To help you to find the best international online brokers in Germany in 2022, we went ahead and did the research for you. We selected 100 quality online brokers, checked and compared basically every aspect of their services, with a special focus on fees, safety, trading platforms, as well as deposit and withdrawal options. Service providers had to prove their excellence in multiple areas to be considered among the best online brokers. And now, without further ado...
Top 5 picks for best international online brokers in Germany in 2022:
- Interactive Brokers is the best international online brokers in Germany in 2022. Low trading fees. Wide range of products. Many great research tools.
- DEGIRO takes second place. One of the lowest fees on the market. Regulated by top-tier authorities. Easy-to-use web and mobile platform.
- Saxo Bank rounds out the top three. Great trading platform. Outstanding research. Broad product portfolio.
- XTB is numero quattro. Low forex CFD fees, commission-free stocks/ETFs for some. Free and fast deposit and withdrawal. Easy and fast account opening.
- eToro just made it to the list in fifth place. Free stock and ETF trading. Seamless account opening. Social trading.
| Broker | Info | Score | Minmum deposit | |
|---|---|---|---|---|
| #1 | Interactive Brokers | International broker providing all asset classes | 4.9 | $0 |
| #2 | DEGIRO | German-Dutch discount broker | 4.8 | $0 |
| #3 | Saxo Bank | Danish investment bank | 4.8 | $2,000 |
| #4 | XTB | Global CFD broker | 4.8 | $0 |
| #5 | eToro | Global social trading broker | 4.7 | $200 |
What makes a good online broker? Surely, they need to provide great services in all areas, especially in terms of fair fees and safety. Depositing and withdrawing money should be either free or cheap and the process user-friendly. Great trading platforms, an easy account opening procedure and a wide range of products also weighed heavily in the scoring.
These features are easy to list, but hard to figure out. We are testing brokers based on nearly 500 criteria with real accounts and real money. You can find all the ranking criteria in our methodology.
And now, let's see the best international online broker in Germany in 2022 one by one, starting with the winner, Interactive Brokers.
#1 Best international online brokers for citizens in Germany
Interactive Brokers
Interactive Brokers review summary
Interactive Brokers, one of the biggest US-based discount brokers, was founded in 1978. 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).
Given that the broker has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. The fact that it has a long track record and publicly disclosed financials while being listed on a stock exchange all point to IB being a safe service provider.
Recommended for traders looking for broad market access 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 | • Understaffed customer service |
#1 Interactive Brokers
Fees
Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.
| Pros | Cons |
|---|---|
| • Low trading fees | None |
| • Free stock and ETF trading for US clients | |
| • Low margin rates |
| Interactive Brokers | DEGIRO | Saxo Bank | XTB | eToro | |
|---|---|---|---|---|---|
| US stock | $1.0 | $0.6 | $10.0 | $0.0 | $0.0 |
| UK stock | $4.2 | $3.2 | $11.2 | $0.0 | $0.0 |
| EURUSD benchmark fee | $10.4 | - | $7.1 | $8.3 | $7.8 |
| US stock index options | $6.5 | $7.5 | $30.0 | - | - |
| Mutual fund | $15.0 | $4.7 | $0.0 | - | - |
| S&P 500 index CFD fee | $2.8 | - | $1.2 | $1.5 | $1.5 |
All commissions, spreads and financing rates (if applicable) for opening a position, holding for a week, and closing.
#1 Interactive Brokers
Mobile trading platform
The Interactive Brokers mobile trading platform boasts a lot of functions and a useful chatbot, but its user interface could be better.
| Pros | Cons |
|---|---|
| • Two-step (safer) login | • Minor technical glitches |
| • Good variety of order types | |
| • Price alerts |
#1 Interactive Brokers
Deposit and withdrawal
Interactive Brokers offers several account base currencies 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 free each month |
| Interactive Brokers | DEGIRO | Saxo Bank | XTB | eToro | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | Yes |
| Electronic wallets | No | No | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $5 |
#2 Best international online brokers for citizens in Germany
DEGIRO
DEGIRO review summary
DEGIRO is a German-Dutch online discount broker. It was established in 2008 by former employees of another brokerage company in the Netherlands. DEGIRO merged with flatexDEGIRO Bank AG in early 2021, creating the biggest online execution-only broker in Europe with its own banking license.
DEGIRO is regulated by top-tier financial authorities such as the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, or BaFin) in Germany.
Disclaimer: Investing involves risk of loss.
Disclaimer for UK clients: Deemed authorised and regulated by the Financial Conduct Authority (FCA). The nature and extent of consumer protections may differ from those applicable to 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 FCA's website.
