How to open a Trade Republic account: A guide for 2026
Don’t have an account with the popular broker Trade Republic yet and interested in opening a trading account? Here you’ll find a step-by-step guide to signing up and some important information you should bear in mind before you get started.
In brief:
- The popular German broker Trade Republic isn’t just easy to use; opening a trading account is also a straightforward process
- We explain the requirements you need to meet and the documents you will need
- Opening an account involves several steps. The time it takes can vary considerably
Is it worth opening a Trade Republic account?
With over 2.5 million customers in Germany, Trade Republic is one of the country’s most popular brokers. Having so many users is a real success story – especially when you consider that it has only been possible to open a trading account since 2017!
The main reason for the Berlin-based company’s success is undoubtedly its low fees: you pay just €1 per transaction for derivatives, ETFs or shares, and you can even set up an ETF or share savings plan completely free of charge. What’s more, Trade Republic pays interest on your uninvested capital. Opening and maintaining a custody account is, of course, also free of charge.
Since 2024, the company has also held a full banking licence from the German Financial Supervisory Authority (BaFin). As a fully-fledged bank, TR can now offer current accounts, amongst other services. The account is free of charge – you simply pay €5 for your debit card (or €50 for a premium metal card). This means it is now competing with other online banks such as ING and Consorsbank.
You can find out more about the services offered by Germany’s most popular direct bank in my review of ING DiBa.
Thanks to its low fees and user-friendly interface, opening a trading account with Trade Republic is particularly worthwhile for private investors looking to build their wealth over the long term. It is therefore a great way for beginners to learn how to invest.
The product range comprises around 8,500 shares, including the most important and well-known securities from Europe and North America. There are also around 2,200 ETFs. These are predominantly equity ETFs, but bond, commodity and property ETFs are also available.
Cryptocurrencies are also part of the product range. There are currently 54 cryptocurrencies available for trading. They are held in custody for you by a service provider, but unfortunately cannot be sent, received or staked. Nevertheless, the offering is attractive and, thanks to its user-friendly interface, is the go-to platform for crypto investments for many investors.
Advantages and disadvantages
Whether this Berlin-based company is the right broker for you depends largely on your personal goals, financial resources and previous experience. To help you make your decision, I have summarised the key pros and cons for you:
In favour of the broker:
- Consistently low fees. The pricing model is kept as simple as possible: you pay just €1 per transaction. Savings plans are even completely free of charge (however, if you wish to sell your accumulated investments later, a €1 fee will apply to the sale).
- There are no hidden costs or other charges at Trade Republic. Whilst a standard spread (the difference between the buy and sell prices on the exchanges) does apply, this is charged by the exchange itself and is a feature of every broker. TR has no influence over this amount. This makes the broker one of the most affordable and transparent players on the German market.
- The app’s design, pricing, selection and additional information are simple and clear, making it ideal for newcomers. This makes Trade Republic a strong contender for the best investment account for beginners.
- The range of shares, ETFs and savings plans is solid. Whilst some competitors may offer significantly more, you’ll find all the key derivatives, shares and the best ETFs at Trade Republic. Most investment strategies, such as a 70-30 portfolio, can be easily implemented using these.
- It’s very easy to use thanks to a well-designed app and a straightforward account opening process. Everything is available in German.
- As this is a German broker, you don’t need to worry about tax matters. Tax reports and tax exemption forms are available directly within the app.
Of course, there are also disadvantages:
- TR is notorious for its poor customer service. This is due to the large number of customers the company has acquired in a very short space of time. The broker’s service centre is completely overwhelmed by the volume of emails it has to deal with (telephone support is not available). It may therefore take several days to receive a response if you have any problems or queries.
- Advanced traders will find that some features are missing. These include, in particular, order types such as the important trailing stop-loss order, which you won’t find here. Charting functions are also non-existent, meaning that serious traders will have to turn to providers such as Freedom24.
- The range of products is limited. Options, futures and forex trading are not available at all. The number of shares and ETFs is capped at 8,500 and 2,200 respectively. If, for safety reasons, you wish to diversify your portfolio further and invest in Asia, South America or Oceania, for example, this is not the right place for you.
- There is only one trading platform available: the Lang&Schwarz Exchange. This exchange boasts very long trading hours, but does not always offer the best spreads. This is because many securities are rarely traded here, meaning costs can rise quickly.
Opening a Trade Republic account: a step-by-step guide
Fancy giving investing a go? Then it’s time to open an account with Trade Republic! Fortunately, the process is very straightforward and only takes a few minutes. However, you’ll often need to be patient afterwards, as the broker may take some time to process all the paperwork.
To open an account, you must meet the following requirements:
- You must be a resident of one of the following countries: Austria, Belgium, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Portugal, Slovakia, Slovenia or Spain, and you must also pay tax in that country.
- Depending on where you live, proof of address (such as an electricity or water bill) may be required.
- A mobile phone number from an EU country (any EU country is acceptable for the phone number, not just those listed above as countries of residence)
- You will need a valid passport or identity card.
- Minimum age: 18.
- A smartphone is required to open a trading account. You can also trade later via your desktop browser, but you’ll need a mobile phone to sign up.
- You must have a bank account.
You can only open a trading account via the Trade Republic app on your smartphone. Simply click on this link and you’ll be taken to the provider’s homepage. In the top right-hand corner, you’ll find the option ‘Get the app’. Once you’ve downloaded it, you’ll need to follow these steps:
- First, the app asks for your mobile number. Once you’ve entered it, you’ll be sent an SMS code, which you’ll need to enter in the app to confirm.
- You will then need to enter your personal details. Your surname, first name, email address, date and place of birth, and nationality are required. For tax purposes, you must also confirm that you are not a US citizen.
