Giropay Brokers 2024
Giropay is an internet payment company based in Germany. The system enables direct transfers, meaning traders enjoy swift and secure deposits using just their online banking login details. Giropay is represented by the familiar blue and white stripe logo and is used by thousands of participating banks and merchants.
Learn more as we review the benefits, deposit limits and test accounts, plus find out how the brand compares to other options such as Skrill, Sofort or PayPal. We also list the best brokers that accept Giropay deposits in 2024.
Best Giropay Brokers
We've tested dozens of brokers and these are the top 5 that offer Giropay:
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1
RoboForex$30 No Deposit BonusRoboForex Ltd and its affiliates do not target EU/EEA/UK clients. Please be aware that you are able to receive investment services from a third-country firm at your own exclusive initiative only, taking all the risks involved.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100.01 Lots1:2000IFSCCFDs, Forex, Stocks, Indices, Commodities, ETFs, FuturesR StocksTrader, MT4, MT5, TradingViewVisa, iDeal, Trustly, Neteller, Skrill, Giropay, Sofort, Wire Transfer, Rapid Transfer, Alipay, POLi, Perfect Money, MoneyGram, Cashu, SafeCharge, WeChat Pay, Vietcombank Transfer, Volet, ecoPayz, AstroPayUSD, EUR -
2
InstaForexChoose between: Club Bonus, 30 %, 55 % and 100 % bonusesAll investments involve a degree of risk of some kind. Trading financial derivative products comes with a high risk of losing money rapidly due to leverage. You should not engage in trading these instruments unless you fully understand the nature of the transactions you are entering into, and the true extent of your exposure. These types of investments may be suitable for some investors, but they are not for everyone.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$10.10 of the lot (0.0001 of market lot for Cent.Standard and Cent.Eurica)1:1000BVI FSCCurrencies, Cryptocurrencies, Stocks, Indices, Metals, Oil and Gas, Commodity Futures and InstaFuturesMT4, MT5Skrill, Mastercard, Visa, Neteller, Wire Transfer, Przelewy24, Giropay, Rapid TransferUSD, EUR, GBP, PLN, CZK -
3
Axi81.6% of retail investor accounts lose money when trading CFDs with this provider
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:400FCA, ASIC, DFSA, FMAForex, CFDs, indices, shares, commodities, cryptocurrenciesMT4, AutoChartistNeteller, Skrill, Credit Card, Debit Card, Visa, Mastercard, JCB Card, Wire Transfer, FasaPay, PIX Payment, Maestro, Boleto, Giropay, Sofort, POLi, BPAY, iDeal, Alipay, AirtelUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD -
4
AAAFx100% Deposit Bonus (global clients)
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100.01 Lots1:30 (EU), 1:500 (Global)HCMC, FSCACFDs, Forex, Stocks, Indices, Commodities, CryptosMT4, MT5Visa, Mastercard, Skrill, Neteller, Wire Transfer, Debit Card, Credit Card, Bitcoin Payments, Przelewy24, UnionPay, Giropay, Sofort, iDeal, QIWIUSD, EUR, CAD, AUD -
5
Libertex78% of retail investor accounts lose money when trading CFDs with this provider.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
€100€20Up to 1:30 (Retail)CySECCFDs on Forex, Cryptocurrencies, Metals, Indices, Stocks, Oil & Gas, Agriculture, ETFsLibertex (and mobile app), MT4, MT5Sofort, Rapid Transfer, Credit Card, iDeal, Giropay, Neteller, Trustly, Skrill, Visa, Wire Transfer, Debit Card, PayPal, Przelewy24, PaysafecardEUR, GBP, CHF, PLN
Here is a short overview of each broker's pros and cons
- RoboForex - RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.
- InstaForex - InstaForex is a forex and CFD broker founded in 2007. The broker offers diverse market coverage to millions of clients, spanning traditional assets like currencies and shares, as well as other interesting opportunities such as IPOs.
- Axi - Axi is a global forex and CFD trading firm, founded in 2007 in Sydney, Australia. Highly leveraged trading opportunities plus a $0 minimum deposit make it a popular choice among 60,000+ traders worldwide. Axi also stands out for its resources, including copy trading and Autochartist.
