Based on our extensive research, our team of investing experts has put together this list of the best online brokers in Germany.
Which online broker in Germany is the best for you?
- Interactive Brokers
|Broker||Official site||Quality Score||Regulation||EURUSD forex spread||Min. deposit||FX Trading Platforms||Review|
77% of CFD retail investor accounts lose money.
|99%||BaFin Germany||1 Pips||50€||CopyTrader™||Review|
73.5% of CFD retail investor accounts lose money.
|99%||BaFin Germany||0.17 Pips||1€||TradingView |
82% of CFD retail investor accounts lose money.
|98%||BaFin Germany||0.8 Pips||5€||xStation||Review|
77% of CFD retail investor accounts lose money.
|98%||BaFin Germany||0.6 Pips||15€||MT4 |
75% of CFD retail investor accounts lose money.
MT4, MT5 Metatrader
Best Online Brokers in Germany, reviewed
#1. eToro – Awarded Top Commision-Free Stock Broker
eToro is the best online broker in Germany in 2023.
eToro known as the social investing platform, is geared towards investors that prefer to trade shares, commodities, cryptocurrencies and also forex pairs. Through its online platform a client has access to over 60 cryptocurrencies that one can choose from, which is a large selection when compared to some other online brokers. The ability to match the moves of other experienced traders is also a great feature. eToro broker aims to revolutionize the process of investing while also educating newcomers, helping them hone their financial skills.
Germans can trade on eToro with over 5000 financial instruments:
- 2800 Real Physical Shares & CFDs (incl. german stocks like VW, BMW etc.) without commision
- 264 ETF Funds
- 60+ Cryptocurrencies (both CFD and without leverage)
- 49 Forex pairs
- 54 Commodities & 250 Indices (incl. german DAX index)
- ✅ Investors can copy popular traders on the trading platform
- ✅ BaFIN regulated german stock broker
- ✅ The minimum deposit amount 100€ is very affordable.
- ✅ eToro’s online trading platform is very easy to use also for beginners
- ✅ Offers crypto-to-crypto trading pairs
- ✅ Mobile trading app can be used on both Android and iOS
- ⛔️ The chat feature of customer service is only available to paid members.
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
#2. XTB – Real stocks & ETFs without Commision
XTB is known industry-wide for being the best german online broker with zero stock commisions and low trading spreads for CFDs.
Not only is placing a trade inexpensive, but they’ve eliminated extraneous costs like wire fees. XTB online brokerage also does not require a minimum deposit for opening a live account, meaning you can hit the ground running as soon as you start. Users have access to an impressive number of markets, including cryptocurrencies, commodities, metals, indices, more than 2000 physical shares, and 46 forex pairs.
- Real Shares: Over 2000 shares from exchanges around the world (Zero Commision)
- Real ETFs: Over 300 Exchange-Traded Funds (Zero Commision)
- 50 Forex currency pairs
- 20 CFD Indices:
- 20 CFD Commodities
- 25 CFD Cryptocurrencies
- ✅ Wide range of financial instruments
- ✅ BaFIN Germany license
- ✅ They consider customer service a top priority, unlike many of their fellow online brokers. They even have a live chat option if you don’t want to wait for a reply to your email.
- ✅ They have a minimum Forex spread of 0.5 plus no commission for standard accounts and 0.1 with a commission for pro accounts.
- ✅ 1€ minimum deposit is required when customers open a live account.
- ✅ Broker is considered to be low-risk and very safe to do business with.
- ✅ XTB offers its customers negative balance protection.
- ✅ When it comes to education, XTB has gone above and beyond by offering free courses for all clients that include articles, videos, and other resources.
- ⛔️ They do not have a guaranteed stop loss.
- ⛔️ Back-testing and automated trading capabilities aren’t offered.
- ⛔️ Non-Forex spread costs are high when compared to other online brokers.
80% of retail investor accounts lose money when trading CFDs with this provider.
Founded in 2010, Pepperstone broker offers support for multiple social copy trading platforms, high-quality research, and an ever-growing range of markets. Pepperstone has also taken advantage of third-party tools to enhance its options, including cTrader and MetaTrader. Investment products they feature include cryptocurrency, social trading or copy trading, CFD trading, and Forex trading.
- ✅ Pepperstone is considered a low-risk, safe broker, regulated by BaFIN.
- ✅ 4 online trading platforms: TradingView, cTrader, MetaTrader MT4 MT5
- ✅ Their selection of tradable markets is constantly expanding.
- ✅ They offer competitive industry pricing.
- ✅ When compared to the industry average, Pepperstone ranks higher when it comes to research.
- ✅ It features over 1200 tradable symbols and 70 Forex pairs.
