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 BaFin.
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 basis.
| Broker | Country | Regulation | Platforms | Min.deposit | Review |
|
UK, Australia, Singapore | FCA, ASIC, MAS, BaFin | MT4, Web, ProRealTime, 2Dealer |
$0 | Review Website |
|
UK, Australia | FCA, ASIC | MT4, Trading Station, NinjaTrader |
$50 | Review Website |
|
UK, Cyprus | FCA, CySEC | MT4, MT5, FxPro Markets, cTrader |
$100 | Review Website |
|
UK, Cyprus | FCA, CySec | MT4, MT5 | $5 | Review Website |
|
Belize | IFSC | MT4, MT5, Web | $1 | 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 |
Major European forex broker FxPro became the third major forex broker to announce it is temporarily increasing its margin requirements ahead of the German general elections on September 24.
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Leading EU forex broker XM announced it is taking precautions against extreme market volatility, thin market liquidity and abnormal spreads and price gaps around the upcoming general elections in Germany (on September 23) and New Zealand (on September 24).
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Forex.com, one of the retail forex brokerages of Gain Capital, announced it is temporarily increasing the margin requirements on the EUR forex pairs in order to protect its clients from potential market volatility around the upcoming general elections in Germany.
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Forex, CFD and binary options broker Grand Capital announced it has opened an office in Germany, through a local partner.
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The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, a.k.a. BaFin) announced on Monday it introduces certain restrictions to CFD trading in order to safeguard the interests of retail clients.
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