flatexDEGIRO sets new price and transparency standards in German crypto trading

flatexDEGIRO sets new price and transparency standards in German crypto trading

• Total costs of just 0.6 % of the order value for liquid cryptocurrencies - even for large orders
• First broker with full cost transparency for order fees and spreads
• Attractive trading model with reference prices from several liquid markets
• Successive expansion of the offering to include staking and savings plans expected
• Oliver Behrens: We want to create the leading crypto offering for our customers in Germany

The online broker flatexDEGIRO launched trading in 20 cryptocurrencies on Monday, setting new standards in terms of total costs and price transparency. The total trading cost for customers amounts to 0.6 % of the order value, 0.7 % for less liquid cryptocurrencies. These costs include the so-called spread and an order fee of 0.5 % of the order value. flatexDEGIRO is thus adding another attractive asset class to its broad product portfolio and is anticipating great trading interest.

Oliver Behrens, CEO of flatexDEGIRO, said: “Cryptocurrencies complement our broad product portfolio with a relevant asset class. With fair market reference prices, tight spreads and low order fees, we want to create the leading crypto offering for our customers in Germany.”

The new products, including the largest cryptocurrencies Bitcoin and Ethereum, are initially available to German customers on the flatex and ViTrade brokerage platforms. Customers who register for crypto trading on the waiting list will now be successively activated. Further markets to follow next year are Austria and - with the product launch on DEGIRO - the Netherlands as well as the Group's most important European growth markets. In the future flatexDEGIRO plans to introduce further products and features, such as staking and crypto savings plans.

Convincing price quality in trading

The crypto trading offered by flatexDEGIRO works according to a special trading model that guarantees fair market reference prices and tight spreads, even for large orders. This ensures low and predictable implicit costs. Here, flatexDEGIRO works together with the securities trading bank tradias, while
Tangany takes care of custody. Both partners are supervised by the Federal Financial Supervisory Authority (BaFin).

tradias determines the reference price for each cryptocurrency on an ongoing basis as an average value from several liquid trading venues. The spreads differ slightly for liquid and less liquid cryptocurrencies, but in both cases the tight spreads are ensured for order sizes well into the five-digit euro range and therefore for the usual order sizes of retail investors. Customers can generally trade around the clock, 7 days a week from an order size of 1 euro.

Low trading fees with highest transparency standards

flatexDEGIRO charges an order fee of 0.5 % for trading cryptocurrencies. With the separation between spread and order fee, flatexDEGIRO already anticipates the requirements of the new EU regulation for the crypto market, MiCAR. The order fee and spread result in total costs for a buy or sell order of 0.6 % of the order value for liquid cryptocurrencies and 0.7 % for less liquid cryptocurrencies. For an order of 100 euros, this amounts to 60 cents and 70 cents respectively. In addition, customers do not incur any costs for account management and custody. Likewise, flatexDEGIRO does not charge any third-party fees or minimum quantity surcharges.

This means that flatexDEGIRO offers its customers favorable conditions for trading in cryptocurrencies. This is confirmed by a total cost comparison, in which flatexDEGIRO has incorporated available market data and test purchases. The comparison included, among others, neobrokers such as Smartbroker+ and Trade Republic, but also pure crypto providers such as Bitpanda. In the future, flatexDEGIRO plans to conduct such analyses on a regular basis, thus providing investors with greater price transparency.

Moritz Karge, Co-Head Brokerage at flatexDEGIRO and responsible for the trading launch of cryptocurrencies in Germany, said: “A cost comparison must include the spreads - if you only look at order fees, you pour money down the drain. Our test purchases show: While the shown order fees are negligible for some providers, the spreads result in total costs of usually several percent. Our offering provides maximum transparency and already anticipates the requirements of new EU regulations.”

Martin Kreitmair, CEO at Tangany, adds: “We are delighted to be working with flatexDEGIRO to provide their customers with secure and reliable custody of their digital assets in Germany. This partnership underlines Tangany's ambition to provide innovative solutions for the crypto market and to be an active partner in setting new standards for cryptocurrency trading in Europe.”

Christopher Beck, founder of tradias, says: “We are extremely proud that such a renowned and important partner as flatex has placed its trust in us and is joining us on this journey. As exclusive liquidity provider for flatex, we are now enabling their customers to access cryptocurrency trading in a fully regulated environment. This partnership once again underscores our strength and reliability in the digital asset market.”

Contact for the media:

Achim Schreck    Phone +49 (0) 69 450001 1700 
Head of IR & Corporate Communications  achim.schreck@flatexdegiro.com

Laura Hecker      Phone +49 (0) 160 3064 404 
Director Investor Relations    laura.hecker@flatexdegiro.com

flatexDEGIRO AG (www.flatexdegiro.com)

flatexDEGIRO AG is one of the leading and fastest growing online brokers in Europe and offers its services in 16 countries. The company most recently held assets of 70 billion euros in over 3 million customer accounts and processed an average of more than 60 million securities transactions per year for its customers in recent years.

Via the flatex and DEGIRO brokerage platforms, retail investors trade cost-effectively on around 50 stock exchanges in Europe, North America and the Asia-Pacific region as well as in over-the-counter direct trading. With its offering, flatexDEGIRO targets active and well-informed investors and traders who trade without investment advice. With ViTrade, flatexDEGIRO also serves particularly active traders.

Brokerage and the banking business associated with securities trading are handled by the subsidiary flatexDEGIRO Bank AG, which has a full banking license. flatexDEGIRO has proprietary technology with very high availability along the entire value chain and thus sets standards in platform and service quality.

Tangany (www.tangany.com)

Tangany GmbH is an innovative and BaFin-regulated fintech company based in Munich. Tangany offers a market-leading B2B solution for the custody of digital assets on blockchain protocols, including cryptocurrencies, tokenized securities and NFTs. Our solution is used by more than 60 institutional clients, including banks, trading platforms, industrial companies and fintechs.

We enable our customers to use blockchain technology easily and reliably by integrating our modern API into existing systems. This white-label solution saves significant development resources, accelerates time-to-market and supports the focus on proprietary products and services. Tangany's crypto custody license also covers regulatory requirements if required.

By continuously evolving our solution, we support the financial industry on its way to making digital assets accessible to everyone.

tradias GmbH (www.tradias.de)

tradias was founded in 2020 to establish regulated crypto trading in Germany and offer institutional investors secure access to digital assets. Today, tradias is one of the leading trading houses in Europe with the business areas OTC crypto trading, tokenization of real-world assets and market making at regulated trading venues and enables the trading of over 150 cryptocurrencies against EUR, USD, CHF and Stablecoins.

Clients include banks, neobrokers, FinTechs, traditional companies, asset managers, family offices and the public sector.