Best Forex Trading Platforms In Germany 2024
After your perfect forex broker? We’ve tested, rated and ranked the top forex trading platforms in Germany.
10 Top Forex Brokers In Germany
These are the best forex brokers for traders in Germany according to our exhaustive analysis and firsthand tests:
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1
Eightcap
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:30ASIC, FCA, CySEC, SCBCFDs, Forex, Stocks, Indices, Commodities, CryptoMT4, MT5, TradingViewNeteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal, Dragonpay, PIX PaymentUSD, EUR, GBP, CAD, AUD, NZD, SGD -
2
Vantage50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$500.01 Lots1:500FCA, ASIC, FSCA, VFSCCFDs, Forex, Stocks, Indices, Commodities, ETFs, BondsProTrader, MT4, MT5, TradingView, DupliTradeSkrill, BPAY, JCB Card, AstroPay, Visa, Swift, Neteller, Wire Transfer, Credit Card, Debit Card, UnionPay, FasaPay, Sticpay, Bitwallet, VoletUSD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN -
3
AvaTrade79% of retail accounts lose money with this provider.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:30 (Retail) 1:400 (Pro)ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, FuturesWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTradeSkrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, BoletoUSD, EUR, GBP, CAD, AUD -
4
FOREX.com20% Welcome Bonus Up To $500074-76% of retail accounts lose money with this provider.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:30NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMAForex, CFDs, Stocks, Indices, Commodities, Futures, Options, CryptoMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentralWire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN -
5
PepperstoneCFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.6% of retail investor accounts lose money when trading CFDs.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:500 (Pro)FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCBCFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread BettingMT4, MT5, cTrader, TradingView, AutoChartist, DupliTradeVisa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, Skrill, PIX PaymentUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
6
XM74.12% of retail accounts lose money.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50.01 Lots1:30ASIC, CySEC, DFSA, IFSCCFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, EnergiesMT4, MT5, TradingCentralCredit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-PesaUSD, EUR, GBP, JPY -
7
PrimeXBT$100 Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:1000CFDs, Cryptos, Forex, Indices, Commodities, FuturesOwnBitcoin Payments, Ethereum Payments, Credit Card, Debit CardUSD, EUR, GBP -
8
IGSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:222 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
9
FxPro77.20% of retail accounts lose money with this provider.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited)FCA, CySEC, FSCA, SCB, FSACFDs, Forex, Stocks, Indices, Commodities, FuturesFxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTradeWire Transfer, Credit Card, PayPal, Skrill, Neteller, Maestro, Mastercard, Visa, Google Wallet, Bitcoin Payments, Ethereum PaymentsUSD, EUR, GBP, AUD, JPY, ZAR, CHF, PLN -
10
CMC MarketsSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:500 (Pro)FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSACFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread BettingWeb, MT4Visa, Mastercard, Wire Transfer, Credit Card, Debit Card, PayPalUSD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN
Here is a short summary of why we think each broker belongs in this top list:
- Eightcap - Eightcap offers 50+ currency pairs in line with the industry average but trailing category leaders like CMC Markets with its 300+ currency pairs. However, Eightcap stands out with institutional-level spreads from 0.0 pips on major pairs like the EUR/USD, alongside low $3.50/side commissions. The broker also offers rich forex data to inform trading decisions, including key fundamentals, bullish/bearish indicators and a calendar that tracks key events in the foreign exchange market.
- Vantage - Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
- AvaTrade - AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.
- FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.
- Pepperstone - Pepperstone offers ultra-competitive forex spreads averaging 0.12 pips on EUR/USD in the Razor account, accompanied by a diverse portfolio comprising 100+ currency pairs - an extensive selection surpassing most competitors. Additionally, Pepperstone distinguishes itself by offering three currency indices (USDX, EURX, JPYX), not commonly found among alternative platforms. Pepperstone has now won our annual 'Best Forex Broker' award twice.
- XM - XM offers a strong selection of currency pairs with no re-quotes or hidden charges, while spreads have come down over the years, now starting from 0.8 pips on the EUR/USD in the commission-free account.
- PrimeXBT - PrimeXBT offers forex trading on over 50 majors, minors and exotics with margin opportunities and zero commissions. The forex platform is fast, reliable and feature-rich based on our latest tests with 3 charts, 10 timeframes, and 91 technical studies - ideal for active trading strategies.
- IG - IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD.
- FxPro - FxPro offers 70+ currency pairs but no minors and stands out with its ultra-fast execution speeds and tight spreads averaging 0.45 pips on EUR/USD. Forex traders can also build test and deploy short-term trading strategies on the industry-leading MT4 software, with expert advisors (EAs) for algo trading.
