Stock Brokers Germany

Investing in stocks in Germany is straightforward if you choose the right broker. Whether you’re a local, an expat, or an EU resident, you can open a stock account and buy shares in German, European, or U.S. companies.

This guide shows you how to get started, which brokers offer the best fees and tools, how taxes work on stocks and dividends, and what to look for as a long-term investor or first-time buyer.

Who Can Invest in Stocks in Germany

Anyone over 18 with legal residency in Germany or the EU can open a stock brokerage account. Expats, international students, and freelancers are all eligible, as long as they can provide proper identification and tax documentation.

To open a stock account, you typically need:

• A valid passport or EU ID
• A registered German address (Meldeadresse) or EU residency
• A German tax ID (Steuer-ID)
• A SEPA-compatible bank account in your name
• KYC verification via VideoIdent or PostIdent

Most brokers also ask for a short investor profile, covering your income level, experience with financial products, and investment goals. This is required under EU investor protection rules (MiFID II).

If you’re an expat, make sure your name and address match across all documents. Some brokers may also reject non-German IBANs for recurring payments or ETF savings plans.

How to Open a Stock Broker Account in Germany

Opening a stock account in Germany is a regulated process but typically fast and fully digital. Most brokers let you complete everything online within 1–2 days.

Steps to open a stock broker account

1. Choose a stock broker
2. Register your account
3. Verify your identity
4. Submit tax and residency details
5. Link your bank account
6. Deposit funds
7. Start investing

1. Choose a stock broker

Pick a broker regulated by BaFin or another EU authority. Compare fees, available markets, ETF savings plans, platform language, and tax handling. Brokers like Trade Republic, Scalable Capital, and DEGIRO are popular among expats.

2. Register your account

Create an account through the broker’s app or website. You’ll be asked for your full name, address, citizenship, date of birth, contact info, and preferred account currency (typically EUR).

3. Verify your identity

Identity verification is done via VideoIdent (video call with ID check) or PostIdent (in-person at a post office). You’ll need:

• A valid passport or EU ID
• Proof of address (e.g. rental agreement, utility bill)

4. Submit tax and residency details

You must enter your German tax ID (Steuer-ID) and confirm your tax residency. Some brokers may also ask for your foreign TIN if you’re from outside Germany.

5. Link your bank account

Add a SEPA-compatible bank account in your name. This account will be used for deposits, withdrawals, and—if applicable—ETF savings plans.

6. Deposit funds

Transfer money to your new account via bank transfer, SOFORT, or other supported methods. Minimum deposits vary but are often as low as €1 for neo brokers.

7. Start investing

Once the funds arrive, you can buy stocks, ETFs, or set up savings plans. Some platforms also offer fractional shares and zero-commission trading on select instruments.

Types of Stock Brokers in Germany

Stock brokers in Germany fall into several categories—each with different fee models, platform designs, and levels of service. The table below shows how they compare.

Broker Type	Fees	Platform	Tax Handling	Support Level	Best For
Neo Brokers	Very low	Mobile-first	Automated	Basic (chat/email)	Beginners, ETF investors
Direct Banks	Moderate	Web + app	Automated	Good (phone/email)	Long-term investors
Full-Service Banks	High	Bank-integrated	Automated	Personal advisor	High-net-worth clients
EU/International Brokers	Low–moderate	Web/app/MT4/etc.	Manual	Varies	Experienced, expats

Neo brokers (mobile-first platforms)

Neo brokers like Trade Republic and Scalable Capital prioritize ease of use and low fees. They typically charge €0–1 per trade, offer free ETF savings plans, and focus on mobile interfaces.

Setup is fast, and most functions are automated. These platforms are excellent for beginners, passive investors, or anyone who wants to invest small amounts regularly.

Direct banks (Direktbanken)

Platforms like Comdirect and ING Germany offer both trading and banking services. You get access to a wider range of products including funds, bonds, and IPOs.

Fees are moderate, typically €4–8 per trade, and tax handling is fully automated. These brokers are ideal for investors who want stability and more account features.

Full-service banks and traditional brokers

Banks like Deutsche Bank and Commerzbank offer stock trading through in-house advisory models. Services include portfolio consultation, managed accounts, and access to exclusive products.

Fees are high, but service is personalized. This model suits wealthy investors seeking hands-on guidance.

EU-based and international brokers

Brokers such as DEGIRO and eToro operate under EU regulation and offer low-cost stock trading to German residents. DEGIRO is known for low fees and global exchange access, while eToro targets casual users with commission-free stock investing and social features. Tax reporting is not automatic—users must report gains manually.

Available Stocks and Investment Products

German stock brokers provide access to a wide selection of equities and investment vehicles. The exact range depends on the broker type—some focus on simplicity, others offer full access to global exchanges and advanced portfolio tools.

Stocks (Einzelaktien)

All regulated brokers in Germany offer access to German stocks listed on Xetra and Börse Frankfurt, including companies from the DAX, MDAX, and SDAX indices. Most platforms also provide access to European and U.S. markets, covering major stocks from exchanges like Nasdaq, NYSE, Euronext, and the London Stock Exchange.

