Best Forex Brokers in Germany

Germany is a wealthy nation, and it has sophisticated financial systems to invest, and grow its wealth. Forex and CFD (Contracts for Difference) trading in Germany is highly popular and strictly regulated by multiple financial institutions. Germany is a member of the European Union and in addition to local regulators, brokers operating in the country are required to comply with EU regulations. 

The main financial regulator that oversees financial trading in Germany is the Federal Financial Supervisory Authority, also known as the “Bundesanstalt für Finanzdienstleistungsaufsicht” (BaFin) in German. BaFin supervises various financial activities and institutions in the country including trading, banks, insurance companies, investment firms, and more. The main goal of the regulator is to provide a fair, transparent and efficient financial environment for sustainable development of Germany’s financial sector. 

Major European regulators that set rules and regulations of the EU countries are: European Securities and Markets Authority (ESMA), and Markets in Financial Instruments Directive (MiFID). In order to protect traders from dangerous impacts of using high leverage, regulators put a cap on maximum leverage brokers can offer to German and European traders. 

Maximum available leverage for retail traders in Germany varies depending on the financial instrument. 

• 30:1 for trading major currency pairs
• 20:1 for trading minors, gold CFD, and major indices
• 10:1 for commodities (excluding gold CFD)
• 2:1 for crypto CFDs

For professional traders, maximum available leverage for trading Forex is 500:1. To find the best broker in Germany, traders need to compare regulations, trading fees and overall trading conditions of different brokers with one another. In this guide, we break down and compare trading conditions of top Forex and CFD brokers in Germany to make the selection process easier for you. 

A quick comparison of the best Forex brokers in Germany

Every trader has different styles and preferences. Before you start the selection process, it’s best to make a list of your own priorities. Include what you are planning to trade, which is your favorite trading platform, and your trading style. Day traders prioritize brokers with low spreads, and longer timeframe traders such as position traders or swing traders prefer brokers with low commissions. Some brokers even offer various account types to attract different traders. We have selected a diverse list of industry leader Forex brokers that accept traders from Germany.

	Pepperstone Read the review Visit broker 8.2 8.2 7.75 7.75 Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.	HFM Read the review Visit broker 7 7 5.86 5.86 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.77% of retail investor accounts lose money when trading CFDs with HF Markets (Europe) Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	XM Read the review Visit broker 8.4 8.4 8.34 8.34 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.03% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	AvaTrade Read the review Visit broker 8.8 8.8 7.63 7.63 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	CMC Markets Read the review Visit broker 8.8 8.8 0 0 Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Risk Notice	CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 85.12% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.77% of retail investor accounts lose money when trading CFDs with HF Markets (Europe) Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Operates in Europe under	The Cyprus Securities and Exchange Commission (Licence Number 388/20)	Pepperstone GmbH is supervised by the Federal Financial Supervisory Authority (BaFin) with registration number 151148.	The Financial Services Commission (FSC) (license number 000261/397); Cyprus Securities and Exchange Commission (CySEC) (license number 120/10	AVA Trade EU Ltd is regulated by the Central Bank of Ireland. (No.C53877)	CMC Markets Germany GmbH is authorised and regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), registration number 154814
Standard account spreads on EUR/USD pair start from	From 1 pips	From 0.6 pips on Pro account	From 1 pips	From 0.9 pips	From 0.7 pips
Minimum initial deposit	0 USD	100 USD	5 USD	100 USD	0 USD
Desktop trading platforms	MetaTrader 4, MetaTrader 5, cTrader, TradingView	MetaTrader 4, MetaTrader 5	MetaTrader 4, MetaTrader 5	MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade	MetaTrader 4, Next Generation CFD, Share trading standard platform, Share trading Pro platform
Offered asset classes	Forex, Cryptocurrencies, shares, ETFs, Indices, Commodities, Currency Indices	Forex, CFDs on Stocks, Indices, Commodities, Bonds, Cryptocurrencies	Forex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Metals, Energies, Shares	Forex, Stock CFDs, ETFs, Commodities, Indices, Cryptocurrencies	Forex, CFDs on stocks, Physical shares, Indices, Commodities, Cryptocurrencies, Bonds

Pepperstone

Pepperstone was founded in 2010, and quickly grew in popularity. The broker currently serves more than 300,000 traders worldwide, including Germany. Pepperstone offers access to a wide range of Forex trading platforms such as a full set of MetaTrader platforms, cTrader, and TradingView. 

Pepperstone is a well-regulated Australian broker that provides financial services in multiple countries. The broker is licensed in many jurisdictions, however, in Germany, Pepperstone operates under the local regulator. Pepperstone GmbH is supervised by the Federal Financial Supervisory Authority (BaFin) with registration number 151148.

The broker has created trading accounts for both active and passive traders. For active trading, a Razor account is best. For less active traders such as position traders, beginners and swing traders, Standard account is better suited due to the fee structure on each. Let’s take a look at the account comparison table for more details.