- CMC Markets - CMC presents an extensive array of 300+ forex pairs characterized by tight spreads and rapid executions, surpassing the offerings of many competitors in terms of currency diversity. Forex indices also present a fairly unique and holistic way to speculate on the value of key currencies like the USD, EUR and GBP.
Best Forex Trading Platforms In Germany 2024 Comparison
| Broker | Forex Assets | EUR/USD Spread | Forex App Rating | Minimum Deposit | Regulator |
|---|---|---|---|---|---|
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50+ | 0.0 | / 5 | $100 | ASIC, FCA, CySEC, SCB |
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55+ | 0.0 | / 5 | $50 | FCA, ASIC, FSCA, VFSC |
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50+ | 0.9 | / 5 | $100 | ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM |
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80+ | 1.2 | / 5 | $100 | NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA |
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100+ | 0.1 | / 5 | $0 | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB |
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55+ | 0.8 | / 5 | $5 | ASIC, CySEC, DFSA, IFSC |
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45+ | 0.1 | / 5 | $0 | - |
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80+ | 0.8 | / 5 | $0 | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM |
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70+ | 0.45 | / 5 | $100 | FCA, CySEC, FSCA, SCB, FSA |
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300+ | 0.7 | / 5 | $0 | FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA |
Eightcap
"Eightcap delivers in every area for day traders with a growing selection of charting platforms, education via Labs, and AI-powered tools. Now sporting 120+ crypto CFDs, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."
Christian Harris, Reviewer
Eightcap Quick Facts
| GBPUSD Spread | 0.1 |
|---|---|
| EURUSD Spread | 0.0 |
| EURGBP Spread | 0.1 |
| Total Assets | 50+ |
| Leverage | 1:30 |
| Platforms | MT4, MT5, TradingView |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.
- After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
- Having excelled across all key areas for day traders, Eightcap outperformed every competitor to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
Cons
- The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
- In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
- Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
Vantage
"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."
Vantage Quick Facts
| Bonus Offer | 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme |
|---|---|
| GBPUSD Spread | 0.5 |
| EURUSD Spread | 0.0 |
| EURGBP Spread | 0.5 |
| Total Assets | 55+ |
| Leverage | 1:500 |
| Platforms | ProTrader, MT4, MT5, TradingView, DupliTrade |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN |
Pros
- It’s quick and easy to open a live account – taking less than 5 minutes
- There are no short-term strategy restrictions with hedging and scalping permitted
- The broker has recently made efforts to expand its suite of CFDs providing further trading opportunities
Cons
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
- A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
AvaTrade
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
AvaTrade Quick Facts
| GBPUSD Spread | 1.5 |
|---|---|
| EURUSD Spread | 0.9 |
| EURGBP Spread | 1.5 |
| Total Assets | 50+ |
| Leverage | 1:30 (Retail) 1:400 (Pro) |
| Platforms | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade |
| Account Currencies | USD, EUR, GBP, CAD, AUD |
Pros
- Recently introduced AvaFutures offers an alternative vehicle to speculate on over 35 markets with low day trading margins
- The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
- Automated trading is supported through MetaTrader Expert Advisors (EAs), as well as the AvaSocial and DupliTrade tools
Cons
- Traders from the US are not accepted
- It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here
- There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
FOREX.com Quick Facts
| Bonus Offer | 20% Welcome Bonus Up To $5000 |
|---|---|
| GBPUSD Spread | 1.3 |
| EURUSD Spread | 1.2 |
| EURGBP Spread | 1.4 |
| Total Assets | 80+ |
| Leverage | 1:30 |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
Cons
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
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 24/7 support."
Pepperstone Quick Facts
| GBPUSD Spread | 0.4 |
|---|---|
| EURUSD Spread | 0.1 |
| EURGBP Spread | 0.4 |
| Total Assets | 100+ |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Platforms | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
- Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
- Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
Cons
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets, though it has introduced an intuitive copy trading app.
- Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
XM
"With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years."
XM Quick Facts
| GBPUSD Spread | 0.8 |
|---|---|
| EURUSD Spread | 0.8 |
| EURGBP Spread | 1.5 |
| Total Assets | 55+ |
| Leverage | 1:30 |
| Platforms | MT4, MT5, TradingCentral |
| Account Currencies | USD, EUR, GBP, JPY |
Pros
- XM’s Zero account is ideal for day trading with spreads from 0.0 pips, 99.35% of orders executed in <1 second, and no requotes or rejections.
- XM’s growing roster of 1,000+ instruments provides diverse short-term trading opportunities, with unique turbo stocks, fractional shares, and more recently thematic indices.
- XM stands out for its commitment to trader education, with a wealth of well-presented resources, including webinars, tutorials, and even real-time trading sessions through XM Live.
