To help you find the best online brokers in 2021, we went ahead and did the research for you. First, we selected 81 quality online brokers, then checked and compared basically every aspect of their offering: fees, available markets and products, trading platforms, deposit and withdrawal options and much much more. To be selected best online broker, service providers had to prove their excellence in multiple areas. We dug deep, so you won't have to.
5 brokers made it to the top in Germany. We highly recommend all 5 to you. And now, without further ado...
The top 5 picks for best international online broker of 2021 for citizens in Germany:
- Interactive Brokers is the best international online broker in 2021. Low trading fees. Wide range of products. Many great research tools.
- Saxo Bank takes second place. Great trading platform. Outstanding research. Broad product portfolio.
- DEGIRO rounds out the top three. One of the lowest fees on the market. Regulated by multiple top-tier authorities. Easy-to-use web and mobile platform.
- TradeStation, numero quattro. Great web and mobile trading platform. Low stock and ETF fees. High-quality educational tools.
- tastyworks just made it to the list at in fifth place. Low trading fees. Great educational materials. Good research tools.
| Broker | Info | Score | Best in | |
|---|---|---|---|---|
| #1 | Interactive Brokers | US discount broker | 4.9 | Best online broker |
| #2 | Saxo Bank | Danish investment bank | 4.8 | Best forex broker |
| #3 | DEGIRO | Dutch discount broker | 4.8 | Best discount broker |
| #4 | TradeStation | US stockbroker | 4.7 | |
| #5 | tastyworks | US options and stockbroker | 4.7 | Best broker for options |
What makes a good online broker? Surely, they need to provide great service in all areas. First of all, they need to offer fair fees and have a good safety score. Opening an account and depositing money should also be user-friendly processes. They need to provide access to a wide range of products and have a great platform.
These features are easy to list, but hard to figure out. We test brokers based on more than ~300 criteria with real accounts and real money. We know what's up. You can find all the ranking criteria in our methodology.
Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country it will show only the relevant brokers. Want more details? Compare brokers with our in-depth comparison table.
And now, let's see the best international online brokers in 2021 for citizens in Germany one by one, starting with the winner, Interactive Brokers.
#1 Best international online brokers for citizens in Germany
Interactive Brokers
Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
As it has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.
Recommended for traders looking for low fees and a professional trading environment
| Pros | Cons |
|---|---|
| • Low trading fees | • Complicated account opening process |
| • Wide range of products | • Complex desktop trading platform |
| • Many great research tools | • High forex fees |
#1 Interactive Brokers
Fees
Interactive Brokers has low trading fees; for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.
| Pros | Cons |
|---|---|
| • Low trading fees | • Inactivity fee |
| • Free stock and ETF trading for US clients | |
| • Low margin rates |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $0.7 | $1.0 | $0.0 |
| UK stock | $7.8 | $10.4 | $2.6 | - | - |
| EURUSD benchmark fee | $8.1 | $7.8 | - | - | - |
| AUDUSD benchmark fee | $8.8 | $7.1 | - | - | - |
| GBPUSD benchmark fee | $8.8 | $6.2 | - | - | - |
| S&P 500 index CFD fee | $2.8 | $1.5 | - | - | - |
| Europe 50 index CFD fee | $3.1 | $2.1 | - | - | - |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#1 Interactive Brokers
Account opening
IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated, and account verification takes relatively long.
| Pros | Cons |
|---|---|
| • Fully digital | • Not user-friendly |
| • No minimum deposit for most account types | • Confusing messages throughout the process |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $10,000 | $0 | $1 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | 1 day | 1 day |
#1 Interactive Brokers
Deposit and withdrawal
Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | |
| • First withdrawal each month free |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#1 Interactive Brokers
Markets and products
Through Interactive Brokers, you can access an extremely wide range of markets, and all product types are available.
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | No | No |
| Fund | Yes | Yes | Yes | Yes | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | No | No | No |
| Crypto | Yes | Yes | Yes | Yes | No |
#1 Interactive Brokers
Web trading platform
Interactive Brokers's web platform is simple and easy to use, even for beginners. On the negative side, it is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Web platform score | 4.5 stars | 5.0 stars | 4.0 stars | 4.5 stars | 3.4 stars |
| Mobile platform score | 3.8 stars | 5.0 stars | 4.5 stars | 4.8 stars | 4.2 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | - | 2.5 stars | 3.9 stars |
#1 Interactive Brokers
Verdict
Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker mainly for advanced traders.
On the plus side, IB has low fees, a vast range of available markets and products, and diverse research tools.
