flatex Review 2026: Our Complete Analysis
Last updated: 01/2026 | view the full broker profile
If you are looking for a regulated German broker with a full banking license, this review of flatex covers everything you need to know. From its BaFin oversight and 0 EUR ETF savings plans to its commission structure and platform ecosystem, we break down whether flatex is the right choice for your portfolio in 2026.
Quick Scoring
| Criterion | Score |
|---|---|
| Regulation and safety | 9/10 |
| Fees and commissions | 6/10 |
| Product range | 8/10 |
| Platforms and tools | 7/10 |
| Customer support | 6/10 |
| Overall | 7.2/10 |
About flatex
flatex was founded in 2006 in Kulmbach, Bavaria. It operates under the legal entity flatexDEGIRO Bank AG, headquartered in Frankfurt, Germany. Following its 2020 merger with the Dutch broker DEGIRO, the group now serves over 3 million clients combined — approximately 450,000 under the flatex brand (primarily Germany and Austria) and 2.5 million via DEGIRO across the rest of Europe.
The company is publicly listed on the Frankfurt Stock Exchange under the ticker ETR:FTK, adding a layer of financial transparency that many retail brokers cannot match.
flatex retains a distinct identity from DEGIRO: it targets a German, Austrian, and Dutch audience with a full banking license, an integrated current account, and a debit card. If you are based outside DE/AT/NL, note that flatex does not currently serve other markets — the DEGIRO brand covers the broader European client base.
The broker offers access to 35+ European exchanges plus US markets, covering equities, ETFs, funds, bonds, derivatives (warrants, turbos, options, futures), all within a single account.
Regulation and Fund Security
flatex is one of the few retail brokers in Europe that holds a full banking license — not just an investment firm authorization. This distinction matters for fund protection.
| Regulator | Country | License Type |
|---|---|---|
| BaFin | Germany | Full banking license |
| Bundesbank | Germany | Supervised entity |
| AFM | Netherlands | Supervised (DEGIRO branch) |
Fund protection breakdown:
- Deposit guarantee: 100,000 EUR per client (German deposit guarantee scheme)
- Securities protection: 90% of securities value up to 20,000 EUR
- Negative balance protection: Not available (not a CFD broker, so standard market risk applies)
- Client funds: Segregated from company assets
Is flatex safe? Given its BaFin banking license, Frankfurt Stock Exchange listing, and German deposit guarantee, the answer is a firm yes by European standards. The regulatory framework here is among the strongest available to retail investors.
Trading Conditions
Commission Structure
flatex does not use a spread-based model. It operates exclusively on cash markets (Xetra, Tradegate, Frankfurt, Quotrix, Baader Bank, and others), with fixed commissions per order.
| Account Type | Commission | Min. Deposit |
|---|---|---|
| Standard | 5.90 EUR per order (flatpaid) | 0 EUR |
| flatex next (mobile-first) | 5.90 EUR per order + 0 EUR on eligible ETFs | 0 EUR |
The flatpaid model means you pay a flat fee of 5.90 EUR per trade regardless of order size. For larger orders, this can be cost-effective. For smaller, frequent trades, it is less competitive compared to Trade Republic (1 EUR flat) or DEGIRO.
Free trading: Over 350 ETFs are available at 0 EUR commission. Certain funds are also included in this zero-commission tier. This makes flatex genuinely attractive for ETF buy-and-hold investors who trade infrequently.
What flatex does not offer:
- No CFDs
- No forex pairs
- No cryptocurrency trading
- No fractional shares
- No leverage for retail clients (leverage is available only through derivatives such as warrants and turbos)
Execution model: Cash market only. No scalping, no hedging, no automated trading (EAs not supported). Trailing stops are available.
Tradable Instruments
flatex offers a wide product range focused on traditional securities and exchange-listed derivatives.
| Asset Class | Available Instruments |
|---|---|
| Equities | 15,000+ stocks across 35+ exchanges |
| ETFs | 2,500+ (350+ free) |
| Funds | 8,000+ (including zero-commission options) |
| Bonds | 500+ |
| Futures | 500+ (Eurex, CME) |
| Derivatives | 50,000+ (warrants, turbos, options) |
| Forex / CFD / Crypto | Not available |
The derivatives range — 50,000+ warrants, turbos, and options — is particularly notable. These are exchange-listed instruments, not OTC CFDs. They carry significant risk but are subject to regulated exchange oversight.
For long-term investors seeking diversified exposure to European and US equities plus ETFs, the instrument breadth is strong. For traders who need forex, crypto, or CFD leverage, flatex is not the right platform.
Trading Platforms
flatex provides three platform options:
| Platform | Type | Key Feature |
|---|---|---|
| flatex Web Filiale | Web + Mobile | Full account management, order placement |
| flatex App | Mobile only | Streamlined mobile trading (flatex next) |
| flatex Trader | Desktop | Advanced charting, real-time order book, pro tools |
The flatex Trader desktop application is aimed at more active traders, particularly those using derivatives. It includes a real-time order book, advanced charting, and deeper market data functionality.
The flatex App serves a younger, mobile-first audience and is tied to the flatex next offering. It covers core functionality but lacks the depth of the desktop version.
