To find the best international online brokers in Germany, we went ahead and did the research for you. After testing, analyzing and comparing 57 brokers, 5 made it to the top. We highly recommend all 5 to you. And now, without further ado...
The top 5 picks for the best international online brokers of 2020 for citizens in Germany:
- Interactive Brokers is the number one international online broker in 2020. Wide range of products. Many great research tools. Regulated by several authorities.
- Saxo Bank in the second place. Great trading platform. Outstanding research. Broad product portfolio.
- DEGIRO rounded out the top three. One of the lowest fees on the market. Fast and seamless account opening. Easy to use web and mobile trading platform.
- Tradestation, numero quatro. Great web and mobile trading platform. Low stock and ETF fees. High-quality educational tools.
- Tastyworks. Low trading fees. Great educational materials. Good research tools. Just made it to the list with being number five.
| 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 | 4.7 | Best discount broker |
| #4 | Tradestation | US stockbroker | 4.7 | Best app for stock trading |
| #5 | Tastyworks | US options and stockbroker | 4.7 |
What makes a good online broker? First of all, they need to offer fair fees and to have a good safety score. It must also be easy to open an account and deposit money. They should give access to many products and need to have a great platform.
Easy to list, but hard to figure it out. We are testing brokers more than 100 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? For a tailored recommendation, check out the broker finder tool. You can enter your country and it will show only the relevant brokers. Want more details? Compare brokers with this detailed comparison table.
And now, let's see the best international online brokers in 2020 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, the broker is considered safe. Also, 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 |
|---|---|
| • Wide range of products | • Extremely complex desktop trading platform |
| • Many great research tools | • Complicated account opening process |
| • Regulated by several authorities | • Funding and withdrawal only via bank transfer |
#1 Interactive Brokers
Fees
Interactive Brokers has low trading fees and 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 |
| • Low stock and ETF fees | |
| • Low financing rate | |
| • Free stock and ETF trading for US clients |
| Interactive Brokers | Saxo Bank | DEGIRO | Tradestation | Tastyworks | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $0.6 | $1.0 | $0.0 |
| UK stock | $7.2 | $9.6 | $2.5 | - | - |
| EURUSD benchmark fee | $17.9 | $15.5 | - | - | - |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
#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 online registration is complicated and account verification takes around 2 business days.
| Pros | Cons |
|---|---|
| • Fully digital | • Not user-friendly |
| • No minimum deposit for most accounts types | • Confusing messages throughout the process |
| Interactive Brokers | Saxo Bank | DEGIRO | Tradestation | Tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $600 | $0 | $500 | $0 |
| Time to open account | 1-3 days | 1-3 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 drawbacks are that you can only use bank transfer and the process is not user-friendly.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | • Not user-friendly |
| • 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 | $35 | $45 |
#1 Interactive Brokers
Markets and products
Through Interactive Brokers you can access an extremely wide range of markets, with every product type 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 | Yes | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | No | No | No |
| Crypto | Yes | Yes | Yes | No | 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 | 4.0 | 5.0 | 4.0 | 5.0 | 3.0 |
| Mobile platform score | 4.0 | 5.0 | 5.0 | 5.0 | 4.0 |
| Desktop platform score | 3.0 | 5.0 | - | 3.0 | 4.0 |
#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 for advanced traders.
On the plus side, IB has a vast range of markets and products available, with diverse research tools and low costs.
There are some drawbacks though: you can only fund your account via wire transfer and the account opening process is complicated. The desktop platform is complex and hard-to-understand, especially for beginners.
If you have experience navigating complex platforms and you like 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 | 4.0 |
| 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 is a Danish investment bank founded in 1992, providing online trading and investments. 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. In the different regions, its subsidiaries are present in the form of separate legal entities. The services offered by each entity might change slightly especially in case of their fees and products available to trade. In this review, we tested Saxo Bank UK.
