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. Smartbroker+
Detailed comparison of all fees, features, and suitability — updated for 2026.
Flatex
vs
Smartbroker+
Our Recommendation
Flatex is the better choice for Austrian Investors, while Smartbroker+ wins for Free Trades. Which one suits you depends on your strategy — the detailed comparison below shows every difference.
Numeric Comparison
| Metric | Flatex | Smartbroker+ | Difference |
|---|---|---|---|
| Order fee per trade | 5.90 € | 0.00 € | 5.90 € cheaper at Smartbroker+ |
| 10y savings plan cost @ €100/month | 708 € | 0 € | 708 € cheaper at Smartbroker+ |
| Free ETF savings plans | 0 | 2.000 | +2.000 more at Smartbroker+ |
| Available exchanges | 6 | 3 | +3 more at Flatex |
| BMInsider rating | 3.8/5 | 4.0/5 | +0.2 at Smartbroker+ |
Bottom line: a €100/month savings plan over 10 years costs 708 € less at Smartbroker+.
Smartbroker+
★★★★★4.0/5
Strengths
- 0€ Trades from €500
- Free Savings Plans
- Xetra Access
- Options Available
Weaknesses
- Relatively New
- App Still in Development
Best for
Free Trades
Go to Smartbroker+ →* 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 | Smartbroker+ | Winner |
|---|---|---|---|
| Fees & Costs | |||
| Order Fee | 5.90€ + Börsengebühr | 0€ (gettex, from 500€) / 4€ (Xetra) | Smartbroker+ |
| ETF Savings Plan Fee | 1.50€ | 0€ | Smartbroker+ |
| Account Fee | 0€/Year | 0€/Year | Tie |
| Minimum Deposit | 0€ | 0€ | Tie |
| Interest on Cash | 0% | 0% | Tie |
| Product Range | |||
| Stocks | Tie | ||
| ETFs | Tie | ||
| Crypto | Smartbroker+ | ||
| Options | Tie | ||
| CFDs | Tie | ||
| Fractional Shares | Smartbroker+ | ||
| Number of Exchanges | Xetra, Frankfurt, Wien | gettex, Xetra, und weitere | Flatex |
| Platform & Tools | |||
| Mobile App | Tie | ||
| Desktop Platform | Tie | ||
| Demo Account | Flatex | ||
| Security & Regulation | |||
| Regulated by | BaFin / FMA | BaFin | Tie |
| Deposit Protection | 100.000€ | 100.000€ | Tie |
| Founded | 2006 | 2019 | Tie |
| Overall Rating | |||
| Rating | ★★★★★ | ★★★★★ | Smartbroker+ |
Which Broker for Whom?
Depending on your strategy and experience, one broker fits better. Here's how to decide:
For Beginners
Smartbroker+
Low barriers, simple app, demo account and no hidden costs — perfect to get started.
More about Smartbroker+ →For Active Traders
Smartbroker+
Low per-order fees, many trading venues and derivatives access — important if you trade regularly.
More about Smartbroker+ →For Long-Term Investors
Smartbroker+
Free savings plans, interest on cash and no custody fee — what matters when you buy & hold.
More about Smartbroker+ →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 Smartbroker+?
Smartbroker+ offers free trades from €500 order volume and free Xetra access. A strong competitor to Trade Republic.
Strengths in Detail
- 0€ Trades from €500
- Free Savings Plans
- Xetra Access
- Options Available
Weaknesses
- Relatively New
- App Still in Development
- No Interest on Cash
Who is Smartbroker+ worth it for?
Particularly suitable for: Free Trades, Savings Plan Investors, Cost-Conscious Investors.
Flatex vs Smartbroker+ — old-school depot specialist vs new-gen discount broker
Flatex (founded 1999) and Smartbroker+ (founded 2019) span 20 years of German depot-broker evolution. Flatex is the old-school depot specialist — €5.90 per order, full Regional-Börsen routing, Wien direct, full Eurex options, Austrian austriakonform status via Flatex Austria. Smartbroker+ is the new-gen discount broker — €0 trading on gettex above €500, free ETF savings plans, modern web/app, BaFin-regulated.
The honest framing: Smartbroker+ is structurally cheaper for European stock trades on gettex. Flatex is structurally better for users who need Wien direct, all Regional-Börsen, Austrian residence, or mature Eurex options.
When Flatex is the better pick
You're an Austrian tax resident. Flatex Austria is austriakonform — automatic Austrian KESt withholding. Smartbroker+ is not — Austrian residents must self-report via Anlage E1kv on FinanzOnline.
You trade Wien stocks (OMV, Erste, Verbund) regularly. Flatex offers direct Wiener Börse access. Smartbroker+ does not route to Wien — Austrian-listed stocks must be traded via secondary German listings with wider spreads.
You want broad Regional-Börsen routing. Flatex routes to Stuttgart, München, Hamburg, Berlin, Düsseldorf, Frankfurt, Tradegate, Quotrix, plus Six Switzerland. Smartbroker+ routes primarily to gettex and Xetra with limited regional German venue access.
