flatex Review

German-market flat-fee investors

BaFin

Founded 2006 · Germany · flatexDEGIRO SE

Why investors choose this broker

EUR 5.90 flat fee per trade regardless of order size
ETF and fund savings plans free of charge
No account, inactivity, custody, deposit, or withdrawal fees
Licensed German bank with BaFin regulation

Review summary

flatex is a German flat-fee online broker offering stocks, ETFs, bonds, funds, CFDs, and free savings plans, regulated by BaFin as a licensed bank.

Pros

EUR 5.90 flat fee per trade regardless of order size
ETF and fund savings plans free of charge
No account, inactivity, custody, deposit, or withdrawal fees
Licensed German bank with BaFin regulation
Client cash covered by statutory deposit guarantee up to EUR 100,000
Securities held in segregated custody outside insolvency estate
Access to over 5,000 ETFs and funds

Cons

Platforms primarily in German, limiting accessibility for non-German speakers
flatex Trader 2.0 advanced platform costs EUR 15 per month
High FX conversion fee of 0.4% on non-EUR transactions
Bank transfer is the only deposit and withdrawal method
No options or futures trading
Crypto available only via ETPs and ETNs, not direct spot trading
Not available in most non-EU countries

Company background

flatex is a German online broker launched in 2006, one of the first independent discount brokers in Germany and Austria. It is operated by flatexDEGIRO Bank SE, a fully licensed German bank and subsidiary of the listed group flatexDEGIRO SE, which also operates the DEGIRO and ViTrade platforms. By 2024 the group served over 3 million customer accounts across Europe.

flatex targets investors in Germany and Austria with a flat-fee model for stocks, bonds, and funds, alongside free savings plans for ETFs and funds. Options and futures are not available, and crypto exposure is limited to exchange-traded products issued by third-party providers.

Fees and pricing

flatex charges a flat EUR 5.90 fee per order on stocks, bonds, and funds, regardless of order size. This benefits larger orders compared with percentage-based pricing, though additional exchange fees may apply. ETF and fund savings plans starting from EUR 25 per month are free of charge across over 5,000 products. No account management, inactivity, custody, deposit, or withdrawal fees apply.

The main ongoing cost for non-EUR investors is a 0.4% FX conversion mark-up on transactions in foreign currencies. Deposits and withdrawals are by bank transfer only. The flatex Trader 2.0 desktop platform costs EUR 15 per month for the basic tier and EUR 39 per month for the TeleTrader Workstation version; the web-based WebFiliale carries no platform fee.

Regulation and safety

flatex is operated by flatexDEGIRO Bank SE, regulated by BaFin as a fully licensed German bank. Client cash is covered by Germany's statutory deposit guarantee up to EUR 100,000 per depositor. Securities are held in segregated custody accounts and, under German law, fall outside the bank's insolvency estate.

Platform experience

flatex provides three trading interfaces: the browser-based WebFiliale for everyday use, the subscription-based flatex Trader 2.0 desktop application for active traders, and the integrated Guidants charting platform. Mobile apps for iOS and Android support full account management, order placement, portfolio overview, price alerts, and biometric login. All platforms are primarily in German, which may limit accessibility for non-German speakers.

Pros and cons

flatex's main advantages are its flat-fee structure, free savings plans across a large ETF and fund range, and BaFin bank regulation with statutory deposit protection. No account, inactivity, custody, or withdrawal fees apply. The main drawbacks are the German-only interface, a 0.4% FX conversion charge on non-EUR trades, the subscription cost for the advanced desktop platform, restriction to bank-transfer payments, and the absence of options, futures, and direct spot crypto trading.

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Open an account directly with the broker. Confirm current fees and account eligibility on the broker's website before depositing.

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Your capital is at risk. Other fees apply.

Trading fees & commissions

flatex charges a flat EUR 5.90 fee per stock, bond, and fund trade. ETF and fund savings plans are free of charge, and no account, inactivity, custody, deposit, or withdrawal fees apply.

