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Written by: Bence András R. Updated: Feb 2023
Expert verified
Recommended for
  • beginners 3.5/5
  • equity trading 4.3/5
Trusted broker
Regulated by top-tier financial authorities
Popularity
425 people chose this broker in the last 6 months
BrokerChooser Score
4.3/5

flatex review summary

Flatex is a German broker regulated by top-tier authorities such as the German BaFin. flatex has low fees for popular asset classes like stocks and ETFs. 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, forex fees and margin rates are high. The account opening for non-German residents is overly complicated and can take even 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 4.3/5 rating based on analyzing 500+ criteria and testing via opening a live account.

flatex is a regulated broker, it is overseen by a top-tier financial regulator in Germany . flatex is also covered by investor protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.

You can't open an account at flatex if you live in United States. See the best alternative available in your country.

flatex pros and cons

Pros Cons
Low stock, ETF, fund and bond fees High forex fees
Strong company background Complicated account opening for non-German residents
Great educational tools Only bank transfer available for deposits and withdrawals

flatex main highlights

🗺️ Country of regulation Germany
💰 Trading fees class Average
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account >3 days
💳 Deposit with bank card Not available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 4
🎮 Demo account provided Yes
🛍️ Products offered Stock, ETF, Forex, Fund, Bond, Crypto, Warrants, Certificates, Turbos
To read much more details about the broker's services and features, expand on the sections below.

flatex review
Fees

3.2
flatex has favorable pricing for trading stocks, ETFs, mutual funds and bonds. On the negative side, forex fees are high.
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flatex review
Account opening

2.8
Account opening at flatex is easy and fully digital for German and Austrian residents, but complicated and long for other clients.
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flatex review
Deposit and withdrawal

3.0
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.
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flatex review
Web trading platform

3.5
flatex's web trading platform WebFiliale is well-designed, has several order types and a great search engine. However, there are no price alerts and it is only available in German.
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flatex review
Mobile trading platform

4.2
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.
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flatex review
Desktop trading platform

2.8
flatex's own desktop platform 'flatex trader 2.0' is advanced, with many features and customizable options, but is recommend only for advanced traders.
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flatex review
Markets and products

4.6
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.
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flatex review
Research

2.8
flatex's research tools are OK, with advanced charting tools and fundamental data available. On the other hand, the tools are not user-friendly and there are no trading ideas.
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flatex review
Customer service

4.5
flatex's customer support gives relevant answers, but there is no live chat option available and support is mainly in German.
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flatex review
Education

4.5
flatex has various great, high-quality educational content, although we did miss educational articles.
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flatex review
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.
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flatex review
Bottom line

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flatex review
FAQ

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Author of this review

Bence András Rózsa

Author of this review

Bence is an experienced broker analyst. Having an MSc in international economy and finance, he focuses on equities, cryptos and newcomer financial services. He also has 2+ years of experience within the brokerage industry, specializing in stock and CFD/forex brokers, crypto providers and robo-advisors.

Bence András Rózsa

Broker Analyst

Bence is an experienced broker analyst. Having an MSc in international economy and finance, he focuses on equities, cryptos and newcomer financial services. He also has 2+ years of experience within the brokerage industry, specializing in stock and CFD/forex brokers, crypto providers and robo-advisors.

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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