Germany's CFD/FX market has grown by 3% to 63,000 active traders, marking the first positive turn after three years of decline.
However, the numbers remain 25% below the COVID-era peak of 84,000 reached in 2021.
The evolving trader profile shows more entrants now coming to CFDs from derivatives and cryptocurrency backgrounds.
Germany's
leveraged trading market has reversed course, growing 3% to reach 63,000 active
CFD and forex traders in the 12 months to February 2025, according to a new
report from market research firm Investment Trends.
The
increase marks the first positive growth after three consecutive years of
contraction following the pandemic-driven peak in 2021.
German CFD/FX Trading
Market Grows for First Time in Three Years
The number
of traders in Germany's CFD/FX market remains 25% below the COVID-era high of
84,000 recorded in March 2021, but the latest figures suggest the market may
finally be stabilizing after a prolonged adjustment period.
Lorenzo Vignati, Associate Research Director at Investment Trends
“This
marks an important turning point for Germany's CFD/FX market,” said
Lorenzo Vignati, Associate Research Director at Investment Trends.
“The market has weathered a difficult period of contraction, but we're now
seeing signs of sustainable recovery.”
However,
63,000 is still a relatively small number compared to
the 1.8 million active online investors in Germany, according to a separate
report by Investment Trends published in early April. The report also showed
that as many as 16% of respondents had changed or were in the process of
changing their broker.
The rebound
in the FX/CFDs client base has been driven by a combination of factors, including
the reactivation of dormant traders and improved retention rates. The report,
based on a survey of 11,680 investors conducted between January and February
2025, revealed changing dynamics in how new participants enter the leveraged
trading market.
From ETFs to CFDs
While
shares and ETFs remain the primary gateway to trading for most Germans (72%),
the pathways are diversifying. Among new entrants to CFD/FX trading, 33% now
come with experience in listed derivatives and 27% arrive from cryptocurrency
markets—signaling an evolution in trader profiles and expectations.
“The
profile of the new leveraged trader in Germany is evolving,” Vignati
noted. “They're arriving more informed, more product-aware, and with
different expectations of what a trading platform should deliver.”
The German
market's recovery comes after a period of significant volatility. After
reaching a pandemic-driven peak of 84,000 traders in March 2021, the market
experienced three consecutive years of decline, with dormancy rates fluctuating
between 37% and 39%. This year's positive growth suggests the market may have
found its footing after the extended correction period.
“Cross-Sell Appetite in
Germany Is Strong”
The report
also highlighted the significant untapped potential for brokers to cross-sell
products. Despite 84% of German CFD/FX traders expressing openness to using
additional services from their main provider, only 26% of multi-asset traders
currently consolidate their trading and investing on a single platform.
This
disconnect points to a substantial opportunity for trading platforms that can
create more seamless experiences.
“Cross-sell
appetite in Germany is strong, but the experience gap is real,” said
Vignati. “To unlock value, providers need to build platforms that
genuinely integrate trading and investing.”
Moreover,
the German leveraged trading market has demonstrated resilience over the long
term, growing from 51,000 traders in April 2012 to the current 63,000—representing 23.5% growth over 13 years despite significant fluctuations along
the way.
Germany's
leveraged trading market has reversed course, growing 3% to reach 63,000 active
CFD and forex traders in the 12 months to February 2025, according to a new
report from market research firm Investment Trends.
The
increase marks the first positive growth after three consecutive years of
contraction following the pandemic-driven peak in 2021.
German CFD/FX Trading
Market Grows for First Time in Three Years
The number
of traders in Germany's CFD/FX market remains 25% below the COVID-era high of
84,000 recorded in March 2021, but the latest figures suggest the market may
finally be stabilizing after a prolonged adjustment period.
Lorenzo Vignati, Associate Research Director at Investment Trends
“This
marks an important turning point for Germany's CFD/FX market,” said
Lorenzo Vignati, Associate Research Director at Investment Trends.
“The market has weathered a difficult period of contraction, but we're now
seeing signs of sustainable recovery.”
However,
63,000 is still a relatively small number compared to
the 1.8 million active online investors in Germany, according to a separate
report by Investment Trends published in early April. The report also showed
that as many as 16% of respondents had changed or were in the process of
changing their broker.
The rebound
in the FX/CFDs client base has been driven by a combination of factors, including
the reactivation of dormant traders and improved retention rates. The report,
based on a survey of 11,680 investors conducted between January and February
2025, revealed changing dynamics in how new participants enter the leveraged
trading market.
From ETFs to CFDs
While
shares and ETFs remain the primary gateway to trading for most Germans (72%),
the pathways are diversifying. Among new entrants to CFD/FX trading, 33% now
come with experience in listed derivatives and 27% arrive from cryptocurrency
markets—signaling an evolution in trader profiles and expectations.
“The
profile of the new leveraged trader in Germany is evolving,” Vignati
noted. “They're arriving more informed, more product-aware, and with
different expectations of what a trading platform should deliver.”
The German
market's recovery comes after a period of significant volatility. After
reaching a pandemic-driven peak of 84,000 traders in March 2021, the market
experienced three consecutive years of decline, with dormancy rates fluctuating
between 37% and 39%. This year's positive growth suggests the market may have
found its footing after the extended correction period.
“Cross-Sell Appetite in
Germany Is Strong”
The report
also highlighted the significant untapped potential for brokers to cross-sell
products. Despite 84% of German CFD/FX traders expressing openness to using
additional services from their main provider, only 26% of multi-asset traders
currently consolidate their trading and investing on a single platform.
This
disconnect points to a substantial opportunity for trading platforms that can
create more seamless experiences.
“Cross-sell
appetite in Germany is strong, but the experience gap is real,” said
Vignati. “To unlock value, providers need to build platforms that
genuinely integrate trading and investing.”
Moreover,
the German leveraged trading market has demonstrated resilience over the long
term, growing from 51,000 traders in April 2012 to the current 63,000—representing 23.5% growth over 13 years despite significant fluctuations along
the way.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
iFOREX Adds Saudi and South Korean Equity CFDs as IPO Is Delayed
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
