Best Apps for Forex Trading in Germany
The Best Forex Trading App In Germany - RoboForex
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RoboForex - Best overall Forex trading app in Germany
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Tickmill - Best for competitive trading conditions and tight spreads
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FxPro - Best for trading EUR-based paris (17)
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IC Markets - Best for active traders
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MultiBank - Best for diverse global trading opportunities
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Libertex - Best for a user-friendly trading experience
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XM Group - Best for comprehensive trading tools and educational resources
Potential Forex traders should be seeking the best Forex trading app in Germany if they want to remain in the Forex market longer. According to experts, many traders who lost interest and the opportunity to earn passively from Forex trading made the wrong choice of Forex trading app. Trading platforms that streamline these procedures are necessary because Forex trading is somewhat tactical and complex.
A potential trader has a lot to do with a Forex trading app in Germany that offers them copy trading services, demo accounts, managed Forex account options, etc. Although finding such a Forex trading app could be daunting, it is achievable. A trader who knows what to expect from the best Forex trading app will locate these Forex brokers in Germany.
However, this article includes a list of the top Forex trading apps in Germany to make the process simpler for traders. You will know what trading they are best for and what makes them better than their counterparts.
Best Forex Trading Apps in Germany
While traders can legally trade currency pairs in Germany, it is essential and required by law that they trade on reputable Forex platforms. Trading with CFD brokers and local or foreign exchanges is legal if the broker holds a license from BaFin, the nation's federal financial watchdog. The European Economic Area's (EEA) Markets in Financial Instruments Directive (MiFID) allows brokers who hold licenses from other countries to operate there.
The best Forex trading app needs to have enough capital—at least €125,000—to provide trading services. The maximum leverage permitted when trading major currency pairs is 30:1, whereas it is 20:1 when trading minor currency pairs.
Local German Forex traders are the main clients of Forex brokers in Germany. Although some Forex brokers with no BaFin regulation are still able to serve German traders, below are the best Forex trading apps in Germany.
Best Forex Trading Apps 2023
| App | Best For |
|---|---|
Best overall Forex trading app in Germany |
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Best for competitive trading conditions and tight spreads |
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Best for trading EUR |
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Best for active traders |
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Best for diverse global trading opportunities |
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Best for a user-friendly trading experience |
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Best for comprehensive trading tools and educational |
RoboForex - Best overall Forex trading app in Germany
If you are looking for a trustworthy, user-friendly Forex trading app for beginners that does not require users to be experts before using it, RoboForex is the solution. As a top contender among the best Forex trading apps in Germany, traders have nothing to worry about in terms of security. RoboForex is subject to regulation from well-known financial organizations like the FSC, the Cyprus Securities Exchange, and the International Financial Services Commission, both of Belize.
Since its 2009 debut, RoboForex has grown to be a well-known platform for Forex trading, serving financial markets in over 169 nations. There are 5 different account types from which traders can select when opening a demo account.
Key features
Regulation: FSC, IFSC, and CySEC
Minimum deposit: $10
Spread: Floating from 0 pips
Advanced copy-trading system
Integrates MT4, MT5, cTrader, R StockTrader, and WebTrader
Instruments: Forex, index, crypto, and oil CFDs, ETFs, CFDs on European and U.S. stock, and real securities
👍 Pros
• The website is available in German, making it simpler for local traders
• Availability of favorable trading conditions with a low minimum deposit
• Roboforex provides a unique investment program and more than 9,400 trading instruments, CopyFx
• It is designed to satisfy the needs of both novice and experienced traders
👎 Cons
• Traders seeking a fixed spread account might not find it
• Dormant accounts are subject to an inactivity fee
Tickmill - Best for competitive trading conditions and tight spreads
Tickmill is the best Forex trading app in Germany for traders seeking low-cost CFDs and Forex brokers in Germany. It is the best option for beginners, as they can easily open an account, deposit, and start trading due to its fully digital services.
