Best Forex Brokers Germany for 2023
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:
- CMC Markets - Excellent overall, best platform technology
- XTB - Great research and education
- eToro - Best for copy and crypto trading
- FXCM - Excellent trading platforms and tools
Germany Forex Brokers Comparison
|Company||Accepts DE Residents||Average Spread EUR/USD - Standard||Minimum Deposit||Overall Rating||Visit Site|
|FXCM||1.38||Starts from $50|
|FP Markets||1.2||$100 AUD||
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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At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and detailed forex guides, and we monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.
Read our full explanation and accounting of our research and testing process to 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.