Trade Republic vs DEGIRO (2026):
Fees, savings plans, and who wins
Two of the most popular brokers for European investors — built around completely different philosophies. Trade Republic is a mobile-first neo-broker with free savings plans, fractional shares, and banking features. DEGIRO is a no-frills execution platform founded in 2008 with access to multiple exchanges, a wider asset universe, and a longer track record. Choosing between them comes down to how you invest — and what happens when things go wrong.
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TL;DR
- You want automated savings plans — free, monthly DCA on autopilot.
- You invest small regular amounts where fractional shares matter.
- You want interest on uninvested cash and banking features in one app.
- You’re a passive ETF investor who values simplicity above all else.
- You need access to specific exchanges across Europe and the US.
- You want options, bonds, or a broader asset universe beyond ETFs.
- Customer support quality and corporate transparency matter to you.
- You make larger, less frequent lump-sum purchases.
Pros and cons
The honest summary for each platform before we go deeper.
- Free automated savings plans — best in Europe for passive DCA
- Fractional shares from €1
- ~2% interest on uninvested cash (ECB-linked)
- Debit card, IBAN, and full banking integration
- Very low €1 trade fee; savings plans are €0
- BaFin-regulated, licensed bank, €100,000 deposit guarantee
- Uses PFOF — execution routed through Lang & Schwarz, not exchanges directly
- Customer support is widely criticised: no phone, slow chat
- Privately held — no audited public financials
- No joint, children’s, or business accounts
- Limited access to specific exchanges (all orders go via L&S)
- Younger company: founded 2015, shorter track record
- Publicly listed (flatexDEGIRO AG, Frankfurt SE) — audited financials, more corporate transparency
- Access to 18+ exchanges including NYSE, NASDAQ, LSE, Euronext
- 5,000+ ETFs and broad product range including bonds and options
- No PFOF — routes orders directly to exchanges
- Better customer support: phone + multilingual email
- Founded 2008 — one of Europe’s most established low-cost brokers
- No savings plans — all orders placed manually
- No fractional shares — whole units only
- No interest on uninvested cash
- No debit card or banking features
- 0.25% FX markup on foreign currency trades
- Core Selection ETFs now primarily routed through Tradegate
Feature snapshot
The differences that matter most for a long-term European investor.
| Feature | Trade Republic | DEGIRO |
|---|---|---|
| Founded | 2015 (Berlin) | 2008 (Amsterdam) |
| Publicly listed | No — private company | Yes — Frankfurt Stock Exchange (flatexDEGIRO AG) |
| Trade fee (ETFs) | €1 per manual trade (settlement fee) | €0 + €1 handling (Core Selection / Tradegate) €3 total otherwise |
| Savings plans | ✅ Free, automated | ❌ Not available |
| Fractional shares | ✅ Yes (from €1) | ❌ Whole units only |
| Interest on cash | ✅ ~2% p.a. (ECB-linked) | ❌ No |
| Debit card / IBAN | ✅ Full banking features | ❌ No |
| PFOF model | ⚠️ Yes — L&S Exchange routing | ✅ No — direct exchange access |
| Customer support | Email + in-app chat only (no phone) | Email + phone, multilingual |
| Exchange access | LS Exchange / XETRA | 18+ exchanges (EU + US) |
| ETF range | ~2,700 UCITS ETFs | ~5,000+ ETFs & ETPs |
| Stocks | ~7,500+ | ~5,000+ |
| Options / Futures | ❌ No | ✅ Yes (with permission) |
| FX markup | Embedded in L&S spread (not published) | 0.25% on foreign currency trades |
| Minimum deposit | €10 | €0 |
| Custody fee | Free | Free |
| Regulation | BaFin — licensed bank | BaFin + AFM (flatexDEGIRO Bank) |
| Deposit protection | Up to €100,000 (German DGS) | Up to €100,000 (German DGS via flatex) |
What you actually pay
Neither broker is truly “free” — but the costs fall in different places depending on how you invest.
- €1 per manual trade — third-party settlement cost (Lang & Schwarz Exchange), not a broker commission.
