|USA||/5||$250||Click for a special offerWebsite|
|US||/5||$50||Click for a special offerWebsite|
|UK, Cyprus, Belize||/5||$5||Click for a special offerWebsite|
|Australia, Cyprus||/5||$100||Click for a special offerWebsite|
|UK, Australia||/5||$50||Click for a special offerWebsite|
|Cyprus, SVG||/5||$100||Click for a special offerWebsite|
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
A major raid operation in connection to a binary options trading scam was conducted in Bulgaria by the local authorities. The official
Recent reports state that the German police recently arrested a total of 18 people in the Republic of Kosovo. The charges are
The financial world’s focus on the current Wirecard scandal plus the waves of controversy caused by it, has compelled Germany’s finance minister
All crypto businesses in Germany will have to acquire a Federal Financial Supervisory Authority (BaFin) license starting from 2020. The new rules
The Federal Financial Supervisory Authority of Germany (BaFin) announced earlier today that it will permanently apply the European Securities and Markets Authority
Crypto coins like Libra – the Facebook Inc.’s newly proposed digital token, deserve special attention by central banks and supervisors, Bundesbank said
The financial regulatory authority in the Bundesrepublik (BaFin) blacklisted Wise Banc, operated by Orion Service EOOD, which according to the official statement
The financial regulator in Germany BaFin has issued a warning against a company by the name “Cannabis Trader” urging traders not to
The Federal Financial Supervisory Authority in Germany. Also known as BaFin blacklisted yet another potentially scam company – the Estonian Euro Wealth
The Federal Financial Supervisory Authority (BaFin) warns of fake “recovery agencies”, contacting victims of forex and binary options scams, with offers to
The financial regulator in Germany, the Federal Financial Supervisory Authority (BaFin), ordered BP1 LP, Gum Ltd. and Pairs Ltd., the companies behind