Trade Republic fees: The complete fee breakdown and how to minimise your costs

You are a European retail investor comparing low-cost brokers or checking whether Trade Republic fits your trading style. This article gives a clear, practical breakdown of every fee that matters: manual trade costs, the savings-plan model, non-trading charges, execution mechanics, and where “hidden” costs can appear. Read this if you want concrete numbers, example cost scenarios for typical trades, and a short decision guide that tells you when Trade Republic is the cheapest choice and when another setup is better.

Quick Answer / TL;DR

• If you place manual trades → expect a flat fee of €1 on Best Price orders, €2 if you pick Direct Price.
• If you use automated savings plans → pay €0 execution cost (officially free) and you can invest from €1 with fractional shares.
• If you want full control of execution across exchanges → pay €2 and may access up to 30 execution venues.
• If you worry about hidden costs → watch spreads (market maker execution), FX conversion on non-euro markets, and occasional reports of tiny per-plan fees in B2B setups.

Trading fees and execution: €1 / €2 per trade

Check the basic manual-trade pricing first. Trade Republic charges a flat settlement fee per manual order. Choose Best Price and pay €1 per trade. Choose Direct Price and pay €2 per trade. No percentage commission applies to standard equity or ETF trades under Best Price. The flat fee replaces a percentage tier that some brokers charge. Compare this to a broker that charges €3 per trade or 0.05% for larger orders. The flat model gives two numbers to remember: €1 and €2.

Use concrete examples. Buy €2,000 of a German-listed stock under Best Price. Fee = €1. Total explicit cost = €1. Buy the same €2,000 and choose Direct Price. Fee = €2. Total explicit cost = €2. Fractional investing applies when relevant. Place an order from €1 and buy partial shares. Minimum per order can be €1 on many ETFs and savings plans. Note that the flat fee scales independently of order size: a €100 trade still pays €1. That makes small manual trades expensive in percentage terms.

Decide when to pick Direct Price. Use Direct Price when you want venue transparency or to target a specific exchange. Expect access to up to 30 execution venues under Direct Price. Pay €1 extra per manual trade for that control. Expect potential price improvement if you route to a lit exchange. Accept the extra €1 when venue choice can save you more than €1 in spread or price improvement.

Watch out for execution mechanics. Many Best Price orders route to a market maker or a single exchange. That can widen the effective spread. The visible €1 fee is external settlement cost. The hidden cost is price formation (spread). A 0.1% spread on a €2,000 order equals €2. That spread may exceed the €1 commission. Compare total cost, not only commission. Factor in spread, FX fees, and possible differences in liquidity across 30 venues.

Key numbers in this section: €1, €2, €2,000, €1 minimum, 30 venues, €3 (typical competitor example), 0.05% comparator, 0.1% spread example.

Savings plans and fractional investing: €0 plan fee, €1 minimum

Use automated savings plans for recurring investing. Set frequency (monthly, biweekly, weekly). Choose an amount. Many plans allow investing from €1. The advertised execution cost is €0 per plan execution. Fractional shares let you buy partial shares to match the plan amount precisely.

Run the numbers. Invest €50 per month into an ETF. Frequency = 12 executions per year. Execution cost = €0 each. Annual execution cost = €0. Invest €1 per month. Execution cost = €0 each. Annual execution cost = €0. Fractional shares handle partial ownership. They let you buy, for example, 0.01 or 0.5 of a share. That keeps your plan precise.

Consider reported caveats. Some community posts mention a tiny per-execution fee of €0.25 in certain B2B or revenue-sharing contexts. Treat that as anecdotal. Trade Republic’s public fee schedule lists savings plans as free for retail customers. If that €0.25 applied, a monthly €50 plan would cost €3 per year (12 × €0.25). Compare that to manual trades: one manual trade each month at €1 equals €12 per year. The automated plan still wins in most cases.

Manage plan changes. Cancel or change a plan mid-cycle. Check the execution date and rules. Some changes can trigger an immediate settlement or an extra execution within the same month. Expect delays of 1 to 10 business days depending on cut-off times. Confirm exact cut-offs in the app before making urgent changes.

Key numbers here: €0 per execution, €1 minimum, €50 monthly, 12 executions, €0.25 reported small fee, €3 annual in that anecdote, 1–10 business days for timing.

Watch out for: timing quirks on cancellations and rare B2B per-execution revenues that may not affect retail pricing.

