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Best FOREX Brokers in Germany For 2022

With the number of FOREX Brokers ever increasing, FOREX trading firms are placing more emphasis on retaining their customers to protect their revenues and profitability. Customers are worried about the dangers of trading FOREX with the wrong broker. As such, they could sorely do with the guidance required to stay away from low-quality brokerage firms. For this reason, we list the best FOREX brokers in Germany today. This list is the result of a detailed review process carried out by Arincen. We also share our review methodology so traders can understand why we chose the companies we did. 

Best FOREX Brokers 2022

Here is our expert’s conclusion for top 4 FOREX brokers in Germany for 2022
Company name FXDD
Regulations
Minimum deposit $450
Main branch USA
Company name ICM Capital
Regulations
Minimum deposit 500$
Main branch United Arab Emirates
Company name XTB
Regulations
Minimum deposit 500$
Main branch UK
Company name IG
Regulations
Minimum deposit 500$
Main branch UK

What is FOREX and Why Do We Need a Broker to Trade?

It is common knowledge to established traders that the FOREX market is the largest financial market in the world at some six trillion dollars daily, only followed by the credit market. The FOREX market operates 24 hours a day and five days a week (Monday through Friday), except international holidays. Brokerage firms play a key role in this regard by enabling clients to buy and sell through a trading platform. Most trading platforms are accessible through Web and mobile format.

How Do I Choose the Best FOREX Broker in Germany?

Germany is the largest economy in Europe and has forged an excellent reputation as a highly advanced economy that is business-friendly. The Federal Financial Supervisory Authority (BaFin) is a financial oversight body with the responsibility to regulate financial organizations operating in Germany. As a regulator, BaFin is known to enforce the most stringent regulatory standards to maintain the integrity of the German financial markets. 
FOREX brokers operating in Germany must be regulated by BaFin. However, it is entirely plausible that German traders can deal with non-BaFin regulated FOREX brokers. This is because, as an EU member state, Germany accepts that brokers domiciled in other EU member countries can offer their services to German nationals.
For any trader, whether they enlist with a German-based FOREX broker or an EU-based broker, verifying the broker’s regulation is an important first step. Once you are satisfied that the broker is regulated by a reputable authority, you can move on to checking how the broker fares against its peers in areas like platform strength, access to markets, liquidity, leverage and customer service. Beyond these factors, many traders assess brokers by the number of accounts they offer, the level of research and education they offer and the order execution speed they provide.
Best forex broker in Germany

FOREX Regulations in Germany

FOREX brokers in Germany must be regulated by BaFin. This respected regulator oversees not only FOREX trading companies, but also financial organizations from the broader industry, such as banks, pensions funds and insurance companies.
Germany is a powerhouse economy and one of the main contributors to the European Economic Area (EEA). As per EEA financial sector agreements, all brokers regulated under the Markets in Financial Instruments Directive (MiFID) can provide their services in Germany without establishing operations in the country.
This means that brokers regulated by the UK’s Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySEC) are free to enlist German nationals as customers. BaFin’s regulatory guidelines work hand-in-glove with MiFID, as do those of the FCA and the CySEC, meaning there is a common set of best practices observed within each regulator.
Germany sets a high bar in terms of minimum operating capital for FOREX brokers. This is a deterrent to all but the most serious players. BaFin requires brokers to keep anywhere from €750,000 to €5,000,000 in capital, depending on the size of their operation. It is for this reason that if a FOREX broker already has CySEC regulation, they are happier to observe its less onerous capital requirements while still being able to win German clients. Germany is also thought to have a high tax structure, which makes it less attractive when compared to a low-tax jurisdiction like Cyprus that can still offer strong regulation.

Commissions and Fees in Germany 

A first step in FOREX trading is identifying the spread differential, defined as the difference between the bid (sell) price and the ask (buy) price of a currency pair. While most FOREX currency pairs are traded without commission, the spread is one “cost” that applies to any trade that you place. This is, indeed, the biggest source of profit for the FOREX broker. Good companies typically offer a EUR-USD spread of three basis points. 
As for commissions, FOREX trading brokers can be placed in three categories. The first offer fixed spreads, while the second tender variable spreads and a third category of companies offers low-cost spreads but that come with a (relatively high) fixed commission.  

