Smartbroker is introducing a new interest account with one of the highest interest rates on the German market. Advantages and disadvantages of the new account at a glance.
While the European Central Bank (ECB) has reduced key interest rates by a quarter of a percentage point in the third interest rate step this year, the Berlin neo-broker Smartbroker+ is turning the interest price screw upwards. For the first time, the Berlin company is offering its active customers and new customers the opportunity to open a flexible interest account.
With an interest rate of 3.0 percent per year, the new offer is one of the leaders on the German market. Only Trade Republic and wiLLBe offer an even higher interest rate of 3.25 percent and 3.30 percent per year with no time limit. According to the company, the interest rate offered by Smartbroker+ should always be 0.25 percent lower than the currently valid key interest rate set by the ECB.
According to Smartbroker+, the new account is an easy-to-understand interest rate account that, on the one hand, offers security for your own money and, on the other hand, is flexible to use. The interest account is not limited and it is not a promotional interest rate, says Smartbroker board member Thomas Soltau. In addition, it is not associated with an investment in special funds such as money market funds or ETFs. The only condition is that at least three orders or savings plans are placed per month in order to receive the interest.
Customers’ money is securely deposited at Baader Bank and is therefore subject to the German Deposit Insurance Act. Up to 100,000 euros are protected per customer and bank. Customers could access their capital at any time and react flexibly to market opportunities without having to forego attractive interest rates.
Advantages of the interest account at a glance:
Smartbroker+ complements its offering with the interest account. Investors can trade stocks, ETFs, funds and bonds on 29 German and international stock exchanges. Over-the-counter trading venues are also available for trading derivatives.
In addition to crypto ETPs, investors have recently been able to invest directly in the 25 most important cryptocurrencies, including Bitcoin, Ether and Solana, with a spread of just 0.9 percent. Investors can monitor the currencies at any time using a watchlist and thus keep an overview of their performance.
Investors can trade on the Gettex exchange for an order volume of 500 euros or more for 0.00 euros in order fees; up to 500 euros, the price per order is 1.00 euros.
“Our goal is to offer the best conditions for active users. To achieve this, we avoid enticement offers and do not compromise on the number of trading venues or product partners,” says Soltau.
According to the company, the interest account is ideal for investors who want to take advantage of short-term trading opportunities or safely park capital while they wait for the right time to invest.