Flatex buys Degiro

Investing / Brokers
1

I know several people here have an account with Degiro. They have just been purchased by Frankfurt-based Flatex. From the press release, this will likely lead to more trading options for Degiro clients because Flatex has a German banking license. Combined 850000 clients. Flatex’s stock is up about 20% on the news. Not too sure what this really means for Degiro account-holders long-term…

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2

I don’t have any information to add, but interested to see how this evolves

3

Flatex will introduce custody/account keeping fees of 0.1% plus tax p.a. in 2020 in Germany. While their Dutch offering still seems to be free (commission-free trading without custody fees).

4

I just got the confirmation that the acquisition by Flatex AG has been finalized.
Actually they are stating only the positive points:

  • you get a German Bank account with 100’000 EUR protection
  • no more Monetary Funds to hold liquidity

Actually I’m quite happy with Degiro but let’s wait to see what will happen to the fees!

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5

Does anyone know when the flatex cash account will be integrated for Swiss customers? On the website it still says that it will happen during the 2nd half of 2020.