Trade Republic is an online broking provider that enables trading in derivatives, ETFs and equities. The German website of the provider can be found at the URL

Trade Republic Experience

Trade Republic reviews can help if you are thinking of investing your capital on this online trading platform. If you search Google & Co. for a Trade Republic test, many results are displayed. Most of them lead to blogs or forums where Trade Republic experiences are discussed.

Common topics are a Trade Republic savings plan, the Trade Republic ETF selection or the Trade Republic costs. Basically, it is difficult to judge the truthfulness of the published experiences with Trade Republic.

This is because the articles that can be found online are not always written from a neutral perspective. Biased attitudes, both positive and negative, are not excluded.

Trade Republic Disruption

Trade Republic and its customers are likely to have a nagging memory of 28 January 2021. The Trade Republic app was unavailable for several hours. In this regard, the following message appeared in the app:

“At this time, trading is limited due to technical malfunction of the trading venue.”

For clients who depend on being able to react to price movements at short notice, this was an absolute disaster. After the technical problems were apparently solved, the next bad news for the customers followed. Neobroker stopped buying certain shares at short notice.

This buying ban was limited to shares in GameStop Corp., AMC Entertainment Inc., BlackBerry Limited, Nokia Corp., Express Inc. and Bed Bath & Beyond Inc. and may have caused many customers to miss out on a lucrative deal or suffer losses.

Were you also affected by the technical glitches or subsequent market suspension? Share your experience with other readers in our comments section.

Trade Republic app crash – What claims do customers have?

Whether clients have a claim against Trade Republic for damages due to losses suffered and lost profits depends, of course, on the individual case. From the rulings that have been pronounced so far on the liability of online brokers in the event of technical malfunctions, the following tendencies can be identified:

  1. If the online broker contractually agrees to forward a customer order within seconds, the broker shall be liable if the forwarding fails to take place due to a circumstance for which the broker is responsible.
  2. The claim for damages shall also include the loss of profit, which is attributable to a delayed order execution.
  3. An exclusion of liability for technically or operationally caused temporary access disruptions, regardless of fault, shall be ineffective. Accordingly, online brokers are obliged to take appropriate precautions for the security and operability of their own computers.
  4. Customers are not obliged to make a “cover purchase” at a higher price. Such a cover purchase cannot be expected of customers due to the price fluctuations typical for shares.

Trade Republic – How does the broker react

The law firm Herfurtner has information according to which clients who assert their claims against Trade Republic receive the following e-mail:

“In addition, only damages incurred during the interruption can be reimbursed. If you hold on to existing securities positions clearly over the period of a trading interruption, no refunds can be made for this period.”

With this, the broker expresses that the customers had been obliged to sell their shares immediately after the technical disruption had been remedied. Whether the customers were actually obliged to do so will probably have to be determined by the courts.

“In my view, this wording does not stand up to legal scrutiny in its absoluteness. It depends on the individual case what the individual customer can be expected to do. In any case, the price fluctuations typical for shares must be taken into account. Customers cannot be obliged to sell their shares immediately after the disruption has been remedied and thus forego a possible renewed rise in the share price,” reports lawyer Arthur Wilms.

Trade Republic buying ban – Do customers have claims?

Even in the case of a market suspension or a buying ban for certain shares, claims of affected customers have to be examined on a case-by-case basis. It remains to be seen whether Trade Republic‘s justification that the market suspension was intended to protect customers is sufficient.

Trade Republic has not yet communicated the legal basis for this purchase ban. The online broker’s main obligation under the contract with its clients is to provide a trading platform. Although the Stock Exchange Act provides for the possibility of suspending trading, the management of an exchange is authorised to do so.

However, the unilateral change of a performance promise by one of the contracting parties is not provided for and is foreign to German law. Also, the protection of customers as a reason for the prohibition to buy is likely to be of limited importance. Online trading is in itself a high-risk business.

Customers consciously decide to take these risks. The purchase ban was lifted the following day. An apology followed in an e-mail: “We have lifted this restriction. We expressly apologise for the temporary restriction of your freedom of trade” An apology that will not get customers their money back.

