Federal Financial Supervisory Authority (BaFin) Brokers 2024

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James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
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William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
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Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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The Federal Financial Supervisory Authority, better known as BaFin, is Germany’s chief financial regulator that oversees online brokers. Considered a ‘green-tier’ regulator in line with our Regulation & Trust Rating, it ensures excellent safeguards for traders in Germany.

Authorized platforms must comply with various regulations, notably the Securities Trading Act. Brokers that fail to comply risk hefty penalties, with the BaFin issuing 40 fines totaling over €8.1 million in 2023 alone.

We’ve identified the best brokers regulated by the BaFin, after personally verifying their credentials on the regulator’s Database of Companies.

Top BaFin Brokers

These 5 BaFin-regulated trading platforms go the extra mile for day traders:

BaFin Brokers Comparison

BaFin Brokers Comparison
Broker Regulated by BaFin EUR Account Minimum Deposit Markets Visit
Pepperstone logo
$0 CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting Visit
IG logo
$0 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Visit
CMC Markets logo
$0 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting Visit
MultiBank FX logo
- $50 Forex, CFDs, indices, shares, metals, commodities, cryptocurrencies Visit
FXPrimus logo
$15 CFDs, Forex, Stocks, Cryptos, Futures, Options, Commodities, Bonds Visit

#1 - Pepperstone

Why We Chose Pepperstone

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
  • Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
  • Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:500 (Pro)

#2 - IG

Why We Chose IG

Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
  • Regulator: FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA
  • Platforms: Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:250 (Pro)

#3 - CMC Markets

Why We Chose CMC Markets

Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.

"With advanced charting tools and an extensive range of tradable CFDs, including an almost unrivalled selection of currencies and custom indices, CMC Markets provides a fantastic online platform for traders of all levels. "

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting
  • Regulator: FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
  • Platforms: Web, MT4
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:500 (Pro)

#4 - MultiBank FX

Why We Chose MultiBank FX

MultiBank FX is an established broker offering forex and CFD products since 2005. With 20,000+ instruments, plenty of local payment methods and 24/7 multilingual customer support, the broker is a popular choice among traders globally. New clients can also access a variety of bonus offers and access the hugely popular MT4 and MT5 trading platforms.

"MultiBank FX is a great option for active forex traders with 55 currency pairs, spreads from 0.0 pips and high leverage up to 1:500."

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, shares, metals, commodities, cryptocurrencies
  • Regulator: SCA, MAS, CySEC, ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, VFSC
  • Platforms: MultiBank-Plus, MT4, MT5, cTrader
  • Minimum Deposit: $50
  • Minimum Trade: 0.1 Lots
  • Leverage: 1:500

#5 - FXPrimus

Why We Chose FXPrimus

FXPrimus is an award-winning CySEC-regulated brokerage offering CFD trading on 200+ instruments via the MetaTrader 4, MetaTrader 5 and cTrader platforms. The choice between a competitive commission-free account and two affordable raw spread options make this an accessible broker for anyone seeking forex, stocks, indices and commodities with high leverage.

"FXPrimus's platform support, fast execution, raw spread/commission-free accounts and copy trading support make it a good all-rounder for beginner and experienced forex traders."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Cryptos, Futures, Options, Commodities, Bonds
  • Regulator: CYSEC, MIFID, ICF, FCA, BaFin, VFSC
  • Platforms: MT4, MT5, cTrader
  • Minimum Deposit: $15
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:1000

Methodology

To identify the top brokers regulated in Germany, we:

  • Scanned our database of 500 brokers to identify those who claim to be regulated by the BaFin
  • Ran their company credentials through the public register to verify they were authorized
  • Ranked them by their rating, blending 100+ data points with the findings of our testers

How Can I Check A Broker Is Regulated By The BaFin?

Checking a broker is regulated by the BaFin is straightforward:

  1. Navigate to the BaFin’s Database of Companies
  2. Enter the broker’s name or BaFin-ID in the left-hand search bar and press ‘search’
  3. Click on the ‘selected’ companies to check details, such as authorized activities and date issued

Below you can see the results of a search I ran on CMC Markets (sports one of the best charting platforms I’ve used), showing the broker is authorized.

Using BaFin database to confirm CMC Markets is regulated Below you can see the results of a search I ran on eToro (offers a fantastic social trading network), showing the broker is not authorized.

Checking whether eToro is regulated in Germany

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German traders can also sign up with brokers regulated elsewhere in the European Economic Area (EEA). This is known as a European passport for trading firms, and aligns with the free movement of services principle.

What Rules Must BaFin-Regulated Brokers Follow?

Online brokers regulated by the German Bundesanstalt für Finanzdienstleistungsaufsicht, or Federal Financial Supervisory Authority, must follow a robust set of rules to safeguard retail investors and the country’s financial system, notably:

Brokers that fail to satisfy the regulator’s rules risk enforcement action. For example, Degiro, one of the largest brokers in Europe and part of German-listed Flatex bank, was handed a €1,050,000 fine in 2023 for internal control failings relating to its money laundering and risk management systems.

The BaFin have also published a number of useful reports over the years that aim to educate retail investors about the risks of online investing, popular short-term trading products, and trends in the German financial markets.

I recommend reading the articles I’ve collated below.

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James Barra
Author

Bottom Line

Choosing a broker regulated by the BaFin is advisable for German day traders. This highly trusted, widely respected and proactive regulator helps ensure authorized brokers provide a secure, transparent and fair trading environment.

That said, online trading remains risky, even when you use a German-regulated broker. As such, only deposit what you can afford to lose.

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com