Best Forex brokers in Germany

Best Forex brokers in Germany

Germany is the undisputed leader of the Eurozone. The Federal Financial Services Authority or BaFin oversees all financial institutions, including Forex trading. BaFin is seen as one of the world’s leading regulators. 101investing, Brokereo, IGM FX, T1 Markets, and ABinvesting have been working hard to be counted among the best Forex brokers in Germany. Cost efficiency is a big concern with German investors, and that is where these brokers win. 

101investing 

FXBFI Broker Financial invest Ltd., a limited liability company incorporated in the Republic of Cyprus, trades under the name 101investing. It has been granted the registration number HE351508. The Cyprus Securities and Exchange Commission (the “CySEC”), authorised it to operate as a CIF (Cyprus Investment Firm) with the license number CIF 315/16.

Account Types:

With 101investing, you will find 3 retail trading accounts called silver, gold, and platinum. Each offers its own advantages as to leverage or spreads. Additionally, there’s a professional account for those with proven abilities. Demo accounts help you put yourself to the test so that you may be able to find your level.

SILVER ACCOUNT

  • This suits your needs if you are beginner’s level. 
  • Minimum deposit – $250 ; 
  • Max Leverage – 1:30 ;
  •  Forex spreads – 0.7 onwards ; 
  • More than 250 tradable assets ; 
  • No commission.

GOLD ACCOUNT

This account suits you if you are at the intermediate level. 

  • Forex spreads – 0.5 onwards ; 
  • 25% swap discount ;
  •  Max Leverage – 1:30 ; 
  • More than 350 tradable assets ; 
  • No commissions.

PLATINUM ACCOUNT

If you are at an advanced level, this account is for you. 

  • Forex spread starts from 0.3; 
  • 50% swap discount;
  •  More than 250 tradable assets ; 
  • Max leverage 1:400 ; 
  • No commission.

Besides the provision for a dedicated accounts manager, these accounts permit hedging. In addition to updates and investment news, there’s free VPS on all accounts.

PRO Account

If you qualify as a professional client, you may be eligible for leverage of up to 1:500 on some assets. You could be even permitted a margin rate reduction. This permits a trader to bump up their leverage use in excess of ESMA guidelines impacting retail clients. In order to be considered eligible for the professional category, the client has to satisfy two conditions out of three – 

  • Must own a portfolio in excess of $500,000 (not counting either cash or property ); 
  • Must have had a proven prior record of setting significant sized positions;
  •  Worked in the capacity of a trading/speculation/derivative related professional position.

Tradable Assets:

101investing broker provides CFD trading services on 350+ financial instruments, including products from all market types such as stocks, currency pairs, indices, metals, commodities, and cryptocurrency trading. Note that the company offers complex financial derivatives on these assets and not the actual ownership. The future derivative is useful in earning from both ways, i.e. price up to and down, and can aid to trade assets with any amount.

Commissions & Fees

101investing only charges through spreads and doesn’t have any hidden or extra fee on trades. Further, there is no commission on trades.

Apart from that, there are overnight swap charges and some penalty fee on withdrawals, if not enough or no transactions are made. 

Brokereo 

History: The parent company Concorde Investments (Cyprus) Ltd trades under the brand name ‘Brokereo’. The broker is regulated and licensed by CySEC (license number 189/13; company registration number 300828). The Cyprus Securities and Exchange Commission (CySEC) has granted Brokereo the right to operate as a Cyprus Investment Firm. The broker is headquartered in Cyprus. The address is Pavlou Nirvana 4, Alpha Tower, Office N13, Limassol, Cyprus. 

There are many reasons to appreciate CySEC regulation, not least the following:

  •  Account segregation keeping client and broker operational funds separate; 
  • Negative balance protection making sure you are never in debt to the tune of more than what is in your account; 
  • Customer compensation fund against broker insolvency. 

Such solicitousness for client well-being is close to the heart of the best Forex brokers in Germany. 

Account types

We would advise the beginner trader to avail of the excellent free demo account, which would do away with whatever hesitations the trader might have. The simulated trading will give the trader insight. He will be able to make mistakes while learning, knowing he will not be penalised. Only a lot of virtual money will be on the line. 

  • Naturally, there are live accounts. They have a tiered structure, starting at the customary $250. These three account types are aimed at traders who have attained three different levels. These account types are the following- 
  • Silver; 
  • Gold; 
  • Platinum. 

Silver – 

Meant for beginner traders, the account type requires the minimum deposit amount of Eur 250. Spreads start from 1.0, while the maximum leverage for professional clients is 1:500. Additionally, users can access all 300+ CFDs commission-free. 

Gold

The account type is aimed at experienced traders who are not professionals. There’s an additional 25% swap discount. Spreads from 0.4. Leverage is offered up to 1:500. There’s a dedicated account manager. 

Platinum

This is the account type aimed at professional level traders. The swap discount is 50%. Spreads start from 0.3. 

We should note that retail traders can avail of leverage up to 1:30. However, higher leverages are the preserve of professional traders. 

Moreover, all account types can be used for hedging.

Finally, there’s an account type for proven professionals with impeccable trading credentials. Those wishing to avail of the benefits of this account type must show proof in the following ways (see the following section).

Trading volume 

 Hopeful Pros  

  • Must have documentary proof of having carried out large transactions the previous four quarters, with ten transactions to each quarter; 
  • Market expertise; 
  • Evidence of having worked in the financial sector for at least the past year; 
  • Financial status – their financial portfolio must be in excess of Eur 500,000. 

Commissions & fees

  • The broker does not charge dealer commissions. Rather, it collects money through spreads and overnight swap fees. 
  • Brokereo bid/ask spreads are as low as 0.3, though this could vary across instruments. 

Tradable assets 

Brokereo offers five asset classes –

  • Currency pairs; 
  • Cryptocurrencies; 
  • Commodities; 
  • Shares; 
  • Indices. 

Taken altogether, traders will find assets over 300 that can be traded as CFDs at Brokereo. This aids diversification, ensuring there’s always a good market available to trade.

Concerning spreads – what you see is what you get. Slippage is avoided, thanks to the STP execution model.

Brokereo brings you sophisticated CFD trading, with more than 350 assets and products spread across 6 asset classes. Familiarly, these classes are cryptocurrencies, Forex, Stock, Indices, Metals and Commodities. 

IGM FX

History: IGM FX came into being in 2016. The regulator is the Cyprus Securities and Exchange Commission or CySEC. The latter has authorised the status of the broker as a CFI or Cyprus Investment Firm. IGM FX can therefore offer various services (the legal document is on the broker website). This is made possible by the relevant law – the Investment Services and Activities and the Regulated Market, which has transposed the MiFID 2 into Cypriot law. 

The CIF license number is 309/16. IGM FX is registered as per Cypriot Companies Law (registration number HE346738). 

The firm has put its credentials in place, which, in conjunction with its quality performance, makes it one of Germany’s best Forex brokers. 

What are the Account types that IGM FX offers?

IGM FX has four different kinds of accounts. Beginners can avail of the first three, charting their progress as they ascend levels. The fourth account type is somewhat exclusive, a preserve of the Pros. 

The broker lists no particular requirements as regards the account types. This implies that the same conditions apply to all. The professional accounts are in sync with ESMA and CySEC norms. They feature a reduction in the stop-out level. 

Silver, Gold, Platinum, and VIP are the account types on offer. Benefits are on each level. As the trader moves up the tiers, smaller swap fees, tighter spreads, and perks are associated with higher levels. These will include dedicated account managers and trading signals. 

Silver account 

  • 1:30 leverage (Pro accounts 1:400 ratio); 
  • EUR/USD 2.5 pip spread ; 
  • Crude oil spread $ 0.10.