- Savings plans: €0 — no charge on automated contributions.
- No custody fee, no inactivity fee, no annual maintenance fee.
- Revenue model: PFOF payments from L&S and the interest spread on cash balances.
- FX costs are embedded in the L&S execution spread — not published as a clean percentage.
- Core Selection ETFs on Tradegate: €0 trade + €1 handling fee. First trade per ETF per month is free; further trades cost €1 each.
- All other ETFs/stocks: €2 + €1 handling fee = €3 total per trade.
- €2.50/year per non-Tradegate exchange connectivity fee still applies for other markets.
- FX conversion: 0.25% markup — transparent and published.
- No custody fee, no inactivity fee.
Savings plans: Trade Republic’s defining advantage
This is the starkest difference between the two platforms — and for most passive investors, it’s the most important one.
- Fully automated savings plans on ETFs, stocks, and crypto.
- Set an amount (from €1), choose weekly, bi-weekly, or monthly cadence.
- Executes automatically at zero commission.
- Fractional shares mean every euro is deployed — no leftover cash.
- Removes behavioural friction — you stay invested during downturns without a login decision.
- No savings plan feature — all trades placed manually.
- Every monthly contribution requires a deliberate login and order.
- Trade fee applies each time unless on the Core Selection via Tradegate.
- No fractional shares — whole units only; residual cash sits uninvested.
- Higher behavioural risk — easier to skip contributions or react to market movements.
ETF range & exchange access
Both cover what most passive investors need — but DEGIRO goes significantly deeper for anyone who wants more control.
~2,700 UCITS ETFs covering the major index strategies: MSCI World, S&P 500, FTSE All-World, EM, small-cap, sector, factor, and sustainable ETFs. Also 7,500+ stocks, bonds, and derivatives. Orders route through Lang & Schwarz Exchange or XETRA.
You cannot route an order to a specific exchange — Trade Republic handles execution via L&S. For the vast majority of retail ETF investors, the range is sufficient. For anyone needing a specific ETF share class on a particular exchange, it can be limiting.
Connects to 18+ exchanges including Euronext, XETRA, LSE, NASDAQ, NYSE, and Borsa Italiana. 5,000+ ETFs and ETPs. Also covers bonds, options, futures, and leveraged products (with appropriate investor profile). You can choose which exchange to route your order to.
Better if you need specific ETF share classes listed on particular exchanges, invest across multiple asset classes, or want granular execution control.
Banking features & fractional shares
Two areas where Trade Republic has a clear structural lead for retail investors starting out or investing smaller monthly amounts.
- Free IBAN and bank account — receive salary directly.
- Mastercard debit card (physical + virtual) with 1% cashback in shares.
- ~2% interest p.a. on uninvested cash (ECB-linked, paid daily — rate changes with central bank policy).
- €100,000 cash deposit guarantee (German DGS — licensed bank).
- SEPA Instant transfers.
- Fractional shares from €1 — invest exact euro amounts into any ETF or stock.
- No IBAN, no debit card, no banking features of any kind.
- Uninvested cash earns no interest.
- Fund via bank transfer; withdraw via bank transfer — that’s it.
- No fractional shares — purchases in whole units only.
- At typical ETF prices (e.g. €80/unit for a MSCI World ETF), a €250 monthly contribution leaves cash sitting uninvested each time.
- No joint, children’s, or business accounts available.
PFOF and order routing: an important difference
This is a topic most broker comparison pages skip. It matters for the price you actually get when buying.
Payment for Order Flow (PFOF) means Trade Republic routes all client orders to Lang & Schwarz Exchange (a market maker) and receives payment for doing so. The market maker makes money by offering you a slightly wider spread than the mid-market price.
In practice: when you buy an ETF, you pay a slightly higher price than if you had routed directly to an exchange. The difference per trade is usually small — but it compounds over years of regular investing.
Trade Republic cannot publish a clean FX markup or execution spread — costs are embedded in the L&S price. This makes true total cost comparison difficult.
DEGIRO routes orders directly to exchanges — Tradegate, Euronext, Xetra, LSE, NYSE, and others. No payment for order flow. The fee you see is the fee you pay; exchange spreads are determined by real market liquidity, not a market maker.
