Best Forex Brokers Germany for 2022
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:
- Saxo Bank - Best web-based trading platform
- CMC Markets - Excellent overall, best platform technology
- XTB - Great research and education
- eToro - Best for copy and crypto trading
- AvaTrade - Great for beginners and copy trading
- Plus500 - Trusted broker, great for beginners
Germany Forex Brokers Comparison
|Company||Accepts DE Residents||Average Spread EUR/USD - Standard||Minimum Initial Deposit||Overall Rating||Visit Site|
|IG||0.86 (September 2022)||£250.00||
|Saxo Bank||0.9 (September 2022)||€2,000|
|CMC Markets||0.51 (August 2022)||$0|
|XTB||1.07 (Q3 2022)||$0|
|eToro||1 (August 2021)||$10-$10,000|
|AvaTrade||0.91 (Aug 2020)||$100|
|Plus500||0.6 (as of Aug 2018)||€100|
|FXCM||1.38 (Q2 2022)||Starts from $50|
|FP Markets||1.2 (August 2022)||$100 AUD|
|Admiral Markets||0.8 (July 2021)||$100|
|IC Markets||0.62 (August 2021)||$200|
|Capital.com||0.6 (July 2021)||$20|
|XM Group||1.6 (Aug 2020)||$5|
|Pepperstone||0.77 (September 2022)||$200|
|Tickmill||0.51 (August 2022)||$100|
|HYCM (Henyep)||0.6 (Sept 2021)||$100|
|HFM||1.2 (August 2021)||$5|
|Vantage||1.22 (August 2021)||$50|
|Moneta Markets||1.27 (September 2022)||$50|
|BlackBull Markets||0.827 (August 2022)||$0|
|ACY Securities||1.2 (Sept 2021)||$50|
|Eightcap||1.0 (Aug 2022)||$100|
|easyMarkets||0.9 (as of Mar 2020)||$100|
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.
Popular Forex Guides
- Best Forex Brokers
- Best Forex Brokers for Beginners
- Best Forex Brokers for Copy Trading
- Best MetaTrader Brokers
- Best Forex Trading Apps
- Best Zero Spread Forex Brokers
- Compare Forex Brokers
For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research.
Each broker was graded on 113 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read more about Trust Score here.
As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with 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. Read more on forex trading risks.