Questions and Answers

Have you already searched through our FAQs and the questions catalogue sorted by topics? Then simply enter your search term in the search field or browse the individual categories.

When doing so, please also note the different spellings such as, e.g. “over-the-counter” or “over the counter”. 

If you cannot find the answer to your question here, you are of course welcome to contact our Service Team.

Customer service*
+49 9221 - 7035 898

(Please have your customer number and telephone PIN or iTANCard ready)
Monday to Friday from 8:00 AM to 10:00 PM

Prospective customers*
+49 9221 - 7035 897

Monday to Friday from 8:00 AM to 8:00 PM

* The costs for calls from landlines 
(incl. mobile phone networks) depend on the rates of the specific network operator.

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Account opening

Do you have questions about opening an account? Find the answers to the most important and frequently asked questions below.
General information about opening an account
Can I, as a foreign national, open a cash/securities account with flatex?

Selbstverständlich können Sie auch mit Wohnsitz außerhalb Deutschlands bei uns ein Konto/ Depot eröffnen.Um mit der Konto-/Depoteröffnung zu beginnen klicken Sie auf Konto eröffnen.

Sie werden nun Schritt für Schritt online durch die Eröffnung geführt. 

Ihre Legitimation können Sie im Anschluss über die Video-Legitimation, einen Notar oder eine internationale Großbank veranlassen. Den weiterführenden Link zur Video-Legitimation, bzw. die notwendigen Unterlagen erhalten Sie nach durchlaufen des Vorganges angezeigt.

 

 

 

 

 

 

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Can I open a joint account?

Yes, of course you can open a joint cash/securities account in addition to or instead of your personal cash/securities account. At most two account holders are permissible. Please  open the joint account online on our website. Im Anschluss an die Online Kontoeröffnung müssten Sie die Legitimation(Videolegitimation) über die Deutsche Post durchführen. Die notwendigen PostIDENT Coupons werden Ihnen nach durchlaufen des Online Prozesses angezeigt. 

Please note in this context that no exemption order for capital gains can be issued for account holders who are not married to each other.

Important: CFD trading on a joint account is not possible!

 

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Can I open an additional cash account with securities account?

Um ein weiteres Konto/ Depot der gleichen Kontoart zu eröffnen, nutzen Sie bitte im eingeloggten Kundenbereich den Menüpunkt „Service“  und dann den Untermenüpunkt „Depotanlage“. Durch die abschließende Eingabe einer TAN-Kombination wird das neue Konto/ Depot sofort angelegt und kann bereits beim nächsten Login direkt genutzt werden.

Falls Sie eine andere Kontoart (Gemeinschafts-/ Einzelkonto) zu dem bereits bestehenden Konto/Depot eröffnen möchten, wählen Sie einfach Konto eröffnen.

Da Sie bereits legitimiert sind, müssen Sie sich nicht erneut bei einer Poststelle legitimieren lassen.

 

Anschließend senden Sie uns bitte eine E-Mail mit der Mitteilung, dass Sie ein Einzel-/ Gemeinschaftskonto benötigen mit  Angabe der Antragsnummer und der bereits bestehenden Kundennummer. Gerne leiten wir Ihr Anliegen zur Eröffnung eines weiteren Kontos/ Depots weiter.

Das weitere Konto/ Depot wird Ihrer bereits bestehenden Kundennummer zugeordnet. Zugangsdaten werden keine Neuen verschickt, da Ihre Passwörter kundennummernbezogen sind.

 

 

 

 

 

 

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Can I specify several reference accounts?

You can specify 1 reference account per existing cash/securities account at flatex.

If you want to make a cash transfer to an account other than the one on file for you at flatex Bank AG,  flatex Bank AG will need a written order for this purpose (by post or fax if a waiver of fax liability is on file).

Please note that this service is associated with a fee note of EUR 2.50 for a written order.

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Can you also open a cash/securities account for minors?

Opening a cash/securities account for minors is possible but unfortunately not online.

You need to fill out the following forms for the cash/securities account opening:

Cash/securities account opening for minors

PostIdent coupon

“US Person” Questionnaire

Declaration of Private Investors
(required only for the query of real-time price quotes)

Please note that the forms must always be signed by all parents or legal guardians in all cases.

Should you be a single parent or legal guardian, you need to point  this out on the application and provide proof thereof (e.g. divorce judgment, verification from an authority).

All parents or legal guardians must verify their identity (if they are not already customers of ours). To do so, visit any optional German post office for the verification of your identity and take along the PostIdent coupon, the envelope with your documents,
and your valid identification documents. The post office will record your personal data, you will sign the form and the post office worker will then send all documents to flatex Bank AG.

To verify the identity of your child, please submit a copy of the child’s travel document/passport/national identity card or a notarised birth certificate along with the document. The birth certificate can also be submitted in the original and it will be returned to you upon review by flatex Bank AG.

Should you have further questions about this, we are happy to be available to you here at any time.

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Can you also open a call money account at flatex?

Ein Tagesgeldkonto gibt es bei flatex nicht, da wir uns ausschließlich auf das Brokerage-Geschäft konzentrieren, um hier langfristig die günstigen Konditionen halten zu können. Auf Grund dessen bieten wir keine Zusatzleistungen wie Tagesgeldkonten, Girokonten, Versicherungen, Kreditkarten o.ä. an.

Wir bieten unseren Kunden jedoch verschiedenste Tages- und Festgeldangebote im Rahmen einer Kooperation mit unserem externen Partner Zinspilot an. Weitere Informationen

Unser Ziel als flatex ist es, unseren Kunden durch dauerhaft günstige Ordergebühren und ein Höchstmaß an Kundenservice überzeugen zu können. Diesem Ziel hoffen wir auch gerecht werden zu können und danken Ihnen für Ihr Verständnis.

 

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Can you open a cash/securities account with flatex for companies and associations?

Of course, also companies and associations can open a cash/securities account with flatex. However, this is not possible online unfortunately.

We have listed the forms required for this purpose by company form below. Our Customer Service will be happy to provide the documents themselves to you.

If it is a GmbH [German company with limited liability] or AG [German stock company], please fill out the following forms:

  • Cash/securities account opening form
  • Power of representation
  • LOB declaration
  • Authorisation for the cash/securities account (power of disposition)
  • Waiver of fax liability (optional)
  • PostIdent coupon
  • Special authorisation for forward transactions (optional)


For a KG [German limited partnership], please use the following forms:

  • Cash/securities account opening form
  • Power of representation
  • LOB declaration
  • Authorisation for the cash/securities account (power of disposition)
  • Waiver of fax liability (optional)
  • W-8IMY
  • PostIdent coupon
  • “US Person” Questionnaire
  • Special authorisation for forward transactions (optional)


If you would like to open a cash/securities account for an association, you need to fill out the following forms:

• Cash/securities account opening form
• Power of representation
• LOB declaration for an association
• Authorisation for the cash/securities account (power of disposition)
• Waiver of fax liability (optional)
• PostIdent coupon
• W8IMY for the association
• “US Person” Questionnaire

By means of the PostIdent coupon, verification of identity  is possible at any branch of Deutsche Post with a valid identity document.

Verification of identity is required for each shareholder/each member of the board and all additional persons specified in the application with power of representation/power of attorney.

Please send us the filled out and signed documents, including a copy of the commercial register excerpt/excerpt from the register of associations (which must not be older than 3 months) as well as the articles of association, statutes or a corresponding comparable document.

Should a shareholder/authorised person live abroad,  we will require the form “Verification of identity for persons living abroad” for verification of identity.  In that case, please enclose a well legible copy of the verification of identity document. The copy must be provided with the signature and, if applicable, the company stamp of the person who conducts the verification of identity for you. If a national identity card is used, it is necessary that you copy both sides of the identity card. Verification of identity in a foreign country is currently only possible by a notary.

 

Should you have further questions about this of if you would like to receive the documents, we are here at any time.

 

 

 

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What is a reference account?

A reference account is an external  account to be specified by you when you open the cash account and to which you can send retransfers from your cash account with us and through which you can have savings plans be executed. The reference account must necessarily be held in your name and it can only be changed by written request to flatex Bank AG.

Please note that the reference account specified by you must always be denominated in euro.

The reference account is therefore also an additional safety mechanism because your funds from us can only be transferred to this account.

Should you have further questions about this, we are happy to be available to you here at any time.

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As person living abroad, how can I obtain verification of identity?

For this purpose, if you seek verification of identity outside of Germany, please use the form “Verification of identity for persons living abroad”, which is available on our homepage. Please note in this respect that only notaries can conduct this verification of identity abroad at present.

Please always enclose a well legible copy of the verification of identity document. If a national identity card is used, it is necessary that you copy both sides of the identity card. The copy must be provided with the signature and, if applicable, company stamp by the person conducting the verification of identity for you.

Of course, also persons living abroad have the opportunity during a  stay in Germany to obtain verification of identity by means of their official identification document (national identity card, passport) directly in Germany at a Deutsche Post office. To do so, please use the PostIdent coupon on our homepage.

 

 

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All questions relating to cash and securities accounts

Do you have questions about risk classes, authorisations making, changes to your master data and passwords? Find the answers to the most important questions related to cash and securities accounts.
General information about the cash and securities account
Am I obligated to enter a classification in a risk class?

It is prescribed by the Securities Trading Act that every investor must enter a classification in a risk class. This serves for your protection so that you cannot enter a risk that exceeds your personal risk inclination.
flatex Bank AG as well is subject to the Securities Trading Act and we have to ask you to enter your personal risk class when you open a cash and securities account.  

If you would like to trade a security that exceeds your risk class, you will receive a warning that prevents your intended purchase.

Of course, you can adjust your risk class according to your trading activities at any time. You can make this change quite easily via the online form “Change of investment objectives” that is filed in your WebFiliale.

Simply fill it out, print and sign it, then send it to the specified address or you are also welcome to fax it to the following number: 02156-4920319 (provided that you have lodged a waiver of fax liability ). As soon as the form is received by the bank, your risk class will also be changed directly.

 

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Is there an automatic block for my passwords?

If you enter one of your passwords incorrectly three times in a row, the system will apply an automatic block for security reasons.

In that case, your password can only be unblocked if you call the customer hotline +49-(0)9221-7035898 using your telephone password or via email request sent from your email address on file.

 

 

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Are there any incentives for soliciting new customers?

We are very pleased that your are  happy with us and that you would like to recommend us to your friends/acquaintances.

Of course, we would like to thank you for acquiring new customers. We do so by granting you 5 free trades for OTC direct trading. In addition, the new customer acquired by you will also get 5 free trades as a gift from us.

Please simply log in to your Web Branch and then go to the “Settings” tab, submenu item “Customer solicitation”. Please enter the email address of the person you have solicited and  which will be used by the new customer to register with us. As soon as the new customer recruited by you will have has executed his/her first trade, you will get an email from us with the note that your 5 free trades can be redeemed for OTC direct trading.

 

 

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Can I also receive real-time price quotes from you?

Yes, as a customer of flatex, you have a free contingent of 50 real time quote request available upon the opening of the cash/securities account. Thereafter, you will get 25 real time quote requests credited automatically each month plus an additional 10 real time quotes per executed securities order. Additional quote requests are subject to cost according to the list of prices and services.

In addition, you have furthermore the option to be supplied with real time push quotes using our trading tool, the flatex Trader. Depending on the respectively booked price quote package, you get a real time display here of the desired stock prices.

 

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Can I enter a proxy for my cash/securities account and what rights does he have?

Of course, you can enter any optional person of legal age as proxy for your cash/securities account.

He/she can, in particular,

  • dispose over the respective credit balance (e.g. by way of transfer orders),
  • draw down granted credit,
  • enter liabilities at the expense of the account holder where on-account credit facilities or account overdraft limits within the limits common for banks are concerned,
  • buy and sell securities and currencies, request delivery to him/herself and place orders for other exchange transactions (OTC trading),
  • accept account and credit cancellations,
  • accept and acknowledge balancing of accounts, account statements, securities, securities account and income statements and other settlements as well as notifications.