- AAAFx - AAAFx is a forex and CFD broker, established in 2007 and headquartered in Greece. The company is regulated by the HCMC and FSCA and supports a selection of ECN accounts with low spreads, fast order executions and convenient deposits.
- Libertex - Libertex is a well-known broker, established in 2012. The regulated brand has served numerous clients and is regulated by the Cyprus Securities and Exchange Commission with license number 164/12. Libertex offers CFD trading on 250+ underlying assets, including through an innovative and user-friendly proprietary web trader platform. Choose between CFDs on forex, cryptocurrencies, commodities, stocks, indices and ETFs, which are available with tight spreads and low commissions.
Giropay Brokers Comparison
| Broker | Minimum Deposit | Instruments | Platforms | Leverage |
|---|---|---|---|---|
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$10 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures | R StocksTrader, MT4, MT5, TradingView | 1:2000 |
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$1 | Currencies, Cryptocurrencies, Stocks, Indices, Metals, Oil and Gas, Commodity Futures and InstaFutures | MT4, MT5 | 1:1000 |
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$0 | Forex, CFDs, indices, shares, commodities, cryptocurrencies | MT4, AutoChartist | 1:400 |
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$10 | CFDs, Forex, Stocks, Indices, Commodities, Cryptos | MT4, MT5 | 1:30 (EU), 1:500 (Global) |
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€100 | CFDs on Forex, Cryptocurrencies, Metals, Indices, Stocks, Oil & Gas, Agriculture, ETFs | Libertex (and mobile app), MT4, MT5 | Up to 1:30 (Retail) |
RoboForex
"RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists."
Christian Harris, Reviewer
RoboForex Quick Facts
| Bonus Offer | $30 No Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures |
| Regulator | IFSC |
| Platforms | R StocksTrader, MT4, MT5, TradingView |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:2000 |
| Account Currencies | USD, EUR |
Pros
- The R Stocks Trader platform rivals leading solutions like MT4, with netting and hedging capabilities, comprehensive backtesting, Level II pricing, and a flexible workspace.
- RoboForex offers over 12,000 instruments, providing more short-term trading opportunities than the vast majority of online brokers, with forex, stocks, indices, ETFs, commodities, and futures.
- RoboForex is known for its tight spreads starting from 0 pips and low minimum deposits from $10, making it accessible to those on a budget. The ability to trade with micro lots further lowers the barrier to entry for new traders.
Cons
- While RoboForex offers competitive spreads, some of its account types come with high trading commissions up to $20 per lot, trailing the cheapest brokers, such as IC Markets.
- RoboForex provides a variety of account types, which, while offering flexibility, can be overwhelming for newer traders trying to choose the most suitable option for their trading style. Alternatives, notably eToro, provide a smoother entry into online trading with one retail account.
- RoboForex now restricts base currency options to USD and EUR. This limitation may inconvenience day traders preferring to manage their accounts in other currencies, while potentially leading to conversion fees.
InstaForex
"InstaForex maintains its position as a top forex broker, with more currency products than most rivals. The tight spreads and low minimum deposits make it accessible to all experience levels, especially those familiar with the MT4 and MT5 platforms."
William Berg, Reviewer
InstaForex Quick Facts
| Bonus Offer | Choose between: Club Bonus, 30 %, 55 % and 100 % bonuses |
|---|---|
| Demo Account | Yes |
| Instruments | Currencies, Cryptocurrencies, Stocks, Indices, Metals, Oil and Gas, Commodity Futures and InstaFutures |
| Regulator | BVI FSC |
| Platforms | MT4, MT5 |
| Minimum Deposit | $1 |
| Minimum Trade | 0.10 of the lot (0.0001 of market lot for Cent.Standard and Cent.Eurica) |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP, PLN, CZK |
Pros
- The broker is a particularly good pick for serious forex traders, with over 100 currency pairs, tight spreads from 0.0 pips and a market-leading selection of curated forex market resources
- InstaForex delivers a superb day trading environment, with the powerful MT4 and MT5 platforms offering dozens of technical analysis tools, automation capabilities and multiple order types
- The broker is accessible for beginners, with low minimum deposits and zero-commission trading available.
Cons
- Customer support is available only in EN, CZ, PL, and SK.
- The broker provides trading instruments only in the form of CFDs.