- Your details will be verified in the next step. To do this, you will need to complete a video identification process using your smartphone. With some providers in my broker comparison, this is done automatically via the app; however, TR uses a service provider for account opening, which requires you to make a video call with a customer service representative.
During the call, a selfie of you will be taken and your ID document scanned. So please have your passport or ID card ready (whichever you specified during registration).
My tip: During the verification process, your smartphone’s front and rear cameras will be used. So it’s best to remove anything from the frame that you don’t want the staff member on the other end to see before you start the video call …
At the end of the call, you’ll receive a verification code via text message, which you’ll need to enter into a field in the app. That completes the process – the broker now knows that you really are the person you claim to be. The whole process takes less than five minutes.
- Next, you need to provide details of your reference account (the account you hold with another bank, which you will use to make deposits into and withdrawals from your Trade Republic account). This must be a genuine account held in your name with another bank; however, you can change it later once your securities account has been successfully opened.
- Now you need to state your experience of the financial markets. Don’t worry if you haven’t had any experience with investment products yet: your answer won’t have any negative consequences. If you state that you have no experience, TR will simply inform you about the specific features and risks of the asset before you make your first investment. This extra support is one of the reasons why, in my view, this broker offers one of the best brokerage accounts for beginners.
Interesting fact: The US is the only industrialised nation that levies income tax on the worldwide income of its citizens. All other countries only tax profits generated within their own borders. As this can cause significant difficulties, TR and most other brokers categorically refuse to accept US citizens as clients. From a tax perspective, moving to Cyprus is therefore a much more attractive option!
How long does it take to open a Trade Republic securities account?
If you’re thinking of starting to invest and have perhaps even already set your sights on ETFs or shares, you’re probably raring to get started. Unfortunately, just like with all other brokers, it takes a while to open an account.
It doesn’t take long to set up an account, and the identity verification process is completed in just a few minutes. However, TR will first send one cent to your reference account with a code in the reference field, which you must enter in the app. This is to ensure that you have provided the correct account details. Depending on your bank’s processing times, this may take a few working days.
Further delays may occur if the broker wants to verify your address using additional documents. In this case, you will need to provide proof such as an electricity bill, water bill or bank statement. Once you have found a suitable document and photographed or scanned it, the details will need to be verified. This process can also take anywhere from a few minutes to several hours.
A third reason for delays is the deposit. Once you’ve completed your registration, you’ll need to transfer funds into your new investment account before you can invest in shares and other securities or benefit from Trade Republic’s interest. This process may also take some time. However, if you send your money from a German bank, it should usually arrive within a few seconds or, at most, one working day.
In my own experience with Trade Republic, the whole process of opening an account and making a deposit was completed in a single day. However, some customers have reported waiting times of over a week, so it’s best to allow a little extra time.
Good to know:
The broker has attracted so many new customers in recent months that it no longer needs to spend money on expensive advertising campaigns. Unfortunately, this means that the popular Trade Republic sign-up bonus of €15 has been discontinued.
What you should know before signing up to Trade Republic
The services offered by this Berlin-based company are very attractive: no account management fees, low transaction costs, a free current account, good interest rates on your capital … it’s not hard to see why the broker has managed to attract so many new customers!
But perhaps you’ve already wondered how such favourable terms are even possible? The answer is: rebates! Neo-brokers such as Scalable Capital or Trade Republic work very closely with individual trading venues. For every order a broker sends to these exchanges, they receive a small bonus payment.
TR itself states that this amount ranges from €3.00 to €17.60 – depending on the size of the order. From the customer’s point of view, there is nothing wrong with this practice: the bonus payment is a private arrangement between the stock exchange and the broker and is not accessible to investors. We therefore do not lose any money as a result of this behind-the-scenes arrangement.
On the contrary: the agreement allows us to trade on very favourable terms, thereby helping us to save money! However, there are also those who oppose it: although studies and analyses by various authorities have repeatedly shown that this fee model does not result in worse spreads for users, a ban has been imposed.
Within the EU, these ‘payment for order flow’ payments will no longer be permitted from 1 June 2026. Neobrokers, whose entire business model is based on these payments, now face significant challenges. They will have to raise their prices and lose the competitive edge over established banks that made them so successful in the first place.
Alternatively, companies could find other sources of income. At least, that seems to be TR’s plan: the Berlin-based company announced in a press release that, despite the EU ban, it intends to maintain its favourable terms in future.
The abolition of payment for order flow shouldn’t stop you from opening an account with Trade Republic. After all, should the provider’s prices change and no longer be attractive, you can close your account at any time and transfer your investments to another broker.
As you also don’t pay any account management fees, the overall risk is very low. You should be aware, however, that there could be major changes in the brokerage market in the future.
Conclusion: Trade Republic makes opening a securities account incredibly easy
With over 2.5 million German customers, Trade Republic is the most popular neobroker in Germany. This success is down to its competitive terms: trades cost just €1 each, savings plans are completely free, and there are no custody fees.
Despite a few minor drawbacks (the product range could be a little wider and customer service a little faster), this is a very attractive offer. Opening an account is particularly worthwhile for newcomers and private investors looking to build their wealth over the long term.
To open an account, all you need is a form of ID, a bank account and a smartphone with a European mobile number. Anyone residing in one of the many EU countries where TR offers its services can sign up. Your identity will be verified via a video call during the sign-up process.
The initial steps can be completed in just a few minutes; however, verifying your bank account can take several working days in the worst-case scenario. Opening a securities account usually takes just one day, but you should allow a little extra time to be on the safe side.
FAQ – Frequently asked questions:
