As a subsidiary of a FinTech company, flatex explicitly, but in no way exclusively addresses active and professional traders. Especially from the perspective of investors engaged in limited trading activities, the following is considered a big plus in our flatex review: Account management is free of charge without any restrictions and conditions. Securities account statements are only free as long as they are retrieved via the electronic postbox.
In addition, exchange-site fees are charged, which are covered through trading-site-dependent charges by other brokers. For an order via the electronic trading platform Xetra, the exchange fees for an average transaction volume amount to approx. The domestic trade conditions are a significant pro in our flatex review.
The order fees are lower than that of almost all competitors, regardless of the transaction volume. In the case of most of the direct competitors, the minimum fee, which is independent of the transaction volume, exceeds the flatex flat rate.
One weakness of the broker's fee structure affects dividend credits: In , flatex introduced ETF savings plans. The savings plan fees are a big plus in our broker review: In addition to securities trading, flatex offers derivative contracts CFDs and foreign currency pairs Forex trading. Trading is based on a market maker model and Commerzbank AG acts as market maker. Trading in stock CFDs involves a commission of 0.
For the DAX future, the commission amounts to 0. Trading almost all other base values indices, commodities, foreign exchange is commission-free. In this case, market makers and intermediaries flatex generate their contribution margin exclusively via the spreads.
In particular, CFD trade beginners, who are giving an off-market broker such as flatex a try for the first time, should be aware of the problem of market-making outside of stock exchanges: The market maker itself is buying and selling and can act contrary to the interests of its customers.
In addition, CFD trading is possible via an integrated solution without having to open an additional account. While the flat-rate and low-priced pricing model as a whole are a major plus in our flatex review, there remains a certain lack of transparency with regard to the exchange fees.
Other brokers set a trading tariff, via which the exchange fees are paid. Others, however, charge both a trading centre fee and stock exchange fees.
The fact that no other solution, which is more transparent to customers, has been found is a weak point in our flatex review, which is likely going to be a problem for most customers.
Around exchange-traded index funds ETFs are accessible through savings plans. For exchange trading, investors can choose between a free basic platform and paid expansion modules. Intelligent order types play an increasingly important role in active trading.
This particularly applies to investors who do not trade in an automated manner, but who want to implement entry and exit signals precisely and without continuous monitoring of the market. There are half a dozen order types available via the flatex platforms: Stop, limit, stop limit, if done, OCO, and trailing stop orders — for purchase and sales orders.
For the majority of investors who are giving flatex a try, this selection should suffice since its is mainly professional traders that use even more specific order types. Nevertheless, there are brokers with a much larger selection. The order functions of the trading platform are thus neither a pro nor a con in our flatex review. Despite favourable ETF savings plans, a large number of customers, who are giving flatex a try, are either active or even semi-professional traders.
In the securities business, the broker has opted for a free basic platform, which can be extended via additional modules that are subject to a charge. The screenshot above was taken from flatex Desk Trader web-based version. The platform provides a relatively comprehensive charting tool. Various chart display options, technical indicators such as MACD, RSI, or stochastics, as well as drawing tools are complemented by tools that are not available as part of the software of most other brokers.
This is the case, for example, for a scanner that can be used to search for candlestick formations morning star, evening star, hammer, etc. If these formations are found in the chart, they are highlighted. However, a powerful market scanner, which can be used to search dozens of markets for different technical criteria, is not part of the basic software package.
This platform has been equipped with a charting tool, various indicators, and other functions. Using this tool, technical strategies can be implemented, trading signals can be received via tickers and chart signals in real-time, extended lists can be used, and fundamental scans can be carried out. Even though the particularly useful tools that exceed the current industry standards are only available to paying subscribers, the range of available software solutions is a big plus in our flatex review.
This means that deposits on clearing accounts are legally held in biw bank accounts. However, biw Bank has since announced the end of its membership. In particular, CFD beginners, who want to try a broker like flatex for the first time, should pay attention to the rules regarding margin-call obligations: If losses occur beyond the existing account balances, they must be made up for by the customer.
The broker does not explicitly forgo additional claims. Such claims can arise if deficit positions cannot be closed in time or only at a price very far from the entry price due to extreme market volatility or major price gaps. At flatex, automated FX trading is possible via the MetaTrader 4 trading platform. Expert Advisors is at the centre of all automated trading: These are scripts or codes for complete mechanical trading systems, which can automatically be applied to the trading account if required.
In this regard, MetaTrader 4 offers a significant advantage over other platforms: Given the large reach of the software, it provides a large number of ready-to-use trading systems, which can be imported into the software at any time. This means that tried and tested automated trading systems can be used without the need for special programming knowledge.
A back test module is part of MT4: Mechanical trading systems can hypothetically be used in the past. The back test is used to determine the performance that the respective strategy would have achieved in actual use.
The securities deposit can be opened without a minimum deposit and can, for example, be used exclusively for regular investments in ETF savings plans. Deposits can be made by bank transfer. Individual and community accounts can be opened. Customers from Austria can also open an account or securities deposit via www. The account opening form on the screen should be filled out.
The application documents are then sent by PDF. The legally required ID verification of new customers can be carried out either using the Postident or via the video iTAN method.
In case of Postident, which has been in use for many years, a coupon and an official photo ID are presented to an employee at a Deutsche Post office. The still relatively new video identification procedure provides for ID verification within the framework of a video chat.
An official government-issued ID is required as well. In addition to flatex, the company's portfolio includes biw AG which acts as a white label bank not only for flatex, but for other companies, too , XCOM software and technology , and ViTrade. FinTech Group describes itself as one of the market and innovation leaders for online brokerage.
According to the company data, more than 5 million securities transactions were executed via the company's platform in the first half of Even the first customers, who gave flatex a try after the founding of the broker in , were confronted with a new price model.
To date, flatex is regarded as a particularly innovative company thanks to its affiliation with the FinTech Group. The broker conducts seminars on a regular basis and also provides clients and interested parties with video tutorials, which deal with the broker's products and platforms as well as general issues and questions concerning securities and trading. The seminar section includes live-trading events as well as themed webinars for the development of trading strategies, indicators, trends, and other topics.
The broker's customer service team is available via phone and e-mail. There is a hotline for existing and prospective customers. As a rule, specialized brokers without their own direct banking business are expected to offer a higher or more specialized service quality than most broad-based direct banks.
This expectation was met by flatex: The customer service agents were able to quickly and completely resolve a relatively complicated request. The broker, like most of its competitors, offers a customer referral program. If an existing customer e.
The conditions for domestic stock market trading almost surpass those of the entire competition: With its flat-rate price model, the Kulmbach company has put pressure to innovate on all German brokers, which still continues to be the case today. The free trading platforms offer more useful features than the average competitor and the fee-based additional modules should meet the requirements of professional traders. The FinTech Group subsidiary, flatex, is a suitable address for all those who want to invest in securities and do not primarily trade abroad — and for those who wish to trade CFDs and Forex using a German broker.
One of the Cheapest Brokers flatex, the online broker based in Kulmbach, is one of the most inexpensive brokers in the domestic exchange market: CFD Trading at flatex. Order Types at flatex. Latest posts by onlinebroker. Diese Website benutzt Cookies. Akzeptieren Erfahren Sie mehr.More...