay, Skrill, AstroPay, Pix, Boleto, Neteller, Bitcoin, Ripple, Ethereum, Litecoin, Tether, Stellar |
Since 2007, Axi has helped 60,000 traders from over 100 countries by offering cheap trading on 290+ instruments in five asset classes. They’re licensed by ASIC (Australia), FMA (New Zealand), and FCA (UK). In Europe, they’re good to go because of a CySEC license. Plus, they’ve got licenses from DFSA (Dubai) and FSA (St. Vincent & the Grenadines), so they’re pretty global. Traders worldwide seem to like them, and there haven’t been any scandals. This broker, based in Sydney, gives customers access to 70+ currency pairs and doesn’t charge commissions on standard accounts for currency trades. Pro and Elite accounts have commissions, but they’re about average for the industry. You can also trade hard and soft commodities, stock indices, cryptos, and stocks at good prices on the MT4 platform. How much you can borrow varies depending on where you live, but some customers can get up to 1:500 leverage. They offer several base currencies for accounts to help traders save on conversion fees. Axi also supports its international customers with a lot of payment options. Just keep in mind that some, like Fasapay and Boleto, are only for certain regions.
BlackBull Markets Broker Details | |
Regulators | FSA (Seychelles) (No. SD045), FMA (No. FSP403326) |
Min Deposit | $0 (Standard) $2,000 (Prime) $20,000 (Institutional) |
Trading Platforms | MetaTrader4, MetaTrader5, TradingView, cTrader, MT WebTrader, BlackBull Shares, BlackBull CopyTrader, BlackBull Trade, BlackBull Invest, ZuluTrade |
Trustpilot Rating | 4.8 out of 1,876 reviews |
Number of CFD Forex Pairs to Trade | 70+ |
Leverage | Forex & Metals CFDs: 1:500 Index CFDs: 1:500 Cryptocurrencie CFDs: 1:500 |
Spread | EURUSD: 0.9 USDJPY: 1.2 EURGBP: 1.7 GBPUSD: 1.2 |
Forex Commission per Lot per Trade | $0 Standard; $6 per lot Prime; $4 per lot Institutional |
Deposit Methods | Visa, Mastercard, Neteller, Airtm, Skrill, Bank Transfer, HexoPay, American Express, POLi, Payment Asia, Help2Pay, FXPay, Fasapay, China Union Pay, Boleto, AstroPay, Beeteller, Bitcoin, Ethereum, Tether, Ripple, Litecoin, Bitcoin Cash, Chainlink, USD Coin, Stellar |
Withdrawal Methods | Visa, Mastercard, Bank Transfer, Airtm, Skrill, Neteller, American Express, POLi, HexoPay, Payment Asia, Help2Pay, FXPay, China Union Pay, Boleto, Fasapay, Beeteller, AstroPay, Bitcoin, Litecoin, Bitcoin Cash, Tether, Ripple, Stellar, Chainlink, Ethereum, USD Coin |
BlackBull Markets started back in 2014 and is a big player because they have tons of stuff to trade—around 26,000 different things! If you’re into forex, they’ve got you covered with over 70 currency pairs, from the majors to the more unusual ones. You can trade these using one of their three ECN account types: Standard, Prime, and Institutional. Plus, you can trade other things like commodities, stocks, indices, and futures there, too. This brokerage has licenses from the FSA (Seychelles) and the FMA. Their trading terms are not too bad, but what you pay depends on the account you choose. If you don’t want to pay any commission, go for the ECN Standard account. Spreads usually start around 0.8 pips, and there’s no minimum to deposit. Now, the ECN Prime and ECN Institutional accounts are better if you know your stuff and trade big volumes. Just a heads up, they charge higher commissions per lot on these accounts. If you’ve got a live account, you can add funds using cards, digital wallets, online banking, bank transfers, or even cryptocurrencies. Putting money in is free, but this brokerage is based in New Zealand and they charge a $5 fee for every withdrawal, no matter how you do it.
