Flatex [2021 Review]: A German Online Broker

June 19, 2021
Brokers
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Flatex is a German broker that offers a wide variety of financial assets, stocks, commodities, securities, currency pairs, bonds, CFDs, ETFs and indices. In addition, the broker offers an excellent easy-to-use and intuitive investment platform. Flatex offers an excellent referral program with which you can win 300 EUR and 10 free trades. If you are interested in a German broker that meets high regulatory standards with these characteristics, Flatex can be a good alternative.

Flatex is a broker that has good characteristics in several aspects. However, we strongly believe that Capital.com is the best online trading platform because is one of the easiest and cheapest ways to trade CFDs on equities, commodities, indices, Forex pairs and cryptocurrencies anywhere in the world. Capital.com offers you zero fees on intra-day trading, a lightning-fast web platform and their proprietary Negative Balance Protection. Also, Capital.com gives you the best chance at financial success with a clean, easy-to-use interface.

We analyzed hundreds of data points relevant to the costs, benefits and features of trading with Flatex and scored our findings on a 10-point scale across 10 distinct categories.
 FlatexCapital.com
1 - Fees310
2 - Signup Process910
3 - Minimum Deposit1010
4 - Ease of Use1010
5 - Deposit & Withdrawal Options310
6 - Customer Support610
7 - Asset Classes810
8 - Referral Program81
9 - Demo Account & Educational Resources710
10 - Safety & Regulation1010
TOTAL7491

Flatex is a German broker that was founded in 2006 and is regulated by the Federal Financial Supervisory Authority (BaFin) and offers protection on your funds. Also, Flatex is today one of the leading online brokers in Germany with over 370,000 customers and over 12 million completed transactions.

It is important to note that Flatex is intended only for people whose place of residence or business is in Germany and Austria. But, this situation could change because Flatex is in the process of acquiring Degiro (a Dutch broker founded in 2008) and therefore it is likely that Flatex operations will expand to more countries.

Below you can see the countries in which it is possible to operate with Degiro as a reference of the countries to which Flatex is expanding with the acquisition.

flatex Availability
AustriaFranceItalyPolandSweden
CroatiaGermanyLatviaPortugalSwitzerland
CyprusGhanaLithuaniaRomaniaThe Czech Republic
DenmarkGreeceLuxembourgSlovakiaThe Netherlands
EstoniaHungaryMaltaSloveniaThe United Kingdom
FinlandIrelandNorwaySpain
option

Yes, you can open an account with (broker name) if you live in Afghanistan.


Our #1-rated commission-free broker is Capital.

A Quick Overview of Flatex

Here is a summary of the most important features and benefits this broker has to offer:

 FlatexCapital.com
FEE STRUCTURE
            Zero commision broker?✔️
            Fees and spreadsHIGHLOW
SIGNUP PROCESS1 DAYINSTANT / SAME DAY
MINIMUM INITIAL DEPOSITNO MINIMUMLOW
TRADING PLATFORM
            Website Ease of UseGOODGOOD
            Proprietary web platform✔️
            Proprietary desktop platform✔️
            Proprietary mobile platform✔️
            Third Party
            (Metatrader 4 or 5, CTrader, etc.)
DEPOSIT AND WITHDRAWAL OPTIONS
            Credit/Debit Card✔️
            Bank/Wire Transfer✔️✔️
            e-Wallets/Crypto✔️
CUSTOMER SUPPORTAVERAGE
Few channels
Slow response
STRONG
Multiple channels
Quick response
ASSETS OFFERED
            Offers Stocks✔️✔️
            Offers ForEx currency pairs✔️✔️
            Offers Commodities✔️✔️
            Offers Bonds✔️✔️
            Offers ETFs✔️✔️
            Offers Crypto✔️✔️
REFERRAL PROGRAMGOODPOOR
DEMO ACCOUNT & EDUCATIONAL RESOURCES
            Demo Account✔️
Limited
✔️
Unlimited
            Educational resourcesAVERAGESTRONG
SAFETY & REGULATION
            Regulated by Tier 1 Regulator/s✔️✔️
            Regulated by Other Regulator/sNO✔️
            Fund Protection✔️

Flatex Pros & Cons

Pros

  • Many investment alternatives.
  • There are no fees for depositing or withdrawing funds.
  • Excellent investment platform.
  • It is a regulated broker.
  • The broker is in full expansion due to the acquisition of Degiro.