International exposure beyond these core regions—such as Canadian, Asian, or emerging market equities—is usually limited to larger or specialized brokers like DEGIRO. Neo brokers may restrict access to major stocks only, while full-service brokers offer broader exchange access, including IPOs and secondary markets.

ETFs (Exchange-Traded Funds)

ETFs are widely available and often promoted as the default option for passive investing. Brokers like Scalable Capital and Trade Republic offer hundreds of ETFs from providers like iShares, Xtrackers, and Vanguard. Many ETFs are eligible for zero-commission savings plans, especially on preselected funds.

ETF savings plans (Sparpläne) are a core feature in Germany. Investors can set up automated monthly purchases starting from €1 or €25, depending on the broker. Plans may allow flexible pausing, adjusting amounts, or choosing reinvestment options. This setup is ideal for long-term investors seeking cost-effective exposure to global markets.

Investment funds (active mutual funds)

Actively managed funds are typically available through direct banks and full-service brokers. These include German and international funds from major asset managers like DWS, Union Investment, Fidelity, and Allianz. Entry costs can be higher than ETFs, with front-end loads (Ausgabeaufschlag) and ongoing management fees.

While active funds may offer professional management and sector rotation, they are less transparent and more expensive than ETFs. Neo brokers rarely include mutual funds in their offerings, so they are best accessed through traditional banking platforms or fund supermarkets.

Fractional shares

Many modern brokers now offer fractional investing, allowing you to buy portions of a share rather than the full unit. This is especially helpful when investing in high-priced U.S. stocks like Amazon or Nvidia, where a full share may cost several hundred euros.

Platforms like Trade Republic, Scalable Capital, and eToro support fractional trading, though implementation varies. In most cases, dividends on fractional shares are paid proportionally in cash. Fractional ownership is typically supported only on selected major stocks and ETFs.

Dividends and reinvestment

Dividends are usually credited in cash to your broker account. Some brokers, especially traditional ones, may offer a dividend reinvestment plan (DRIP), automatically purchasing more shares of the same stock or fund. This is rarely the default and must be activated manually where available.

ETF savings plans with accumulating funds (thesaurierende ETFs) automatically reinvest internally, offering a tax-efficient alternative to manual reinvestment. International brokers may offer reinvestment tools, but German platforms often stick to cash payouts unless otherwise configured.

Trading Platforms and Tools for Stock Investors

The platform you use to invest plays a key role in how easily you can research, manage, and track your portfolio. German stock brokers vary widely in interface design, available tools, and support for features like savings plans and dividend tracking.

Mobile apps and web platforms

Neo brokers such as Trade Republic and Scalable Capital are built as mobile-first platforms with streamlined interfaces. Their apps are intuitive, allow quick access to watchlists and order execution, and are ideal for investors who want to check or adjust positions on the go. Most also include a browser-based version for desktop access.

Traditional brokers like Comdirect and flatex offer more complex web platforms with richer data and reporting. These often include account overviews, transaction histories, and tax documents in downloadable format. While not always as sleek as app-based platforms, they offer more comprehensive portfolio control for serious investors.

Charting and research tools

Charting capabilities differ dramatically between brokers. Neo brokers usually offer basic price charts with limited technical indicators. These are sufficient for passive investors or those following long-term strategies, but not for detailed market analysis.

Full-service and EU brokers like DEGIRO, IG, or Comdirect typically include advanced charts, news feeds, analyst ratings, and historical data. Some platforms also offer access to market scanners, real-time quotes, and alerts, which help active investors track market events and manage timing.

ETF savings plan setup

One of the most useful platform features in Germany is the ability to set up and manage ETF savings plans directly in the app or dashboard. Trade Republic, Scalable Capital, and Comdirect allow users to start, pause, or edit plans with just a few clicks.

Good platforms will show projected growth over time, track your plan’s performance, and allow flexible execution dates (e.g. 1st or 15th of the month). Some even support auto-increase features, where your monthly amount grows over time—ideal for inflation-adjusted investing.

Tax documentation and reporting

German brokers automatically handle tax reporting and offer downloadable Jahressteuerbescheinigungen (annual tax certificates). These can be uploaded directly into ELSTER, the German tax portal. Platforms typically store these in your document center alongside dividend overviews and transaction reports.

Foreign brokers like DEGIRO and eToro do not handle tax withholding, but they often provide CSV or PDF exports to help you compile your tax return manually. Some tools integrate with third-party tax reporting services, which is helpful for expats who file across multiple jurisdictions.

Stock Broker Fees in Germany

Fees vary widely across German stock brokers. Some offer flat or zero-commission models, while others charge per trade, per product, or per savings plan execution. Understanding total cost is essential—especially for frequent traders or long-term investors using ETF plans.