Saxo Bank is considered safe because it has a long track record, has 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. The fees for forex, mutual funds and stock index CFDs are low, while they are average for real stocks, ETFs or stock CFDs. Bond, options and futures fees are high.
| Pros | Cons |
|---|---|
| • Low fund fees | • Inactivity fee |
| • No withdrawal fee | • High bond, options and futures fees |
| • Transparent fee structure | |
| • Lower fees for Platinum and VIP clients |
| Interactive Brokers | Saxo Bank | DEGIRO | Tradestation | Tastyworks | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $0.6 | $1.0 | $0.0 |
| UK stock | $7.2 | $9.6 | $2.5 | - | - |
| EURUSD benchmark fee | $17.9 | $15.5 | - | - | - |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
#2 Saxo Bank
Account opening
Saxo's account opening is fully digital, user-friendly, and available in most of the world. On the other hand, the minimum deposit is high, and account verification could be faster.
| Pros | Cons |
|---|---|
| • Fully digital | • Minimum deposit is higher than $500 |
| • User-friendly | • Relatively slow account verification |
| • Available in almost every country |
| Interactive Brokers | Saxo Bank | DEGIRO | Tradestation | Tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $600 | $0 | $500 | $0 |
| Time to open account | 1-3 days | 1-3 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 | None |
| • 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 | $35 | $45 |
#2 Saxo Bank
Markets and products
Saxo Bank's product portfolio is great. It covers all asset classes and a lot of markets globally. Mutual funds and crypto are the only areas where its 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 | Yes | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | No | No | No |
| Crypto | Yes | Yes | Yes | No | No |
#2 Saxo Bank
Web trading platform
Saxo Bank's web trading platform is one of the best among online brokers. It's easy to use, but also provides features favored by professionals, such as an advanced order panel. On the negative side, there is no two-step login.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | |
| • Good search function |
| Interactive Brokers | Saxo Bank | DEGIRO | Tradestation | Tastyworks | |
|---|---|---|---|---|---|
| Web platform score | 4.0 | 5.0 | 4.0 | 5.0 | 3.0 |
| Mobile platform score | 4.0 | 5.0 | 5.0 | 5.0 | 4.0 |
| Desktop platform score | 3.0 | 5.0 | - | 3.0 | 4.0 |
#2 Saxo Bank
Verdict
Saxo Bank is a great broker, providing a complex and good service.
Saxo 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. 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 responding 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 | 3.0 |
| 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, 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.
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 | • Limited research and education |
| • Fast and seamless account opening | • No forex trading |
| • Easy to use web and mobile trading platform | • No credit/debit card deposit and withdrawal |
#3 DEGIRO
Fees
DEGIRO has low trading and non-trading fees. In most asset classes, it is the best on the market. There are some ETFs that you can trade once a month for free, which is a great deal for buy-and-hold investors.
| 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 | $0.6 | $1.0 | $0.0 |
| UK stock | $7.2 | $9.6 | $2.5 | - | - |
| EURUSD benchmark fee | $17.9 | $15.5 | - | - | - |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
#3 DEGIRO
Account opening
DEGIRO has an easy and fast account opening process. No minimum deposit is required.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| Interactive Brokers | Saxo Bank | DEGIRO | Tradestation | Tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $600 | $0 | $500 | $0 |
| Time to open account | 1-3 days | 1-3 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 with 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 | $35 | $45 |
#3 DEGIRO
Markets and products
At DEGIRO you can access many markets and trade with a lot of different products. CFD and forex 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 | Yes | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | No | No | No |
| Crypto | Yes | Yes | Yes | No | No |
#3 DEGIRO
Web trading platform
DEGIRO's web platform is simple and easy to use. Even beginners can easily navigate it and buy stocks. 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 | 4.0 | 5.0 | 4.0 | 5.0 | 3.0 |
| Mobile platform score | 4.0 | 5.0 | 5.0 | 5.0 | 4.0 |
| Desktop platform score | 3.0 | 5.0 | - | 3.0 | 4.0 |
#3 DEGIRO
Verdict
DEGIRO is a good choice if you want a simple platform and don’t want to spend too much on fees.
It is far cheaper than its big European competitors and only Interactive Brokers comes close to competing with DEGIRO's fees. The account opening process is also fast, you will usually have your account ready to use within a day. It is also one of the best trading platforms for Europeans.
However, its low prices come with some shortfalls. Education and research tools are limited, there is no forex trading, and you can only deposit and withdraw money 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 | 5.0 |
| 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 (cash up to $250,000) investor protection per account.
