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Top 5 picks for best international online brokers in Germany in 2023:
- Interactive Brokers is the best international online brokers in Germany in 2023. - Low trading fees. Wide range of products. Many great research tools.
- DEGIRO - One of the lowest fees on the market. Regulated by top-tier authorities. Easy-to-use web and mobile platform.
- eToro - Free stock and ETF trading. Seamless account opening. Social trading.
- XTB - Commission-free stocks/ETFs for some. Free and fast deposit and withdrawal. Easy and fast account opening.
- Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio.
How did we select the best international online brokers in Germany in 2023?
- We checked whether the broker is regulated by a trusted regulator,
- Compared fees (including spreads, withdrawal fees, commissions),
- We checked and compared every aspect of their services,
- Opened an account and tested the platform (charting, features, usability) with real money.
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.
Now let's jump straight to the results.
Best international online brokers in Germany in 2023
Comparison of best online brokers in Germany
While many international online trading brokers catering to German citizens offer an excellent service, the ones in our top list go the extra mile. These international online trading platforms offer a broad range of markets and asset classes and are suitable for beginners and experienced traders alike.
| Interactive Brokers | DEGIRO | eToro | XTB | Saxo Bank | |
|---|---|---|---|---|---|
| Overall score | 4.9 stars | 4.9 stars | 4.9 stars | 4.8 stars | 4.8 stars |
| Minimum deposit | $0 | $0 | $10 | $0 | $2,000 |
| Time to open account | 1-3 days | 1 day | 1 day | 1 day | 1 day |
Best international online brokers in Germany in 2023
Fee comparison at the best online brokers in Germany
In most cases the key broker selection criteria is how much you have to pay for a trade in spreads, commission and other trading costs, so we collected the most important fees for you in the table below.
| Interactive Brokers | DEGIRO | eToro | XTB | Saxo Bank | |
|---|---|---|---|---|---|
| US stock | $1.0 | $1.0 | $0.0 | $0.0 | $10.0 |
| UK stock | $3.4 | $3.1 | $0.0 | $0.0 | $9.0 |
| EURUSD spread | 0.1 | - | 1.0 | 0.9 | 0.7 |
| US stock index options | $6.5 | $7.5 | - | - | $30.0 |
| Mutual fund | $15.0 | $3.9 | - | - | $0.0 |
| S&P 500 index CFD fee | $3.3 | - | $3.1 | $4.0 | $3.1 |
Best international online brokers in Germany in 2023
Other fees at the best online brokers in Germany
Other 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.
| Interactive Brokers | DEGIRO | eToro | XTB | Saxo Bank | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | No | Yes | Yes | Yes |
| Withdrawal fee | $0 | $0 | $5 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 | $0 | $0 |
If you are unsure how brokerage fees are charged, check out this article on the various fees, charges and costs.
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Best international online brokers in Germany in 2023
Financial market regulation in Germany
Financial markets and brokers operating in Germany are overseen by the Federal Financial Supervisory Authority (BaFin), the country’s market regulator and one of the most respected such authorities worldwide. BaFin has put in place one of the strictest retail market regulations in the world.
The authority has repeatedly warned traders in Germany to pay close attention to the origin of the broker or trading platform they use. 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.
Germany’s largest stock exchange is the Frankfurt Stock Exchange (FRA), the 12th largest bourse in the world by market capitalization. The two most significant indices are the DAX and Euro Stoxx 50, which include the 30 largest German companies traded on the FRA.
Best international online brokers in Germany in 2023
Taxation of trading in Germany
Any profits made from trading financial assets such as stocks, bonds, currencies or CFDs are taxed in Germany. Interests, dividends, and realized capital gains are subject to the final withholding tax, which has a flat rate of 25% plus solidarity surcharge (5.5%) and church tax if applicable.
Financial institutions in Germany, including German brokers, will 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.
And now, let's see the top international online brokers for 2023 for residents in Germany one by one, starting with the winner, Interactive Brokers.
#1 Best international online broker in Germany in 2022
Interactive Brokers
Recommended for traders looking for broad market access and a professional trading environment
| Interactive Brokers snapshot | |
|---|---|
| Minimum deposit | $0 |
| Fees class | Low |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Time to open account | 1-3 days |
| Inactivity fee | No |
| Read review | For a detailed analysis of Interactive Brokers services, check out our review for 2023 |
#2 Best international online broker in Germany in 2022
DEGIRO
Recommended for traders and investors looking for execution only
| DEGIRO snapshot | |
|---|---|
| Minimum deposit | $0 |
| Fees class | Low |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Time to open account | 1 day |
| Inactivity fee | No |
| Read review | For a detailed analysis of DEGIRO services, check out our review for 2023 |
#3 Best international online broker in Germany in 2022
eToro
Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading
| eToro snapshot | |
|---|---|
| Minimum deposit | $10 |
| Fees class | Low |
| Deposit method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, China UnionPay, Klarna, POLi, iDEAL |
| Withdrawal method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, China UnionPay, Klarna, POLi, iDEAL |
| Withdrawal fee | $5 |
| Time to open account | 1 day |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of eToro services, check out our review for 2023 |
#4 Best international online broker in Germany in 2022
XTB
Recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
| XTB snapshot | |
|---|---|
| Minimum deposit | $0 |
| Fees class | Low |
| Deposit method | Bank transfer, Credit/debit cards, Paysafe, Skrill |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Time to open account | 1 day |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of XTB services, check out our review for 2023 |
#5 Best international online broker in Germany in 2022
Saxo Bank
Recommended for investors and traders looking for a great trading platform and solid research
| Saxo Bank snapshot | |
|---|---|
| Minimum deposit | $2,000 |
| Fees class | Average |
| Deposit method | Bank transfer, Credit/debit cards |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Time to open account | 1 day |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of Saxo Bank services, check out our review for 2023 |
Best international online brokers in Germany in 2023
FAQ
What is the minimum deposit needed to start trading in Germany?
There is no set minimum deposit for trading stocks, bonds, forex or CFD in Germany. but pro traders recommend starting with at least $100.
How do you know if a broker is a scam?
The most important step when checking whether a broker is scamming you is to look up where the broker is regulated. National regulators such as the FCA in the UK, the SEC and FINRA in the US, BaFin in German are widely considered as strict and top-notch regulators and brokers working under their supervision are typically trusted service providers.
Do your due diligence by reading reviews about the specific broker and see if you are entitled to investor protection in your country in case your broker goes bankrupt. Investor protection does not apply to instances where people are scammed by their broker.
Which are the best online brokers in Germany?
The top online brokers in Germany in 2023 are:
- Interactive Brokers - Low trading fees. Wide range of products. Many great research tools.
- DEGIRO - One of the lowest fees on the market. Regulated by top-tier authorities. Easy-to-use web and mobile platform.
- eToro - Free stock and ETF trading. Seamless account opening. Social trading.
- XTB - Commission-free stocks/ETFs for some. Free and fast deposit and withdrawal. Easy and fast account opening.
- Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio.
