Trade Republic has set out a zero-fee version of its forthcoming German retirement account, adding price pressure before the country’s new subsidised investment accounts open in 2027. Its 13 October announcement removes ongoing custody charges and regular savings-plan execution fees, and promises several dozen selected ETFs from BlackRock, DWS and Vanguard without product charges over the long term.[1]
The commercial launch and the legal start are different dates. Germany’s reform takes effect for the new products on 1 January 2027. It permits an investment account without a capital guarantee, opening state-supported retirement saving to securities-based offerings. The maximum basic allowance is €540 for €1,800 of eligible annual contributions; that subsidy belongs to the statutory framework and is available subject to eligibility, rather than being a broker-funded investment return.[2]
Published pricing for self-directed retirement accounts
| Charge | Trade Republic announcement | Scalable published offer |
|---|---|---|
| Ongoing account/custody fee | €0 | €0 |
| Regular savings-plan execution | €0 | €0 |
| Selected ETF product costs | Several dozen ETFs without product charges; described as long term | TER credited and reinvested; current page advertises 0% through 31 December 2027 |
| Other individual trades | Not specified in the 13 October release | Pension page quotes €0.99 in FREE or €0 with PRIME+; PRIME+ currently costs €4.99/month.Source 6 |
Scalable announced its self-directed version on 9 October. Its approach makes the fund-cost concession explicit: the normal ongoing ETF charge, or TER, is credited back and reinvested. Scalable says its commercial case rests on long customer relationships and use of several products across its banking platform.[3]
The detailed rebate rules add consequential conditions. From January, Scalable calculates the bonus daily and credits it quarterly in arrears. At quarter-end, the qualifying ETF must still be held and have a savings plan in place; the statutory contribution ceiling must also be respected. Scalable reserves the right to change the eligible selection or future bonus.[5]
A separate pre-launch incentive covers net new purchases of qualifying ETFs in its ordinary brokerage account from 9 October to 31 December 2026. Payment is due by the end of June 2027, conditional on opening the retirement account by 31 January and staying within its contribution limit. This gives existing brokerage clients an immediate reason to prepare for the new product.[5]
The competitive shift is from selling a trading account to holding a long-duration retirement relationship. For customers, comparing the chosen funds, rebate requirements and charges outside regular savings plans will be more informative than treating every use of “free” as the same offer.[3][5]
Sources & further reading
- Trade Republic startet komplett kostenloses Altersvorsorgedepot, damit jeder Euro für die Rente arbeitet. Trade Republic Bank GmbH via EQS News · 13 Oct 2026 · Accessed 20 Oct 2026
- Private Altersvorsorge wird attraktiver German Federal Government · 1 Jun 2026 · Accessed 20 Oct 2026
- Scalable Capital stellt gebührenfreies Altersvorsorgedepot für Selbstentscheider vor: 0 % TER für mehr Rente Scalable Capital · 9 Oct 2026 · Accessed 20 Oct 2026
- Altersvorsorgedepot Scalable Capital · Accessed 20 Oct 2026
- Aktionen und Sonderkonditionen — Rentenbonus für Altersvorsorgedepots Scalable Capital · Accessed 20 Oct 2026
- Scalable pricing models: FREE and PRIME+ Scalable Capital · Accessed 20 Oct 2026