Online Brokers Germany 2026 — 12 providers in a structured comparison
Twelve online brokers available in Germany in a structured comparison: BaFin status, order and savings-plan fees, asset universe, tax service and security — as at June 2026 after the ECB rate cut.
Scored against our publicly documented methodology. All fee figures as at 6 June 2026.
Germany's broker market has settled in 2026. Neobrokers with EUR 1 flat fees, branch banks with full service, and specialist discount houses share a field that has been further unsettled by the European Central Bank's rate cut on 5 June 2026, which took the main refinancing rate to 1.75%. Falling interest paid on cash sweep accounts is shifting the price comparison in favour of brokers offering genuine call-money rates; at the same time, the EU's DLT pilot regime is starting to show up in the first tokenisation offerings reaching retail.
We reviewed 12 online brokers available in Germany against uniform criteria: supervisory status, fees on orders, savings plans and custody, asset universe, tax service, security and app quality. We scored only providers holding a BaFin licence or equivalent EU supervision (credit institution or investment firm), accessible to German retail investors without workarounds.
Overview: 12 brokers in direct comparison
| # | Provider | Supervision | Xetra order | Savings plan | Custody fee | Crypto | |----|----------------------|---------------------|------------------------|--------------|-------------|--------| | 1 | Trade Republic | BaFin | EUR 1.00 | EUR 0 | EUR 0 | yes | | 2 | Scalable Capital | BaFin | EUR 0.99 (Free) / EUR 0 (Prime+) | EUR 0 | EUR 0 | yes | | 3 | Flatex | BaFin | EUR 5.90 flat | EUR 0 | EUR 0 | no | | 4 | DKB | BaFin | EUR 10.00 flat | EUR 0 | EUR 0 | no | | 5 | ING DiBa | BaFin | EUR 4.90 + 0.25% (min EUR 9.90) | EUR 0 | EUR 0 | no | | 6 | Comdirect | BaFin | EUR 9.90 + variable (min EUR 14.90) | EUR 0 | EUR 0 (conditional) | no | | 7 | Consorsbank | BaFin | EUR 4.95 + 0.25% (min EUR 9.95) | EUR 0 | EUR 0 | no | | 8 | Smartbroker+ | BaFin | EUR 0 (Gettex) / EUR 4 (Xetra) | EUR 0 | EUR 0 | yes | | 9 | Justtrade | BaFin (Sutor) | EUR 0 | not offered | EUR 0 | yes | | 10 | finanzen.net Zero| BaFin (Baader) | EUR 0 (from EUR 500) | EUR 0 | EUR 0 | yes | | 11 | Maxblue | BaFin (Deutsche Bank) | EUR 8.90 + 0.25% (min EUR 17.40) | EUR 0 | EUR 0 | no | | 12 | S Broker | BaFin | EUR 8.99 + 0.25% (min EUR 16.99) | EUR 0 | EUR 0 (conditional) | no |
The table captures the headline conditions with the largest leverage for retail investors. Detailed profiles, including savings-plan terms, ETF range and weaknesses, follow below. The weighting behind our scoring is documented in the methodology.
1. Trade Republic
Since being granted a full banking licence in late 2023, Trade Republic is no longer a pure investment-firm neobroker but a BaFin-licensed bank. The app combines a securities account, call money, crypto and, since 2025, the in-house card with a saveback feature. The proposition consistently positions itself as "a single app for the whole household balance sheet". More than five million customers across the DACH region make Trade Republic the clear leader in the neobroker segment.
Fees and conditions (June 2026)
- Equity and ETF order: EUR 1 third-party cost flat
- Savings plan on equities, ETFs, crypto: EUR 0
- Custody fee: EUR 0
- Cash sweep rate: 1.75% up to EUR 50,000 (revised down following the 5 June ECB cut)
- Crypto spread: roughly 1.0% on top of the flat fee
Asset universe
More than 10,000 equities, just under 3,000 ETFs, around 500 crypto names, roughly 650 bonds and a growing derivatives offer. Trading exclusively via LS Exchange and Lang & Schwarz (24/5 outside regular exchange hours).
Tax service
Full German tax interface with automatic withholding of capital gains tax. Annual tax certificate available digitally at no cost. Austrian customers must handle offsetting independently.
Security
BaFin full banking licence, deposit guarantee up to EUR 100,000 via the Compensation Scheme. Securities held as segregated assets.
Weaknesses
- Only one trading venue for equities (LS Exchange) — best-execution debate
- Crypto holdings cannot be transferred to external wallets
- No phone service (in-app chat only)
- Bond universe smaller than at classical brokers
Best suited for
Beginners and buy-and-hold investors with small to mid-sized savings rates valuing an integrated account for securities, call money and card. Weaker for active traders requiring multiple trading venues.
