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Flatex fees explained

Mar 2019
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Overview of Flatex fees and charges

Flatex logo

When it comes to brokerage fees Flatex shows a mixed picture: some fees are high but some are low. First you need to figure out your approach or you should use our questionnaire to be able to tell whether Flatex fees are an advantage for you. Continue reading about Flatex fees and charges to see if this is the right brokerage for you or a similar broker like Comdirect or DEGIRO is better for you.

Here's a high level overview of Flatex's fees

Flatex Fees snapshot
Assets Fee level Fee terms
US stock fee High €15.9 per trade flat fee
EURUSD fee High The fees are built into spread, 1.1 pips is the spread cost
US tech fund fee Low €5.9 per trade flat fee
Inactivity fee Low No inactivity fee

Flatex fees
Flatex fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely due to the fact that online brokerages' businesses can be much better scaled: From a purely technical standpoint it doesn't make that much of a difference for them if they have 100 or 5000 clients.

This is not to say however that they don't have any fees at all. They make money by charging you at various events for various rates. Usually you need to keep an eye on these 3 types of fees:

  • Trading fees - these are brokerage fees that you pay when you actually do a trade, i.e. buying an Apple stock or an ETF. What you pay is either a commission, a spread or financing rate. Some brokers apply all of these.
    • A commission is either based on the traded volume or it is fixed.
    • A spread is the difference between the buy price and the sell price
    • Financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
  • Non-trading fees. These occur related to some operations you make in your account, i.e. depositing money to your account, withdrawing money from it or not trading for an extended amount of time.

We compare Flatex fees with its closest competitors, Comdirect and DEGIRO.

Flatex fees
Flatex trading fees

We see Flatex's trading fees to be high because they charge more than most of its competitors.

Let's break down the trading fees into the different asset classes available at Flatex.

Trading fees

Flatex's trading fees are average.

Stock fees and ETF fees

Flatex has average stock trading fees.

Stock fees of a $2,000 trade
Flatex Comdirect DEGIRO
USA $18.1 $14.7 $0.6
UK - $14.7 $2.4
Germany $9.4 $11.3 $5.7

Forex fees

Flatex's forex fees are high.

Forex fees of a $20,000 30:1 position open, 1-week-hold, and close
Flatex Comdirect DEGIRO
EURUSD benchmark fee $28.9 $28.6 -
EURGBP benchmark fee $19.5 $26.1 -

Fund fees

Flatex fund fees are low.

A $2,000 fund buy fees
Flatex Comdirect DEGIRO
USA tech fund buy $6.7 $20.0 $10.6
Europe stock fund buy $6.7 $20.0 $10.6

Bond fees

Flatex has low bond fees.

Bond fees of a $10,000 trade
Flatex Comdirect DEGIRO
USA $6.5 $34.0 -
Europe $6.7 $30.6 $11.5

CFD fees

Flatex has low CFD trading fees.

CFD fees, commission of a $2,000 trade
Flatex Comdirect DEGIRO
USA $5.7 $5.6 $0.7
UK $5.7 $5.6 $5.7
Germany $5.7 $5.6 $5.7

Financing rates

Flatex financing rates are high.

If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.

Flatex yearly financing rates
Flatex Comdirect DEGIRO
Apple financing rate 7.1% 7.7% 4.3%
Vodafone financing rate 5.3% 5.9% 2.5%
EURUSD financing rate 7.3% 6.8% -
EURGBP financing rate 4.1% 5.2% -

Flatex fees
Flatex non-trading fees

When it comes to looking at all the non-trading fees Flatex is a cheap broker. This means that they don't charge you a lot for non-trading related activities on your trading account, like withdrawal fee.

Non-trading fees include various brokerage fees and charges at Flatex that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.

A high level overview of how Flatex stacks up in non-trading fees
Flatex Comdirect DEGIRO
Withdrawal fee $0 $0 $0
Deposit fee 0 0 0
Inactivity fee No Yes No
Account fee No No No

Flatex fees
Flatex deposit fee

Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and Flatex is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods Flatex offers.

Flatex deposit methods
Flatex Comdirect DEGIRO
Bank transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No Yes
Deposit fee 0 0 0

Flatex fees
Flatex withdrawal fee

Unlike the majority of the online brokers we have reviewed Flatex does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.

Flatex withdrawal fees and options compared
Flatex Comdirect DEGIRO
Bank transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No Yes
Withdrawal fee $0 $0 $0

Flatex fees
Flatex inactivity fee

Flatex does not apply an inactivity fee which is great because your account will not be charged even if you do not trade for a longer time period (months or years).

AUTHOR

Gergely Korpos
Gergely Korpos
Co-founder, CPO
Gergely's aim is to bring more clarity into personal investing. He has 10 years of experience in financial markets with GE Money, KPMG and MOL. He concluded thousands of trades as a commodity trader and financial portfolio manager
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