The authorisation does not entitle to:

  • conclusion and change of loan agreements,
  • provision and withdrawal of collateral,
  • specification of a new reference account,
  • executing equity warrant transactions. A special authorisation for forward transactions is required for this purpose
  • of granting a delegated authority.

 

 

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Can I collect direct debits via my cash account?

Direct debits to the credit of your cash account can be submitted only to limited extent. This is only possible in order to have a fund savings plan be executed that debits your reference account.

For this purpose, you need to send us the “Authorisation to collect receivables by means of direct debit orders”.

Direct debit orders serving any other purpose cannot be processed via your cash account.

 

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Are my deposits with you protected?

The bank is attributed to the Entschädigungseinrichtung deutscher Banken GmbH (EdB) [Compensation Scheme of German Private Banks]. The Compensation Scheme protects all deposits that are to be reported in the balance sheet item "Liabilities toward customers". This covers demand, time and savings deposits including registered savings certificates. These deposits are fully covered up to a total amount of EUR 100,000 per investor. 

Deposits are also liabilities from securities transactions, insofar as the bank’s obligation pertains to providing possession or ownership of the funds for the customers. 

For a claim to the surrender of securities, the compensation claim is limited to 90% of the liabilities and a counter value of at most EUR 20,000. 

You can find more information on the website of Entschädigungseinrichtung deutscher Banken GmbH (EdB) at www.edb-banken.de.

Should you have further questions about this, we are happy to be available to you here at any time.

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Why does the stock exchange displayed in the securities account balance differ from the actual stock exchange where I made the purchase?

The fact that a different stock exchange is displayed in your securities account balance than the one where you transacted your purchase is naturally confusing at the first glance, but it has a very simple reason.

The overview in your securities account balance serves as mere help for information and guidance as to the current status of your values. For this purpose, the bank uses the last traded stock price at a German stock exchange with a 15-minute delay. It can of course differ from the stock exchange where you actually traded but, as mentioned, it is only for information and therefore has naturally nothing to do with where you have actually traded the paper. If you would like to control this, you can simply call up the order details in your order book. The trading of your security is possible anyway at all stock exchanges indicated for this value.

 

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Why are sometimes incorrect purchase prices being displayed?

The purchase price of a class is in fact always displayed as an average stock price and that it is of course always different from the actual purchase prices
Please note, however, that this merely an indication. On a sale, of course, always the individual purchase prices of the respective issues are considered so that a correct calculation of any applicable taxes is assured.

Should you have any further questions, please do not hesitate to contact us.

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Why was I charged a fee for “foreign capital transaction”?

For foreign dividend payments, flatex Bank AG requires compensation for expenses incurred for the posting in the form of this “foreign capital transaction” fee.

If the counter value of the dividend payment is less than EUR 15.00, EUR no fee will be charged; if the counter value of the dividend payment is more than EUR 15.00, this fee will increase to EUR 5.90.

This is published accordingly in the list of prices and services.

Should you have further questions about this, we are happy to be available to you here at any time.

 

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Why was my cash account charged with ADR fees?

For the custody and management of ADR/GDR (American depository receipts/see also the explanations on the internet), which are traded in substitution for the stock, fees are charged by the foreign depository.

Until now, this general charge of fees is applied on the respective holdings once a year, on a key date according to our state of knowledge. The fees are passed on from the depository to flatex Bank AG, which then bills them to the customer (external costs).

Additional fees may also be incurred for the ADR/GDR if corporate measures are taken, since  corresponding repostings/entries must be made in the register of the ADR/GDR depository and because these costs are passed on by the depository where the ADR programme is managed.

 

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What can I do when I have forgotten/blocked/lost one of my passwords?

In that case, please contact our Customer Services at 09221/ 7035898. Upon successful verification of identity using your telephone password, you can have your password or iTANCard be unblocked or request that a new password or iTANCard be mailed.

In the case a new password is mailed, your present one will be blocked. The iTANCard will continue to be valid until you have activated the new iTANCard.

In alternative, you can also request the new mailing and unblocking of a password or your iTANCard by email (info@remove-this.flatex.de) from the email address registered with us or by sending a formless letter with original signature.
Please note that you will only be able to place orders by telephone until you receive a new password or new iTANCard. For this purpose, keep your telephone password on hand. In the interest of your personal data security, it is not possible to send passwords by email or to provide them over the phone.

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What needs to be done if a securities account holder has deceased?

At this juncture, we would like to express our deepest condolences in the name of flatex.

So that the formalities related to the loss can be completed as promptly as possible, please send the following documents to flatex Bank AG (Magazinstraße 2, 08056 Zwickau):

  • Original copy of the death certificate (we will return it to you)
  • Inheritance certificate or testament with transcript of the opening of the will
  • Instruction regarding the application of the credit balance, signed by all heirs
  • Copy of the national identity cards of all entitled heirs

You are also welcome to only submit the death certificate initially and submit further documents at a later time.

As soon as the documents are received, flatex Bank AG will contact you directly.

 

 

 

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What passwords are there and what do I need them for?

Securities trading via flatex is enabled and protected by means of the following passwords:

Password FormmodifiableDescriptionPurpose
Login passwordbetween 8 and 15 characters, alphanumericalyesYour login password is initially assigned to you by the bank. However, we ask you to change the password for your own security in the first online access to your account.Your login password in combination with your customer number (user ID) enables you to access your cash/securities account on our website. Our employees will never ask you for your personal login password.
Telephone password (tele PIN)5 digitsnoThe telephone password is assigned to you in the cash/securities account opening process.Our customer service mangers will ask you for parts of your personal telephone password to verify your identity before you can place orders by telephone.
iTANCardMatrixnoThe iTANCard is sent to you automatically upon the account opening.The iTANCard is your personal authentication card and indispensable for meeting the current security standards. Using the iTANCard, you verify your input in the system that requires confirmation.

 

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Which risk class is filed for joint accounts?

Bei einem Gemeinschaftskonto ist  immer die niedrigste Risikoklasse des jeweiligen Kontoinhabers ausschlaggebend.

Ist z.B. für einen Kontoinhaber die Risikoklasse „C“ hinterlegt und für den anderen die Risikoklasse „E“, so können für das Gemeinschaftsdepot nur Wertpapiere gekauft werden, die maximal in die Risikoklasse „C“ eingestuft sind. Loggen Sie sich bitte im geschlossenen Kundenbereich ein. Unter dem Menüpunkt „Service“ und dann im Untermenüpunkt „Anlageziele“ können Sie diese selbstständig anpassen
 
Sie können natürlich Ihre Risikoklasse Ihren Handelsaktivitäten jederzeit entsprechend anpassen.

 

 

 

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Which risk classes are there?
Risk classPermitted for trading withInvestment objective
AFederal treasury notes and financing treasury bonds, pensions with top-grade rating, money market funds in euroMaintenance of asset value, the security of the investment is in the foreground.
BA plus, e.g. pensions in euro with good to very good rating, open-ended real estate funds, pension funds in euroHigher yield expectations are shown alongside appropriate risks.
CB plus, e.g. pensions with average rating, stocks of the DAX 30, DAX 100, EURO-STOXX 50, MDAX, EU standard stocks funds, money market, pension or open-ended real estate funds with a securities account currency other than euroIncreased willingness to take risks
DC plus, e.g. pensions in euro with poor to moderate rating, stocks that are included in the common stock indices, stock, mixed or other funds in euro, closed real estate fundsHigh yield expectation, high willingness to take risks
ED plus, e.g. foreign small-cap stocks, high-risk bonds, high-risk funds, emerging markets funds, equity warrants*, CFDs*Very high earnings expectations and very high willingness to take risk, total loss of capital investment is possible.

 

* Accordant orders can only be executed if you have check-marked on the “Change of investment objectives” form that you also want to exercise transactions involving complex financial instruments in combination with risk class E, and if you have additionally answered the questions on conducting the assessment of appropriateness.

Should you have further questions about this, we are happy to be available to you here at any time.

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How do I change my reference account?

If you would like to change your reference account, simply fill out the “Change of customer master data” form and send the signed original to the address specified on the form.

As soon as the form is received by the bank, your reference account will also be changed directly. The bank unfortunately needs to have this form in the original for security reasons and because this is a highly sensitive area.

Thank you for your understanding. 

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How do I change my address?

In the domestic country:

To change your domestic address or enter a deviating postal address, please log in to your WebFiliale and click on the “Service” tab.

You can now change your master address or record a deviating postal address there on the “access authorized” tab.

If you are unable to log in or if you do not have a iTANCard, please fill out the  “Change of customer master data” form  and send us the signed original form to the specified address.

Abroad:

To  change your data, you have the “Change of customer master data” form available. Please  send us the filled out and signed original by post to the address specified on the form.

Only domestic addresses can be changed online. Thank you for your understanding.

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How do I get a confirmation for Bafög [German Student Grant]?

You would have to inform us by email to info@flatex.de that you need such a confirmation.

We will then be happy to send you this confirmation for the Bafög office.

If we send this confirmation directly to the competent office, this is even free of charge for you.

For this purpose, please let us know the exact address of your Bafög office.

If you would like to have the confirmation to be sent to your private address, this is also no problem but EUR 15 will be charged as costs for this service.

Please tell us directly in your request email which of the two option you prefer.

 

 

 

 

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How does the iTANCard work?

We have compiled everything you need to know about the iTANCard for you here .

 

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How much are the custodian fees for cash/securities accounts?

At flatex, your affordable online broker, you will of course not pay any management fees for cash accounts/securities accounts. You can find an overview of all our service fees relating to securities trading in our list of prices and services.

 



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What is the address of flatex Bank AG in Zwickau (back office department)?

The address of flatex Bank AG is

flatex Bank AG
Magazinstr. 2
08056 Zwickau

Please send us all documents to this address that relate to your cash/securities account, for example, “Changes of risk classes” or “Changes of customer master data”.

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What is the address of flatex Bank AG in Neuss?

The address of flatex Bank AG is

flatex Bank AG
Hammfelddamm 4
41460 Neuss

Please send us all documents to this address that relate to securities trading, for example, order forms, securities account transfers, etc.

 

 

 

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When can I change the login password?

To change your login password, you need to log in to your Web Branch and click on the tab “Service” and choose the tab "Logon Password". You can enter your new optional password here.

Please note in this regard:

  • Password must be different from the previous 10 passwords.
  • Your password must have at least 8 characters and it must be alphanumerical.
  • At least 1 letter and 1 number is required.
  • It is possible to change your password only 1x per day.

The change will be effective immediately.

 

 

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How can I change the securities account holder?

It is unfortunately not possible to transfer the registration of an existing cash account with securities account.

To change your personal account into a joint account nonetheless, with the least amount of red tape or to be able to have your securities account transferred to a third party, please open a new cash/securities account to the new account holder/holders online and then record the new holder/s. Subsequently, please simply have your existing securities account be transferred to the newly opened securities account using a securities account transfer form. 

You can initiate a securities account transfer using the form “Cash/securities account transfer to flatex Bank AG”.

 

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How can I initiate the mailing of duplicates of my CFD statements to my compliance department?

Unfortunately, there is no option for CFD trading to mail duplicates to employers.

We therefore suggest the following solution to you:

In the beginning of a month, a report of the previous month is entered in your document archive and it includes all executed CFD transactions.
You can present this report each month to your employer.

If applicable, please enquire with your employer if this approach is accepted. 

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How can I initiate the mailing of duplicates of my securities bought/sold notes to my compliance department?

The mailing of duplicates for your compliance department is free of charge and will be made on your written request.

Please send the original written  order with your signature by post to:

flatex Bank AG
Magazinstraße 2
08056 Zwickau

Please also specify the exact address for us in the order to which the duplicates are to be sent.

 

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How can I transfer money to my reference account?

To execute a transfer to your reference account, please log in to your Web Branch. 

In the closed customer area ,please click on the submenu item “Transfers” on the “Cash/securities account”  tab. The transfer voucher that has your reference account entered by default will  now open directly. You merely have to add the amount and the purpose for payment, and then confirm your transfer using an iTAN combination.

