Trade Republic Review 2026: A Complete Analysis for European Investors

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Trade Republic has become one of the most talked-about brokers in Europe. With over four million customers, a full banking licence, and an aggressive push into new markets, it has gone from a German fintech startup to a continent-wide platform in just a few years.

But is it actually good? Does the savings account hold up under scrutiny? And is it the right broker if you want to do more than buy a handful of ETFs every month?

In this review, we are going to look at Trade Republic from every angle: how it works, what it costs, what you can and cannot do with it, and — most importantly — whether it makes sense for your situation as a European investor. No hype, no sugarcoating.

What Is Trade Republic?

Trade Republic is a German neobroker founded in 2015 in Berlin. It holds a full banking licence supervised by BaFin (the German Federal Financial Supervisory Authority) and the Bundesbank. This is a meaningful distinction: your cash is held directly by Trade Republic, not parked at a third-party bank.

The pitch is straightforward: low-cost investing with a mobile-first experience. No complex trading terminals, no cluttered interfaces. Trade Republic bets on radical simplicity.

The company initially launched in Germany and has since expanded across Europe — Austria, France, Italy, Spain, the Netherlands, Belgium, Ireland, Portugal, Greece, and more. As of early 2026, it manages over 35 billion euros in client assets.

Trade Republic is regulated by BaFin, covered by the German Deposit Guarantee Scheme (up to 100,000 euros for cash), and securities held in your account are segregated assets — meaning they remain yours even if Trade Republic were to go bankrupt.

How Trade Republic Works

The Trade Republic model rests on three pillars:

1. App-first (with web access)

Trade Republic was a mobile-only platform for years. A web version launched in 2023, but the core experience is still designed around the phone. There is no downloadable desktop application. If you are coming from something like Interactive Brokers' Trader Workstation, this will feel like a different world.

2. One account, multiple functions

When you open a Trade Republic account, you get:

• A German IBAN in your name (DE...)
• An investment account for stocks, ETFs, crypto, and bonds
• A cash account that earns interest on uninvested funds
• A debit card (physical or virtual) linked to your account

Everything lives inside a single app. No separate accounts for different functions.

3. Single venue execution

All orders are executed through LS Exchange (Lang & Schwarz), an electronic trading venue based in Hamburg. This means you do not have direct access to exchanges like XETRA, NYSE, Euronext, or the London Stock Exchange. For liquid ETFs and large-cap stocks, the practical difference is usually negligible. For less liquid instruments or trades placed outside European market hours (9:00–17:30 CET), spreads can widen.

The Savings Account: What You Actually Get

The interest-bearing cash account is one of Trade Republic's biggest draws, especially in countries where traditional banks offer next to nothing on deposits.

How it works:

• Interest is paid on your entire cash balance — no minimum, no cap
• It is calculated daily and paid monthly
• The rate is variable, tied to the ECB deposit facility rate
• As of March 2026, the rate sits around 2.75% APY (down from the peak of 4% in 2024, following ECB rate cuts)
• No conditions — no salary direct deposit, no minimum spend, no lock-in period

What to keep in mind:

First, taxes. Trade Republic does not withhold income tax for most European countries (it does for German residents). If you live in Spain, France, Italy, or most other EU countries, you are responsible for declaring and paying tax on the interest you earn. This is not complicated, but you need to remember to do it.

Second, deposit protection. Because Trade Republic holds a German banking licence, your cash is covered by the German Deposit Guarantee Scheme up to 100,000 euros. This is equivalent to the protection you would get at any bank in the EU.

Third, competition. Other neobrokers like Scalable Capital also offer cash interest, and several digital banks across Europe have improved their rates. The ECB rate trajectory matters — as rates come down, so does the interest Trade Republic pays.

