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This article is for retail investors in Germany who want a reliable online broker for stocks, ETFs, and trading across German and international markets. You want to invest with low fees, clear tax handling, and easy ETF savings plans (Sparplan) or trade actively across exchanges. Check this guide to see which brokers suit different goals: low-cost investing, active trading, fractional shares (partial-share ownership), and built-in tax tools.
Read fast to match your investing style to the right broker. Compare fees, markets, and platform features in minutes. Use the comparison table and decision prompts below to pick one in under 30 minutes. Expect concrete numbers: fees from €0.00 to €5.00 per trade, Sparplan minimums from €1 to €25, and market coverage of 30+ to 100+ exchanges.
Quick Answer / TL;DR
- If you want ultra-low per-trade costs and a mobile-first app → pick Item 1 (Trade Republic) for a ~€1 flat fee.
- If you want global market access and advanced order types → pick Item 3 (Interactive Brokers) for 100+ markets and multicurrency accounts holding 10+ currencies.
- If you want easy ETF savings plans and commission-free ETF trading → pick Item 4 (Scalable Capital) or Item 2 (flatexDEGIRO) depending on promos and ETF lists.
- If you want social trading and fractional crypto/stocks → pick Item 5 (eToro) for fractional positions and social copy features.
Decide by matching your top priority: fees, market reach, or tools.
What We Looked For
Check these criteria when you compare brokers. Use the numbers to see long-term impact.
- Fees: Compare per-trade costs, custody (custody = account where securities are held) fees, currency conversion, and monthly charges. We used ranges: €0.00–€5.00 per trade, custody fees of 0%–€5 per month, and FX conversion fees from 0.10%–0.50%.
- Market access: Count exchanges and instruments. We tracked brokers with 30+, 40+, and 100+ markets. Include stocks, ETFs, bonds, derivatives, CFDs, and crypto.
- Platform & tools: Rate mobile apps, web platforms, order types, and real-time data. Note market-data fees from €2–€15 per month per exchange.
- ETF savings plans & fractional shares: Check Sparplan minimums (from €1 to €25 per month) and fractional availability (1/1000th share to fixed decimal fractions).
- Customer support & regulation: Verify EU/German regulation, phone and chat hours, and complaint channels. Expect response times from under 1 hour to 72 hours.
Compare concrete numbers, not promises. Test demo accounts where available. Prioritize fees for long-term buy-and-hold and tools for active strategies.
1. Trade Republic — €1 flat trade fee, mobile-first low-cost broker
Trade Republic is a smartphone-first broker popular with cost-conscious investors. Pay a flat execution fee of €1 per securities trade. Expect 0% custody fee for standard brokerage accounts (no monthly custody charge). Sign-up usually takes under 10 minutes. ID verification completes in 1–2 business days.
Build ETF savings plans (Sparplan) from €10 per month. Buy fractional shares (partial-share ownership) down to small euro amounts on many listed stocks. Place fast market or limit orders in seconds via the app. Expect order execution on German blue-chips within seconds on liquid markets.
Note the limitations. Advanced order types are limited beyond market and limit orders. Research tools are basic. International exchange access is smaller than full-service brokers. Expect currency conversion fees of roughly 0.25%–0.50% when trading non-euro instruments (FX fee applied on execution).
Best for: Cost-sensitive, mobile-first investors doing buy-and-hold ETFs and occasional stock trades.
Skip if: You need advanced order types, extensive research, or broad exchange access.
Key points:
– Flat execution fee: ≈€1.00 per trade.
– ETF savings plans from €10 per month.
– No custody fee: 0% custody charge for standard account.
– Sign-up time: under 10 minutes; verification: 1–2 business days.
– Fractional shares: available (buy portions from small amounts).
– Pitfall: Currency conversion fee ≈0.25%–0.50% on non-euro trades.
Watch out for: Limited advanced orders and fewer international exchanges compared with brokers offering 30+ or 100+ markets.
2. flatexDEGIRO — Low-per-trade fees with wider market access
Position flatexDEGIRO as a low-cost heavyweight that serves active traders and DIY investors. Pay per-trade fees starting from about €2.00–€5.00 in standard markets (fee depends on exchange and order size). Expect access to 30+ international exchanges. Some ETF savings plans run commission-free under promotions; the exact number of free ETFs varies by offer.
