Octa will be a difficult choice for many Deutsch traders. On the one hand, it has very low trading costs, charges no fees for deposits and withdrawals, and has a great copy trading service. On the other hand, Octa is essentially unregulated in Deutschland, does not accept bank transfers or cards for withdrawals, and has a very limited range of instruments to trade compared to other brokers: 40 Forex pairs, 5 commodities, 10 indices and 39 cryptocurrencies. If you can look past these issues, you will find a low-cost broker with a fairly standard setup: Two accounts with minimum deposits of 25 USD, a slick mobile app, and a good range of trading tools. Octa also heavily promotes its wide range of bonuses, and with no ASIC regulation, it can offer leverage of 1:500 on Forex pairs.

IQ Option does not accept clients from Deutschland.  In this event, we recommend that traders looking for a broker similar to IQ Option review either eToro or FXCM.  IQ Option appeals to beginners with its unique social trading platform, low minimum deposits, and low trading costs. However, IQ option’s non-trading fees are high, and its global entity is unregulated.  IQ Option offers one live commission-free account with competitive spreads (starting at 0.80 pips on the EUR/USD) and a minimum deposit of only 10 USD.  However, while deposits are free, IQ Option charges unreasonably high withdrawal fees and an inactivity fee of 10 EUR (or equivalent) per month after 90 days of inactivity.   IQ Option’s global entity is registered in Saint Vincent and the Grenadines (SVG FSA).   The SVG FSA is not a Forex broker regulator and does not supervise any trading-related activities, but IQ Option claims to segregate all client funds from its operating capital and provides traders with negative balance protection.  IQ Option provides little in the way of market research or educational materials, forcing beginners to self-educate elsewhere.  

With a broad range of tradable instruments, excellent platform support, and fixed spread accounts, InstaForex appeals to traders who prefer predictable trading conditions. However, InstaForex's trading costs are significantly higher than average across all four of its trading accounts. A well-regulated broker, InstaForex offers trading on shares, indices, commodities, metals, energies, cryptocurrencies, futures, and over 100 Forex pairs - a much larger range than is typically available at other brokers.   InstaForex offers four live instant execution accounts, all with a minimum deposit of 1 USD. Spreads are fixed at 3 pips (EUR/USD) on its commission-free accounts and 0 pips (EUR/USD) on it's commission-based accounts in exchange for a commission of 30 USD (round turn) per lot traded.  These trading costs are significantly higher than other brokers, but don't vary with trade volume or market volatility.   Both the MT4 and MT5 trading platforms are available, alongside two of InstaForex’s own web-based platforms. It also offers numerous trading tools, including VPS hosting services, various copy trading applications, and a number of technical analysis tools.  One drawback is that the educational materials are poorly presented and lack depth, making it a poor choice for beginner traders.  However, InstaForex's market analysis materials are detailed and frequently updated to help traders make better trading decisions. 

IKOFX, also known as IKO Global Limited, is an STP broker registered in Vanuatu but unregulated. It has support for MT5 and leverage up to 1:1000 on its Mini Account. With simple account options, one-click trade execution, and optional swap-free Islamic accounts.  Intermediate and advanced traders will enjoy the updates to the MetaTrader 4 platform that IKOFX have built by themselves and can take advantage of hedging and scalping, and fast execution and minimal slippage on the ECN account.

A market maker broker, HYCM is a subsidiary of the Henyep Group, which has been involved in asset trading for over 40 years, giving potential clients an additional level of confidence in using this broker. Its various companies are regulated by the FCA in the United Kingdom, CySEC in Europe, and the DFSA in Dubai.  HYCM offers trading on more than 300 instruments, including Forex, commodities, stocks, ETFs, indices, and over 21 cryptocurrencies, a broader range than is typically seen at other brokers.  HYCM offers three live accounts which are suitable for beginners and more experienced traders.  The commission-free Fixed and Classic accounts have a low minimum deposit requirement of only 100 USD, but spreads that start at 1.8 pips and 1.2 pips (EUR/USD) respectively, which is wider than other brokers.  However, most traders will be interested in HYCM’s low cost Raw Account, with spreads starting at 0.2 pips on the EUR/USD in exchange for a commission of only 4 USD (round turn) and a reasonable deposit requirement of 200 USD.    Support is offered for both MT4 and MT5 alongside a comprehensive market education suite that is beneficial for traders of all experience levels. However, HYCM’s analysis materials are limited, forcing traders to seek market news elsewhere.