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 | • Poor customer service |
#4 Tradestation
Fees
Tradestation has low trading fees and high non-trading fees. You can choose from multiple fee structures, but you still have to pay withdrawal.
| Pros | Cons |
|---|---|
| • Low trading fees | • High non-trading fees |
| • Low stock and ETF fees | • Withdrawal fee |
| • Multiple fee structures to choose from |
| Interactive Brokers | Saxo Bank | DEGIRO | Tradestation | Tastyworks | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $0.6 | $1.0 | $0.0 |
| UK stock | $7.2 | $9.6 | $2.5 | - | - |
| EURUSD benchmark fee | $17.9 | $15.5 | - | - | - |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
#4 Tradestation
Account opening
Tradestation account opening is fully digital, user-friendly, and fast. On the other hand, the minimum deposit is $500 and multiple base currencies are only available for futures accounts.
| Pros | Cons |
|---|---|
| • Fast | • $500 minimum deposit |
| • Fully digital | • Multiple base currencies only for futures accounts |
| • User-friendly |
| Interactive Brokers | Saxo Bank | DEGIRO | Tradestation | Tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $600 | $0 | $500 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1 day |
#4 Tradestation
Deposit and withdrawal
Tradestation's deposit and withdrawal could be better. For example, you can only use bank transfer and there is a high withdrawal fee. On the upside, the deposit is free and you can choose from multiple base currencies with a futures account.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | • High withdrawal fee |
| • Slow withdrawal - over 3 days |
| 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 | $35 | $45 |
#4 Tradestation
Markets and products
Tradestation gives you access to a wide variety of US products, but its non-US market coverage is not competitive. Forex, CFDs and cryptos are missing.
| 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 | Yes | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | No | No | No |
| Crypto | Yes | Yes | Yes | No | No |
#4 Tradestation
Web trading platform
Tradestation has a good web trading platform. It is user-friendly and it looks nice, and it provides a two-step verification. On the flip side, 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 | 4.0 | 5.0 | 4.0 | 5.0 | 3.0 |
| Mobile platform score | 4.0 | 5.0 | 5.0 | 5.0 | 4.0 |
| Desktop platform score | 3.0 | 5.0 | - | 3.0 | 4.0 |
#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. Lastly, education is well-structured and high-quality.
On the other hand, the deposit and withdrawal are not user-friendly and you can use only bank transfer. There is no forex trading, and the customer service is of poor quality.
Feel free to try Tradestation if you prefer trading on US markets. We recommend it for buy and hold investors with some experience.
| Tradestation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, a top-tier US regulatory body. |
| Fees score | 4.0 |
| 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 upcoming US broker focusing on options trading.
The people behind Tastyworks are the experts who built thinkorswim, now operated by TD Ameritrade. Tastyworks is privately owned, established in 2017 with its headquarters in Chicago.
Recommended for options and futures traders focusing on us markets
| Pros | Cons |
|---|---|
| • Low trading fees | • Only US options, futures, and stocks |
| • Great educational materials | • Deposit and withdrawal should be improved |
| • 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 withdrawal fee.
| 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 | $0.6 | $1.0 | $0.0 |
| UK stock | $7.2 | $9.6 | $2.5 | - | - |
| EURUSD benchmark fee | $17.9 | $15.5 | - | - | - |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
#5 Tastyworks
Account opening
Tastyworks account opening is user-friendly, fast and fully digital. You can open your account without a required minimum.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| Interactive Brokers | Saxo Bank | DEGIRO | Tradestation | Tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $600 | $0 | $500 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1 day |
#5 Tastyworks
Deposit and withdrawal
Tastyworks's deposit and withdrawal could be better. Although there is no deposit fee and it is user-friendly, you can use only bank transfer and the fee for bank transfer withdrawal is high.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • User-friendly | • High withdrawal fee |
| • Only one account base currency |
| 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 | $35 | $45 |
#5 Tastyworks
Markets and products
At Tastyworks you can trade with US stocks, ETFs, options and some futures.
