N26 now offers a depot. Neobank customers can trade stocks and ETFs within the app. We'll tell you how high the fees are and what's behind the offer.
N26 specializes in online banking via smartphone. In order to attract new customers, the neobank has now also introduced a depository function. The company now allows its customers to trade stocks and ETFs within the app. This puts N26 in competition with neobrokers such as Trade Republic and Scalable Capital.
N26 Depot: Trade stocks and ETFs via smartphone app
Online stock trading is booming. More and more providers are recruiting customers who want to trade securities or index funds (ETFs) quickly and cheaply via smartphone. However, direct banks such as the Commerzbank subsidiary Comdirect or Consorsbank are now in a price war with neobrokers such as Trade Republic, Scalable Capital and Smartbroker.
Because these so-called online brokers offer trading in stocks and ETFs almost for free. Some, like Trade Republic, now even offer daily and fixed-term deposit accounts as well as credit cards. In doing so, they are attacking N26's core business, among other things. Now the neobank has, in a sense, launched a counterattack.
Open an account and securities account with N26 now
Buy shares at N26
In a press release on April 3, 2024, N26 initially announced trading in 200 stocks and ETFs in Germany. The offer will therefore be expanded to around 1,000 stocks and over 1,000 ETFs in the future. The technical implementation of the depot is based on a partnership with the financial start-up Upvest, which, like N26, comes from Berlin and offers brokers the necessary programming interface (API).
With a flat fee of 0.90 euros per purchase or sale, N26's portfolio can definitely keep up with the competition. In addition to a free basic account, the Berlin neobank also offers three other account types with a fee of 4.90 euros to 16.90 euros.
Depending on the account model, N26 now also promises interest of up to four percent on overnight investments. This puts the company on par with Neobroker Trade Republic, among others. The increased interest rates are scheduled to apply from April 9, 2024.
Open an account and securities account with N26 now
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Source: https://www.basicthinking.de/blog/2024/04/06/n26-depot-neobank-startet-handel-mit-aktien-und-etfs-per-app/
