How to Choose the Best Neobroker for Your Investments
Video: Bester Neobroker 2026? Trade Republic vs Scalable vs Trading 212 (+ zero & Smartbroker+)
· based on the channel Geldaura
Key takeaways
- Trade Republic, Scalable Capital, Trading 212, finanzen.net zero, and Smartbroker+ are top neobrokers in 2026.
- PFOF ban in July 2026 has changed fees, trading venues, and interest rates significantly.
- Order fees vary by order size, with some brokers charging no small order surcharges.
- Scalable offers the most ETF savings plans including Saveback and Pie features.
- Interest rates on cash balances differ and depend on where the money is held.
Choosing the best neobroker depends on your trading style, order size, and investment goals. In 2026, Trade Republic, Scalable Capital, Trading 212, finanzen.net zero, and Smartbroker+ are leading platforms, each with unique strengths and fee structures. Since the introduction of the Payment for Order Flow (PFOF) ban in July 2026, significant shifts have occurred in broker fees, available trading venues, and interest rates on cash holdings. For a detailed comparison and registration bonuses, visit the best online brokers 2026 comparison.
Understanding Order Fees and Small Order Surcharges
Order fees are crucial when selecting a neobroker. The cost of executing a 200-euro or 1,000-euro order varies across platforms. Trade Republic is known for its low flat fees, often charging around 1 euro per trade. Scalable Capital offers a scalable fee model with options for free or subscription-based trading. Trading 212 generally provides commission-free trading with some exceptions. Finanzen.net zero sometimes applies small order surcharges, whereas Smartbroker+ tends to waive these fees entirely.
ETF Savings Plans and Innovative Features
ETF savings plans are essential for long-term investors aiming to build wealth gradually. Scalable Capital leads with the highest number of ETF savings plans, including innovative features like Saveback, which offers cashback incentives, and Pie investing, allowing portfolio diversification with a single order. Trade Republic also provides a broad selection of savings plans but with fewer extras. Finanzen.net zero and Smartbroker+ offer competitive ETF plans but with varying coverage and flexibility.
Interest Rates on Cash Balances
Post-PFOF ban, brokers have adjusted interest rates on cash deposits. Some brokers offer attractive interest rates, but conditions vary depending on where the cash is held (e.g., segregated accounts or partner banks). Scalable Capital and Trading 212 provide relatively higher interest yields, incentivizing clients to keep funds within their platforms. Trade Republic and Smartbroker+ offer more conservative rates, focusing on security and liquidity.
Trading Venues and Effects of the PFOF Ban
The PFOF ban has reshaped trading venues, affecting execution quality and prices. Brokers now route orders primarily through regulated exchanges such as Xetra, ensuring transparent pricing but sometimes resulting in slightly higher fees. Trade Republic and Scalable Capital have adapted by expanding trading venues while maintaining competitive pricing. Trading 212 and finanzen.net zero focus on direct market access with limited venue options. Understanding these changes is vital for investors prioritizing execution quality.
Cryptocurrency Offerings
For investors interested in cryptocurrencies, not all neobrokers offer direct crypto trading. Trading 212 and Scalable Capital provide access to real cryptocurrencies, whereas Trade Republic and Smartbroker+ offer crypto-related products or limited crypto trading options. Fees, security, and wallet integration differ significantly, so crypto investors should evaluate these factors carefully.
Profile-Based Recommendations
Selecting the best neobroker should align with your investor profile:
- Beginner Investors: Trade Republic offers simplicity and low fees.
- Active Traders: Scalable Capital’s flexible fee model and broad ETF options suit active portfolios.
- Small Orders & Sparers: Smartbroker+ avoids small order fees and has a diverse ETF plan selection.
- Crypto Enthusiasts: Trading 212 provides real crypto trading.
Typical Questions and Concerns
Investors frequently ask about hidden fees, tax handling, and security. All five brokers comply with German regulations and provide proper tax documentation. Some users wonder about small order fees; generally, Smartbroker+ and Trade Republic minimize these. Others ask about interest on cash balances — the best rates depend on broker-specific conditions. Finally, the impact of the PFOF ban has improved transparency but sometimes slightly increased costs.
Useful Links
Conclusion
Choosing the best neobroker depends on your individual investment approach and priorities. Trade Republic excels in cost efficiency for beginners, Scalable Capital leads in ETF variety and features, while Trading 212 stands out for cryptocurrency access. The PFOF ban has shifted market dynamics, emphasizing transparent pricing and changing fee structures. For detailed, up-to-date comparisons, visit Geldaura’s comprehensive broker tests. Their independent analysis helps investors make informed decisions and find the broker that fits their trading and saving needs best.
Source: Bester Neobroker 2026? Trade Republic vs Scalable vs Trading 212 (+ zero & Smartbroker+) · Markdown version
Questions & answers
What impact did the PFOF ban have on neobroker fees and trading venues?
The Payment for Order Flow (PFOF) ban led to increased transparency in trade execution, forcing brokers to route orders through regulated exchanges like Xetra. This change sometimes resulted in slightly higher fees but improved pricing fairness and market quality.
Which neobroker is best for small order investors who want to avoid extra fees?
Smartbroker+ and Trade Republic generally avoid small order surcharges, making them suitable for investors placing frequent small trades or savings plan investments without incurring additional costs.
Do all these neobrokers offer cryptocurrency trading?
No, only some offer direct cryptocurrency trading. Trading 212 and Scalable Capital provide access to real cryptocurrencies, while Trade Republic and Smartbroker+ offer limited crypto products or none at all.
How do interest rates on cash balances differ among these neobrokers?
Interest rates vary depending on where brokers hold client cash deposits. Scalable Capital and Trading 212 tend to offer higher interest rates, whereas Trade Republic and Smartbroker+ provide lower but more conservative yields. Conditions and availability also depend on partner banks and account structures.