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Trading forex (currencies) in Germany is popular among residents. While recommended, forex brokers are not required to become authorised by the Federal Financial Supervisory Authority (BaFin) to accept residents of Germany as customers. Clique hier für eine deutsche Übersetzung.
The Federal Financial Supervisory Authority is the financial regulatory body in Germany. Website: https://www.bafin.de.
BaFin was established in 2002 when three supervisory agencies merged to create one agency to oversee banks, credit institutions, insurance companies, financial service companies, brokers and stock exchanges. For a historical breakdown, here's a link to the Federal Financial Supervisory Authority webpage on Wikipedia.CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best Forex Brokers Germany
To find the best forex brokers in Germany, we created a list of all brokers that list Germany as a country they accept new customers from. We then ranked brokers by their Overall ranking.
Here is our list of the best forex brokers in Germany.
- IG - Best overall broker 2021, most trusted
- Saxo Bank - Best for research, trusted global brand
- CMC Markets - Best web platform, most currency pairs
- XTB - Best customer service, great trading platform
- eToro - Best copy trading platform
- FXCM - Excellent platforms, great mobile app
- AvaTrade - Multiple trading platform options
Germany Forex Brokers Comparison
|Forex Broker||Accepts DE Residents||Average Spread EUR/USD - Standard||Minimum Initial Deposit||Overall||Visit Site|
|FXCM||Yes||1.400||Starts from $50-£300 (depending on location)||N/A|
|FP Markets||Yes||1.140||$100 AUD||N/A|
How to Verify BaFin Authorisation
To identify if a forex broker is authorised by BaFin, the first step is to identify the BaFin registration number from the disclosure text at the bottom of the broker's homepage. For example, here's the key disclosure text from IG’s website,
IG Markets Ltd. is authorized and regulated by the Financial Conduct Authority (FCA Registry Number 195355). The IG Europe GmbH is supervised by the Federal Financial Supervisory Authority (BaFin registration number 148759) and the German Central Bank. IG is a brand name of IG Markets Ltd.
Next, look up the registration number on the financial register available on BaFin’s website to validate that the broker is currently authorized in Germany.
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For our 2021 Forex Broker Review we assessed, rated, and ranked 27 international forex brokers. Each broker was graded on 108 different variables and, in total, over 50,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.