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 4 BaFin-regulated trading platforms go the extra mile for day traders:
-
- Demo account
- Min. deposit: $0
- Min. trade: 0.01 Lots
73-89% of retail investor accounts lose money when trading CFDs -
- Demo account
- Min. deposit: $0
- Min. trade: 0.01 Lots
-
- Demo account
- Regulator: FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
- Platforms: Web, MT4, MT5, TradingView
69% of retail CFD accounts lose money. -
- Regulator: CSSF, CBI, CySEC, BaFin, MAS, OSC, ASIC, BMA
- Min. deposit: $0
- Min. trade: $2
Learn how we test brokers and why you can trust our ratings.
Here is a short overview of each broker's pros and cons
- Pepperstone 4.8/5 Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 830,000 clients worldwide. It offers access to 1,400+ 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, helping to ensure a secure environment for day traders at all levels.
- IG 4.8/5 Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers a top-tier 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.
- CMC Markets 4.7/5 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.
- Coinbase 3.5/5 Launched in 2012 as a platform enabling users to buy and sell Bitcoin via bank transfers, Coinbase has emerged as a crypto behemoth, expanding its services to include 240+ crypto assets, developing sophisticated trading platforms for retail investors, listing on the US Nasdaq, and securing licenses with multiple regulators. In May 2025, Coinbase also became the first crypto company to join the S&P 500, a milestone that enhances its reputation..
BaFin Brokers Comparison
| Broker | Regulated by BaFin | EUR Account | Minimum Deposit | Markets |
|---|---|---|---|---|
| Pepperstone | 1 | ✔Yes | $0 | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto CFDs, Spread Betting |
| IG | 1 | ✔Yes | $0 | CFDs (not in US), Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting (UK only) |
| CMC Markets | 1 | ✔Yes | $0 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting, Certificates and Warrants (Germany and Austria) |
| Coinbase | 1 | ✔Yes | $0 | Crypto, Stocks, ETFs (US only), Pre-IPO Perpetual Futures (non-US) |
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| Pepperstone | 3705 | ||||
| IG | 10197 | ||||
| CMC Markets | 3523 | ||||
| Coinbase | 23269 |
Pepperstone
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 24/5 support (18h a day on weekends).
Christian Harris, Reviewer
Pepperstone quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto CFDs, Spread Betting
- Regulator
- FCA, ASIC, CySEC, BaFin, DFSA, SCA, SCB, CMA-Kenya
- Platforms
- Pepperstone Trading Platform, MT4, MT5, cTrader, TradingView
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates up to 30% (index and commodities) and $3/lot (forex) through the Active Trader program.
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing and friendly agents knowledgeable about its products and trading tools.
- Offers a dedicated CopyTrading app for traders who want a less active approach to trading, available in some countries.
Cons
- Pepperstone has removed support for several tools that elevated the trading experience for active retail traders, notably Autochartist, Capitalise.ai and a free VPS for qualifying traders (now only pro traders in some countries).
- Despite improvements to its range of markets, crypto CFD offerings are still fairly limited compared to other brokers who focus on this area, such as Eightcap, and there's no option to invest in real coins.
- Execution may not feel as reliable in fast markets as headline speeds suggest. In our own testing, execution was fast at desired prices, but some community complaints focus on slippage, stop-loss fills and spread-sensitive order triggers during volatile conditions.
IG
IG continues to provide a comprehensive package with an intuitive web platform, best-in-class education for beginners, advanced charting tools bolstered by its recent TradingView integration, real-time data, and robust trade execution for experienced day traders.
Christian Harris, Reviewer
IG quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs (not in US), Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting (UK only)
- Regulator
- CFTC, NFA, FCA, BaFin, ASIC, FINMA, MAS, JFSA, FMA, DFSA, BMA, CONSOB
- Platforms
- Web, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD
Pros
- IG obtained a crypto asset license from the FCA, allowing it to re-enter the UK market to provide buying, selling and storing opportunities on 55+ digital tokens with fees from 1.49%, and all within an FCA-licensed environment.
