| Updated: June 20, 2025There is no doubt that the European market is opening its doors to forex trading, with multiple countries on the continent introducing a proper regulatory framework for this innovative type of investment. Germany is no exception, with a number of brokers legally operating in the German market, offering forex enthusiasts a safe and fair trading environment. If you are looking for a reputable broker to help you in your forex trading endeavors, we can recommend several of the best brokers in Germany that offer intuitive and easily accessible trading no matter where you go.
Fusion Markets74-89% of retail's CFD accounts lose money
FP Markets73.85% of retail investor accounts lose money
ActivTrades72% of retail investor accounts lose money
BlackBull MarketsTrading leveraged products is risky
Global Prime74-89% of retail CFD accounts lose money
AxiThe vast majority of retail client accounts lose money
Plus50082% of retail investor accounts lose money
eToro61% of retail investor accounts lose money
XTB73% of retail investor accounts lose money
Capital.com70% of retail investor accounts lose money when trading CFDs with this provider.German Forex Brokers Ranked by Trustpilot Score
| Forex Broker | Trustpilot Reviews | |
|---|---|---|
| 1. FP Markets | 8,641 | 4.9 ⭐ |
| 2. Fusion Markets | 3,162 | 4.7 ⭐ |
| 3. Global Prime | 247 | 4.6 ⭐ |
| 4. Capital.com | 12,456 | 4.5 ⭐ |
| 5. eToro | 27,550 | 4.2 ⭐ |
| 6. Plus500 | 15,556 | 4.1 ⭐ |
| 7. XTB | 1,949 | 4.0 ⭐ |
| 8. Saxo Bank | 7,235 | 3.7 ⭐ |
| 9. Swissquote | 3026 | 3.4 ⭐ |
| 10. Iron FX | 657 | 3.1 ⭐ |
German Forex Brokers Ranked by Spread Commission
| Forex Broker | EURUSD | USDJPY | EURGBP | GBPUSD |
|---|---|---|---|---|
| 1. FP Markets | 1.2 | 1.4 | 1.4 | 1.5 |
| 2. Fusion Markets | 1.01 avg (Classic) | 1.17 avg (Classic) | 1.29 avg (Classic) | 1.14 avg (Classic) |
| 3. Global Prime | 0.96 avg (Standard) | 1.47 avg (Standard) | 1.19 avg (Standard) | 1.12 avg (Standard) |
| 4. Capital.com | 0.6 | 1.0 | 2.0 | 1.3 |
| 5. Iron FX | 1.2 | 0.9 | 1.0 | 1.3 |
| 6. Saxo Bank | 1.2 | 2 | 3.1 | 1.6 |
| 7. XTB | 0.9 | 1.4 | 2.1 | 1.4 |
| 8. eToro | 1.0 | 1.0 | 1.5 | 2.0 |
| 9. Plus500 | 1.4 | 2.2 | 1.5 | 1.9 |
| 10. Swissquote | 1.7 | 1.6 | 1.7 | 2.0 |
German Forex Brokers Ranked by Commission per Lot
| Forex Broker | Commission per lot |
|---|---|
| 1. Iron FX | $0 Standard Account; $18 Live Zero Fixed Spread; $10 STP/ECN Zero Spread; $6 STP/ECN Zero Spread Professional |
| 2. Saxo Bank | $3 per lot |
| 3. Plus500 | $0 |
| 4. eToro | $1 or $2 (stocks only) |
| 5. Capital.com | $0 |
| 6. XTB | $0 for Standard accounts, $3.50 per side for Pro accounts |
| 7. Fusion Markets | $0 Classic Account, $4.50 round turn on Zero Account |
| 8. FP Markets | $0 Standard Account; $6 round turn on Pro Account |
| 9. Global Prime | $0 Standard Accounts; $7 round turn on Raw Accounts |
| 10. Swissquote |
|
Important Note: To be eligible to offer trading services to German traders, forex brokers are required to obtain approval from the local authorities. The main trading regulatory body in Germany is the Federal Financial Supervisory Authority or Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). If you want to learn more about the regulator and the guidelines forex brokers must follow to ensure fair and safe trading for their clients, you can head to the official website of BaFin or follow the regulator’s social media accounts on X, Instagram, or LinkedIn.
