Trade Republic Fees: The Complete Guide

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You use or consider Trade Republic. You trade stocks, ETFs, savings plans, or use the card. You live in Europe. You are a DIY investor doing 1–100 trades per year. You automate recurring investments. This article maps every stated fee and the common hidden-cost pathways. Check explicit costs, implicit spreads, FX handling, card and ATM rules, and cash interest. See where the advertised €1 flat fee applies. See which services are 0 € (free). Learn which charges or opportunity costs can add up to tens or hundreds of euros over time.

What you get here:
– A clear breakdown of price components and examples with numbers.
– A 5-row comparison table you can scan in 30 seconds.
– Practical scenarios: single trades, monthly plans, cross-currency trades, and idle cash.
– A decision tree to pick the cheapest approach for your trading frequency and currency needs.

Use the decision tree quick rules:
– If you place ≤12 manual trades per year, prefer manual trades at €1 each only when orders are large.
– If you make ≥12 small buys per year, prefer automated savings plans at 0 € execution.
– If you trade non-euro instruments or deposit non-euro cash, check FX pricing and card fees first.

Quick Answer / TL;DR

• If you make manual trades occasionally → expect €1 explicit fee per trade plus an implicit spread. Typical combined cost for a €1,000 order: €2 total or ~0.2% if spread is 0.1% and explicit fee is €1.
• If you use automated savings plans → 0 € execution fee per plan. A €50 monthly plan invests €600/year with €0 execution cost.
• If you hold non-euro assets or deposit non-euro cash → check FX handling. FX can add 0.5%–1.0% or a fixed per-share fee in specific markets.
• Card and ATM rules → ATM withdrawals free above €100. Card options: virtual card free, classic card one-time €5, mirror card one-time €50.
• Watch idle cash → interest may be small or zero. €100 idle for 30 days at 0.5% annual interest generates about €0.13 interest. The opportunity cost can exceed explicit fees for frequent small contributions.

Comparison table

Pricing Basics — €1 per Trade and 0 € Savings Plans

State the headline.
– Manual equity and ETF trades carry a headline €1 flat fee per trade.
– Savings plans (automated recurring buys) execute with 0 € execution fee.
– Distinguish types: a manual single order is one-off. A savings plan executes repeatedly at set intervals.

Concrete examples.
– One manual trade costs €1 explicit fee. Place 1 trade per month and you pay €12/year.
– A €50 monthly savings plan invests €600/year. Execution fee = 0 €, so €600 is fully invested before market moves.
– A €25 monthly plan invests €300/year. Execution fee = 0 €.

Fee structure nuances.
– Some markets use per-share pricing instead of a flat euro charge. Typical alternative: $0.005 per share, minimum $1, maximum 1% of trade value.
– Use per-share pricing examples: buy 1,000 shares at $0.005 per share = $5, but min $1 would apply if the math yields less.
– For a €10,000 market order, a 1% cap would mean a max fee of €100 in extreme cases where per-share math would exceed that cap.

When €1 is cheaper vs when 0 € plans win.
– Use €1 trades when you place infrequent large orders. Example: one €5,000 order costs €1 explicit + tiny implicit spread.
– Use savings plans when you make small, frequent contributions. Example: 24 manual buys of €25 would cost €24 in explicit fees. Automated plan costs 0 €.

Watch out for: many small manual buys.
– Calculate a pitfall: 12 manual buys of €25 = 12 × €1 = €12 explicit fees per year. That equals 4% of the €300 invested. Automate to avoid this.

Order Execution and Spreads — LSX Routing and Investor Protection €20,000

Execution venue and market maker.
– Most equity and ETF orders route to Lang & Schwarz Exchange (LSX).
– Lang & Schwarz acts as market maker (firm that provides liquidity).
– Market making can create an implicit spread (difference between displayed mid price and execution price).

Quantify the spread with examples.
– Example 1: A €1,000 order with a 0.1% implicit spread costs €1 in spread.
– Add the €1 explicit fee and total cost ≈ €2. That equals 0.2% of the €1,000 trade value.
– Example 2: If implicit spread is 0.05% on a €2,000 order, spread cost = €1. Add €1 explicit = €2 total, or 0.1%.

