Finanzen.net Zero is a neobroker with commission-free transactions and only one single market maker exchange (Gettex). It essentially offloaded all the technical parts to Baader Bank so acts as a wrapper around that bank, which may be significantly conflicted in executing client trades. It may be suitable for some investors that are investing low amounts and do not have sophisticated needs. But, for most investors it’s currently a no-go. Our assessment: Finanzen.net Zero scores 2.3 in its category driven by a sub-standard platform, poor user feedback, and reliance on one exchange only. Here are key highligts: Passive Investors: Finanzen.net Zero may be suitable for some passive investors who prioritize low costs and simplicity. But, the platform is far behind competitors in terms of ease of use. The reliance on market spreads may impact returns over time, especially for larger investments.Semi-Active Investors: Semi-active investors will find Finanzen.net Zero unsuitable due to its reliance on the Gettex exchange and limited access to international markets. Advanced Investors: the platform lacks key features such as margin trading, options, and futures, which are often essential for sophisticated strategies.
Pros & Cons And Suitability
▶ Pros & Cons
No custody fees
BaFin regulation
No trading commissions but higher spreads may apply
limited markets access
100% Through Single Market Maker Exchange
Poor user feedback
Fragile (PFOF ban) & unproven business model
▶ Suitability
Passive
Somewhat SuitableFine for basic investing but GETTEX EXCHANGE ONLY
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Semi-Active
Not SuitableNo exchanges apart Gettex, unproven business model
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Active
Not SuitableLack of Advanced investing features
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Country Availability
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Broker Snapshot
Why Is Finanzen.net Zero A Tier 2 Broker?Finanzen.net Zero is classified as a Tier 2 broker as it lacks some of the premium features and global reach associated with Tier 1 brokers. While it excels in offering commission-free trading, a digital platform, and a wide range of tradable assets, it is primarily focused on the European market and does not provide access to international markets outside of Europe. Additionally, the platform lacks advanced tools that are often expected from Tier 1 brokers. Finanzen.net Zero manages around €3 billion in client assets and has a growing customer base of over 200,000 users, but that’s about €150 average balance per user – a low average even by Tier 2 standards.BaFin indirect Regulation and no disclosed financialsFinanzen.net Zero was created just over 4 years ago and is not listed or rated. As such, its financial information are also not disclosed. It is regulated by BaFin, but the licence is not in its own name (a third party company is the holder)
▶ Company Info
Inception Year: 2020 (Finanzen.net Group: 2000)
Headquarters: Karlsruhe, Germany
Key Owner: Inflexion and Finanzen.net founders
Bank Affiliated: No
Listed on Stock Exchange: No
▶ Regulation
Key Regulators: BaFin
EU Entity: Finanzen.net Zero GmbH
EU Regulator: BaFin
EU Guarantee: €20,000
No Commissions but just one exchange creating conflicts of interestFinanzen.net does not have custody and commission fees and the FX fees are reasonbable. They have a good ETF availability but on one Exchange only, Gettex. They heavily rely on this Single Market Maker exchange, implying PFOF, conficts of interests and potentially worse spreads.
▶ Features Overview
Base Currencies: EUR
ETF Availability: High
Multicurrency: No
Cash Interest: No
Margin Loans: No
PFOF Reliance: Yes
Exchanges: Second Tier Exchanges
▶ Fee Structure
Custody Fees: None
Inactivity Fees: None
ETFs Dealing Fees: None (Gettex spreads)
FX Fees: 0.25%
Deposit Fees: None
Withdrawal Fees: None
Security Lending: Not Available
Company ⓘ
Finanzen.net Zero is a German neobroker operating under DonauCapital Wertpapier GmbH, with client assets held by Baader Bank. Acquired in 2024 by Inflexion and its founders it has the typical German investor protection up to €20,000. Although Finanzen.net Zero operates as a brokerage platform, it does not hold its own financial license.
Finanzen.net Zero was previously majority-owned by Axel Springer, a prominent German media company. However, in 2024, Axel Springer sold its majority stake in the Finanzen.net Group to Inflexion, a private equity firm, and the founders of Finanzen.net. This change in ownership has positioned Finanzen.net as a standalone company.Although Finanzen.net Zero operates as a brokerage platform, it does not hold its own financial license. Instead, it operates under DonauCapital Wertpapier GmbH, a licensed financial institution regulated in Germany. This means that DonauCapital Wertpapier GmbH provides the necessary regulatory framework and infrastructure for Finanzen.net Zero’s brokerage services.
