Opening a securities account

A securities account (Wertpapierdepot) is your "account" for shares, ETFs, funds and bonds. Without one, you can't invest.

The most popular securities accounts in Germany compared:

Neo-brokers (cheapest terms):

• Trade Republic: €1 per order, free savings plans, one of the largest selections
• Scalable Capital: €0.99/order or €2.99/month flat rate, free savings plans
• finanzen.net zero: €0/order (from €500), free savings plans

Direct banks (broader range):

• ING: €4.90 + 0.25% per order, good service, app
• comdirect: €3.90 + 0.25%, broad range
• DKB: €10 per order (simple and transparent)

Branch banks (most expensive option):

• Sparkasse, Volksbank: often €30–50 per order + custody fee
• Rarely worthwhile for private investors

Opening:

• 1. Choose a provider
• 2. Online application + video ID (15 min)
• 3. Set up a reference/clearing account
• 4. Transfer money
• 5. Set up your first ETF savings plan!

What to look out for:

• Custody fee: should be €0 (all neo-brokers and most direct banks)
• Savings plan costs: free at most neo-brokers
• Trading venues: neo-brokers: 1 trading venue. Direct banks: several
• Taxes: German brokers pay the flat-rate withholding tax automatically