5 Best Forex Brokers in Germany for Beginners

5 Best Forex Brokers in Germany for Beginners 2021

German people have a favourable interest in trading, especially forex. And, it can be evident from the fact that German forex traders have a significant impact on the total forex volume of the world. While the traders’ number is vast, brokers are also in excess, which further makes it hard to find an excellent, trustworthy trading website in Germany. Moreover, the German administration also doesn’t require any brokerage firm to have a license from the financial body, BaFin (Federal Financial Supervisory Authority). And a firm without any regulation should not be trusted.

Here, in this article, we’ll see the top 5 forex brokers Germany which are providing excellent investment products & services at low-cost prices.

Top 5 German Trading Websites

101investing: 101investing is a Cyprus based trading website, which started its operations in 2016 and is a brand name of FXBFI Broker Financial Invest Ltd. The company is headquartered at address - 13 & 15 Grigori Afxentiou street IDE Ioannou Court, 3rd Floor, Office, 301, 4003 Limassol Cyprus. Further, the organisation also bears licenses from the top financial body, CySEC (Cyprus Securities & Exchange Commission) under regulation number 315/16. Apart from it, some of the other top features of the trading website include 250+ CFD trading assets, segregated three account types, Meta Trader4 trading platform, excellent customer service, impressive content library, and many more.

You can use the broker’s free demo service to test the features.

FXCM: FXCM was started long back in 1999 and is a UK based trading firm. FXCM provides clients investment products and services through CFD & spread betting, with extra features including dedicated account manager, three trading platforms, and different account types. Further, the minimum deposit to start real trading with FXCM, which is a brand name of Leucadia Company, is $50 only.

Trade360: Trade360 is the trademark name of Crowd Tech Ltd, which is a Cyprus regulated and CySEC licensed investing firm. The organisation provides a wide range of six different account types, serving clients from varied expertise. Interestingly, the firm offers Trade360’s own proprietary trading platform along with the widely recognised Meta Trader5, both of which are available via mobile, desktop, and web versions.

HotForex: HF Markets or HotForex are different brand names of HF Markets Group, which is a financial service provider. The trading website holds licenses from various financial bodies including, UK’s FCA, South Africa’s FSCA, Dubai’s DIFC, Europe’s CySEC, Seychelles’ SFSA, and many more. Thus, the broker’s safety can’t be doubted. Furthermore, the firm is also a member of Investors Compensation Funds and provides all its services with three major account types.

Some of the other top features are low spreads, zero commission or hidden charges, 150+ tradable assets, an impressive research library, and free demo account. Note that the maximum leverage available is 1:1000, which is better than the industry average.

Markets.com: MarketsX, or formerly known as Markets.com, is a trademark name of TradeTech Group, which is a part of Playtech PLC, an FTSE listed organisation. The firm holds several licenses of various financial bodies such as FSCA, CySEC, FCA, ASIC, and FSC. MarketsX offers 2200+ financial trading instruments, which covers all the market types in the world, at low-cost prices.

Apart from it, the firm offers Meta Trader4 & Meta Trader5, 24/5 customer support, education page, research tools, and many more services.

The Bottom Line

So, these were the best brokerage platforms Germany for all the novice traders working hard to become professionals. Note that, all the listed brokers are regulated and licensed from top governing bodies and thus, are safe to trade. While some of the trading websites are good for beginners, others might not be suitable for many due to high cost but high services too, which is not demanded much by new traders. In it, 101investing serves novice traders best.