\r\n\tYou can open a securities account (in German: Aktiendepot) online in a matter of minutes today \u2013 and account maintenance is free at almost every provider worth recommending. The real differences lie elsewhere: in order fees (\u20ac1 at a neobroker versus \u20ac30 and more at a branch bank), in the range of securities and trading venues, in how foreign withholding tax is handled, and in customer support. \r\n<\/p>\r\n
\r\n\tFor small purchases and for getting started, we recommend Trade Republic; for larger orders and long-term safekeeping, a direct bank such as ING. If you hold French dividend stocks like LVMH or Herm\u00e8s, DKB or comdirect make life easiest tax-wise. Everything else \u2013 including sample calculations and a correct explanation of the often misunderstood spread \u2013 follows in this comparison.\r\n<\/p>\r\n\r\n \r\n\t\tA securities account \u2013 often simply called a brokerage account \u2013 is an account for securities. While a current account holds money, a securities account holds shares, ETFs, funds or bonds. It is maintained by a bank or a broker \u2013 in industry jargon, the custodian or depository bank.\r\n\t<\/p>\r\n\r\n\t \r\n\t\tHow does a securities account work in practice? Every securities account comes with a so-called settlement account (cash account). You transfer money from your current account to this settlement account, buy securities with it, and when you sell or receive dividends, the money flows back into the settlement account. From there you can transfer it to your current account at any time.\r\n\t<\/p>\r\n\r\n\t \r\n\t\tIn other words: the securities account is the “treasure chest” for your securities, the settlement account is the cash box next to it. At direct banks such as ING, comdirect or DKB, your existing current account can serve as the settlement account. Neobrokers like Trade Republic, by contrast, deliberately operate as a securities account without a current account \u2013 you simply receive a settlement account with its own IBAN.\r\n\t<\/p>\r\n\r\n\t \r\n\t\tYou may hold as many securities accounts with different providers as you like. That is often even sensible: for instance, a low-cost neobroker for many small individual purchases, plus a direct bank for larger positions or for stocks where withholding-tax handling matters (more on this below). Many full-service banks also offer a joint securities account for married couples \u2013 something neobrokers like Trade Republic and Scalable Capital do not offer so far.\r\n\t<\/p>\r\n\r\n\t \r\n\t\tIncidentally, how many stocks belong in an account is not a question of the provider: technically, thousands of positions fit. For private investors, 15 to 30 individual stocks are considered a sensible range for adequate diversification. Read more in our article on individual stocks as an investment<\/a>.\r\n\t<\/p>\r\n<\/section>\r\n\r\n \r\n\t\tHow do you open a securities account? The process is similar at all online providers and \u2013 including identity verification via video or photo ID \u2013 often takes only 15 to 30 minutes. Depending on the provider, it takes a few hours to a few days until the account is fully activated.\r\n\t<\/p>\r\n\r\n\tWhat is a securities account and how does it work?<\/h2>\r\n\r\n\t
One account or several?<\/h3>\r\n\r\n\t
Opening a securities account: step by step<\/h2>\r\n\r\n\t
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