Trade Republic BaFin

In the meantime, BaFin has also addressed the trading disruptions at several brokers. In a notification dated 05 February 2021, BaFin confirms that a large number of complaints have been received in the meantime. The companies concerned were asked to make a statement.

Afterwards, it will be decided whether the companies have violated supervisory law. However, BaFin clarifies that companies must have the necessary infrastructure ready, even if the markets are extraordinarily volatile. The BaFin is also investigating indications of market manipulation.

Get free advice – lawyers inform you about your claims!

“Two different complexes have to be considered. One concerns the technical malfunctions at Trade Republic and the resulting unavailability of the broker. The second complex concerns the buying ban and the subsequent price crash. It requires a case-by-case examination to determine which damage can be attributed to which cause. In both cases, however, the documentation of the (attempted) trading actions of the customers and the associated provability and presentation of the damage are decisive”, reports lawyer Arthur Wilms. Contact us for a free consultation.

Registered office of the company, regulatory status of Trade Republic

It is true that the company’s own website is also used to give the reader a positive impression. However, the interested investor will also find valuable information about the company’s registered office and its regulatory status.

The imprint of the Trade Republic website contains the information that Trade Republic Bank GmbH is based in Düsseldorf, Germany. In addition, the company’s address in Berlin can be found here.

On the provider’s website there is a separate section for customer support. Here you will find a variety of topics from registration to trading to taxes. If you have a question that is not answered here, you can contact the customer service via a form.

Trade Republic is regulated and supervisedin Germany by the Federal Financial Supervisory Authority (BaFin). The provider describes itself as a securities trading bank.

Trade Republic website

On its website, the company focuses on mobile trading. After logging in to Trade Republic, clients can use its own app. In addition, trading is inexpensive, as no commissions are charged for orders and there are also free ETF savings plans. Trade Republic is the first mobile broker in Germany.

Customers benefit from the fact that there are no negative interest rates and no fees for managing a securities account. With the provider, one can choose from over 300 ETF savings plans and trade in almost 8,000 ETFs and shares.

In addition, about 40,000 knockout products, leverage products or warrants are available. The trading hours for ETFs and shares between 7.30 a.m. and 11 p.m. are also emphasised. Trade Republic counts among the advantages of its own offer:

  • Services related to the securities account: automatic tax deduction including annual tax certificate
  • Trading without commission: no commission for shares, ETFs or derivatives, low third-party costs on a flat-rate basis
  • Quality of prices: There is stock exchange monitoring of prices.

With Trade Republic, clients can set up a portfolio that they can take with them wherever they go. The app provides alerts, news and data in real time so that you are always up to date. In addition, the app has a search function and is easy to use.

The advantage of Trade Republic is that it can offer low transaction and administration costs compared to other, classic providers.

Registration and minimum deposit

If you want to start trading on the online platform, you have to register as a client beforehand. After you have set up your account, you have to set up a free settlement account. According to Trade Republic, there is no minimum deposit amount.

According to Trade Republic, deposits and withdrawals can be made by bank transfer. The prerequisite is that you are the account holder yourself so that Trade Republic can check the transactions.

Risk factor online trading

Those interested in online trading should note that this type of investment differs in some details from the classic way via a bank or an investment advisor. Digitalisation has shaken up many industries and led to innovative business models.

Whereas a few years ago it was still obligatory to go to the bank if you wanted to seal a contract for an investment, this can now be done without any problems on the internet. This has led to the fact that there are now a large number of brokers who operate worldwide and vie for the goodwill of investors with their offers.

Mostly, the trading platforms focus on products that are not suitable for everyone because of their complexity and the associated risks. Especially if there are difficulties with the user account, it can quickly become problematic.

And an inadequate assessment of the risks is often coupled with losing trades that often even affect the entire deposit.

Loss potentials with online trading

The law firm Herfurtner Rechtsanwaltsgesellschaft mbH examines the case and finds out which claims, if any, can be asserted against the online trading platform. The lawyers look after your interests and contact the broker directly, regardless of whether the broker is based in Germany or abroad.

To find out what to do in the event of online trading losses, you can claim investor protection and seek an exchange with one of our legal advisors at any time. To arrange an appointment, please choose from one of the options we offer in our contact section.