Since 2011, we’ve traded with and reviewed over 150 brokers in Europe. To find the best brokers for German residents, we’ve dedicated over 50 hours per broker, exploring more than 250 factors across 9 key areas. We’ve then compared them to identify the top performers in various categories. With decades of combined experience, our team of trading experts provides reliable and trusted opinions.
The forex and CFD trading industry in Germany is experiencing significant growth and is known for its highly regulated financial sector. With a multitude of options available to traders of all experience levels, navigating this market can be a daunting task. However, rest assured that we have done the groundwork for you.
Germany boasts a robust regulatory framework, overseen by the Federal Financial Supervisory Authority (BaFin), which prioritizes investor protection. Brokers wishing to operate in the country must obtain a license from BaFin or another reputable European regulator. This ensures that traders’ interests are safeguarded, offering peace of mind in a potentially complex market.
To assist you in making informed decisions, we have employed our industry-leading methodology, meticulously evaluating brokers based on over 250 variables. This thorough evaluation process enables us to identify and present to you the best brokers available in Germany.
We understand that every trader has unique preferences and requirements. Therefore, we have taken into account the diverse needs of German traders and have categorized the brokers accordingly into nine major categories.
To choose the best brokers in Germany, I used the FX Empire 250-point rating system to find the leaders in each category. I focused on the following key features:
Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.
Without further ado, let’s move to the selected brokers.
Founded in 2008, Plus500 is based in London and is listed on the London Stock Exchange under the ticker PLUS. The broker is overseen by multiple top regulators around the world, including CySEC, UK FCA, and ASIC, and offers to trade in forex, commodities, indices, stocks, ETFs, and cryptocurrencies (availability subject to regulation)
Regional Features:
What makes Plus500 stand out is its proprietary WebTrader platform which is available via web browsers, Windows 10 apps, tablets, and smartphones. Traders can use more than 100 technical indicators, as well as classic drawing tools like Fibonacci retracement levels, which are often used in forex trading. Plus 500 also offers a unique +Insights section, which draws data from its client community. This analytical tool shows the most traded instruments, most profit-making positions, most loss-making positions, etc.
My research showed that Plus500 offered tight spreads in some instruments. For example, the spreads for EUR/USD were as low as 0.8 pips, while spreads for other instruments were average for the industry (spreads are dynamic and subject to change).
Founded in 2001, ActivTrades is an online CFD broker with offices around the world that offers over 1100 tradable instruments from different asset classes. The broker is regulated by different jurisdictions globally, including Tier-1 UK FCA, CMVN in Portugal, and CSSF in Luxemburg. ActivReades has issued private indemnity insurance and a ‘best execution policy’, protecting its clients and ensuring quality order execution.
Regional Features:
ActivTrades’ clients can choose between the proprietary platform ActivTrader and the popular MetaTrader4 and MetaTrader 5. My research showed that ActivTrader has multiple in-house tools that boost the overall trading experience. These include SmartOrders which is used for faster order placement and SmartPattern which detects chart patterns and generates statistics.
The broker offers trading over forex pairs, commodities, stocks, indices, cryptocurrencies, bonds, and ETFs. My tests showed that ActivTrades offers low-to-medium spreads and swaps, compared to the broader industry. For example, EUR/USD spreads were 0.7–1.2 pips, while WTI Oil spreads ranged between 0.04 pips and 0.05 pips.
IronFX, established in 2010, offers a wide range of trading options including forex, commodities, indices, stocks, and cryptocurrencies. The broker operates under the regulatory oversight of CySEC, UK FCA, and FSCA.
Regional Features:
IronFX provides access to a comprehensive selection of trading instruments, including 84 forex pairs (minor and exotic), 31 commodities, 149 stocks, 33 indices, 7 FX futures, and 23 cryptocurrencies. The commodity offering encompasses both commodity futures and spot contracts, while the cryptocurrency offering includes various currency pairs.
My tests showed that IronFX’s spread levels varied widely between instruments. For example, spreads for EUR/USD ranged between 0.9 pips and 1.1 pips, for GBP/JPY – 3.6–3.9 pips, while spreads for WTI oil were 0.06–0.07 pips.