- The broker’s website and client cabinet feel outdated and difficult to navigate for newcomers
Axi
"Axi maintains its position as a top forex and CFD broker for seasoned traders, with more than 70 currency pairs, raw spreads and additional benefits for high-volume trading. Beginners will also appreciate the user-friendly copy trading service and free forex eBooks."
Axi Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, CFDs, indices, shares, commodities, cryptocurrencies |
| Regulator | FCA, ASIC, DFSA, FMA |
| Platforms | MT4, AutoChartist |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:400 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Pros
- The broker's inactivity fee terms are fairly generous, only charging a $10 fee after a long inactivity period of 12 months - some brokers charge after only 3 months
- Traders can choose between 10 base account currencies plus a wide range of free deposit methods, including cryptos
- Experienced traders can benefit from the Axi Select funded trader programme, offering funding up to $1 million and up to 90% profit share
Cons
- There's a limited choice of third-party charting platforms compared to other brands, with only MT4 available alongside the proprietary app
- The Axi Select program requires a $500 minimum deposit to enter the first Seed stage
- The demo account expires after only 30 days - many alternative brokers that we test allow you to practice for 60 days or more
AAAFx
"AAAFx is best for forex traders seeking ECN conditions with spreads from zero and MetaTrader access. It’s also suitable for social traders with ZuluTrade support. However, AAAFx seriously falls short for newer traders with minimal research features and no educational tools."
Michael MacKenzie, Reviewer
AAAFx Quick Facts
| Bonus Offer | 100% Deposit Bonus (global clients) |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Cryptos |
| Regulator | HCMC, FSCA |
| Platforms | MT4, MT5 |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (EU), 1:500 (Global) |
| Account Currencies | USD, EUR, CAD, AUD |
Pros
- There are sophisticated MT4 and MT5 charting platforms for advanced day traders, featuring a huge selection of indicators, drawing tools, chart types, and analysis features.
- You get fast execution speeds from 10 milliseconds with no restrictions on strategies, creating a flexible environment for day traders.
- AAAFx supports a wide range of payment methods with near-instant funding and zero transfer fees, ensuring convenient deposits.
Cons
- There are no proprietary educational tools, relying on ZuluTrade, making AAAFx less attractive to beginners compared to brokers like eToro.
- By discontinuing ActTrader and lacking a proprietary platform, traders are limited to MetaTrader, which is outdated and less ideal for newcomers.
- The selection of currencies is strong but AAAFx lacks depth in its stocks, indices, commodities and cryptos, limiting the range of trading opportunities.
Libertex
"Libertex will appeal to both beginner and experienced traders thanks to its easy-to-use platform and low fees. The brand is also a good pick for share dealing with commission-free stock investing."
Libertex Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs on Forex, Cryptocurrencies, Metals, Indices, Stocks, Oil & Gas, Agriculture, ETFs |
| Regulator | CySEC |
| Platforms | Libertex (and mobile app), MT4, MT5 |
| Minimum Deposit | €100 |
| Minimum Trade | €20 |
| Leverage | Up to 1:30 (Retail) |
| Account Currencies | EUR, GBP, CHF, PLN |
Pros
- Helpful customer support available in multiple languages
- Very competitive pricing with low commission fees
- Accepts wide range of funding methods
Cons
- No copy trading
- Limited account options
- Lacks educational content and other features
How Did We Choose The Best Giropay Brokers?
To reveal the top Giropay brokers, we:
- Identified which firms offer Giropay from our 500-strong database of online platforms
- Checked that they support Giropay deposits and withdrawals for day trading
- Sorted them by their rating, using 100+ collected data points and findings from our rigorous tests
Giropay Overview
Launched in 2006 by Postbank (now Deutsche Postbank), Giropay is a direct digital payment system with headquarters in Frankfurt, Germany.
The service is partnered with over 1,500 participating German banks, reaching 17 million online banking customers and 60% of the commercial German banking market. Recent stats also show that Giropay accounts for more than €350 million in transaction volumes each year, giving it a modest slice of the domestic market share.
Pros Of Trading With Giropay
No Download
There is no need to download software or applications to use Giropay; you just need to ensure that you have a German current account with access to the online banking facility (usually available via your bank’s web or mobile app).
No Registration
You don’t need to register to make a deposit, so funds are transferred directly from your bank account to your trading account without any hassle. This is convenient for investors who want an easy funding process.
