An investor, who begins to accumulate wealth, should be sure to include the fees due for this in his financial planning.
Besides any costs potentially incurred for the securities account management, the order fees make a particularly strong impact. Depending on the broker and the order variant, the fees can differ by several hundreds of euro. A comparison is well worth it in any case.
To permit the aspiring investor to obtain a current overview, Konsument has examined the order fees of 12 brokers, seven of which are branch banks and five were direct banks, by means of four sample securities accounts. The sample securities accounts held a volume of respectively EUR 10,000, 20,000, 50,000 and 100,000 and they were filled with Austrian and foreign stocks, pension, mixed and real estate funds. The larger the investment sum the more stocks were added further.
The result: flatex makes a compelling case with the most affordable order fees and, as the only broker, it receives an unreserved “very good” from Konsument for each of the sample securities accounts. This makes flatex the test winner.
Placing orders through a traditional bank advisor proved to be particularly costly for the investor in the test. Here, the most affordable offer was €339 in order fees per year and the most expensive one (Jungholz Bank) was even higher by 56%. Yet, the differences in prices between online brokers are also enormous. Here, the most affordable offer was just €125 and the most expensive offer (online variants of Bank Austria, BAWAG P.S.K. and Oberbank) at €350.
“If you are not reliant on consulting and want to trade independently, cost savings of several hundreds of euro compared to a securities account with consulting are attainable by ordering online,”  is the concluding summary of Konsument.
Low or – as is the case at flatex – even non-existing custodian fees are indeed “a nice bonus”, but when making comparisons, every investor should foremost consider the affordable order fees as being much more weighty.
, Source: Konsument, “Securities purchase – cost trap of order fees“, 24.04.2014