The broker offers the widely popular MetaTrader 4 platform available on desktop, web, and mobile. The traders can benefit from advanced indicators, customizable watchlists, copy trading capabilities, and automated trading functionality. Additionally, to assist clients in gaining a deeper understanding of MT4 Advanced platform IronFX has introduced its own dedicated educational guide.
Founded in 2005, FP Markets has established itself as a prominent broker, offering a diverse range of trading instruments to global clients. Based in Australia, the broker operates under the regulation of ASIC and CySEC, ensuring a secure and reliable trading environment for its users.
Regional Features:
During my comprehensive testing, FP Markets demonstrated low fees across various asset classes, including forex, indices, and commodities. Notably, the spreads for WTI Oil were as low as 0.03 points, reflecting the broker's commitment to providing cost-effective trading opportunities. While share CFD spreads were slightly higher than the industry average, with Tesla spread at 0.95 points and Apple spread at 0.40 points, FP Markets still maintains competitive pricing overall.
FP Markets stands out with its diverse selection of trading platforms, catering to the varying preferences and trading styles of its clients. Traders have access to the widely acclaimed MetaTrader 4&5 platforms, the WebTrader platform, ensuring accessibility from any web browser, and the IRESS platform, known for its powerful functionality. Moreover, FP Markets offers a Mobile Trading App, enabling traders to stay connected and trade on the go.
IC Markets, founded in 2009, has established itself as a prominent broker offering access to a staggering portfolio of over 1,700 instruments. Traders can explore diverse markets, including forex pairs, stocks, indices, commodities, bonds, and cryptocurrencies. Headquartered in Australia, IC Markets operates under multiple regulatory agencies, including the esteemed ASIC and CySEC.
Regional Features:
My extensive research has revealed that IC Markets boasts a robust stock offering, enabling clients to trade a remarkable selection of over 1,600 stocks from prominent exchanges such as ASX, NYSE, and NASDAQ.
One area where IC Markets truly shines is its dedication to research and educational support. The broker provides valuable resources to traders, including live analysis sessions, insightful analytical articles, and access to popular third-party tools like Trading Central and AutoChartist.
In my testing of IC Markets' fee structure, I discovered that the broker's fees were better than the industry average. Forex pairs and stock spreads were notably low, for example, for GBP/JPY – 1.2 and 1.5 pips.
IC Markets provides access to industry-leading trading platforms, including the widely acclaimed MetaTrader 4 and MetaTrader 5. These platforms offer a comprehensive suite of tools, advanced charting capabilities, and customizable features, catering to the diverse trading styles and preferences of its clients. Additionally, IC Markets offers the cTrader platform known for its detachable charts, low-latency execution, and level II pricing, further enhancing the trading experience.
Founded in 2011, FXTM is a leading global forex and CFD broker based in Limassol, Cyprus. The broker operates under the strict regulations of multiple jurisdictions, including CySEC and UK FCA, ensuring a secure and trusted trading environment for clients worldwide. With a comprehensive range of offerings, FXTM facilitates trading in forex, commodities, and indices.
Regional Features:
FXTM provides access to the widely acclaimed MetaTrader 4 and MetaTrader 5 platforms, available on desktop and web versions. With support for 39 languages, MT4 offers advanced features like customizable watchlists, sophisticated indicators, alerts, and diverse order types. Additionally, FXTM offers its proprietary FXTM Trader mobile app with a user-friendly interface.
During my evaluation, I assessed FXTM's spreads and observed that the EUR/USD spread on the Micro account was 2 pips, which is relatively high, while spreads for GBP/JPY ranged between 5.2 pips and 6.2 pips, which is also high. However, tighter spreads are available on other account types, although with accompanying commission charges.
Founded in 2005, Multibank provides a diverse range of trading opportunities including forex, commodities, stocks, indices, and cryptocurrencies. Headquartered in the UAE, Multibank operates under the supervision of multiple global regulators, including BaFin.
Regional Features:
MultiBank supports the widely used MetaTrader 4 and MetaTrader 5 platforms, available on desktop, web, and mobile devices, as well as the cTrader platform.