 

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How can I close my cash/securities account at your institution?

We are very sorry that you no longer want to be a customer of flatex and that you have decided to close your securities account at our institution.

Since customer satisfaction takes the top priority for us and as we also want to improve continuously in this respect, it would be very kind if you could briefly tell us what the reason for your cancellation of flatex is. Could we not meet your standards or do you generally not have any interest in securities trading anymore?

We would appreciate a brief feedback from you via email to info@flatex.de. 

If you nonetheless want to discontinue your cash/securities account, we require a brief written order from you for this purpose.

Please send it to:
flatex Bank AG
Hammfelddamm 4
41460 Neuss

It would nonetheless be very kind of you if you gave us the possibility to convince you of the contrary and of the benefits of flatex.

 

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Where can I see what my free contingent of real time quote requests is?

To check how many free real-time quote requests are currently available to you,  please log in to your Web Branch and click on the “Securities trading” tab.

Now enter any ISIN in the search field.

You will now see your current contingent of real-time price quotes under the displayed stock exchanges. If you see a negative number there, these refer to the queried real-time quote requests that are subject to charges.

 

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Securities account transfer

Do you have questions about the transfer of a securities account? We have compiled answers to the most important questions on this topic for you below.
General information about transferring securities accounts
I still had a Lombard credit at my old bank. Can I have this also be discharge at the same time?

Of course, we can discharge an existing securities credit  maintained at a third bank in the process of a securities account transfer. The following conditions must be fulfilled to do so:

  • We must have received a filled out securities account transfer form and an application for a Lombard credit. We must be given the address and contact person of the third-party bank where the credit is to be discharged.
  • We require a detailed, current securities account overview including any collateral values and current credit line drawdowns from the third bank. The credit amount to be discharged should be confirmed to us by the bank in writing or by fax.
  • We require a confirmation of the transferring bank that the securities holdings remain blocked there and that they cannot be sold while we process the new credit application at our institution.
  • If the credit can be approved by us in the requested amount, we require the customer to return the signed credit documents to us before we can open a credit line.
  • Before the credit will be discharged,  we first need a confirmation from the present bank that the securities holdings, which have been previously confirmed to us, will be transferred immediately against the receipt of money.

Should you have further questions about this, we are happy to be available to you here at any time.

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Does the first-in-first-out method also apply to a securities account transfer?

In a transfer of securities holdings, initially the purchased positions of a security are charged off first in terms of taxes. The purchase date is decisive.

A customer buys shares of XY AG in the years 2014 and 2015. 

Example of a securities account transfer:

Securities accountDateIssues
Purchase23.07.2014100
Purchase26.04.2015100
Holdings200
Carry-over28.07.2016100

On 28.07.2016, the customer instructs a transfer of 100 shares of XY AG in total. According to the FIFO method, the holdings with purchase date on 23.07.2014 will now be charged off from the securities account first.

If you want that your old and new holdings are separated, you can, e.g. open a further account with securities account and then transfer the old holdings to the new securities account.

 

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I cannot sell a paper that has been transferred. I allegedly do not have any holdings. What has happened?

The reason for this can be that a transferred security is kept at the depository Clearstream Lux. We can instruct the responsible department to move this paper to the national depository, so that you can then trade the paper in Germany. This service is of course free of charge for you.

During the time when the depository is changed, you cannot trade the paper.

If you should then wish trade the paper abroad, you would have to order a change of depository. We will be very happy to send you the corresponding by  email. Please notice in this regard that this  change is subject to costs and that a fee of EUR 65,90 will be charged per asset class.

We have unfortunately no influence on the period required for the change of depository.

 

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Can I transfer a paper to flatex that was purchased abroad?

Yes, a transfer is possible in principle.

However, flatex Bank AG receives items that are deposited abroad only at the domestic depository (Clearstream).

Should you then wish to continue trading the paper abroad, you would have to order a change of depository. We will be very happy to send you the corresponding by  email. Please notice in this regard that this  change is subject to costs and that a fee of EUR 65,90 will be charged per asset class.

We have unfortunately no influence on the period required for the change of depository.

Should you have further questions about this, we are happy to be available to you

 

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Can I transfer blocked stocks?

Yes, it is no problem if you want to have blocked stocks transferred, as the stocks are transferred with a block notice, expiration date, and the reason for the block and this is adopted by us 1:1.

Should you have further questions about this, we are happy to be available to you

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If I tell you the purchase data, can you enter it?

The subsequent entry of purchase prices is only possible if flatex Bank AG has been notified of this by the transferring bank by means of Taxbox ID or a bank confirmation.

To be able to enter the purchase data, you simply have to  request the transferring bank to deliver the purchase data in subsequence. flatex Bank AG will then enter the purchase costs automatically in retrospect after receipt, provided that you have not yet executed a further purchase or sale in this asset class in the meantime.

Should this not be possible, taxation at the flat rate would then be applied on a sale. A correction of this taxation is possible only through your personal tax assessment.

Should you have further questions about this, we are happy to be available to you

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Can losses and attributable foreign tax at source be transferred as part of a securities account transfer?

Losses can be carried over in a securities account transfer. The prerequisite for this is that the securities account transfer is one with the identical creditor and that all items held in the securities account are transferred. A mere  transfer of money is not sufficient for the carry-over of losses. It is mandatory that two items are transferred.

On the same conditions, the transfer of attributable foreign tax at source is also possible.

Should you have further questions about this, we are happy to be available to you

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Was bedeuten die unterschiedlichen Übertragungsarten?

Sind die Kontoinhaber bei dem abgebenden und Empfängerdepot identisch, so liegt eine Gläubigeridentität vor.

Weichen die Kontoinhaber voneinander ab, so ist ein Übertrag mit Gläubigerwechsel durchzuführen. Hierbei wird zwischen einem unentgeltlichen Übertrag mit Gläubigerwechsel (Schenkung) oder einem entgeltlichen Übertrag mit Gläubigerwechsel unterschieden. 

Bei einer Schenkung werden die Anschaffungsdaten entsprechend mit an das Empfängerdepot übertragen, es muss jedoch im Gegenzug eine Meldung an das zuständige Finanzamt erfolgen.

Wird der Auftrag zur entgeltlichen Übertragung erteilt, so erfolgt ein fiktiver Verkauf der Werte und die anschließende entsprechende steuerliche Berücksichtigung.

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What does a cash/securities account transfer to flatex Bank AG cost?

No costs will be charged to you by flatex Bank AG. Please ask your present bank about the costs that will be incurred there. However, a cash/securities account is usually transferred by German credit institutions free of charge.

Should you have further questions about this, we are happy to be available to you here at any time.

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What are the tax effects of the individual transfer types?

Within the scope of the flat rate withholding tax, the legislator assumes the so-called “sales fiction”. This means that every securities account transfer is treated and taxed like a sale of assets.

There are the following important exceptions from this:

If the cash/securities account holder of the transferring bank is identical to the cash/securities account holder  of the receiving bank (identity of creditor),

  • no taxes will be charged at the transferring bank.

If the cash/securities account holder of the transferring bank is not identical to the cash/securities account holder of the receiving bank (change of creditor).

The customer informs the transferring bank in writing of the exemption from cost:

  • The bank transfers the assets including the purchase data, to the extent as known to it; the receiving bank enters them to account accordingly. The receiving bank can classify the received data as being correct. No taxation takes place.
    The transferring bank, however, is obligated to inform the tax office that is competent for its business site of the exemption from cost. Transfers of legacy holdings (i.e. securities delivered/purchased before 01.01.2009) are the sole exception from this.

The customer informs the bank that a securities account transfer  that is subject to cost is concerned or does not inform the transferring bank that it is a free  transfer:

  • Taxation of all transferred assets by the transferring bank, whereas the lowest stock price of the previous day in the closing balance of the securities account will be assumed as the selling price. Insofar as no purchase costs are known, 30% of the sales price will be taxed as the so-called substitute assessment base.
    The receiving bank will enter the assets with the stock price that was assessed by the transferring institution as at the transfer date.
    Potential tax corrections are possible only within the scope of the tax assessment.

     

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Will the purchase data also be transferred for legacy holdings?

In the case of legacy holdings (purchase before 01.01.2009), the purchase prices and purchase dates will be transferred if these are available. You can view the data delivered by the transferring bank in your archive on the entry to account screen.

If no purchase data has been transferred for your securities, you would simply have to request the transferring bank to deliver the purchase data in subsequence (to be sent electronically and directly to flatex Bank AG). flatex Bank AG will then update the purchase data automatically step-by-step upon receipt, provided that you have not yet executed a further purchase or sale in this asset class in the meantime.

If no data is delivered (neither date nor rates) , a sale of these securities will be taxed at a flat rate. You can only correct this taxation through the income tax statement.

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Will the data on the purchase costs also be transferred for new cases?

For securities that have been purchased since 01.01.2009, the purchase prices and the purchase date are usually included in the transfer.  You can control this in the entry to account screen in your document archive.

If no purchase data has been transferred for your securities, you would simply have to request the transferring bank to deliver the purchase data in subsequence (to be sent electronically and directly to flatex Bank AG). flatex Bank AG will then update the purchase data automatically step-by-step upon receipt, provided that you have not yet executed a further purchase or sale in this asset class in the meantime.

Should the purchase data not have been included in the transfer and if no subsequent update has been made until a sale,  the flat taxation method will be applied on a sale. A correction of this taxation is possible only through your personal tax assessment.

Should you have further questions about this, we are happy to be available to you

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The purchase costs have not been transmitted. Can this still be done in retrospect?

The purchase data (purchase price and/or purchase date) is delivered together with the items when a securities account is transferred. Unfortunately, however, it can also happen that the transferring banks delay this sometimes or that problems in the data transmission arise and that the purchase data relating to your securities will then not be delivered at all or at a delay.


At  flatex Bank AG, the entry to account is completely automated,  i.e. the  flatex Bank AG waits at most 3 days for the subsequent delivery of the purchase data. If no data has been received by then, the items will be entered to account without the data.

Thus, if no purchase data has been transferred for your securities, you simply have to request the transferring bank to deliver the purchase data in subsequence (to be sent electronically and by post directly to flatex Bank AG). flatex Bank AG will then enter the purchase data automatically step-by-step upon receipt, provided that you have not yet executed a further purchase or sale in this asset class in the meantime.

After the purchase data is entered, it will be considered in a later sale and no tax problems will arise for you this way.

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How can I transfer a cash account and/or securities account to flatex?

To initiate a cash/securities account transfer to flatex or flatex Bank AG, please fill out the form “Cash Account and Securities Account Transfer” and send the signed original to your current bank.

A cash or securities account transfer usually takes one to two weeks. This depends on the processing time required by the transferring bank and the depository of the securities. 

For the period when your securities are already charged off at your current bank but not entered with us yet, trading is not possible.

IMPORTANT: Please be sure to also take note of our form“Important Information on the Transfer of Securities Accounts".

 

 

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Wie kann ich mein Depot, oder auch nur einzelne Depotwerte intern übertragen?

Um Ihr Depot oder auch nur einzelne Werte intern übertragen zu lassen, bitten wir Sie das Formular „Konto-/Depotübertrag“ zu nutzen. 

Ihr Auftrag wäre im Original per Post bei der konto- und depotführenden Bank einzureichen.

flatex Bank AG
Hammfelddamm 4
41460 Neuss

Seitens der flatex Bank AG werden für die Übertragung keine Gebühren erhoben.

 

 

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Wie kann ich mein Depot, oder auch nur einzelne Depotwerte zu einem anderen Kreditinstitut übertragen?

Um Ihr Depot oder auch nur einzelne Werte an ein fremdes Kreditinstitut übertragen zu lassen, bitten wir Sie das Formular „Konto-/Depotübertrag“ zu nutzen. 

Ihr Auftrag wäre im Original per Post bei der konto- und depotführenden Bank einzureichen.

flatex Bank AG
Hammfelddamm 4
41460 Neuss

Seitens der flatex Bank AG werden für die Übertragung keine Gebühren erhoben.