Order types, fills, and latency.
– Orders fill at best available price present at execution.
– Typical latency is measured in milliseconds; expect fills in tens of ms to low hundreds of ms under normal conditions.
– Partial fills can occur. Large orders above certain sizes, e.g., >€10,000 or >€50,000, may walk prices or show greater slippage.
– For illiquid names, slippage can be material.

Slippage examples for thinly traded stocks.
– Small-cap trade illustration: 0.5%–1.0% slippage on a thinly traded stock.
– If you buy €2,000 of a thin name with 0.75% slippage, implicit cost = €15. Add €1 explicit = €16 total = 0.8%.

Investor protection and custody.
– Securities are held in segregated accounts in your name.
– Investor compensation covers up to €20,000 per client in case of broker insolvency or covered circumstances.
– Check custody and insurance for additional layers beyond the €20,000 scheme.

Watch out for: market-making risk on illiquid stocks.
– Expect 0.5%–1.0% slippage on thin names.
– Avoid placing large market orders on thinly traded instruments.
– Consider limit orders to cap slippage; limits can reduce execution certainty.

Savings Plans and Automated Investing — 0 € Execution, Contribution Sizes, and Timing

Mechanics of savings plans.
– Savings plans execute automatically at intervals you choose.
– You set amount, frequency, and instrument (ETF or stock).
– Execution fee per plan = 0 €.

Concrete plan examples.
– Example 1: €25 monthly plan = €300/year invested, 12 executions at 0 € each.
– Example 2: €100 monthly plan = €1,200/year invested, 12 executions at 0 € each.
– Example 3: €50 monthly plan = €600/year invested, 12 executions at 0 € each.

Timing and idle cash.
– Contributions arrive as cash before execution. The idle window depends on timing.
– Idle window typical range: 0–30 days from deposit until plan execution.
– Example idle cost: €100 idle for 30 days at 0.5% annual interest yields ~€0.13 interest.
– Compare the €0.13 gain to a €1 explicit fee. For small contributions, idle cash opportunity cost can surpass explicit costs.

Fractional shares, minimums, and dividend handling.
– Savings plans often allow fractional shares, so €25 can buy fractions.
– Minimum plan amounts commonly start at €10 or €25 depending on market and instrument. Check the platform for exact minimums on your instrument.
– Dividend payouts from plan-held ETFs may be credited as cash or reinvested depending on instrument settings and local tax rules. Confirm how dividends are handled for each ETF or stock.

Partial buys and missed contributions.
– If your deposit is below the minimum on execution, the plan may skip or defer the buy.
– If an automated debit fails, expect a missed execution and possible delays of 1–30 days.

Watch out for: missing a scheduled contribution.
– Cost example: miss one €100 monthly payment. You lose the potential market exposure of €100.
– If the market rises 5% annually, one missed month corresponds to roughly 0.41% lost on €100 ≈ €0.41 in missed gains.
– Repeated misses multiply the cost.

FX, Non-Euro Assets and Card/ATM Rules — Hidden Paths for Fees

FX conversion basics.
– Trade Republic displays instruments in their trading currency.
– If you trade a USD-quoted ETF from a EUR deposit, a FX conversion happens.
– FX can be explicit or implicit: either a fixed conversion fee or a spread on the exchange rate.

Quantify FX costs.
– Example FX implicit margin: 0.5% on conversion. Converting €1,000 costs €5 in FX margin.
– Example 2: 1.0% margin on €5,000 conversion costs €50.
– A frequent trader converting currency monthly could pay hundreds per year.

Card and ATM pricing.
– Trade Republic offers a Visa debit card with IBAN.
– Card options: virtual card = €0 one-time fee; classic plastic card = €5 one-time; mirror card = €50 one-time.
– ATM withdrawals above €100 are free. Withdrawals under €100 may incur limitations or fees from third-party ATMs.
– Use the card for non-euro purchases with caution. FX at POS may apply the same implicit margin as trades.

Account cash interest and opportunity cost.
– Trade Republic may pay interest on uninvested cash. Rates vary.
– Use conservative example: 0.5% annual interest.
– Example: €1,000 held idle for 30 days at 0.5% = €1.37 interest.
– If interest is 0%, the opportunity cost equals the full foregone market return.