Cons

  • Fees for trading.
  • Does not offer variety when making deposits and withdrawals.
  • The demo account is limited to 30 days.
  • You have to pay to access the database.

Account Types

Flatex offers a standard trading account with which you can trade financial instruments on your own. It is important to note that the trading account offered by this broker can be opened with different legal figures and they offer the same service and characteristics:

  • Individual account
  • Joint account
  • Corporate account
Here's a breakdown of our 10 scoring categories, each scored out of 10 for a total of 100 points.

#1 Flatex Fees

 FlatexCapital.com
Zero commision broker?NO✔️
Fees and spreadsHIGHLOW
Deposit Fees?NONO
Withdrawal Fees?NONO
Inactivity Fee?NONO

The first thing you should know is that Flatex is not a zero-commission broker, and you must pay a fee each time you make a buy or sale transaction on the investment platform. Also, the value of the transaction will depend on the market in which you are trading. Flatex does not charge any extra fees for inactivity and you will not have to pay fees when making deposits or withdrawals on the investment platform.

Markets Commissions

The trading commission you'll have to pay depends on the market where the asset is traded, as depicted in the following table:

Trading platformPrice per orderTrading times
USA, NYSE Alternext US.from €5.90 plus exchange feesMonday – Friday 3:30 PM – 10:00 PM
USA, NASDAQfrom €5.90 plus exchange feesMonday – Friday 3:30 PM – 10:00 PM
USA, NASDAQ OTCfrom €5.90 plus exchange feesMonday – Friday 3:30 PM – 10:00 PM
Canada, Toronto€5.90 flatMonday – Friday 3:30 PM – 10:00 PM
Belgium, Euronext Brussels€5.90 flatMonday – Friday 9:00 AM – 5:30 PM
Portugal, Euronext Lisbon€5.90 flatMonday – Friday 9:00 AM – 5:30 PM
France, Euronext Paris€5.90 flatMonday – Friday 9:00 AM – 5:30 PM
Netherlands, Euronext Amsterdam€5.90 flatMonday – Friday 9:00 AM – 5:30 PM
Italy, Milan€5.90 flatMonday – Friday 9:00 AM – 5:30 PM
Austria, Vienna€5.90 flat plus exchange feesMonday – Friday 9:00 AM – 5:30 PM
Switzerland, Zurich€15.90 flat plus exchange feesMonday – Friday 9:00 AM – 5:30 PM

Unfortunately, Flatex loses a lot of points in this category because you will have to incur costs each time you trade. Also, take into account that there may be additional surcharges for the exchange rate in the event that you do not manage accounts in euros. Keep in mind that the parity will change depending on when you decide to make a deposit or withdrawals from your account.

If you are looking for a broker that does not charge commissions every time you make a trade, we recommend you to see Capital.com, RoboForex and Plus500.

Flatex Fees Score: 3/10

How We Rank Fees

At Yore Oyster, we rank fees based on both trading and non-trading fees. Non-trading fees make a broker lose points and the commissions and spreads associated with each asset type are built into the score to determine the overall value.

#2 Flatex Signup Process

The signup process is completely online. Although Flatex is aimed at Germany and Austria, the broker may consider special cases for investors of other nationalities. But, you will have to send an email to the broker specifying your particular case and you may have to send some documents by mail.

Later we will dedicate a section to the customer support offered by Flatex. There you will find several alternatives so that you can communicate with the technical staff to present your particular case.

In general terms, the account opening process in Flatex is quick and easy. You only have to provide your personal information such as name, address, phone number, and identity document all online. In some cases, the verification process may include a video meeting.

