flatex is the “TOP Online Broker”

flatex is the “TOP Online Broker”, as evaluated by WirtschaftsWoche and DKI (Deutsches Kundeninstitut)

flatex offers particularly affordable conditions for funds and ETFs, concluded a current comparison of the Deutsches Kundeninstitut (DKI) on behalf of WirtschaftsWoche.

Investors pay increasing attention on lowering the costs for their securities account—a sensible measure in light of ever lower interest rates and rising fees. Therefore, switching to an affordable custodian bank is worthwhile for many investors. No one needs to worry about lots of red tape in this regard, since the switch is done for most investors by submitting a request. The decision of which broker the investor who is willing to change requires more effort. Often, brokers offer only particular services at affordable conditions while everything else in turn costs more money. Besides the affordable price, therefore, it is decisive what the investor wants to trade or invest in.

To find out which brokers offer what services at affordable conditions, the DKI on behalf of WirtschaftsWoche created a ranking of the 15 most affordable online custodian banks by means of two sample customers. The first sample customer is an occasional trader with one to two orders per month and the second one is a frequent trader with 40 orders per month. Both trade in a wide spread with order volumes of €1000, €5000 and €10,000. The online brokers were evaluated in the categories of stocks, ETFs & funds, bonds and certificates. Decisive for the evaluation were the offer range, the conditions and the customer service. The broker could attain additional bonus points through customer ratings, for which purpose 3,800 customers were surveyed online.

The result: Therefore, switching to an affordable custodian bank is worthwhile for many investors. The order fees of the most expensive broker were about ten times higher than those of the most affordable one. Those who would like to trade more than one asset class should decide for an affordable universal broker. In the lead here is the online broker flatex, which has “very good” and “good” results in all categories. flatex offers “particularly affordable conditions for trading ETFs and funds” [1], WirtschaftsWoche is happy to say. Accordingly, a savings plan at flatex costs between €0 and at most €0.90 per transaction. Furthermore, flatex is one of the brokers with the biggest choice of tradable funds and ETFs. Yet, also in the categories of “bonds”, “customer service” and in the online customer survey, flatex achieved especially good results. This should not least be for the reason of the customer-friendly flat fee for orders of just €5 per order. In the ranking of the overall winners, flatex takes a very good second place, making it the “TOP online broker”.