If you compare online brokers with a share deposit account, you will find more and more providers who, for example, do not charge any fees and advertise it as a free share deposit account.
No fees can have a different meaning depending on the online broker. There are online brokers who do not charge any fees at all.
This applies both to order fees for a transaction and to basic fees.
However, there are also online brokers who only charge individual fees, such as order fees.
When making a comparison, you should always take a close look at what the respective broker means by a free share deposit account with which you can trade free of charge.
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Really free share deposit account?
Especially if you want to have a free share deposit account, you should always read the small print of the offer. Many online brokers who offer a free share deposit account often have restrictions. For example, although the share deposit account is free of charge, this only applies if a certain value is used per order.
Depending on the online broker, this minimum amount can be up to 500,00 euros. If the investment falls below this amount, the online broker’s share deposit account is no longer free of charge. Rather, in such a case, a percentage fee is charged, usually depending on the order.
This fee ranges between 2 and 4 percent of the order amount. However, there are also brokers who charge a fixed fee per order. Especially if there is a commitment to a minimum sum with the online broker, you should always check carefully whether you can and, above all, want to fulfil the requirements.
Here it essentially depends on what kind of strategy you want to pursue as an investor on the stock exchange.
If you do not want to meet the minimum sums of 200 or 500 euros per order with an online broker, because you are more of a small investor, such a share deposit account is usually not an option.
In practice, a share deposit account with fixed or percentage fees can be much more favourable for the acquisition of shares than a supposedly free share deposit account.
Comparing share deposits
In general, if you want to buy a share deposit account, you should not limit yourself to the question of fees. In particular, whether they are actually incurred, in what amount or not. Instead, the overall offer must always be right for a share deposit account with an online broker.
And this overall offer includes not only the fees, but also, for example, the number of trading venues to which one has access. Since the same shares are not traded on every stock exchange, this is not an insignificant circumstance. Also not to be neglected in a share deposit is the platform itself and its handling. This includes, for example, the type of access. There are online brokers who also allow access to the share deposit via an app on the smartphone.
In this way, you can also access your share deposit account while on the move. Additional functions, such as a demo account, can also be important. Therefore, if you want to look for a stock portfolio or a forex broker with a demo account, you can easily find one on the internet. And it is precisely on the basis of all the information, starting with fees or a free share deposit account, that you can also get an overview of the individual functions and framework conditions.
In the end, you can find a suitable share deposit account that has the best possible functions, but is ideally also free of costs. If you take this into account, there is nothing standing in the way of finding a good and suitable share deposit account and you can use it to be active on the stock market. Finally, a small tip on the topic of a free share deposit account: Since there are regular changes in the offers of a share deposit account of the providers, you should not only carry out a comparison during the search. In general, you should carry out a comparison at regular intervals and change providers if necessary, so that you always have the best share deposit account.