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Articles / Firstrade vs Trade Republic: 2023 Comparison

Firstrade vs Trade Republic: 2023 Comparison

Franklin Carneiro da Silva| Updated: February 27, 2023

Are you confused about whether to choose Firstrade vs Trade Republic as a broker for your investing needs?

In this side-by-side comparison, we analyse Firstrade vs Trade Republic to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.

Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!

Ideal for
US investors looking for US options only

Firstrade is a traditional company founded in 1985 that recently changed its strategy to become a commission-free online trading platform for stocks, ETFs and options.

The broker is considered safe, with a long track record that survived a few crises and top-tier regulators’ supervision.

The main drawbacks are its limited products offering (no European ETFs, stocks,…) and the fact that it only offers fractional shares on reinvested dividends.

Trade Republic Logo
Visit Trade RepublicAsset 3
Investing involves risk of loss.
Ideal for
Creating saving plans with stocks/ETFs

Trade Republic is a discount broker based in Berlin, Germany. It focuses on four types of financial assets: stocks, ETFs, cryptocurrencies, and derivatives.

It uses the motto “From the people, for the people” to express its commitment to its customer by selling itself as a “no order fee” platform.

Nonetheless, a €1 external fee is applied in every single trade (Except saving plans), meaning that in practice, you will charge at least €2 (€1 for buying and another €1 for selling).

Pros and Cons

Pros

  • Commission-free stock, ETF, mutual fund and options trading
  • Good research and educational content
  • No inactivity fees
  • No minimum deposit

Cons

  • You can trade only on US markets
  • No 24/7 customer support
  • No demo account
  • No fractional shares

Pros

  • Automatic saving plans
  • Invest from only €1
  • No minimum deposit
  • Direct debit in the share-saving plans
  • Supervised and regulated by a top-tier regulator
  • Interest paid in idle cash balances

Cons

  • €1 flat external fee in every single trade (Except saving plans)
  • No demo account
  • Only one base currency (EUR)
  • No access to US Stock Exchanges
  • Currency conversion fees apply
Firstrade vs Trade Republic: 2023 Comparison 2
Trade Republic Logo
  •  
  • General Information
  • Founded in
  • Demo Account
  • Account Minimum
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks
  • EU stocks
  • ETFs
  • Cryptocurrencies
  • Custody Fee
  • Inactivity Fee
  • Withdrawal Fee
  • Connectivity Fee
  • Currency Conversion Fee
  • Security
  • Regulators
  • Investor Compensation Scheme(per person, per institution)
  • FirstradeAsset 3
  • General Information
  • Founded in1985
  • Demo Account
  • Account Minimum$1
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks$0
  • EU stocksNot Applicable
  • ETFs$0
  • Cryptocurrencies1%**Spread on either side of a crypto trade.
  • Custody Fee$0
  • Inactivity Fee$0
  • Withdrawal Fee0$ for ACH**Wire transfers cost $30-35 (depends on your residency).
  • Connectivity Fee0$
  • Currency Conversion FeeNo available information
  • Security
  • RegulatorsFCA and FINRA.
  • Investor Compensation Scheme(per person, per institution)Up to $500,000 **Including international clients.
  • Trade RepublicAsset 3
    Investing involves risk of loss.
  • General Information
  • Founded in2015
  • Demo Account
  • Account Minimum€/$/£0
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks€/$/£0**+ €1 settlement fee per trade
  • EU stocks€/$/£0**+ €1 settlement fee per trade
  • ETFs€/$/£0**+ €1 settlement fee per trade
  • Cryptocurrencies€/$/£0**+ €1 settlement fee per trade
  • Custody Fee-
  • Inactivity Fee€0
  • Withdrawal Fee€0
  • Connectivity Fee€0
  • Currency Conversion Fee0%
  • Security
  • RegulatorsBaFin
  • Investor Compensation Scheme(per person, per institution)

    Securities: up to €20,000 (from non-returned assets up to 90%)

    Cash balance: up to €100,000

Franklin Carneiro da Silva
Co-Founder & Fintech Analyst

Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.

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