The broker is well qualified in this category because the account opening process is quick and easy. However, it loses one point because in the case of non-German non-residents the account opening could take longer.

Flatex Signup Process Score: 9/10

How We Rank The Sign Up Process

We rank the sign-up process based on how quick and easy it is to open an account and we base our score on the following criteria:

  • The speed with which the documents can be uploaded.
  • Number of documents required.
  • The time the verification process takes.

The easier an account opening process is without unnecessary checks, and the faster the verification process, the higher the score.

#3 Minimum Initial Deposit

Flatex does not consider the existence of a minimum initial deposit. This factor is very relevant for investors with low capital because they can choose the amount they want to invest without any type of restriction. In this way, retail investors can immediately start a trading career without having to accumulate large sums of capital. For this reason, the broker is very well qualified in this category.

For your reference, in the following table, we show you other minimum deposits required by other brokers:

BrokerMinimum initial deposit
Interactive Investor$0 USD
PaxForex$10 USD
Capital.com$20 USD
Plus500$100 USD

Flatex Minimum Initial Deposit Score: 10/10

How We Rank Minimum Initial Deposit

The formula here is simple, the lower the minimum initial deposit the higher the score. We at Yore Oyster believe that everyone should be able to try out a broker without having to deposit thousands of dollars to get the opportunity to do so.

The Scoring Threshold For Minimum Initial Deposit

If a broker has a requirement for upto $100, the score here is a perfect 10, as most people can afford to invest. However, if a broker charges upto $500, it still scores a healthy 8 because most of our readers believe they can invest $500 to try out a broker's services. However, as the minimum initial deposit requirements rise above $500 most of our readers feel a bit hesitant to try out a broker due to which the score decreases.

#4 Ease of Use

 FlatexCapital.com
Proprietary web platform✔️
Proprietary desktop platform✔️
Proprietary mobile platform✔️
Third Party Platform (Metatrader, CTrader, etc.)
Website Ease Of UseGOODGOOD
Google Play Store Score (/5)4.34.4
Apple App Store Score (/5)4.54.8

Flatex trader 2.0

This investment platform consists of downloadable software that you can install on your computer quickly and easily. The investment platform is friendly and offers you very good features such as:

  • Prices in real-time.
  • News.
  • Chart module with indicators for technical analysis.
  • It is possible to create your own technical indicators and save them.
  • Fundamental data.
  • Direct over-the-counter trading of certificates and warrants.

It is important that you take into account that although it is true that the investment platform is free, it is necessary to buy the data package to have access to all the information within the investment platform. Here are the two plans offered by the broker:

Flatex Basic

  • Price per calendar month: 15 EUR.
  • Allows to display up to 200 symbols simultaneously.
  • 3 months Intraday.
  • 5 years of Daily data.

Flatex Premium

  • Price per calendar month: 39 EUR.
  • Allows to display up to 500 symbols simultaneously.
  • 12 months Intraday.
  • 10 years of Daily data.
Fatex trader 2.0: Investment platform

WebFiliale

Flatex also offers a web version so you can review your investments from any computer with Internet access.

Take into account that although the web version is friendly and allows you to have access to most of the functions than the downloadable version, this version is less powerful and offers fewer customization alternatives.

Flatex App

Flatex also offers a version of its investment platform for smartphones. Note that the mobile app is very friendly and is highly rated by its users on the different download pages. The app has a rating of 4.3/5 in the Google Play Store and 4.5/5 in the Apple App Store.

Flatex app

The investment platform that Flatex offers is really powerful while remaining friendly. It will also allow you to create your own indicators and customization alternatives. For these reasons, Flatex is highly rated in this category.

Flatex Ease of Use Score: 10/10

How We Rank Ease Of Use

Ease of use comprises of the overall user experience provided by a platform. We rank this dimension according to the following criteria:

  • Intuitive Interface Across All Platforms
  • Customizability Options Available To You
  • Advanced Research Tools For Analysis

Having an intuitive interface was ranked as the number one factor by most of our users when considering a broker. The options available for customizing dashboards and statistical analysis were also very important factors according to our audience, so we factored those into the score as well.

