finanzen.net ZERO vs Trade Republic — which broker is better?

Pros

• EUR 0.00 order commission on shares, ETFs, funds, certificates and warrants, with no custody fee, no third-party cost surcharge and no venue fee
• Savings plans in shares, ETFs and funds cost EUR 0.00 from EUR 1.00 per instalment and carry no minimum-quantity surcharge
• Best-rated app in the German neobroker field - roughly 4.7 out of 5 across about 26,000 German App Store ratings - with limit, stop, stop-limit, trailing stop-loss and OCO orders
• Trading is embedded in finanzen.net, Germany's largest retail finance portal, so quotes, news and instrument data sit beside the order ticket at no extra cost
• Extended hours: securities from 07:30 to 23:00 on weekdays and 14:00 to 19:00 on Saturdays, crypto 24/7
• Real spot crypto in the same account - 59 coins held by BaFin-supervised Tangany GmbH in Germany, plus more than 50 crypto ETPs including staking products
• Junior account on identical terms with no running costs, and Swiss share trading is supported
• Full German tax handling through Baader Bank: automatic Abgeltungsteuer, Freistellungsauftrag, loss offsetting and annual tax documents

Cons

• One trading venue only. Every order goes to gettex, so you cannot compare quotes, and outside Xetra core hours (09:00-17:30) the spread is the entire cost of your trade with nothing to benchmark it against
• No telephone support of any kind - the only channel is a ticket system inside the login, which Finanztip also flags as the reason ZERO scores mid-table on service
• The Fair Use Policy explicitly reserves the right to terminate clients for automated or high-frequency trading, latency arbitrage, 'economically pointless' transactions, or simply never funding the account
• Crypto costs 1.0% of order value in commission (0.5% brokerage plus 0.5% settlement) on top of the spread, and coins can be neither deposited nor withdrawn - the wallet is a closed system
• Three-company structure: finanzen.net zero GmbH is only a tied agent with no licence, DonauCapital Wertpapier GmbH carries the liability, and Baader Bank holds the assets. It is legal and disclosed, but there is no single accountable balance sheet
• No individual bonds, no joint or second accounts, no business accounts, no demo account, and uninvested cash pays 0.00% p.a.

Pros

• Flat EUR 1.00 external settlement cost per order with no percentage, no minimum and no maximum - a EUR 50,000 trade costs the same as a EUR 50 one.
• Savings plans in stocks, ETFs, bonds and crypto execute at EUR 0 from EUR 1 per instalment, with fractional shares across roughly 4,900 assets.
• Full ECB banking licence held directly since December 2023, with cash covered to EUR 100,000 by the German statutory deposit guarantee.
• Interest paid on uninvested cash - 2.5% p.a. in Germany and around 3% p.a. in several other markets - instead of the zero most brokers pay.
• One app carries the securities account, a personal German IBAN, a Visa debit card and Saveback of up to 1% of card spend, capped at EUR 15 per month.
• Around 500 bonds tradable in small denominations, giving retail investors direct access to a market that usually starts at EUR 100,000 tickets.
• German residents get Abgeltungsteuer withheld and remitted automatically, so no capital gains filing is required.
• Transferring securities out to another broker costs nothing, so a portfolio built here is not locked in by exit fees.

Cons

• Since the EU banned payment for order flow in June 2026, the default 'Best Price' route fills against Trade Republic's own book - it sets the price it profits from, and publishes no spread data.
• Customer support is started from inside the app - by phone or live chat, 24 hours a day, according to Trade Republic - and there are no branches to walk into; stalled transfers and locked accounts are the dominant complaint in a Trustpilot score of roughly 3.3.
• FX cost on US shares is embedded in the quoted euro price on the default route rather than itemised, and a Direct Price order to Nasdaq or NYSE is converted at execution with no disclosed markup, so the real cost of a foreign-currency trade cannot be verified from Trade Republic's documents.
• No options, no futures, no mutual funds and no direct exchange access on the default route - the product range stops well short of a full-service broker.
• The price list we could obtain is the April 2023 edition; the current version is only reachable inside the app, so any fee you read elsewhere should be checked against the schedule in your own account.
• Tax is handled at source for German residents only; investors in the other 17 markets file everything themselves.