Neobroker: "Free, and in the long term": Trade Republic counters Scalable with retirement provision offer
Trade Republic is venturing out of hiding with a free retirement savings depot. The competition among providers for the retirement savings billions is becoming tougher.
Trade Republic is launching a "completely free" product for the Altersvorsorgedepot, a state-subsidized securities account set to be introduced in January as part of Germany's pension reform. The Altersvorsorgedepot will replace the existing Riester pension plan. Trade Republic's founder and CEO, Christian Hecker, views the free Altersvorsorgedepot as a long-term commitment, citing the company's past success with commission-free trading and passing on ECB interest rates.
Several banks, fintechs, and brokers have been competing aggressively for customers in anticipation of the new product.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