There are some drawbacks, though: there is a high forex fees, and the account opening process is complicated. The desktop platform is complex and hard to get a handle on, especially for beginners.
If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers could be a great fit for you.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC. |
| Fees score | 4.2 stars |
| Recommended for | Traders looking for low fees and a professional trading environment |
#2 Best international online brokers for citizens in Germany
Saxo Bank
Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA).
Saxo Bank is a global service provider and its subsidiaries are present in the form of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Bank UK.
Saxo Bank is considered safe because it has a long track record, a banking background and is regulated by top-tier financial authorities.
Recommended for investors and traders looking for a great trading platform and solid research
| Pros | Cons |
|---|---|
| • Great trading platform | • High bond, options and futures fees |
| • Outstanding research | • High minimum deposit |
| • Broad product portfolio | • Lacks live chat and 24/7 availability |
#2 Saxo Bank
Fees
Saxo Bank has average trading and non-trading fees overall. Trading fees vary greatly between different asset classes.
| Pros | Cons |
|---|---|
| • Low forex fees | • Inactivity fee |
| • Low fund fees | • High bond, options and futures fees |
| • No withdrawal fee |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $0.7 | $1.0 | $0.0 |
| UK stock | $7.8 | $10.4 | $2.6 | - | - |
| EURUSD benchmark fee | $8.1 | $7.8 | - | - | - |
| AUDUSD benchmark fee | $8.8 | $7.1 | - | - | - |
| GBPUSD benchmark fee | $8.8 | $6.2 | - | - | - |
| S&P 500 index CFD fee | $2.8 | $1.5 | - | - | - |
| Europe 50 index CFD fee | $3.1 | $2.1 | - | - | - |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#2 Saxo Bank
Account opening
Saxo's account opening is fully digital, user-friendly and available in most countries. On the other hand, the minimum deposit is high in certain countries and account verification can take longer.
| Pros | Cons |
|---|---|
| • Fully digital | • Minimum deposit is high in certain countries |
| • User-friendly | • Slow account verification |
| • Available in almost every country |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $10,000 | $0 | $1 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | 1 day | 1 day |
#2 Saxo Bank
Deposit and withdrawal
Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Electronic wallets not available for deposit or withdrawal |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#2 Saxo Bank
Markets and products
Saxo Bank's product portfolio covers all asset classes and a lot of markets globally. Mutual funds and crypto are the only areas where the selection could be improved.
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | No | No |
| Fund | Yes | Yes | Yes | Yes | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | No | No | No |
| Crypto | Yes | Yes | Yes | Yes | No |
#2 Saxo Bank
Web trading platform
Saxo Bank's web trading platform is one of the best among online brokers. While it's easy to use, the platform also provides features tailored for professionals, such as an advanced order panel.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Web platform score | 4.5 stars | 5.0 stars | 4.0 stars | 4.5 stars | 3.4 stars |
| Mobile platform score | 3.8 stars | 5.0 stars | 4.5 stars | 4.8 stars | 4.2 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | - | 2.5 stars | 3.9 stars |
#2 Saxo Bank
Verdict
Saxo Bank is a great broker, providing a complex and good service.
It offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.
It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit for certain countries. Lastly, there is no live chat or 24/7 customer support.
In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly adapted to the needs of clients.
| Saxo Bank | |
|---|---|
| Summary | Saxo Bank is a Danish investment bank. It is regulated by more than 10 financial authorities, including the top-tier UK FCA. |
| Fees score | 3.1 stars |
| Recommended for | Investors and traders looking for a great trading platform and solid research |
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#3 Best international online brokers for citizens in Germany
DEGIRO
DEGIRO is a Dutch online discount broker. It is privately owned and was established in 2008 by former employees of another brokerage company.
DEGIRO is regulated by top-tier financial authorities such as the Netherlands Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB). It is registered with the Chamber of Commerce and Industry in Amsterdam.
Disclaimer: Investing involves risk of loss.
Disclaimer for UK clients: Deemed authorised and regulated by the Financial Conduct Authority. The nature and extent of consumer protections may differ from those for firms based in the UK. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.