Swissquote Broker Details | |
Supports German | Yes |
Germany Currency (EUR) | Yes |
Regulators | FCA (562170), DFSA (F001438), SFC (AZV127), MFSA (C 57936), CySEC (422/22), MAS (226182), CSSF, FSCA |
Min Deposit | Standard Account: $1,000; Premium Account: $10,000; Prime Account: $50,000 |
Trading Platforms | CFXD, MetaTrader 4, MetaTrader5 |
Trustpilot Rating | 3.4 out of 3026 reviews |
Number of CFD Forex Pairs to Trade | 80+ |
Leverage | Forex & Metals CFDs: 1:30 (Europe), 1:100 (International), 1:50 (Middle East), 1:20 (Singapore) Index CFDs: 1:20 Cryptocurrencie CFDs: 1:2 |
Spread | EURUSD: 1.7 USDJPY: 1.6 EURGBP: 1.7 GBPUSD: 2.0 |
Forex Commission per Lot per Trade | $/€0 on Standard, Premium and Prime Accounts; $/€2.5 per side per lot for Elite Accounts |
Deposit Methods | Visa, Mastercard, Bank Transfer, Online Banking |
Withdrawal Methods | Visa, Mastercard, Bank Transfer, Online Banking |
Saxo Bank Broker Details | |
Supports German | No |
Germany Currency (EUR) | Yes |
Regulators | FCA (No. 551422), FSA Denmark (No. 1149), MAS (No. 200601141M), ASIC (No. 32110128286), SFC Hong Kong (No. 1395901), FSA Japan (No. 0104-01-082810), Registered with CONSOB (no. 296) |
Min Deposit | $0 Classic $200,000 + Platinum $1,000,000 + VIP |
Trading Platforms | Proprietary, SaxoTraderGO, SaxoTraderPRO, TradingView, SaxoInvestor |
Trustpilot Rating | 3.7 out of 7,235 reviews |
Number of CFD Forex Pairs to Trade | 185+ |
Leverage | Forex & Metals CFDs: 1:30 Index CFDs: 1:20 Cryptocurrencie CFDs: 1:2 |
Spread | EURUSD: 1.2 USDJPY: 2 EURGBP: 3.1 GBPUSD: 1.6 |
Forex Commission per Lot per Trade | $3 per lot |
Deposit Methods | Visa, Visa Electron, Mastercard, Maestro, Bank Transfer, Quick Payment |
Withdrawal Methods | Bank Transfer |
Plus500 Broker Details | |
Supports German | Yes |
Germany Currency (EUR) | Yes |
Regulators | FSA (No.4.1-1/18), FCA (No. FRN 509909), CySEC (No.250/14), FMA (No.47546), SFSA (No. SD039), MAS (No. CMS100648), DFSA (No. F005651), ASIC (No. 417727), BaFin registration, SCB (SIA-F250) |
Min Deposit | $100 |
Trading Platforms | Proprietary, desktop and mobile platforms |
Trustpilot Rating | 4.1 out of 15,556 reviews |
Number of CFD Forex Pairs to Trade | 60+ |
Leverage | Forex & Metals CFDs: 1:30 Index CFDs: 1:20 Cryptocurrencie CFDs: 1:2 |
Spread | EURUSD: 1.4 USDJPY: 2.2 EURGBP: 1.5 GBPUSD: 1.9 |
Forex Commission per Lot per Trade | $0 |
Deposit Methods | Debit Visa/Mastercard, Wire transfer, Apple Pay, Google Pay |
Withdrawal Methods | Debit Visa/Mastercard, Wire transfer, Apple Pay, Google Pay |
Plus500 is a well-known trading platform, used by over 25 million people in around 50 countries. They’re watched over by strict financial groups like the FCA, ASIC, and CySEC, so they’re reliable. What’s more, their main company is on the London Stock Exchange, which makes them even more trustworthy. They mainly do CFD trading, with a lot of choices—over 2,800, Like forex, stocks, indices, commodities, crypto, options, and ETFs. The site is clear and simple to use, so trading is easy. Spreads are tight, and forex trades don’t have extra fees. You can add money using cards, transfers, or e-wallets, and you need a minimum of $100 to begin. Putting in and taking out money is free, but if you don’t use your account for three months, they’ll charge a bit.