Tradable Assets and Instruments

Germany is an advanced free-market economy. As such, traders have access to all the usual financial markets. Traders can invest in financial instruments like cryptocurrencies, stocks, mutual funds, bonds, commodities, and exchange traded funds (ETF), in addition to FOREX.

Payments, Deposits and Withdrawals in Germany

Transacting from your FOREX account in Germany is very simple. The banking industry in this country is highly developed and secure. All payment providers in the value chain are mature enough to offer comprehensive services. As such, all major payment methods are accepted by local brokers. These include credit and debit cards, wire transfers, and all major eWallets.

FOREX Trading Customer Service

As timing is key to FOREX trading, you must pick a brokerage firm that is able to provide good customer support around the clock. This most notably includes the company representatives being easy to reach, fast and polite, which will, in turn, spare you of having to worry about problems down the road. 

Technical Aspects of the Broker’s Website

When it comes to sharing sensitive personal information online, such as a credit card, cyber security is paramount. You should, therefore, always look for SSL certification and two-factor authentication (especially when registering with a new site).    
To provide our users with peace of mind, we at Arincen have introduced the “Company Checker,” which is an online tool directly linked to an international Website called Scamadviser. The latter is an independent site that checks the countries in which these FOREX Websites are managed, where the server is located, in addition to other security and informational aspects. It ranks FOREX firms by granting them a score ranging from 0% to 100%, with the best FOREX firms usually receiving a score of 90% and above. Any company that has achieved a score lower than 85% should thus be avoided. Simultaneously, when looking for a new FOREX broker, users must ensure its Website is fast, modern and user-friendly

Trading Platforms, Tools and Features

Most FOREX traders demand access to the fastest networks that can support high-volume trades. German traders are no different. To this end, Germany is well suited to handle advanced electronic communications network (ECN)-enabled brokers that require the most advanced technology to provide institutional-grade execution speeds. 
The majority of FOREX brokers in Germany offer MetaTrader’s MT4 platform. This is the platform of choice for many FOREX traders as it is a well-developed product that was designed for the sole purpose of trading FOREX. After many years on the market, the platform has a range of detailed charts and helpful indicators that are superior to its rivals. Traders can deploy their own expert advisors (EA) to carry out their trading strategies more efficiently.

Ask Other Traders on Our Network

Arincen has created a collaborative environment where traders of all experience levels come to meet. After all, Arincen’s goal is to simplify the world of trading. Our Website provides a range of powerful tools, like our market-leading signals, rolling news and a cooperative community, where traders of all levels can learn from each other.

How to Check if Your Broker Is Trustworthy ?

At the get-go, it is important to learn more about regulatory bodies and their role in the FOREX market. These are government entities charged with regulating the sector. Their role is two-fold:
1. Observing and regulating the work environment in the FOREX market; and
2. Protecting investors and their funds.
FOREX firms must at least obtain one license from a relevant regulatory authority. Otherwise, they should be avoided at all times. In this context, we present the five most important FOREX market regulatory bodies from around the world.
1. The FCA, UK;
2. The Swiss Financial Market Supervisory Authority (FINMA);
3. The Australian Securities and Investments Commission (ASIC);
4. The Financial Markets Authority, New Zealand; and
5. The National Futures Association (NFA), US.
While FOREX market regulatory bodies exist in almost every country, these are the most important five and also the strictest. To learn more about other regulatory bodies, please visit en.arincen.com, where you will find a comprehensive global database.     

How to Verify that Your Broker has Authorization

To check if a FOREX broker is regulated by BaFin, start by finding the BaFin registration number from the broker's home page. From there, you can look up the registration number on the financial register available on BaFin’s Website to confirm if the broker is currently licensed in Germany.
In this introduction, we took a look at the best FOREX brokers in Germany. We began by identifying the best five FOREX brokers in the country, listing and ranking them by their Arincen trustscore. We then briefly described the regulatory environment governing these companies (more on this later in the article). Finally, we advise readers how they should go about ensuring that the broker they are looking into is licensed by a tier-1 regulator, such as the UK’s FCA, and, therefore, deemed trustworthy.