Recommended for traders and investors looking for execution only
| Pros | Cons |
|---|---|
| • One of the lowest fees on the market | • Forex not available |
| • Regulated by top-tier authorities | • Limited research tools |
| • Easy-to-use web and mobile platform | • No credit/debit card deposit |
#2 DEGIRO
Fees
DEGIRO has low trading fees for all asset classes. Non-trading fees are also low, as there are no inactivity or withdrawal fees. On the negative side, trading US options or futures will come with a €5 monthly fee. If you need currency conversion, a 0.25% fee will apply.
| Pros | Cons |
|---|---|
| • Low fund fees | • €5 monthly fee for trading US derivatives (options and futures) |
| • No inactivity fee | • 0.25% FX conversion fee |
| • Low stock and ETF fees |
| Interactive Brokers | DEGIRO | Saxo Bank | XTB | eToro | |
|---|---|---|---|---|---|
| US stock | $1.0 | $0.6 | $10.0 | $0.0 | $0.0 |
| UK stock | $4.2 | $3.2 | $11.2 | $0.0 | $0.0 |
| EURUSD benchmark fee | $10.4 | - | $7.1 | $8.3 | $7.8 |
| US stock index options | $6.5 | $7.5 | $30.0 | - | - |
| Mutual fund | $15.0 | $4.7 | $0.0 | - | - |
| S&P 500 index CFD fee | $2.8 | - | $1.2 | $1.5 | $1.5 |
All commissions, spreads and financing rates (if applicable) for opening a position, holding for a week, and closing.
#2 DEGIRO
Mobile trading platform
DEGIRO's mobile app has a basic but good design and is pretty straightforward to use.
| Pros | Cons |
|---|---|
| • User-friendly | • No price alerts |
| • Two-step (safer) login | |
| • Touch/Face ID login |
#2 DEGIRO
Deposit and withdrawal
DEGIRO deposits and withdrawals are free of charge via bank transfer. A big drawback though is that you can't 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 | DEGIRO | Saxo Bank | XTB | eToro | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | Yes |
| Electronic wallets | No | No | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $5 |
Want to stay in the loop?
Sign up to get notifications about new BrokerChooser articles right into your mailbox.
#3 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's 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.
Being regulated by top-tier financial authorities, and having a long track record and a banking background, are all good signs for Saxo Bank's safety.
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 |
#3 Saxo Bank
Fees
Saxo Bank has overall average trading and non-trading fees, but the structure is quite mixed, with great differences between the fees for various asset classes.
| Pros | Cons |
|---|---|
| • Low forex fees | • Inactivity fee |
| • Low fund fees | • Custody fee |
| • No withdrawal fee | • High fees for options and futures |
| Interactive Brokers | DEGIRO | Saxo Bank | XTB | eToro | |
|---|---|---|---|---|---|
| US stock | $1.0 | $0.6 | $10.0 | $0.0 | $0.0 |
| UK stock | $4.2 | $3.2 | $11.2 | $0.0 | $0.0 |
| EURUSD benchmark fee | $10.4 | - | $7.1 | $8.3 | $7.8 |
| US stock index options | $6.5 | $7.5 | $30.0 | - | - |
| Mutual fund | $15.0 | $4.7 | $0.0 | - | - |
| S&P 500 index CFD fee | $2.8 | - | $1.2 | $1.5 | $1.5 |
All commissions, spreads and financing rates (if applicable) for opening a position, holding for a week, and closing.
#3 Saxo Bank
Mobile trading platform
Saxo Bank's user-friendly mobile app has the same look and very similar functionalities as the web platform.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Two-step (safer) login | |
| • Good search function |
#3 Saxo Bank
Deposit and withdrawal
Saxo Bank provides multiple deposit and withdrawal options free of charge, on a user-friendly interface.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Electronic wallets not available |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | DEGIRO | Saxo Bank | XTB | eToro | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | Yes |
| Electronic wallets | No | No | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $5 |
#4 Best international online brokers for citizens in Germany
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.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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.
Recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
| Pros | Cons |
|---|---|
| • Low forex CFD fees, commission-free stocks/ETFs for some | • High stock CFD fees |
| • Free and fast deposit and withdrawal | • Product portfolio limited mostly to CFDs |
| • Easy and fast account opening | • Limited fundamental data |
#4 XTB
Fees
Forex fees are low, in many cases there's no withdrawal fee, and some clients are eligible for free stock and ETF trading. However, stock CFD fees are high there's an inactivity fee.
| Pros | Cons |
|---|---|
| • Free stocks/ETFs up to €100k monthly volume | • High stock CFD fees |
| • Low forex and stock index CFD fees | • Inactivity fee |
| • Most bank transfer withdrawals are free |
| Interactive Brokers | DEGIRO | Saxo Bank | XTB | eToro | |
|---|---|---|---|---|---|
| US stock | $1.0 | $0.6 | $10.0 | $0.0 | $0.0 |
| UK stock | $4.2 | $3.2 | $11.2 | $0.0 | $0.0 |
| EURUSD benchmark fee | $10.4 | - | $7.1 | $8.3 | $7.8 |
| US stock index options | $6.5 | $7.5 | $30.0 | - | - |
| Mutual fund | $15.0 | $4.7 | $0.0 | - | - |
| S&P 500 index CFD fee | $2.8 | - | $1.2 | $1.5 | $1.5 |
All commissions, spreads and financing rates (if applicable) for opening a position, holding for a week, and closing.
