TradeRepublic is an interesting case, they recently raise a big round and have invested a lot into marketing. Most of the ads Iām seeing, in size are from TradeRepublic, Trading 212 and eToro!
So looks like competition is coming for T212, they have a very UI/UX friendly and straightforward app, more like Robinhood (exactly almost).
Moreso they offer:
10.000 shares almost
Options/Derivatives trading
US/EU and other markets supported
German 100.000 EUR Deposit Insurance Scheme
Full Extended Hours Trading
News feed per symbol
Everything there is also free, except that you pay 1 euro per side of trade, except at select ETFs.
There app is missing a lot of features, and I believe they would work their ass off of that, they are already setting up surveys.
Their Plus account will be Ā£10/month - I wonder what they can put in there to make it worthwhile, as all the things I could think of are freely available on 212, so why pay Ā£120/year for it?
Besides that, Ā£120 is a big tax on your account, especially since their average account is Ā£1650 it seems. Many of FT say 212 is unethical because it has CFD, I say a 7% charge is unethical. Obviously, account sizes will grow but even with my not insignificant account I wouldnāt pay Ā£120.
I just opened an account with them last weekā¦ same way that I also have an account with DeGiroā¦ when itās about my money and future, Iām very picky with my choices.
I personally have very small savings and hence a small amount invested, but I have one thing clear, if I ever invest more than 100,000 euros / 85 000 GBP I would use more than 1 platform to share them over, as that is the amount protected by the European legislation. For example, in the UK that is the amount protected by the FCA / FSCS, anything over that is not guaranteed/protected if the company fails.
interesting metrics in the thread.