The German neobroker Trade Republic has unveiled a real-time execution system that scans 30 different exchanges to find the best prices. Users can choose between an automated €1 routing option or a more controlled €2 direct exchange selection.
A 30-exchange scan for a €1 fee
Trade Republic is transitioning from a single-venue retail model to a sophisticated multi-venue system. According to the report, the new "Mejor Precio" (Best Price) engine compares quotes across 30 different exchanges in real time to find the most favorable price for a given share or ETF.. This move brings a level of liquidity aggregation typically reserved for institutional banks and hedge funds directly into a retail mobile application.
The company, which has been active in Spain since 2021, is positioning itself to challenge traditional brokerage models. as the neobroker expands its footprint, rivals in the European market will likely face increased pressure to match this level of exchange access without significantly raising their own commission structures.
Trading Pro tools for 10 million users
The company is leveraging its massive scale—boasting over 10 million clients and managing €150 billion in assets across Europe—to launch the free Trading Pro suite. This web-based experience is designed to keep active investors within the Trade Republic ecosystem by providing tools such as stock screeners, customizable workspaces, and advanced analytics.
By offering these professional-grade features at no extra cost, Trade Republic is directly competing with paid analytics products that active traders might otherwise use on specialist platforms. This strategy aims to deepen engagement and attract higher-frequency users who require more than basic buy-and-hold functionality.
Direct control of Xetra and Nasdaq for €2
For investors who prioritize certainty over automation, Trade Republic has introduced a "Direct Price" order type. this allows users to bypass the automated engine and send trades directly to specific markets such as BME in Madrid, Xetra, Euronext, or Nasdaq.
The product logic presented is a simple trade-off: investors seeking convenience pay €1 and let the platform decide the venue, while those seeking absolute certainty pay €2 to maintain manual oversight. this allows Trade Republic to monetize granular control without increasing its headline commission for the majority of its user base.
How much will third-party fees and spreads add to the cost?
Despite the clear headline pricing, several critical details remain unverified in the current announcement. The report notes that while the base fees are €1 or €2, the final cost to the user will still be impacted by third-party fees and market spreads. It remains unclear exactly how much these secondary costs will fluctuate or how much they might offset the savings of the best-price engine.
Additionally, the source does not specify which of the 30 venues provide coverage for every specific share or ETF, leaving a gap in transparency regarding total market access. Finally, the announcement focuses entirely on execution infrastructure; no details regarding new regulatory approvals or licensing for these specific routing services were disclosed.
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