#4 XTB
Mobile trading platform
The XTB mobile trading app has a good search function and a modern design. On the other hand, there is no two-step authentication.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Price alerts | |
| • Modern design |
#4 XTB
Deposit and withdrawal
XTB deposits and withdrawals are fast, mostly free and can be done via several channels.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Few minor account currencies accepted |
| • Deposits/withdrawals are mostly free | |
| • E-wallets available |
| Interactive Brokers | DEGIRO | Saxo Bank | XTB | eToro | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | Yes |
| Electronic wallets | No | No | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $5 |
#5 Best international online brokers for citizens in Germany
eToro
eToro review summary
eToro is a well-known Israeli fintech company and a social trading broker, established in 2007.
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.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% 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.
Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading
| Pros | Cons |
|---|---|
| • Free stock and ETF trading | • High non-trading fees |
| • Seamless account opening | • Only one account base currency |
| • Social trading | • Customer support should be improved |
#5 eToro
Fees
eToro offers free stock and ETF trading, while forex and CFD fees are low. On the negative side, non-trading fees are high, including a $5 withdrawal fee.
| Pros | Cons |
|---|---|
| • Low trading fees | • Inactivity fee |
| • Free stock and ETF trading | • $5 withdrawal fee |
| • Low forex and CFD fees |
| Interactive Brokers | DEGIRO | Saxo Bank | XTB | eToro | |
|---|---|---|---|---|---|
| US stock | $1.0 | $0.6 | $10.0 | $0.0 | $0.0 |
| UK stock | $4.2 | $3.2 | $11.2 | $0.0 | $0.0 |
| EURUSD benchmark fee | $10.4 | - | $7.1 | $8.3 | $7.8 |
| US stock index options | $6.5 | $7.5 | $30.0 | - | - |
| Mutual fund | $15.0 | $4.7 | $0.0 | - | - |
| S&P 500 index CFD fee | $2.8 | - | $1.2 | $1.5 | $1.5 |
All commissions, spreads and financing rates (if applicable) for opening a position, holding for a week, and closing.
#5 eToro
Mobile trading platform
eToro's mobile platform is well-designed and intuitive but lacks biometric authentication.
| Pros | Cons |
|---|---|
| • User-friendly | • No Touch/Face ID login |
| • Two-step (safer) login | |
| • Good search function |
#5 eToro
Deposit and withdrawal
Depositing money is easy, with a lot of available options, although there is a $5 withdrawal fee. As only USD accounts are available, you may pay a high conversion fee if you deposit or withdraw in another currency, like EUR or GBP.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Only one account base currency |
| • User-friendly | • $5 withdrawal fee |
| • Conversion fee for non-USD deposits |
| Interactive Brokers | DEGIRO | Saxo Bank | XTB | eToro | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | Yes |
| Electronic wallets | No | No | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $5 |
Best international online brokers for in Germany in 2022
What makes a good online broker
Now that you know the top 5, you probably want to know how we came up with this list. Let's go through a few points quickly.
Are these brokers reliable?
Absolutely. You can be sure none of them is a scam. They are all regulated by at least one top-tier regulator.
How did BrokerChooser pick the best online brokers?
At BrokerChooser, we test online brokers based on more than 500 criteria, with real accounts and real money. We don't want to overwhelm you, so we will list only the top 5 criteria.
| 1. Fees | Trading fees for a given stock trade can be 50 times higher at one online broker compared to another. The brokers listed here all have low fees. |
| 2. Deposit and withdrawal | At some online brokers, funding and withdrawing funds can take much longer and be much more expensive than at others. |
| 3. Trading platform | A user-friendly and well-equipped trading platform can significantly increase your trading comfort. |
| 4. Account opening | Some online brokers require a minimum deposit to start investing while others don't ask for a fix first-time deposit. Check these requirements before opening an account. |
| 5. Markets and products | Want to invest in Japanese stocks or trade Bitcoin? They are not be available at each broker. We selected brokers with a wide range of products so you can trade many asset types. |
Best international online brokers for in Germany in 2022
Bottom line
These were the details, now let's zoom out. Here are the best international online brokers in 2022 for residents in Germany:
| Interactive Brokers | DEGIRO | Saxo Bank | XTB | eToro | |
|---|---|---|---|---|---|
| Overall score | 4.9 | 4.8 | 4.8 | 4.8 | 4.7 |
| Fees score | 4.5 stars | 4.6 stars | 3.3 stars | 4.3 stars | 4.3 stars |
| Mobile platform score | 3.5 stars | 4.5 stars | 5.0 stars | 4.4 stars | 4.7 stars |
| Deposit and withdrawal score | 3.0 stars | 3.3 stars | 4.8 stars | 4.5 stars | 3.9 stars |
| Account opening score | 3.2 stars | 5.0 stars | 2.0 stars | 5.0 stars | 5.0 stars |
| Markets and products score | 5.0 stars | 3.6 stars | 5.0 stars | 3.3 stars | 4.3 stars |
| Visit broker | Visit broker | Visit broker |
Visit broker
73% of retail CFD accounts lose money |
Visit broker
Your capital is at risk |
Interactive Brokers is our winner, the best international online broker in Germany in 2022. Low trading fees. Wide range of products. Many great research tools.
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 brokers that are relevant to you. Want more details? Compare brokers with the help of this detailed comparison table.