Fast
It is a real-time payment method so deposits are normally processed instantly. The time it takes for funds to be processed on the broker’s side may vary though, so it’s worth checking this beforehand. You can find this detail on the website of the respective broker or in our detailed reviews.
Reputable
The company has been established for nearly 16 years and is trusted by millions of German customers holding a Girocard. The payment service is also backed by Deutsche Postbank, which is a subsidiary of the multinational investment bank, Deutsche Bank. In addition, the brand supports integration and partnership with world-class payment providers such as Worldpay.
Secure
The firm uses AES 256-bit encrypted codes under TLS 1.2 for the secure transmission of data. The system is also based on PIN and TAN codes (two factors), providing maximum security before accessing your online banking. Of course, traders should also sign up with reliable and trusted trading brokers.
Free To Use
The payment service is free to use for account holders, but traders should check with their bank or broker for any additional service fees. Brokers may charge a standard fee or a percentage of the transactional volume. With that said, the best supporting trading platforms offer free deposits with Giropay.
Cons Of Trading With Giropay
Only Supports Euro
Unlike other direct payment methods such as Trustly or Sofort, Giropay only supports EUR. This may be disappointing for traders who want the option to deposit in other popular currencies such as USD or GBP.
Accessibility
Unfortunately, the system is mainly provided to traders with a German bank account. Some availability, through its banking partners, is possible outside of Germany but this is limited to Austria and Netherlands.
Investors based outside of Germany may want to consider other options, such as Trustly or Sofort.
No Buyer Protection Or Chargeback Rights
Giropay does not offer buyer protection, which means that you won’t receive as much support in a dispute as other payment services like PayPal or Klarna. It is also not possible to request a chargeback, refund or recurring payment.
Speed
The transaction process generally takes a few minutes to complete, with transfers processed instantly by the payment provider. Make sure to check with your broker for their own processing times, though. AAAFx, for example, takes up to one business day to credit Giropay deposits. There is also rapid API functionality.
Security
Not only are your bank details safe when using Giropay but your personal data is also protected. The payment provider uses robust encryption processes as well as unique PIN/TAN codes. Sensitive data is also exchanged between you and your bank only, meaning no third party can view your personal information. For security reasons, the company also has a ‘timeout’ enabled at each stage of the payment form.
How To Deposit Using Giropay
If you have a German bank account, you can make a deposit at any Giropay broker such as RoboForex in a few simple steps…
Select Giropay in the funding section of your account and enter the amount that you wish to deposit. Note that a deposit or withdrawal limit may be applied by your broker. You will be redirected to your bank’s login page which will display the transaction information.
The form will then request your TAN code which will be sent to you as verification of the payment. No TAN is required for amounts up to €30. The transaction is then processed instantly and you will be redirected back to the broker’s website with a payment confirmation.
Fees
Customers can use the service for free, however, fees may be charged by your broker depending on the payment type. For example, AAAFx and EasyMarkets offer commission-free deposits, but other trading platforms like Libertex take a small percentage (€1 to 1%) for withdrawals.
Is Giropay Good For Day Trading?
Giropay is no doubt an excellent payment option boasting several benefits such as fast deposit processing and no registration. However, the service is mainly geared towards German customers, so traders residing in countries outside of Germany, such as Canada, Australia, India or Indonesia, will need to consider other options. With that said, because of the partnerships the firm has with other banks and companies, its services are also available in Austria and Netherlands.
Overall, compared to other payment methods, such as Skrill, Sofort or Trustly, which allow for more supported countries and currencies, Giropay is not the most accessible option for global traders.
FAQ
How Does Giropay Work With My Trading Account?
The firm works by acting as the intermediary between your bank and your trading account, allowing one-time and secure access to your bank in order to collect funds directly. If you’re wondering how to use Giropay, there is a simple guide on the company’s website.
Is Giropay Safe To Use At My Broker?
The firm always uses AES 256-bit encryption throughout its transaction process. The use of PIN/TAN codes also ensures that your bank details are never shared. Still, it is worth checking what security measures are in place with your bank and your broker.
Which Currencies Are Accepted Through Giropay?
The company only supports payments in Euro, which is by definition not an issue for most users, as they are usually required to hold a German bank account to use the service. With that said, it will prove a major drawback for traders outside of Europe.