Top 10 FX Brokers in Germany
Fusion Markets Broker Details Supports German No Germany Currency (EUR) Yes Regulators ASIC, FSA (Seychelles), VFSC (Vanuatu) Min Deposit $0 Trading Platforms MetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade, TradingView Trustpilot Rating 4.7 out of 3,162 reviews Number of CFD Forex Pairs to Trade 80+ Leverage Forex & Metals CFDs: 1:30 (1:500 for forex and metals via VFSC)
Index CFDs: 1:5
Cryptocurrencie CFDs: 1:2 (ASIC), 1:10 (FSA, VFSC)Spread EURUSD: 1.01 avg (Classic)
USDJPY: 1.17 avg (Classic)
EURGBP: 1.29 avg (Classic)
GBPUSD: 1.14 avg (Classic)Forex Commission per Lot per Trade $0 Classic Account, $4.50 round turn on Zero Account Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VNPay, DuitNow, XPay, DragonPay, VAPay, FasaPay, AstroPay, PayID, Jetonbank, Sticpay, Interac, LuqaPay, Zotapay, MiFinity Withdrawal Methods Visa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay Key Pros
- Offers some of the lowest spreads
- ASIC clients enjoy a negative balance protection
- Supports popular trading platforms
- Offers two copy trading platforms
- Supports fiat and crypto payment solutions
Key Cons
- Does not offer investor protection
- Traders outside Australia have no negative balance protection
- Cannot set up an account in a minor currency
- Has no FCA license
Global Prime Broker Details Supports German No Germany Currency (EUR) Yes Regulators ASIC (No. 385620), VFSC (No. 40256) Min Deposit $0 Trading Platforms MT4, MT4 Webtrader, MT4 Android; for VFSC clients MT4, MT5, and GP Copy Trustpilot Rating 4.6 out of 247 reviews Number of CFD Forex Pairs to Trade 56 Leverage Forex & Metals CFDs: 1:500 (1:30 for ASIC entity)
Index CFDs: 1:100 (1:20 for ASIC entity)
Cryptocurrencie CFDs: Up to 1:2 (ASIC); Up to 1:5 (Pro and VFSC)Spread EURUSD: 0.96 avg (Standard)
USDJPY: 1.47 avg (Standard)
EURGBP: 1.19 avg (Standard)
GBPUSD: 1.12 avg (Standard)Forex Commission per Lot per Trade $0 Standard Accounts; $7 round turn on Raw Accounts Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Gate8, Dragonpay, Fasapay, VNPay, Pagsmile, BPay, POLi, AstroPay, Bank Transfer, Interac, Perfect Money, PayID, Jeton, MiFinity, XPay, Crypto Withdrawal Methods Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies
Key Pros
- Overseen by a top-tier financial regulator (ASIC)
- No fees on deposits and withdrawals
- Low fees for FX trading
- Streamlined sign-up process
- A broad range of currency pairs
Key Cons
- Could use more trading platforms
- A limited range of educational resources
- Does not offer Islamic or cent accounts
ActivTrades Broker Details Supports German Yes Germany Currency (EUR) Yes Regulators FCA (UK), CMVM (Portugal), CVM (Brazil), SCB (Bahamas), FSC (Mauritius) Min Deposit $0 Trading Platforms ActivTrader, TradingView, MT4, MT5 Trustpilot Rating 4.5 out of 1,460 reviews Number of CFD Forex Pairs to Trade 56 Leverage Forex & Metals CFDs: 1:30 (1:400 Bahamas)
Index CFDs: 1:20 (1:200 Bahamas)
Cryptocurrencie CFDs: 1:2 (1:20 Bahamas)Spread EURUSD: 0.50
USDJPY: 0.50
EURGBP: 0.80
GBPUSD: 0.80Forex Commission per Lot per Trade $0 Deposit Methods Visa, Mastercard, PayPal, Apple Pay, Google Pay, Skrill, Neteller, Bank Transfer, Cryptocurrencies Withdrawal Methods Visa, Mastercard, PayPal, Skrill, Neteller, Bank Transfer, Cryptocurrencies Key Pros
- Holds an FCA license since 2009
- Safeguards all traders with negative balance protection
- Stores customer funds at first-tier banks like Barclays and Lloyd’s