Use it if you want broad market access and advanced order types (stop, stop-limit, iceberg). Typical settlement for equities follows T+2 (trade date plus 2 business days). Expect order execution within seconds on liquid instruments. Margin and derivatives access often included via separate product wrappers.
Accept the trade-offs. Certain account plans impose maintenance or custody fees (for example, flat monthly fees or custody charges up to a few euros per month on legacy plans). Mobile UX is less intuitive than app-first brokers. Customer service response times range from 24 to 72 hours.
Best for: Investors wanting broad market access and low per-trade costs.
Skip if: You prefer a simple app and ultra-fast support.
Key points:
– Market access: 30+ exchanges.
– Fees starting from ≈€2.00–€5.00 per trade.
– ETF savings plans: commission-free options vary by promotion.
– Settlement: T+2 for equities (2 business days).
– Customer service: response time ≈24–72 hours.
– Pitfall: Possible custody or platform fees on certain account types.
Watch out for: Promotions change; check the active free-ETF list and any monthly or custody fees before depositing funds.
3. Interactive Brokers — Advanced trading, deep liquidity, low per-share pricing
Interactive Brokers (IBKR) is a professional-grade broker built for active traders and international investors. Expect commission structures that can be very low: per-share pricing can range from €0.00 to €0.01 per share on some plans, or low fixed minimums per trade depending on the pricing route. Choose the plan that matches your trade cadence.
Access 100+ markets and trade margin, derivatives, options, futures, and fixed income. Use advanced order types, algos, and conditional orders. Open a multicurrency account and hold 10+ currencies to avoid repeated FX conversions. FX conversions often have narrower spreads than retail brokers, occasionally below 0.10% for major currency pairs.
Prepare for complexity. The interface has a steep learning curve. Expect optional market-data subscriptions costing €2–€15 per exchange per month. Some legacy plans include inactivity or minimum-balance rules; verify your chosen account type. Typical execution latency spans sub-second to a few seconds, depending on route and instrument.
Best for: Active traders, multi-market investors, and those needing advanced tools.
Skip if: You want a simple mobile app or prefer flat-fee pricing.
Key points:
– Market access: 100+ markets.
– Commissions: from €0.00–€0.01 per share or small flat fees (plan-dependent).
– Multicurrency: hold 10+ currencies.
– Market data: subscriptions €2–€15 per exchange per month.
– Execution latency: sub-second to seconds.
– Pitfall: Steep learning curve and optional data fees.
Watch out for: Small per-share fees accumulate on very small orders; check minimums and monthly data costs before trading frequently.
4. Scalable Capital — ETF-friendly plans and subscription pricing
Scalable Capital combines robo-advisor roots with a broker product and an ETF savings plan focus. Choose between pay-per-trade pricing from €0.99 per trade or a subscription model from around €2.99 per month for reduced trade rates. Compare your expected monthly trade count to see which route lowers total cost.
Build ETF portfolios with savings plans that accept monthly deposits from as low as €1 up to €25 or more, depending on the ETF (typical lowest minimum: €1). Use fractional ETFs and fractional stocks on some plans. Access includes German exchanges and major international markets; count on 40+ markets in many configurations.
Note the caveats. Some benefits—fractional trading, reduced fees, or commission-free ETFs—require the paid subscription. Not all ETFs qualify for free purchase. Customer support is mainly digital, with limited phone slots and average response times of 24–48 hours. Tax reporting tools exist but vary by account type.
Best for: Investors who want ETF savings plans with a predictable subscription and low per-trade rates.
Skip if: You trade infrequently and prefer pure per-trade pricing without a monthly fee.
Key points:
– Pay-per-trade: from ≈€0.99 per trade.
– Subscription plan: from ≈€2.99 per month.
– ETF savings plan minimum: from €1 to €25 per month.
– Market access: German + 40+ international exchanges.
– Customer support: average response ≈24–48 hours.
– Pitfall: Key features may require subscription.
Watch out for: Do the math. If you trade fewer than a certain number of times per month, the subscription may cost more than pay-per-trade.
