Flatex
★★★★★3.8/5
Strengths
- Many Trading Venues
- Options & Futures
- Tax-Simple for Austria
- Demo Account
Weaknesses
- Higher Order Fees
- Savings Plan Not Free
Best for
Austrian Investors
Go to Flatex →* Affiliate link · no extra cost for you
Broker Comparison 2026
Flatex vs. Interactive Brokers
Detailed comparison of all fees, features, and suitability — updated for 2026.
Flatex
vs
Interactive Brokers
Our Recommendation
Flatex is the better choice for Austrian Investors, while Interactive Brokers wins for Professionals. Which one suits you depends on your strategy — the detailed comparison below shows every difference.
Numeric Comparison
| Metric | Flatex | Interactive Brokers | Difference |
|---|---|---|---|
| Order fee per trade | 5.90 € | 1.00 € | 4.90 € cheaper at Interactive Brokers |
| 10y savings plan cost @ €100/month | 708 € | 120 € | 588 € cheaper at Interactive Brokers |
| Interest on €10,000 cash (1 year) | — | 4.33 % = 433 € | +433 € more at Interactive Brokers / year |
| Available exchanges | 6 | 1 | +5 more at Flatex |
| BMInsider rating | 3.8/5 | 4.5/5 | +0.7 at Interactive Brokers |
Bottom line: on €10,000 cash Interactive Brokers earns about 4.330 € more interest over 10 years.
Interactive Brokers
★★★★★4.5/5
Strengths
- 150+ Exchanges
- Professional Tools
- Lowest Fees for Active Traders
- High Interest on Cash
- All Asset Classes
Weaknesses
- Complex Platform
- Not Beginner-Friendly
Best for
Professionals
Go to Interactive Brokers →* Affiliate link · no extra cost for you
Detailed Comparison
All fees, products, and platform features compared side-by-side. The "Winner" column shows which broker leads in each category.
| Feature | Flatex | Interactive Brokers | Winner |
|---|---|---|---|
| Fees & Costs | |||
| Order Fee | 5.90€ + Börsengebühr | $0.005/Aktie (min $1) or Fixed $1 | Interactive Brokers |
| ETF Savings Plan Fee | 1.50€ | - | Tie |
| Account Fee | 0€/Year | 0€/Year | Tie |
| Minimum Deposit | 0€ | 0€ | Tie |
| Interest on Cash | 0% | bis 4.33% (USD) | Interactive Brokers |
| Product Range | |||
| Stocks | Tie | ||
| ETFs | Tie | ||
| Crypto | Interactive Brokers | ||
| Options | Tie | ||
| CFDs | Tie | ||
| Fractional Shares | Interactive Brokers | ||
| Number of Exchanges | Xetra, Frankfurt, Wien | 150+ Börsen in 33 Ländern | Flatex |
| Platform & Tools | |||
| Mobile App | Tie | ||
| Desktop Platform | Interactive Brokers | ||
| Demo Account | Tie | ||
| Security & Regulation | |||
| Regulated by | BaFin / FMA | SEC / FCA / BaFin | Tie |
| Deposit Protection | 100.000€ | $500.000 (SIPC) | Tie |
| Founded | 2006 | 1978 | Tie |
| Overall Rating | |||
| Rating | ★★★★★ | ★★★★★ | Interactive Brokers |
Which Broker for Whom?
Depending on your strategy and experience, one broker fits better. Here's how to decide:
For Beginners
Interactive Brokers
Low barriers, simple app, demo account and no hidden costs — perfect to get started.
More about Interactive Brokers →For Active Traders
Interactive Brokers
Low per-order fees, many trading venues and derivatives access — important if you trade regularly.
More about Interactive Brokers →For Long-Term Investors
Interactive Brokers
Free savings plans, interest on cash and no custody fee — what matters when you buy & hold.
More about Interactive Brokers →Detailed Assessment
Who is Flatex?
Flatex is especially popular in Austria as a tax-simple broker with access to many exchanges and derivatives.
Strengths in Detail
- Many Trading Venues
- Options & Futures
- Tax-Simple for Austria
- Demo Account
Weaknesses
- Higher Order Fees
- Savings Plan Not Free
- No Interest on Cash
- No Crypto
Who is Flatex worth it for?
Particularly suitable for: Austrian Investors, Options Trading, Many Exchanges.
Who is Interactive Brokers?
Interactive Brokers is the professional's choice with access to 150+ exchanges, all product classes, and the lowest fees for active traders.
