Best forex brokers in Germany

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Germany is a major hub for the forex industry – according to the latest statistics over 20% of all forex transactions, globally, happen there.

The forex and CFD trade in the country is overseen and regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht or BaFin, which also operates under the Markets in Financial Instruments Directive (MiFID) that unites all European regulated bodies under a uniform code of conduct.

That means a broker might get a license from any regulatory authority of the 28 European Union countries and offer its services in Germany after a formal registration with BaFin, but without having to set an office in the country.

In order to obtain a license by BaFin, a broker have to follow certain rules, among which to provide negative balance protection to its customers, to maintain at all times at least 730 000 EUR ready to cover any operational expenses, to keep all clients funds in a segregated, protected from creditors account and to offer leverage no higher than 30:1 with forex transactions and 20:1 with other CFD trades.

And although those rules are common with all regulators throughout EU, because BaFin has somewhat stricter guidelines, many European brokers prefer to get their licenses from the Cyprus Securities and Exchange Commission (CySEC) or the Financial Conduct Authority (FCA) in the UK, where the licensing procedure is more simple.

That makes the few brokers, that have acquired their licenses form BaFin even more respected and reliable, not to mention that BaFin is very proactive, when it comes to investigating financial crimes and broker frauds.

Most brokers in Germany accept payments with major credit or debit cards like VISA and MasterCard, popular e-wallets like Neteller, Skrill and PayPal, as well as SOFORT – a real-time online banking payment service available to customers who have a bank account in Germany, Austria, Belgium or the Netherlands.

Apart form BaFin the other major financial regulator in the Bundesrepublik is the Deutsche Bundesbank – the central bank of the country. However, as Germany is part of the Eurozone, and the European Central Bank (ECB) takes direct responsibility for the currency and the stability of the financial system, the Deutsche Bundesbank primary objective is to maintain price stability and act as an integral part of the European System of Central Banks (ESCB).

Forex news from Germany

BaFin Mandates Improvement of Coinbase’s Internal Organization

Deficiencies in Coinbase’s annual crypto finances audit statements have become the reason for BaFin to order Coinbase to provide a “proper business

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Bank of America Fined by BaFin for Not Reporting Voting Right Notifications in Time

The German financial regulator BaFin has issued a hefty financial penalty to the Bank of America, a multinational banking institution of great

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Germany: Local Political Parties Appeal for Crypto and Blockchain Regulations

A total of three separate German political parties have issued a proposal to greatly regulate the blockchain industry, and crypto derivatives as

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BaFin to Boost Market Supervision

BaFin, the German financial regulator revealed that it is planning on increasing its supervision capabilities. The new Head of the Federal Financial

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Binary Options Trading Fraud Raids in Bulgaria Lead to €30 Million Seizure

A major raid operation in connection to a binary options trading scam was conducted in Bulgaria by the local authorities. The official

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German and Kosovo Police Shut Down Investment Scam Operation

Recent reports state that the German police recently arrested a total of 18 people in the Republic of Kosovo. The charges are

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More Responsibility to BaFIN Amid Wisecard Scandal?

The financial world’s focus on the current Wirecard scandal plus the waves of controversy caused by it, has compelled Germany’s finance minister

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Crypto companies in Germany will need BaFin license

All crypto businesses in Germany will have to acquire a Federal Financial Supervisory Authority (BaFin) license starting from 2020. The new rules

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BaFin adopts permanent CFD rules

The Federal Financial Supervisory Authority of Germany (BaFin) announced earlier today that it will permanently apply the European Securities and Markets Authority

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Bundesbank warns against Libra

Crypto coins like Libra – the Facebook Inc.’s newly proposed digital token, deserve special attention by central banks and supervisors, Bundesbank said

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BaFin blacklists Wise Banc

The financial regulatory authority in the Bundesrepublik (BaFin) blacklisted Wise Banc, operated by Orion Service EOOD, which according to the official statement

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Germany’s BaFin warns against marijuana brokers

The financial regulator in Germany BaFin has issued a warning against a company by the name “Cannabis Trader” urging traders not to

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Germany’s BaFin warns against Euro Wealth OÜ

The Federal Financial Supervisory Authority in Germany. Also known as BaFin blacklisted yet another potentially scam company – the Estonian Euro Wealth

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Germany’s BaFin warns against “recovery agencies” scams

The Federal Financial Supervisory Authority (BaFin) warns of fake “recovery agencies”, contacting victims of forex and binary options scams, with offers to

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Germany’s BaFin bans BP1 LP, Gum Ltd and Pairs Ltd

The financial regulator in Germany, the Federal Financial Supervisory Authority (BaFin), ordered BP1 LP, Gum Ltd. and Pairs Ltd., the companies behind

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