Recommended for price-sensitive buy-and-hold investors and traders looking only to carry out transactions
| Pros | Cons |
|---|---|
| • One of the lowest fees on the market | • Forex not available |
| • Regulated by multiple top-tier authorities | • Limited research and education |
| • Easy-to-use web and mobile platform | • No credit/debit card deposit |
#3 DEGIRO
Fees
DEGIRO has low trading fees for all asset classes, from stocks to options. Non-trading fees are also low, as there are no inactivity or withdrawal fees.
| Pros | Cons |
|---|---|
| • Low trading fees | • Higher trading fees for Asian and smaller European stock exchanges |
| • Low non-trading fees | |
| • Low stock and ETF fees |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $0.7 | $1.0 | $0.0 |
| UK stock | $7.8 | $10.4 | $2.6 | - | - |
| EURUSD benchmark fee | $8.1 | $7.8 | - | - | - |
| AUDUSD benchmark fee | $8.8 | $7.1 | - | - | - |
| GBPUSD benchmark fee | $8.8 | $6.2 | - | - | - |
| S&P 500 index CFD fee | $2.8 | $1.5 | - | - | - |
| Europe 50 index CFD fee | $3.1 | $2.1 | - | - | - |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#3 DEGIRO
Account opening
The account opening process at DEGIRO is fast, fully digital, and no minimum deposit is required.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $10,000 | $0 | $1 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | 1 day | 1 day |
#3 DEGIRO
Deposit and withdrawal
DEGIRO deposits and withdrawals are free of charge via bank transfer. On the other hand, you cannot deposit funds using a credit or debit card.
| Pros | Cons |
|---|---|
| • Free withdrawal | • Credit/Debit card not available |
| • No deposit fee | |
| • Several account base currencies |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#3 DEGIRO
Markets and products
At DEGIRO, you can access many markets and trade a lot of different products. CFD and forex are not available, though.
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | No | No |
| Fund | Yes | Yes | Yes | Yes | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | No | No | No |
| Crypto | Yes | Yes | Yes | Yes | No |
#3 DEGIRO
Web trading platform
DEGIRO's web platform is simple and easy to use, even for beginners. On the negative side, you cannot set price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | • No price alerts |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Web platform score | 4.5 stars | 5.0 stars | 4.0 stars | 4.5 stars | 3.4 stars |
| Mobile platform score | 3.8 stars | 5.0 stars | 4.5 stars | 4.8 stars | 4.2 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | - | 2.5 stars | 3.9 stars |
#3 DEGIRO
Verdict
DEGIRO is a good choice if you want a simple platform and don’t want to spend too much on fees.
Transaction costs are generally very low. DEGIRO also has one of the best trading platforms for Europeans. In addition, the account opening process is fast.
On the other hand, education and research tools are limited. We should also mention that there is no forex trading, and most clients can only deposit and withdraw by bank transfer.
All in all, DEGIRO is a great online broker. There is no minimum deposit and no inactivity fee, so feel free to go ahead and give it a try.
| DEGIRO | |
|---|---|
| Summary | DEGIRO is a Dutch discount broker established in 2008. It is regulated by the Dutch FMA. |
| Fees score | 4.8 stars |
| Recommended for | Price-sensitive buy-and-hold investors and traders looking only to carry out transactions |
#4 Best international online brokers for citizens in Germany
TradeStation
TradeStation is a US stockbroker founded in 1982. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients are eligible for up to $500,000 investor protection per account (including cash up to $250,000).
TradeStation is considered safe because it has a long track record; discloses its financials; and its parent company, the Monex Group, is listed on the Tokyo Stock Exchange.
Recommended for traders focusing on us markets and buy-and-hold investing
| Pros | Cons |
|---|---|
| • Great web and mobile trading platform | • Not user-friendly deposit and withdrawal |
| • Low stock and ETF fees | • No forex trading |
| • High-quality educational tools | • Mediocre customer service |
#4 TradeStation
Fees
TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, withdrawals can be costly.
| Pros | Cons |
|---|---|
| • Low trading fees | • Withdrawal fee |
| • Low stock and ETF fees | |
| • Multiple fee structures to choose from |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $0.7 | $1.0 | $0.0 |
| UK stock | $7.8 | $10.4 | $2.6 | - | - |
| EURUSD benchmark fee | $8.1 | $7.8 | - | - | - |
| AUDUSD benchmark fee | $8.8 | $7.1 | - | - | - |
| GBPUSD benchmark fee | $8.8 | $6.2 | - | - | - |
| S&P 500 index CFD fee | $2.8 | $1.5 | - | - | - |
| Europe 50 index CFD fee | $3.1 | $2.1 | - | - | - |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#4 TradeStation
Account opening
TradeStation account opening is fully digital, user-friendly and fast. On the other hand, USD is the only available base currency (except for futures accounts).
| Pros | Cons |
|---|---|
| • Fast | • Only USD accounts (unless you trade futures) |
| • Fully digital | |
| • User-friendly |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $10,000 | $0 | $1 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | 1 day | 1 day |
#4 TradeStation
Deposit and withdrawal
TradeStation's deposit and withdrawal functions are somewhat limited, as you can use only bank transfer; and the fee for wire transfer withdrawals is high.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Deposit and withdrawal in cryptocurrencies | • High fee for wire withdrawal |
| • Only USD accounts (unless you trade futures) |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#4 TradeStation
Markets and products
TradeStation grants access to a wide variety of US products, but its non-US market coverage is poor. Also, forex and CFDs are not available.
