Trade Republic broker review

Trade Republic is a German neobroker and fully licensed bank (Trade Republic Bank GmbH, regulated by BaFin) that combines investing, banking, and spending in one mobile-first platform. It offers a simple, low-cost approach: €1 flat-fee trades, free ETF savings plans, 2% interest on uninvested cash, and a free debit card with 1% Saveback. With over 12,400 stocks and ETFs, 50+ cryptocurrencies, and €100,000 deposit protection, it’s an attractive option for beginners and cost-conscious investors. This review examines safety, instruments, fees, and more to help you decide.

Trade Republic: safety and regulations

Key safety features

Customer funds are held in omnibus trust accounts at Trade Republic’s trusted partner banks, including:

• Citibank Europe plc
• Crédit Agricole CIB
• Deutsche Bank AG
• HSBC Continental Europe S.A.
• J.P. Morgan SE
• Natixis CIB
• SEB AB

Funds are protected by the deposit guarantee scheme of the respective partner bank up to €100,000 per customer. For higher balances, funds are further diversified in liquidity funds held in separate custody accounts, protected without limit.

Important: Securities in your custody account are not covered by deposit guarantee schemes—they remain your property. They are held by Trade Republic Bank GmbH in domestic and international depositories and are always yours.

Recent regulatory development

In January 2026, Trade Republic received BaFin approval to operate its own multilateral trading system (MTF). This license positions the company to adapt to the upcoming EU ban on Payment for Order Flow (PFOF), scheduled for summer 2026. PFOF currently makes up less than 30% of Trade Republic’s revenue.

Trade Republic: trading instruments

Trade Republic offers a solid range of tradable instruments. The platform is particularly strong in ETF savings plans, with over 2,600 options available—all free to execute.

Trade Republic: trading platforms

Trade Republic follows a “mobile-first” approach. The smartphone app is intuitive and well-designed, making it excellent for beginners and casual investors. However, experienced traders may find the platform lacking in advanced analytical tools, charting capabilities, and order types.

Trading hours: Orders are executed via Lang & Schwarz Exchange, open weekdays from 7:30 AM to 11:00 PM, tied to the Xetra reference market. Derivatives trading occurs over-the-counter via HSBC Deutschland between 8:00 AM and 10:00 PM.

Trade Republic: account types

Trade Republic keeps account structures simple—there is essentially one account type. The platform does not offer tiered accounts, Islamic accounts, or professional trading accounts.

Account opening requirements

To open an account, you must:

• Own a smartphone (iOS or Android)
• Be at least 18 years old
• Have permanent residence in Germany with tax liability in Germany
• Have a European cell phone number
• Have a SEPA bank account

The verification process uses video identification and takes approximately 1-3 days.

Trade Republic: deposits and withdrawals

Trade Republic’s deposits and withdrawals are user-friendly and mostly free of charge.

Pros:

• Credit/Debit card available
• Free withdrawals
• No deposit fee for SEPA transfers

Cons:

• Only one account base currency (EUR)
• 0.7% fee for deposits by credit card or e-wallet after the first free one

Key details:

• SEPA bank transfers are completely free with no limits.
• First deposit by credit card or e-wallet is free of charge.
• Subsequent deposits via credit card or e-wallet incur a 0.7% fee.
• Withdrawals are always free.
• EUR is the only available base currency. This falls behind competitors like Trading 212 and Revolut, which offer multiple base currencies.
• Processing time is typically 1-3 business days.

Interest on cash balances:

Trade Republic offers 2% p.a. interest on uninvested cash balances. Interest accrues daily, is paid out monthly, and there is no upper limit on the balance earning interest. You can withdraw your money anytime with full flexibility.

Tax note for Belgian residents: Interest earnings are subject to 30% withholding tax, reducing the effective interest rate to approximately 1.4%. Unlike Belgian regulated savings accounts, there is no tax-free allowance, and you must declare the interest yourself.

Trade Republic: fees and commissions

Fee structure explained

Trade Republic’s fee model is exceptionally simple:

• Single trades: €1 flat fee per order, regardless of order size
• Savings plans: Completely free
• No minimum order volume — you can invest as little as €1

Trade Republic card

Card benefits

• Free payments worldwide — no foreign transaction fees
• 1% Saveback — 1% of card spending invested into a savings plan (requires active savings plan of at least €50/month; max €15 Saveback/month)
• Round-up feature — automatically invest spare change from purchases
• No credit check — debit card, not a credit card

Card limitations

• A virtual card cannot be used for ATM withdrawals
• No true credit card functionality (no credit line, limited to hotel/car rental deposits)
• Requires a securities account—not available standalone

Trade Republic: review summary

Bottom line: Trade Republic is an excellent choice for beginner and casual investors in Germany who value simplicity, low costs, and an all-in-one financial app. The combination of €1 trades, free savings plans, 2% cash interest, and a no-fee card with Saveback is hard to beat.

Best for:

• First-time investors with small amounts (start from €1)
• ETF savers wanting free monthly plans
• Users seeking a single app for banking, investing, and spending