BoursoBank vs flatex — which broker is better?

Pros

• Four Euronext tariffs, from Découverte at EUR 1.99 per order up to EUR 500 to Ultimate Trader at EUR 9.90 up to EUR 10,000 for 30 or more orders a month
• Brokerage on a PEA, PEA 18-25 or PEA-PME is capped at 0.5% of the order, so a EUR 100 PEA order on Découverte costs EUR 0.50
• More than 275 Boursomarkets ETFs with no commission on purchase (75 of them PEA-eligible), plus partner funds and leverage products without brokerage
• No custody fee, free account opening and closing, and no monthly charge on the Découverte tariff
• Boursorama SA is a French bank authorised by the ACPR, supervised by the ACPR and the AMF, and part of the ECB-supervised Société Générale group, listed on Euronext Paris as GLE
• Acts as French paying agent: annual IFU, social contributions and the advance tax deducted on dividends, and the TTF collected on purchases
• A large free information service: real-time Euronext streaming, daily market briefings, partner analyses and the Bourso Campus video course

Cons

• Built for French tax residents: the app route expects a French tax address, a French phone number and possibly a French IBAN, foreign tax residents get in only 'under certain conditions' through a separate route, and they may not trade US markets
• We found no listed options, futures or CFDs in BoursoBank's product list or price brochure, and direct crypto is not offered (crypto only via ETNs); we found no fractional shares and no demo trading account beyond virtual portfolios
• Outside a PEA, Découverte charges 0.60% above EUR 500, and Classic and Trader cost EUR 5.95 in any month without an executed order
• Other European markets start at EUR 11.95 per order, and currency is converted at the next-day rate plus 0.0025 points
• We found service only in French (the general terms make French the sole binding language): phone Monday to Friday 08:00–20:00 and Saturday 08:45–16:30, otherwise the Bourso.IA chatbot (24/7) and written requests through the client area

Pros

• EUR 5.90 flat commission on German, US, Canadian and other foreign orders with no percentage component up to EUR 40,000 — a EUR 10,000 trade costs the same as a EUR 1,000 trade
• All ETF and fund savings plans execute at EUR 0.00 commission with over 5,000 plans available and no cap on the savings rate
• No custody fee, no account fee, no inactivity fee, and free incoming and outgoing depot transfers
• Genuine spot crypto in around 25 coins at 0.6%–0.7% all-in, traded through the regulated German bank and held by the BaFin-authorised custodian Tangany rather than as an ETN wrapper
• Full German banking licence under BaFin and Bundesbank supervision, with an MDAX-listed parent (flatexDEGIRO SE, ticker FTK) publishing audited accounts and over EUR 100 billion in customer securities under custody
• Tax-simple in both markets it serves: automatic German Abgeltungsteuer withholding and automatic Austrian KESt settlement at 27.5% on flatex.at
• Free foreign-currency sub-accounts, so USD or CHF proceeds can be held rather than converted back at a spread every time
• Fast onboarding — flatex advertises a five-minute fully digital account opening, and no minimum deposit applies

Cons

• 0.00% p.a. credit interest on cash balances. Competitors pay 1%–1.75% on the settlement or call account, so an investor holding EUR 20,000 in cash gives up EUR 200–350 a year that never shows up in any fee table
• Currency conversion costs an absolute margin of USD 0.0040 per euro — roughly 0.35% — which is worse than Consorsbank's published USD 0.0030 and far worse than a multi-currency specialist
• No Eurex or US options and futures trading at all. Certificates, knock-outs and Société Générale CFDs are the only leveraged instruments on offer
• The price list still meters real-time quotes — 25 free per month plus 10 per executed order, then EUR 0.01 per query — although flatex currently advertises Xetra real-time quotes as free until further notice; the professional flatex trader 2.0 platform costs EUR 15–39 a month on top
• The EUR 5.90 floor makes flatex expensive for small orders — a EUR 300 purchase pays about 2% in commission before venue costs, where a EUR 1 neobroker charges 0.3%
• Direct foreign market access is narrow: US, Canada, Euronext, Vienna, Zurich and Milan (sell only). There is no direct London, Tokyo, Hong Kong or Nordic access, and stock savings plans cost 1.00% of the rate