BrokAIr Reviews

flatex Review

"Flatex is one of the most innovative online brokerages, but it is still not without its flaws. Is flatex really worth the hype?"

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Flatex: A Comprehensive Overview

Flatex is an online broker, established in Germany and regulated by the German Securities and Exchange Commission (BaFin). It offers a wide range of services to its customers, including but not limited to investments in stocks, ETFs, funds, bonds, and derivatives. Flatex was founded in 2006 by Frank Niehage and Matthias Hock, and currently has over 600,000 customers.

Pros

Flatex has a few advantages that make it stand out from other online brokers. The company offers an extensive range of products, with over 2,000 ETFs and 3,000 stocks available on its platform. Furthermore, it provides an extremely low cost structure with no account maintenance fee and no minimum deposit requirement. Additionally, customers can benefit from the comprehensive range of research tools and educational resources available on the flatex website. Flatex also provides a well-designed mobile app for convenient access to its services.

Cons

Despite its advantages, flatex does have a few drawbacks. The company does not offer any mutual funds or option trading services, which could be seen as a disadvantage for investors looking for more exotic investments. Additionally, the company does not provide any investment advice or guidance for its customers, which could be seen as another disadvantage. Finally, some users have reported slow response times from customer service personnel in certain cases.

Public Opinion

Overall, public opinion of flatex is quite positive. The majority of users report being satisfied with the products and services offered by the company. Additionally, many users have praised the low fees and excellent selection of research tools available on the platform. However, there are some negative reviews as well, mostly related to slow customer service response times or lack of investment advice.

Notable Events

In 2018, Flatex acquired German discount broker ViTrade for €130 million in order to expand its presence in Europe. In 2019, Flatex announced a partnership with Comdirect Bank AG to create a new joint venture called "Flatix Direct AG". This joint venture will combine the services of both companies in order to provide customers with an even wider range of products and services. Additionally, Flatex recently launched a new payment service called "Flatix Pay" to enable customers to pay for goods and services using their Flatex accounts.