The Dos and Don’ts of FOREX Brokers

One of the first things a new FOREX trader ought to do is to check the extent to which the FOREX company abides by the rules and regulations governing its operation. Emphasis must be placed on what it can and cannot do.
There are seven things brokerage firms cannot do:
  1. The FOREX brokerage firm cannot recommend a buy or sell;
  2. The FOREX brokerage firm must not provide price or market expectations (rise/fall);  
  3. The FOREX firm cannot control your financial dealings (deposit/withdrawal);
  4. The FOREX brokerage firm should not “manage” your portfolio under any circumstance;
  5. The FOREX brokerage firm cannot grant a client a bonus unless there are clear terms guiding it from beforehand;
  6. The brokerage firm must not use bank accounts not under its name; and
  7. FOREX brokerage firms cannot have or offer the service of account managers.
In short, the role of brokerage firms is strictly confined to facilitating buyers and sellers to come together toward an agreed-upon commission. FOREX brokerage firms that violate any of the seven rules aforementioned should be avoided. However, should the trader wish to receive any of the above-mentioned services, our advice is to seek an expert Website like Arincen, something we will delve into toward the end of this article.   

FOREX Trading Scams and How to Avoid Them

BaFin does an excellent job of creating an operating environment in which it is almost impossible for FOREX scams to proliferate. All major stakeholders in the German financial system can report financial misconduct through multiple channels. BaFin makes a point of diligently investigating each instance of alleged misconduct. The regulator is not afraid of issuing stiff fines and penalties to guilty parties.
Visitors to the BaFin Website have access to a well-developed online platform that carries a deep repository of resources designed to provide the latest information on trending scams and how to avoid them. BaFin carries extensive reporting information of every licensed FOREX broker so that would-be traders are not left wanting for information on a particular broker before engaging with them. 
Furthermore, consumers have access to channels through which they can initiate complaints and tip-offs relating to suspicion of fraudulent activity or scams. In light of this, traders operating in the German financial system can consider themselves well protected from FOREX scams.

Will Your Money Be Protected if Your Broker Becomes Insolvent?

BaFin encourages parties in a financial dispute to reach an out-of-the-court settlement before it becomes involved. If this is not possible and a matter requires arbitration, it can be referred to the German Financial Ombudsman or a court of law. BaFin also retains the right to hear certain cases under the right conditions and decide if compensation is owed to a consumer due to bad practice on behalf of a financial institution.
As a measure of last resort, BaFin runs a deposit protection and investor compensation scheme up to a maximum of €100,000, provided that qualifying conditions are met. Traders engaging with a German FOREX broker should ensure they understand in detail the requirements of the scheme.
German nationals working through an FCA-regulated broker are entitled to compensation of up to £85,000 through the Financial Services Compensation Scheme (FSCS). German nationals working through a CySEC-regulated broker are entitled to compensation of up to €20,000 through the Investor Compensation Fund (ICF).

What Tools and Platforms Should FOREX Brokers Offer?

FOREX brokers are in a constant battle to provide the most beneficial tools that help traders succeed. Chief among these is the trading platform, which is the de facto face of a broker. A trading platform is the online portal where traders can visualize market movements and make trades. As we have mentioned, many German FOREX brokers use MT4 because it has been developed specifically for FOREX trading. A handful of brokers have developed their own proprietary platforms in an attempt to improve on what is already in the market. Traders must be satisfied that they have access to the best platform for their needs.  
Beyond that, brokers must provide a variety of account types, fast execution speeds, high liquidity, flexible contract sizes, detailed market analysis, and clickable charts. Every trader is different, so they will apportion different levels of importance to each of these elements. The best brokers have made efforts to provide the best in class in all these service areas. 

Best 7 FOREX Brokers in Germany for 2022

  1. FXDD 92.15 Best Overall Broker
  2. ICM Capital 91.10 Best Deposit and Withdrawal Broker
  3. XTB 85.55 Best Customer Service Broker
  4. IG 85.45 Best Regulations Broker plus Convenient Platform
  5. Saxobank 80.09 Excellent Private Trading Platform
  6. CMC Markets 80.07 More than 9,000 Assets
  7. Think Markets 80.05 Aimed at the Audience of Traders
Take a look at our top 7 list for FOREX brokers in Germany for the year
FXDD Broker