- Supports free PayPal deposits and withdrawals
Key Cons
- Additional fees on deposits with cards
- Charges administrative fees after 50 weeks of inactivity
Axi Broker Details Supports German No Germany Currency (EUR) Yes Regulators ASIC, FCA, CySEC, DFSA, FSA (Saint Vincent and the Grenadines), FMA Min Deposit $0; $5 (EU and UK) Trading Platforms MetaTrader4, MT4 WebTrader, Axi Mobile Trustpilot Rating 4.5 out of 3,793 reviews Number of CFD Forex Pairs to Trade 80 Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 1.2
USDJPY: 1.3
EURGBP: 1.1
GBPUSD: 1.3Forex Commission per Lot per Trade $0 on Standard Account; $7 round trip on Pro Account Deposit Methods Visa, Mastercard, Bank Transfer, Neteller, Skrill, AstroPay, Fasapay, Przelewy24, Boleto, Pix, Bitcoin, Ethereum, Ripple, Litecoin, Tether, Stellar, POLi, iDEAL, Sofort, Giropay Withdrawal Methods Mastercard, Visa, Bank Transfer, Przelewy24, Fasapay, Skrill, AstroPay, Pix, Boleto, Neteller, Bitcoin, Ripple, Ethereum, Litecoin, Tether, Stellar Key Pros
- Provides multilingual customer support
- Standard and Pro accounts available in 10 base currencies
- No minimum deposit requirements on Pro and Standard accounts
- Over 70 FX pairs tradable from zero pips
- Swift order execution and tight spreads
Key Cons
- A limited choice of trading platforms
- Below-average number of tradable symbols
BlackBull Markets Broker Details Supports German No Germany Currency (EUR) Yes Regulators FSA (Seychelles) (No. SD045), FMA (No. FSP403326) Min Deposit $0 (Standard)$2,000 (Prime)$20,000 (Institutional) Trading Platforms MetaTrader4, MetaTrader5, TradingView, cTrader, MT WebTrader, BlackBull Shares, BlackBull CopyTrader, BlackBull Trade, BlackBull Invest, ZuluTrade Trustpilot Rating 4.8 out of 1,876 reviews Number of CFD Forex Pairs to Trade 70+ Leverage Forex & Metals CFDs: 1:500
Index CFDs: 1:500
Cryptocurrencie CFDs: 1:500Spread EURUSD: 0.9
USDJPY: 1.2
EURGBP: 1.7
GBPUSD: 1.2Forex Commission per Lot per Trade $0 Standard; $6 per lot Prime; $4 per lot Institutional Deposit Methods Visa, Mastercard, Neteller, Airtm, Skrill, Bank Transfer, HexoPay, American Express, POLi, Payment Asia, Help2Pay, FXPay, Fasapay, China Union Pay, Boleto, AstroPay, Beeteller, Bitcoin, Ethereum, Tether, Ripple, Litecoin, Bitcoin Cash, Chainlink, USD Coin, Stellar Withdrawal Methods Visa, Mastercard, Bank Transfer, Airtm, Skrill, Neteller, American Express, POLi, HexoPay, Payment Asia, Help2Pay, FXPay, China Union Pay, Boleto, Fasapay, Beeteller, AstroPay, Bitcoin, Litecoin, Bitcoin Cash, Tether, Ripple, Stellar, Chainlink, Ethereum, USD Coin Key Pros
- Uses proprietary copy-trading platform
- Swap-free trading via ECN Standard and Prime accounts
- Multi-platform support
- Provides a 24/7 customer support service
- Great Education Hub for traders looking to hone their skills
Key Cons
- High commissions per lot on Prime and Institutional accounts
- Charges a $5 fee on withdrawals
Swissquote Broker Details Supports German Yes Germany Currency (EUR) Yes Regulators FCA (562170), DFSA (F001438), SFC (AZV127), MFSA (C 57936), CySEC (422/22), MAS (226182), CSSF, FSCA Min Deposit Standard Account: $1,000; Premium Account: $10,000; Prime Account: $50,000 Trading Platforms CFXD, MetaTrader 4, MetaTrader5 Trustpilot Rating 3.4 out of 3026 reviews Number of CFD Forex Pairs to Trade 80+ Leverage Forex & Metals CFDs: 1:30 (Europe), 1:100 (International), 1:50 (Middle East), 1:20 (Singapore)
