DeGiro vs. Trade Republic vs. Scalable Capital: Which Neobroker Has the Lowest Costs in 2026

Key Points

• Neobrokers save investors an average of 94.1 percent on orders over 10,000 euros compared to conventional brokers (as of September 2023, justETF).
• Trade Republic charges 1 euro flat fee per order, Scalable Capital offers 0.99 euros per trade in its free model or unlimited free orders from 250 euro volume for 4.99 euros monthly.
• Trade Republic provides over 3,200 free ETF savings plans from 1 euro minimum savings rate, Scalable Capital over 2,400 (as of August 2026, Handelsblatt).
• Scalable Capital pays 2.50 percent p.a. on savings account balances with deposit insurance up to 500,000 euros, Trade Republic 2.25 percent with coverage up to 100,000 euros (as of March 2026, WirtschaftsWoche).
• Trade Republic expanded its offering in 2026 with a free current account and payment card – Scalable Capital focuses exclusively on securities trading.
• DeGiro is no longer listed in current comparisons of German neobrokers – Trade Republic and Scalable Capital dominate the market.

Fee Structure: Neobrokers Undercut Traditional Banks by Up to 94 Percent

The fee gap between neobrokers and conventional online banks remains substantial. An analysis by justETF (as of September 2023) shows that investors pay an average of 23.73 euros with traditional brokers for an order over 10,000 euros, while neobrokers calculate with an average of 1.40 euros. This corresponds to savings of 94.1 percent.

On smaller order volumes, savings are proportionally lower: those investing 1,000 euros pay an average of 8.66 euros with conventional providers and 1.40 euros with neobrokers – a reduction of 83.8 percent. The reason lies in the different fee structures: while established banks charge variable costs based on order volume, neobrokers use fixed, transparent prices.

Trade Republic vs. Scalable Capital: Order Fees in Detail

Trade Republic charges a flat fee of 1 euro per order, regardless of trading volume. Scalable Capital calculates 0.99 euros per trade in its free model. Those wishing to trade on Xetra pay 3.99 euros plus 0.01 percent trading venue fee at Scalable Capital (as of March 2026, WirtschaftsWoche).

For active traders, Scalable Capital offers the Prime+ model: for a monthly fee of 4.99 euros (alternatively yearly billing) order fees are waived for trades from 250 euro volume. Access to Xetra is not included in this model. Those executing more than five trades per month are mathematically better off with Prime+ than with Trade Republic's 1-euro flat fee.

Both brokers charge no depot fees.

ETF Savings Plans: Trade Republic Leads with Over 3,200 Offerings

In the field of ETF savings plans, Trade Republic leads with over 3,200 available plans according to Handelsblatt (as of August 2026), ahead of Scalable Capital, which offers more than 2,400 savings plans. Both neobrokers charge no fees on savings rates and accept minimum savings rates from 1 euro.

For comparison: S Broker provides 2,700 ETF savings plans, Comdirect and Bitpanda each 2,500, Smartbroker+ over 2,500 and Finanzen.net Zero over 2,600 (as of July/August 2026, Handelsblatt).

The selection of savings plans becomes relevant for investors who want to specifically invest in niche ETFs or thematic index funds. For broadly diversified MSCI World or S&P 500 ETFs, both brokers cover the standard range.

Credit Interest: Scalable Capital Pays 2.50 Percent p.a.

Scalable Capital pays interest on uninvested balances on the savings account at 2.50 percent p.a., Trade Republic at 2.25 percent (as of March 2026, WirtschaftsWoche). Both providers had paid higher interest rates of up to 4.00 percent at the beginning of 2026 and have continuously reduced these since then.

A key difference exists in deposit insurance: Trade Republic insures balances up to 100,000 euros or deposits them in money market funds as special assets. Scalable Capital guarantees deposit insurance on the new savings account up to five times 100,000 euros – a maximum of 500,000 euros. For investors with higher cash reserves, Scalable Capital offers a structural advantage.

Banking Functions: Trade Republic Expands Offering with Current Account

Trade Republic introduced a free current account in 2026 that can be used as a salary account. Customers also receive a payment card with favorable conditions according to the company (as of March 2026, WirtschaftsWoche). Scalable Capital offers no banking functions and focuses exclusively on securities trading.

According to justETF, neobrokers typically function as secondary depots since they often do not offer complete banking services such as salary accounts, standing orders or transfers. Traditional online banks like Comdirect, Consorsbank, ING or DKB cover these functions. With the new current account, Trade Republic positions itself as a hybrid provider.

User-Friendliness: Both Brokers Focus on Native Apps

Trade Republic and Scalable Capital developed their platforms primarily for mobile use. Both providers offer native smartphone apps with graphically prepared interfaces and intuitive handling. According to justETF, they rank among the leading neobrokers for user-friendliness. Other neobrokers with mobile apps include justTRADE, finanzen.net zero and Smartbroker+.

Regulatory Changes: PFOF Ban Has No Impact on Costs

Since the beginning of 2026, the EU has prohibited Payment for Order Flow (PFOF) – a model in which brokers receive commissions from market makers for forwarding customer orders. According to nennwert (as of May 2026), customer costs remain "extremely low" despite the ban, as neobrokers have established alternative financing models. Providers did not disclose details about these models.

DeGiro Missing from Current Comparison

Dutch broker DeGiro, which long served as the price leader in the European market, does not appear in the researched comparisons of German neobrokers for 2026. Neither justETF nor WirtschaftsWoche or Handelsblatt list DeGiro in their current overviews. Trade Republic and Scalable Capital dominate the German-speaking market.

Which Broker for Whom?

According to Zendepot (as of March 2026), both providers are suitable for long-term ETF savers through low costs and uncomplicated handling. The choice depends on individual preferences:

Trade Republic suits investors who value a broad ETF selection, trade occasionally, and want banking functions like a current account. The 1-euro flat fee remains calculable.

Scalable Capital targets active traders who benefit from the Prime+ model at more than five trades monthly. The higher deposit insurance of 500,000 euros appeals to investors with larger cash reserves.

Both brokers offer free depot management and ETF savings plans from 1 euro. Differences in order fees (0.99 vs. 1 euro) and credit interest (2.50 vs. 2.25 percent) are marginal.