Essential tools and resources for stock trading in Germany
It’s estimated that over 1 million people actively trade stocks in Germany. This number has doubled since the global financial crisis of 2008 (Bundesverband Deutscher Banken, 2014).
While there are various books and guides all over the internet on getting started with stock trading in the Germany stock market, this article will cover some of the essential resources needed for beginner traders to start their investment journey.
Not only should investors familiarize themselves with German laws and regulations guiding stock trading, but they should also equip themselves with tools and resources to help them make wise investments.
The market may move quickly, so having access to up-to-date data could be the critical factor between profit and loss. Similarly, German laws can be complicated for individuals new to the market.
Here is a list of resources that can get you started on your investment journey in Germany.
Google finance – Forex analysis & stock quotes
Google Finance is one of my favourite sites when it comes to getting accurate currency conversions between Euro and U.S. Dollars, in addition to getting access to stock quotes in real-time for 500 exchanges worldwide (markets open 24/5).
One unique feature I like about this site is how it allows you to track specific stocks or sectors via their custom watchlist, which provides vital information such as market cap, price change percentage, trading volume over the past 52 weeks etc.
Furthermore, you can backtest your stock trading strategy by running a five-year simulation. It is an excellent feature for up-and-coming traders to test the feasibility of their strategies before risking real money.
Google Scholar – investment research
Believe it or not, many students are doing dissertation papers on stocks and markets just like yourself! No matter what kind of investment you’re looking for, chances are that someone has already done it and published their results in some form or another (most likely as a paper).
You can access these studies via Google Scholar, which makes searching for specific topics related to finance much more accessible. Just type in what you’re looking for, and voila, instant gratification!
0800portal – company information & annual reports
In Germany, all companies have to publish their annual reports on a specific website called 0800portal, essentially the German equivalent of the SEC EDGAR database in the U.S. This site is a treasure trove as investors can access everything from company financials and filings to news announcements and press releases.
Furthermore, you can download annual reports for free with just a little digging around. A quick Google search or two usually will bring up an official link where you can download the raw .pdf file directly onto your desktop.
Saxo Trader Go
SaxoTraderGO is an innovative and user-friendly trading platform that offers many tools to traders. The mobile app version of this service also provides excellent features, such as stocks, ETFs, bonds, forex CFDs plus the ability open tax advantageous SIPP or ISA accounts.
The extensive range of products offered by Saxo includes everything you need for your investment strategy: equities (company shares), property mortgages , foreign exchange markets and also including crypto like Bitcoin.
Interactive Brokers – stock trading app
Interactive Brokers offers top tier stock trading tools at meagre rates, making it one of my top favourites when it comes to investing online in stocks. As of this writing, their commission rate is $0.005/share with a min of $1 and a max of $5 per transaction.
The only catch to using Interactive Brokers is that they are not available for use in Germany, so German traders will have to get acquainted with other web-based alternatives.
JFD brokers – online stock trading app
If anyone out there has tried trading stocks on their mobile device or tablet, then the chances are that you’ve heard of JFD brokers before. JFD Brokers is one of the biggest online brokerages in Europe, and they happen to offer very competitive rates on stock trading. They often run deals where you can get commission-free trades within a specific time frame, so make sure you keep your eye open when investing online in Germany!
Interactive brokers – currency trading app
If you’re looking to trade currencies, then the chances are that Interactive Brokers will be able to accommodate your needs quite nicely. Like their stock-brokerage services, their foreign exchange platform is top-notch with low minimums ($10) and highly competitive commission rates (as low as .005%).