Websites for online trading of stocks and shares

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Oh, I see. I think there is a set amount of time before you can re-purchase it after taking a loss. At least that's how it works in the U.S. Otherwise, we'd all sell everything that might be down at the end of the year.

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1 hour ago, fraufruit said:

Oh, I see. I think there is a set amount of time before you can re-purchase it after taking a loss. At least that's how it works in the U.S. Otherwise, we'd all sell everything that might be down at the end of the year.

You can simply use two different accounts. Sell from one and buy back using the other.

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Hi TTers, so much useful information here & great tip @Tim Hortons Man on offsetting gains with losses. Thanks!

 

I hope you can help me. I need recommendations for:

1) a German online broker that allows me to trade as a Geschäftskunde/ German-registered business, and

2) a German online broker that allows me to open an account for a non-US-citizen minor i.e. my child. 

Does anyone here have experience with these? 

 

My main criteria is that I am able to trade EU, US and Asian markets. Re: business accounts, Flatex doesnt seem to have that option. Neither does comdirect (I use them for my private account). IB is out of the question - already asked. Degiro seems to be the (best) option esp in terms of fees but I am hesitant to sign up with them because I don't know how reliable they are, and my gut tells me I should try to stick with a German broker.

 

In terms of opening an account for minors, Maxblue seems to be the best option at the moment - not so great in terms of fees though. 

 

Any thoughts or suggestions? Many thanks in advance!

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Hey All, 

 

I largely have the same question as udomin, above. I am looking for a German online fondsdepot bank which I can manage with my basic German-speaking skills. Especially should have low (or even without) monthly charges since I intend purchasing stocks for a long-term. Low transaction fees and a user friendly app. (If there are any settings in the app to change the language to English, that would be a preference) and good customer service.

 

Thanks all for your generous advice in advance! Cheers

 

 

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4 hours ago, Nicgogol said:

Hey All, 

 

I largely have the same question as udomin, above. I am looking for a German online fondsdepot bank which I can manage with my basic German-speaking skills. Especially should have low (or even without) monthly charges since I intend purchasing stocks for a long-term. Low transaction fees and a user friendly app. (If there are any settings in the app to change the language to English, that would be a preference) and good customer service.

 

Thanks all for your generous advice in advance! Cheers

 

 

Have a look at lynxbroker

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12 hours ago, Nicgogol said:

I largely have the same question as udomin, above. I am looking for a German online fondsdepot bank which I can manage with my basic German-speaking skills. Especially should have low (or even without) monthly charges since I intend purchasing stocks for a long-term. Low transaction fees and a user friendly app. (If there are any settings in the app to change the language to English, that would be a preference) and good customer service.

 

 

Hi @Nicgogol, I use comdirect for my private account. The last time I contacted their online customer support, they provided support in English which was great. I use their online platform on my mac only because it's too hard to see everything on my phone ^_^ One downside: their transaction fees are not the lowest in the market. But if you intend to hold onto your stocks long term, this shouldn't be much of a concern. Hope this helps. 

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16 hours ago, jeba said:

Have a look at lynxbroker

Caveat: while lynxbroker is located in Germany they are not a German bank. Your stocks bonds etc. will be held in the Netherlands (or UK, not sure) which means they won´t do the tax crap for you.

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I'm considering opening a company account either with DeGiro or lynxbroker. Most brokers offer only Private/ shared accounts and these two seem to be the best options for now. But I am a little concerned about how Einlagensicherung works with them... anyone familiar with this topic? 

 

On Lynx's website https://www.lynxbroker.de/wertpapierdepot/einlagensicherung/ the explanation given is:  

 

Im unwahrscheinlichen Fall einer Insolvenz von IB sind Kundengelder sowie Finanzinstrumente durch die US Securities Investor Protection Corporation (SIPC) geschützt. Der Schutz umfasst ein Maximum von USD 500.000 pro Kunde, dies beinhaltet ein Maximum von USD 250.000 auf Bareinlagen. Zusätzlich besteht eine Police mit Lloyd’s, die einen Schutz von USD 30 Millionen pro Kunde bietet (davon USD 900.000 auf Bareinlagen), mit einem Gesamtmaximum von USD 150 Millionen pro Schadensfall.

Für den Fall, dass Positionen in Nicht-US-Indexoptionen, Nicht-US-Indexfutures, CFDs sowie Metals und Cash-Positionen auf dem UKL-Konto bestehen, können Kunden den britischen Financial Services Compensation Scheme (FSCS) wählen. Dieser deckt bis zu GBP 50.000 pro Kunde ab. Falls jedoch ein Kompensationsverfahren mit dem US SIPC läuft oder abgeschlossen ist, kann ein Kompensationsverfahren mit FSCS abgelehnt werden.

 

Does this mean that whatever US-stocks I buy through them are (definitely?) covered under SIPC and non-US stocks would receive no coverage?

 

 

2. For DEGIRO, the website  https://www.sparkonto.org/einlagensicherung-grenzen-2018/  mentions: 20.000 € über Einlagegarantie für Investmentgesellschaften bis zu einem Wert von 20.000 . 

 

Does this mean that if anything were to happen to Degiro, I would receive compensation for only up to 20K and anything over and beyond brokered through them will be gone?

 

Tia!

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Hi @ Udomin: Thanks for the pointers. I've looked at Consors bank too and considering registering there, do you have any ideas about it? Esp. any downsides with Consors bank? I intend to use the Consors depot bank for purchasing stocks and ETFs planned for long-term. 

Any ideas or comments on this?

 

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11 hours ago, Nicgogol said:

Hi @ Udomin: Thanks for the pointers. I've looked at Consors bank too and considering registering there, do you have any ideas about it? Esp. any downsides with Consors bank? I intend to use the Consors depot bank for purchasing stocks and ETFs planned for long-term. 

Any ideas or comments on this?

 

I left them because their fees were quite high when purchasing US stocks and because they charged minimum fees more than once per order even if it was executed in increments. I don´t know though whether this is still the case. You´d have to check before signing up.

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On 2/18/2018, 8:09:34, Nicgogol said:

Hi @ Udomin: Thanks for the pointers. I've looked at Consors bank too and considering registering there, do you have any ideas about it? Esp. any downsides with Consors bank? I intend to use the Consors depot bank for purchasing stocks and ETFs planned for long-term. 

Any ideas or comments on this?

 

 

Hi @Nicgogol if you're setting up a private account, why not go for something with lower transaction cost. try comparing the services here: https://www.brokerdeal.de/broker-direkt-vergleich/consorsbank-vs-comdirect-depot

 

 

sidebar: met an ayondo rep at a conference once & just saw that this comparison site has good reviews about them. Ive not personally used them. Anyone here tried them?

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Hi

 

I´m just digging this one up to see if anyone has any recommendations for share dealing accounts? I had been using degiro but I´m moving as they are struggling to deal with a UK account owned by a German tax resident. 

 

Thanks

 

 

 

 

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I was checking check24 to open a trading account. Till now I have never done any stock trading in Germany. So thought of starting now. Better late than never.

 

The cheapest one it shows is from ING. It says Annual fee as 0€ and 2.90€ per order. However, then it says Total cost per year as 29.00€.

 

I didn't get the last part. Is it that I have to have 10 orders every year or they charge for 10 orders by default if I don't do any trading?

 

 

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Hello mates, 

I got interested in Stock Trading lately, but I have literally no experience. I have read this topic entirely and

now I am even more interested. Do you guys know if there are discussion groups beginner friendly? or if

the discussion here went further in another topic? 

I am looking at the moment for a provider and more education surrounding the topic. 

Cheers,
Luiz

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