Fees

Item	Fee
Cfds	Index, commodity, and FX CFDs are commission-free (spread-based cost only); stock CFDs 0.05% min EUR 5 per order
Bonds	EUR 5.90 flat fee per order
Funds	EUR 5.90 flat fee per order; fund savings plans free of charge
Account	Free
Custody	Free
Deposit	Free (bank transfer only)
Inactivity	Free
Withdrawal	Free
Fx Conversion	0.4% mark-up on non-EUR transactions

Trading platform & features

Platforms

flatex WebFiliale
flatex Trader 2.0
Guidants
iOS app
Android app

Regulation and investor protection

flatex operates through flatexDEGIRO Bank SE, a fully licensed German bank regulated by BaFin. Client cash is covered by Germany's statutory deposit guarantee up to EUR 100,000 per depositor, and securities are held in segregated custody accounts that fall outside the bank's insolvency estate under German law.

Broker FAQs

Is flatex safe?

flatex is operated by flatexDEGIRO Bank SE, a fully licensed German bank regulated by BaFin. Client cash is covered by Germany's statutory deposit guarantee up to EUR 100,000, and securities are held in segregated custody accounts outside the bank's insolvency estate.

Is flatex a scam?

No. flatex is operated by flatexDEGIRO Bank SE, a licensed German bank supervised by BaFin. The group has operated since 2006 and serves over 3 million customer accounts across Europe.

Is flatex regulated and by whom?

Yes. flatex is operated by flatexDEGIRO Bank SE, regulated by BaFin, Germany's Federal Financial Supervisory Authority.

Does flatex keep client funds in segregated accounts?

Client cash is covered by Germany's statutory deposit guarantee up to EUR 100,000 per depositor. Securities are held in segregated custody and fall outside the bank's insolvency estate under German law.

What happens to my money if flatex goes bankrupt?

Client cash is protected under Germany's statutory deposit guarantee scheme up to EUR 100,000 per depositor. Securities are held in segregated custody accounts that are legally distinct from the bank's own assets and would not form part of the insolvency estate.

What products does flatex offer?

flatex offers stocks, ETFs, bonds, funds, warrants, certificates, turbos, CFDs, and crypto-linked ETPs and ETNs. It also supports savings plans for ETFs and funds. Options and futures are not available.

Does flatex offer ETFs?

Yes. flatex offers over 5,000 ETFs and funds for spot trading at EUR 5.90 per order. ETF savings plans with regular automated purchases are free of charge.

Does flatex offer crypto?

flatex does not offer direct spot crypto trading. Crypto exposure is available through exchange-traded products such as ETNs and ETPs issued by providers including VanEck, CoinShares, WisdomTree, and 21Shares.

Does flatex offer savings plans?

Yes. flatex offers savings plans on over 5,000 ETFs and funds, starting from EUR 25 per month, free of trading commissions.

Does flatex offer CFDs?

Yes. flatex offers CFD trading on stocks, indices, currencies, and commodities. A separate CFD demo account is available.

What does flatex charge for stock trades?

flatex charges a flat EUR 5.90 fee per stock order, regardless of the order size. Additional exchange fees may apply on top of the flat rate depending on the market.

What does flatex charge for ETF trades?

Spot ETF trades cost EUR 5.90 per order. ETF savings plans with regular automated purchases are free of charge and cover over 5,000 ETFs and funds.

Is there a withdrawal fee at flatex?

No. flatex does not charge a withdrawal fee. Withdrawals are processed by bank transfer only.

Does flatex charge an inactivity fee?

No. flatex does not charge an inactivity fee.

What is flatex's currency conversion fee?

flatex charges a 0.4% mark-up on transactions involving non-EUR currencies, which applies when trading assets denominated in foreign currencies.

Does flatex have a demo account?

Yes. flatex offers a CFD demo account with virtual money for practice trading.

Does flatex have a mobile app?

Yes. flatex provides mobile apps for iOS and Android with full account management, order placement, portfolio overview, price alerts, and biometric login.

Is flatex good for beginners?

flatex can be accessible for beginners interested in long-term investing through its free savings plans and simple flat-fee structure, though all platforms are primarily in German and the advanced desktop platform requires a monthly subscription.

Is flatex good for long-term investing?

flatex suits long-term investors through its free ETF and fund savings plans, flat-fee stock trading, and absence of account, inactivity, and custody fees. The 0.4% FX conversion fee is a consideration for investors holding non-EUR assets regularly.

Bottom line

flatex suits investors who want a regulated, flat-fee German broker with free ETF savings plans, no ongoing account or custody costs, and the security of BaFin bank regulation with statutory deposit protection. It may not suit investors who need options or futures trading, prefer non-bank-transfer payment methods, require platforms in languages other than German, or want direct spot crypto exposure.

flatex

German-market flat-fee investors

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Your capital is at risk. Other fees apply.