Mobile broker TradeRepublic has obtained a banking license. He therefore wishes to offer new products.
Trade Republic has just obtained a German banking license. The 100% mobile stock broker announced in a press release this Wednesday, December 6 that this license would allow it to expand its development possibilities to deposit and credit activities. Trade Republic intends to offer new products.
Most of our clients are still at the beginning of their financial lives. As a full-fledged bank, we will be able to support them for the coming decades. Together with our clients, we strive 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 the solutions expected by savers in France. Coupled with a strong financial education approach, these new products and services will support us in our mission to support savers in taking charge of their personal finances, added Vincent Grard, country manager for France.
A securities account on mobile
Today, Trade Republic’s offer allows you to subscribe to a securities account that can be managed entirely via your mobile. The user has the choice of investing in more than 10,200 stocks, including more than 600 French stocks, and ETFs, cryptocurrencies and government and corporate bonds. It is also possible to invest automatically and regularly with scheduled investment plans.
Moreover, uninvested cash is remunerated at a rate of 4% per year, within the limit of 50,000 euros and interest paid each month.
These two establishments which now remunerate money from current accounts