Cons
- XM is falling behind the curve by not offering cTrader and TradingView which are increasingly being favored over MetaTrader for their smoother user experience and superior charting packages.
- While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders.
- Although trusted and generally well-regulated, the XM global entity is registered with the weak IFSC regulator and UK clients are no longer accepted, reducing its market reach.
PrimeXBT
"PrimeXBT is perfect for aspiring traders looking for crypto derivatives alongside traditional markets like forex and indices, all tradable on an intuitive, web-based platform. The copy trading solution is also ideal for hands-off traders with 5-star ratings and performance graphs to help you find the right trader."
William Berg, Reviewer
PrimeXBT Quick Facts
| Bonus Offer | $100 Deposit Bonus |
|---|---|
| GBPUSD Spread | Variable |
| EURUSD Spread | 0.1 |
| EURGBP Spread | Variable |
| Total Assets | 45+ |
| Leverage | 1:1000 |
| Platforms | Own |
| Account Currencies | USD, EUR, GBP |
Pros
- The web platform and app were built for technical traders with advanced charting features, a customizable layout and multiple order types including one-cancels-the-other (OCO).
- Ultra-fast execution speeds, averaging 7.12ms, make PrimeXBT an excellent option for day traders looking to secure the best prices in volatile markets.
- 24/7 customer support, available via live chat, proved excellent during testing, while the extensive help centre is perfect for self-help.
Cons
- While common in the crypto industry, PrimeXBT lacks authorization from a trusted regulator, seriously elevating the risk for retail traders.
- The lack of integration with established platforms like MT4 will be limiting for traders familiar with the world’s most popular forex trading software.
- Despite improvements, the selection of around 100+ instruments still seriously trails competitors, notably OKX with its 400+ assets.
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 fast execution speeds for experienced day traders."
IG Quick Facts
| GBPUSD Spread | 0.9 |
|---|---|
| EURUSD Spread | 0.8 |
| EURGBP Spread | 0.9 |
| Total Assets | 80+ |
| Leverage | 1:30 (Retail), 1:222 (Pro) |
| Platforms | Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Pros
- IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis.
- 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 recently added US-listed futures and options, providing ample diversification opportunities.
Cons
- IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors.
- 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.
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
FxPro
"FxPro is a stellar option for day traders, sporting exceptionally fast execution speeds under 12ms, competitive fees that were lowered in 2022, and terrific charting platforms in MT4, MT5, cTrader and FxPro Edge."
FxPro Quick Facts
| GBPUSD Spread | 0.6 |
|---|---|
| EURUSD Spread | 0.45 |
| EURGBP Spread | 0.73 |
| Total Assets | 70+ |
| Leverage | 1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited) |
| Platforms | FxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade |
| Account Currencies | USD, EUR, GBP, AUD, JPY, ZAR, CHF, PLN |
Pros
- FxPro operates under a 'No Dealing Desk' (NDD) model, ensuring fast and transparent order execution, often under 12 milliseconds, ideal for short-term trading strategies.
- FxPro offers four reliable charting platforms, notably the intuitive FxPro Edge, with over 50 indicators, 7 chart types and 15 chart timeframes.
- FxPro's Wallet is a standout feature that allows traders to manage funds securely. By segregating unused funds from active trading accounts, the Wallet provides additional protection and convenience.
Cons
- While FxPro provides 24/5 customer support through multiple channels that performed well during testing, it lacks 24/7 availability, which can disadvantage traders needing assistance outside traditional market hours.
- Despite a growing Knowledge Hub and a $10M funded demo account, FxPro is geared towards advanced traders, with beginners potentially finding the account and fee structure complex.
- There are no passive investment tools like copy trading or interest paid on cash. While active traders may not miss these, competitors like eToro catering to active and passive investors have more comprehensive offerings.
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. "
CMC Markets Quick Facts
| GBPUSD Spread | 0.9 |
|---|---|
| EURUSD Spread | 0.7 |
| EURGBP Spread | 1.1 |
| Total Assets | 300+ |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Platforms | Web, MT4 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN |
Pros
- CMC Markets is heavily regulated by reputable financial authorities and maintains its stellar reputation, helping to ensure a secure and trustworthy trading environment.
- 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.
- The brokerage continues to stand out with its wide range of value-add resources, including pattern recognition scanners, webinars, tutorials, news feeds, and research from respected sources like Morningstar.
Cons
- The CMC Markets app offers the complete trading package but the design and user experience trails category leaders like eToro.
- Despite improvements, the web platform still requires enhancements to make it as intuitive to trade on as software from rivals like IG.
- Trading stock CFDs incurs a relatively high commission, especially compared to the cheapest brokers like IC Markets.
How We Chose The Best Forex Brokers In Germany
To list the top forex trading platforms in Germany, we started by identifying platforms that offer currency-related trading products and accept German investors from our database of 216 providers.