Tickmill is the real deal, offering over 725 trading symbols, including indices, metals, bonds, currency pairs, CFDs, and cryptocurrencies. With their order of services under the watch of top regulators like the Financial Conduct Authority, the broker is among the most reliable Forex brokers in Germany. After its launch in 2014, Tickmill has remained the best Forex trading app for beginners, active traders, and VIP traders.
Key features
Minimum deposit: $100
Trading platform: MT4, MT5, Tickmill Mobile App
For the Classic account, 1.6 pip and 0 pip for the Pro and VIP accounts
Tickmill.EU - to 1:30/1:300 Tickmill.com - to 1:500
Mobile compatibility: iOS, Android
Instruments include currency pairs, commodities market assets, stock indices, stocks, bonds, and cryptocurrencies
👍 Pros
• Tickmill is perfect for traders who want to use arbitrage, EAs, algorithmic trading, scalping, and other strategies
• The availability of educational resources is abundant, and Tickmill has a very low spread
• Account opening is quick, simple, and entirely digital, and traders have access to FIX API
• There is no fee to trade CFDs
👎 Cons
• No offered proprietary trading platform
• The number of tradable assets are limited
FXPro - Best for trading EUR
The third app on the list of the best Forex trading apps in Germany is FxPro. Despite being among the top MetaTrader brokers, this Forex broker offers a tailored FxPro Edge app. The FxPro Edge app offers traders a robust chart and a responsive design.
Additionally, traders can take advantage of comprehensive market updates that can aid in the analysis of trades for different symbols and currency pairs. Since its inception in 2006, FxPro has remained a reliable Forex trading app and is being used in over 173 countries. Potential traders would have a handful of options for using this Forex trading app in Germany, as it provides professional support for experienced and inexperienced traders.
Key features
Regulation: FCA, CySEC
Minimum deposit: $100
17 currency pairs with EUR
Integrates MetaTrader and cTrader platforms
FxPro charges no commissions on most trades
Spread: from 0.1 pips
Instruments: Forex, Spot metals and indices, CFD for Energy, shares, agricultural products, indices, and Crypto
👍 Pros
• Provides real-time news to traders
• FxPro provides live mobile news streaming with crucial breaking news headlines that can affect markets
• FxPro provides a Virtual Private Server (VPS) that can be used to upload and run MetaTrader 4, Expert Advisor, trading bots
• The FxPro Edge platform offers 53 indicators and smooth charting
👎 Cons
• FxPro gives Forex and CFD traders fewer symbol options than the best multi-asset brokers
• Relatively high fees and the need to register for a Demo account
IC Markets - Best for active traders
The best Forex trading app in Germany for traders who are scalping enthusiasts or automated trading lovers is IC Markets. Their advanced social copy-trading features, platform plugins, and educational resources are sufficient to transform a novice into an expert.
With over 3,583 symbols, low-cost, and scalable execution, IC Markets competes with other Forex trading apps in Germany for traders running algorithmic strategies. IC Markets has grown to be a reputable and dependable Forex service since its launch in 2007. They also count among the trading platforms offering traders unrestricted access to the world's financial markets.
Key features
Minimum deposit: $200
Trading platform: MT4, MT5, cTrader
Leverage: From 1:1 to 1:500
Spread: From 0.6 pips for the Standard account, from 0.0 pips for cTrader and Raw Spread accounts
Instruments:Over 60+ currency pairs and 2,100+ stocks, bonds, and cryptocurrencies
👍 Pros
• IC markets give investors access to 2,100+ trading assets and favorable trading conditions
• Traders benefit from low spreads and quick order execution
• Easy access to analytical training resources
• There are options for incorporating trading advisers into your trades
👎 Cons
• Payment delays could occur for traders, and there is no trading on the weekends
• IC Markets does not support an app for proprietary trading
MultiBank - Best for diverse global trading opportunities
MultiBank is among the best Forex trading apps for active and passive traders. Thanks to a broad range of asset classes, MAM/PAMM accounts, and a proprietary copy trading platform, novice traders can benefit from the best possible trading experience.
