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Forex

German Forex Brokers

Known as the strongest economy in the Eurozone, Germany applies strict rules to forex broker firms operating in the country. The body responsible for the regulation and supervision of financial institutions in Germany, ranging from banks, financial services institutions and insurance companies, is the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht), a.k.a. BaFin.

 

Anyone wishing to provide financial services in the country commercially (or on a scale that requires a commercially organized business undertaking) needs written authorization from BaFin. In other words, to operate legitimately in the country, forex brokers must be licensed by BaFinOf course, exceptions apply to undertakings domiciled in another country of the European Economic Area (EEA).

 

The granting of such an authorization by BaFin, or a forex broker license, is subject to a number of conditions. First of all, the company must possess sufficient initial capital, which must be freely available and may not be derived from borrowing. In the case of financial services institutions trading in financial instruments for their own account, the minimum amount required is €730,000. On the other hand, financial services institutions which do not trade in financial instruments for their own account are required to hold at least €125,000.

 

As Germany is a part of the EU, MiFID (Markets in Financial Instruments Directive) regulations apply. All regulated forex brokers are required by law to provide transaction reports to BaFin on a regular basisIn addition, all financial services institutions have to be members of the Ivestment Compensation Scheme, which covers a maximum amount of €20,000 per investor.



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German Forex Brokers

Broker Country Regulation Platforms Min.deposit Review
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Belize IFSC MT4, MT5, Web $1 Review Website
Cyprus CySEC in-house mobile
app
$50 Review Website
UK, Cyprus, Bulgaria FCA, CySec, FSC Web $150 Review
UK, Australia, New Zealand FCA, ASIC, FMA Next Generation $25 Review
Germany BaFin MT4, Web,
FlatTrader
$200 Review
Cyprus CySEC MT4, MT5,
cTrader
$300 Review
Cyprus CySEC MT4, Web $25 Review
Cyprus, Germany CySEC, BaFin MT4, Web $1 Review
Germany BaFin, Bundesbank MT4 Review
Germany None MT4 €500 Review
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