5. eToro — Social trading and fractional crypto/stocks
eToro positions itself for social investors who want copy trading, fractional stock exposure, and crypto access. Expect commission-free stock trading in many regions and fractional positions down to small euro amounts. Crypto trades come with spreads instead of per-trade commissions; spreads vary but often range from 0.75% to 2.00% depending on the token.
Use copy trading to replicate 1-to-1 the trades of another investor. Test strategies with virtual portfolios before risking real money. Access includes stocks, ETFs, crypto, and CFDs. Typical minimum deposit ranges from €50 to €200 depending on region and payment method. Expect platform fees for withdrawals (for example, a flat fee near €5 per withdrawal) and inactivity fees after a long dormant period (e.g., €10 monthly after 12 months of inactivity in some conditions).
Note the trade-offs. Instrument ownership differs: CFDs do not grant ownership, while underlying stock purchases do. Spreads can exceed commission-based brokers on some instruments. Regulatory oversight exists under EU rules for certain accounts, but product availability varies by country.
Best for: Social traders, investors seeking fractional stocks and crypto, and those who want copy trading.
Skip if: You prioritize lowest possible FX spreads or deep exchange coverage.
Key points:
– Fractional shares: available; buy small amounts in euros.
– Crypto spreads: commonly ≈0.75%–2.00% depending on token.
– Minimum deposit: commonly €50–€200 by payment method.
– Withdrawal fee: around €5 per transaction (platform-dependent).
– Inactivity fee: e.g., €10 per month after extended dormancy (conditions apply).
– Pitfall: Spreads and fees on crypto can add up on frequent trades.
Watch out for: Distinguish between real asset purchases and CFD positions. Check instrument type before copying trades.
6. Consorsbank / Comdirect style — Full-service German brokers (example combined features)
Consider full-service German retail banks or bank-owned brokers if you want in-branch support and integrated tax documentation. Expect custody fees that vary: 0% for some retail plans and up to €4.95 per quarter on premium plans. Per-trade fees often start from €4.95 to €9.95 for domestic trades, and reduced rates exist for online orders compared with phone orders.
Use them for built-in tax reporting that integrates with German tax authorities. Expect Sparplan minimums often from €25 per month for bank-run plans, and promotions sometimes lower this to €10. Access typically includes domestic exchanges and 30–60 international markets. Customer support commonly offers phone hours of 8–20 and in-branch appointments in many cities.
Accept the trade-offs. Higher fees will reduce returns for buy-and-hold investors. However, get access to bank-grade tax docs, paper statements, and local dispute channels. If you value human support, the extra €5–€10 per trade may be worth it.
Best for: Investors who want in-branch support, integrated tax handling, and traditional bank services.
Skip if: You want the lowest per-trade fees and app-first simplicity.
Key points:
– Per-trade fees: from ≈€4.95–€9.95 for standard trades.
– Sparplan minimums: commonly €25 per month (sometimes €10 promo).
– Custody fees: 0% to ≈€4.95 per quarter depending on plan.
– Market access: domestic plus 30–60 international markets.
– Phone support hours: commonly 8–20 local time.
– Pitfall: Higher per-trade fees for frequent traders.
Watch out for: Hidden fees like paper statement charges or special order surcharges. Always check the full fee schedule.
Comparison Table
| Broker | Typical starting fee per trade | ETF savings plan (Sparplan) min | Market access (approx.) | Best for |
|---|---|---|---|---|
| Trade Republic | €1.00 | €10 monthly | Domestic + select internationals | Mobile-first, low-cost |
| flatexDEGIRO | €2.00–€5.00 | Commission-free list varies | 30+ exchanges | Broad market access |
| Interactive Brokers | From €0.00–€0.01/share or small flat | Varies by instrument | 100+ markets | Advanced, multi-currency |
| Scalable Capital | From €0.99 per trade or €2.99/mo | €1–€25 monthly | 40+ markets | ETF-focused, subscription |
| eToro | Commission-free stocks; spreads on crypto | Varies; fractional available | Thousands of stocks & crypto | Social & fractional trading |
| Bank-owned brokers | €4.95–€9.95 | Usually €25 (promo €10) | 30–60 markets | In-branch support & tax docs |
How to Choose — decision prompts and quick scenarios
Follow these steps to pick a broker that matches how you plan to invest. Use the numbers below to estimate annual costs.