Typical cost types include

• Order commission: Fee per trade (fixed or percentage-based)
• Custody fee (Depotgebühr): Monthly or annual account maintenance
• ETF savings plan fee: Fee per scheduled investment
• Foreign exchange fee: When buying non-EUR stocks
• Inactivity or withdrawal fees: Charged by some foreign brokers

Broker fee comparison (2025)

Broker	Stock Trade (DE)	Custody Fee	ETF Savings Plan	FX Fee (US stocks)	Notable Features
Trade Republic	€1 flat	None	Free (select ETFs)	0.15%	App-based, fast onboarding
Scalable Capital	€0.99 or Free¹	None	Free (Prime)	0.15%	Web & app, automation focus
flatex	€5.90	€0.90/month	€1.50 per plan	Up to 0.40%	Full tax handling, broad product range
Comdirect	From €4.90	€1.95/month	€1.50 per plan	~0.25–0.50%	Linked to full-service banking
DEGIRO	€3.90	None	€1–Free	0.25%	Wide exchange access, manual tax
eToro	Free (spread-based)	None	Not supported	~0.5%	Fractional shares, social trading

Neo brokers offer extremely low trading costs with no custody fees, making them ideal for cost-sensitive investors. However, they may limit product access or provide fewer tools. Traditional brokers like Comdirect and flatex charge more, but include better reporting, service, and broader access to investment products.

DEGIRO remains one of the cheapest for international markets but lacks automatic German tax handling. eToro is commission-free but builds cost into spreads and charges higher FX conversion rates—best suited for simple buy-and-hold stock investing.

Taxes on Stocks and Dividends in Germany

Stock investing in Germany is subject to capital gains tax and dividend tax. Whether you’re buying through a German broker or a foreign platform, your profits must be reported and, in most cases, taxed.

Capital gains tax (Abgeltungsteuer)

Profits from selling stocks or ETFs are taxed at a flat rate of 25%, plus:

• Solidarity surcharge: 5.5% of the capital gains tax
• Church tax: If applicable (8–9% depending on region)

This brings the total tax rate to around 26.375% without church tax.

The first €1,000 in profits per year is tax-free (as of 2025), thanks to the Sparer-Pauschbetrag. Losses can be offset against gains in the same category within the same or future tax years.

Dividend taxation

Dividends are taxed the same way as capital gains—25% flat tax plus surcharges. If your broker is German, tax is withheld automatically when dividends are paid out. With foreign brokers, the full dividend is paid gross, and you’re responsible for declaring and paying tax via your annual return.

Dividends from foreign companies may also have withholding tax in the source country (e.g., 15% U.S. withholding). This can often be credited against your German tax liability—but only if proper documentation is provided.

Tax handling by broker type

• German brokers (e.g. flatex, Comdirect, Trade Republic) handle tax automatically and provide a Jahressteuerbescheinigung (annual tax certificate).
• Foreign brokers (e.g. DEGIRO, eToro) do not withhold tax. You must track all trades, calculate gains, and declare profits manually via ELSTER.

If you’re investing regularly or across multiple brokers, using a Steuerberater (tax advisor) is highly recommended—especially for expats unfamiliar with the German system.

Best Stock Brokers in Germany 2025

• Best for beginners: eToro
• Best for automated ETF investing: Scalable Capital
• Best for full-service banking + investing: Comdirect
• Best for active traders with tax support: flatex
• Best for global market access: DEGIRO
• Best for casual investors wanting crypto + stocks: eToro
• Best for long-term investors seeking classic funds: ING Germany
• Best for zero-fee savings plans (Prime): Scalable Capital (Prime)
• Best for investing with small amounts: Trade Republic (fractional shares)

How to Choose the Right Stock Broker in Germany

Choosing the right stock broker depends on how you invest, what markets you want access to, and how much help you expect from the platform. For most investors, fees, tax handling, platform usability, and long-term flexibility are the most important factors.

If you’re a beginner or passive investor, a mobile-first broker like Trade Republic or Scalable Capital offers low fees, simple navigation, and automated savings plans. These platforms also handle taxes automatically and require little technical knowledge.

More experienced investors may prefer brokers like flatex or DEGIRO, which offer access to more global markets and advanced order features. DEGIRO is ideal for low-cost international trading, but requires manual tax reporting. flatex is more comprehensive but includes custody fees.

If integrated banking is important, Comdirect or ING Germany allow you to manage your accounts, savings, and investments in one place. Their platforms are slower to use but come with broader service and product coverage.

Always check the following before choosing:

• Does the broker offer the markets and products you need?
• Are ETF savings plans available, and what do they cost?
• Does the platform provide proper tax documentation or automation?
• Is customer support available in English if needed?

It’s easy to switch brokers later, but starting with the right one saves time and prevents tax or transfer complications.

Investor Protection and Regulation

Stock brokers in Germany are regulated under BaFin or another EU authority like CySEC or AFM. All EU-regulated brokers must comply with MiFID II, which ensures:

• Client fund segregation (your money is kept separate from the broker’s)
• Negative balance protection (you can’t lose more than you invest)
• Standardized risk disclosures

German brokers are also part of the statutory deposit guarantee scheme, which protects:

• Cash deposits up to €100,000
• Securities, which are held in your name and not at risk if the broker fails

Foreign brokers operating legally in Germany offer similar protections but under their home regulator. Always check that the broker is licensed and transparent about its protection scheme.