The broker offers three types of accounts including spread-based and commission-based accounts. Advanced traders will benefit from high leverage (up to 1:500), free VPS hosting, expert advisors, MAM/PAMM for multiple accounts managing, and Fix API that may be integrated with MT4 and enables high-speed connectivity. The broker also incorporates social trading and automated trading.
Based on my tests, Multibank offers competitive trading fees. The broker maintains tight spreads, low commissions, and minimal swap fees. It's important to note that an inactivity fee of $60 per month is applicable after 90 days of inactivity, making Multibank suitable for active traders.
Tickmill, established in 2014, provides a wide range of trading instruments including forex, commodities, indices, stocks, bonds, cryptocurrencies, futures, and options. The broker holds regulatory oversight from reputable bodies such as FCA, CySEC, and FSCA. Tickmill’s clients can access the popular MetaTrader 4 and MetaTrader 5 platforms, along with Tickmill's mobile app for seamless trading on the go.
Regional Features:
My research indicated that Tickmill offers robust educational and research materials, such as a dedicated glossary, multiple videos, infographics, and several ebooks. The topics include forex and futures trading, technical analysis, risk management, trading psychology, and other crucial aspects of a trader’s life. The presented content could be useful for both beginner and advanced traders. Notable that German clients can enhance their trading skills through Tickmill's webinars conducted in the German language.
In terms of trading conditions, Tickmill offers competitive spreads and swaps that fall within the low-to-medium range when compared to industry averages. For instance, the spread for Gold typically ranges between 18 and 25 pips.
Established in 2007, eToro has emerged as a pioneering platform in the field of copy trading. With regulation from multiple top-tier authorities, the broker offers a wide array of over 2000 financial instruments, encompassing stocks, cryptocurrencies, ETFs, indices, forex, and commodities.
Regional Features:
eToro revolutionizes the trading landscape with its pioneering approach to copy trading. Traders have the flexibility to execute trades based on their own strategies or effortlessly replicate the proven strategies of others within the platform. From my research, eToro also empowers traders to invest in diversified portfolios that combine top-performing traders or encompass different market sectors.
Based on my findings, eToro exhibits spreads that range from average to competitive. For instance, when assessing spreads for GBP/JPY, I found variations between 2.9 pips and 3 pips.
The broker has made substantial investments in its proprietary platform, which is accessible via both web and mobile devices. eToto trading platform boasts a user-friendly interface with a host of convenient features, including built-in alerts, one-click trading, and seamless trading directly from the chart.
Established in 2012, RoboMarkets is a Cyprus-based broker offering a diverse range of trading opportunities in forex, commodities, stocks, ETFs, and indices. The broker is regulated by renowned authorities such as BaFin and CySEC that ensure traders a high level of protection.
Regional Features:
RoboMarkets delivers a robust trading experience through its array of platforms, including MetaTrader 4 and MetaTrader 5, along with their in-house R StocksTrader and RoboMarkets Terminals. The latter stands out for its intuitive user interface and sophisticated toolkit catering to both rookie and veteran traders. This platform boasts state-of-the-art charting options, replete with multiple timeframes and customizable indicators that make technical analysis a breeze.
The layout is designed for optimal navigation, grouping essential functions like order management, market watch, and account summary in easily accessible panels. Users will particularly appreciate the platform's sleek design, which successfully balances visual appeal with functionality.
Through my thorough analysis, I discovered that RoboMarkets boasts an extensive selection of 12,000+ instruments, encompassing stocks, ETFs, and CFDs. Notably, the broker stands out with its vast offering of 120+ CFDs on commodity ETFs, positioning itself among the industry's leaders in this regard.
In terms of spreads, RoboMarkets presents attractive conditions for certain instruments, while others may be less competitive. For instance, in evaluating the R StocksTrader account, I observed narrow spreads of just 0.2 pips for EUR/USD, accompanied by commission charges.
FX Empire, with a history dating back to 2010, has established itself as a reputable authority in broker reviews. Our extensive experience in evaluating CFD brokers, spanning over a decade, has led us to develop a meticulous and comprehensive review strategy. Adhering to rigorous guidelines for editorial integrity, we maintain a commitment to providing unbiased assessments.