Fee Breakdown: What You Actually Pay

Trade Republic's fee structure is one of the simplest in the industry:

Individual trades (manual buy/sell)

• 1 euro per trade, regardless of order size. Whether you buy 50 euros or 50,000 euros worth of an ETF, you pay 1 euro.
• No custody fee
• No inactivity fee
• No fee for receiving dividends

Savings plans (automated investing)

• Completely free. Zero euros in commissions.
• Set up recurring investments from as little as 1 euro
• Monthly, bi-weekly, or weekly frequency
• Over 4,000 stocks and ETFs available as savings plans

The hidden (or semi-hidden) costs

This is where you need to look more carefully:

• Spread: the difference between the buy and sell price. Because Trade Republic routes everything through LS Exchange, spreads can be wider than on primary exchanges — particularly outside core European trading hours. For highly liquid ETFs like the iShares Core MSCI World, the difference is typically minimal. For less liquid stocks or trades placed in the evening, it can add up.

• Foreign exchange: if you buy assets denominated in US dollars (most American stocks), Trade Republic applies a currency conversion markup on the reference rate. This is not published transparently, but estimates place it at 0.2%–0.5% depending on timing and volatility.

• Crypto: crypto spreads tend to be wider than those on traditional assets. There is no explicit commission, but the cost is embedded in the price.

Is it really cheap?

For investors using savings plans on ETFs, Trade Republic is essentially unbeatable on cost. A monthly savings plan of 200 euros into an MSCI World ETF costs you exactly 0 euros in commissions.

For one-off trades, the flat 1 euro fee is highly competitive compared to most European retail banks (which charge 5–15 euros per trade) and comparable to DEGIRO (1–3 euros depending on the exchange).

Where it gets less clear-cut is on spread and FX. If you regularly place large orders (5,000+ euros) in US-listed stocks, the total cost (1 euro + spread + FX markup) can exceed what you would pay at Interactive Brokers, which offers tighter spreads and better exchange rates.

Available Products

Trade Republic has expanded its product range significantly over the years. Here is what you can invest in today:

Stocks

Over 7,500 stocks from international markets. This covers the main European and American exchanges. All trades execute through LS Exchange, so you are technically buying the stock as quoted on that venue, not directly on NYSE or XETRA.

ETFs

Over 2,000 ETFs from the major issuers — iShares, Vanguard, Amundi, Xtrackers, Invesco, SPDR. This is where Trade Republic shines, especially when combined with free savings plans.

Crypto

Around 50 cryptocurrencies, including Bitcoin, Ethereum, and the major altcoins. Crypto purchases on Trade Republic are regulated — you are buying through a licensed broker, not an unregulated exchange.

Bonds

Government and corporate bonds, a relatively recent addition. The selection is limited compared to Interactive Brokers, but includes German Bunds, French OATs, and bonds from other European issuers.

Derivatives

Trade Republic offers certain derivative products (warrants, knock-outs) from issuers like Société Générale and HSBC. It does not offer options or futures in the traditional sense. If you are looking to sell puts or trade spreads, this is not your platform.

Fractional shares

You can buy fractions of any stock or ETF from as little as 1 euro. This is especially useful for expensive stocks (a single share of LVMH costs around 700 euros) or for spreading a small savings plan across multiple assets.

Platform and User Experience

The mobile app

This is Trade Republic's strongest point from a UX perspective. The interface is clean, fast, and designed so that anyone can use it without prior experience. Searching for an asset, viewing its chart, buying it, and setting up a savings plan takes seconds.

The design is minimalist — some would say too minimalist. You will not find advanced technical indicators, customisable candlestick charts, or fundamental analysis tools built in. It feels more like a mobile banking app than a trading platform.

The web version

Since 2023, Trade Republic offers a web version accessible from any browser. It mirrors the mobile app in terms of functionality: you can view your portfolio, place orders, and manage savings plans. It does not add any extra features beyond what the app provides.

What is missing

• Limited order types: you can place market orders and limit orders. There are no native stop-loss orders, trailing stops, or conditional orders.
• No analysis tools: no screeners, no financial ratios, no integrated analyst reports. If you want to research a company, you need external tools.
• Data export: you can download tax documents and statements, but CSV exports for external tracking tools could be more comprehensive.
• No API: there is no public API to connect your account with other tools programmatically.