This makes DEGIRO’s total cost more transparent and easier to model. The 0.25% FX markup is published and predictable.
Customer support
The quality difference between these two brokers becomes most visible when you actually need help. This is worth factoring into your decision.
- Channels: Email and in-app chat only. No phone line.
- Response times: Can vary significantly — often slow during high-volume periods.
- Languages: Support in multiple EU languages, but depth of help varies.
- Reputation: Frequently criticised across user forums (Reddit, Trustpilot) for slow, automated, or unhelpful responses on complex issues.
- For simple account issues and standard queries, the chatbot handles most things. For anything complex — a transfer, a tax document, a dispute — expect friction.
- Channels: Email and phone support, available in multiple European languages.
- Response times: Generally faster than Trade Republic for email; phone gives you a direct route for urgent issues.
- Languages: Multilingual support across their EU markets — a meaningful advantage.
- Reputation: Described as inconsistent for complex technical questions, but significantly better than Trade Republic on availability and accessibility.
- DEGIRO is publicly listed, which creates accountability and regulatory scrutiny beyond what a private company faces.
Tax reporting: what each broker provides
Neither broker handles your taxes for you. But the quality and format of reporting differs — and that matters at year end.
- Provides an annual tax report with capital gains, dividends, and transaction history.
- German investors benefit from automatic Abgeltungsteuer withholding where applicable.
- For investors in other countries (Italy, France, Netherlands, Spain etc.), you receive the report and must handle filing yourself.
- In some countries you must also declare your foreign broker account separately with local tax authorities.
- Annual overview of income, transactions, and dividends available for download.
- Dutch and German investors may benefit from some automatic withholding, but coverage varies by country.
- For most EU investors, you use the DEGIRO report as source data and file manually with your local tax authority.
- Reporting is generally clear and consistently formatted across years.
Regulation and corporate transparency
Both are regulated EU brokers. But the level of corporate transparency is meaningfully different.
- Regulated by BaFin (Germany) as a licensed bank.
- Cash deposits protected up to €100,000 under the German deposit guarantee scheme.
- Securities held in segregated accounts — protected in the event of broker insolvency.
- Private company — financial statements are not publicly available. Less external scrutiny on its financials.
- Founded 2015. Backed by major VC investors including Sequoia. Over 8 million customers across 17 EU countries as of 2026.
- Regulated by BaFin (Germany) and AFM / DNB (Netherlands) through flatexDEGIRO Bank AG.
- Cash deposits protected up to €100,000 under the German deposit guarantee scheme.
- Securities held in segregated accounts.
- Publicly listed on the Frankfurt Stock Exchange (flatexDEGIRO AG) — audited annual reports, public financial statements, and regulatory scrutiny beyond what a private company faces.
- Founded 2008. One of Europe’s largest retail brokers by user count.
Who should choose which
- Passive ETF investors following a regular DCA strategy — the savings plan feature is best-in-class.
- Anyone investing €10–€500/month where fractional shares and free automation genuinely save money.
- Investors who want to consolidate savings, investing, and everyday spending in one app.
- EU beginners who want low friction and maximum automation from day one.
- Investors who prioritise banking features — IBAN, debit card, and cash interest — alongside investing.
- Investors who need access to specific exchanges for particular ETF share classes.
- Those who trade options, futures, bonds, or structured products.
- Investors who value corporate transparency and the accountability that comes with a publicly listed entity.
- Investors making larger, infrequent lump-sum purchases where fractional shares matter less.
- Anyone for whom customer support reliability is a key deciding factor.
Yes — and many European investors do. A common setup: Trade Republic for monthly automated savings plan contributions into a core ETF portfolio, and DEGIRO for occasional lump-sum purchases in specific ETFs listed on particular exchanges, or for bonds and specialist positions. Both accounts are free to open and maintain. There is no obligation to pick just one.
Open your account
Both are free to open with no minimum commitment. Always check current fees and terms on each broker’s official site before deciding.