2. Scalable Capital
Scalable Capital wears two hats: a neobroker (Free, Prime and Prime+ tariffs) and a robo-advisor with its own discretionary management mandate. On the brokerage side, the app competes directly with Trade Republic with two key differences: a flat-rate tariff for high-frequency traders (Prime+) and access to multiple trading venues. The Munich-based firm is BaFin-licensed as an investment firm; the custodian is Baader Bank.
Fees and conditions (June 2026)
- Free Broker: EUR 0.99 per trade, no monthly fee
- Prime+: EUR 4.99 per month flat, trades from EUR 250 free
- Savings plan: EUR 0 on ETFs (over 2,500 names), EUR 0 on equities, EUR 0.99 on crypto ETPs
- Custody fee: EUR 0
- Cash sweep on the cash account (Prime+): 1.75% up to EUR 1 million
Asset universe
Around 7,500 equities, 2,800 ETFs, nearly 400 crypto ETPs (no direct coin ownership), bonds via Tradegate and Gettex. Trading on Gettex, Xetra (with a surcharge in the Free tariff) and via home exchanges for US names.
Tax service
German offsetting and annual tax certificate are fully automated. Crypto via the ETP structure is treated like equities for tax purposes — see also Setting up a savings plan 2026 — brokers in a light comparison.
Security
BaFin supervision, segregated-asset status for securities, Baader Bank as custodian with deposit guarantee up to EUR 100,000.
Weaknesses
- Free tariff for active traders more expensive than Trade Republic
- Crypto only as ETP, no actual coin ownership
- Prime+ pays off only above roughly 50 trades per year
- App performance occasionally lags under very heavy load
Best suited for
Active investors with medium to high trade volumes (Prime+ tariff), ETF savers wanting a broad ETF universe, and investors treating crypto strictly as a securities position.
3. Flatex
Flatex (Flatex DEGIRO AG) is the oldest discount broker in the German market and, since the 2020 acquisition of DEGIRO, operationally pan-European. The app is functionally less modern than at neobrokers, but pricing is transparent and competitive for mid-sized order tickets.
Fees and conditions (June 2026)
- Equity and ETF order on all German exchanges: EUR 5.90 flat
- Savings plan: EUR 0 across all 2,000+ ETFs
- Custody fee: EUR 0
- Cash account rate: currently 0% (no call money)
- FX surcharge: 0.1% on USD/CHF/GBP
Asset universe
Over 20,000 equities, around 2,000 ETFs, a very broad bond and certificate range. Trading via Xetra, Tradegate, Gettex, all German regional exchanges and, via DEGIRO connectivity, international venues (NYSE, NASDAQ, LSE, SIX).
Tax service
Full. Loss offsetting, annual tax certificate, exemption certificates. Standard for German investors.
Security
BaFin full banking licence since the DEGIRO acquisition, deposit guarantee EUR 100,000.
Weaknesses
- No call money on cash balances — cash sits unremunerated
- App and web interface look less contemporary than at neobrokers
- Minimum fee is relatively high for very small orders
- No crypto offering (for crypto interest, see Crypto platforms Austria 2026)
Best suited for
High-frequency traders with order sizes above EUR 1,500, investors seeking an international universe (via DEGIRO connectivity), and savings-plan investors with an ETF focus.
4. DKB
Deutsche Kreditbank (DKB) is a BaFin-licensed direct bank within the Bayerische Landesbank group. The securities account is part of the DKB banking suite, offering the full breadth of a classical bank custody account — at the price of foregoing a dedicated trading app in the narrow sense.
Fees and conditions (June 2026)
- Equity and ETF order on all German exchanges: EUR 10 flat
- Savings plan on around 200 promotion funds: EUR 0, otherwise EUR 1.50 per execution
- Custody fee: EUR 0
- Cash sweep (DKB-Cash): currently 0.5% up to EUR 50,000
Asset universe
Equities, ETFs, mutual funds (around 7,000 with reduced front-end load), bonds, certificates. Trading on all German venues plus selected EU exchanges.
Tax service
Classical bank standard. Tax certificate, loss offsetting, exemption certificates.
Security
BaFin full banking licence, deposit guarantee EUR 100,000 plus voluntary safeguarding by the Association of German Public Banks (BdB) up to roughly EUR 4.8 billion per customer.
Weaknesses
- EUR 10 flat fee clearly above neobroker level
- Savings-plan universe outside the promotion list is restricted
- No standalone trading app in the narrow sense (banking-app integration)
- No crypto offering
Best suited for
Existing DKB customers preferring to hold their account at the same institution as their banking relationship, plus buy-and-hold investors without high trade frequency.