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 1.7
USDJPY: 1.6
EURGBP: 1.7
GBPUSD: 2.0Forex Commission per Lot per Trade - $/€0 on Standard, Premium and Prime Accounts;
- $/€2.5 per side per lot for Elite Accounts
Deposit Methods Visa, Mastercard, Bank Transfer, Online Banking Withdrawal Methods Visa, Mastercard, Bank Transfer, Online Banking Key Pros
- Publicly traded reputable brand
- Broker with extensive experience in trading
- Offers competitively low spreads
- Supports MT4 and MT5
- Forex traders can choose from over 80 currency pairs
Key Cons
- Traders must pay an inactivity fee
- Desktop trading platform looks a bit outdated
- Trading fees tend to be higher
7. Saxo BankTRADE NOW 65% of retail investor accounts lose money when trading CFDs with this provider.Saxo Bank Broker Details Supports German No Germany Currency (EUR) Yes Regulators FCA (No. 551422), FSA Denmark (No. 1149), MAS (No. 200601141M), ASIC (No. 32110128286), SFC Hong Kong (No. 1395901), FSA Japan (No. 0104-01-082810), Registered with CONSOB (no. 296) Min Deposit $0 Classic$200,000 + Platinum $1,000,000 + VIP Trading Platforms Proprietary, SaxoTraderGO, SaxoTraderPRO, TradingView, SaxoInvestor Trustpilot Rating 3.7 out of 7,235 reviews Number of CFD Forex Pairs to Trade 185+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 1.2
USDJPY: 2
EURGBP: 3.1
GBPUSD: 1.6Forex Commission per Lot per Trade $3 per lot Deposit Methods Visa, Visa Electron, Mastercard, Maestro, Bank Transfer, Quick Payment Withdrawal Methods Bank Transfer Key Pros
- Offers a varied range of major, minor, and exotic FX pairs
- Provides tier-1 liquidity for high order fill rates
- Boasts over 30 years of experience in the financial industry
- Offers more than 140 FX forward contracts
- Excellent fill rates for FX majors like EUR/USD
Key Cons
- Steep minimum deposits for VIP and Platinum accounts
- Overcrowded and hard-to-navigate website
- Customizing SaxoTraderPRO for desktop takes some time
Plus500 Broker Details Supports German Yes Germany Currency (EUR) Yes Regulators FSA (No.4.1-1/18), FCA (No. FRN 509909), CySEC (No.250/14), FMA (No.47546), SFSA (No. SD039), MAS (No. CMS100648), DFSA (No. F005651), ASIC (No. 417727), BaFin registration, SCB (SIA-F250) Min Deposit $100 Trading Platforms Proprietary, desktop and mobile platforms Trustpilot Rating 4.1 out of 15,556 reviews Number of CFD Forex Pairs to Trade 60+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 1.4
USDJPY: 2.2
EURGBP: 1.5
GBPUSD: 1.9Forex Commission per Lot per Trade $0 Deposit Methods Debit Visa/Mastercard, Wire transfer, Apple Pay, Google Pay Withdrawal Methods Debit Visa/Mastercard, Wire transfer, Apple Pay, Google Pay Key Pros
- Trades publicly on the London Stock Exchange
- Commission-free CFD trading with tight spreads
- Great selection of analytical tools and educational materials
- Easy and quick account opening
- Provides real-time quotes
Key Cons
- Charges administrative fees on inactive accounts
- The platform could use more customization features
eToro Broker Details Supports German Yes Germany Currency (EUR) Yes Regulators FCA, CySEC, ASIC, MFSA, FSRA, FSA, FINRA/FinCEN, AMF, SEC, GFSC Min Deposit $50 or $100 based on country ($10 for the UK, $1 in the US) Trading Platforms eToro Investing, eToro App, TradingView, eToro CopyTrader, Proprietary Trustpilot Rating 4.2 out of 27,550 reviews Number of CFD Forex Pairs to Trade 55 Leverage Forex & Metals CFDs: 1:30 (1:400 advanced leverage at Seychelles entity)
