Widely known in Germany, Trade Republic has attracted the attention of several non-german users who are also enthusiastic about their product offering, including interest on uninvested cash of 2.75% (euros), similar to the rate of the “Deposit Facilities” (set by the European Central Bank [ECB]), the rate that banks earn when depositing overnight deposits within the ECB.
In this article, we’ll uncover the countries where Trade Republic is available, the company’s expansion plans, and some alternatives to Trade Republic for investors from unsupported countries! Keen to find out more? Keep on reading. We’ve got you covered!
In which countries is Trade Republic available? 🌎
Trade Republic is available in the following countries:
- Austria
- Belgium
- Estonia
- Finland
- France
- Germany
- Greece
- Ireland
- Italy
- Latvia
- Lithuania
- Luxembourg
- Netherlands
- Portugal
- Slovakia
- Slovenia
- Spain
This means that if you live in Argentina, Australia, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Hungary, Malta, Mexico, Norway, Poland, Romania, Sweden, Switzerland, UAE, UK, Ukraine, and the USA, or any other country, you won’t be able to open an account.
Supported countries: Trade Republic App
Trade Republic Alternatives
Trade Republic is not supported in your country and you’re looking for a suitable alternative? Below, we explore six different brokers that we believe make good alternatives to the Trade Republic app.
- Interactive Brokers: Best broker overall
- eToro: Best for commission-free investing and social trading
- XTB: Best for CFD and Forex trading
- Trading 212: The closest alternative. New users get a free share
- DEGIRO*: Best for low cost investing
- Saxo: Best for professionals
*Disclaimer: Investing involves risk of loss.
Conclusion
If you want to open a Trade Republic account from the UK, Canada, or other unsupported countries, you’re in bad luck: it is not possible. However, we believe any of the above mentioned brokers will be good choices.
Whether you value security and reputation or want a commission-free trading platform, the alternatives presented should be a good starting point. Explore their websites and decide for yourself!
If you haven’t found a match, you can still look at our comparison of online brokers available by country.
Hope you found our breakdown helpful, and please let us know if you have any questions or feedback – we’re happy to help!
FAQs
What is Trade Republic?
Founded in 2015, Trade Republic is an investment app that allows users to invest in Stocks, ETFs, Bonds, Derivatives, and Crypto (+Saving Plans that include all these assets). It has over 4 million clients, which have over 35 billion in assets under management. Trade Republic is regulated by BaFin and Bundesbank. In the case of bankruptcy, up to €100,000 in cash is protected by the deposit guarantee scheme and your shares are held at the HSBC Bank custodian in Germany.
How does Trade Republic make money?
As economists like to say, “There is no such thing as a free lunch”. Trade Republic is still making money through payment for order flow (PFOF), which consists of paying brokerages to route orders to market makers for trade execution, thus creating a potential conflict of interest between the brokerage and the customer. According to the latest update, “Payment-for-order-flow agreements only accounted for about a third of Trade Republic’s overall income” (our bold). Since the EU plans to ban PFOF from 2026 onwards, Trade Republic must adapt and focus on other income sources, namely:
- Securities fending: Your stocks or ETFs are most likely not parked in a single place. Usually, brokerage firms lend your securities in exchange for an interest rate. Third parties borrow securities for several reasons, such as hedging a position, arbitrage an opportunity, creating a structured product, or shorting selling;
- Transaction fees: Trade Republic charges no trading fees (apart from external settlement costs), so this might be an option to increase their revenues in the future;
- Withdrawal fees: For withdrawals below €100, it charges €1;
- Among others: Registration annual meeting, etc.