Trading forex (currencies) in Germany is popular among residents. While recommended, forex brokers are not required to become authorised by the Federal Financial Supervisory Authority (BaFin) to accept residents of Germany as customers.

The Federal Financial Supervisory Authority is the financial regulatory body in Germany. Website: https://www.bafin.de.

BaFin was established in 2002 when three supervisory agencies merged to create one agency to oversee banks, credit institutions, insurance companies, financial service companies, brokers and stock exchanges. For a historical breakdown, here’s a link to the Federal Financial Supervisory Authority webpage on Wikipedia.

Best Forex Brokers For Germany

To find the best forex brokers in Germany, we created a list of all brokers that list Germany as a country they accept new customers from. We then ranked brokers by their Overall ranking.

Here is our list of the best forex brokers for Germany:

Plus500

General Info

• Min Deposit: $100
• Max Leverage: 30:1
• Platforms: Plus500 app, Webtrader
• Inactivity Fee: Yes

Average Spread

• EURUSD: 1.3
• USDJPY: 1.7
• GBPUSD: 2.0
• GOLD: 0.3

XTB

General Info

• Min Deposit: $0
• Max Leverage: 500:1
• Platforms: xStation 5, MT4
• Inactivity Fee: No

Average Spread

• EURUSD: 0.9
• USDJPY: 1.5
• GBPUSD: 1.5
• GOLD: 0.3

ActivTrades

General Info

• Min Deposit: $10
• Max Leverage: 200:1
• Platforms: MT4/5, TVC, ActivTrader
• Inactivity Fee: Yes

Average Spread

• EURUSD: 1.5
• USDJPY: 1.7
• GBPUSD: 1.6
• GOLD: 0.4

IG

General Info

• Min Deposit: $450
• Max Leverage: 30:1
• Platforms: MT4, IG app, Webtrader
• Inactivity Fee: Yes

Average Spread

• EURUSD: 0.7
• USDJPY: 1.1
• GBPUSD: 1.0
• GOLD: 0.4

Pepperstone

General Info

• Min Deposit: $0
• Max Leverage: 30:1
• Platforms: MT4/5, TVC, cTrader, Mobile app
• Inactivity Fee: No

Average Spread

• EURUSD: 1.0
• USDJPY: 1.2
• GBPUSD: 1.3
• GOLD: 0.2

FOREX.com

General Info

• Min Deposit: $100
• Max Leverage: 400:1
• Platforms: Mobile App, Webtrader, MT4, MT5, TVC
• Inactivity Fee: Yes

Average Spread

• EURUSD: 1.3
• USDJPY: 1.5
• GBPUSD: 1.4
• GOLD: 0.65

How to Verify BaFin Authorisation

To identify if a forex broker is authorised by BaFin, the first step is to identify the BaFin registration number from the disclosure text at the bottom of the broker’s homepage. For example, here’s the key disclosure text from IG’s website,

IG Markets Ltd. is authorized and regulated by the Financial Conduct Authority (FCA Registry Number 195355). The IG Europe GmbH is supervised by the Federal Financial Supervisory Authority (BaFin registration number 148759) and the German Central Bank. IG is a brand name of IG Markets Ltd.

Next, look up the registration number on the financial register available on BaFin’s website to validate that the broker is currently authorized in Germany