Index CFDs: 1:20 (1:100 advanced leverage at Seychelles entity)
Cryptocurrencie CFDs: 1:2 (UK, CySEC, ASIC), 1:5 (Seychelles)Spread EURUSD: 1.0
USDJPY: 1.0
EURGBP: 1.5
GBPUSD: 2.0Forex Commission per Lot per Trade $1 or $2 (stocks only) Deposit Methods eToro Money, Visa, Mastercard, Neteller, PayPal, Skrill, iDeal, Klarna, Bank Transfer, Trustly, Przelewy24 Withdrawal Methods PayPal, Skrill, Visa, Mastercard, Neteller, Trustly, Bank Transfer Key Pros
- Offers trading with over 6,000 instruments
- Ideal for social and copy trading
- No commissions on forex trades
- Effortless registration process
- Offers negative balance protection
Key Cons
- Withdrawals are subject to additional processing fees ($5)
- USD is the only base account currency
- Charges inactivity fees on dormant accounts ($10 per month)
FP Markets Broker Details Supports German Yes Germany Currency (EUR) Yes Regulators ASIC, CySEC, FSA (Seychelles), FSCA, FSA (St. Vincent and the Grenadines), SCB (Bahamas) Min Deposit $50 (AU$100) Trading Platforms MetaTrader4, MetaTrader5, WebTrader, IRESS, cTrader, TradingView Trustpilot Rating 4.9 out of 8,641 reviews Number of CFD Forex Pairs to Trade 70+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: Up to 1:2 (Retail); Up to 1:5 (Pro)Spread EURUSD: 1.2
USDJPY: 1.4
EURGBP: 1.4
GBPUSD: 1.5Forex Commission per Lot per Trade $0 Standard Account; $6 round turn on Pro Account Deposit Methods Visa, Mastercard, Neteller, Bank Transfer, Skill, Sticpay, Fasapay, Virtual Pay, Perfect Money, Pagsmile, Dragonpay, Crypto, Apple Pay, Google Pay, Online Banking, Broker to Broker, PayPal, XPay, Rapyd Withdrawal Methods Visa, Mastercard, Bank Wire, Neteller, Skrill, Paytrust88, PayPal Key Pros
- Offers plenty of educational trading tools
- Broker with competitive spreads
- Allows easy trading on the go
- Regulated by reputable authorities
- Offers a decent number of currency pairs
Key Cons
- Supported trading platforms are a tad outdated
- Could expand selection of products
- No negative balance and investor protection for clients under ASIC
XTB Broker Details Supports German Yes Germany Currency (EUR) Yes Regulators FCA (License No. FRN 522157), CySEC (License No.169/12), FSC (FSC License No.: 000302/438), IFSC (License No.: 000302/46.), KNF (N/A), CNMV (N/A), BaFin (registered), FSCA (N/A), FSA Norway (registration ID - FT00118162), DFSA (License No. F006316), CMF (Chile) Min Deposit $0 Trading Platforms xStation 5, xStation Mobile Trustpilot Rating 4.0 out of 1,949 reviews Number of CFD Forex Pairs to Trade 70+ Leverage Forex & Metals CFDs: 1:30; 1:20
Index CFDs: 1:20; 1:10
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.9
USDJPY: 1.4
EURGBP: 2.1
GBPUSD: 1.4Forex Commission per Lot per Trade $0 for Standard accounts, $3.50 per side for Pro accounts Deposit Methods Visa, Maestro, Mastercard, Bank Transfer, Neteller, Skrill, PayPal, Ecommpay, PayU, SafetyPay, Paysafecard Withdrawal Methods Bank Transfers, Visa, Mastercard, Skrill Key Pros
- Bears the seals of approval of the FCA, CySEC, BaFin, and KNF
- A mobile-friendly platform
- Offers negative balance protection
- Standard account users are not charged commissions on forex trades
- Low fees overall
Key Cons
- Traders from the US cannot register at XTB
- No support for MT5 and other popular third-party platforms
- Withdrawals under certain thresholds attract additional fees
Is Forex Trading Legal in Germany?