Non-trading fees and account costs: mostly €0, external settlement €1 appears

Check non-trading fees next. Custody account fee = €0. Account opening = €0. Inactivity fee = €0 for most accounts. Deposits via SEPA = €0. Withdrawals via SEPA bank transfer are typically free or negligible. The platform provides a debit card with IBAN in many markets; card issuance may be free. ATM fees and third-party bank charges can apply depending on the ATM operator.

Know investor protection numbers. Securities are held in segregated accounts in your name. Investor compensation coverage in applicable schemes equals roughly €20,000 for certain insolvency cases. That €20,000 figure is the compensation cap in the investor protection scheme that applies in specific scenarios. Check local regulator rules if you need more than €20,000 protection.

Understand the external settlement cost. Manual trades show an external settlement cost of €1 as part of the visible charge. That €1 is the flat fee for Best Price. Some examples present it as a per-trade settlement cost separate from execution mechanics. For withdrawals, expect timing from 1 to 3 business days on SEPA transfers. For card ATM withdrawals, expect percentages or fixed fees from ATM operator; these are outside the broker’s custody fee schedule.

Watch FX and cash handling. FX conversion applies when you trade non-euro instruments. Expect FX spreads or conversion fees that vary by instrument. For a $2,000 US stock buy, FX conversion costs could be 0.1%–0.5% depending on the provider. That equals $2–$10 on a $2,000 order. Also check cash interest: the platform may pay or charge variable interest on idle cash. Interest rates can be 0% or small positive rates like 0.1%–1% depending on product and balance.

Key numbers here: €0 custody, €0 open, €0 inactivity, €0 SEPA deposit, €20,000 protection, 1–3 business days withdrawals, 0.1%–0.5% FX example, $2–$10 cost on $2,000 example.

Watch out for: card and ATM fees, FX conversion, and any third-party bank charges.

Execution model and hidden costs: LSX, market maker execution, spreads and price formation (30 venues)

Understand the execution architecture. Best Price aims for best execution (flat €1). Direct Price lets you choose among up to 30 exchanges for €2. Many retail orders execute on a single regulated exchange where a market maker provides liquidity. That market maker can widen the spread compared with a lit exchange order book.

Define spread briefly. Spread = difference between the bid and the ask. A 0.05% spread on a €2,000 trade equals €1. A 0.1% spread equals €2. Those amounts add to the flat fee when you calculate total cost. For a €2,000 trade, a 0.1% spread plus €1 fee equals €3 total implicit and explicit cost.

Compare models numerically. Option A: €1 flat fee + 0.05% spread = €1 + €1 = €2 total on €2,000. Option B: competitor charges €3 fixed but routes to a lit exchange with 0.01% spread = €3 + €0.20 = €3.20 total. In this example, Trade Republic is cheaper. But flip it: if Trade Republic spread widens to 0.15% = €3 on €2,000, then €1 + €3 = €4 total, which is more than the €3 competitor.

List execution considerations:
– Best Price fee = €1 per manual trade.
– Direct Price fee = €2 per manual trade.
– Venue count under Direct Price = up to 30 exchanges.
– Typical instrument universe = ~10,000 instruments available.
– Market maker spread examples = 0.01% to 0.2% depending on liquidity.

Watch out for hidden-cost channels:
– Spread widening on illiquid stocks can be 0.5% or more.
– FX conversion for US or UK stocks may add 0.1%–0.5%.
– Small-cap and OTC trades may carry unpredictable execution slippage measured in euros per trade.

Test execution quality on your larger trades. For a €10,000 order, a 0.05% spread equals €5. For a €500 order, the €1 flat fee equals 0.2% of order value. Adjust your approach by order size.

Key numbers: €1, €2, 30 venues, ~10,000 instruments, 0.01%–0.5% spread examples, €2,000, €10,000, €500.

Practical examples: cost of a €2,000 trade and a monthly €50 savings plan

Work through two clear examples. Use precise math.

Example A — One-off equity buy:
– Order size = €2,000.
– Choose Best Price: explicit fee = €1.
– Estimate spread cost = 0.05%–0.2% = €1–€4.
– Total estimated cost = €2,001–€2,005.
– Choose Direct Price: explicit fee = €2.
– Possible venue improvement might save up to €1–€3 on spread.
– Net effect: Direct Price total could be €2,002–€2,004 depending on improvement.

Example B — Savings plan:
– Monthly plan = €50.
– Frequency = 12 executions per year.
– Official execution cost per plan = €0.
– Annual execution cost = €0.
– If a small per-execution fee of €0.25 applied in anecdotal B2B cases: annual cost = 12 × €0.25 = €3.
– Compare to manual trading: 12 manual trades at €1 each = €12 per year.
– Savings plan remains cheaper by €9 per year if the €0.25 anomaly exists.