FXDD Broker

FXDD received the highest score in our survey (92.15). One of the first FOREX companies to offer a credit card in order to allow traders to withdraw their profits, this New York-based company has the UK's FCA license under its belt. It also has a rich portfolio of assets, offers a relatively low spread, in addition to the MetaTrader4 (MT4) platform. Further, it has excellent and fast customer service, and also offers traders a variety of ways to deposit money.
Broker Evaluation 7.22
Regulatory Bodies
Minimum Deposit $450
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
Main Branch United States of America
Customer Service 24/5
Demo account Yes
Trading Platforms MT4 - MT5 - C TRADER -Web Platform

Pros

  • Established in 2002.
  • Segregated client funds.
  • Low minimum deposits.
  • No commissions on the Standard Account.
  • A choice of two account jurisdictions.
  • Multiple platform support and comprehensive market data and analysis.
  • A good range of currency pairs and other assets to trade.

Cons

  • Not available to traders in the US.
  • Relatively limited range of instruments.
  • EU-client leverage restricted to 1:30.
ICM capital Broker

ICM capital Broker

CM Capital is considered the industry leader in deposits and withdrawals, whereby each withdrawal does not take more than five business days. Moreover, the company offers its customers a handy credit card to withdraw their profits, in addition to enabling customers to use various deposit methods. The company, which is licensed by the UK's FCA, has several branches around the world. Among other things, it has a rich portfolio of assets, especially stocks, offers a low spread, as well as the ability to use MT4.
Broker Evaluation 8.11
Regulatory Bodies
Minimum Deposit 500$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
Main Branch United Kingdom
Customer Service 24/5
Demo account yes
Trading Platforms MT4 - MT5 - C TRADER -Web Platform

Pros

  • Segregated client funds.
  • Regulated by the UK’s FCA.
  • Established in 2009.
  • More than 10,000 ICM Capital users and traders.
  • Reasonable minimum deposit from $500.
  • Decent funding options.
  • No swaps.
  • MetaTrader4 (MT4) desktop and mobile download.

Cons

  • Does not allow scalping.
  • Not ASIC-regulated.
  • Relatively limited range of instruments.
  • Slow live-chat service.
  • Relatively high trading fees.
  • Limited range of trading tools and resources
XTB Broker

XTB Broker

What distinguishes XTB is the fact that it offers the best customer experience among all the companies we have surveyed. Indeed, it boasts the fastest response rate from all the companies under investigation. This is especially relevant, since the market is always on-the-go, and so you need to act fast. XTB offers lots of asset classes, as well as the ability to use the MT4 trading platform. Finally, it maintains a relatively low spread, which is suitable for quick deals.
Broker Evaluation 8.55
Regulatory Bodies
Minimum Deposit 500$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks
Main Branch United Kingdom
Customer Service 24/5
Demo account yes
Trading Platforms MT4 - MT5 -Web Platform

Pros

  • Long history of operation.
  • Globally recognized, having won multiple awards.
  • Some of the lowest FOREX spreads in the market.
  • Regulated by the FCA (UK).
  • Offers protection for client accounts.
  • Emphasis on customer service.
  • Excellent support, learning and research tools.

Cons

  • Does not accept US clients.
  • Non-FOREX spread costs are relatively high.
  • No GSLO.
  • No back-testing or automated trading capabilities.
  • Conditions vary according to regulation and entity.
ig markets Broker

ig markets Broker

IG is arguably the best broker when it comes to security and trust, boasting, as it does, licenses from 10 regulatory bodies, including the all-important FCA from the UK. The company is also a bank and is a publicly traded company in London. It is known for offering more than 10,000 asset classes of currencies, commodities, future contracts, ETFs, indices, cryptocurrencies etc. Further, it has its own state-of-the-art trading platform and offers a relatively low spread.
Broker Evaluation 7.54
Regulatory Bodies
Minimum Deposit 250$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks
Main Branch United Kingdom
Customer Service 24/5
Demo account Yes
Trading Platforms Proprietary Platform -MT4 - Web Platform

Pros

  • Easy-to-navigate platform that is simple for beginners to master.
  • Margin rates are easy to understand and affordable.
  • Mobile and tablet platforms offer full functionality of the desktop version.
  • Accepts US clients.
  • Access to more than 100 currency pairs
  • Emphasis on education and research.
  • Regulated by the FCA (UK), as well as the CFTC and the NFA (US).
  • Offers protection for UK/EU client accounts.

