Trade Republic aims to make securities trading more transparent and professional. The neobroker is directly connecting 30 global trading venues and introducing automatic best-price execution. Orders will now be executed at the best available buy or sell price regardless of size. Customers can also select specific exchanges such as Xetra, Euronext, or Nasdaq—particularly relevant due to differing trading hours.
The app displays live data from the aggregated order book as well as individual exchange order books for free. Brokers often charge fees for real-time quotes or offer them only in a limited capacity. Also new is a web terminal with professional chart analysis, screeners, and live market data, aimed primarily at active traders. Trade Republic says it now has more than ten million customers.
The background to the change is the abolition of so-called payment for order flow (PFOF) at the beginning of July 2026. This practice, in which brokers received compensation from trading venues or market makers for routing orders, had long been criticized. With its elimination, providers must adapt their models and are now placing greater emphasis on selection, transparency, and the quality of connected exchanges.
The new flat fee of one euro per trade (two euros for direct-price orders) can still be cheaper for investors than the previous free trading via only one exchange. What matters is the actual execution price: spreads or better execution quality can more than offset the flat fee, especially for larger orders or highly liquid securities. The automatic selection of the cheapest trading venue is likely to benefit less experienced investors in particular.
Source: t3n.de