HFM

HFM was founded in 2010 and since then has become widely successful worldwide. Today, the broker provides financial services to 2.5 million trading accounts all over the world.

HF Markets is regulated in multiple jurisdictions. For German traders, the broker operates under CySEC (Cyprus Securities and Exchange Commission) with the license number 183/1. In addition, HFM is compliant with the Markets of Financial Instruments Directive (MiFID) of the European Union.

HF Markets offers various account types to attract different types of traders. The broker uses trader assessment methods to determine level of experience and professionalism before opening an account to be in line with the European regulations. Let’s take a closer look at each account type. 

XM 

XM is one of the best brokers not only in Europe, but globally. The broker was founded in 2009 and has a huge experience. XM has a large pool of loyal customer base. The broker provides financial services to more than 5 million traders from more than 190 countries. 

XM is well-regulated in multiple countries. In Europe, including in Germany, XM operates under Cyprus Securities and Exchange Commission (CySEC) license (number 120/10), and international license from the Financial Services Commission (FSC) license (number 000261/397). The broker is well regulated, highly experienced and reputable, which means that XM can be trusted. 

XM offers 3 account types to German traders. Each account is unique and aims to attract different trader types. 

• The micro account is best suited for beginners, traders with small capital, and traders looking for ways to test their strategies in live trading environments with the smallest capital at risk.
• XM Ultra Low Standard Account is best suited for swing traders, position traders and beginners.
• XM Zero Account works best for day traders, scalpers, high frequency traders, algorithmic traders, arbitrage traders, and news traders. 

For more detailed comparison, let’s take a look at the comparison table below:

AvaTrade

AvaTrade was founded in 2006 and since then has managed to become an international broker with a great reputation. The broker offers over 1250 instruments for trading, low trading fees, and social trading platforms such as AvaSocial, and AvaTraderGo. The major desktop platforms are MetaTrader 4, and MetaTrader 5. 

AvaTrade provides traders with exceptional customer support available in multiple languages, including in German. Traders can contact the broker via live chat, accessible from the live chat window, send them email, or call the broker. 

AvaTrade is well-regulated in multiple countries. In Europe, and in German, the broker is managed by the AVA Trade EU Ltd, and is licensed by the Central Bank of Ireland. (Registration No.C53877).

There is a Standard account available for traders at AvaTrade. Spreads on Euro against USD start from 0.9 pips, and there are zero commissions. This fee structure is ideal for beginners, position traders and swing traders. 

The lack of a Raw spread account means that many intraday traders such as arbitrage traders, algorithmic traders, and high frequency traders may feel discouraged to open live trading accounts with this broker.

CMC Markets

CMC Markets was established in 1989 and has managed to grow very fast. The broker offers access to various asset classes, including one of the largest selection of Forex pairs. You can trade more than 330 currency pairs with this broker. In addition, there are over 10,000 CFDs on Stocks available for trading. Trading fees are low, however, keep in mind that the broker charges traders with inactivity fees of 10 EUR per month after 12 months of inactivity. 

CMC Markets provides financial services globally and is regulated in multiple jurisdictions. In Germany, CMC Markets Germany GmbH is authorised and regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Registration number 154814.

The broker offers 3 account types to meet the needs of different trader types. Each account type has its own features. Let’s take a look at the comparison table for more details.

Best choice of the broker in Germany per category

When selecting a broker, it’s important to take into account various factors, such as security, customer support, trading fees, available platforms, and offered assets. In this section, we break down brokers based on the number of tradable instruments per asset class and their trading fees. 

Best Broker in Germany for Forex Trading

For the comparison, we selected Standard account trading fees, as these accounts usually do not involve commissions, ensuring fair comparison. Brokers typically offer accounts with either spread markups or commissions.

When it comes to the number of FX assets and trading fees, CMC Markets is a clear winner. The broker offers access to various currency pairs including majors, minors, and exotics. 

Best Broker in Germany for Share CFD (Contracts for Difference) Trading

Stocks as CFDs allow traders to buy and sell company shares without actually owning the underlying assets. CFDs are speculative instruments that are designed for short and medium time frame traders and market speculators. CFDs enable traders to use leverage, enjoy high leverage, and give them the ability to make money in falling markets by shorting assets. On the contrary, CFDs are not effective for investing long term due to overnight fees that accumulate. For investing long term, traders use real/physical shares. 

CMC Markets, XM and Pepperstone offer access to a huge number of shares as CFDs. In addition, there are dedicated trading accounts for long term investors at XM and CMC Markets. 

Best Broker in Germany for Crypto CFD Trading

Similarly to stock CFDs, crypto CFDs come with many benefits such as:

• Access to leverage
• Higher liquidity and tighter spreads
• Can be traded long or short

In addition, when trading crypto CFDs, you don’t need to have crypto wallets or worry about how to cash out. Returns from your trading activity are directly added to your account balance. 

When it comes to trading crypto derivatives, XM offers the widest selection and there are no commissions. Instead, fees are integrated into spreads and are variable based on market conditions. It should be mentioned that, in general, trading fees at XM are low.