Daily and fixed deposit accounts are as good as dead at the moment. But there is a sensible substitute: securities accounts. However, choosing the right product is a little more challenging than the first – and a very individual decision.
If you want to buy stocks, funds, bonds or bonds, you can’t just get started. Before doing this, he has to set up a custody account with a bank or register with an online broker. But the field of providers is large – and not every offer is equally attractive for everyone.
Basically, the following applies: In the case of securities accounts, a distinction must be made between so-called custody account costs and order fees. Deposit costs can best be compared with flat-rate account management fees. They accrue in any case (or not) – regardless of how active a customer is on the capital market.
Order costs, on the other hand, are always due when the bank or broker buys, sells or holds securities. The prices for this service can vary significantly depending on the provider.
A tailor-made offer is required
The FMH-Finanzberatung has therefore determined which costs can be incurred for different purchase orders, which are the best offers – and how the front runners differ. The Frankfurt experts took into account different designs in their research.
For example, banks and direct banks often offer discounts on purchase and sales fees if a customer is very active, i.e. one of the so-called frequent traders. Online brokers, which are very inexpensive anyway, usually save themselves such offers. In return, they are increasingly offering crypto investments. The vast majority of banks and direct banks, on the other hand, have not yet jumped on this bandwagon.
The assessment also included the amount from which a provider charges negative interest if a saver leaves larger amounts in their custody account instead of investing them directly in new paper. It was also taken into account whether the market participants only allow individual purchases or whether there is also the option of investing in the popular ETF savings plans or share savings plans with a monthly fixed amount.
Don’t compare apples with oranges
Savers who are making their first steps in the capital market probably place more value on support than customers who have been investing in securities for years. That is why the Frankfurt experts have shown the online brokers separately from the banks and direct banks in their analysis, thus taking into account the individual needs of different customers.
In the case of small purchase orders, the discrepancy between the offers is small. With larger single premiums of 50,000 euros or more, the differences in terms of order fees are definitely noticeable – and could cause one or the other customer to think about how much good advice is worth to them.
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The question remains about the placements. When it comes to online brokers, there are several providers at the top: finanzen.net I zero; Trade Republic, Scalable Capital and Smartbroker. In the case of banks, on the other hand, there are only two providers who scored “very good”. Namely DB / maxblue and DBK Deutsche Kreditbank, before ING and Consorsbank.