Best Online Broker your investments
The right online broker for your portfolio? – Our recommendation
Our Online Broker recommendation
These days as an investor you will have a hard time deciding which online broker is the right choice for your own portfolio. Which online broker should you choose? We will show what is important to look out for and give our recommendation.
A tip: New providers with attractive offers are constantly coming onto the market, but in the end they also put on their trousers one leg at a time and you don’t have to switch online brokers every year, as many consumers do with their electricity provider these days. Even though transferring a depot from one broker to another is not rocket science, it does involve some bureaucracy.
Comparing Online Brokers – what you should watch out for!
Fixed Fees
Ideally, there are no or only very low fixed costs for the depot in the form of a depot fee. We assume that you will operate your depot over a long period of time and therefore annual fees can add up over the years, especially if the depot fee is charged as a percentage of the depot volume.
Transaction fees
Transaction fees are incurred for each executed order, for example, when buying or selling shares or an ETF. Fees may also be incurred for monthly or quarterly execution of savings plans. Of course, the following also applies: the lower the fees, the better. However, it is also crucial how many transactions are made per month or per year. For our goal of systematic wealth accumulation, we want low fees for our selected automatic savings plan or for monthly ETF purchase. Other transaction fees, such as buying stocks on US stock exchanges, are less relevant.
Other (hidden) costs
You should make absolutely sure that there are no processing fees for deleting orders or collecting dividends. Here in particular, a dividend fee is charged regularly (monthly, quarterly, semi-annually or annually – depending on the share or ETF) and is therefore an unnecessary cost factor over the years.
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Trade Republic – Our recommendation
Pros of Trade Republic:
+ stocks, ETFs and savings plans in one App
+ you can also trade and hold Crypto
+ free savings plans and no order fees.
+ regulated by BaFin in Germany
+ deposits protected
Trade Republic is a fast-growing European Online-Broker located and regulated in Germany. They offer their services to clients all over the European Union. In order to open an account, you need an iOS or Android smartphone with an EU cell phone number and a SEPA bank account (see our current account recommendation if you need one).