#5 Deposit & Withdrawal Options

 FlatexCapital.com
DEPOSIT METHODS
            Credit card deposit✔️
            Debit card deposit✔️
            Deposit by bank transfer✔️✔️
            Deposit from electronic wallets✔️
            Deposit by wire transfer✔️
            Deposit by check
            Deposit by account transfer from another broker
            Deposit with physical stock certificates
            Deposit by bill payment
WITHDRAWAL METHODS
            Withdrawal to credit card✔️
            Withdrawal to debit card✔️
            Withdrawal by bank transfer✔️✔️
            Withdrawal to electronic wallets
            Withdrawal by wire transfer
            Withdrawal by check
            Account transfer to another broker
            Withdrawal in physical stock certificates

Flatex only considers bank transfers for deposit and withdrawal operations in your trading account without fees. Take into account that the investment platform only recognizes the euro as the base currency. But, you can make transfers in other currencies. The exchange rate that is applied to each transfer will depend on the moment in which you make the transfer.

Flatex leaves a lot to be desired in this regard. We have analyzed other brokers that offer many more deposit alternatives such as checks, debit/credit cards and even e-wallets such as Skrill, Neteller or PayPal. By not offering deposit and withdrawal alternatives, Flatex loses quite a few points in this category.

If you are looking for a broker that offers you enough alternatives so that you can fund your trading account, we recommend you to see Capital.com, XM and AxiTrader.

Flatex Deposit & Withdrawal Options Score: 3/10

How We Rank Deposit & Withdrawal Options

Having a lot of deposit & withdrawal options gives you flexibility when it comes to using or accessing your funds. We rank brokers in this dimension according to the total number of options they offer within the following three main categories of deposit and withdrawal methods, since these are the most commonly offered by most brokers:

  • Credit/Debit Cards
  • Bank Transfer & Wire Transfer
  • E-Wallets such as Paypal, Skrill and WebMoney

#6 Customer Support

 FlatexCapital.com
Phone Support✔️
Available more than 100 hours per week
✔️
Available more than 100 hours per week
            Phone number/s+44.20.8089.7893
Email Support✔️
Response time: 24+ Hours
✔️
Average response time: 2-24 Hours
            Email address[email protected][email protected]
Live Chat✔️
Dedicated Account Manager✔️
Supported languages213

Flatex offers a good customer service with which you will get answers to your questions quickly. The phone service is from Monday to Friday, between 8 am and 10 pm. Below we present the alternatives that the broker offers you so that you can communicate with the customer support:

  • Phone: +49 9221 – 7035 898.
  • Email: [email protected]

Unfortunately, Flatex does not offer other communication alternatives such as live chat, and it is only possible to communicate with technical support in German or English. For this reason, the broker loses a couple of points in this category.

Flatex Customer Support Score: 6/10

How We Rank Customer Support

Customer support plays an important role in getting much-needed help. Our criteria take into account the 3 most pivotal factors traders which include:

  • Availability of support via Live chat, phone & email throughout the week and on weekends.
  • Speed & quality of response across channels.
  • Availability of customized support such as a dedicated account manager.

Customer support is very important for most of our readers. Hence, we not only take into account all the platforms that are used to provide support but the quality of the support provided and the consumer feedback.

#7 Asset Classes

 FlatexCapital.com
Stock markets coveredAccess to markets from 3 countries:
✔️ USA
✔️ Canada
✔️ Germany
Access to markets from 6 countries:
✔️ USA
✔️ Canada
✔️ UK
✔️ Germany
✔️ Japan
✔️ Hong Kong
Number of Stocks3,817
Indices20
Forex Pairs166
Commodities40
Bonds
ETFs
Cryptos239

Stocks

Flatex offers you the possibility to trade stocks and also stocks CFDs from international markets such as:

  • United States
  • Canada 
  • Belgium
  • Germany
  • Portugal
  • France
  • Netherlands
  • Italy
  • Austria 
  • Switzerland

Currency Pairs

You can buy 60+ currency pairs.