eToro Broker Details | |
Supports German | Yes |
Germany Currency (EUR) | Yes |
Regulators | FCA, CySEC, ASIC, MFSA, FSRA, FSA, FINRA/FinCEN, AMF, SEC, GFSC |
Min Deposit | $50 or $100 based on country ($10 for the UK, $1 in the US) |
Trading Platforms | eToro Investing, eToro App, TradingView, eToro CopyTrader, Proprietary |
Trustpilot Rating | 4.2 out of 27,550 reviews |
Number of CFD Forex Pairs to Trade | 55 |
Leverage | Forex & Metals CFDs: 1:30 (1:400 advanced leverage at Seychelles entity) Index CFDs: 1:20 (1:100 advanced leverage at Seychelles entity) Cryptocurrencie CFDs: 1:2 (UK, CySEC, ASIC), 1:5 (Seychelles) |
Spread | EURUSD: 1.0 USDJPY: 1.0 EURGBP: 1.5 GBPUSD: 2.0 |
Forex Commission per Lot per Trade | $1 or $2 (stocks only) |
Deposit Methods | eToro Money, Visa, Mastercard, Neteller, PayPal, Skrill, iDeal, Klarna, Bank Transfer, Trustly, Przelewy24 |
Withdrawal Methods | PayPal, Skrill, Visa, Mastercard, Neteller, Trustly, Bank Transfer |
eToro got its start in 2007 and now has more than 30 million users worldwide. They’re watched over by big financial groups like CySEC, ASIC, and FCA. You can trade a bunch of different stuff there: about 55 currencies, 40+ commodities, 20+ stock indexes, and a ton of stocks. You can even trade crypto, ETFs, and NFTs. If you’re into forex, you’ll like that the difference between buy and sell prices can be very small, like only a pip on pairs such as EUR/USD. different from other places, eToro doesn’t charge extra fees on currency trades; it’s already in the price. Their platform is simple to use, good for beginners or experts. Plus, eToro is known for its social and copy trading thing, which is better than what other brokers have.
FP Markets Broker Details | |
Supports German | Yes |
Germany Currency (EUR) | Yes |
Regulators | ASIC, CySEC, FSA (Seychelles), FSCA, FSA (St. Vincent and the Grenadines), SCB (Bahamas) |
Min Deposit | $50 (AU$100) |
Trading Platforms | MetaTrader4, MetaTrader5, WebTrader, IRESS, cTrader, TradingView |
Trustpilot Rating | 4.9 out of 8,641 reviews |
Number of CFD Forex Pairs to Trade | 70+ |
Leverage | Forex & Metals CFDs: 1:30 Index CFDs: 1:20 Cryptocurrencie CFDs: Up to 1:2 (Retail); Up to 1:5 (Pro) |
Spread | EURUSD: 1.2 USDJPY: 1.4 EURGBP: 1.4 GBPUSD: 1.5 |
Forex Commission per Lot per Trade | $0 Standard Account; $6 round turn on Pro Account |
Deposit Methods | Visa, Mastercard, Neteller, Bank Transfer, Skill, Sticpay, Fasapay, Virtual Pay, Perfect Money, Pagsmile, Dragonpay, Crypto, Apple Pay, Google Pay, Online Banking, Broker to Broker, PayPal, XPay, Rapyd |
Withdrawal Methods | Visa, Mastercard, Bank Wire, Neteller, Skrill, Paytrust88, PayPal |
FP Markets started online trading in 2005, so they have some know-how. They aim to give customers good trading conditions. Traders can play with many currency pairs and CFDs. What’s cool is their low spreads, the trading platforms people use, and helpful stuff for newbies. FP Markets uses MetaTrader 4 and 5, IRESS, TradingView, and WebTrader, so there’s something for everyone. They have a mobile app for Android and iOS, making trading easy on the go. People like FP Markets because of their tight spreads. Reviewers on Trustpilot gave them a high score of 4.9 out of 5. FP Markets members can get leverage up to 1:30 on some products, like major currency pairs. To keep traders safe, they follow rules from regulators in Australia (License No. 286354) and Cyprus (License No. 371/18).