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | No | No |
| Fund | Yes | Yes | Yes | Yes | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | No | No | No |
| Crypto | Yes | Yes | Yes | Yes | No |
#4 TradeStation
Web trading platform
TradeStation has a nice-looking, user-friendly web trading platform with a safe login process, but it lacks price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No price alerts |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Web platform score | 4.5 stars | 5.0 stars | 4.0 stars | 4.5 stars | 3.4 stars |
| Mobile platform score | 3.8 stars | 5.0 stars | 4.5 stars | 4.8 stars | 4.2 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | - | 2.5 stars | 3.9 stars |
#4 TradeStation
Verdict
TradeStation is a great US broker.
The web and mobile platforms are very user-friendly with many functions. It also offers low stock and ETF trading fees. On top of that, TradeStation's education materials are well-structured and high quality.
On the other hand, the deposit and withdrawal functions are not user-friendly as you can only use bank transfer. There is no forex trading, and customer service has room for improvement.
Feel free to try TradeStation if you prefer trading on US markets. We recommend it for buy and hold investors with at least some experience.
| TradeStation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, a top-tier US regulatory body. |
| Fees score | 4.1 stars |
| Recommended for | Traders focusing on US markets and buy-and-hold investing |
#5 Best international online brokers for citizens in Germany
tastyworks
tastyworks is a young, up-and-coming US broker focusing on options trading. It is regulated by the top-tier Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Australian Securities and Investments Commission (ASIC) for Australian clients
The people behind tastyworks are the same experts who built thinkorswim, now operated by TD Ameritrade. tastyworks is privately owned; it was established in 2017 and is headquartered in Chicago.
Recommended for options and futures traders focusing on us markets
| Pros | Cons |
|---|---|
| • Low trading fees | • Limited product selection |
| • Great educational materials | • Few deposit and withdrawal options |
| • Good research tools | • No demo account |
#5 tastyworks
Fees
tastyworks has low trading fees and there is no inactivity fee. On the other hand, you have to pay a high withdrawal fee for wire transfers.
| Pros | Cons |
|---|---|
| • Low trading fees | • Withdrawal fee for bank (wire) transfers |
| • Low stock and ETF fees | |
| • No inactivity fee |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $0.7 | $1.0 | $0.0 |
| UK stock | $7.8 | $10.4 | $2.6 | - | - |
| EURUSD benchmark fee | $8.1 | $7.8 | - | - | - |
| AUDUSD benchmark fee | $8.8 | $7.1 | - | - | - |
| GBPUSD benchmark fee | $8.8 | $6.2 | - | - | - |
| S&P 500 index CFD fee | $2.8 | $1.5 | - | - | - |
| Europe 50 index CFD fee | $3.1 | $2.1 | - | - | - |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#5 tastyworks
Account opening
tastyworks account opening is user-friendly, fast, fully digital, and involves no minimum deposit.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $10,000 | $0 | $1 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | 1 day | 1 day |
#5 tastyworks
Deposit and withdrawal
tastyworks's deposit and withdrawal functions are easy to use and there's no deposit fee, but you can use only bank transfer, and withdrawals can be expensive especially for non-US clients.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • User-friendly | • Only one account base currency |
| • Free ACH withdrawals in the US | • High fee for wire withdrawals |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#5 tastyworks
Markets and products
At tastyworks, you can trade US stocks, ETFs, options and some futures. Other popular asset classes like mutual funds or bonds are missing, as are international assets.
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | No | No |
| Fund | Yes | Yes | Yes | Yes | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | No | No | No |
| Crypto | Yes | Yes | Yes | Yes | No |
#5 tastyworks
Web trading platform
The tastyworks web platform is great for experienced traders, especially for options trading. However, it takes time to figure out how its functions work, and its customizability is limited.
| Pros | Cons |
|---|---|
| • Clear fee report | • Limited customizability (for charts, workspace) |
| • Price alerts | • Not suited for beginners |
| • Two-step (safer) authentication for certain functions |
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Web platform score | 4.5 stars | 5.0 stars | 4.0 stars | 4.5 stars | 3.4 stars |
| Mobile platform score | 3.8 stars | 5.0 stars | 4.5 stars | 4.8 stars | 4.2 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | - | 2.5 stars | 3.9 stars |
#5 tastyworks
Verdict
tastyworks is an excellent broker for options trading, but it is a bit complicated if you want to trade stocks only.
tastyworks's trading fees are low, with free stock and ETF trading fees. Its trading platform is aimed at experienced options traders, and can be intimidating for beginners. However, its educational and research tools are great for learning. Deposit and withdrawal processes could be better, and a demo account would also be great for practice purposes.