Gold

At Flatex, it is possible to buy precious metals such as gold, platinum or silver.

Bonds

You can negotiate both government and corporate bonds.

ETFs

You can trade 800+ ETFs on the Flatex investment platform.

Crypto

You can only trade bitcoin on the investment platform. Take into account that this financial instrument is new to the platform and it is possible that in the future Flatex will expand its cryptocurrency offer.

Flatex offers a great variety when building investment portfolios and you can even diversify internationally. But, the broker loses a couple of points because it only offers one cryptocurrency and does not offer you the possibility of investing in Asian markets.

Flatex Asset Classes Score: 8/10

How We Rank Asset Classes

The criteria for ranking asset classes is pretty simple and as follows:

  • Number of asset classes they offer, such as crypto, forex, stocks, ETFs and bonds.
  • The number of options provided within each asset class.

The more asset classes a broker provides, the more the chance to diversify your portfolio so the better the score. Also, the more asset options within each class, the better.

#8 Flatex Referral Program

Flatex offers a referral program with which you can win 150 EUR and 5 free trades. Take into account that your referral will get the same bonus as you. Nevertheless, for you to get the extra money, you must take into account the following considerations:

Considerations To Take Into Account

  • The new customers do not have a personal account in Flatex.
  • The new customer must open an account in Flatex within 2 months of sending the email.
  • The 5 free trades for the new customer will be valid for 1 month as of the opening of the account.
  • The 5 free trades for you, as the recruiter, will be valid for 3 months as of the execution of the first order by the referred new customer.
  • To receive €150 on your cash account, the first 150 orders of the new customer must be executed within 3 months after the account opening.
Referral Program

Flatex offers you a referral program with which you can earn extra money and get free trades. But, to access the bonus, it is necessary that your referral meets several conditions in a certain time period that does not depend on you and it is possible that you will not get the bonus. For this reason, the broker loses two points in this category.

Flatex Referral Program Score: 8/10

How We Rank Referral Programs

Referral bonuses are the perfect way to make a little extra on the side to invest in the platform, so, obviously, the more rewards a broker gives the higher the score for this dimension. Additionally, we also take into account how difficult it is to attain these rewards.

#9 Demo Account & Educational Resources

 FlatexCapital.com
Demo Account✔️✔️
            Time limitYesUnlimited
            Initial Balance (fake money)$20,000
Educational ResourcesAverageStrong
            Seminars / Webinars✔️
            Educational Articles✔️
            Platform / Trading Tutorials✔️
            Online Courses✔️

Flatex Demo Account

Flatex offers a free demo account. But, you must consider that the demo account is limited to 30 days. Aside from that unpleasant fact, it's worthy of note that the demo account will offer you the same features that the investment platform offers when you invest with real money.

Flatex Educational Resources

The educational content offered by the broker is very useful. Flatex offers several alternatives for you to be informed and constantly learning about investment strategies and the stock market in general. You can access the following content sources:

  • Online seminars
  • Market update
  • Expert talk
  • Ebook training
  • Training Viddeos
  • Webinars
  • Newsletters

Although Flatex offers content for you to be constantly learning, the broker loses 3 points in this category because you can only use the demo account for 30 days. Take into account that this factor is really relevant because a demo account will allow you to test your strategies in parallel without assuming financial risks.

If you are looking for a broker that offers you unlimited demo accounts we can recommend Capital.com

Flatex Demo Account & Educational Resources Score: 7/10

How We Rank Demo Account & Educational Resources

The purpose of a demo account and educational resources is to train users to make informed decisions. Our crtiteria marks every broker on the quality of training that they provide beginners with. Our criteria is as follows.

