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We explain how easy it is to trade shares with Trade Republic. You will also find out what costs are involved and what advantages the neobroker brings with it.
Trade Republic: Trade shares via app
A trading app has many advantages, but most importantly, it makes stock trading much easier.
- With Trade Republic you have a large selection of 8,500 shares at your disposal. In addition, there are around 1,500 “exchange-traded funds”, known as ETFs for short, as well as around 300,000 derivatives and 51 cryptocurrencies. Trading takes place on the Hamburg Stock Exchange.
- In addition, you do not have to pay a custody fee, which is the rule at normal banks. However, you have to pay 1 euro each for the trades. The minimum investment volume is 10 euros.
- You also don’t have to worry about negative interest rates. In addition, securities trading has been supervised by the Federal Financial Supervisory Authority (BaFin) since 2019.
- Since January 2023, there is even two percent interest on uninvested credit. Trade Republic is therefore also suitable as a call money account. However, the interest is limited to a maximum balance of 50,000 euros.
- The simple operation of the app makes it well-suited for those starting out in the equities business.
- You can download the app free of charge from CHIP for both Android and iOS. However, you can also use the provider’s website.
How to set up the trading app
To set up the trading app, you need a current account. To set it up, follow these steps:
- Start the app and begin the setup process. You will need to verify your mobile number and then set a PIN for future login.
- You will also need to provide your personal details such as name, address and date of birth, as well as confirm that you are a German citizen and liable to pay taxes here.
- You must then confirm your identity by video identity. To do this, you must have your identity card ready.
- To complete the application, you must agree to the General Terms and Conditions, as well as the Trust Collection Account Agreement and the Data Protection Information. You must also agree to act on your own responsibility.
- Display: If you would like to open an ETF savings plan with Trade Republic, you can do so directly with the provider.
How to buy the first share with Trade Republic
When you’re done with setup, it doesn’t take much to buy your first share.
- Go to the magnifying glass in the app.
- Search for the securities or ETF you want.
- Tap on an entry to get details about it.
- Once you have decided, you need to scroll all the way down and tap on the buy button.
- You must now indicate the quantity you wish to purchase.
- To continue and view your order, you must now click on the blue circle with a white arrow.
- To finally execute the order, you must tap on the “buy now” button.
- You should soon be able to see the securities in your securities account. You will receive a message as soon as the order has been executed.