- The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met.
- IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, plus added US-listed futures and options as well as an AI Index, providing diversification opportunities.
Cons
- IG applies an inactivity fee of $12-$18 per month after 2 years, deterring casual investors.
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges.
CMC Markets
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.
Christian Harris, Reviewer
CMC Markets quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting, Certificates and Warrants (Germany and Austria)
- Regulator
- FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
- Platforms
- Web, MT4, MT5, TradingView
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN
Pros
- The CMC web platform delivers a fantastic user experience with advanced charting tools for day trading and customizable features, catering to both beginners and experienced traders. MT4, MT5 and TradingView (added in 2025) are also supported.
- CMC offers excellent pricing, including tight spreads and low trading fees for all but stock CFDs. The Alpha and Price+ schemes also offer perks for active traders with up to 40% discounts on spreads.
- CMC Funded available from October 2026, providing up to a $100k prop trading-style simulated account to traders looking to prove their skills on CMC's trading infrastructure with wide market access, including prediction markets.
Cons
- The CMC Markets app offers the complete trading package but the design and user experience trails category leaders like eToro.
- An inactivity fee of $15 per month is applied after 12 months of inactivity, which may deter casual investors.
- Despite improvements, the web platform still requires enhancements to make it as intuitive to trade on as software from rivals like IG.
Coinbase
Coinbase is ideal for beginners looking for an intuitive platform to buy and sell a wide variety of cryptocurrencies, with robust security and regulatory compliance. However, its fees are higher compared to competitors in our tests, and it’s not as tailored for short-term traders.
Christian Harris, Reviewer
Coinbase quick facts
- Demo Account
- ✘No
- Instruments
- Crypto, Stocks, ETFs (US only), Pre-IPO Perpetual Futures (non-US)
- Regulator
- CSSF, CBI, CySEC, BaFin, MAS, OSC, ASIC, BMA
- Platforms
- Coinbase, Advanced Trade, Wallet, NFT, TradingView
- Minimum Deposit
- $0
- Minimum Trade
- $2
- Account Currencies
- USD, EUR
Pros
- Users can automatically route their paycheck into USDC or other cryptos, with the daily deposit ceiling raised to $200,000.
- Some users can secure a credit card by using their stablecoins (USDC) as collateral, with up to 4% paid back in Bitcoin.
- Coinbase has teamed up with Chainlink DataLink so now premium exchange data, including spot prices, order books, and futures data, is accessible on-chain, enabling better DeFi pricing and risk management.
Cons
- Frustrating customer support during testing, with most help options hidden behind login, making it tough for locked-out users or non-account holders to get assistance.
- High crypto fees based on tests, especially compared to competitors like Kraken and BitMEX, and notably on the standard dealing platform.
- There are woeful research tools; Advanced Trade has TradingView charts but lacks features like news feeds, economic calendars, and AI market insights.
Methodology
To identify the top brokers regulated in Germany, we:
- Scanned our database of 143 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:
- Navigate to the BaFin’s Database of Companies
- Enter the broker’s name or BaFin-ID in the left-hand search bar and press ‘search’
- 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.
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.
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 must deliver high-quality order execution, considering speed, price and likelihood of execution (key for short-term traders).
- Brokers must display risk warnings on websites, apps and social media, indicating the number of clients losing money trading products like CFDs (vehicle of choice among many day traders).
- Brokers must not offer leverage beyond 1:30 and should close out open CFD positions when an account’s total margin drops to 50%.
- Brokers must provide negative balance protection so clients can’t lose more than their balance while trading on margin (popular with active traders).
- Brokers must use segregated accounts with German banks to protect client money in case of broker insolvency.
- Brokers must routinely report financial and other relevant information to the BaFin.
- Brokers must not use bonuses to entice investors to deposit more money.
- Brokers must meet minimum capital requirements of €750,000.
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.
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.