Strengths in Detail
- 150+ Exchanges
- Professional Tools
- Lowest Fees for Active Traders
- High Interest on Cash
- All Asset Classes
Weaknesses
- Complex Platform
- Not Beginner-Friendly
- No German-Language Support
- No Savings Plan
Who is Interactive Brokers worth it for?
Particularly suitable for: Professionals, Active Traders, International Investors, Options Trading.
Flatex vs Interactive Brokers — German Eurex specialist vs global pro platform
Flatex (founded 1999, now part of flatexDEGIRO) and Interactive Brokers (US-domiciled, founded 1978) are both attractive to active traders — but for different reasons. Flatex is the German Eurex retail specialist with full DAX/Bund options access, all German Regional-Börsen, Wien direct, and steuereinfach status for German residents. IBKR is the global professional infrastructure with 150+ exchanges, deeper options across multiple regional markets, and Tier-1 commercial-grade FX and bonds.
The honest framing: if you trade Eurex options or Wien stocks and you're a German tax resident, Flatex's combination of access + steuereinfach is hard to beat. If you trade global options, futures, FX, or non-European stocks, IBKR is structurally on a different level — and the tax-handling overhead is the price of access.
When Flatex is the better pick
You are a German tax resident wanting steuereinfach. Flatex withholds 26.375 % KESt + Soli at source. IBKR is not steuereinfach — manual Anlage KAP filing required, including for option trades that fall under the controversial €20 000 Termingeschäft loss-cap.
You are an Austrian tax resident. Flatex Austria is austriakonform — automatic Austrian KESt withholding. IBKR is not austriakonform — Austrian residents must self-report every transaction.
You only trade German + European markets. Flatex offers full Wien direct, all German Regionals, Six Switzerland, Euronext. For users whose entire portfolio is European, the IBKR global breadth is wasted.
You want Eurex options without the IBKR multi-currency + tax-filing complexity. Flatex's Eurex retail access is paired with German tax-simple handling and a single-currency (EUR) account. IBKR offers the same Eurex access but in a multi-currency environment with FX-gain tracking, tier-pricing decisions, and quarterly W-8BEN renewals.
You want German telephone customer service in German. Flatex's phone support, while business-hours only, is in German with experienced staff. IBKR's support is English-only.
When Interactive Brokers is the better pick
You trade options at high volume (10+ contracts/month). IBKR's per-contract fee at $0.65 (or $0.15–0.55 Tiered) is materially cheaper than Flatex's per-contract structure once you exceed ~10 contracts/month. For active options traders, the savings compound across hundreds of contracts.
You trade futures or FX professionally. IBKR offers Eurex/CME/CBOE futures at institutional-grade pricing and 100+ FX pairs with sub-pip spreads on majors. Flatex offers limited Eurex futures and no FX direct access.
You trade non-European markets. IBKR routes to 150+ exchanges including Tokyo, Hong Kong, ASX, TSX, Singapore. Flatex offers Wien, Six, US, but no Asian or Australian markets directly.
You want bond market access. IBKR offers direct trading of US Treasuries, German Bunds, corporate bonds at retail-friendly fees. Flatex offers some bond access but with much wider effective spreads.
You hold $50 k+ in USD cash. IBKR's USD interest at SOFR-based tier rates (4.33 %+) outperforms anything Flatex offers. For users with US-dollar exposure, IBKR is structurally cheaper.
You manage capital across multiple accounts. IBKR supports sub-accounts, joint accounts, custodial accounts, and the IBKR Pro / Lite tiers for advisory setups. Flatex is single-user only.
Taxes — DACH specifics
Germany — Flatex is steuereinfach, IBKR is not. Flatex withholds 25 % KESt + 5.5 % Soli + optional Kirchensteuer at source on every gain, dividend, and interest payment. IBKR Germany (operated through IBIE) does not auto-withhold. Manual Anlage KAP filing is required, including FX gains/losses, US W-8BEN credits, and Vorabpauschale handling.
Austria — Flatex Austria is austriakonform; IBKR is not. Flatex Österreich withholds Austrian 27.5 % KESt at source. IBKR Austrian residents must self-report via Anlage E1kv on FinanzOnline. For Austrian investors, Flatex Austria offers a meaningful operational advantage.
Vorabpauschale 2026: Flatex applies Vorabpauschale automatically on January 2 by debiting the cash account. IBKR reports the Vorabpauschale base in the year-end statement; Anlage KAP-INV manual filing required.
