Best CFD brokers in Germany in 2023

While many online CFD brokers and trading platforms catering to German investors offer an excellent service, the ones in our toplist go the extra mile.

Popularity of the best CFD brokers in Germany

Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.

How much you have to pay for a trade in spreads, commission and other trading costs is a key broker selection criteria. See the most important CFD costs in the table below for key assets.

If you are unsure how brokerage fees work, check out this article on the various fees, charges and costs.

Service or non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.

Check out what types of CFDs you can trade at the best CFD brokers and CFD trading platforms.

CFD trading in Germany is overseen by the Federal Financial Supervisory Authority (BaFin), which has put in place one of the strictest retail market regulations in the world.

The regulator prohibited the marketing, distribution and sale of CFDs with an additional payments obligation and laid out regulations regarding maximum permissible leverage, negative balance protection, restrictions on the incentives offered to trade CFDs and a requirement for risk warnings.

Retail investors may only be offered CFDs with the following leverage limits:

• 30:1 for CFDs on currency pairs with US dollars, euros, Japanese yen, pound sterling, Canadian dollar or Swiss franc as the underlying asset
• 20:1 for CFDs on all other currency pairs, selected standard indices (DAX30, EURO STOXX 50 etc.), and gold
• 10:1 for CFDs on all other commodities excluding gold and all other equity indices
• 2:1 for CFDs on cryptocurrencies
• 5:1 for CFDs on shares and all other CFDs.

Brokers and trading platforms offering CFDs must:

• ensure that CFDs are automatically closed in the event of significant negative price performance. This protective mechanism takes effect when the value of a CFD equals less than half of the investor’s initial margin (margin close-out rule);
• guarantee that investors cannot lose more than the value of their initial margin (negative balance protection);
• expressly state how many private customers lose money with the products (risk warnings).

The authority has repeatedly stressed that traders should pay close attention to the origin of the broker or trading platform they use for CFD trades. Even if a website is written in German and provides German telephone numbers for contacting the provider, this does not automatically mean that the company is based in Germany. Some providers may give the impression of being a German company or a company based in Germany, when in fact they do not have permission to do business on the German market. Check out BrokerChooser's list of not recommended brokers, which details some of the brokerages that our experts found not to be good options.

Any profits made from trading CFDs are subject to tax in the same way as profits from other investment transactions such as shares or funds. For tax purposes, CFDs are treated as futures transactions and are therefore subject to the final withholding tax, which has a flat rate of 25% plus church tax and solidarity surcharge, as applicable.

German brokers will automatically withhold the tax and pay it directly to the tax office. In the case of foreign brokers, the investor must take care of reporting and paying the taxes to the responsible tax office.

According to the latest tax law, German investors are allowed to offset losses from derivatives transactions up to only €20,000 per year. Losses that have not been offset can be carried over to subsequent years, whereby the limitation on the amount still applies

And now, let's see the top CFD brokers in Germany one by one, starting with the winner, XTB.

XTB is a global CFD broker with headquarters in London and Warsaw, founded in 2002. The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority (FCA). In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to regularly disclose its financials.

XTB is considered safe because it has a long track record, is listed on a stock exchange and publishes its financial statements transparently.

HEADS UP: Recent feedback about deposit and withdrawal – The details of depositing by wire transfer might be unclear for some of our users according to recent feedback we received. If you have problems, head to the 'Deposit and withdrawal' section of the review, where we explain how to make a free wire deposit to your XTB account under the section's 'Deposit and fees and options' heading.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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81% of retail CFD accounts lose money

eToro is a well-known Israeli fintech company and a social trading broker, established in 2007.

Check out our eToro review tailored to the needs of beginner investors and traders.

eToro serves UK clients through a unit regulated by the Financial Conduct Authority (FCA) and Australians through an Australian Securities and Investment Commission (ASIC)-regulated entity. All other customers are served by a Cypriot unit that is regulated by the Cyprus Securities and Exchange Commission (CySEC).

eToro is not listed on any stock exchange, does not disclose its annual report on its website and does not have a bank parent.

Being regulated by the top-tier FCA and ASIC is a good sign for eToro's safety.

HEADS UP: Minimum deposit based on residency and account activation – Be sure to check the minimum deposit that is required to activate your account. After uploading your documents, a deposit is also needed in order to make trades. The amount of the deposit required is based on your residency, and ranges from $10 to $10,000. More details are available in the review’s Account opening section.

eToro USA LCC does not offer CFDs, only real Crypto assets available.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Your capital is at risk. Other fees apply. For more information, visit eToro.

Capital.com is a global CFD broker founded in 2016. It has offices located in the United Kingdom, Cyprus, Australia, Seychelles and Gibraltar, where each is authorized and regulated locally by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the Financial Services Authority of Seychelles (FSA), respectively.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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84% of retail CFD accounts lose money

Admirals (Admiral Markets) is a Global forex and CFD broker founded in 2001. It is overseen by multiple regulators in the various regions it serves. These regulators are the UK's Financial Conduct Authority (FCA), the Estonian Financial Supervision Authority (EFSA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investment Commission (ASIC) and the Jordan Securities Commission (JSC). Of these, the FCA and the ASIC are top-tier financial authorities.

Admirals is considered safe because it has a long track record, discloses its financials, and its parent company, the Admirals Group is listed on a stock exchange.

Admirals was formerly called Admiral Markets, but it is currently going trough a rebranding process. This should be of no concern to clients, as this doesn't affect the broker's services in any negative way.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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80% of retail CFD accounts lose money

Plus500 is a London Stock Exchange-listed global CFD broker that was founded in 2008 in Israel. It is regulated by several international financial authorities, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

Plus500 has three different platfroms, Plus500 CFD, where you can trade CFDs, Plus500 Invest, where you can trade stocks and Trade Sniper, where you can trade futures. Trade Sniper is only available for US citizens.