Cons

  • US traders can currently only trade FOREX.
  • No GSLO for US-based traders.
  • No account protection for US clients.
  • Relatively high share-CFD fees.
  • No copy trading or back-testing integration on IG platform.
SAXO BANK Broker

SAXO BANK Broker

Saxobank is considered one of the best investment banks in the area of financial markets and currencies, as it offers the very best trading platform and tools from all the companies we have reviewed. Meanwhile, its spread is very low and, as such, suitable for short-term deals; and it offers a large number of asset classes, including currencies, commodities, indices etc. Finally, its customer service is excellent and very responsive to traders' needs.
Broker Evaluation 6.09
Regulatory Bodies
Minimum Deposit 10000$
Islamic Account No
Payment Methods Bank transfer - credit card
Main Branch Copenhagen, Denmark
Customer Service 24/5
Demo account No
Trading Platforms SaxoTrader

Pros

  • Extensive range of offerings.
  • Regulated by the FCA (UK) and other top regulators.
  • Great trading platform.
  • Among the industry’s best research.
  • Superior user interface.
  • Offers protection for client accounts.

Cons

  • High bond, options and futures fees.
  • Lack of emphasis on customer service.
  • Confusing instrument fee structures.
  • High minimum deposit.
  • Does not accept US clients.
  • No MT4.
  • Lacks live chat.
CMC MARKETS Broker

CMC MARKETS Broker

CMC Markets is thought of as one the best companies, offering some 9,000 asset classes that encompass currencies, commodities, indices, cryptocurrencies, bonds and stocks. The company offers a relatively low spread, the MT4 platform, and fast customer service. It is most suited for traders looking for diversity in asset classes.
Broker Evaluation 7.07
Regulatory Bodies
Minimum Deposit 0$
Islamic Account No
Payment Methods Bank transfer - credit card - Electronic Banks
Main Branch United Kingdom
Customer Service 24/5
Demo account not
Trading Platforms Proprietary Platform -MT4 - Web Platform

Pros

  • Extensive range of offerings.
  • Regulated by the FCA (UK).
  • Low FOREX fees.
  • Emphasis on education and customer service.
  • Great Web and mobile platforms.
  • Offers protection for client accounts.
  • Research amenities are industry leading.

Cons

  • Does not accept US clients.
  • Limited product portfolio.
  • High stock CFD fees.
  • High CFD spreads for certain indices.
  • Differences between Next Generation and MT4.
  • Complicated account verification.
  • No back-testing or automated trading capabilities.
think markets Broker

think markets Broker

Originally founded in New Zealand in 2010, and moving to Australia within the space of their first two years, Think Markets is a global online brokerage focusing on FOREX and CFD trading. In addition to a range of major and minor currency pairs. Think Markets has an array of CFDs on offer. This includes indices, as well as hard and soft commodities.
Broker Evaluation 8.05
Regulatory Bodies
Minimum Deposit 0$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
Main Branch Australia
Customer Service 24/5
Demo account not
Trading Platforms Proprietary Platform -Web platform-mt4- mt5

Pros

  • Beginner assistance offered through 24/6 channels.
  • Spreads are as low as 0.0 pips.
  • 24/7 expert customer service.
  • CFD shares and indices come at no extra fee.
  • Zero broker fees for FOREX trading.
  • Technical analysis and quality market information.
  • Percentage allocation management module (PAMM) and Multi-account manager (MAM) accounts available.

Cons

  • Direct share trading is on a separate platform.
  • No binary options offered.
  • Commissions charged for two account types.
  • After a strong early start, ThinkTrader user ratings have slid to 3.4 stars.
  • No US, Canada or Japan clients allowed.

Which FOREX broker has the best platform?

Many traders who prefer to use third-party platforms swear by the established MT4 platform. However, if you want to try something different and you are interested in a proprietary platform that continually pushes the boundaries of analytics and charting innovation, you can try out Saxo Bank’s proprietary platform.

Which FOREX broker charges the lowest fees?

Our findings reveal that FXDD’s ECN account offers unsurpassed low fees for entry level and experienced traders alike.

Which FOREX broker offers the most CFDs?

Based on our research, the FOREX brokers that deal in the most CFDs are CMC Markets and IG, both of which offer extensive CFD selections.

Which FOREX broker offers the most assets?