Eurex-options tax handling — €20 000 Verlustverrechnungstopf: Both Flatex and IBKR offer Eurex options. The controversial German €20 000 cap on Termingeschäft loss offsets applies to both. Flatex's Steueraufstellung separates options vs equities cleanly; IBKR's annual statement requires manual classification of which trades are Termingeschäft (options on indices, options on futures) vs which are not (single-stock options on individual underlyings).
Currency-gain tracking: EUR-tax-resident clients holding USD-denominated IBKR positions trigger taxable currency gains/losses on every position close. Flatex EUR-only operations abstract this away.
Cost example — €100 000 active investor over 10 years
Profile: 1 monthly ETF savings plan at €100, 8 manual orders/month (mix of Eurex options + European equities) at €2 000 average, monthly Eurex options trade (~5 contracts), €15 000 average idle EUR cash buffer.
| Item | Flatex | Interactive Brokers |
|---|---|---|
| 120× savings-plan execution | €180 (€1.50 each) | ~€100 (per-share min) |
| 960× manual orders €2 000 | €5 664 (€5.90 each) | ~€960 ($1 each) |
| Venue fees (40× ~€2) | €80 | included above |
| 120× Eurex options × 5 contracts | ~€2 400 (€4 per contract average) | ~€390 ($0.65 per contract) |
| FX conversion (USD positions ~10 %) | ~€60 (depot bank rates) | ~€20 (institutional spread) |
| Cash interest (€15k × 10y) | €0 (no Tagesgeld) | +€4 500 (3.0 % EUR avg) |
| Tax-handling cost (Steuerberater) | €0 | ~€2 500 (10y × €250) |
| Net 10-year cost | €8 384 | −€530 |
The €8 914 difference is meaningful — and entirely driven by IBKR's per-trade commission advantage at this volume + the cash-interest advantage. For an 8-orders-per-month + 60-options-per-year profile, IBKR is the structurally cheaper option even after Steuerberater fees.
Reduce trading to 1 manual order per month + no options and the comparison flips: Flatex becomes economically competitive because the Steuerberater fee dominates the small commission savings. For low-frequency users, Flatex's steuereinfach + cost-of-tax-handling-saved combination wins.
Verdict by investor profile
German tax resident with €25 k–€100 k portfolio buying ETFs + occasional equities
Pick: Flatex. Steuereinfach + reasonable commissions + Wien access. IBKR's depth is unused at this profile, and the tax-handling overhead deletes any commission savings.
Austrian tax resident
Pick: Flatex Austria. Austriakonformer status alone justifies the choice. IBKR's tax overhead in Austria is even worse than in Germany.
Active options trader (10+ contracts/month)
Pick: Interactive Brokers. The per-contract fee gap compounds. Flatex's Eurex access is fine for occasional use but expensive at volume.
Multi-asset trader (options + futures + FX + bonds + non-EU stocks)
Pick: Interactive Brokers. Flatex's offering is too narrow at this complexity. IBKR's consolidation alone is worth the tax overhead.
Eurex options trader who also wants Wien direct
Pick: Flatex (with IBKR if options volume exceeds 10 contracts/month). The Wien direct access matters; Flatex Eurex options access is good enough for occasional volume.
Frequently Asked Questions
Answers to the most common questions about Flatex vs Interactive Brokers.
For order fees, Interactive Brokers leads at $0.005/Aktie (min $1) oder Fixed $1, while Flatex charges 5.90€ + Börsengebühr. Note: with CFD brokers, spreads add hidden cost — the lower nominal price isn't always cheaper overall.
Flatex is regulated by BaFin / FMA, Interactive Brokers by SEC / FCA / BaFin. Both fall under EU oversight. Deposit protection: Flatex 100.000€, Interactive Brokers $500.000 (SIPC).
For German/Austrian customers, language, BaFin regulation and tax-simple status often matter most. Check the 'Regulated by' and 'Languages' rows — DACH-focused brokers usually have the edge.
Neither Flatex nor Interactive Brokers offers free ETF savings plans. If recurring investing matters, check a savings-plan-focused broker.
Both are covered under their home regulator's deposit protection. Flatex: 100.000€, Interactive Brokers: $500.000 (SIPC). Securities are held in segregated accounts and protected in case of broker insolvency.
Interactive Brokers leads on cash interest at 4.33%. Watch the conditions — some brokers require a paid plan or cap the amount.
Both offer native mobile apps with good app-store ratings. Which is better depends on your needs — try both with a demo account if available.
A second broker makes sense when one offers features the other lacks (e.g. options, crypto, more exchanges). A full switch is only worth it if the cost difference or missing features are significant.
Ready to Get Started?
Sign up with the broker that fits your strategy. Both are regulated and offer a demo account to test risk-free.