 

 

 

 

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Securities trading

Do you have questions about securities trading orders, over-the-counter direct trading or order and limit supplements? Find answers relating to securities trading below.
Allgemein zum Wertpapierhandel
Do you have day trading possibilities?

Since you will have the money from securities sales directly available again for securities purchases, day trading is of course possible at our institution.

 

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Kann ich bei flatex Fremdwährungskonten führen?

Sie können bei flatex eine oder mehrere Fremdwährungskonten eröffnen.

Für die Eröffnung loggen Sie sich in Ihre WebFiliale ein und wählen Sie unter dem Menüpunkt "Service", den Menüpunkt „Fremdwährungskonto anlegen“.

Verfügbare Währungen sind: CHF, GBP und USD. Die Auszahlungen sind nur über das Euro-Konto (Referenzkontoprinzip) möglich.

Sie können:

  • Einzahlungen von externen Konten direkt auf Fremdwährungskonto vornehmen
  • Kauf von Wertpapieren gegen Fremdwährungskonto ausführen 
  • Transfers zwischen Fremdwährungskonten und Euro-Konto durchführen

 

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Can I trade directly out of the watch list?

Yes, you can trade directly out of the watch list. For this purpose, please call up the desired security in the watch list and then tap “Security details”. A next page will now open that displays the chart for this paper. Now tap the “Trade” button at the right side of the display.

You will be redirected to the mobile Web Branch this way where you can now create an order for this security.

We have filed a description with pictures for you on our website.

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When do the securities have to be in the securities account so that I am entitled to receive dividends?

Domestic stocks must be held up to and including the date of record (often the day of the general shareholders’ meeting) in order to be eligible for dividends.

 

Should you have further questions about this, we are happy to be available to you here at any time.

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Why does your system tell me on a sale that there are allegedly too few issues available at this depository?

You have purchased the paper that you would like to sell in a foreign country.

Securities that you have purchased abroad can also only be sold again abroad. The same applies if you have purchased the issues in the domestic country. Analogously, these can also only be sold again in the domestic country.

To be nonetheless able to sell your paper in a country other than the one where you purchased it, you need to order the custodian flatex Bank AG to change the depository subject to cost.

We will be very happy to send you the corresponding by  email. Please notice in this regard that this  change is subject to costs and that a fee of EUR 5,90 plus an processing fee of EUR 60,00 will be charged per asset class.

Unfortunately, we have no influence over how long the change takes.

 

 

 

 

 

 

 

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Why does your system tell me on a sale that I have allegedly too few issues in my holdings?

This error message is caused by the following circumstances in most cases:

You still have an open sales order for said security in your order book (e.g. a stop-loss order, etc.) The issues are blocked for this reason because it could also theoretically be the case that this order could be executed at the moment when you enter the new sell order. A short sale would then occur, which in turn is not offered by us.

If you would like to sell the security, please delete the open sell order in the order book first and then enter your desired sale.

 

Should you have further questions about this, we are happy to be available to you here at any time.

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Why am I refused the purchase of a certain security due to an allegedly incorrect risk class?

When you opened the account, you decided for an individual risk class.

With this risk class, you can only trade certain securities. You cannot purchase any securities that exceed your risk class for security reasons.

Of course, you can adjust your risk class according to your trading activities at any time. You can make this change quite easily via the online form “Change of investment objectives” that is filed in your Web Branch.

Simply fill it out, print and sign it, then send it to the specified address or you are also welcome to fax it to the following number: 02156-4920319 (provided that you have lodged a waiver of fax liability ).
As soon as the form is received by the bank, your risk class will also be changed directly.

 

 

 

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What happens when an equity warrant was knocked out?

You have two possibilities to choose from if an equity warrant is knocked out. Your security will be charged off automatically as soon as the issuer has transmitted the residual value to us.

Unfortunately, we can never tell exactly when this will be the case, as we do not receive any information in advance about this. However, it usually takes between one and two weeks depending on the issuer.

The security will then be charged off from your securities account and any potentially existing residual value will be credited automatically to your cash account.

 

 

 

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What prices are displayed in the watch list?

The price quotes in the watch list are supplied from the Stuttgart Stock Exchange and respectively in part by the Xetra marketplace. The markets (including the indices) receive indicative quotes from Deutsche Bank.

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What limit types are available at flatex?

At flatex, there are four different limit types:

1. Cheapest/best (without limit)
Such “unlimited” orders are also called market orders and, depending on the market situation, they are executed immediately – buy orders at the cheapest and sell orders at the best conditions.

2. Limit 
“Limited” orders have a price limit (limit amount): Buy orders may be executed at most for the limit amount and sell orders must be executed at least for the limit amount. The actual price of execution depends on the market situation and it can differ from the limit amount! For this reason and thus, to protect the investor, e.g. buy orders for penny stocks with prices below 1.00 are accepted only with limits.

3. Stop loss / Stop buy 
Buy orders with the limit “stop buy” suffix require that a stop limit is entered upon which your order is to be activated. The stop limit must be above the current stock price of the security at the time when you enter your order.

If the stock price of the underlying security reaches the stop limit or exceeds it, the buy order is activated. The order becomes an unlimited buy order (cf. “without limit”).

Stop buy orders for penny stocks with prices below 1.00 are not accepted in the interest of the investor’s security. 
Sell orders with the limit “stop loss” suffix require entering a stop limit on which your order is to be activated. The stop limit must be below the current stock price of the security at the time when you enter your order.

If the stock price of the underlying security reaches the stop limit or falls below it, the buy order is activated. The order becomes an unlimited sell order (cf. “without limit”).


4. Stop limit orders with “stop limit” suffix
require that a stop limit is entered and an additional limit amount. This limit type is only possible in OTC limit trading and in trading via the Xetra and Börse Frankfurt Zertifikate AG stock exchanges.
In principle, stop-limit orders work like stop buy/stop loss orders. The buy or sell orders are activated when the stop limit is reached or exceeded and respectively fallen below. The sole difference: The orders do not become market orders but limited buy or sell orders (cf. “Limit”).

 

Should you have further questions about this, we are happy to be available to you here at any time.

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What order types are available at flatex?

You currently have four order types available at flatex:

  • Standard
  • Trailing stop
  • OCO (One Cancels Other)
  • Midpoint 

The new intelligent order types, OCO and trailing stop, can be used at the Stuttgart and Tradegate stock exchanges and in the OTC direct trading with the issuers BNP Paribas, BondInvest, Citi, Commerzbank, Deutsche Bank X-markets, Goldman Sachs, HSBC, Vontobel and Societe Generale.

1. Standard order
You can enter your normal order here. You have the usual limit types to choose from, which are cheapest/best, limit, stop buy/stop loss and also, depending on the stock exchange, stop limit.

2. Trailing stop
A trailing stop order is based on a traditional stop order. Different from it, however, the stop limit can be adjusted automatically  to  the current stock price at this stock exchange by a difference to be defined when the order is placed (either as an absolute value in EUR or as a percentage rate).

Example:

Current price of the stock is EUR 58. Stop limit is set at EUR 55.
The absolute trailing stop limit difference is EUR 3.
 
In the further course, the stock price of the share rises to EUR 60.
Consequence: Your stop limit is adjusted automatically to EUR 57.

The stock price of the share now falls again to EUR 59.
Consequence: Your stop limit stays at EUR 57.

In the further course, the stock price of the share rises to EUR 62.
Consequence: Your stop limit is no raised further to EUR 59.

The stock price of the share now falls again to EUR 59.
Consequence: The trailing stop limit takes effect and your share will be sold at the next reported stock price.
 
Please note that this order type is available to date only at the Stuttgart Stock Exchange and the Tradegate trading exchange, as well as at some direct trading partners.

At some exchanges (e.g. Tradegate or Deutsche Bank), it is additionally possible to enter a further stock price limit in addition to the stop limit.

The limit here is understood as an absolute value of the difference from the trigger price and not as an absolute limit!

Example:

Sale: Limit difference value = 1

Triggering at stock price 10 >> limit: = 10 - 1 = 9

You can query the current value of your stop limit at some exchanges (not the Stuttgart Stock Exchange)  during trading hours via your order book using the detail display (magnifying glass).
 
3. OCO (One-Cancels-Other)
In principle, a one-cancels-other order consists of two orders at a time, one of which will be deleted if the other is executed. When you enter the order, if you intend a sale, select a stop loss to secure your position in downward direction and at the same time, also set a top sell limit to take profits. Accordingly, you will be positioned for falling as well as rising stock price developments without having to observe the market all the time.

Example:

You hold a position of stocks that are currently at EUR 55 and you would like to sell them either when reaching or falling below a stock price of EUR 50 (stop loss for protection) or you want to sell them also if the stock price reaches EUR 60 (sell limit). 

The one-cancels-other order applied as buy order enables you to enter trading at a cheaper price than the current one as one option. Or, as the other option, you enter trading automatically when the upper stop buy that you have chosen is reached because you expect further rising rates when this benchmark is broken.

4. Midpoint


This is an additional order type offered at the Xetra exchange.
Through this functionality of Deutsche Börse, all Xetra participants can enter orders in a closed order book and be certain of complete anonymity. The transaction price is always exactly the average value between the best buying rate and best selling rate in the open order book at the Xetra.

With Xetra® MidPoint, trading participants can trade stocks of the DAX®, MDAX®, SDAX® and TecDAX® indices without disclosing the volume and limit of their order. Smaller orders can be rejected by the stock exchange. This entails that also partly executed orders can no longer be executed or changed when the open volume is too small. In these cases, the relevant orders can only be cancelled.

Orders in Xetra MidPoint can be provided with or without limit. Order suffixes to control the transaction are possible, for example, “Fill or Kill” and “Immediate or Cancel”. Orders are exclusively executed together with other Xetra MidPoint orders.

 

 

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Which order suffixes are available at flatex?

Fill or Kill (FoK)

Orders provided with this order suffix must be executed either completely and immediately or not at all. This means that when a complete and immediate execution is not possible, the order will be deleted completely. This order suffix can  be used in the electronic trading system XETRA and in OTC limit trading.

Immediate or Cancel (IoC)

Orders provided with this order suffix must be executed immediately, either completely and partly. The part that cannot be executed immediately or the complete order, if applicable, will be cancelled automatically by Xetra. This order suffix can  be used in the electronic trading system XETRA and in OTC limit trading.

All or None (AoN)

In OTC limit trading, you place an order with this order suffix that will be executed to full extent.
If the transaction cannot be executed to full extent, the order will be retained until the end of its validity period.

Please note that only orders valid for a day can be provided with this suffix for stocks in OTC trading!

Should you have further questions about this, we are happy to be available to you here at any time.

 

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How do I receive securities information at flatex?

You can call up securities information at flatex via the search field at the top left in your protected customer area. Please enter the ISIN or the name of the security here and a new window with information and a chart for this security will open immediately. 

 

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How can I have a security that is no longer tradable be charged off from my securities account?

To have a security charged off at no value from your securities account, we need a written order from you. This order should have the following wording:

 “I hereby assign all present and future rights arising from the security >>ISIN<<,  >>no. of issues << to  flatex Bank AG”.

Please send this order to the following address:

flatex Bank AG
Hammfelddamm 4
41460 Neuss

Please clarify whether and to what extent your tax office recognises this loss directly with your tax adviser or the tax office ahead of time.

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How can I change an order?

To change an order, please go to your order book and call up the “Open orders” display.
Behind the order to be changed, click on the pen symbol. You can now change your order according to your wishes. Please note in this respect that you can only change the content of your order but not the stock exchange and limit type.

A direct order change for the limit suffice “stop loss/buy” and “stop limit” is not possible at Tradegate. For a change, the order must first be deleted and then re-entered.

It is also not possible to change limited orders at foreign stock exchanges. Here, you need to first delete the order and thereupon re-enter it.
Orders with the suffix “OCO” or “trailing stop” can likewise not be changed. Here, too, you need to first delete it and then re-enter the order.