Provide explicit minimisation steps. Use these actions to cut costs:
1. Use savings plans for recurring investments under €100. Reason: the €0 plan fee and fractional shares remove the flat-fee penalty.
2. Use Best Price for routine manual trades. Fee = €1. Save €1 per trade versus Direct Price.
3. Reserve Direct Price for large orders where venue choice can save more than €1.
4. Avoid manual trades under €100 unless you need immediate execution. A €50 manual trade pays €1 = 2% explicit fee.
5. Trade liquid euro-listed ETFs to avoid FX conversion costs of 0.1%–0.5%.

Add break-even rules:
– If an alternative broker charges €3 per trade and routing reduces spread by 0.05% on a €2,000 trade = €1 savings, Trade Republic Best Price is still cheaper (€1 + spread vs €3 + smaller spread).
– If Trade Republic’s spread increases by 0.2% on illiquid stocks, that can negate the €1 advantage.

Key numbers: €2,000, €1, €2, 0.05%–0.2% spread, €50, 12 executions, €0.25 anecdotal, €3 annual, €12 manual annual.

Watch out for: FX conversion on international stocks and debit-card ATM fees when using associated bank services.

Edge cases, limits and account rules: €1 minimum orders, fractional limits, and protection €20,000

Check product and account limits. Fractional share minimum = €1. Trading universe size ≈ 10,000 instruments. Direct Price access up to 30 exchanges. Investor compensation coverage ≈ €20,000 in specific insolvency scenarios. These numbers set boundaries you should know.

Note limitations in practice:
– Some small-cap or OTC instruments may not be available. Expect 1,000–2,000 stocks absent from the core 10,000 list in specific markets.
– Savings plans do not include every ETF. Expect a curated list of several hundred ETFs eligible for plans.
– Crypto trading exists but may use separate execution logic and spreads. Crypto spreads can be 0.5%–2% depending on market conditions.
– Tax handling is automatic for common cases, but complex tax events may need manual reporting. Expect standard dividend tax handling for most EU investors.

Manage order-size behavior:
– A €10 manual order with a €1 fee equals 10% explicit cost. Avoid tiny manual trades.
– For amounts under €100, prefer savings plans or accumulate before trading.
– For large orders (≥ €6,000), compare percentage-based models at other brokers. Some competitors reduce fees on large sizes with 0.05% or tiered pricing.

Handle custody and security:
– Securities held in your name and segregated accounts.
– Compensation scheme gives up to €20,000 in defined cases.
– Confirm the limits if you hold very large positions or professional portfolios.

Key numbers: €1 minimum, ~10,000 instruments, 30 exchanges, €20,000 protection, 1,000–2,000 potential gaps, several hundred ETFs in plans, 0.5%–2% crypto spreads, €6,000 threshold referenced by other brokers.

Watch out for: disproportionate percentage cost on very small manual orders and different fee structures for crypto or exotic bonds.

Comparison table section — fee snapshot and quick comparison

Closing decision guide (short)

• Use Trade Republic if:
• You invest regularly with savings plans of €1–€500.
• You trade liquid euro ETFs and stocks.
• You want predictable flat fees of €1 / €2 per manual trade.

• You value a simple app and fractional shares down to €1.

• Skip or test alternatives if:

• You trade very small manual orders under €100 frequently.
• You need guaranteed routing to lit exchanges or deep pre-trade analytics.
• You trade large international positions where FX fees or spread could exceed €1 per trade.

Final checklist to minimise your costs

• Use savings plans for recurring amounts under €100. Saves €12–€120 per year compared to monthly manual trades at €1 each.
• Use Best Price for routine manual trades. Save €1 per trade versus Direct Price.
• Choose Direct Price only when venue control can save > €1.
• Avoid tiny manual trades where €1 equals a high percentage of the order.
• Trade euro-denominated, highly liquid ETFs and blue-chip stocks to keep spreads in the 0.01%–0.05% range.
• Check FX conversion rates when trading non-euro instruments; 0.1%–0.5% can add more than the flat fee on many trades.
• Monitor account notifications for any changes to plan execution timing (1–10 business days) or fee policy.

You now have a clear fee map with concrete numbers: €1, €2, €0 plan executions, €1 minimum order, up to 30 venues, ~10,000 instruments, and ~€20,000 investor protection. Use the rules above. Test a few trades. Compare total cost (fee + spread + FX). Optimize your routine accordingly.