Watch out for: repeated FX conversions.
– Frequent conversions add up. 12 monthly conversions at 0.5% on €500 each = 12 × €2.50 = €30/year.
– Prefer native-currency savings plans to avoid conversions.

Detailed Worked Examples — Calculate Real Cost per Trade

Scenario A — Single €1,000 equity buy, manual:
– Explicit fee: €1.
– Implicit spread: 0.1% = €1.
– Total cost: €2.
– Percent cost: 0.2% of €1,000.
– Compare to another broker charging 0.2% explicit: you match but pay split between explicit and implicit.

Scenario B — Small recurring buys, manual vs automated:
– Manual: €25 × 12 = €300 invested. Explicit fees: 12 × €1 = €12.
– Automated: €25 monthly plan = €300 invested. Execution fees: 12 × €0 = €0.
– Savings plan advantage: save €12 and avoid extra implicit spread from repeated small market orders.

Scenario C — Non-euro ETF, €2,000 buy:
– FX margin: 0.5% = €10.
– Implicit spread: 0.1% = €2.
– Explicit fee: €1.
– Total cost: €13 = 0.65% of €2,000.

Scenario D — Thin-stock slippage on €2,000:
– Slippage: 0.75% = €15.
– Explicit fee: €1.
– Total cost: €16 = 0.8%.

Decision tree — pick the cheapest approach

Start here. Answer quickly.
– Step 1: How many trades per year?
– ≤12 trades → Prefer manual trades for large sizes. Check spreads.
– 13–100 trades → Use a mix. Automate repeated small buys.
– >100 trades → Consider a low-cost broker structure with volume discounts.
– Step 2: What are your trade sizes?
– Average trade ≥€1,000 → €1 explicit fee is minor. Check 0.05%–0.2% spread.
– Average trade ≤€500 → savings plans often beat manual trades.
– Step 3: Do you trade non-euro assets?
– Yes → Check FX margin; calculate 0.5%–1.0% potential cost.
– No → Focus on spreads and frequency.
– Step 4: Do you hold cash often?
– Yes → Check cash interest. Use interest-bearing account or invest sooner.
– No → Concentrate on per-trade costs.

Checklist to apply your decision tree:
– Count expected trades per year (enter a number).
– Multiply manual trades × €1 to get explicit fee total.
– Estimate implicit spread as 0.05%–0.2% for liquid ETFs, 0.5%–1.0% for small caps.
– Add any FX margin percentage (0.5%–1.0%) for non-euro flows.
– Compare automated plan savings vs manual explicit fee total.

Practical tips and cost-saving hacks

• Automate small contributions. Save explicit fees: €12/year saved on 12 monthly €25 buys.
• Use limit orders for illiquid names. Cap slippage to avoid 0.5%–1.0% hits.
• Batch trades where possible. One €5,000 order costs the same €1 explicit as a €1,000 order.
• Avoid unnecessary FX conversions. Convert larger blocks less often to reduce FX margin costs.
• Watch deposit timing for savings plans. Move cash close to the execution date to cut idle days from 30 to 0.
• Use the free virtual card if you need an IBAN without a one-time €5 or €50 charge.

Closing — Final steps you can take right now

• Count your trades. If you plan ≤12 manual trades, calculate explicit fees: number × €1.
• Calculate typical implicit spread for your instruments. Use 0.1% for ETFs as baseline.
• Estimate FX needs. Add 0.5% per conversion as a conservative FX margin.
• Choose execution route:
• If you do frequent small buys (<€500 each), pick savings plans at 0 € per execution.
• If you place infrequent large buys (≥€1,000), manual €1 trades may be best.
• Set an idle-cash rule. Keep uninvested cash under a target, e.g., €500, for no more than 7 days.
• Track costs for 12 months. Log explicit fees, estimated spreads, and FX charges. Compare totals to confirm your choice.

You now have all core numbers to compute your actual cost per trade. Test a few scenarios with your expected trade count, average trade size, and currency exposure. Compare manual €1 trades, 0 € savings plans, and FX-sensitive flows. Make the choice that minimizes total cost across explicit fees, spreads, FX, and idle-cash opportunity cost.