Being listed on a stock exchange, regulated by several top-tier financial authorities, and disclosing its financials publicly are all good signs for Plus500's reliability.

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86% of retail CFD accounts lose money

IG, established in the UK in 1974, is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the UK's Financial Conduct Authority (FCA) and Germany's Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.

IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.

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75% of retail CFD accounts lose money

Spreadex is a global CFD and forex broker founded in 1999. It is regulated by the top-tier UK Financial Conduct Authority (FCA). The company also operates a separate sports betting service.

Spreadex is considered safe because it has a long track record and is regulated by a top-tier financial authority.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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64% of retail CFD accounts lose money

Trading 212 is onboarding clients without a waiting list from the EEA region only. Customers from other eligible countries can join Trading 212's waiting list, but it may take a while until onboarding restrictions are lifted and the waiting list is scrapped.

Trading 212 is a global CFD broker, but clients can also trade stocks and ETFs free of charge. The company was founded in 2004 and is now headquartered in London. Trading 212 is regulated by the UK Financial Conduct Authority (FCA), the Cypriot Cyprus Securities and Exchange Commission (CySEC), and the Bulgarian Financial Supervision Commission (FSC).

Check out our Trading 212 review tailored to the needs of beginner investors and traders.

Trading 212 is considered safe as it is regulated by the top-tier FCA.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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68% of retail CFD accounts lose money

ActivTrades is a global forex broker founded in 2001. It is regulated among others by the UK's Financial Conduct Authority (FCA) and the Commission de Surveillance du Secteur Financier (CSSF) of Luxembourg.

ActivTrades having a long track record and being regulated by the FCA, a top-tier financial authority, are all good signs for its safety.

ActivTrades operates both UK and EU websites (under the co.uk and .eu domains), as well as an international one (.com). Some products, fees and conditions may differ depending on the entity concerned.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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74-85% of retail CFD accounts lose money

CMC Markets is a global CFD and forex broker, founded in 1989. It is regulated by several authorities globally, including the top-tier UK Financial Conduct Authority (FCA). The company is also listed on the London Stock Exchange.

Having a long track record, being listed on a stock exchange and being regulated by top-tier authorities are great signs for CMC Markets' reliability.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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76% of retail CFD accounts lose money

Answer a few questions and get a personalized broker list!

• We checked whether the broker is regulated by a trusted regulator,
• Compared fees (including spreads, withdrawal fee, commission),
• Specifically compared CFD fees,
• Checked minimum deposit requirements,
• Looked at the range of CFDs available,
• Opened an account and tested the platform (charting, features, usability) with real money.

BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education, and trading platforms. We check more than 500 criteria for each broker and finetune our methodology every year based on our own and our users' experiences. We have more than 100 brokers reviewed on our site and our team of analysts examines more than 50,000 data points overall.

What is CFD trading?

CFDs, short for Contracts for Difference, are derivative products used to speculate on the price movements of a wide range of underlying assets. A CFD is a contract between two parties under which the seller pays the buyer the difference between the current value of an asset and its value at the time the contract is due.

When trading CFDs, you speculate on whether the price of a financial asset (i.e. stock, bond, commodity, etc.) will go up or down, without actually buying the asset itself. Instead of buying a Vodafone stock, at a CFD broker you will bet on the direction you think the Vodafone stock will go. If your bet is right, you will make profit on your CFD trade.

CFDs are leveraged products meaning that you trade with your own money and the money you borrow from your broker. This makes CFD trading extremely risky and not suitable for beginners. A very high percentage of retail traders lose money when trading CFDs.

CFD trading is illegal in the U.S. However, if you open an account at a European broker, you will be able to trade CFDs on U.S. assets.

To better understand CFDs and the risk involved, read this article on CFD trading tips compiled by our team of experts.

Is CFD trading legal in Germany?

CFD trading is fully legal in Germany, but the market is heavily regulated. BaFin, the country’s financial markets supervisor, prohibited CFDs with an additional payments obligation. Brokers and trading platforms offering CFDs are required to limit leverage on CFDs and the leverage varies between 30:1 and 2:1, depending on the underlying asset. All German investors trading CFDs are entitled to negative balance protection and the regulator requires that the margin close-out rule is enforced.

Do I pay taxes on CFD profits in Germany?

Under German tax regulations, any profit from CFD trading is subject to the final withholding tax. The effective tax rate that applies to German retail CFD traders is just above 26%. Losses from derivatives transactions can be offset up to only €20,000 per tax year.

Which are the best CFD brokers in Germany?

These are the top CFD brokers in Germany in 2023:

1. XTB - Commission-free stocks/ETFs for some. Free and fast deposit and withdrawal. Easy and fast account opening.
2. eToro - Free stock and ETF trading. Seamless account opening. Social trading.
3. Capital.com - Low forex CFD fees. Great account opening experience. Excellent email and chat support.
4. Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
5. Plus500 - Easy-to-use platform. Great account opening. Quick and helpful customer support.
6. IG - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
7. Spreadex - Low forex fees. Good web platform. Helpful customer service.
8. Trading 212 - Real stocks and ETFs are commission-free. Quick and easy account opening. Great trading platforms.
9. ActivTrades - Low trading fees. Excellent account opening. Free deposit and withdrawal.
10. CMC Markets - Low forex fees. Great web and mobile platforms. Advanced research and educational tools.