TRADE REPUBLIC ANNOUNCES LAUNCH INTO LUXEMBOURG, NOW REACHING 340 MILLION EUROPEANS

Brussels, October 18th 2022. Trade Republic, the largest savings platform in Europe, launches its services in Luxembourg today. Luxembourgers can now use the Trade Republic app or website to jump-start their wealth creation journeys with secure, easy and commission-free access to capital markets. ​ Especially Trade Republic’s core product, ETFs and stock savings plans, will help Luxembourgers to save up for retirement and with lower risk. 

“Inflation in the eurozone has risen sharply - this should be a wake-up call for all Europeans," says Christian Hecker, co-founder of Trade Republic. “All Europeans need to have access to capital markets to start fueling long-term investing, participate in economic growth and ultimately save-up for retirement. We built Trade Republic to enable them to do exactly that, and have now opened our doors to a total of seventeen markets, so Europeans everywhere can finally take their personal finances into their own hands.” 

“We now enable all Luxembourg people to have easy and secure access to capital markets to start fueling long-term investing, participate in economic growth and ultimately save-up for retirement in an efficient way. With inflation being at almost 10% percent in Luxembourg while the pension system is under pressure, there really is no alternative to individual investing,” says Matthias Baccino, Country Manager of Trade Republic Luxembourg. “Everyone who leaves their money just sitting in their bank account will lose purchasing power year over year, and the state pension - even if you work until 70 years of age - will not be enough to keep up your lifestyle with the planned decrease of pensions.”  

In Luxembourg, the average household currently saves 12 percent% of their income, a lot of which sits idly in bank accounts¹ generating a massive loss of value due to inflation. On top of that, Luxembourgers are still facing high brokerage fees or are getting offered investment products that are difficult to understand. Trade Republic has set out to change that: since 2015, the company has built a financial offering from scratch with an easy-to-use product everybody can afford, so everyone can start putting their money to work. Trade Republic does not charge its customers any order commission, there is just one euro of external fees to cover clearing and settlement, regardless of the size of the order. Savings plans for stocks and ETFs are offered completely free of brokerage charge. ​ 

“Through our easy-to-understand product, we want to encourage everyone to take advantage of opportunities in the financial markets,” says Christian Hecker, co-founder of Trade Republic. “50 percent of our customers have never invested before, and now consider Trade Republic a reference for savings plans and for the long-term growth of their own funds. We are delighted to now also offer all Luxembourgers the opportunity to save, invest and access capital markets in a safe, easy and convenient way.” 

Luxembourg customers have access to a total of over 9 300 Belgian, European, Asian and US stocks and ETFs, real-time data, price alerts, a wide range of different order types and extended trading hours, from 7:30am to 11:00pm. Savings plans, with which users can automate investing in the stock markets, are available for almost 3 800 stocks and ETFs. Derivates will also be available within a couple of days after the launch. ​ 

The Trade Republic account can be opened in the app as well as on the desktop in just a few minutes The Trade Republic app is available for iOS and Android and can be downloaded for free from the App Store and Google Play. There is also a desktop version available. Opening an account with Trade Republic will just take a few minutes and is possible for adult users who are both fiscally and physically resident in Luxembourg with a smartphone (with iOS or Android operating system), a European telephone number and a SEPA bank account. 

To change the financial system, Trade Republic has built a financial offering from scratch since 2015 with an easy-to-use product everybody can afford. With more than €1.3bn in venture capital investments by Sequoia, Peter Thiel’s Founders Fund or most recently Ontario Teachers’, Trade Republic will continue to strongly invest into further growth, to expand its offering and launch new products to empower all Europeans to create wealth. Trade Republic Since its launch in Germany in 2019, Trade Republic has become the largest savings platform on the ​ European market, is combining the security needs of a highly regulated environment such as the banking industry with the flexibility and customer centricity of a high-tech platform. Besides Luwembourg, Trade Republic is today also expanding its services to Estonia, Finland, Greece, Ireland, Latvia, Lithuania, Luxembourg, Portugal, Slovakia and Slovenia. The company is now present in a total of 17 European countries, reaching 340 million people. ​ ​ 

Press contact:

Olivier Duquaine

Managing Director, Backstage Communication

• olivier@backstagecom.be
• +32 477 50 47 84

• www.backstagecom.be

About Trade Republic

Trade Republic is on a mission to set millions of Europeans up for wealth creation with secure, easy and commission-free access to capital markets. With over one million customers, Trade Republic is already the home screen app for many Europeans to manage their wealth. It offers investing in equities, derivatives, crypto as well as fractional savings plans. Trade Republic is a technology company supervised by Bundesbank and BaFin. As Europe’s largest savings platform, Trade Republic has received investments by Accel, Creandum, Founders Fund, Ontario Teachers‘, Project A, Sequoia, TCV and Thrive Capital. The company based in Berlin was founded in 2015 by Christian Hecker, Thomas Pischke, and Marco Cancellieri. 

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