Revamped Brokerage Platform Launched by Openbank in Germany
Openbank, the digital bank division of Banco Santander, has announced updates to its brokerage platform, Openbank Securities Trading, in Germany. The updates aim to simplify investment decisions for customers and offer a modern investing experience.
Partnership with Upvest
Openbank Securities Trading recently launched a partnership with Upvest to provide a platform that allows users to invest in fractional stocks and ETFs, starting from just €1. This collaboration aims to lower the entry barrier for investors by offering access to a wide range of investments.
Competitive Fees
While specific fees for Openbank Securities Trading in Germany are not yet disclosed, the platform is likely to follow a competitive and low-cost model, similar to other digital platforms operating in Germany. The model usually includes a flat fee around €1 per trade order, with no custody or maintenance fees.
Advanced AI and Digital Tools
As part of Banco Santander, Openbank is integrating advanced AI and digital tools into its services. This move is part of Santander’s data & AI-first strategy, which aims to provide intelligent, personalized digital banking experiences, including automated and conversational interfaces.
Accessible Investment Options
Openbank Securities Trading is positioned as a digital-first brokerage, offering modern investing at scale and attracting German customers through accessible investment options and cutting-edge digital tools. The platform will allow customers to invest in over 3,000 individual stocks and 2,000 ETFs.
Automated Investments and Savings Plans
The updates also include the introduction of savings plans, allowing for automated and regular investments in funds, stocks, and ETFs. Additionally, the platform will offer five different strategies based on individual risk profiles, providing a personalized investment experience.
Extremely Competitive Terms
With trading fees reduced to 0.20% of the transaction volume and a minimum trading fee of €1, Openbank Securities Trading offers extremely competitive terms for customers. The platform will be available in Germany, making it easier than ever for Germans to invest in the stock market.
In conclusion, Openbank's updates to its Securities Trading platform in Germany are set to revolutionize the brokerage industry by offering accessible investment options, competitive fees, and advanced digital tools.
Investing with Openbank Securities Trading can be done at a low cost due to its potentially competitive fees in the German market, similar to other digital platforms. This brokerage platform, in partnership with Upvest, also allows users to invest in fractional stocks and ETFs starting from just €1, thereby lowering the entry barrier for investors.
