Trading Apps in comparison! Trade Republic, eToro, flatex + Scalable Capital useful? Test

Trading Apps Comparison – There are many apps and few in which you can 1) sign up quickly [in a few minutes], find a 2) wide range of financial products [stock, ETF, crypto, etc.] and 3) have no costs, as in traditional banks (deposit and order). Trading cheaply has never been easier, thanks to tranding apps you can find for free in Google’s PlayStore and Apple’s iStore. My top 4, with 1st & 2nd place being the best (free deposit and free order): Trade Republic, eToro, Scalable Capital and flatex. Why and why, you can find out here!

Trading 2023: Which app is useful?

All of them have been test winners in renowned compare, depending on which aspects were more or less in the focus of the test.

The A&O for trading 2023 is the quick and easy (also free of charge) deposit opening. Usually 3-5 minutes with the ID card for identification and you’re ready to go. There should be no costs for the depot, but also for trading. Tip: Place 1 + 2 are 100% free, as far as depot and trades are concerned.

In addition, of course, there is the large product selection. Starting with shares from different countries, ETFs (i.e. “bundled shares”), cryptocurrencies, commodities such as gold, oil, etc. At eToro (2nd place), you can “follow” other traders as an extra feature. This automatically copies their trades, all purchases and sales. With a look back at their investment history, an interesting tool for investors.

The most important services from experience:

  • Availability via app (smartphone) and browser (notebook)
  • Quick and easy deposit opening
  • No account and custody fees
  • Fair fixed prices
  • Favorable conditions
  • Large product selection (stock, ETF, crypto, commodities, etc.)

Caution. 3 simple golden trading tips

Before we get to my app recommendations and experiences, here are 3 important ground rules for beginners:

  1. Don’t put all your eggs in one basket – diversifyyour investments
  2. Trading only with “play money” – money that is not needed
  3. “All time high” – values always rise in the long run (safe ETF and funds [like DAX or DOW), think long term

Short / medium and long term: trading differences

Here again, very, very generally set up, which types of investments take place in which time periods:

  • Long-term / quiet “trading” – Tip: Buy first property
  • Long / medium term trading – ETF (“bundle of shares” of one industry)
  • Medium-term trading – shares
  • Medium / Short Term Trading – Cryptocurrency
  • Short term trading – currencies

Long term: > 1 year
Medium term: ~ 1 – 12 months
Short term: ~ 1 week – 1 month

Tip. If cryptocurrency (like BitCoin, Ethereum, etc.) is held for more than 1 year, the gains are tax-free. Otherwise, capital gains tax (25% on gains) will apply.

Trade Republic: Rank 1 / Rating 8.9 out of 10

Trade Republic is Made in Germany and one of the success models and “Unicorns” (startup worth over 1 billion) in Germany. “Despite” being located in Germany, the app for iOS and Android offers the finest trading experience, from home and on the go.

All major stock market securities can be traded in the app: Stock, ETF, Crypto, Commodities, etc. Registration and login is done in less than 5 minutes.

Trade Republic does not cost money, the app is free, account management and custody, there are also no order fees. Therefore, deservedly, according to all experience in the first place.

Advantages / Disadvantages: No fees, operated + Made in Germany

My rating for the eToro app:

8.9 / 10 *

Trade Republic Disadvantages:

  • Fast online registration (with ID card)
  • No order fees
  • No custody fees
  • Developed and operated in Germany

Trade Republic Disadvantages:

  • None

Trade Republic App Download: Free

Open a Trade Republic account now:

EToro: Rank 2 / Rating 8.8 out of 10

eToro is, next to Trade Republic, my favorite app for trading on the go, in the office and at home. eToro is probably already known to many from TV commercials. As a US company, the startup naturally has much more capital than Trade Republic, for example.

After all my eToro experience, I can guarantee that the app is stable. Simple and fast registration via the app, deposit money, and you’re ready to go.

eToro has no custody fees, no account fees, no order fees. By the way, this is only the case with #1 and #2, the other apps always charge at some point. More about that in a moment!

Advantages / Disadvantages: No fees, traders copy, …

My rating for the eToro app:

8.8 / 10 *

Advantages of eToro:

  • Fast online registration (with ID card)
  • No order fees
  • No custody fees
  • Copy other traders (their trades)

Disadvantages of eToro:

  • Caution: Only private people are allowed to trade (business will be terminated immediately; even in minus)

EToro App Download: Free

Open an eToro account now:

Here are two extra guides from me, for eToro Trading:

Scalable Capital: Rank 3 / Rating 7.4 out of 10

Scalable Capital ‘s app runs flawlessly, almost everything can be traded, but the securities account costs 2.99 euros per month. Okay, it’s only 3 euros, but custody account fees are no longer state of the art. Therefore, in line with the 3 euros per month, only in 3rd place in the ranking and test, the app from Scalable Capital.

Advantages / Disadvantages: Custody fees, …

My rating for the Scalable Capital app:

7.4 / 10 *

Advantages of Scalable Capital:

  • Fast online registration (with ID card)
  • No order fees

Disadvantage of Scalable Capital:

  • Deposit fees: 2.99 euros per month

Trade now with Scalable Capital:

Flatex: Rank 4 / Rating 7.1 out of 10

Solid app, solid trading, but: What is even “worse” than custody fees of 2.99 euros per month, as in 3rd place? Order fees. Because for each trade at flatex, is paid extra. If you don’t trade in 1,000 euro or dollar increments, but with only 50 euros per trade or 100 euros per trade, you lose money that you don’t have to lose (see 1st, 2nd and maybe 3rd place).

That’s why it’s only 4th in the ranking of the best trading apps.

Advantages / Disadvantages: Order fees for stock trading, …

My rating for the eToro app:

7.1 / 10 *

Advantages of flatex:

  • Fast online registration (with ID card)
  • No custody fees

Disadvantages of flatex:

  • Order fees

Flatex App Download: Free of charge

Open a flatex securities account now:

More trading knowledge for beginners

Here’s a little bonus and digression about trading with apps:

Share, ETF, Crypto & Co. – My experience

Stocks, ETF, Forex, Cryptocurrency, Social Trading – Here’s a little list of a few learnings that cost me money but are so simple you should know them! Want to buy stocks, index funds, cryptocurrency like Bitcoin or Ethereum, foreign exchange (currencies)?

Currencies – Trading with “classic” FIAT currency

Learn currency trading – How can you trade with Euro, Dollar & Co. How does currency trading (Forex/FOREX) work? ETFs are speculative, stocks are more speculative, currency trading is mostly trading in real time: Constantly stay in between financial / political / economic news and price development. For beginners, this means building understanding step by step. What is it about?

Cryptocurrencies – Trade BitCoin, Ethereum & Co.

Crypto Trading – Make quick money with cryptocurrencies! The world is not that simple! Or is it? With the important trading strategies, can be achieved with cryptocurrencies, as strong returns, as with shares, of course, with higher risk. But how does crypto trading work? Are there differences in trading and risk?