Best stockbroker 2024: Which broker to choose

A stock broker is the main tool through which you can buy securities. With a broker, you can buy and sell your assets, monitor your portfolio, deposit and withdraw funds, and more. In short, an online broker is your preferred intermediary for accessing the financial markets. Therefore, it is very important to choose the one that best suits your investment needs.

Broker situation for 2024

In 2024, competition is higher than ever in the world of online brokers. Each broker claims to offer the best in terms of commissions, trading tools, customer support and security. To find the best broker, you need to learn about the products each broker offers, their trading platforms and mobile apps, as well as fixed and variable commissions. Let's analyze one of the representatives of this niche.

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Trade Republic is a fintech company of German origin, founded in 2015 and originally known as Neon Trading. Based on our experience and comparisons, it is currently the best broker to invest in the stock market in 2024.

It has quickly established itself as a major player in the financial technology sector in Europe. Trade Republic offers a mobile investment platform that allows users to buy stocks, ETFs (Exchange-Traded Funds) and other financial products.

One of Trade Republic's main advantages is its simplified and relatively low fee structure, which makes investing more accessible to a wider audience. By removing the traditional barriers to entry and the complexities of traditional stock market investing, Trade Republic has attracted a new generation of investors and has risen to the top of the pedestal of users' favorite stock brokers.

The platform is designed to be user-friendly, with an intuitive user interface that makes trading less complicated for beginners while offering ample functionality for more experienced investors.

Trade Republic goes beyond a simple online broker and provides a comprehensive solution offering both investment and banking services. At Trade Republic, you can get a payment card and interest on your funds.

The platform also offers 1% cashback on all card payments. This cashback, called Trade Republic Saveback, is automatically credited to the savings plan.

Here are the main pros and cons of the stockbroker we think is the best at the moment:

Strengths

•  Intuitive app;
•  A variety of products: stocks, ETFs, and cryptocurrencies;
•  Simplified and transparent pricing structure;
•  No brokerage commissions for savings plans;
•  Oversight and regulation by a leading regulator.

Cons

•  Interface lacks indicators for trading;
•  Few derivatives available.

Products offered

In terms of investments, Trade Republic offers access to a wide range of financial products: stocks, ETFs, bonds and cryptocurrencies. However, experienced traders won't find CFDs, options or futures contracts here.

Here you can invest in more than 6,500 international stocks in European, American and Asian markets. At Trade Republic, you also have access to a host of international ETFs for positioning in emerging markets, energy and commodities.

To attract new investors, Trade Republic has opened up access to cryptocurrency trading right on its platform. You can now buy Bitcoin, Ethereum and more than 50 other cryptocurrencies. The downside is that it is not possible to withdraw these cryptocurrencies to your cryptocurrency wallet.

Trade Republic stores cryptocurrencies with a regulated custodian. As a customer, you are the owner of these assets, but you do not own the keys to the wallet where the cryptocurrencies are stored.

Trade Republic is an affordable platform with several free services, including investing in stocks and ETFs as part of savings plans.

In addition to the savings plans where you can take advantage of the free brokerage, the commission per order is €1 regardless of the transaction amount. The broker strives to be simple and transparent and offers a detailed price list. Its pricing policy makes it one of the best online brokers in terms of commission fees.

Why choose Trade Republic

For investors who want to invest less than the price of their chosen stocks, Trade Republic allows you to buy fractional shares or ETFs. For example, you can invest €200 in L'Oréal shares even though their price is much higher.

Trade Republic offers savings plans that allow you to invest a fixed amount per month in ETFs. There are no trading fees involved. This is an attractive service for investors who want to top up their investments regularly and inexpensively.

Benefits

At Trade Republic, your money earns 4% per annum (up to a limit of €50,000). This is a significant advantage over other online brokers. Another big advantage of Trade Republic is simplicity.

The broker is strongly mobile-oriented and has a user-friendly app not unlike its American competitor Robinhood: a basic chart showing portfolio trends and simple, intuitive order placement.