Gold account 

  • 1:30 leverage (Pro accounts 1:400 ratio);  
  • EUR/USD 2.5 pip spread ; 
  • Crude oil spread $ 0.10; 
  • Videos and webinars. 

Platinum account 

  • 1:30 leverage (Pro accounts 1:400 ratio);
  • EUR/USD 1.8 pip spread ; 
  • Crude oil spread $0.08 ; 
  • Dedicated account manager ; 
  • SMS trading signals. 

VIP accounts 

  • Up to  1:400 ratio; 
  • EUR/USD 0.9 pip spread; 
  • Crude oil $0.06 spread;
  • A dedicated senior account manager. 

Beginners are advised to avail of the demo account, enabling familiarity with IM FX trading platforms and impacting trading conditions. 

What assets can I trade at IGM FX?

  • The broker makes very competitive CFD offerings. IGM FX products are spread across 6 classes.

These include – 

  • Commodities; 
  • Forex; 
  • Indices; 
  • Shares;
  •  Cryptocurrencies; 
  • Metals. 

With individual assets in excess of 160, there’s no dearth of activities. Notable tradable assets include 

  • CFDs on currency pairs in excess of 45, 
  • CFDs on 75 plus global equities, 
  •  Significant indices worldwide, 
  • CFDs on metals and agricultural commodities.

Commissions & fees

EUR/USD minimum spread starts at 2.5 pips. The lowest spreads begin at 0.9 pips. Equity CFD traders can avail of a 0.21 point minimum markup. 

T1 Markets

General Capital Brokers Ltd. trades under the name ‘T1 Markets’. The brokerage is licensed and regulated by CySEC. All the standard CySEC broker features are present here. Though there are mandatory bars on the leverage level permissible for retail clients, there are high leverage levels allowed for professional traders. This is in sync with the FCA and BaFin.

The trading desk type is STP, which enhances transparency. 

The broker has the license number 333/17 and the registration number 345774. 

Given the firm’s high value for your money, it is among the best Forex brokers in Germany. 

Tradable assets

Spread across all asset categories, T1 Markets offers more than 300 individual assets. 

Account types

There are three account types – silver, gold, platinum. The silver account has no free VPS nor ‘fifth decimal’. Otherwise, it shares the feature of the dedicated account manager with the other two account types, as also hedging. Max allowable leverage is 500. 

The application process has 5 steps. Bone up on your trading knowledge before you set out to answer the questionnaire. 

ABinvesting 

Hub Investments Ltd has the trade name ABinvesting. The brokerage is licensed and regulated by the Mauritius Financial Services Commission Authority. The FSC register online has the details. 

Tradable assets 

ABinvesting presents clients with the opportunity to trade in more than 350 individual assets spread across all standard asset classes. 

Account types 

There are three account types – silver, gold, platinum. 

Spreads are progressively advantageous for the trader as he moves from silver to the platinum account. For instance, for the currency pair USD/JPY, spreads in the silver account are from 2.3 pips. In the gold account, the corresponding value is 1.5, while in the platinum account, the value for the forex pair under consideration is 0.8. 

The platinum account carries 50% swap discount, while the preceding account type (gold) has only half that value to offer. 

With a live account, you start trading with Euros 250. While retail clients may avail of 1:30 leverage, professionals can seek up to 1:500 leverage. 

Mobile trading App

The in-house mobile trading app is a great complement to MetaTrader4, which the broker also puts at the clients’ service. 

  • Customisation-friendly trading environment; 
  • One tap trading; 
  • Real-time quotes are readily accessible; 
  • More than 350 assets at your fingertips. 

Conclusion

The best Forex brokers in Germany bring deals that keep trading costs low. It is important that these brokers offer services sans commissions that nibble away at your profits. BaFin recognises their stalwart performance, making the German trading landscape even more global and competitive. 101investing, Brokereo, IGM FX, T1 Markets, and ABinvesting await the chance to aid you to profitability in Forex trading. 

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