| 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 | Yes | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | No | No | No |
| Crypto | Yes | Yes | Yes | No | No |
#5 Tastyworks
Web trading platform
The Tastyworks web platform is great for experienced traders, especially if you concentrate on options. On the other hand, it takes time to learn its functionalities, and its customizability is limited.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Price alerts | • Limited customizability (for charts, workspace) |
| • Order confirmation | • Not beginner-friendly |
| Interactive Brokers | Saxo Bank | DEGIRO | Tradestation | Tastyworks | |
|---|---|---|---|---|---|
| Web platform score | 4.0 | 5.0 | 4.0 | 5.0 | 3.0 |
| Mobile platform score | 4.0 | 5.0 | 5.0 | 5.0 | 4.0 |
| Desktop platform score | 3.0 | 5.0 | - | 3.0 | 4.0 |
#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 is a US broker, hence its investor protection scheme is excellent. Trading fees are low, with free stock and average options trading fees. Its trading platform is aimed at experienced options traders, it can be intimidating for starters. However, its educational and research tools are great for learning. The deposit and withdrawal processes could be better and a demo account would be also great for practicing purposes.
As there is no minimum deposit, no inactivity or monthly fee, and the account opening is seamless, 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 | 5.0 |
| 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 you know the top 5. You are probably curious about 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 in the Wolf of Wall Street movie. They were checking the stocks' prices while holding a telephone and shouting. Everything changed after the internet appeared. Nowadays if you want to buy Apple shares, you open online an account, deposit money, and make the order through the brokers' online platform. These brokers are the online brokers. Online brokers help you buying and selling securities, like stocks. After making your order, the online broker executes it immediately. Everything is online.
Are these brokers safe?
You can be sure none of them is a scam. They are regulated by top-tier regulators. Some of them are also listed on an exchange, and some have a banking background.
However, also brokerage companies can go down. Remember Lehman Brothers? In these cases, it is important to know what happens with your securities and cash. These are usually held in segregated accounts, so even in case of a broker bankruptcy, you are safe.
If everything goes very bad 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 international online brokers for a citizen in Germany?
At Brokerchooser we test online brokers more than 100 criteria, with a real account and real money. Not to overwhelm you we list the five most important criteria.
The 5 most important criteria for best international online brokers are:
| 1. Fees | The trading fee of a typical US equity trade can be 50 times higher at one online broker compared to another. Worth to check the fees. |
| 2. Account opening | Some online brokers require a minimum to invest, others don't set a minimal first-time deposit. Check out what the best online brokers require. |
| 3. Deposit and withdrawal | Transferring money to your account can be 5 times longer and more expensive at one online broker compared to another. |
| 4. Products and markets | You want to invest in Amazon and Bitcoin? They might not be available. Check the product coverage before opening an account. |
| 5. Trading platform | A user-friendly and well-equipped trading platform can significantly increase your trading comfort. |
Best international online brokers for citizens in Germany
Bottom line
You saw the details, now let's zoom out. Here are the best international online brokers of 2020 for citizens in Germany:
| Interactive Brokers | Saxo Bank | DEGIRO | Tradestation | Tastyworks | |
|---|---|---|---|---|---|
| Overall score | 4.9 | 4.8 | 4.7 | 4.7 | 4.7 |
| Best in | Best online broker | Best forex broker | Best discount broker | Best app for stock trading | |
| Fees score | 4.0 | 3.0 | 5.0 | 4.0 | 5.0 |
| Account opening score | 3.0 | 3.0 | 5.0 | 5.0 | 5.0 |
| Deposit and withdrawal score | 3.0 | 5.0 | 3.0 | 2.0 | 2.0 |
| Markets and products score | 5.0 | 5.0 | 4.0 | 2.0 | 2.0 |
| Web platform score | 4.0 | 5.0 | 4.0 | 5.0 | 3.0 |
| Visit broker | Visit broker | Visit broker | Visit broker | Visit broker |
Interactive Brokers is our winner, the best international online broker in Germany of 2020. Wide range of products. Many great research tools. Regulated by several authorities.
All brokers are considered a great choice. Pick the winner, or any runner-up and take the next step in your investment journey. Let us know what you think in the comment section.
Still unsure? Use the broker finder and find the best international broker for you or learn more about investing your money.