XTB Broker Details | |
Supports German | Yes |
Germany Currency (EUR) | Yes |
Regulators | FCA (License No. FRN 522157), CySEC (License No.169/12), FSC (FSC License No.: 000302/438), IFSC (License No.: 000302/46.), KNF (N/A), CNMV (N/A), BaFin (registered), FSCA (N/A), FSA Norway (registration ID - FT00118162), DFSA (License No. F006316), CMF (Chile) |
Min Deposit | $0 |
Trading Platforms | xStation 5, xStation Mobile |
Trustpilot Rating | 4.0 out of 1,949 reviews |
Number of CFD Forex Pairs to Trade | 70+ |
Leverage | Forex & Metals CFDs: 1:30; 1:20 Index CFDs: 1:20; 1:10 Cryptocurrencie CFDs: 1:2 |
Spread | EURUSD: 0.9 USDJPY: 1.4 EURGBP: 2.1 GBPUSD: 1.4 |
Forex Commission per Lot per Trade | $0 for Standard accounts, $3.50 per side for Pro accounts |
Deposit Methods | Visa, Maestro, Mastercard, Bank Transfer, Neteller, Skrill, PayPal, Ecommpay, PayU, SafetyPay, Paysafecard |
Withdrawal Methods | Bank Transfers, Visa, Mastercard, Skrill |
Germany, like a lot of other countries in Europe, lets people trade forex online. Lots of brokers run legally there. Of course, if they want to offer these services, these sites need a license from the right people in Germany. As I said before, the Federal Financial Supervisory Authority (BaFin) takes care of things when it comes to forex trading. It’s always a good idea to check out a broker real good before you start trading. See if they’re licensed and regulated by BaFin, and make sure their license is real and they’re a legit broker. Besides BaFin’s rules, brokers in Germany also have to follow what’s in the European Economic Area’s Markets in Financial Instruments Directive (MiFID II). Or, if they want, German traders can pick a forex broker that’s watched over by another financial group in the EEA. That means they can get the okay to legally let Germans trade forex if they have licenses from places such as the Financial Conduct Authority (FCA) or the Cyprus Securities and Exchanges Commission (CySEC). Keeping investors safe is a big deal for the German financial people. They make sure forex brokers stick to strict rules and do what’s best to make sure German traders have a safe time trading.
If you’re a trader in Germany, I suggest you go with a broker that’s watched over by BaFin. They’re the main financial watchdog for forex trading in Germany. If brokers want a license from BaFin, they have to meet requirements. It means you’re trading on a safe platform, and your money is protected. To get a forex trading license, brokers need to follow the rules set by the German Capital Investment Code. To get a license, forex brokers must have at least €50,000 in capital. When they apply, this money cannot come from a loan. They also need to provide documents to the regulator. BaFin also makes sure brokers follow the rules, and can take action against them if they break security or guidelines. If you offer financial services without a license, you could get in trouble with the law. According to the Federal Supreme Court, art. 32 of the German Banking Act (KWG), if you have been scammed by a broker without a license, you can sue them. Operators offering financial services without permission cannot get a license from BaFin. If a company breaks any injunctions, they might have to pay a fine of up to €250,000 and may not be allowed to work in Germany anymore.
Even though Germany keeps an eye on its forex market, it’s still a good idea to double-check any broker that says they’re allowed to do business there. If you want to trade safely and fairly, you should check out the broker’s license. Like I said, BaFin is who gives the thumbs up for forex trading in Germany. If a broker is licensed to work in Germany, they have to be upfront with their clients. They need to clearly provide facts about their permission. If you see the company’s license or registration number, you can confirm if it’s the real deal by checking BaFin’s list. You can find this info on BaFin’s site in both German and English. German traders can search for brokers by name, registration number, or BaFin ID. Or, you can just scroll through the list of approved brokers in alphabetical order. You can also get in touch with BaFin’s support team and ask about a broker before you make an account and begin trading. German traders can call BaFin at 0800 2 100 500 (toll-free in Germany) or +49 228 299 70 299 from other countries. They’re available weekdays from 8 AM to 6 PM. You can also shoot them an email at if@bafin.de. If you suspect a broker is trying to get German customers without the right permission, you can also check BaFin’s list of warnings about shady companies. Keep in mind, a forex broker in Germany may have a license from another European Economic Area country and still follow the MiFID II rules. Each regulator keeps its own list of licensed companies. For instance, you can find info on brokers licensed by CySEC on their site.
German forex brokers have to protect client funds, so you can be sure your funds are safe with regulated firms. Expect to do KYC (Know Your Customer) when you sign up or want to withdraw cash. This usually means proving who you are with an ID, a selfie, or a document that shows where you live. Also, German brokers must protect you from losing more money than you put in. Since 2017, they have to ensure that your losses don’t go over your deposit amount. If you’re in Germany, you can also use brokers from other EU countries that follow MiFID 2 rules. This keeps your money safe so you can trade forex without worry.