5. ING DiBa
ING DiBa is the German subsidiary of the Dutch ING Group and, with more than ten million customers, the country's largest direct bank. The securities account integrates seamlessly with the banking interface.
Fees and conditions (June 2026)
- Equity and ETF order: EUR 4.90 + 0.25%, minimum EUR 9.90, maximum EUR 69.90
- Savings plan on around 800 ETFs: EUR 0 (on the promotion list)
- Savings plan on any other ETF: 1.75% of the contribution
- Custody fee: EUR 0
- Extra-Konto rate: 1.5% on new money for 6 months, then variable
Asset universe
Equities, 1,800 ETFs, around 9,000 mutual funds, bonds, certificates, warrants. Trading on all German venues, direct trading via Lang & Schwarz, Tradegate and Baader.
Tax service
Full. Including loss offsetting; distribution of the saver's allowance across multiple accounts at the same provider is streamlined.
Security
BaFin full banking licence, deposit guarantee EUR 100,000 plus voluntary BdB safeguarding.
Weaknesses
- Minimum fee of EUR 9.90 is expensive for very small orders
- Promotion list for savings plans smaller than at Comdirect
- Variable component on large orders weighs on high-volume traders
- No crypto offering
Best suited for
Existing ING customers with medium trade volume and investors who prefer to bundle banking, savings and brokerage at one provider.
6. Comdirect
Comdirect is a subsidiary of Commerzbank and has historically positioned itself as a full-service direct broker. In 2026 the firm runs a dual strategy: classical full-service terms plus the newly launched "LiveTrading" app for active retail traders.
Fees and conditions (June 2026)
- Equity and ETF order (regular tariff): EUR 9.90 base + 0.25%, minimum EUR 14.90
- LiveTrading: EUR 3.90 + 0.25% on selected venues
- Savings plan on around 200 ETFs on the promotion list: EUR 0 — list refreshed annually
- Savings plan otherwise: 1.5% on the contribution
- Custody fee: EUR 0 with active use (one trade per quarter or a running savings plan)
Asset universe
Equities, around 2,000 ETFs, around 16,000 mutual funds, bonds, derivatives, certificates. Off-exchange direct trading via Tradegate, Lang & Schwarz, Baader, Citigroup, Société Générale, Vontobel and others.
Tax service
Full. One of the strongest in the market thanks to inclusive services like computing the mixed cost basis for legacy holdings before 2009.
Security
BaFin full banking licence via Commerzbank, deposit guarantee EUR 100,000 plus voluntary BdB safeguarding.
Weaknesses
- Regular pricing clearly above neobroker level
- EUR 14.90 minimum disadvantages small orders
- LiveTrading tariff only on selected venues
- No crypto offering
Best suited for
Full-service-oriented investors with larger portfolios, high-frequency traders via LiveTrading, and investors with pre-2009 legacy holdings who value a mature tax service.
7. Consorsbank
Consorsbank is the direct-bank subsidiary of the BNP Paribas Group and, operationally, one of the longest-standing direct brokers in Germany. The model is structurally close to ING DiBa and Comdirect, with a slight price edge over the latter and a more trader-oriented "Active Trader" tariff.
Fees and conditions (June 2026)
- Equity and ETF order (Young Trader up to age 25): EUR 2.50 flat
- Regular tariff: EUR 4.95 + 0.25%, minimum EUR 9.95
- Savings plan on around 250 ETFs on the promotion list: EUR 0
- Savings plan otherwise: 1.5% on the contribution
- Custody fee: EUR 0
Asset universe
Equities, around 2,200 ETFs, around 19,000 mutual funds, bonds, derivatives. Direct trading via Tradegate, Lang & Schwarz, Baader, Société Générale, Vontobel.
Tax service
Full. Loss offsetting, annual tax certificate, exemption certificates. Solid standard.
Security
BaFin full banking licence, deposit guarantee EUR 100,000 plus voluntary BdB safeguarding.
Weaknesses
- EUR 9.95 minimum is inefficient for very small orders
- Promotion list for free savings plans smaller than at Comdirect/ING
- Tariff structure more complex than at neobrokers
- No crypto offering
Best suited for
Full-service-oriented investors, young traders under the dedicated tariff, and existing BNP Paribas customers.
8. Smartbroker+
Smartbroker+ is the 2023 relaunch of the original Smartbroker (Wallstreet Online). The platform combines a neobroker price structure with the classical securities universe of Baader Bank as custodian. A proprietary crypto module is being integrated in 2026.
