Trade Republic
Daily interest on your cash balance and access to ETFs and stocks with no high fees
Trade Republic is a regulated European broker that combines a 2% annual interest cash account with access to thousands of stocks, ETFs, and other financial products. Interest is calculated and credited daily, which means your money works from day one without you having to do anything. No maintenance fee, no minimum to open, and the account is set up in under ten minutes from your phone. Regulated by the German BaFin with balances protected up to €100,000.
How to get started step by step
- 1Open your account from your phone. Download the Trade Republic app and complete the registration process. You will need to verify your identity with a photo of your ID or passport and a selfie. The process takes five to ten minutes and your account is active almost immediately.
- 2Add funds via bank transfer. Link your regular bank account and make a transfer. There is no required minimum. The money appears in your Trade Republic account within minutes or hours depending on your bank, and starts earning interest the moment it arrives.
- 3Activate the card if you want it. Trade Republic offers a free debit card with cashback in the form of fractional shares on every purchase. It is optional, but it is a way to accumulate small positions with no extra effort.
- 4Explore investment products at your own pace. The platform gives access to thousands of stocks, ETFs, bonds, and crypto. You can invest from €1. If you decide to explore these products, do so at your own pace and with money you do not need in the short term. Trade Republic does not provide investment advice, and neither do we.
- 5Withdraw whenever you want with no penalty. The money in your cash account is yours and you can transfer it back to your bank whenever you want, with no lock-in periods or penalties. Accrued interest is paid out monthly.
Pros
- ✓Daily interest on your cash balance, credited every month
- ✓No maintenance fee and no minimum to open
- ✓Balance protected up to €100,000 under the European deposit guarantee scheme
- ✓Regulated by BaFin, one of the strictest financial supervisors in Europe
- ✓Free debit card with cashback in fractional shares
Cons
- ✗The interest rate can change depending on ECB decisions
- ✗The app is simple but has fewer advanced features than other brokers
- ✗Customer support is mainly via chat, no phone line
- ✗Some investment products are not available in all countries
Tip to maximize earnings
Trade Republic works very well as a savings account for money you have sitting idle and do not need in the short term. The 2% annual rate is notably higher than what most traditional bank accounts offer. If at some point you decide to explore ETFs or other products, the platform makes it easy — but that is a personal decision you should make with your own research or specialist advice.