  • The demo account should not have a time limit or a paper trading limit to get a perfect score
  • Educational Resources should include tutorials, webinars and online courses to ensure that anyone new to trading can quickly learn and trade profitably

#10 Safety & Regulation

 Flatex
Regulated Broker✔️
            Tier 1 Regulators✔️
Regulated by the BaFin
            Tier 2 Regulator LiscenceNO
            Other LiscensesNO
Fund protecionNO
            CoverageN/A

Flatex is regulated by the Federal Financial Supervisory Authority (BaFin). In addition, the broker offers fund protection of 22,000 EUR for securities and 110,000 EUR for cash. This makes Flatex a reliable broker and also, it transmits security because it has been in the market for more than 14 years. In this way, Flatex is very well qualified in this category.

Flatex Safety & Regulation Score: 10/10

How We Rank Safety & Regulation

The score depends on the number and quality of regulators that oversee the broker. If a broker is regulated by a tier-1 regulator like the Financial Conduct Authority of the UK (FCA), the Securities Exchange Commission of the US (SEC), or the Australia Securities & Investments Commission (ASIC), it scores a perfect 10. However, if it is regulated only by tier-2 regulators like the Cyprus Securities & Exchange Commission (CySEC) it scores an 8. The score for most brokers regulated by tier-3 regulators is a 6.

While researching 100+ of the world's top brokers, we’ve noticed what works and what doesn’t from the customer's point of view. That’s why our final test for any broker is to compare it to Capital, which scores 91/100 points across the 10 categories mentioned in this review, and is our top-rated broker for 2021.

Flatex vs. Capital.com

Being a winning trader requires a solid investment plan. Take into account that the stock market is a world that is constantly changing and for this reason your strategies must adapt to the movements and innovations of the market. We recommend that you choose a broker that is your ally and that allows you to fully exploit your profits.

In this sense, this broker must allow you to diversify your portfolio internationally with the range of financial instruments that it offers while also saving you hundreds of dollars in commissions. In this section, you will find a comparison between Flatex and Capital.com. After an in-depth market study, we consider that your best ally is Capital.com for the following reasons:

It has the best fees

Capital.com doesn’t charge any fees on any asset that you trade: stocks, commodities, cryptocurrency, indices, forex, ETFs, or anything else. It doesn’t charge monthly or annual fees, inactivity fees, or deposit or withdrawal fees, either. It also offers tight spreads on trades, unlike other zero-fee brokers, who make their money on wide spreads. Capital.com only makes money on the overnight fees on leveraged trades, so if you trade without leverage, you’ll never pay any fees.

76.25% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Far better withdrawal options

Flatex does not offer many deposit and withdrawal options so you should take this aspect into account when making your decision. In contrast, we can affirm that Capital.com is a better choice because you will have a greater number of withdrawal options. In Capital.com you can use a credit card, bank transfer, debit card, SOFORT, iDeal, Giropay, Multibanko, Przelewy24, QIWI, Webmoney, Trustly, Neteller and Skrill. And remember, you’re never charged a fee to deposit or withdraw money with Capital.com.

The Best Investment options

Flatex has a good number of financial instruments that you can invest in. However, Capital.com offers you several possibilities because on its investment platform you will be able to access a greater number of financial instruments. This feature is really important because with Capital.com you will be able to have a greater capacity for diversification when building your investment portfolios.

76.25% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Flatex In Summary

  • Flatex is a German broker that was founded in 2006 and is regulated by the Federal Financial Supervisory Authority (BaFin).
  • In Flatex you must pay a fee each time you make a buy or sale transaction on the investment platform.
  • The signup process is completely online.
  • Flatex does not consider the existence of a minimum initial deposit.
  • The investment platform that Flatex offers is really powerful while remaining friendly.
  • Flatex offers a free demo account. But, you must consider that the demo account is limited to 30 days.

If you are interested in a German broker that is listed on the stock exchange, Flatex may be a good alternative because it is also in full growth and thus transmits confidence.

However, it is our commitment to let you know that Capital.com is the broker that has obtained the highest score of 91/100 in our search for the best broker. For this reason, we recommend Capital.com not only as a broker but as an ally that will make you feel safe and comfortable so that you can focus only on increasing your profits.

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