As there is no minimum deposit, no inactivity fee or monthly fee, and the account opening process is seamless, you should feel free to try it.
| tastyworks | |
|---|---|
| Summary | tastyworks is a recently established US options and stockbroker. It is overseen by FINRA, a top-tier regulatory body. |
| Fees score | 4.5 stars |
| Recommended for | Options and futures traders focusing on US markets |
Best international online brokers for citizens in Germany
What makes a good online broker
Now that you know the top 5, you are probably curious how we came up with this list. Let's go through a few points quickly. What is an online broker? Why do we think these brokers are safe? What are the most important factors when selecting the best online brokers?
What is an online broker?
Thirty years ago, if you wanted to buy a stock, you had to pick up the phone and call your broker, who executed the transaction in return for a commission. Brokers were like characters in the movie 'Wolf of Wall Street'. They were constantly monitoring stock prices while holding the phone and shouting. The Internet changed all that. Nowadays, if you want to invest in Apple shares, you open an online account, deposit money, and set up an order on the brokers' online platform. These platforms are the online brokers. Online brokers help you buy and sell securities like stocks and ETFs. After creating your order, the online broker executes it immediately. It all takes place online.
Are these brokers safe?
We consider each broker on our list safe. You can be sure none of them is a scam. All the brokers featured on BrokerChooser are regulated by at least one authority.
However, brokerage companies can still go bust. Remember the collapse of Lehman Brothers? In such cases, it is important to know what happens with your securities and cash. Your funds are usually held in segregated accounts, so even if your broker goes bankrupt, your funds are safe.
If all goes wrong, and for example, the broker steals your assets, then you have a last resort: the compensation fund of the country where the broker is regulated.
How did BrokerChooser pick the best online brokers?
At BrokerChooser, we test online brokers based on more than ~300 criteria, with real accounts and real money. We don\'t want to overwhelm you, so we will list the five most important criteria.
| 1. Fees | The trading fees of a typical US equity trade can be 50 times higher at one online broker compared to another. It's definitely worth checking these fees. |
| 2. Account opening | Some online brokers require a minimum deposint to start investing while others don't ask for a fix first-time deposit. Check these reuirements at the best online brokers. |
| 3. Deposit and withdrawal | At some online brokers, funding and withdrawing funds can take 5 times longer and be much more expensive than at others. |
| 5. Trading platform | A user-friendly and well-equipped trading platform can significantly increase your trading comfort. |
| 4. Markets and products | You want to invest in Amazon or trade Bitcoin? They might not be available. Check the product lineup before opening an account. |
Best international online brokers for citizens in Germany
Bottom line
These were the details, now let's zoom out. Here are the best international online brokers of 2021 for citizens in Germany:
| Interactive Brokers | Saxo Bank | DEGIRO | TradeStation | tastyworks | |
|---|---|---|---|---|---|
| Overall score | 4.9 | 4.8 | 4.8 | 4.7 | 4.7 |
| Best in | Best online broker | Best forex broker | Best discount broker | Best broker for options | |
| Fees score | 4.2 stars | 3.1 stars | 4.8 stars | 4.1 stars | 4.5 stars |
| Account opening score | 3.4 stars | 2.5 stars | 5.0 stars | 5.0 stars | 5.0 stars |
| Deposit and withdrawal score | 3.5 stars | 4.8 stars | 3.3 stars | 2.3 stars | 1.9 stars |
| Markets and products score | 5.0 stars | 5.0 stars | 3.5 stars | 2.7 stars | 2.6 stars |
| Web platform score | 4.5 stars | 5.0 stars | 4.0 stars | 4.5 stars | 3.4 stars |
| Mobile platform score | 3.8 stars | 5.0 stars | 4.5 stars | 4.8 stars | 4.2 stars |
| Open account | Open account | Open account | Open account | Open account |
Interactive Brokers is our winner, the best international online broker in Germany for 2021. Low trading fees. Wide range of products. Many great research tools.
All of these brokers are considered safe and a great choice. Pick the winner, or any of the runners-up, and take the next step in your investment journey. Let us know what you think in the comments section.
Still unsure? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country it will show only the relevant brokers. Want more details? Compare brokers with the help of our in-depth comparison table.