Go deeper
Frequently asked questions
Is Trade Republic better than DEGIRO for long-term ETF investors?
For passive investors who want automated savings plans and zero-cost investing, Trade Republic is usually the better fit. The savings plan feature alone is a significant structural advantage for anyone doing regular monthly contributions. DEGIRO suits investors who want access to multiple exchanges and a broader asset universe, but require more hands-on management. DEGIRO also has a longer track record (founded 2008 vs 2015) and is publicly listed, which some investors consider a meaningful trust advantage.
Does DEGIRO offer savings plans like Trade Republic?
No. DEGIRO does not offer automated recurring investment plans. All purchases on DEGIRO are placed manually — every monthly contribution requires you to log in and submit an order. Trade Republic’s savings plans execute automatically at zero commission, which is one of its defining features for passive investors.
Which broker has lower fees — Trade Republic or DEGIRO?
Trade Republic is generally cheaper for most EU passive investors. Savings plans are free; manual trades cost €1. DEGIRO charges a €1 handling fee for Core Selection ETFs on Tradegate (first trade per ETF per month is free, subsequent trades €1 each), and €3 total for non-core ETFs. For investors making large infrequent purchases in Core Selection ETFs via Tradegate, DEGIRO can match Trade Republic’s cost. For regular monthly contributors, Trade Republic wins clearly on total fees — and the automation removes behavioural drag on top.
Does Trade Republic pay interest on uninvested cash?
Yes. Trade Republic pays approximately 2% per year on uninvested cash at time of writing — the rate is ECB-linked and changes with central bank policy. It also offers a debit card, a full IBAN, and SEPA Instant transfers, making it function partly as a banking alternative. DEGIRO does not pay interest on uninvested cash and offers no banking features whatsoever.
Can I hold fractional shares on DEGIRO or Trade Republic?
Trade Republic supports fractional shares on ETFs and stocks from €1, making it straightforward to invest exact euro amounts on a fixed schedule. DEGIRO does not offer fractional shares — you must purchase whole units. At typical UCITS ETF prices, this means a portion of every contribution sits uninvested until you accumulate enough for another whole unit.
Which broker is safer — Trade Republic or DEGIRO?
Both are regulated EU brokers with banking licences and €100,000 cash deposit guarantees under German deposit guarantee schemes. Securities at both are held in segregated accounts. The key difference is corporate transparency: DEGIRO is publicly listed on the Frankfurt Stock Exchange (as flatexDEGIRO AG), meaning it publishes audited annual financial statements and faces independent scrutiny of its balance sheet. Trade Republic is privately held, so no equivalent public disclosure exists. Neither structure is inherently unsafe — but investors who value transparency will prefer DEGIRO’s listed status.
What is PFOF and does it affect Trade Republic investors?
Payment for Order Flow (PFOF) is a model where a broker routes client orders to a market maker in exchange for payment. Trade Republic uses PFOF via Lang & Schwarz Exchange — your orders are not routed to open exchanges. The market maker profits by offering a slightly wider spread than the mid-market price, so you may pay marginally more when buying and receive marginally less when selling compared to direct exchange access. DEGIRO routes orders directly to exchanges and does not use PFOF on ETF trades. For passive savings plan investors making small contributions, the practical impact is limited. For larger single trades it deserves more consideration.
Which broker has better customer support — Trade Republic or DEGIRO?
DEGIRO is the stronger option here. It offers phone and email support in multiple European languages with generally more consistent response quality. Trade Republic relies on email and in-app chat only — no phone line — and response times can be slow. Trade Republic’s support is frequently criticised on user forums for automated or unhelpful responses on anything beyond simple queries. For most passive investors this will rarely matter in day-to-day use. But when you need help with something complex — a portfolio transfer, a tax document, an account dispute — DEGIRO is significantly more accessible.
QuantRoutine provides educational content only. Nothing on this page is an offer, solicitation, or recommendation to buy or sell any security or to open an account with any specific broker. Investments can lose value, and past performance does not guarantee future results. You are responsible for your own investment, tax, and legal decisions. Always review each broker’s current terms, fees, and eligibility on their official website before opening or funding an account.