Fees and conditions (June 2026)
- Order via Gettex: EUR 0 from EUR 500 order size (otherwise EUR 1)
- Order on Xetra: EUR 4 + exchange fees
- Savings plan on around 1,500 ETFs: EUR 0
- Custody fee: EUR 0
- Crypto spread: roughly 0.9%
Asset universe
Over 15,000 equities, around 2,000 ETFs, mutual funds, bonds, certificates. Crypto in a limited selection (around 15-20 coins) with no external wallet functionality.
Tax service
Full via Baader Bank as custodian.
Security
BaFin supervision via Baader Bank, deposit guarantee EUR 100,000.
Weaknesses
- Free orders on Gettex only from EUR 500 — smaller contributions pay EUR 1
- Crypto module younger and functionally narrower than at specialised providers
- App functionality still under build-out in places
- No out-of-the-box tax reporting for Austrian investors
Best suited for
Mid-sized orders from EUR 500, savings-plan investors wanting a broad ETF range, and investors holding crypto as a sideline in a classical brokerage environment.
9. Justtrade
Justtrade is a German neobroker offering consistently commission-free trading on equities, ETFs and crypto. The custodian is Sutor Bank, whose BaFin licence underpins the supervisory structure. The model is deliberately lean — with one striking hurdle: a minimum deposit.
Fees and conditions (June 2026)
- Equity and ETF order: EUR 0 commission-free via Quotrix, LS Exchange, Baader
- Savings plan: not offered
- Custody fee: EUR 0
- Minimum deposit: EUR 500
- Crypto spread: roughly 0.30%
Asset universe
Around 5,000 equities, roughly 1,000 ETFs, about 20 coins. No bond offering, no derivatives, no savings plan.
Tax service
Via Sutor Bank, full for German investors.
Security
BaFin supervision via Sutor Bank, deposit guarantee EUR 100,000.
Weaknesses
- No savings plan — unsuitable for cost-averaging strategies
- EUR 500 minimum deposit excludes very small entrants
- Coin selection limited
- No self-custody, no external wallet transfers
Best suited for
One-off investors with order sizes from EUR 500 deliberately operating without a savings plan and seeking commission-free trading.
10. finanzen.net Zero
finanzen.net Zero is a neobroker co-founded by the eponymous finance portal, with Baader Bank as custodian. The platform addresses German-speaking retail investors looking to bundle equities, ETFs and crypto in a lean interface.
Fees and conditions (June 2026)
- Equity and ETF order: EUR 0 from EUR 500 order size (otherwise EUR 1)
- Savings plan on around 800 ETFs: EUR 0
- Custody fee: EUR 0
- Crypto spread: from 0.69%
Asset universe
Around 7,000 equities, 1,800 ETFs, roughly 25 coins, bonds via direct trading.
Tax service
Full via Baader Bank.
Security
BaFin supervision via Baader Bank, deposit guarantee EUR 100,000.
Weaknesses
- Free order only from EUR 500 — smaller tickets pay EUR 1
- Coin selection limited versus specialist providers
- No self-custody, no external wallet transfers
- App feature set more sober than at Trade Republic
Best suited for
Beginners with an equity focus willing to add crypto as a small sideline, plus investors who already use the finance portal.
11. Maxblue
Maxblue is the direct broker of Deutsche Bank and is essentially a full-service offering without a standalone app proposition. Conditions sit at the upper end of the market; in return, integration with Deutsche Bank accounts and wealth- management structures is seamless.
Fees and conditions (June 2026)
- Equity and ETF order: EUR 8.90 base + 0.25%, minimum EUR 17.40, maximum EUR 49.90
- Savings plan on selected ETFs (around 250): EUR 0, otherwise EUR 1.25 + 0.2%
- Custody fee: EUR 0
- Cash account rate: 0%
Asset universe
Equities, around 1,500 ETFs, around 8,000 mutual funds, bonds, certificates, warrants — primarily from the Deutsche Bank universe.
Tax service
Full, bank standard.
Security
BaFin full banking licence via Deutsche Bank, deposit guarantee EUR 100,000 plus voluntary BdB safeguarding.
Weaknesses
- EUR 17.40 minimum — the highest in the comparison
- Promotion list for savings plans smaller than at Comdirect/ING
- Unremunerated cash account
- No crypto offering
- App functionality dated versus neobrokers
Best suited for
Existing Deutsche Bank customers valuing bundling and a mature advisory integration. Not a sensible choice for price-sensitive investors.
12. S Broker
S Broker is the online broker of the Sparkassen-Finanzgruppe. The platform addresses primarily Sparkassen customers wanting an independent securities account without switching provider.
