Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

Stock trading app Trade Republic expands to France

German startup Trade Republic is rolling out its app and service in France this week. This is a significant expansion move as Trade Republic has only been available in Germany and Austria so far.

Trade Republic lets you buy and sell shares or exchange-traded funds (ETFs) from your phone with low, transparent fees. The company charges €1 ($1.21) in fees per order, whether you’re buying a single share worth €100 or allocating €10,000 of your savings on an ETF. The company promises that it doesn’t add any commission on top of that €1.

The startup lets you buy European shares as well as stock in Asian or American companies. Overall, there are 7,500 shares and ETFs available in the app. While the service is relatively new, Trade Republic has been working on its infrastructure for several years.

Behind the scenes, the company has partnered with Solarisbank, a German banking-as-a-service platform regulated by German authorities. It means that your deposits are covered up to €100,000 ($121,000) in case of bankruptcy. When you’re submitting an order, Trade Republic works with LS Exchange and HSBC Transaction Services to handle those shares.

Trade Republic wants to position itself differently from Robinhood. The company thinks there are currently two options when it comes to trading.

You can open a trading account with your bank or a legacy broker, but they’ll charge a lot of money. Or you can use a mobile-first broker, but they’ll push you toward risky assets and day-trading. And we’ve seen this week with the GameStop saga that the second option can lead to some backlash.

Trade Republic is promoting a third way — low fees and low risk. The company wants to promote savings plans for instance. Those plans let you buy shares progressively, which should protect users against volatility.

The company raised a €62 million funding round ($75.22 million at today’s rate) last year. The Series B round was co-led by Accel and Founders Fund.

As for French users, don’t forget that you have to declare that you have a foreign bank account when you file your taxes. Foreign brokers also don’t necessarily send information to tax authorities to pre-fill your tax reports. But if you’re fine with that, Trade Republic is most likely cheaper than your bank.

Trade Republic, a German Robinhood, raises $67M led by Accel and Founders Fund

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio...
Post a Comment
Read more

Leading VCs discuss how COVID-19 has impacted the world of digital health

In December 2019, Extra Crunch spoke to a group of investors leading the charge in health tech to discuss where they saw the most opportunity in the space leading into 2020 . At the time, respondents highlighted startups in digital therapeutics, telehealth and mental health that were improving medical practitioner efficiency or streamlining the distribution of care, amongst a variety of other digital health markets that were garnering the most attention. Where top VCs are investing in digital health In the months since, the COVID-19 crisis has debilitated national healthcare systems and the global economy. Weaknesses in healthcare systems have become clearer than ever, while startups and capital providers have struggled to operate while wide swaths of the market effectively shut down. Given significant volatility and the rapid changes seen in the worlds of healthcare, venture and startups broadly, we wanted to understand which inefficiencies might have been brought to light, w...
Post a Comment
Read more

News-reading app Flipboard expands local coverage, including coronavirus updates, to 12 more U.S. metros

Earlier this year, personalized news aggregation app Flipboard expanded into local news . The feature brought local news, sports, real estate, weather, transportation news and more to 23 cities across the U.S. Today, Flipboard is bringing local news to 12 more U.S. metros and is adding critical coronavirus local coverage to all of the 35 supported locales. The 12 new metros include the following:  Baltimore, Charlotte, Cleveland, Detroit, Indianapolis, Nashville, Pittsburgh, Orlando, Raleigh, Salt Lake City, St. Louis, and Tampa Bay. They join the 23 cities that were already supported:  Atlanta, Austin, Boston, Chicago, Dallas, Denver, Houston, Las Vegas, Los Angeles, Miami, Minneapolis-St. Paul, New Orleans, New York City, Philadelphia, Phoenix, Portland, Sacramento, San Diego, San Francisco Bay Area, Seattle, Toronto, Vancouver and Washington, D.C. To offer local news in its app, Flipboard works with area partners, big and small, like The Plain Dealer’s Cleveland.com , ...
Post a Comment
Read more