- ⛔️ Only CFDs, no real physical stocks yet
- ⛔️ They don’t provide any educational quizzes, progress tracking, or interactive courses like some of their competitors.
73,5% of retail investor accounts lose money when trading CFDs with this provider.
Guide To Online Trading in Germany
Now that you know the basics of working with stock brokers in Germany, you can dive into the trading process with these five basic steps.
1. Compare Stock Brokers Before Selecting One
We’ve already compared some top online brokers in this guide, but feel free to keep exploring your options until you find the broker that is best suited to you.
2. Open a Brokerage Account
Once you’ve picked out your perfect broker, you will need to open up that required securities account we talked about earlier. Depending on the broker you choose, they may offer a securities account when you sign up. In other instances, you may need to get one on your own.
No matter what your process looks like, you will need to have a reference account to open a Depot. You can use your regular checking account for this. In addition to serving as a reference account, this account will also be used to transfer money to your new account and to pay capital gains from selling securities.
You may also need to complete a self-assessment or questionnaire from your broker. This will be to assess your experience and your comfort level when it comes to trading and the stock market. This provides some extra security for your broker, who may prevent you from taking part in higher-risk trading if they determine you don’t have enough experience.
3. Verify Your Identity
Once your Depot account application is complete, you’ll need to verify your identity. This can usually be completed digitally through your smartphone or computer. If your ID happens to not be supported, you can always head over to the closest post office to verify your identity.
4. Fund Your Account
Unlike some financial ventures, you don’t need to have a large amount of money up front to work to start stock trading in Germany. Some brokers have minimum amounts as low as 10 Euros, making it easy and affordable for anyone to take part. If your investment strategy is long-term, you may want to consider investing in your future with an ETF savings plan. This will allow you to reap the benefits of compound interest over time, rather than only seeing small gains in your immediate future.
5. Start Trading
With everything else complete, you can begin trading with online brokers in Germany! Simply choose the savings plan, stock, or ETF you’d like to invest in and start working with your preferrable german broker. Take advantage of the educational resources that they may offer, so you can get the best out of your experience, and make sure to look at the beginning of your investment journey as a learning experience.
Which Financial Products Can You Trade with an Online Broker in Germany?
First, let’s take a look at what your options are when it comes to investing. Not all online brokers in Germany offer the same investment possibilities; some are more streamlined, which can result in very competitive prices. On the other hand, companies with more complex international or domestic trading may impose more expensive fees.
Most commonly,brokers in Germany usually offer these financial instruments to Germans:
- ETFs (Exchange Traded Funds)
- Real Stocks for longterm investing
- CFDs on Stocks for trading purposes
- CFDs on Cryptocurrencies
- Real Cryptocurrencies that you can store in cold wallet
- Forex trading
- Derivatives (Options, Futures, Swaps)
When it comes to investing money, and especially investing money online, there will most likely always be some sort of fee involved. These fees don’t have to break the bank, though, so make sure to explore your options before paying more than you need to. When dealing with brokers in Germany, there are two common fees: order placement costs and securities account fees.
1. Order Placement Costs
Most investment options such as ETFs or stocks come with an order fee, which is charged by the broker you’re using. This means that the more active you are when it comes to investing, the more you’ll be charged in placement fees. Some brokers do offer flat rates, which can be cheaper depending on your activity level.
2. Securities Account Fees
To trade or invest in stocks in Germany, you’re required to open a specific account called a Wertpapierkonto, or Depot. This account is similar to a traditional bank account, offering both paid and free versions, depending on what you need. If you opt to go with the paid version, there is usually a per year or per month fee associated.
If you’ve ever wondered about entering the world of stocks and investing in Germany before but haven’t gotten around to it, there’s no time like the present. It’s cheaper and easier than ever to begin your investment journey, whether you’re looking for some quick cash or to fund your retirement. Start small and dream big, and before you know it, you’ll be trading like a pro in no time at all.
Q: Is forex trading legal in Germany ?
Yes forex trading is legal in Germany. You are free to choose whatever broker you want. We recommend to read our guide on best forex brokers in Germany.
Q: How can I buy US Stocks in Germany ?
You must sign up with any regulated International online broker that has access to a stock market in USA. But first of all decide if you really want to buy real US stocks or just CFDs on stocks. Any broker will give you access to CFDs, only a few will allow you to invest in US stocks from Germany.
Q: What is the difference between CFDs and Real Stocks ?
When you buy real shares you buy them under your name. When you buy CFD you buy only derivative but you dont own a stock of a company. You only enter into a contract relationship with your broker. You have no voting rights, no dividend. With CFD you only speculate on the price movements.
Table of Contents