Our review process adheres to a diligent protocol, encompassing objective criteria and measurable data. This systematic approach enables us to generate an impartial score that accurately reflects the broker’s performance. Through our efforts, we aim to furnish traders with a comprehensive and unbiased review, enabling them to make informed decisions tailored to their specific requirements.
To choose the best brokers for you, we rate them across nine categories and calculate a score that reflects their performance. The categories include
We open accounts, test platforms, measure spreads, and chat with support teams to collect as much data as we can for each broker. In total, we examine brokers according to over 250 data points.
Every category receives a rating from one star (weak) to five stars (excellent). The broker’s total score depends on its performance in each of these nine categories.
We highlight each broker’s strengths and weaknesses, explain regulatory details, and share the results of our live tests of brokers’ fees, customer support, and trading platforms. To learn more about our review process, click here.
For this best brokers page, we selected the best forex brokers in Germany. As traders have different needs, we separated the brokers into categories where they stood out as winners.
The team of forex and CFD writers and editors at FX Empire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Use our guide to choose the forex broker in Germany according to your needs.
The process of choosing a broker begins with learning where your potential broker is regulated. Germany-based traders may find BaFin-regulated brokers, although the majority of brokers will offer a CySEC-regulated entity.
Traders should prioritize essential safeguards such as negative balance protection, segregated funds, and compensation funds, all of which offer reassurance in case of financial issues. BaFin and CySEC equally enforce robust protections for traders.
Read more about best CySEC-regulated brokers and best BaFin-regulated brokers.
Typically, brokers charge spreads, commissions, swap/rollover fees, and inactivity fees.
The spread is the difference between the bid and the ask price. The higher the spread, the more you pay for the trade. We consider spreads below 1 pip for EUR/USD and 3 pips for GBP/JPY to be low.
A commission is a fixed cost of entering the trade. Usually, accounts that charge commissions offer low spreads. For instance, for forex pairs and gold commissions below $3 are considered to be low.
A swap/rollover fee is charged when you hold a leveraged position overnight. Traders should pay extra attention to these fees if they plan to use swing trading strategies, which involve holding positions for several days or even weeks. For forex pairs, a swap rate below 0.5 pips is viewed as a good result.
An inactivity fee is a fee that is charged by the broker if your account is dormant. In this case, a certain amount of money is charged on a monthly basis. An inactivity fee below $10 is considered to be low.
Check out our list of best lowest spread forex brokers.
As a Germany-based trader, you should understand the difference between various types of accounts that will help you to choose the right one.
Read more about Best forex demo accounts, Best ECN forex brokers, and Best Islamic forex accounts.
Typically, most brokers provide access to MetaTrader4 and/or MetaTrader5. Those are sophisticated platforms with a variety of tools tailored mainly for experienced traders, hence, beginners may have to spend some time learning the ropes.
Some brokers have also developed in-house trading platforms. Usually, such platforms are focused on the needs of different levels of traders. They are easy to navigate and simple to use.
The choice of trading platform depends on personal preferences and trading experience. Novice traders are advised to begin with a user-friendly platform or a mobile app, whereas experienced traders typically opt for MT4/MT5.
Check out our dedicated guides on best forex platforms, best MT4 brokers, and best MT5 brokers.
Leverage allows traders to use borrowed funds to increase their profits. The higher the leverage, the higher your potential profits are. However, leverage is a double-edged sword, and using high leverage also boosts your potential losses. Thus, beginners will be better off starting with low levels of leverage to avoid outsized losses.
The maximum potential leverage that the broker can offer is determined by the regulator. Reputable regulators like FCA and CySEC usually limit the leverage to 1:30. For retail traders, BaFin sets leverage limits at 1:30 for major currency pairs, 1:20 for non-major currency pairs and gold, 1:10 for commodities, 1:5 for indices and single stocks.
On the contrary, offshore regulators may allow the broker to offer leverage of up to 1:3000. To get access to higher leverage, traders should open accounts with entities that are regulated by offshore regulators and offer fewer protections. Note that it’s necessary to consider your risk tolerance and trading strategy before engaging in high-leverage trading.
Here are the five things to avoid when choosing a broker in Germany:
To safeguard yourself against forex scams, follow these essential guidelines:
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.