Neobroker
An online broker that offers securities trading mainly via an app at very low fees.
In short
As of 5 October 2026A neobroker is an online broker that offers securities trading mainly through an app and at very low fees. Free savings plans and order fees of a few euros or nothing are typical. In return, there are often few trading venues, where spreads can be wider. Payment for order flow has been banned in the EU since 30 June 2026.
Neobrokers are newer providers that move the brokerage account almost entirely onto your phone. Typical features are low or zero order fees, free savings plans and a streamlined app.
Low prices are possible because neobrokers run lean and often offer only a few trading venues, where spreads can be slightly wider. Payments from trading venues for routing orders to them (payment for order flow) have been banned in the EU since 30 June 2026.
When comparing, look at: trading venues, savings plan range, third-party fees, interest on cash, and whether the provider withholds German taxes automatically. Not all foreign providers do, which means extra work in your tax return.
Sources
As of 5 October 2026 · Educational content, not investment or tax advice.