Like many other European countries, Germany has also legalized online forex trading, with multiple brokers operating legally on the territory of the country. Of course, to be eligible to offer such services, trading websites must be licensed by the respective authorities in Germany. As mentioned, the regulation of the forex trading sector in Germany falls under the remit of the Federal Financial Supervisory Authority (BaFin).
It is recommended to always do a thorough checkup of a broker before you engage in any form of trading. Make sure the brand has been licensed and regulated by the BaFin, and confirm the validity of the license and the legitimacy of the broker. In addition to BaFin’s regulations, Germany-friendly forex brokers will also operate under the rules outlined in the European Economic Area’s Markets in Financial Instruments Directive (MiFID II).
Alternatively, German traders can also opt for a forex broker whose operations are overseen by another financial supervisor in the EEA. That means operators can be authorized to legally offer forex trading to Germans thanks to licenses from entities like the Financial Conduct Authority (FCA) or the Cyprus Securities and Exchanges Commission (CySEC).
Protecting investors is one of the main goals of the German financial regulatory body, ensuring that forex brokers will abide by stringent regulatory standards and will always follow best business practices to guarantee safe trading to German traders.
BaFin Regulatory Responsibilities
If you are a trader based in Germany, we recommend always picking broker brands that are regulated by BaFin, which is the main financial authority overseeing forex trading on the territory of Germany. In order to obtain a license from BaFin, brokers are required to meet a certain set of requirements. That way, traders can rest assured that they are trading on a properly regulated forex platform and their funds are always protected via measures of the highest security level.
Licenses for forex trading are issued according to the regulations imposed by the German Capital Investment Code, meaning brokers must fulfill the requirements stipulated in the respective legal document.
In order to be eligible for a license, forex broker operators must maintain a minimum capital of at least €50,000. At the time of submitting their applications, entities must ensure that the said funds have not been financed directly or indirectly via a loan. In addition to proof of minimum capital, license applicants need to provide a set of documents required by the local regulator.
In addition to authorizing the operations of forex brokers, BaFin is also responsible for taking regulatory actions against brokers that have breached security measures or other local guidelines.
Entities providing financial services without the proper license may face serious legal consequences. Meanwhile, under the Federal Supreme Court, art. 32 of the German Banking Act (KWG), customers who have been victims of unlawfully operating brokers can file a lawsuit against the respective company. Any operator who has been previously found to be offering financial services without the proper authorization is no longer eligible for a license from the BaFin. If a company is found to be guilty of violating the injunction, it can face a financial penalty of up to €250,000 and can be prohibited from operating on the German market.
How to Verify BaFin Authorization?
While Germany’s forex market is regulated, it is always recommended to be careful with any broker claiming to be authorized to operate in the European country. To make sure you will enjoy a safe and fair trading environment, you should verify the brand’s license.
As we have mentioned, the BaFin is the official regulator authorizing forex trading operations on the territory of the European country. Any broker licensed to operate in Germany must be transparent with their customers, clearly stating information about the license it has obtained.