We then ranked these platforms by their ratings, which are based on hands-on evaluations, conducted by our active traders and experts, encompassing over 200 data points and focusing on key areas, including those below.
Trust
We’ve only recommended forex brokers we trust after carefully assessing their:
- Regulatory credentials: We confirmed they are regulated by BaFin, Germany’s Federal Financial Supervisory Authority, or other reputable European regulators in line with DayTrading.com’s Regulation & Trust Rating.
- Years of experience: We verified that they have a proven multiyear track record in providing forex trading services, with some like Pepperstone, winner of DayTrading.com’s ‘Best Forex Broker’ award – recognized for their consistent excellence.
- Expert opinions: We ensured they have the earned trust of our experts, which include active forex traders and broker analysts with over a decade in the industry.
- IG has topped our Regulation & Trust chart for years with a near-perfect 4.9/5 score. This reflects the firm’s sterling reputation over 50 years, as well as its fleet of licenses from top regulators including BaFin.
Currency Pairs
We see the range of forex pairs as an important factor when selecting a broker.
We place special emphasis on euro pairs for German traders, since majors like EUR/USD through to exotics like EUR/TRY can provide diverse opportunities for active traders.
In fact, the euro, the currency of Germany and the entire Eurozone, is the world’s second most traded currency after the US dollar (USD) and is involved in more than 16% of all FX trades.
- FOREX.com lives up to its name with its superb range of 80+ currency pairs, including 20+ containing the EUR. It also stands out for its useful tools, notably the currency converter and margin pip calculator.
Pricing
For day traders in Germany, selecting a forex broker with competitive pricing is crucial, as frequent costs from many short-term trades can significantly impact profit margins.
We regularly assess brokers’ spreads on popular currency pairs, notably the EUR/USD and EUR/GBP, evaluating both minimum and average spreads where possible, as well as any commissions and non-trading fees.
We balance these cost assessments with the broker’s overall offerings, from educational resources for beginners to sophisticated tools that provide insights into European Central Bank decisions and other economic factors impacting currency prices. This approach helps us identify forex providers that deliver the best overall value.
I recommend that German traders consider a broker with a EUR account. This can help reduce conversion costs and ensure a seamless user experience. Thankfully, many of the forex platforms that we’ve tested offer this flexibility.
- Pepperstone’s fee structure stands out with spreads from 0.1 pips on EUR/USD in its Razor account with a $3 per lot per side commission and no minimum deposit. It also slashed its forex spreads in 2021 and now offers rebates of 25%+ through its Active Trader program.
Charting Platforms
We prioritize forex platforms that combine user-friendly design with robust features, particularly if you need advanced charting for day trading.
While MetaTrader 4 has dominated the forex industry for years, more traders are turning to modern platforms like TradingView, which offer comprehensive tools such as forex heatmaps, market forecasts, and extensive indicators.
These newer platforms provide a more intuitive experience, addressing the design and usability limitations that MetaTrader users often find frustrating.
With over half of forex traders now using mobile devices, German brokers are also enhancing their forex apps to deliver a seamless trading experience. Many apps now include mobile-optimized charting, built-in research tools, and responsive in-app support to meet traders’ needs on the go.
For me, a broker’s in-house software can often be the quickest and most accessible way to check out their forex offering as it is usually designed to showcase the available markets and includes important features such as research tools built into the interface.This makes proprietary platforms a good option, especially for beginners who want to dive into trading currencies online promptly.
- Eightcap remains a go-to options thanks to its first-rate integration with TradingView. This also combines tools like Capitalise.ai, giving traders without coding knowledge access to cutting-edge auto-trading techniques.
Account Funding
We look for forex trading platforms that offer inclusive account options with fast and affordable funding methods. This includes popular, German-based solutions like Giropay and Sofort.
A low minimum deposit also allows you to start trading currencies without committing hundreds of euros upfront, and providers are increasingly allowing traders to get started with no minimum investment.
- Axi is an FX broker we love for German traders, sporting no minimum deposit, a EUR account and convenient deposits and withdrawals in Giropay and Sofort, alongside other e-wallets, bank cards and wire transfers.
FAQ
Who Regulates Forex Brokers In Germany?
To offer forex trading services in Germany, online brokers should be licensed by the Federal Financial Supervisory Authority (BaFin).
In line with the region’s passporting regime, forex brokers can also operate in Germany if they are authorized by other EU financial regulators.
Which Is The Best Forex Trading Platform In Germany?
The best forex trading platform for German traders will depend on your specific needs, as well as your experience level and budget.
DayTrading.com’s selection of the top forex brokers for German traders is a fantastic place to start, with providers suitable for traders at every level.
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