If you are the type of trader who is always on the lookout for new assets to try and you are frustrated by the limited range offered by your broker, spend some time looking into the extensive range of assets on offer from CMC and IG, two brokers synonymous with endless asset class choice.

Which FOREX broker is best for professionals?

Professional traders require services like advanced indicators, access to day trading, and advanced trading orders. If you want to trade at a professional level, look for brokers that offer MT4 that supports advanced indicators, like MACD, RSI, Moving Average, Volume, Bollinger Band, Harmonic, and Elliot Waves.

Who is Arincen and what do we do?

Put simply, Arincen is a social networking platform that brings together traders and experts to exchange expertise and ideas. Together, we evaluate the best FOREX companies in the world while offering a compressive suite of services and tools, all in one place, either via a computer or a mobile app. The platform is so rich, one can create his own private portfolio of traders and experts they like and, at the same time, follow their recommendations and investment sentiments.            
Further, thanks to Arincen, users can keep an eye on market-price developments, as well as the latest news. Users can also benefit from the network’s educational courses on offer, to say nothing of exciting Webinars – all done in a modern and fast-paced work environment. Get all that you need in one place, not less, not more. In short. Arincen: We Meet to Simplify the Trading World.    

Conclusion

If anything, the key message to take away from this article is that the FOREX brokerage firm one picks must be legally licensed and well-regulated. On a final note, it is never advisable to deal with FOREX companies on your own. It is best this is done with the help of industry experts, who can provide you with all the services FOREX companies cannot. Start trading using Arincen and enjoy all the services, advice and tools it has to offer while making your trading experience profitable!

Arincen’s Review Methodology

The team at Arincen collected more than 120 pieces of data covering in excess of 100 licensed FOREX companies. Data collection was done in three ways:
  1. Companies’ Websites.
  2. Other Websites that have ranked FOREX companies.
  3. A survey questionnaire (referred to here as Survey “1”) we had sent to the companies invited to participate in the exercise. We have identified 13 criteria for our assessment, each containing several aspects and carrying its own relative weight. These include licensing, deposits and withdrawals, number of assets, etc.     
Afterward, we validated the data by:
  1. Registering with FOREX companies as a secret shopper and/or as Arincen.
  2. Survey number “2,” in which we asked these companies’ customers for important feedback and past experience.
The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were very careful in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems, e.g., Apple, Samsung, etc.
To add credibility to our research project, we sent a final and third survey (referred to here as Survey “3”) to enable participating FOREX companies to evaluate our own research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%. To learn more on how we came up with the evaluation, please click here.
Arincen’s Review Methodology

FAQ

Is FOREX trading legal in Germany?

Yes, trading FOREX trading is legal in Germany. As a highly developed free market economy, it has no restrictions on this activity.

What is FOREX?

The FOREX market is a place where worldwide currencies are bought and sold. It is a large and dynamic marketplace that requires technologically superior tools if you are to participate as a retail trader. The market operates 24 hours a day and five days a week (Monday through Friday), except international holidays.

What is FOREX trading?

FOREX trading involves buying and selling different global currencies for a profit. Retail traders select a currency pair and, in anticipation of market-driven changes in value, wait for an opportune moment to make a sale for a profit.

What costs and commissions are associated with FOREX trading?

FOREX brokers charge any combination of commissions, spreads, and financing fees. Brokers can either charge a spread (the difference between the buy and sell price of a currency pair) and include their facility fee in the spread, or they can charge only a market rate spread and levy a commission per trade outside the spread. Financing fees come into play if you hold your position overnight. You must pay a financing cost for the benefit of keeping your positions open for an extended time.

How important is good customer service in FOREX trading?

As high market availability is key to FOREX trading, you must pick a brokerage firm that is able to provide good customer support around the clock. Company representatives must be easy to reach, well-trained, and knowledgeable enough to be of use in times of difficulty.

Is FOREX trading taxable in Germany?

Yes, FOREX trading is taxable in Germany. Traders must prepare an annual reconciliation of their winning trades, minus their losing trades, and declare any profits for tax purposes. As always, you should contact a tax professional to understand your full tax liability.
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Adrian Ashley
Adrian Ashley is a seasoned business and finance writer. With a corporate career spanning over 20 years, he has developed deep experience in such diverse areas as investing, business, finance, technology and macroeconomics.
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