If you see the number of the license obtained by the company or its register number, you can verify the validity of the license by checking the registry of BaFin. Such information is available on the official website of the regulator, both in German and English. German traders can look up the brokers by company name, registration number, or BaFin ID. Alternatively, you can browse the authorized brokerage firms in alphabetical order.
You can also contact the support team of the regulatory body and ask directly for the status of any forex broker you are evaluating before you open an account and start trading online. German traders can contact representatives of BaFin over the phone by dialing the local toll-free number 0800 2 100 500 or by calling +49 228 299 70 299 from abroad. The phone lines are staffed on weekdays from 8 am to 6 pm. Requesting information is also possible by sending an email to if@bafin.de. If you think your chosen broker is targeting German customers without the necessary permits, you can additionally check BaFin’s database of warnings about unauthorized companies.
It is also possible that a forex broker operating in Germany has been issued a license by another supervisory entity in the EEA and, therefore, still adheres to the pan-European MiFID II directive. Each regulator will have its own register of licensed entities. For example, you can look up the licensing information of CySEC-regulated brokers by paying a visit to this page.
Do German Forex Brokers Ensure the Safety of Clients’ Funds?
Since the protection of client funds is one of the safety measures German forex brokers are mandated to implement into their operations, you can trust that properly regulated trading companies will ensure top-level security for the money you invest into forex pairs. What is more, upon registration or whenever you request a withdrawal from your trading account, you will most likely be asked to go through a KYC process. This often includes verifying your identity by providing a copy of an ID, uploading a selfie, and/or a copy of a document confirming your physical address.
Negative balance protection is another BaFin-imposed requirement that ensures the safety of your funds at any regulated German broker. As of 2017, licensed German brokers are required to ensure that the losses of investors cannot exceed the amount of their deposits.
German traders can also join brokers operating under another EU license, meaning brands that are compliant with MiFID 2 requirements. This ensures that the money of German trading enthusiasts will be protected, allowing them to enjoy secure forex trading online.
Do German Forex Brokers Provide Negative Balance Protection?
As mentioned above, ensuring negative balance protection is compulsory if a broker is looking to apply for an obtain and operational license from BaFin. As of 2018, entities licensed in any EEA country must also offer this additional type of protection as per the requirements outlined in the MiFID directive.
Simply put, brokers that have the legal authorization to operate in Germany or any of the EEA jurisdictions will provide negative balance protection and, thus, prevent you from accumulating losses bigger than the amount you have deposited into your trading account. That means you will not owe the broker money and will not trade beyond your financial capacity.
Do German Traders Pay Taxes on Their Forex Trading?
Forex traders based in Germany are required to pay taxes on their forex trading profits. Such income falls under the category of capital gains, making your income accumulated from forex trading a taxable amount. The tax rate you are required to pay depends on your overall income.
Under financial laws in Germany, the capital gains tax rate is 25%, with another 5.5% in the form of solidarity tax being added to the taxable amount. That makes the total surcharge on financial investments 26.375%. One thing we would like to note is that German traders may often be eligible for an investor’s allowance that can reduce their forex trading taxes. Conveniently enough, if you trade with a forex broker based out of Germany, the tax is automatically charged at the source. Otherwise, German investors are required to fill out tax return forms on their own.
As of 2025, the investor’s allowance has introduced a threshold of €1,000 per year, which means traders with accumulated income from forex trading below that amount are exempt from this type of tax.
We must caution, however, that tax-related legislation is subject to change. Thus, any aspiring forex trader who resides in Germany should get in touch with a local tax expert in order to get the most up-to-date information on their particular obligations.
How Does the Available Leverage of BaFIN-Regulated Brokers Compare to the Leverage at Brokers Regulated Offshore?