Fees and conditions (June 2026)
- Equity and ETF order: EUR 8.99 base + 0.25%, minimum EUR 16.99, maximum EUR 41.99
- Savings plan on around 250 ETFs on the promotion list: EUR 0, otherwise 2.50% of the contribution
- Custody fee: EUR 0 with active use (one trade per quarter or a running savings plan)
- Cash account rate: 0%
Asset universe
Equities, around 1,700 ETFs, around 10,000 mutual funds, bonds, certificates, warrants. Connectivity to all German exchanges plus selected EU and US venues.
Tax service
Full, bank standard via DekaBank and Landesbanken.
Security
BaFin full banking licence, deposit insurance via the Sparkassen-Haftungsverbund (institutional protection) — one of the strongest safeguarding systems in the market.
Weaknesses
- EUR 16.99 minimum — second-highest in the comparison
- Promotion list for savings plans limited
- Unremunerated cash account
- No crypto offering
- App functionality dated versus neobrokers
Best suited for
Existing Sparkassen customers wanting a standalone securities account and valuing the Sparkassen safeguarding system. Not appropriate for pure price optimisers.
What has changed in 2026
The ECB's cut of the main refinancing rate to 1.75% on 5 June 2026 works on two levels. First, banks offering call-money-like conditions on their cash accounts (Trade Republic, Scalable Capital Prime+) typically pass the cut through within days. Second, for ETF savings plans with a long horizon the rate environment remains historically modest — cash balances on cash accounts lose real purchasing power unless they earn interest. Investors with larger cash buffers should think about broker choice and call-money strategy together; see Setting up a savings plan 2026 — brokers in a light comparison.
In parallel, the EU's DLT pilot regime is moving closer to retail reality. The first tokenised bonds will become tradable via mainstream brokers in 2026; the question of which providers cover this segment early may become a comparison criterion of its own by 2027. For the state of crypto regulation, see the entry on MiCA and the parallel comparison Crypto platforms Austria 2026.
Frequently asked questions
Which broker is the cheapest in 2026?
For standard orders up to roughly EUR 1,000, Trade Republic (EUR 1 flat) and Smartbroker+ (EUR 0 via Gettex from EUR 500) are the price leaders. For high-frequency traders above about 50 trades per year, Scalable Capital Prime+ at EUR 4.99 per month becomes mathematically attractive. Classical direct banks like DKB, Comdirect and ING DiBa are competitive only at order sizes above EUR 3,000.
Are savings plans available at every broker?
Savings plans are offered at eleven of the twelve providers scored here. Justtrade is the exception — the platform offers only one-off orders without automated repetition. The free allowance varies significantly: neobrokers (Trade Republic, Scalable Capital) offer EUR 0 on virtually all ETFs, while classical banks waive fees only on a limited promotion list and otherwise charge 1.5% to 2.5% of the contribution.
What is the typical custody fee?
In the retail segment, custody fees are uniformly EUR 0 in 2026. Comdirect and S Broker tie the free maintenance to a minimum activity threshold (one trade per quarter or a running savings plan). Investors who hold the account purely passively should check this condition before switching.
What does the ECB rate cut mean for broker choice?
Following the cut of the main refinancing rate to 1.75% on 5 June 2026, the advantage of brokers with call-money-like cash accounts over external call-money providers narrows. Investors temporarily parking larger cash reserves should compare the broker's cash account (Trade Republic, Scalable Prime+) with stand-alone call-money providers.
How safe are neobrokers compared to direct banks?
All scored providers are subject to BaFin supervision (direct or via partner banks) and rely on the German deposit guarantee up to EUR 100,000 per customer. Securities are in any case segregated assets, separated from the broker's balance sheet in an insolvency. The Sparkassen institutional protection (S Broker) and the voluntary safeguarding of the Association of German Banks (DKB, ING DiBa, Comdirect, Maxblue) go well beyond the statutory minimum.
Which brokers offer crypto directly inside the account?
Direct crypto trading inside the securities account is available at Trade Republic, Smartbroker+, Justtrade and finanzen.net Zero. Scalable Capital offers crypto only as an ETP, i.e. a security without actual coin ownership. Direct banks (DKB, ING DiBa, Comdirect, Consorsbank, Maxblue, S Broker) currently have no integrated crypto offering.
Which broker is suitable for Austrian customers?
All providers scored here are German brokers; they are formally also usable by Austrian retail investors, but without an Austrian tax service. Investors must declare capital gains independently (Beilage E1kv). Investors wanting an integrated Austrian tax report should look at Austria-based providers — see the Crypto comparison Austria 2026 and the article Buying ETFs in Austria — a 2026 guide.