The fact that MultiBank offers competitive spreads and a fantastic selection of assets from the MT4 and MT5 trading platforms makes it a top app for trading Forex. There are 1042 trading symbols available, including those for gold, oil, shares, and stocks.
Since its founding in 2005, MultiBank has continued to offer traders the best Forex trading experience, and its influence on the financial market is well known. MultiBank is among the largest financial derivatives providers worldwide.
Key features
Minimum deposit: $50
Trading platform: MT4, MT5, WebTrader
Leverage: Up to 1:500
Spread: from 0.0 pips
Instruments: Forex, metals, shares, indices, commodities, and cryptocurrencies
👍 Pros
• More than 11 financial regulators from various jurisdictions oversee the Group
• With floating spreads starting at 0.1 pip, traders can trade using professional ECN accounts
• Opening an account with MultiBank is simple and quick, and traders have different deposit and withdrawal options
• Trade copying services, PAMM accounts, free MAM, EA, VPS, and API are available to traders directly
👎 Cons
• There is not much educational material, and there is not much market research available from the broker
• MultiBank only offers coverage for Forex, CFDs, and cryptocurrencies, and there is an inactivity fee
Libertex - Best for a user-friendly trading experience
The top German Forex trading app ought to be dependable and offer favorable conditions for currency traders. A German trader who wants to experience this type of service should consider trading with a Libertex Forex broker in Germany.
The trading platform's user-friendly layout, substantial informational content, and top-notch technical components contribute to its popularity. With over 11 years in the financial industry, the reliability of the services of this Forex broker in Germany is unquestionable. They have received more than 40 international awards from financial organizations and magazines over the years.
Key features
Regulation: CySEC, FSC
Minimum deposit:100 EUR
Trading platform: MT4, MT5
Leverage: Up to 1:30
Spread: Tight spreads
Commission: from $0
Instruments: +250 CFDs with underlying assets like gold, bitcoin, and cryptocurrencies
👍 Pros
• Libertex charges no fees for deposits and only a few manageable withdrawal fees, which is a very reasonable charge policy
• There is negative balance protection, and the user interface is friendly to new traders
• The Libertex platform functions flawlessly and smoothly in any web browser, is entirely web-based, and does not call for any downloads
• Over 250 CFDs on stocks, precious metals, oil and gas, indices, and cryptocurrencies are available to traders
👎 Cons
• Inactivity fee
• No managed accounts or FIX API trading
XM Group - Best for comprehensive trading tools and educational resources
XM Group is another Forex broker in Germany that traders need to know about, especially if you want to trade Forex and CFDs. According to experts, traders need a multi-regulated broker who can enable traders to open both real and demo accounts if they want to succeed in Forex trading in Germany. A user-friendly trading environment with round-the-clock assistance in several languages is also crucial.
XM offers top-notch trading features and services to its customers. They give customers access to a mobile trading platform made available by MetaTrader 4. Furthermore, it has a good search function and is well-designed. The business has provided intermediary services in the foreign exchange market since its founding in 2009. They are currently well-diversified and a leading global broker active in almost 190 nations.
Key features
Regulation: ASIC, CySEC, IFSC
Minimum deposit: $5
Integrates MT4 and MT5
Leverage: Up to 1:1000 For clients registered with the Group's EU and AU-regulated entities, the maximum leverage is 30:1. (The leverage varies depending on the traded financial instrument)
XM has low stock CFD and withdrawal fees
Spread: Micro, Standard — from 1 pip, XM Ultra Low — from 0.6 pip, XM Zero—$3.5
Instruments: CFDs on shares, stock indices, precious metals, energy products, and cryptocurrencies
👍 Pros
• The platform offers traders negative balance protection
• User-friendly and quick account opening processes
• Many educational resources are available to traders, including webinars and a demo account
• Low withdrawal and CFD fees for stocks
• Incorporated a mobile trading platform with a solid design
👎 Cons
• For clients onboarded outside the EU, there is no investor protection
• Since it focuses primarily on CFDs and Forex trading, XM has a small selection of products
Rules and Regulation
Forex regulation in Germany
BaFin is Germany’s financial regulator. This body issues licenses and monitors compliance by organizations. To obtain a license, there are requirements on the authorized capital, skills of employees, risk management, transparency, and funds storage.
