Investing in the stock market can be a great way to grow your wealth, but finding the right online broker can be a daunting task. In Germany, there are many options available, each with its own strengths and weaknesses.
To help you make an informed decision, we have compiled a list of the best online brokers and trading apps in Germany for 2024.
These brokers offer a wide range of financial instruments, low fees, user-friendly platforms, and regulatory compliance. Whether you are a beginner or an advanced trader, there is an online broker on this list that will suit your needs.
5 Best Online Brokers & Trading Apps in Germany
Buying stocks, options, and ETFs is getting easier for Germans, especially young people, who are starting to invest in the stock market.
We’ve looked into the best online brokers and trading apps in Germany to help you decide which one to use for managing your investments.
1. eToro
eToro is one of the best online brokers and trading apps in Germany in 2024. It offers free stock and ETF trading, seamless account opening, and social trading.
eToro is ranked third among the top 10 online brokers and trading platforms in Germany, according to BrokerChooser. It is also ranked third among the top online brokers available to German investors in 2024, according to LinkedIn.
Additionally, eToro is ranked third among the best online brokers in Germany in 2024, according to Simple Germany.
Pros:
- Free stock & ETF trading
- Learn from successful investors.
- Invest in expensive stocks with less money.
- Easy to navigate for beginners.
- Connect and discuss with other investors.
Cons:
- Fewer choices compared to other brokers.
- Hidden fees
- Higher crypto fees
- Unsuitable for experienced trader
- Risk of copy trading
2. Robomarkets
Robomarkets, a European broker, provides German investors access to various asset classes like stocks, ETFs, and CFDs. Their proprietary platform, R StocksTrader, offers advanced trading tools such as technical indicators and customizable charts.
Different account types like ECN and ProCent cater to various trading styles, including those with tight budgets. Robomarkets also offers robust customer support and educational materials, enhancing its overall appeal.
Pros:
- No commissions, competitive spreads, and volume discounts.
- Offers MT4, MT5, cTrader, and R Trader.
- CySEC and FSC licenses ensure security.
- Clean website and helpful support.
- Free withdrawals up to a certain limit.
- Available for algorithmic traders.
Cons:
- Limited asset selection.
- Higher spreads on certain accounts.
- ECN/Prime commission slightly above average.
- Limited duration for demo accounts.
- Withdrawal fees for some methods.
- Limited educational resources.
- Slow execution speeds.
3. XTB
XTB is a top online broker in Germany and serves customers all over Europe. They offer access to various financial products like stocks, ETFs, and CFDs (including forex, indices, shares, and cryptocurrencies).
Their main trading platform, xStation 5, is user-friendly and can be accessed via web browsers or mobile apps for iOS and Android devices.
xStation provides tools for analyzing the market and executing trades easily. XTB is also known for its good customer service and educational resources for traders of all levels. Just remember, trading involves risks, so be careful and invest responsibly.
Pros:
- Low fees
- Variety of assets
- Regulated broker
- Easy platforms
- Learning materials
- Useful tools
- No minimum deposit
- Interest on cash
Cons:
- Inactivity fee
- Limited research
- High CFD fees
- Overnight fees
- No partial shares
- Limited phone support
4. Interactive Brokers
Interactive Brokers is considered one of the best online brokers and trading platforms in Germany. It offers German investors an extensive array of financial instruments, including stocks, ETFs, options, and futures.
The platform is known for its advanced trading tools, competitive pricing, and flexible account options. In addition to its flagship Trader Workstation, it provides access to the IBKR Mobile app and a web-based platform for added convenience.
Other highly rated online brokers in Germany include eToro, Saxo Bank, XTB, and DEGIRO.
Pros:
- Affordable fees for trading various assets.
- Access to markets worldwide.
- Powerful software for in-depth analysis.
- Options for different types of traders.
- Ability to automate trading strategies.
- Invest in expensive stocks with small amounts.
Cons:
- The platform may be difficult for beginners.
- Only available for US stocks and ETFs.
- Few learning resources were provided.
- Charged for inactive accounts.
- Some accounts require a high initial deposit.
- Multiple tiers and additional charges may be confusing.
5. Degiro
DEGIRO is considered one of the best online brokers and trading platforms in Germany. It offers a user-friendly and comprehensive platform with incredibly low fees, making it one of the largest brokers in Europe.
DEGIRO has been recognized as one of the best brokers in Europe thanks to its low fees, customer service, and innovative platform and app. DEGIRO provides access to stocks, ETFs, options, and futures across various stock exchanges.
It is known for its basic but easy-to-use trading platforms, which are suitable even for those with little trading experience.
Pros:
- No commission for many trades.
- Trade stocks, ETFs, options, etc.
- Simple web and mobile app.
- Buy parts of expensive stocks.
- Automatically reinvest dividends.
- Basic, Custody, or Trader.
- Supervised by European authorities.
Cons:
- Limited support
- No research tools
- Inactivity fees
- Limited products
- No tax reporting
- High margin rates
- Negative interest rates
FAQs
Q1: What factors should I consider when choosing an online broker in Germany?
- Consider factors like fees, asset selection, platform usability, customer support, and regulatory compliance.
Q2: Are there any commission-free trading options available?
- Yes, many online brokers offer commission-free trading for stocks and ETFs, allowing you to trade without paying any commission fees.
Q3: Can I trade on the go using mobile apps?
- Yes, most online brokers provide mobile trading apps for iOS and Android devices, allowing you to trade anytime and anywhere.
Q4: Are there educational resources available for beginner traders?
- Many online brokers offer educational resources such as webinars, tutorials, and articles to help beginner traders learn about investing and trading.
Q5: How can I ensure the security of my funds and personal information?
- Choose a broker that is regulated by reputable authorities and offers advanced security measures like encryption and two-factor authentication to protect your funds and personal data.