If you would like to change a stop-limit order, there are a few particularities to note:

A stop-limit order consists of two components, the stop-loss order and the limit order.
Of course, you can change both the stop loss as well as the limit, for as long as the order has not been executed yet.
When you change a stop-limit order, it is important that you assure yourself beforehand that the stop loss has not already taken effect, because a change of the stop loss will otherwise not be possible or the change will then not take effect anymore.


The particularity of the stop-limit order is that the order will not return to execution again directly after the stop-loss threshold is reached but the limit must first still be reached. For as long as this limit is not reached yet, it can of course be changed at any time.

Example:
You enter the following values for an intended sale (stop loss order):

  • Stop loss: 50
  • Limit: 49

Meaning, you want that this order is stopped at a price of EUR 50 and you would then like to get at least EUR 49 as selling price.
If the next  price quoted for the security were to fall to EUR 47, the order would not be executed, as the limit of EUR 49 was not reached, i.e. the order is placed as limit order in the market.

Change the order now as follows:

  • Stop loss: 40
  • Limit: 39

The change of the stop loss will not take effect at this time anymore, as the order is already active and the stop has already been triggered.
However, it is of course possible to change the limit.
I.e. the order would then be as follows:

  • Stop loss: 50
  • Limit: 39

If you would like to change the stop-loss limit for an order that has already been triggered (i.e. the stop loss  has already been triggered), you can only delete this order and then re-enter it.

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How can I delete an order?

To delete an order, please go to your order book and call up the “Open orders” display.

Behind the relevant order, click on the “X” symbol.


Deleting an order is free of charge.

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How can I exercise my option right?

To be able to exercise your option right, you need to send us a written order. This order must contain all relevant data (securities account number, customer number, customer name, securities identification number, number of issues, date on which the option is to be exercised) and it must be received by flatex Bank AG at least two days before the execution date.

The contact address is:

flatex Bank AG
Hammfelddamm 4
41460 Neuss

Please note that the issuer of equity warrants has the right to choose between the delivery of issues and the delivery of money upon the exercise of the option. According to experience, the issuer will decide for the variant more beneficial for it (usually the delivery of money).

Please seek information on advantages and drawbacks before you exercise your option.

If we have received a fax liability statement, you can also submit your order by fax to 02156/ 49 20 319. No fees are incurred for the exercise.

 

Should you have further questions about this, we are happy to be available to you here at any time.

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How can I call up real-time price quotes?

To be able to call up real-time price quotes for a security, you need to log in to your Web Branch and click on the “Securities trading” tab.

Now enter the desired ISIN in the search field.
You can now click on the “RT” button behind the desired stock exchange and the real-time price quotes for this stock exchange will be displayed.

 

Should you have further questions about this, we are happy to be available to you here at any time.

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How can I issue a securities order via flatex?

Issuance of an order  is of course possible online after your customer login.

It is also possible to place a securities order by telephone or letter. Enter your order on the computerised phone system and you will not incur any additional costs. If you have your order entered by our customer service employees over the telephone or place your order by post, a surcharge of EUR 15,90 per order will be incurred. Placing a securities order by fax is not possible.

Should you have further questions about this, we are happy to be available to you here at any time.

 

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Over-the-counter direct trading
Can you also enter limit orders in OTC trading?

Yes. When placing an OTC order, you can choose if you want to select a direct quote request (price quote request) or instead want to set a limit for your OTC order (limit order). 

Here ,you can find out which direct trading partner supports limit trading.

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Why do I sometimes not receive a price bid?

The trading partners usually provide the prices for all offered titles. But there is no obligation to do so. In the case of strong price fluctuations, it can also happen that the trading partner is unable to provide appropriate price quotes. In these exceptional situations, there is still the possibility to use the stock exchange.

Should you have further questions about this, we are happy to be available to you here at any time.

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Why am I unable to trade a newly issued security in the OTC market?

For newly issued securities, the issuer delivers the data to flatex Bank AG.  If this data has not been delivered yet on the issuance date, trading will be possible only on the next day.

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Why was my order in direct trading rejected?

There can be a number of reasons why an order is rejected. The details you have chosen might possibly not match the current price development or the existing volume of the chosen class. It is generally also possible that the desired security is suspended from trading or a corporate measure is being conducted.

Please also note that only non-binding indicative quotes are provided in OTC direct trading. If you activate the “Buy subject to charges” or “Sell subject to charges” buttons, you confirm the first step to execute the order. The respective direct trading partner now has to decide if it confirms this offer and if the order will thereby be executed. You can check the order status in your order book and enter a new quote request if you wish.

Should you have further questions about this, we are happy to be available to you here at any time.

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What is the difference between stock exchange trading and over-the-counter direct trading?

In stock exchange trading, you buy and sell on the stock exchange trading floors or via Xetra/Xetra2. In the process, the so-called stock exchange or Xetra fees will be charged in addition to the order free of EUR 5.90.

For over-the-counter direct trading, you will receive a price bid from the respective trading partner and you will decide whether you want to trade at this price or not. Since your order is not placed at the stock exchange this way, the stock exchange or Xetra fees will also not be charged. You will only pay EUR 5.90 plus outside charges.

Should you have further questions about this, we are happy to be available to you here at any time.

 

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What happens if I have exceeded the permissible number of quote requests?

When you have exceeded the maximum permissible number of quote requests in direct trading, without having executed any transactions in the meantime, you will not be admitted to direct trading again for this day.

In that case, you will have to divert to stock exchange trading.

For quote requests in direct trading, please use the queries via the quote windows (real-time price quotes) or our trading tool from now on..

The price quote function does not replace the real-time price quotes and it must not be misused for such purposes. Please only use the quote request if you actually have a true interest in concluding a transaction in over-the-counter direct trading.

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What happens if an order is executed for which the price was quoted incorrectly by the trading partner?

If a trading partner erroneously makes an incorrect price bid due to a technical fault or operating mistake, which differs substantially and obviously from the price in line with the market at the time when the transaction materialises (mistrade), the trading partner will have a contractual right to withdrawal/annulment. In that case, flatex will also be entitled to withdraw from the contract with the customer. No further claims of the customer are established against flatex or the relevant trading partner based on such a reversal.

We have compiled the mistrade rules and contact details of the trading partners for you here .

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Which trading hours apply in OTC direct trading?

You can find the trading hours of our direct trading partners here.

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Which papers can be traded in OTC direct trading?

In OTC direct trading, you can trade more than 100,000 certificates and equity warrants over the counter directly with our trading partners.

Furthermore, 1,000 stocks can be traded OTC.

The order fee is respectively EUR 5.90 per order including all fees. 

Find more information under over-the-counter direct trading.

 

 

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How many quote request do I have available?

The number of quote requests in direct trading depends on various factors such as the trading partner, the market situation or quote request frequency. The number is currently between 25 and 50 quote requests. However, this can be changed at any time.

 

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Foreign trading
Ist der Handel mit Pink Sheets möglich?

Seit dem 01.10.2017 wird der Handel mit sogenannten Pink Sheets durch die flatex Bank AG nicht mehr angeboten. Eine Übersicht zu den betroffenen Wertpapieren finden Sie unter US Pink Sheets Liste Gattungen mit Lagerstellen und Bearbeitungsgebühr ab 01.01.2018.

 

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Why am I unable to trade a paper abroad that has been transferred to you?

If you transfer a security to us that you have purchased through your broker to date, we will always receive it by delivery to the domestic depository. This means for you that you can then only sell this security in Germany through us. To be able to trade it abroad again, you would need to order a change of depository. We will be happy to send you the form by  email. Please note in this regard that this change is subject to costs and that we will charge a fee of EUR 65,90 (EUR 5,90 plus EUR 60,00 processing fee) per class for this service.

A change of depository takes about 1 to 2 weeks and the security cannot be traded during this time. 

 

 

 

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Which stock exchanges abroad do I have available and what are their respective trading times?
Stock exchangeTotal price per orderTrading times (CET)
NYSE Alternext US (formerly Amex, USA)from €15.90 plus exchange fees by SellingMondays - Fridays 3:30 PM to 10:00 PM
NASDAQ OBB (OTC OBB) (USA)from €15.90 plus exchange fees by SellingMondays - Fridays 3:30 PM to 10:00 PM
Toronto (Canada)€15.90 flatMondays - Fridays 3:30 PM to 10:00 PM
Euronext Brussels (Belgium)€15.90 flatMondays - Fridays 9:00 AM to 5:30 PM
Euronext Lisbon (Portugal)€15.90 flatMondays - Fridays 9:00 AM to 5:30 PM
Euronext Paris (France)€15.90 flatMondays - Fridays 9:00 AM to 5:30 PM
Euronext Amsterdam (Netherlands)€15.90 flatMondays - Fridays 9:00 AM to 5:30 PM
Milan (Italy)€15.90 flat only Selling possibleMondays - Fridays 9:00 AM to 5:30 PM
Vienna (Austria)€15.90 plus exchange fees Mondays - Fridays 9:00 AM to 5:30 PM
Zurich (Switzerland)€15.90 plus exchange feesMondays - Fridays 9:00 AM to 5:30 PM

 

 

 

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Which limit types do I have available at the foreign stock exchanges?

The following limit types can be configured for foreign stock exchanges:

Limit, Stop Market and Stop Limit:Nasday OTC BB
Limit and Stop Limit:Toronto, TSX Venture Exchange, NYSE, NASDAQ
Limit, Stop Market and Stop Limit:Euronext (Amsterdam, Paris, Lissabon,Brüssel) and Xetra Vienna 

 

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Which U.S. stock exchanges are available for trading?

Regardless of the stock exchanges indicated for U.S. titles, purchases are possible exclusively at the following stock exchanges:

  • NYSE
  • NASDAQ
  • OTC BB

If a stock exchange other than the ones listed above is chosen, a notice will inform you that a purchase at this stock exchange is not permissible.

 

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What is the conversion rate for a foreign currency?

For orders that are entered at a German stock exchange, flatex Bank AG receives  the FX rate delivered from Clearstream and passes it on 1:1 to the customer.

For orders that are not placed on a German stock exchange or with a capital investment company (CIC),  the current and continuously updated FX inter-bank exchange rate is the basis for the settlement price. The bank charges a margin on this price. You can see how much the margin is in the individual currencies in our current list of prices and services.

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Exchange trading
Why do I have to enter a limit for some orders?

Buy orders for securities with a stock price of less than EUR 1.00 are accepted only if a limit is entered.

In principle, limits are always required for buy orders for equity warrants and certificates (also if prices are above  EUR 1.00). The stop-buy limit type is available only, however, if the limit value is above EUR 1.00.

Should you have further questions about this, we are happy to be available to you

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Investment funds and savings plans
What is maximum amount for which savings plans can be set up?

Savings plans can generally be set up for unlimited amounts, provided the respective security so permits.

The maximum debit amount for savings plans with debit from the specified reference account, however, is EUR 1,000.

 

 

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Is there a minimum withdrawal amount for a withdrawal plan?

Similarly as for the minimum investment amount for a savings plan, the minimum withdrawal amount for withdrawal plans is EUR 50.
For the withdrawal plan, order fees are charged fro ETF.

 

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Is there a minimum amount for savings plans?

Fund and ETF savings plans can be set up from a minimum amount of EUR 50.

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Can I trade fractions of a fund?

Fractions (shares < 1.0) can only be traded via the capital investment company.

 

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Can I change/suspend a savings plan?

Existing savings plans can be changed, deleted or also merely suspended under the menu item “Trading” under  “Savings and withdrawal plan” at any time after logging in to

your Web Branch.

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Can I have profit distributions be reinvested automatically in the fund?

Yes, you can submit an order for automatic reinvestment from a disbursement amount of EUR 25. You can revoke this order at any time online in your Web Branch.

 

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Can I also request a debit from my filed reference account for my savings plan?

In the course of opening a savings plan, you can also order debits from the reference account you have specified.

 

For this purpose, the debit account can be changed from the flatex cash account to the reference account in the input mask.

 

 

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Why am I unable to transfer money even though sufficient capital is displayed to me?

If your savings plan is debited from the specified reference account, the counter value of this savings plan is blocked for 5 days as direct debit security. Through this block, your available capital reduces, which is why, for example, it can also be displayed as a negative amount.

