Widely known in Germany and now serving over 10 million users across 18 European countries, Trade Republic has attracted attention from UK investors thanks to its interest on uninvested cash, modern app, and low commissions.
Want to know if Trade Republic is available in the UK, what its expansion plans look like, and which alternatives British investors have? We have got you covered.
Is Trade Republic available in the UK? 🇬🇧
No, Trade Republic is not available in the UK.
Trade Republic continues to invest in European expansion – it holds a full banking licence from the European Central Bank, granted in December 2023, and operates as Trade Republic Bank GmbH under BaFin and Bundesbank supervision. However, it has announced no plans to enter the UK market.
We attempted to open an account, and the UK appeared among the unsupported countries:
Why the UK specifically? Brexit is the practical obstacle. Before 2021, an EU-licensed firm could passport into the UK automatically; now it requires separate FCA authorisation, which means a distinct application, UK-specific compliance, and local infrastructure. For a firm built around a euro-denominated model, that is a substantial undertaking for a market outside its currency zone.
Where is Trade Republic available? 🌎
Trade Republic currently serves 18 European countries: Austria, Belgium, Croatia, the Czech Republic, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Portugal, Slovakia, Slovenia, Spain, and Sweden.
The company has expanded steadily since 2023, so the list changes – if your country is not shown, it is worth checking directly rather than assuming.
Trade Republic alternatives in the UK
- Trading 212: the closest alternative. New users get a free fractional share
- Interactive Brokers: best for experienced investors
- eToro: best for commission-free investing and social trading
- Capital.com: best for CFDs and spread betting
One factor worth applying across all four: whether the platform offers a Stocks and Shares ISA. An ISA shelters up to £20,000 a year from capital gains and dividend tax entirely, and over any meaningful period that saving will exceed differences in trading commissions. Trading 212 and Interactive Brokers both offer one; eToro provides access through a partnership, while Capital.com does not.
Capital at Risk. Sponsored Link. To get free fractional shares worth up to 100 EUR/GBP, you can open an account with Trading 212 through this link. Terms apply.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of UK retail investor accounts lose money when trading spread bets and CFDs with this provider.
Moving to the UK: what happens to your Trade Republic account?
If you are relocating from Germany or another supported country to the UK, a practical question follows: what happens to your existing Trade Republic holdings? Since Trade Republic is not authorised in the UK, becoming a British tax resident means it can no longer serve you as a retail client.
What you need to know
- Once you become a UK tax resident, Trade Republic may not be able to continue serving you, since it holds no FCA authorisation and cannot passport into the UK post-Brexit;
- Open a UK brokerage account first, before initiating any transfer. Having the receiving account ready avoids a gap during which your holdings sit in limbo;
- Transfer in specie rather than selling. Moving the actual holdings across avoids realising capital gains, which selling would trigger. This is the single most important point – liquidating a portfolio to move it can create a substantial and entirely avoidable tax bill;
- Trade Republic offers an outbound transfer service. Note that in-specie transfers typically take several weeks and your holdings may be unavailable to trade during the process;
- Check the receiving broker accepts your holdings. Not every UK platform supports every European-listed security, so confirm before starting;
- If you are staying in the UK, a Stocks and Shares ISA offers tax-free growth on up to £20,000 annually. Note that transferred holdings cannot go directly into an ISA – only new contributions can, so this applies to future investing rather than your existing portfolio;
- If you may leave the UK again, weigh the ISA carefully. Its tax advantages are recognised in the UK but generally not by other countries’ tax authorities, so the benefit may not travel with you.
Cross-border tax situations vary considerably. Consider taking professional advice before moving a substantial portfolio between jurisdictions.
Conclusion
Opening a Trade Republic account from the UK is not currently possible. The alternatives above should serve British investors well, though – and in one respect better, since UK platforms offer the ISA and SIPP tax wrappers that Trade Republic could not provide even if it operated here.
Three points worth carrying into your decision:
- ISA availability matters more than commission differences over any meaningful holding period;
- FSCS protection covers UK-regulated brokers up to £85,000, against the €20,000 typical in the EU – a more generous safety net;
- Currency: platforms holding GBP natively avoid conversion costs that recur on every deposit and withdrawal.
Whether you prioritise reputation, low costs, or a straightforward app, the options above are a solid starting point. Explore them and decide for yourself.
If none is a match, browse our comparison of online brokers by country.
Risk disclaimer: when investing, your capital is at risk and you may get back less than you invested. Past performance does not guarantee future results.
FAQs
What is Trade Republic?
Founded in 2015, Trade Republic is an investment app offering stocks, ETFs, bonds, derivatives, and cryptocurrencies, alongside savings plans across those assets. It serves over 10 million clients across 18 European countries.
Trade Republic holds a full banking licence from the European Central Bank, granted in December 2023, and is supervised by BaFin and the Deutsche Bundesbank. Cash deposits are protected up to €100,000 under the German deposit guarantee scheme, while securities are held in custody with an established custodian bank and remain your property regardless of what happens to Trade Republic.
How does Trade Republic make money?
Trade Republic historically earned a substantial share of revenue from payment for order flow, where brokers are paid to route orders to specific market makers – an arrangement that creates a potential conflict between the broker’s interests and the client’s.
The EU has legislated to ban PFOF from 2026, so Trade Republic has been shifting toward other revenue sources:
- Net interest income: as a licensed bank, Trade Republic earns a margin on client cash deposits, passing part of it back as interest. This has become a substantial revenue line;
- Securities lending: lending client holdings to third parties for hedging, arbitrage, or short selling, in exchange for a fee;
- External settlement costs: a €1 charge applies per one-off trade, though savings plans remain free;
- Other services: card products, corporate action processing, and similar.
The banking licence is what makes this transition viable – it allows Trade Republic to earn from deposits in a way a plain broker cannot, which is likely why it pursued full authorisation rather than continuing as an investment firm.
Will Trade Republic come to the UK?
No timeline has been announced. Entering the UK would require separate FCA authorisation, since EU passporting rights ended with Brexit, alongside UK-specific compliance and infrastructure.
Trade Republic’s expansion has focused on eurozone and EU markets, where its existing licence applies. Nothing rules out a UK launch eventually, but there is currently no indication one is planned.