Additional tools available:
- Stock screener
- Real-time order book
- Integrated current account and debit card
- API trading access
- flatpaid subscription management
Third-party platforms such as MetaTrader 4/5 are not supported. For active traders accustomed to MT4 or cTrader, this is a limitation.
Deposits and Withdrawals
| Method | Deposit Fee | Withdrawal Fee | Processing Time |
|---|---|---|---|
| SEPA bank transfer | Free | Free | 1-2 business days |
| Debit/credit card | Free | N/A | Standard |
| Sofort | Free | N/A | Standard |
Minimum deposit: 0 EUR — there is no minimum to open an account.
Inactivity fee: No standard inactivity fee. However, a Premium plan fee may apply to inactive accounts depending on account conditions.
The inclusion of a current account and debit card distinguishes flatex from most retail brokers. You can hold cash balances in your flatex account and use the card for everyday spending — a feature uncommon among pure-play investment platforms.
Withdrawals are free and processed within 1-2 business days via SEPA. The base currency is EUR; multi-currency support exists in practice, but the account is EUR-denominated.
Customer Support and Education
Support availability:
| Channel | Hours | Languages |
|---|---|---|
| Telephone | Mon-Fri, 08:00-20:00 | DE, NL, EN |
| Mon-Fri, 08:00-20:00 | DE, NL, EN |
English support is available, which is useful for expats in Germany or Austria. Live chat is not offered, which is a gap compared to modern broker standards.
Educational resources:
- Demo account available
- Video tutorials
- Webinars
- E-books and guides
The educational offering covers the basics but is not extensive by industry standards. Content is primarily in German, which reflects the broker's target audience. English-language content is more limited.
For advanced traders, the platform tools (real-time order book, API access) serve as functional learning aids. But beginners should not expect a comprehensive English-language learning hub.
Pros and Cons
Pros:
- Full BaFin banking license — among the strongest regulatory credentials in European retail brokerage
- German deposit guarantee: 100,000 EUR cash + up to 20,000 EUR securities
- 0 EUR commission on 350+ ETFs — appealing for passive investors
- 15,000+ stocks and 50,000+ derivatives across 35+ exchanges
- Integrated current account with debit card — rare for a broker
- Listed on Frankfurt Stock Exchange (ETR:FTK) — financial transparency
- flatex Trader desktop platform for active and derivative traders
Cons:
- Available only in Germany, Austria, and the Netherlands — not accessible in France, UK, US, or most markets
- 5.90 EUR per order is higher than DEGIRO and Trade Republic for small trades
- No CFDs, no forex, no cryptocurrency
- No fractional shares
- English content and support are limited compared to German-language resources
- No live chat support
- flatex next mobile app lacks the depth of the desktop platform
Verdict
flatex reviewed in 2026 presents a compelling case for long-term, securities-focused investors based in Germany, Austria, or the Netherlands. The BaFin banking license, 100,000 EUR deposit guarantee, and Frankfurt Stock Exchange listing place it in a distinct tier of regulatory credibility.
The flat 5.90 EUR commission is not the cheapest in its market — Trade Republic charges 1 EUR, and DEGIRO undercuts flatex on most order types. However, the zero-commission ETF range and integrated banking features (current account, debit card, SEPA withdrawals at no cost) offer genuine value for buy-and-hold investors who trade infrequently.
Active traders seeking CFDs, forex, or crypto will need to look elsewhere. flatex is a traditional securities broker with a strong compliance framework, not a speculation-focused platform.
Final score: 7.2/10 — A well-regulated, product-rich broker for European long-term investors, held back by higher per-order fees and geographic limitations.
Trading involves risk of capital loss.
FAQ
Is flatex available in the UK or US? No. flatex currently serves clients in Germany, Austria, and the Netherlands only. UK and US residents are not eligible. The DEGIRO brand serves the broader European market.
Is flatex safe and regulated? Yes. flatex holds a full banking license from BaFin and is supervised by the Bundesbank. Client deposits are protected up to 100,000 EUR under the German deposit guarantee scheme.
What is the flatpaid model? Flatpaid means a fixed 5.90 EUR fee per order regardless of trade size. It also refers to the eligibility structure for free ETF trading on 350+ selected ETFs.
Does flatex offer cryptocurrency trading? No. flatex does not offer crypto, forex pairs, or CFD products. The platform focuses exclusively on exchange-listed securities and derivatives.
Can I open a flatex account with no minimum deposit? Yes. The minimum deposit is 0 EUR. There is no required initial funding to open an account.
How does flatex compare to DEGIRO? flatex and DEGIRO are part of the same parent group (flatexDEGIRO Bank AG), but operate as separate brands. DEGIRO typically charges lower commissions and is available across more European countries. flatex offers a full banking license, integrated current account, and a wider derivatives range.
What platforms does flatex offer? flatex provides a web platform (Web Filiale), a mobile app (flatex App), and a desktop application (flatex Trader). MetaTrader and other third-party platforms are not supported.
Are there inactivity fees at flatex? There is no standard inactivity fee disclosed. However, a Premium plan fee may apply under certain inactive account conditions. Review current terms directly with flatex before opening an account.
Article by the Analyse Trading team (@analysetrading) · Updated 01/2026 · view the full broker profile
Disclaimer: Trading involves high risk of capital loss. This article is for informational purposes only and does not constitute investment advice.