Trade Republic

Trade Republic

Trade Republic is a Berlin-based neobroker and digital bank that has become Europe's largest savings platform, enabling users to invest in stocks, ETFs, bonds, and cryptocurrencies while earning competitive interest on uninvested cash. Founded in 2015, the platform combines commission-free investing with banking services including a Visa debit card offering 1% Saveback rewards. With over 8 million customers and €100 billion in assets under management across 17 European countries, Trade Republic holds a full European banking license from the ECB and operates under BaFin and Deutsche Bundesbank supervision.

Company Overview

Trade Republic was founded in Munich in 2015 under its original name Neon Trading as part of the Comdirect Bank startup incubator. The company's founders are Christian Hecker (philosopher), Thomas Pischke (physicist), and Marco Cancellieri (computer scientist). Hecker and Pischke met as university students at Ludwig-Maximilians-Universität München in 2011.

In 2017, Düsseldorf-based Sino AG made an initial investment of €600K and acquired a majority stake. The founders bootstrapped from 2017 to 2019, launching with a trading competition for university students before meeting with additional investors.

Trade Republic has raised approximately $1.3 billion in total funding through multiple rounds. Key investment rounds include a €62 million Series B in April 2020 led by Accel and Founders Fund, a $900 million Series C in May 2021 led by Sequoia Capital at a $5.3 billion valuation, and a €250 million Series C extension in June 2022 led by Ontario Teachers' Pension Plan, bringing the valuation to €5 billion.

Major investors include Sequoia Capital, TCV, Thrive Capital, Ontario Teachers' Pension Plan, Accel, Founders Fund (Peter Thiel), Creandum, Project A Ventures, and Sino AG. Partners include HSBC, BlackRock, solarisBank, and BitGo Europe.

Trade Republic received a full European banking license from the ECB in December 2023 and has maintained profitability through both fiscal and calendar year 2024. The company is headquartered in Berlin with approximately 1,200 employees and generated €35 million in annual revenue as of August 2025.

Product Overview

Trade Republic offers an all-in-one platform for investing, saving, and spending through its mobile app and web interface. The platform provides access to over 11,000 international stocks and ETFs, 500+ bonds, 50+ cryptocurrencies, and 10,000+ derivatives—all tradeable from €1.

Key platform features include automated savings plans with no per-trade fees, fractional shares starting from €1, real-time market data, customizable watchlists, and a high-yield cash account earning interest linked to the ECB deposit facility rate. Securities are traded through Lang & Schwarz Exchange at Hamburg Stock Exchange.

In January 2025, Trade Republic opened national branches in France, Spain, and Italy with local IBANs and payment methods. The platform now serves customers across 17 European countries, with one-third of customers coming from markets outside Germany.

Card Overview

Trade Republic launched its Visa debit card in 2024, available in three versions: a free virtual card, a Classic physical card (€5 one-time fee), and a premium Mirror metal card (€50 one-time fee). The card connects directly to the Trade Republic cash account and can be added to Apple Pay and Google Pay.

The card offers unlimited free ATM withdrawals worldwide for amounts of €100 or more (€1 fee for withdrawals under €100). There are no foreign currency fees—Trade Republic uses the official Visa exchange rate without markup. The card features enhanced security with no card number or expiration date printed on the physical card, real-time transaction notifications, and instant freeze/unfreeze capabilities in the app.

The unique 1% Saveback feature automatically invests cashback into the user's savings plan, turning everyday spending into automated investing. This requires a minimum €50 monthly investment in savings plans to qualify and caps at €15 per month (applicable to €1,500 monthly card spending).