Pros and Cons

What Trade Republic does well

• Free savings plans on thousands of ETFs and stocks — the best deal in Europe for automated DCA investing
• 1 euro per trade for manual orders — simple and transparent
• Competitive cash interest with no strings attached
• Excellent interface for the average investor — zero learning curve
• Full banking licence — your cash is held directly by the broker, not an intermediary
• Fractional shares from 1 euro — perfect for small portfolios or broad diversification
• Strong regulation — BaFin, Bundesbank, German deposit guarantee
• Integrated debit card — adds utility beyond pure investing

Where Trade Republic falls short

• Single execution venue (LS Exchange) — potentially wider spreads than primary exchanges
• No advanced order types — no stop-losses, trailing stops, or conditional orders
• Zero analysis tools — you need external platforms for research
• Opaque spread and FX costs — hard to know exactly what you are paying beyond the 1 euro
• No options or futures — impossible for derivative strategies
• Limited market access — no direct access to Asian or emerging markets
• Customer support could be better — chat and email only, response times can be slow
• Tax documents not localised — reports are structured for German tax filing, not adapted to other countries' requirements

Who Trade Republic Is For

Trade Republic is an excellent fit if:

• You are a passive investor who wants to automate investing with ETF savings plans. This is the ideal use case. Set up your plans, pick the frequency, and forget about it. The cost is literally zero.

• You are just starting out and want a platform that does not intimidate you. Trade Republic's simplicity is a genuine advantage when you do not need (or want) complex features.

• You want to park cash and earn a decent return while deciding what to invest in. The savings account is competitive with no fine print.

• You invest small amounts regularly. With fractional shares from 1 euro and commission-free savings plans, you can start with whatever you have.

• You want a regulated European broker that is not a legacy bank charging legacy fees.

Who Trade Republic Is NOT For

Let us be straightforward — Trade Republic is not for everyone:

• Active traders who need fast execution across multiple exchanges, complex order types, and technical analysis tools. You will feel constrained very quickly.

• Options and futures traders. They simply do not exist on the platform. If you want to sell covered calls or trade iron condors, you need Interactive Brokers or a similar full-service broker.

• Investors with large portfolios (100K+) who trade actively. The spread and FX markup can eat into the savings from the 1 euro commission when you are placing large orders in US stocks.

• Investors who want access to exotic markets — Asian exchanges, frontier markets, niche small-caps. Trade Republic's catalogue, while broad, has limits.

• People who need localised tax reports. Trade Republic's documents are built for the German tax system. For other countries, you will need to extract and reorganise the information yourself or use external tools.

• Users who value phone support. It does not exist. Everything is chat and email, and response times are not always fast.

How to Track Your Trade Republic Portfolio in Arfin

One of the most common frustrations with Trade Republic — especially if you use more than one broker — is the lack of a consolidated view of your investments.

The Trade Republic app shows your portfolio within Trade Republic, but:

• It does not show how your holdings fit with other accounts
• It does not provide advanced performance metrics (TWR, IRR)
• It does not give you a view of your total net worth

With Arfin, you can import your Trade Republic positions and combine them with holdings from other brokers (DEGIRO, Interactive Brokers, Scalable Capital, and more) in a single dashboard. This lets you:

• See your complete portfolio in one place
• Analyse your real asset allocation across all brokers
• Track your historical performance with professional metrics
• Monitor your dividends in a consolidated view
• Manage your net worth including bank accounts, property, and more

The process is simple: export your data from Trade Republic, import it into Arfin, and from there prices update automatically.

Final Verdict

Trade Republic is arguably the best broker in Europe for passive investing and savings plans. If your strategy is to buy index ETFs on a regular, automated basis, the case is compelling: zero-commission savings plans, a polished interface, and a cash account that actually pays you something.

It is not a broker for everything. It will not replace Interactive Brokers if you need options. It will not match DEGIRO if you want access to a wider range of markets. And it has real weaknesses: opaque spread costs, no analysis tools, and tax documents that are not adapted to non-German tax systems.

But for what it does well — and that is quite a lot — it does it very well.

Want to try it? You can open a Trade Republic account in minutes with your ID. And if you already have an account (or use multiple brokers), sign up for Arfin to see your entire portfolio in one dashboard.

Last updated: March 2026. Information on fees, interest rates, and available products may change. Always check Trade Republic's official website for the latest details.