- Decide your strategy:
- Buy-and-hold ETFs with monthly Sparplans from €10 to €25: prioritize low custody and free ETF lists.
- Active trading with dozens of trades per month: prioritize per-share or low per-trade pricing (e.g., €0.01/share or €0.99 per trade).
- Multi-market or derivatives trading: choose 100+ markets and margin access.
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Social trading or crypto exposure: prefer fractional crypto and copy features.
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Run the numbers:
- Estimate monthly trades. Example: 6 trades per month × €1 = €6/month → €72/year.
- Compare subscription break-even. Example: subscription €2.99/mo = €35.88/year. If you place >12 trades per year at €0.99 vs subscription-eligible reduced rates, calculate savings.
- Factor FX costs. Example: 0.25% FX fee on a €10,000 foreign stock purchase = €25 cost.
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Include data fees. Example: €5/month market data = €60/year.
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Shortlist 2 brokers and test:
- Open demo or basic accounts when possible.
- Transfer a small amount: e.g., €100–€500 for test trades.
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Time the sign-up: average 10 minutes to 1 hour; verification 1–3 business days.
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Check tax features:
- Confirm tax reporting export formats.
- Verify custody supports German withholding and automatic tax statements.
- Expect tax-document delivery timeframes: monthly or annual statements; some brokers show real-time taxable gains.
Use these numbers in a simple spreadsheet. Compare total annual costs: commissions + FX + subscription + data fees + custody.
Watch out for: Promotional rates change. Free-ETF lists rotate. Always reconfirm current fees before switching.
Transfer and tax checklist (practical steps)
Follow this checklist when you move or open a broker account. Use the numbers to set timelines.
- Prepare ID and bank details. Expect sign-up duration: 10–60 minutes; ID verification: 1–3 business days.
- Transfer existing positions (Depotübertrag): expect broker-to-broker transfer times of 5–15 business days. Fees: sometimes €0–€25 depending on broker.
- Close old accounts only after transfer completes. Keep a paper record of transfer reference numbers.
- Set up ETF Sparplans: choose monthly amount (€1, €10, €25). Set dates and check first execution dates within 15–30 days.
- Enable tax reporting features. Download annual tax statements; expect generation within weeks after year-end or on demand.
- Budget for withdrawal fees: common flat withdrawal fee ≈€0–€5 per transfer.
Watch out for: Inactivity fees and paper statement charges. Check dormancy rules: inactivity fees often apply after 12 months of no trading.
Final decision prompts
Pick one based on your top priority:
- Lowest fixed per-trade cost and mobile simplicity → Trade Republic (€1/trade; Sparplan €10).
- Broad international access at low per-trade rates → flatexDEGIRO (€2–€5/trade; 30+ exchanges).
- Advanced tools, deep liquidity, multicurrency accounts → Interactive Brokers (100+ markets; hold 10+ currencies).
- ETF-focused with subscription pricing → Scalable Capital (€0.99/trade or €2.99/mo; Sparplan from €1).
- Social trading and fractional crypto/stocks → eToro (fractional shares; crypto spreads ~0.75%–2.00%).
- In-branch support and integrated tax docs → Bank-owned brokers (€4.95–€9.95/trade; Sparplan usually €25).
Test with small amounts first. Start a Sparplan from €1–€25 to lock in regular investing. Compare real monthly costs: commission + FX + subscription + data. Move when you see a clear annual saving of at least €50–€100 for your expected trade volume.
Use the comparison table above and the decision prompts to finalize. Pick one, open the account in under 30 minutes, and start your first trade with €10–€100 to confirm the workflow.
Keep these concrete numbers handy:
– Sign-up time: 10–60 minutes.
– Verification: 1–3 business days.
– Transfer days: 5–15 business days for Depotübertrag.
– Typical per-trade ranges covered: €0.00–€9.95.
– Sparplan minimums: €1, €10, €25 options.
– Market access ranges: 30+, 40+, 100+.
Make the choice that matches your frequency, markets, and appetite for tools. Test first, then scale.