Financial Investment Broker License

Brokering financial investment products in Germany, including open-ended investment funds, closed-end funds, and other financial assets, requires a license under Section 34f of the Trade Regulation Act (GewO). The license is issued by the competent IHK (Chamber of Industry and Commerce) and covers specific product categories that you select in your application.

Requirements include passing the IHK professional competence exam (Sachkundeprüfung) with a written and practical component, personal reliability, orderly financial circumstances, and professional liability insurance with minimum coverage of 1,276,000 euros per claim (1,919,000 euros annually). Holders of equivalent financial qualifications may be exempt from the exam. Once licensed, you are entered into the intermediary register and must comply with conduct rules under the Financial Investment Intermediation Ordinance (FinVermV), including documentation duties, investment-appropriate advice obligations, and annual compliance audits.