 

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Why has the counter value of my savings plan been debited from my flatex cash account, although I had requested the debit from my specified reference account?

If the debit from a specified reference account is chosen when the savings plan is set up, we will debit the counter value of the savings plan always only on the value date of the savings plan transaction.

Until that date, the counter value from the flatex cash account remains blocked.

 

 

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Why has my savings plan order not been executed yet?

Savings plan orders are always summarised with other orders for the same class into one so-called block order and this block order will then be transmitted to the relevant capital investment company.

 

We will then have to wait for a so-called confirmation, meaning a confirmation from the capital investment company that this order has been executed.
By means of the confirmation, the price and values a given to us.

 

It usually takes 1-3 days to execute the block order by the capital investment company.

 

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What are ATC fees?

As part of an ETF savings plan, the ETF shares are not purchased directly at the stock exchange or from the capital investment company but on a secondary market (over-the-counter trading) of a counterparty. 

Depending on the ETF, the counterparty settles differently, at the NAV (net asset value) rate of the capital investment company plus an ATC fee.

The NAV rate is determined by the capital investment company once daily in the regular case.

The ATC fees represent the so-called additional trading costs, which are charged directly by the capital investment company. These fees, however, are not charged separately but these are included directly in the price as part of an order via flatex.

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What fees are incurred for a fund order?

You generally have the option to trade an investment fund via the capital investment company, direct trading or a stock exchange.

For a purchase via the capital investment company, you usually receive a discount from us of 50% on the regular issue surcharge. No other order fees are incurred. The sale of a fund (except for ETF) via the capital investment company is free of charge.

On a purchase or sale via the stock exchange or in direct trading, order costs according to our list of prices and services are charged. The issue surcharge does not apply here.

 

 

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How much are the fees for savings plan transaction?

The fees for a savings plan transaction according to our list of prices and services is EUR 0.90.

Savings plans of the issuers X-tracker, Lyxor and Comstage can currently not be provided for saving free of charges at this time.

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How much are the fees if I do not purchase a fund or ETF through a savings plan?

Should you purchase an ETF outside of a savings plan from the capital investment company or order a sale through the capital investment company, fees according to our list of prices and services will be charged in the amount of EUR 5.90.

For a fund order through the capital investment company, the issue surcharge will be incurred, which we will discount however by 50% in the normal case.

For fund or ETF orders through OTC and stock market trading, the regular trading fees according to our list of prices and services will be charged.

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How do I set up a savings plan?

When you log in to your Web Branch via the customer login and, under the main menu item “Trading”, select the submenu item “Savings and withdrawal plan”, you can trigger a savings plan being set up.

Please always ensure sufficient cover for the savings plan transaction that is to be debited from your cash account. If it should not be possible to debit a savings plan transaction due to a lack of cover, the savings instalments will simply be suspended for one month and then be resumed in the following month.

 

 

 

 

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Where can I find values that are compatible with a savings plan?

On our website under the menu item “Trading” and further under the submenu item “Funds & ETFs”, you can use our fund finder to filter for values that are compatible with savings plans. 

You have the option here by means of the expanded search to find values of particular issuers.

 

 

 

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CFD trading

Do you have questions regarding CFD orders, order supplements and limit types, subsequent contribution obligations and margin calls or any other questions regarding CFD trading?
General information about CFD trading
From when can I use the CFD account?

As soon as you have been activated by flatex Bank AG for CFD trading, you can access the CFD application via your closed customer area.

To start the CFD trading , we recommend making an initial deposit of EUR 1,000.00. Of course, you can instead also transfer a corresponding desired amount from your cash account to your CFD transfer account. As soon as your CFD account is capitalised, you can begin CFD trading.

Should you have further questions about this, we are happy to be available to you here at any time.

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Are account fees charged for the CFD account?

No, because no account management fees are incurred for the CFD account as also applies for all other accounts that you maintain at flatex. In case the account is inactive, no fees will be charged to you either.

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Does access via a WLAN connection work?

WLAN can be used with the 802.11b (11MBit) -  802.11a (54Mbit) - or 802.11g (54 Mbit) - standard protocol. Newer WLAN protocols can also be used if the end devices used with them support this.
Please note in this regard that WLAN connections can also run unstably and that difficulties might potentially arise in the data transmission, for example, when entering passwords.

This can even go so far that your CFD account will be blocked because your entry was evaluated as a failed attempt due to the long transmission time for your password.

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Are there mistrade rules in CFD trading as well?

Yes, in the same way as in trading at the stock exchange, the high standards of German banking apply to trading contracts of difference. You can read up on the mistrade rules on our website under the menu item “Service” along with the forms .

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Are there CFD for which the market maker does not provide any rates?

The market maker provides tradable rates for all contracts of difference offered on the CFD trading platform. Please note that when placing orders in less liquid stocks CFD, the available volume on level 1 is not always sufficient to execute the number of issues that you request to complete extent. Market orders are executed on the basis of the volume-weighted average stock price. Partial executions are not made.

By placing a limit order, you can prevent that your order will be executed at a lower stock price than the one displayed on level 1. Execution will follow then as soon as the volume on level 1 is sufficient.

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Can my authorised representative also trade CFDs for me?

Participation in CFD trading is permissible exclusively for account holders of a personal account, as you are moving in a highly speculative and extremely sensitive segment of securities trading here. No authorisation can be issued for it.

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Can I test CFD trading without commitment?

Since CFD trading is a very sensitive securities trading field, we give you the opportunity to test the trading platform without commitment and free of charge with our CFD demo account. For this purpose, we provide you with EUR 50,000.00 “gambling money”. To sign up for a CFD demo account, simply click here.

 

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Can I conduct a technical analysis by means of the chart tool?

Yes, the chart tool offers you various possibilities for conducting technical analyses.

For example, you can select the most important indicators, oscillators and studies in the chart window. If you would like to receive more information on the topic of “technical analysis”, you can watch a training video free of charge on our homepage. You can find it under “Academy -> Training videos -> Platform videos”. 

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Are my deposits protected in CFD transactions?

Deposit guarantee for CFD trading is also provided by flatex Bank AG.
Additional information about this can be found in the FAQ: “Are my deposits with you protected?" 

Should you have further questions about this, we are happy to be available to you here at any time.

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When is the flat rate withholding tax being considered?

The flat rate withholding tax is considered on the cash account after your position/positions are squared on the business day. For these postings, not the CFD transfer account is addressed so to avoid, e.g. jeopardising open CFD positions. 

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When does an automatic close-out take place?

An automatic close-out takes place, as soon as the free capital falls below EUR 0.00 or when the total capital (sum of margin and free capital) is less than EUR 0.00.

Should you have further questions about this, we are happy to be available to you here at any time.

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Why is the DE30 quotation temporarily different from the DAX?

To identify the DE30 quotation, the DAX future has been adjusted for the financing costs that are included in the future. This way approximately the stock price level of the DAX30 results again. The development of the DE30 thus also always depends on the development of the DAX future. The price of the DAX future is furthermore determined by supply and demand. This way, also  discrepancies between the DAX future /DE30 to the DAX30 can arise in exceptional situations, e.g. highly volatile market phases.

The price of the DAX future is calculated as follows: DAX30 + hypothetical financing costs according to the money market level until the expiration date of the future. Therefore, the price of the DAX future is normally always higher than that of the DAX30. However, the financing costs reduce during the term, so that the difference also reduces each day. The price of the DE30 is adjusted for the relevant financing costs. This also means that the DAX future and the DE30 are identical on maturity.

Should you have further questions about this, we are happy to be available to you here at any time.

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What is the margin and how is it calculated?

The security deposit that must be paid when opening a position is referred to as the margin. It is an amount in the account currency that is deducted from the available capital and reserved for keeping the position. When the position is closed, the current corresponding amount will be released again. The margin rate is specific to the instrument and stated in percent. This percentage rate decides how much margin is required for entering a position.

Here is an example demonstrating the ratio:

You would like to buy 1 DE30-CFD. The DE30 contract is traded, for example, for buying at 7,000 points (equivalent of €7,000).  The margin rate of the DE30-CFD currently amounts to 5 %. This means for your order that you have to raise 5 % of the actual investment sum to build up the desired holding.

Calculation:
7,000 × 5 % = 350 (equivalent of €350.00)
If a transaction was executed in this hypothetical scenario at 7,000 points, €350.00 would be deducted from the free capital in the customer account and it would be shown as the margin. Please notice in this respect that the free capital and also the margin develop dynamically according to the development of the position.

Please note that the margin will increase to the overnight margin 15 minutes before the close of trading on the relevant contract. After the start of trading, it will be reset to its original value.

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What are lending costs?

Lending costs for CFD short positions: For CFD short positions, lending costs may be incurred in % p.a. of the contract volume. Lending costs depend on the possibilities of the market maker to find hedging in the market. 
Lending costs may also be subject to strong fluctuations but they amount to max. 100% p.a.
The current lending rates can be found in the respective instrument overviews. 

In general, however, the provisions contained in the Special Conditions for CFD Trading apply of course..

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Which types of orders can I enter?

Orders can be placed as buy (long position) or sell (short position).

It is possible to place orders as market order, limit order or stop order.

If an order is entered as a market order, it will be executed immediately at the next trading price during the regular trading hours of this market.

Limit orders will be executed only when the respectively defined stock price level is reached.

A stop order becomes a  market order when the previously defined stop level was reached. The so-called “triggering” triggers the stop and executes the order as a market order.

The take-profit order supplement helps you realise profits when a certain stock price level is reached.

Furthermore one cancels the other (OCO) and if-done orders are offered.

 

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What order fees do you charge?

For trading stocks CFD, order fees of 0.05% of the respectively traded volume are charged, whereas at most EUR 5.00.

The order fees (either the percentage rate, but the minimum fee in any case) are charged on the transaction volume per executed order, meaning for each purchase and sale.

You can find the currently valid fees in the supplementing list of prices and services for the participation in CFD trading. These are available on our website under the menu item “Service” along with the forms .

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What risks does CFD trading harbour?

• In CFD trading, you enter a high financial risk up to total loss. 

• By means of leverage effect, the risks are higher than in the base value.

• Furthermore, there are risks due to the high volatility. 

• For instruments that are not denominated in EUR, there is an additional exchange rate risk. 

• Losses can also be caused from overnight gaps (price spurts).

You can find more information on our website at www.flatex.de under the menu item “Service” – Submenu item “Forms”“In supplementation for CFD trading” in the document: “Important Information on Loss Risks in CFD Trading.”

 

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Who is the counterparty in CFD trading?

The counterparty/market maker in CFD trading is Commerzbank.

You can find information about Commerzbank directly on the relevant website.

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Are the financing costs considered in the calculation of the flat rate withholding tax?

Financing costs are considered in the assessment of the flat rate withholding tax. You can view the relevant postings via the homepage in the tax postings of your closed customer area. 

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How can I open a CFD account?

So that we can activate you for CFD trading, you need to keep a cash account at flatex Bank AG. If you have not opened such an account yet, you can do so on our homepage www.flatex.de by clicking the “Open account” button.

The is for the reason that the CFD account is settled (charge for the flat rate withholding tax/deposits) via your cash account at flatex Bank AG.

When opening the account/securities account, simply specify that you would like to be activated for CFD trading.

If you maintain an account/securities account with flatex Bank AG, you can open a CFD account in your closed customer area under the menue "Service", then submenue "Investment Objectives". Please note that the risk class “E” and the participation in the trading of complex financial instruments are prerequisites for CFD trading.

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How do I transfer money to the CFD transfer account?

You can execute transfers to your CFD transfer account exclusively from your cash account. The transfer will be made in real time, i.e. you will have the amount transferred from the cash account to the CFD transfer account available immediately for CFD trading.

Please note: Generally between 11:30 PM and about 2:00 AM of the following day, maintenance work is carried out on the CFD platform.

To execute a carry-over, you need to click on the CFD tab in your personal customer area where you will then have the possibility within the upper area that is marked in grey to enter a carry-over.