If a broker wants to get a license from BaFin, they have to protect you from going into a negative balance. Since 2018, any company licensed in Europe also has to offer this because of MiFID rules.
Basically, if a broker is allowed to work in Germany or other European countries, they’ll keep you from losing more money than you put in your account. You won’t end up owing them cash or trading with money you don’t have.
If you’re a forex trader in Germany, you’ll need to pay taxes on your profits. It’s considered income from investments, so it’s taxable. The amount you pay depends on how much you earn overall. In Germany, the investment tax is 25%, plus a 5.5% solidarity tax. All together, that’s 26.375% on investments. Keep in mind that you might be able to get an investor’s allowance, which can lower your forex taxes. If your broker is in Germany, they’ll probably take out the tax automatically. If not, you’ll have to fill out tax forms yourself.
Starting in 2025, there’s an investor’s allowance that lets you earn up to €1,000 per year tax-free. If you make less than that from forex, you don’t need to pay this tax. Just a heads-up: tax laws can change. If you’re planning to trade forex in Germany, talk to a local tax expert to get the latest info about what you owe.
If you’re trading Forex with German brokers, remember Germany’s in the EU. This means brokers under BaFIN have to follow the European Securities and Markets Authority (ESMA) rules. ESMA capped the maximum leverage at 1:30 for main currency pairs back in 2018. For other pairs, it’s 1:20. So, the leverage limits in Germany are the same as anywhere else in the EU. Big regulators like ASIC and the FCA have similar caps.
If you have some experience in trading, many forex brokers regulated in Germany will allow you to open a professional trading account that comes with a wide selection of perks, including better leverage and lower commission rates. However, you must keep in mind that eligibility for such an account is determined by a set of requirements.
Most forex brokers have set up the same list of requirements for residents of all EU member states, which means the following conditions will also apply to traders residing in Germany.
Provide proof of actively trading sufficient amounts in the last 12 months:
Have a relevant experience in the financial services sector:
Provide proof of a financial instrument portfolio exceeding €500,000:
Requirements for opening a professional account with any regulated German forex broker should be available on the official website of the brand. We recommend checking the conditions of your broker and providing the respective documents to qualify for the perks that come along with professional trading in Germany.
Do keep in mind that if you do manage to open such an account, you will likely need to give up on negative balance protection. As the measure is primarily meant to protect retail clients from poor trading decisions, professionals are considered experienced enough to not need this type of safeguard.
When you trade with forex brokers in Germany, you’ll find different trading platforms. Each one has its good points, making trading easy for different people. Some brokers even have their own special software or online platforms with features you won’t find anywhere else.
One of the most widely used platforms, MT4 is also supported by the majority of German forex brokers. Automatic trading is one of the great features incorporated in MT4, and most brands offer the platform both for desktop and mobile trading.
While MT4 is more suitable for beginner forex traders, MT5 will better serve the needs of forex enthusiasts who wish to expand their trading to markets beyond currency pairs and CFDs. MT5 features more technical indicators, graphics, and other trading tools. German forex brokers tend to offer their customers the MT5 software, its web trader version, and the smartphone application.
Another platform that is often available at German forex brokers, cTrader offers more advanced charts and timeframes, making it even more convenient than MT5. With cTrader, German traders can easily assess trade sizes and place various trading orders.
There are various types of web traders that forex devotees can take advantage of. Some are exclusive to the broker they trade with, while others are the non-downloadable versions of MT4, MT5, or other third-party platforms. Regardless, a web trader will always eliminate the need to install additional software on one’s device and is likely to boast a user-friendly interface that will cater to both beginners and experienced traders.
Below you can find some useful references with links to organizations that monitor the forex market in Germany.
Homepage of Germany’s financial regulator.
This page allows traders to look up and verify the licensing status of a given company. Here, one will also find comprehensive lists of every licence holder.
This page offers insight into the regulatory requirements entities must meet if they wish to operate in Germany.
Detailed instructions on how one can submit complaints should they run into issues with an entity supervised by BaFin.
Page outlining how BaFin can assist consumers.
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