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flatex Review 2024

Written by
Fact checked by
Adam N.
Updated
1w ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
1,845 people chose this broker
Not available in United States; see best alternatives

Why choose flatex

flatex is a German broker regulated by top-tier authorities such as Germany's BaFin.

flatex has low fees for fund and bond trading. It holds a banking license, is listed on several stock exchanges and has a strong parent company. Its educational tools are also varied and of high quality. It is a good choice for beginner investors.

On the other hand, stock fees are not the best and forex fees are high. The account opening for non-German residents is overly complicated and can take weeks. You can use only use bank transfer for deposits and withdrawals. Lastly, a good knowledge of German is required as the services are all in German.

BrokerChooser gave flatex a 4.0/5 rating based on analyzing 600+ criteria and testing via opening a live account.

  • Low fund and bond fees
  • Strong company background
  • Great educational tools

Explore the key metrics of flatex

Overall score
4/5
Minimum deposit
$0
Stock fee
Average
Fund fee
Low
Inactivity fee
no
Account opening
>3 days

Not sure if this is the right broker for you? See the best ones.

See how the best brokers in the United States compare to flatex

US stock fee
Estimated commission of a $2,000 trade, assuming a $50 stock price

Fees

Score: 3/5
flatex has favorable pricing for trading mutual funds and bonds and its non-trading fees are also low. On the negative side, stock/ETF fees are only average and forex fees are high.
  • Low non-trading fees
  • Low fund fees
  • No withdrawal fee

We compared flatex's fees with two similar brokers we selected, Comdirect and DEGIRO. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of flatex alternatives.

Average stock and ETF commission

flatex US stock fees are much higher than the industry average. US stock fees are calculated as follows: €5.9 per trade flat fee + exchange fees

Broker
US stock
flatex
$6.4
Comdirect
$13.9
DEGIRO
$2.2
flatex stock and ETF commission

Low mutual fund commission

flatex Mutual fund fees are about half of the industry average. Mutual fund fees are calculated as follows: €5.9 per trade flat fee

Broker
Mutual fund
flatex
$6.4
Comdirect
$20.0
DEGIRO
$4.2
flatex mutual fund commission

Low bond commission

flatex US Treasury bond fees are about half of the industry average. US Treasury bond fees are calculated as follows: €5.9 per trade flat fee

Broker
US Treasury bond
flatex
$6.4
Comdirect
$33.5
DEGIRO
-
flatex bond commission

A €5.9 flat fee is charged after every order.

No inactivity fee, no withdrawal fee

It doesn't charge any account, inactivity, custody, deposit or withdrawal fees.

On the other hand, the FX conversion fee is really high: it's 0.4% mark-up. This is charged if you trade an asset in a currency other than your account currency.

Broker
Inactivity fee
Withdrawal fee
flatex
$0
Comdirect
$0
DEGIRO
$0
flatex inactivity, withdrawal and other fees

Other commissions and fees

High FX fees: All fees are built into the spread, so there is no separate commission charged. For example, the EUR/USD spread is 1.0.

Low margin rates: the EUR annual margin rate is 7.5%.

Broker
US stock index options
US micro e-mini stock index futures
flatex
-
-
Comdirect
-
-
DEGIRO
$7.5
$7.5
Misc. fees compared with other brokers

Safety

flatex is regulated by Germany's Federal Financial Supervisory Authority (BaFin), a top-tier regulator. The broker is also listed on the stock exchange and has a banking background.
  • Majority of clients belong to a top-tier financial authority
  • Banking background
  • Listed on stock exchange
Read more

Deposit and withdrawal

Score: 2.6/5
Deposits and withdrawals at flatex are free of charge, but only bank transfer is available. This means the process can take a couple of days.
  • Free withdrawal
  • No deposit fee
  • User-friendly
Read more

Account opening

Score: 2.5/5
Account opening at flatex is easy and fully digital for German and Austrian residents, but complicated and long for other clients.
  • No minimum deposit
  • Fully digital account opening for German/Austrian clients
Read more

Mobile app

Score: 4.2/5
The flatex mobile platform is similar to the web platform in design and functionality: it is user-friendly with a great search function, but no price alerts and is only in German.
  • User-friendly
  • Two-step (safer) login
  • Good search function
Read more

Desktop platform

Score: 2.8/5
flatex's own desktop platform 'flatex trader 2.0' is advanced, with many features and customizable options, but is recommend only for advanced traders.
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • Two-step (safer) login
Read more

Product selection

Score: 4.1/5
At flatex you can trade almost all product types except options, futures and cryptos. There are also special products like warrants, certificates and turbos. Most available exchanges focus on EU markets.
Read more
“I recommend flatex for investors and traders speaking German and focusing on European securities.”

FAQ

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Author of this review

Tamás Gyuriczki

Investments • Stock Market • Market Analysis

As a financial expert with BrokerChooser, I play an integral role in the analyst team by actively reviewing many of the 100+ brokers that are listed on our site. I personally open accounts with real money, execute trades, test customer services. My hope is that my first-hand experience with these brokers, incorporated in our reviews, helps users find the most suitable broker for their needs.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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