Finanzen.net Zero operates under the Finanzen.net Group, which was acquired in 2024 by private equity firm Inflexion and the company’s founders in a deal valued at €400 million. The Group reported an estimated €80 million in revenue in 2023, with an EBITDA of approximately €30 million, indicating profitability. Finanzen.net Zero itself manages around €3 billion in client assets and has a growing customer base of over 200,000 users. The company does not have any publicly disclosed significant debt.
Finanzen.net Zero is regulated by the German Federal Financial Supervisory Authority (BaFin) and provides investors with a protection amount up to €20,000. Specifically, the scheme covers up to 90% of an investor’s claims, with a maximum limit of €20,000 per investor. This level of protection – while standard among most EU brokers – is considered low. Cash held at Finanzen.net Zero is protected by the German Compensation Scheme up to €100,000, though it is pooled unless held in your name.
Finanzen.net Zero collaborates with Baader Bank, a German financial institution, to manage its clients’ cash and securities accounts. Baader Bank is responsible for account and custody account management. This implies possible conflicts of interest and heavy reliance on one party.
Finanzen.net Zero has maintained a clean reputation with no significant regulatory issues.
Fee Structure ⓘ
Even though Finanzen.net Zero is a commission-free broker, it relies on one counterparty and the spreads may be uncompetitive, especially for larger trades.
There are no custody fee.There are no trading fee, however all trades are executed on Gettex.
Finanzen.net Zero charges 0.25% for transactions in currency other than Euros.
Fee Simulation vs Competitors
Most of our readers have simple Index portfolios. Using our Broker Total cost calculator, you can estimate the total cost of holding ETFs throughout the investment period. For our simulated scenarios, Finanzen.net comes out as very competitive but all trades are on Gettex exchange.We compared it against other two Tier 2 brokers with an international offer. We’ve chosen to compare Finanzen.net to Scalable Capital and Degiro. ⚠️ SINGLE MARKET MAKER EXECUTION COSTSAny simulation only takes into account direct visible commissions. As an investor you also face less visible costs including spreads. Finanzen.net Zero trades on Gettex Exchange only. Single market maker exchanges like Gettex are opaque and according to numerous NCAs in Europe have worse execution (spreads) as compared to traditional exchanges like Xetra, particularly for trades above €500.
There are also no fees for a security transfer and savings plans provide free trading regardless of order size.
Platform & Features ⓘ
Finanzen.net Zero is essentially run by Baader Bank creating a potential conflict of interest. It provides basic features for investors, such as a decent selection of ETFs and regular savings plans. However, its business model relies on a single market maker exchange impacting availability of products. No cash interest is paid and advanced features are limited.
Account Opening Process
Opening an account with Finanzen.net Zero is a fully digital process. The platform requires users to complete an online registration form, provide proof of identity (via a valid ID or passport), and verify their address with a utility bill or similar document.
Desktop PlatformMobile AppMulticurrencyMargin LoansCRESTShare TransferSecurity Lending – CompensatedRobo AdvisoryCash InterestAutomated InvestingFamily & Friends Sub-accountsElective Professional Investor Status
Large Range of ETFs including Amundi, iShares and Xtrackers;Apps for Android and iOS with mixed reviews for usability;No Joint or Family accounts are available.Customer Service: it is available trough mail, phone and chat. User feedback on customer service is mixed. Some users have reported challenges in receiving timely assistance, especially during urgent situations.
The platform is designed with simplicity in mind and does not include advanced features typically found in brokers catering to professional traders.
Finanzen.net Zero operates on a Payment for Order Flow (PFOF) model, meaning it receives compensation from the Gettex exchange for routing client orders. This reliance on PFOF may result in wider spreads compared to brokers that provide access to multiple exchanges. Additionally, all orders are routed through Baader and the platform internalises trades by executing them exclusively on Gettex, which limits market access and may not provide the best possible execution prices for all trades.
Finanzen.net Zero does not currently offer interest on uninvested cash balances held in client accounts.
Finanzen.net Zero does not provide automated tax reporting tools or pre-filled tax forms for its users. Investors are responsible for calculating and reporting their own capital gains, dividends, and other taxable income to the relevant tax authorities. While the platform provides transaction histories and account statements, these documents are not formatted specifically for tax purposes, which may require additional effort from users to compile the necessary information.For German residents, Finanzen.net Zero does not automatically deduct capital gains tax (Abgeltungsteuer) or provide a tax certificate (Steuerbescheinigung). Users must manually report their investment income and pay taxes accordingly. This lack of integrated tax support may be a disadvantage for investors who prefer brokers that simplify tax compliance.
AwardsBest International Tier 2 Broker
