Cologne Digitization is turning the financial market upside down. At the forefront: online brokers, trading platforms and so-called neo-brokers who only offer digital products. “Radically new technology so that you can save” – this is how the neobroker Trade Republic advertises its services.
This message is addressed in particular to a younger clientele. Millennials and Generation Z in particular are increasingly asking for online trading. It is estimated that more than two million Germans are already using a neobroker.
The Statista platform forecasts this year’s transaction volume in the Neobroker segment to total around 139 million euros. As the demand increases, so does the supply. But which online broker is the best? The Frankfurt financial consultancy FMH followed up.
The experts examined various providers of digital financial services with regard to their user-friendliness and conditions. The focus of the analysis was on the costs per order and deposit as well as on the number of savings plans and trading places offered.
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