Mobile broker TradeRepublic received a banking license. It therefore wants to offer new products.
Trade Republic has just received a German banking license. The 100% mobile stockbroker announced in a press release this Wednesday, December 6, that this license will allow it to expand its development capabilities into depository and lending activities. Trade Republic intends to offer new products.
Most of our clients are still at the beginning of their financial life. As a full-fledged bank, we will be able to support them for decades to come. Together with our clients, we are trying to build one of the leading financial institutions in Europe, explained Christian Hecker, co-founder of Trade Republic.
Obtaining this license should allow them to accelerate the deployment of solutions expected by savers in France. Coupled with a strong approach to financial education, these new products and services will support us in our mission to support savers in taking control of their personal finances, added Vincent Grard, Country Manager for France.
Mobile securities account
Today, the Trade Republic offer allows you to sign up for a securities account that can be managed entirely from your mobile. The user can choose to invest in more than 10,200 stocks, including more than 600 French stocks, as well as ETFs, cryptocurrencies and government and corporate bonds. It is also possible to invest automatically and regularly with scheduled investment plans.
In addition, uninvested cash bears interest at a rate of 4% per year, within a limit of 50,000 euros and interest paid every month.
These two establishments that now reward money from current accounts