 

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How do I transfer money from the CFD transfer account to the cash account?

You can exclusively execute transfers from your CFD transfer account to your cash account. The transfer is made in near time, which means the amount transferred from the CFD transfer account to the cash account will be available to you for securities trading within a few minutes.                

To retransfer money from your CFD transfer account to your cash account, please go to the tab with the personal details and your account number on the CFD trading platform, click on “Transfer” and enter the desired amount.

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What is the effect of a dividend payment at the base value on my CFD position?

If you hold a long position for a domestic CFD on the dividend date after the close of trading (in an instrument in which dividends can be considered), you will get a dividend compensation payment in the amount of 85% for this CFD.

Due to the different tax laws of the respective countries, you will receive a credit note for 85% of the paid out dividend on the dividend payment date if you hold a long position on a foreign contract on the dividend payment date. For US values, the position is always closed.

 If you hold a short position, you will be charged 100% on your CFD transfer account.

Voting rights cannot be exercised or requested with a CFD. There is furthermore no right to participate in general shareholders’ meetings. 

 

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FX trading

Do you have questions about swaps, tradable currency pairs, the trading platform or the FX demo account? Find the answers to the most important and frequently asked questions related to FX trading below.
General information about FX trading
From what point onward will I incur swap fees?

All positions that are held overnight, thus, such that stay open after 10:59:59 PM, are subject to a financing interest rate, the “FX Swap”.

It will be positive or negative depending on the position type and currency pair.

You will receive a respectively updated list for this. 

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Does flatex offer an expert advisor and how can you connect it to the MT4?

Flatex itself does not offer any expert advisors or any services for these.

Connecting an expert advisor is possible. To do so, please contact the respective provider, who will explain the possibilities for installation and the use in more detail to you.

The internet offers a vast amount of information about and providers of expert advisors.

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Is there a commission or transaction fee?

We do not charge any commissions or other fees for trading. We exclusively receive our income from the stock price differences between the buying and selling rate (spreads).

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In what currencies can live/demo accounts be maintained?

At our institution, you cannot maintain an account in a foreign currency. The accounts are denominated in EUR. The same way in which you trade a position (currency pair) into another currency, it will be converted into EUR again after the position is closed.

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Can a US citizen participate in FX trading?

No, participation in FX trading is unfortunately not permitted to US citizens for legal reasons.

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Can I increase my practice money on the demo account if I have used it up?

Increasing the practice money on the demo account is not possible. However, you can simply open a new demo account on the platform.

To do so, please click on the menu item “File” in the Meta Trader and then select the submenu item “Open account”. (Opening a DEMO account is mentioned here.) After the data is entered and the amount of the “gambling money” selected, you can use the further demo account. 

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Can you provide a market order with a stop/loss or take/profit?

A market order is placed immediately on the market and can only be provided in retrospect with a stop/loss or take/profit.

There are different ways to record these limit types in retrospect.

You can, for example, double-click the open position – place the double-click for a stop/loss or take/profit in column S/L or T/P of the open position.

For a pending order, you can enter a stop/loss and/or a take/profit during the opening process (order entry). 

Should you have further questions about this, we are happy to be available to you here at any time.

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Can I get a display of the account history in the flatex fx Trader?

You can call up the “Terminal” window from the “View” menu. You have the option here to select the “Account history” tab. Once done, you can right-click in the Terminal and select the respective period for display in the menu here.

Should you have further questions about this, we are happy to be available to you here at any time.

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When is the Forex market open for trading?

Trading begins on Sunday at 11:00 PM and ends on Friday night at 11:00 PM. Before or after the daylight savings, trading hours can shift by one hour, as trading takes place in the time from Sundays 5:00 NY time until Fridays 5:00 NY time. Since the daylight savings time change is not made on the same date, deviations occur in 2 to 4 weeks a year.

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When and how can I reach Customer Service?

Our customer hotline +49 (0)9221 7035 – 898 can be reached from Mondays to Fridays 8:00 AM to 10:00 PM. You will be asked for your customer number and telephone password at this fixed-phone number. Please keep this data on hand.

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What happens on a margin call or liquidation?

A margin call can occur and the transactions made can develop contrary to your expectations. Notice will be given as soon as the liquid capital galls below the sum of the lodged margin (collateral security). So that we can also send you the notice, please always keep your filed email address updated.

As soon as the amounts paid-in previously are used up and you do not pay in any further sums, individual or all positions can be liquidated due to insufficient capitalisation (free margin less than EUR 0.00).

Should you have further questions about this, we are happy to be available to you here at any time.

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What risks are harboured by FX trading?

• You enter a high financial risk up to total loss in FX trading

• By means of leverage effect, the risks are higher than in the base value

• You are exposed to the exchange rate risk.

• Furthermore, there are risks due to the high volatility.

• Losses can also be caused from overnight gaps (price spurts).

You can find more information on our website at www.flatex.de
via the menu item “Service” – Submenu item “Forms”“In supplementation for FX trading” in the document: “Important Information on Loss Risks in FX Trading.”

 

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Which are the most frequently traded currency pairs?

The most frequently traded currency pairs are

  • EUR/USD
  • GBP/USD
  • USD/JPY

These are also referred to as majors.

Should you have further questions about this, we are happy to be available to you here at any time.

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What is the rate that is shown in the chart?

Exclusively the BID rate is shown in the chart window of the flatex fx Trader. The ASK rate of a currency pair is displayed in the “Market” window. You can call up this window from the “View” menu item.

Should you have further questions about this, we are happy to be available to you here at any time.

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How much is the spread?

Flatex offers variable spreads to its customers by way of a direct conclusion at the inter-bank market. Foreign currencies, like many other commodities as well, are guided by the principle of supply and demand. Thus, wider spreads than usual can also occur in some phases. These depend on the exchange rate of the liquidity provider.

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How to install the platform?
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How can I close an order if the server connection is down?

This is can be done via our Customer Service. It is available for you in such cases from 8 AM to 10 PM by telephone at +49 (0)9221 7035 898. Please keep your customer number and telephone password on hand. 

 

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How can I get a display of my profit or loss?

You can call up the “Terminal” window from the “View” menu.

The relevant performance of the position will be displayed to you on the “Trading” tab in the “Profit” column.

You can select the item “Profit” by right-clicking in the “Terminal” window. There, you have the option to choose the display of the profit in points, as order currency (secondary currency) or as the original currency (account currency). 

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How can I place an order?

There are several options to place an order.

  •  Clicking directly with the right mouse button in the Chart window and selecting the item “Trading” - “New order”.
  • Double-clicking or single-clicking with the right mouse button (analogous process as in the previous item) on a currency pair in the “Market” window.
  • Right-clicking in the “Terminal” window and then on “New order”.
  • Selecting the item “New order” from the “Extras” menu.
  • Selecting “New order” button from the icon bar.
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How can I display and hide currency pairs in the flatex fx Trader?

Via the “View” menu, “Market” is called up first, which displays the individual currency pairs.

By right-clicking on the relevant currency pair, it can be displayed or hidden.

Furthermore, you can select the item “Symbols” by right-clicking in the field “Market” and customise which currency pairs are displayed.

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For how long is the demo account valid?

A demo account is valid for at most 90 days since the last login.

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How do you log in to a demo/live account?

Select “File” from the menu bar and then click on “Login”. Next, enter the account number and the password, and select the server from the Demo Server (flatex GmbH Demo Server) or flatex GmbH Server for live accounts.

 

 

 

 

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How much is a lot?

A standard lot comprises 100,000 units of the base currency (first quoted currency), thus 1 lot for EUR/USD is EUR 100,000.

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How many demo accounts can I open?

Any number of demo accounts can be opened.

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Is an account statement sent to the account holder?

The account statement is sent daily by email to the account holder, provided that the account holder has open positions or executed transactions.

If no transactions have been executed and if there are no open positions, no account statement will be sent. 

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Technical questions

Do you have questions relating to the technical aspects associated with our trading products? You can learn below how to create a screenshot, for example, and what technical requirements need to be satisfied in order to use our products.
General technical information
Is it not unsafe when I enter the complete telephone password on the telephone voice portal?

Through the introduction of our computerised phone system, we have provided a substantial simplification not only for our employees but foremost also for our customers. By identification and pre-selection of the topic using the dial on your phone, the responsible employee can be attributed more quickly and this enables a faster response to or processing of the customer query. We have moreover also been able to automate a few areas, e.g. password reset or placing a stock exchange order. This way, you no longer need to wait until an employee is available so that your matter can be processed. 

The data entered by you using the dial on your phone will be stored at neither flatex nor flatex Bank AG but locally on the telephone used by you. Accordingly, it is within your duty of care to delete these entries and respectively not make them accessible to third parties. The same duty of care applies to the confidentiality of the login password and the iTANCard.

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Why can I not access your page?

This problem usually occurs when you have made special settings for cookies/pop-up blockers.

Please adjust the settings of your browser so that it permits cookies.

Example Internet Explorer:

Extras >> Internet options >> Data privacy (please set the level to standard here)
Extras >> Internet options >> Security (please set the level to standard here)

We recommend that you regularly delete your cookies  and, if you have not done so already, deactivate the pop-up blocker for flatex.

You can configure the pop-up blocker in Internet Explorer as follows:

On any optional website, go to “Extras” -  “Internet options” - “Data privacy” - “Pop-up blocker settings”. Please specify the website here that is to be permitted (www.flatex.de) and click on “add”. Then, please confirm the entries in the “Internet options” window with ok. 

To delete cookies, please also go to “Extras” – “Delete browser history” and set the check-marks primarily on “History”, “Passwords” and “Cookies”. You can now confirm the process with “delete”. Now, please close all browser windows, and then restart your browser.

If none of the described measures lead to the desired successful outcome, please try to set the level for data privacy to “accept all cookies”.

 

In the Firefox browser, you can proceed as follows. 

Create history/Permit cookies: Menu item “Extras” - “Settings” - “Data privacy” - select “crate” in the field “History”.

We recommend that you regularly delete your cookies  and, if you have not done so already, deactivate the pop-up blocker for flatex.

You can configure the pop-up blocker in Mozilla Firefox as follows:

On any optional website, go to “Extras” - “Settings” - “Content”. When the “Block pop-up window” field is check-marked, you can add “Exceptions” by clicking the button behind it. Please specify the website here that is to be permitted (www.flatex.de) and click on “permit”.

To delete cookies, please go to “Extras” - “Delete recent history” and set the check-marks primarily on “History”, “Passwords” and “Cookies”. You can now confirm the process with “delete”. Now, please close all browser windows, and then restart your browser.

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What do I need to be able to trade online?

To be able to trade via flatex, you need:

  • a browser (minimum requirement Internet Explorer Version 6 or higher or Mozilla Firefox Version 2 or higher, local Java applets, permission for cookies and pop-ups)
  • Java Runtime Environment (JRE), the latest version is recommended. You can download it from  www.java.com, the minimum requirement for the  Java version is 1.6.0_07.
  • For the display on the screen, a resolution of 1,280 x 1,024 pixel is recommended
  • For reading and printing the PDF formats, you require Acrobat Reader. If it is not installed on your computer, download it from www.adobe.de.
  • To print forms, you require a printer.
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Which security measures should I take myself for the online brokerage?

Please always handle your access data (customer number, login, telephone password and iTANCard) with extreme care. Please do not keep this data freely accessible and do not carry them with you in writing. Please do not note down any personal data and passwords on the iTANCard. Do not select passwords that are easy to guess and change them immediately when you fear there is abuse. 
In this context, please observe the general security rules of the Federal Association of German Banks regarding online banking security:

• Protect sensitive data in the transmission via open networks.
• Assure yourself of whom you are dealing with.
• Handle sensitive data and access media with care.
• Select a secure password.
• Only use programs from trustworthy sources.
• Use up-to-date program versions.
• Conduct a security check on your PC.
• Activate the security settings of the browser.
• Use virus scanners and additional security software.
• Make regular backups of your data.

The complete Online Banking Security brochure – information and security rules for online baking users – can be ordered from the Federal Association of German Banks via the website www.bankenverband.de (link to external website) or be downloaded from there as a PDF.

