Trade Republic has raised its interest rates and started bond trading. But the The hoped-for positive response did not materialize. Because the neobroker presented a new app at the same time and literally scared away its customers. The company also lacks almost any trace of critical ability. A comment.
“The new design is really bad”, “Please undo it” or “Why are you doing something like that”: this or something similar are currently the comments on an Instagram post in which Trade Republic praises its new app. But these examples are still comparatively harmless.
The neobroker is currently receiving a lot of criticism – and rightly so! While some users have already announced that they want to switch to the competitor Scalable Capital, others even describe the new design as “misleading”. So a classic case of “worse-improved”?
Trade Republic is dismantling itself with a new app
No! Because things get even worse, worse and better. Trade Republic reacts to over 1,000 Instagram comments alone (as of September 18, 2023), of which an estimated 99 percent are negative, with catastrophic reactions and incomprehensible incomprehension. Crisis communication? None!
For example, in response to constructive criticism, the neobroker asks for constructive criticism. Trade Republic labels comments about the missing menu, irritating charts or poor app navigation as “isolated cases” – with almost 1,000 negative comments – on Instagram alone. I’m confused by the number of unreported cases!
How a neobroker abolishes itself
Admittedly, I have definitely been a Trade Republic fan so far. A clear app, paired with a (so far) authentic image and fair conditions: the neobroker threw all of this out the window almost overnight with its app update and lack of crisis communication.
In recent years, the company’s community concept has been considered a unique selling point – even a secret to success. But true to the motto “never change a running system”, the company has lost its “running system”. A spectacular shot in the oven!
To be honest, “worse and better” is still a harmless term. Trade Republic even says that the new app is based on tests in the form of user feedback. So far, however, we have not been able to find a single consistently positive feedback regarding the app.
Whether it’s a lie, fake or inspired by yes-men: It’s not just the new Trade Republic app that makes you shudder, but also the creepy way it’s handled – although you can almost feel sorry for the social media department.