Investor protection
The German Act WpHG protects investors. Germany is a member of MiFID II, which regulates all Forex brokers in the EU. Germany has an EdW Trader Insurance Compensation Fund, which compensates traders in case of broker’s bankruptcy for an amount up to €20,000.
Taxation
Profit from trade is taxed on a progressive scale. If the annual income is up to EUR 25,000, the rate is 15%. If the income is above EUR 25,000, the rate is 25%. Traders pay taxes themselves. Benefits and deductions are possible. Consulting with tax expert is recommended.
How to choose a Forex trading app in Germany?
Many traders trading Forex have beautiful and ugly experiences, as the Forex market is the most liquid and often the most volatile. Traders who choose the best Forex brokers in Germany gain an advantage and may experience fewer issues. And the reason for this is that when choosing the best German Forex trading app, they considered the following:
Inquiring about the safety and regulatory compliance of the Forex trading app is critical. Traders should ensure the brokers they trade with are regulated by authorities like FCA, MAS, ASIC, BaFin, NFA, and CFTC and that they adhere to the law
Research and read previous user reviews; this is another way traders get a quick overview of the broker's trading services
Check out the available margin amounts, leverage, and research options. Discover the minimum spread amounts for some of the most traded Forex pairs
Verify the broker's support for automation tools and the trading platform integrated for each type of account
Verify whether the broker offers a demo account option
How to start trading Forex in Germany?
Below is how a trader can start trading Forex in Germany:
The first step is to choose the best Forex trading app, and this should be a regulated Forex broker
Before opening a real account, open a demo account to practice Forex trading on the broker's Forex trading app
Choose and hone various trading strategies while practicing on the demo account; learn how to use technical indicators
Learn risk management techniques and how to assess a position's risk potential
Fund your real account and place your first trade
What are the best trading apps for beginners in Germany?
The best Forex trading app in Germany should have the following:
Low minimum deposit
Special accounts (such as a cent account or a demo) for beginners
Copy trading tools and quality educational resources
Suitable spreads and reliable leverage options
Quick deposit and withdrawal services and a friendly user interface
However, some of the best Forex brokers in Germany with the features mentioned include RoboForex, Tickmill, IC Markets, and FXPro.
Can I trade with an international Forex broker?
Yes. If they are licensed and accept German customers, traders can trade with any international Forex broker that meets their trading needs.
Do I pay taxes for stock trading in Germany?
LYes, taxes are paid by stock traders in Germany, and they are charged at the standard rate of income tax even though the gains from buying and selling are classified as capital gains. Additionally, they are subject to a 25% capital gains tax. Profits from the sale of stocks or shares constitute all capital gains. German Forex traders are subject to a 25% capital gains tax and a 5.5 percent solidarity surcharge.
FAQs
Can I do Forex trading in Germany?
There are no restrictions on Forex trading in Germany, as trading currency pairs is legal. However, with the right broker, Forex trading in Germany can become a sustainable income stream if you are careful.
Which Forex broker is best in Germany?
RoboForex can provide traders with the needed services for a perfect Forex trading experience. IC Markets, FxPro, and Tickmill are other great options.
Is MT4 available in Germany?
Yes, MT4 is available and offered by most of the top Forex brokers in Germany.
What is the Forex tax in Germany?
The capital gains tax in Germany, which is 25% with a 5.5% solidarity surcharge, is what is known as the currency tax. Under the new tax law for traders, which went into effect in 2024, Forex traders are required to submit an annual summary of all profitable and unsuccessful trades.
Team that worked on the article
Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.
Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).