You want mature Eurex options support. Flatex has 25+ years of Eurex retail experience with proper bracket orders, multi-leg strategies, and well-tested tax statements. Smartbroker+ offers Eurex but newer; the options tooling is less mature.
You value institutional-grade options tax reporting. Flatex's tax statements separate options vs equities cleanly for the €20 000 Termingeschäft loss-cap. Smartbroker+ does this too, but Flatex's reports are more battle-tested.
When Smartbroker+ is the better pick
You consistently trade orders ≥€500 on gettex. Smartbroker+ charges €0 commission on gettex orders ≥€500. Flatex charges €5.90 + venue fees regardless. For monthly buys at €1 000+ on gettex, Smartbroker+ saves ~€80–€100/year per recurring order.
You want fee-free ETF savings plans on hundreds of ETFs. Smartbroker+ offers €0 savings plans on a broad ETF catalog. Flatex savings plans cost €1.50 per execution outside the partner-program ETFs. For 100€/month savings plans over 10 years, the gap is ~€180 in Smartbroker+'s favor.
You want native crypto + fractional shares. Smartbroker+ supports both. Flatex offers fractional shares but no native spot crypto.
You want a modern, polished web + app interface. Smartbroker+'s digital experience is significantly more app-modern than Flatex's WebFiliale. The mobile app, charting, and order flow feel newer-generation.
You're a younger digital-native investor. Smartbroker+ is built for users who never used a Direktbank. Flatex's interface, while functional, has older-generation patterns.
Taxes — DACH specifics
Germany — both steuereinfach. Flatex and Smartbroker+ both withhold 25 % KESt + 5.5 % Soli + optional Kirchensteuer at source.
Austria — Flatex Austria is austriakonform; Smartbroker+ is not. Flatex Österreich actively withholds Austrian 27.5 % KESt. Smartbroker+ does not have an austriakonform Austrian product — AT residents must self-report.
Vorabpauschale 2026: Both apply Vorabpauschale automatically on January 2.
Quellensteuer on US dividends: Both file W-8BEN; the standard 15 % US withholding is creditable against German KESt automatically.
Eurex-options tax handling: Both support Eurex options; the controversial €20 000 Verlustverrechnungstopf cap on Termingeschäft applies to both. Flatex's tax statements are more mature; Smartbroker+'s are functional but newer.
Cost example — €15 000 active investor over 10 years
Profile: 1 monthly ETF savings plan at €100, 6 manual one-off purchases per year at €1 000 each (gettex above €500), average €5 000 idle EUR cash buffer.
| Item | Flatex | Smartbroker+ |
|---|---|---|
| 120× savings-plan execution | €180 (€1.50 each) | €0 |
| 60× manual orders €1 000 (gettex) | €396 (€5.90 + €0.70 each) | €0 (above €500 threshold) |
| Cash interest (€5 k × 10 y) | €0 | €0 |
| Net 10-year cost | €576 | €0 |
Smartbroker+ comes out €576 ahead over 10 years, almost entirely from the gettex commission-free advantage on €1 000 manual orders.
The Flatex case becomes economically competitive when (a) you trade Austrian stocks (Wien direct), (b) you're an Austrian resident wanting austriakonform automatic withholding, or (c) you're an active Eurex options trader who values mature tax tooling. None of these are economic arguments — they are structural arguments based on specific use cases that Smartbroker+ cannot serve.
Verdict by investor profile
Active investor with €1 000+ gettex orders
Pick: Smartbroker+. €0 commission is genuinely free on ≥€500 orders. Flatex's €5.90 minimum is structurally too expensive at this trading pattern.
Austrian tax resident
Pick: Flatex Austria. Austriakonform automatic withholding alone justifies the choice; manual FinanzOnline reporting on every Smartbroker+ trade quickly outweighs commission savings.
Wien-stock investor (OMV, Erste, Verbund)
Pick: Flatex. Direct Wien access is structurally what Smartbroker+ cannot offer.
Eurex options trader (active)
Pick: Flatex. Both offer Eurex; Flatex's options tooling and tax statements are more mature for active volume.
Crypto-curious investor
Pick: Smartbroker+. Native crypto in the same BaFin-regulated account. Flatex does not offer spot crypto.
Frequently Asked Questions
Answers to the most common questions about Flatex vs Smartbroker+.
For order fees, Smartbroker+ leads at 0€ (gettex, ab 500€) / 4€ (Xetra), 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, Smartbroker+ by BaFin. Both fall under EU oversight. Deposit protection: Flatex 100.000€, Smartbroker+ 100.000€.
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.
Smartbroker+ offers free ETF savings plans from 1€. If a savings plan matters to you, that's a clear edge.
Both are covered under their home regulator's deposit protection. Flatex: 100.000€, Smartbroker+: 100.000€. Securities are held in segregated accounts and protected in case of broker insolvency.
Neither broker pays meaningful interest on uninvested cash. Look elsewhere if cash yield matters.
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.