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  Another bitter pill: flatex raises prices on November 1st | News | Bit Updates
Home » bitcoin updates » Another bitter pill: flatex raises prices on November 1st | News

Another bitter pill: flatex raises prices on November 1st | News

Wednesday, November 1st, 2017 | bitcoin updates

The online broker from Kulmbach is once again turning the price screw. Only in March, flatex had introduced negative interest rates and made headlines nationwide. Since then, the broker calculates penalty interest of 0.4 percent on the credit balance of its customers.

flatex increases order commission

New customers of flatex have to pay EUR 5.90 for trading on XETRA Frankfurt as of November 1, 2017 – plus stock exchange fees. So far, the subsidiary of the Fintech Group had demanded € 5.00 commission from both new and existing customers. That's a price increase of 18 percent. Including exchange fees, as of November 1, there will be a minimum of € 8.14 per XETRA order.

Even existing customers should probably be asked to pay in the future. According to flatex's service hotline, existing customers of the online broker will also have to pay € 5.90 commission commission (plus stock exchange fees) to XETRA Frankfurt as of January 1, 2018. There is no official confirmation of the company yet, the request is running.

These costs will also increase from 1 November at flatex

The transfer of registered shares was previously commission-free. From 1 November, flatex customers must pay 0.60 euros for the purchase of registered shares per exchange order. Flatex also adjusts the costs and additional costs for gold: Customers of the online broker must then pay 0.025 percent per month for XETRA Gold (ISIN: DE000A0S9BG0). Incidentally, the calculation is made quarterly retroactively.

In addition, domestic and foreign orders on stock exchanges in the US and Canada become more expensive. Previously, flatex customers had to pay a commission of € 9.90 for buying and selling. Now, starting with an order value of more than € 25,000, a fee of 0.04 percent will be charged. An example: A stock purchase in the order volume of 50,000 euros previously cost 9.90 euros, now flatex customers have to pay a total of 19.90 euros.

Stiftung Warentest compares custody costs

If you are looking for cheap alternatives, compare the conditions of leading providers in the broker comparison on finanzen.net. Investors can also find a detailed comparison of the custody costs of various banks in issue 12/2016 of Finanztest. The goods testers compared 38 branch and direct banks and found significant differences in custody and order fees.1

In line with this topic:

»The conditions in the brokerage depot of finanzen.net
»Broker comparison: Which online brokers offer convincing conditions?
»Financial test: too high depot costs: saving potential up to 627 euros per year!

1) Source: Finanztest, issue 12/2016, available at https://www.test.de/Wertpapierdepots-im-Test-4864312-0/
Image sources: Flatex

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