Fees & Pricing

Service	Fee
Account Opening	Free
Account Maintenance	Free
Stock/ETF/Bond/Crypto Trade	€1 flat external settlement fee
Savings Plan Execution	Free
Card (Virtual)	Free
Card (Classic Physical)	€5 one-time
Card (Mirror Metal)	€50 one-time
ATM Withdrawal (€100+)	Free worldwide
ATM Withdrawal (under €100)	€1
Foreign Currency Exchange	Free (Visa rate)
Bank Transfer Deposit	Free (first), 0.7% after
Card/Digital Wallet Deposit	Free (first), 0.7% after
Account Withdrawal	Free
Inactivity Fee	None
Custody Fee	None
Dividend Payment Fee	None

Note: A 2% spread applies to cryptocurrency transactions. Currency conversion fees apply to dividends received in non-EUR currencies.

Interest & Rewards

Feature	Details
Cash Interest Rate	2.00% p.a. (linked to ECB rate)
Interest Cap	Unlimited cash balance
Interest Payment	Monthly (accrued daily)
Deposit Protection	€100,000 per customer
Saveback Reward	1% on card payments
Saveback Cap	€15/month (on €1,500 spend)
Saveback Requirement	€50/month minimum savings plan investment
Crypto Saveback	2% when paying with crypto
Round-Up Investing	Automatic spare change investment

Interest rates adjust based on ECB deposit facility rate changes.

Supported Assets

Stocks & ETFs:

• 9,000+ international stocks
• 2,000+ ETFs from Vanguard, iShares, Invesco, Xtrackers, VanEck
• Fractional shares available
• Access to German, European, US, UK, and Asian markets
• Traded via XETRA in EUR

Bonds:

• 500+ corporate and government bonds
• Fractional bond investing from €1
• Lowest EU/UK government bond fees in market

Cryptocurrencies (50+):

• Bitcoin (BTC)
• Ethereum (ETH)
• Bitcoin Cash (BCH)
• Litecoin (LTC)
• Solana (SOL)
• And 45+ additional tokens
• 24/7 trading including weekends
• Cold wallet storage via BitGo Europe

Derivatives:

• 10,000+ products
• Warrants and certificates

Geographic Availability

Trade Republic is available in 17 European countries:

• Germany (headquarters)
• Austria
• Belgium
• Estonia
• Finland
• France
• Greece
• Ireland
• Italy
• Latvia
• Lithuania
• Luxembourg
• Netherlands
• Portugal
• Slovakia
• Slovenia
• Spain

The card cannot be used for ATM withdrawals or in-store payments in: Belarus, Cuba, Iran, North Korea, Mali, Myanmar, Russia, South Sudan, Syria, Venezuela, and Yemen.

Regulatory Framework

Trade Republic operates as a fully licensed European bank with comprehensive regulatory oversight:

Regulator	Status
ECB (European Central Bank)	Full Banking License (December 2023)
BaFin (Germany)	Authorized & Supervised
Deutsche Bundesbank	Supervised
MiCAR	Authorized for Crypto Services

Customer funds are held in escrow accounts at partner banks including Citibank Europe plc (supervised by Central Bank of Ireland), Solarisbank SE, and Deutsche Bank (both supervised by BaFin and Bundesbank).

Security & Compliance

• Deposit Guarantee: €100,000 per customer under EU scheme
• Investor Protection: €20,000 for assets in case of insolvency
• Client Fund Segregation: Mandatory under BaFin regulations
• Crypto Custody: BitGo Europe GmbH (BaFin-regulated, cold wallet storage)
• Data Protection: GDPR compliant
• Multi-Factor Authentication: Supported
• KYC/AML: Rigorous verification procedures
• Card Security: No sensitive data printed on physical card
• Real-Time Notifications: All transactions
• Instant Card Freeze: Via app

Additional Features

Savings Plans:

• Automated investments in stocks, ETFs, bonds, or crypto
• No per-trade fee
• Weekly, bi-weekly, monthly, or quarterly execution
• Choose specific dates (2nd, 9th, 16th, or 23rd)
• Direct debit or account balance funding
• 4,500+ stocks and ETFs available

Crypto Wallet (Launched November 2025):

