Table of Contents
Key points:
- Currently no Junior Depot at Trade Republic: Minors cannot currently open an account.
- Increasing interest: Discussions and interest in launching a Junior Depot are increasing.
- Alternatives available: Other providers such as Consorsbank and Sparkasse already offer junior custody accounts.
Trade Republic has established itself as a popular online broker in Germany and enables its users to trade securities easily. One of the most frequently asked questions, however, is whether Trade Republic will soon introduce a junior securities account to give minors the opportunity to start trading securities at an early age.
Discover in this article the current developments, the chances of the introduction of a Junior Depot and possible alternatives for you!
Market demand for junior custody accounts in Germany
Demand for junior custody accounts has risen sharply in recent months. Many parents want to give their children the opportunity to enter the securities market at an early age and thus promote financial education. A Junior Depot offers the opportunity to achieve long-term savings goals and teach children how the stock market works.
Current offer at Trade Republic
Trade Republic does not currently offer a special Junior Depot. To open an account with this broker, users must be at least 18 years old, which means that minors cannot open a custody account directly. This fact somewhat restricts families who want to invest in their children's financial education at an early age.
Plans and speculation
So far, there have been no official announcements from Trade Republic regarding the introduction of a Junior Depot. Nevertheless, experts speculate that growing competition and increasing demand could prompt the company to develop such an offering in the near future.
An introduction would be a logical step to reach a younger target group and secure market share.
Experience with Trade Republic
User reviews of Trade Republic are mixed.
While some customers praise the favourable fees and ease of use of the app, others are critical of the customer service and technical problems. Overall, the broker receives an average rating of 3 out of 5 stars on various review portals such as Finanzfluss and Trustpilot.
Is there deposit protection at Trade Republic?
Deposits at Trade Republic are legally protected by Solarisbank up to €100,000 per customer. Solarisbank AG, as Trade Republic's partner bank, is regulated by BaFin and Deutsche Bundesbank. In addition, securities in the custody account are protected as special assets that do not flow into the insolvency estate in the event of the provider's insolvency.
Advantages of a junior custody account
A junior custody account offers a number of advantages that benefit not only the children but also the parents:
Financial security for the future with additional profit
Promotion of financial education
Build up assets for major expenses such as studies or a first car
Automatic savings plans in shares or ETFs (robo-advisors)
Solid entry into the world of finance
Possibility to utilise tax allowances
Simple management by parents
Automatic transfer of the custody account to the child when they come of age
Alternatives to Trade Republic
As there are currently no junior custody accounts available at Trade Republic, we have listed a few alternatives here that may be of interest to you.
| Provider | Advantages & Special Features | Costs | Minimum Savings Rate |
|---|---|---|---|
| Consorsbank | - Large selection of savings plans and ETFs - Includes a daily savings account - eID available for verification |
- Account management: free - Savings plan execution: 1.5% |
€10 |
| 1822direkt | - Available with a daily savings account plus interest and bonuses - Transparent fees - Good selection of stocks and funds |
- Account management: free - Savings plan execution: 2.5% |
€25 |
| Postbank | - Numerous savings plans - Combined with youth checking account - Established bank, with personal advice at many locations |
- Account management: free - Savings plan execution: €0.99 per execution |
€25 |
| Scalable Capital | - Automated investment strategy (Robo-Advisor) - Automatic utilization of tax exemption orders - Modern digital platform |
- Account management: 0.75% of portfolio value - Savings plan execution: 0.12% |
€20 |
You can find more junior custody accounts in our comparison!
Conclusion: When is Trade Republic's Junior Depot coming?
While Trade Republic does not yet offer a Junior Depot, the increasing demand shows that an introduction would be worthwhile. However, parents who want to give their children an early financial education should still look around for alternatives.
Should Trade Republic introduce a Junior Depot in the future, this would be a good addition to its existing offering and could make the broker even more attractive for families.
As soon as the provider releases further information on a Junior Depot, check back with us. We will let you know!
Until then, you can discover our Junior Depot comparison!
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