When we consider the maximum leverage offered by forex brokers regulated in Germany, we should keep in mind that the country is a member-state of the EU, which means brokers regulated by the BaFIN are also required to operate in accordance with guidelines imposed by the European Securities and Markets Authority (ESMA). In 2018, the ESMA introduced a mandatory maximum leverage of 1:30 when trading major currency pairs. Meanwhile, for non-major pairs, the maximum allowed leverage is 1:20.
Naturally, the set maximum leverage levels in Germany are identical to those implemented in other EU markets. Other major trading regulators like ASIC and the FCA have also implemented the same leverage caps.
How to Become a Professional Trader in Germany?
If you have some experience in trading, many forex brokers regulated in Germany will allow you to open a professional trading account that comes with a wide selection of perks, including better leverage and lower commission rates. However, you must keep in mind that eligibility for such an account is determined by a set of requirements.
Most forex brokers have set up the same list of requirements for residents of all EU member states, which means the following conditions will also apply to traders residing in Germany.
Provide proof of actively trading sufficient amounts in the last 12 months:
- Traders must have initiated transactions of significant size on forex pairs as frequently as 10 per quarter over the previous four quarters
- Pro account applicants need to provide account statements from trading with regulated forex brokers from the previous month
Have a relevant experience in the financial services sector:
- This includes individuals with at least one year of working experience in the financial sector in a position requiring knowledge of Forex
- Traders are required to provide a letter from an employer confirming their experience of at least one year in the aforementioned position
Provide proof of a financial instrument portfolio exceeding €500,000:
- Users’ portfolios with financial instruments (including shares, cash deposits, profits from investing, and debt instruments) must be over €500,000
- The broker will require the client to send bank account statements of the last month and/or trading account statements as proof of the portfolio’s value
Requirements for opening a professional account with any regulated German forex broker should be available on the official website of the brand. We recommend checking the conditions of your broker and providing the respective documents to qualify for the perks that come along with professional trading in Germany.
Do keep in mind that if you do manage to open such an account, you will likely need to give up on negative balance protection. As the measure is primarily meant to protect retail clients from poor trading decisions, professionals are considered experienced enough to not need this type of safeguard.
What Trading Platforms are Available to German Traders?
There are several trading platforms you may come across as you trade with forex brokers regulated in Germany. Each has its own perks, offering a convenient trading experience to different types of traders. It should be noted that some brokers also offer their proprietary software or web traders that may offer exclusive features that are not available on the commonly used platforms.
MetaTrader 4: One of the most widely used platforms, MT4 is also supported by the majority of German forex brokers. Automatic trading is one of the great features incorporated in MT4, and most brands offer the platform both for desktop and mobile trading.
MetaTrader 5: While MT4 is more suitable for beginner forex traders, MT5 will better serve the needs of forex enthusiasts who wish to expand their trading to markets beyond currency pairs and CFDs. MT5 features more technical indicators, graphics, and other trading tools. German forex brokers tend to offer their customers the MT5 software, its web trader version, and the smartphone application.
cTrader: Another platform that is often available at German forex brokers, cTrader offers more advanced charts and timeframes, making it even more convenient than MT5. With cTrader, German traders can easily assess trade sizes and place various trading orders.
Web Trader: There are various types of web traders that forex devotees can take advantage of. Some are exclusive to the broker they trade with, while others are the non-downloadable versions of MT4, MT5, or other third-party platforms. Regardless, a web trader will always eliminate the need to install additional software on one’s device and is likely to boast a user-friendly interface that will cater to both beginners and experienced traders.
Below you can find some useful references with links to organizations that monitor the forex market in Germany.
- BaFin (Federal Financial Supervisory Authority): Homepage of Germany’s financial regulator.
- BaFin Register: This page allows traders to look up and verify the licensing status of a given company. Here, one will also find comprehensive lists of every licence holder.
- BaFin Market Entry: This page offers insight into the regulatory requirements entities must meet if they wish to operate in Germany.
- BaFin Complaint Submission: Detailed instructions on how one can submit complaints should they run into issues with an entity supervised by BaFin.
- BaFin Consumer Helpline: Page outlining how BaFin can assist consumers.