• Send and receive 50+ cryptocurrencies
• Staking for Ethereum and Solana
• Pay with crypto via Trade Republic Card
• 2% Crypto Saveback on purchases
• Cold wallet storage by BitGo Europe
• MiCAR regulated

Round-Up Investing:

• Automatically invest spare change from card purchases
• Seamless wealth building through everyday spending

Current Account:

• Free to open
• Unlimited cash balance
• Local IBANs in major markets
• ACH/SEPA transfers supported

Key Features

• 2% APY on unlimited cash balance (ECB-linked rate)
• €1 flat fee per trade on stocks, ETFs, bonds, crypto
• Free savings plans with no execution fees
• Visa card with 1% Saveback invested automatically
• Unlimited free ATM withdrawals worldwide (€100+ minimum)
• No foreign currency fees on card payments
• 50+ cryptocurrencies with 24/7 trading
• Fractional shares from €1
• €100,000 deposit protection
• Full ECB banking license
• 8 million customers across 17 European countries
• €100 billion assets under management
• Apple Pay and Google Pay support
• Round-up investing feature
• Crypto staking for ETH and SOL
• Web and mobile app access

Ideal For

• European long-term investors seeking low-cost ETF investing
• Savers wanting high interest on uninvested cash
• Cost-conscious investors building wealth via savings plans
• Travelers needing fee-free international card spending
• Millennials and Gen Z new to investing
• Anyone wanting combined banking and investing in one app
• Crypto-curious investors wanting regulated exposure
• Passive investors using dollar-cost averaging strategies
• Users seeking an alternative to traditional European banks

Not Suitable For

• US residents (not available)
• Active day traders requiring advanced tools
• Investors needing direct access to US exchanges
• Users requiring extensive crypto selection or DeFi features
• Those needing credit cards or credit lines
• Investors wanting options trading
• Users requiring 24/7 customer support
• Business or corporate accounts
• Those outside the 17 supported European countries

Pros

• 2% APY on unlimited cash balance significantly beats traditional banks
• €1 flat fee per trade is among lowest in Europe
• Free savings plans with no execution fees
• Full ECB banking license provides regulatory assurance
• €100,000 deposit guarantee per customer
• Unlimited free ATM withdrawals (€100+ minimum) worldwide
• No foreign currency fees on card payments
• 1% Saveback automatically invested into savings plan
• 8 million customers and €100 billion AUM demonstrate scale
• Fractional shares enable investing from just €1
• 50+ cryptocurrencies available 24/7
• Cold wallet crypto storage via BitGo Europe
• MiCAR-compliant crypto services
• Apple Pay and Google Pay integration
• Round-up investing automates wealth building
• Profitable company with strong financial backing
• Clean, intuitive mobile-first interface
• Available across 17 European countries
• Local IBANs in major markets
• Real-time transaction notifications

Cons

• Not available outside 17 European countries
• No direct access to US exchanges (NYSE, NASDAQ exclusives)
• 2% spread on crypto transactions is relatively high
• Payment for order flow (PFOF) may affect execution prices
• €15/month cap on Saveback limits rewards
• Customer support can be slow
• Daily spending limit capped at €10,000
• Currency conversion fees on non-EUR dividends
• Limited advanced trading tools and charting
• No price alerts on web platform
• Interest rate fluctuates with ECB decisions
• Cannot withdraw crypto to external wallets (historically)
• Virtual card cannot withdraw cash from ATMs
• €50 quarterly deposit limit via card/digital wallet
• No credit products or overdraft facilities

Alternatives

• N26 - German neobank with broader banking features and premium tiers
• Revolut - Multi-currency account with trading and crypto
• DEGIRO - Low-cost European broker with wider exchange access
• Interactive Brokers - Direct US market access with advanced tools
• Scalable Capital - German robo-advisor with ETF savings plans
• eToro - Social trading platform with copy trading features