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How can I create a screenshot?

In Windows, screenshots can be created simply by pressing the Print button (Print Screen or Print Scrn).

On some notebooks where “Paste” and “Print” occupy the same button, the Fn button must first be pressed and kept down in addition. In the process, always an image of the whole screen will be placed in the clipboard from where it can be exported to most image processing programs (in Windows, for example, open Microsoft Paint and copy the cached screenshot by clicking on the right mouse button and “paste” it or copy it into the program by means of the key combination Ctrl+P).

Moreover, you can copy the window that is active at the moment as a graphic to the clipboard in Windows using the key combination Alt+print and then paste it directly into an empty Word file or directly into the text field of an email message.

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How can I get a display of the securities account transactions in an Excel table?

So that you can export your securities account transactions into an Excel table, you need to call up the securities account transactions in the closed customer area.

Now please click on the “Export table as CSV file” button, which can be found at the top right side above the posting information (next to the printer icon).

Then, you can supplement the  Excel file that is opening for your own purposes and then save it.

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How do you ensure security at your end?

The access to your cash/securities account via the internet is possible only with a combination of customer number (user ID) and personal login password.

In addition, transactions must be confirmed by entry of the iTANCard via your closed customer area. The iTANCard combinations serve as a precaution to defend against fishing by virtue of their random composition.
In addition, a secure encrypted connection (SSL) is used during your online access to your cash/securities account, and transfers are possible only to your specified reference account.

For one thing, the security needs of the customer are considered this way and for another thing, the cash account and securities account can be accessed as conveniently as possible – which is to say, from any optional computer anywhere in the world.

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Taxes

Do you have questions about taxes and anything associated with taxes? You will find the answers below.
General information about taxes
Does the first-in first-out rule also apply at flatex?

Yes, of course the first-in first-out rule also applies at flatex.

Issues of securities with the same securities identification number, which were purchased first (first-in) will be sold first from the securities account in terms of tax regulations (first-out).

You can therefore not pick the issues of an asset class that are to be sold in the case of a sale. These will always automatically be the oldest ones.

So that a separation of the issues that are exempt from and those that are subject to the flat rate withholding tax can be made, please open a new cash/securities account and have the issues that can be sold exempt from taxation be transferred by means of a securities account transfer . In a securities account transfer as well, the older issues will be transferred first.

Should you have further questions about this, we are happy to be available to you here at any time.

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What data does the bank use to calculate the flat rate withholding tax on securities transactions?

The basis of all calculations is the so-called WM data (reference to securities notifications of the WM Data Group)

The WM Data Service, Frankfurt, (WM), offers a comprehensive financial database with integrated data/information on more than 300,000 financial instruments that are used by the credit industry for the processing of securities transactions. The Federal Ministry of Finances has decreed that the institutes must adopt the data published by WM for the withholding of capital gains taxes.
The WM database is filled with the information provided by the issuers of the securities.
Changes and/or belated publications made by the issuers in the WM data, which have effects for the customer in terms of taxes, are considered by the bank on the value date when notice is taken.

Should you have further questions about this, we are happy to be available to you here at any time.

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When will the flat rate withholding tax be withheld?

The flat rate withholding tax applies to all income resulting from private capital assets (e.g. interest income, income from bonds or debentures, dividends, income from investment funds or forward transactions, etc.)
Furthermore, the tax on profits from private sales transactions (if the relevant paper was purchased after 01.01.2009) is incurred.


Risk certificates are a particularity in terms of this general statement.

The following transition rule should be noted here:

  • Purchase date before 15.03.2007 and sale or maturity after expiration of the speculative period > tax-free without limitation.
  • Purchase date between 15.03.2007 and 31.12.2008 and sale or maturity after 01.07.2009 >  inflow is subject to the flat rate withholding tax.
  • Purchase after 01.01.2009 > inflow is generally subject to the flat rate withholding tax.

 

Should you have further questions about this, we are happy to be available to you here at any time.

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What is the flat rate withholding tax?

As of 01.01.2009, the flat rate withholding tax covers private capital gains (e.g. interest) in Germany. The flat rate withholding tax rate is set consistently at 25% plus solidarity surcharge of 5.5% on it in addition. Church tax is withheld automatically as of 01.01.2015 and paid to the religious congregations charging the tax. 

The income tax is generally settled by the deduction for taxes and nothing needs to be stated in addition on the income tax return. 

Should you have further questions about this, we are happy to be available to you here at any time.

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Are the transaction fees considered in the tax calculation?

The transaction costs reduce the tax assessment base for capital gains. The expenses in direct substantive connection with a sales or forward transaction, e.g. incidental purchase costs and costs of sales (transaction costs) must be considered for tax purposes. The transaction costs are figured into the statement of sales that is made available to you on the next day.

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Are knocked-out equity warrants also considered for taxes?

If an equity warrant that was purchased after 01.01.2009 is charged off, it is decisive for the loss set-off if a residual value is delivered by the issuer: If the equity warrant is charged off without residual value, a set-off for taxes is not possible. If the equity warrant, however, is charged off with a residual value (even if it is merely one-tenth of a cent), a tax set-off against losses will be made.

In a charge-off without value, you can try to have the loss be considered in your income tax statement. We are unfortunately unable to tell you if your tax office will recognise the loss. For this purpose, please submit the statement of purchase and the notice of the charge-off.

If a sale after the knock-out should still be possible on the issuer’s side, you will receive a statement of sale and flatex Bank AG will offset the loss in that case.

Should you have further questions about this, we are happy to be available to you here at any time.

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How are the tax postings documented for me?

You can view each tax transaction after logon on the tab “Cash account and securities account” - “Tax postings”. Your  current tax balance will also be shown to you here. By entering a date or transaction number, you can search specifically for postings.

In addition, you will be provided with a tax report each quarter in your archive. This tax report is not a tax certificate in the definition of the German Income Tax Act.

For customers, who attribute their cash account and securities account balances to their private assets, the tax report provides the respectively updated data in the following areas during the year:

  • Stock loss bucket
  • Capital gains subject to tax after offsetting against the stock loss bucket
  • General loss bucket
  • Capital gains subject to tax after offsetting against the general loss bucket
  • Exemption order
  • Attributable foreign tax at source (max. 25% of capital gains)
  • Withheld capital gains tax
  • Withheld solidarity surcharge
  • If applicable, withheld church tax

For customers, whose cash accounts and securities accounts are attributable to business assets, a shortened tax report will be prepared.
No tax report is prepared for cash accounts and securities accounts of incorporated companies.

Should you have further questions about this, we are happy to be available to you here at any time.

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Exemption order / non-assessment certificate
From when on is my exemption order effective?

The exemption order will always become effective as soon as the application is filed in our system.

If you submit the application online, it will take effect on the next day due tot he overnight processing of your input.

At year’s end, a tax optimisation will be carried out by flatex Bank AG. Any exemption amounts that are still to be offset will be offset against any already withheld flat rate withholding tax, so that a tax refund will be granted as the case may be.

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The tax office has repealed my non-assessment certificate with immediate effect. How do I now get it back from flatex Bank AG?

flatex Bank AG will of course return your non-assessment certificate to you if we receive the original copy of a written order for this that is signed by you.

Please send the formless letter to flatex Bank AG, Magazinstraße 2 in 08056 Zwickau.

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For which cash/securities accounts does the exemption order apply?

The exemption order filed by you always applies to all cash accounts and securities accounts that are held in your name at flatex Bank AG.

In the case of a joint account of married spouses, both account holders must issue the exemption order. Should there also be personal accounts of the married spouses, the exemption order will also apply to these accounts.

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How can I file a non-assessment certificate at flatex/flatex Bank AG?

So that your non-assessment certificate can be considered, please send us the original of the non-assessment certificate.

This transmission can be done formlessly with specification of your customer number.

Please send your non-assessment certificate to the following address:
flatex Bank AG
Magazinstraße 2
08056 Zwickau.

Please note that the non-assessment certificate will be retained by the bank and not send back.

Should you have further questions about this, we are happy to be available to you

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How can I file or change an exemption order?

To submit/change your exemption order, please log in and then click on the tab “Settings” - “Personal ”.

You can now enter a new exemption order here or change an already existing order.

Please note that the information in the application (single or married) must be consistent with the master data given to us, as the system would otherwise declare your application to be incorrect in terms of content and it would accordingly not accept it.

If your master data changes in consequence of marriage or divorce or similar, you have to inform us beforehand of these changes using the form “Change of customer master data” . Please enclose a copy of the marriage or divorce certificate.   Only once your new marital status is entered, it will be possible for you to change your exemption order online.

In alternative, you can also send the exemption order by post to flatex Bank AG, Magazinstr. 2, 08056 Zwickau. 

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Will my exemption order be deleted automatically on the closing of the cash/securities account?

On the closing of a cash/securities account, your exemption order will be reduced to the utilised amount and limited until 31 December of the current year, if you do not maintain any further cash/securities account at flatex Bank AG.  Thus, you can designate the amount that was not utilised in the year when the account was deleted for another bank as the case may be.

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Where can I see if my non-assessment certificate has been filed with you?

After your valid non-assessment certificate was received and processed, you can view it in your closed customer area. To do so, please click on the tab “Settings” and call up the submenu item “Data & applications” .

Should you have further questions about this, we are happy to be available to you here at any time.

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Where can I see in what amount I have issued an exemption order and how much of it has already been utilised?

You can view the amount of the issued exemption order and the portion potentially utilised of it in your Web Branch.

To do so, please go to the tab “Settings” - “Personal data” after the login. The originally issued amount and the portion already utilised of it will be displayed to you here.

Should you have further questions about this, we are happy to be available to you here at any time.

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Church tax
Can I send you the data of my religious denomination for the church tax deduction?

No, we are not permitted to consider the religious denomination data sent by you. We may only use the church tax criteria of which the Federal Central Tax Office informs us.

Should you have further questions about this, we are happy to be available to you here at any time.

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When will the church tax deduction criterion be queried?

Between the 1st of September and the 31st of October of any year, we will query the church tax deduction criterion (KiStAM) from the Federal Central Tax Office by specifying your Tax ID. The KiStAM is always applicable for the following year.

If you do not agree with the automatic payment of due church taxes, you can object to the transmission of your religious affiliation to us from the Federal Central Tax Office. To do so, please send the statement on the blocking notice directly to the Federal Central Tax Office by the 30th of June in any year. The church tax will then not be withheld until further notice in the next year.

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Was ist bezüglich des automatischen Kirchensteuerabzugs zu beachten?

Die Kirchensteuer auf abgeltend besteuerte Kapitalerträge (z.B. Zinsen) wird seit dem 01.01.2015 automatisch einbehalten und an die steuererhebenden Religionsgemeinschaften abgeführt.  

Für Angehörige einer steuererhebenden Religionsgemeinschaft teilt das Bundeszentralamt für Steuern (BZST) das „Kirchensteuerabzugsmerkmal“ (KISTAM) mit. Das KISTAM gibt Auskunft über die Zugehörigkeit zu einer steuererhebenden Religionsgemeinschaft und den gültigen Kirchensteuersatz. 

Eine unterjährig über das BZST übermittelte Änderung des KISTAM kann grundsätzlich immer erst zum 01.01. des Folgejahres berücksichtigt werden.

Hierzu können Sie eine Anlassabfrage in Ihrer WebFiliale unter dem Menüpunkt „Service“ und dann Untermenüpunkt  „Kirchensteuer“ durchführen.

Ist für Sie beim BZST hinterlegt, dass Sie keiner kirchensteuererhebenden Glaubensgemeinschaft angehören, ziehen wir keine Kirchensteuer ab.

Möglicherweise zu viel oder zu wenig gezahlte Kirchensteuer kann nur über die persönliche Veranlagung erstattet bzw. erhoben werden.

 

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What is an automatic church tax deduction?

The church tax on capital gains for which the flat rate withholding tax is charged has been withheld automatically since 01.01.2015 and paid to the religious communities that levy the tax.

For members of a religious community levying taxes, the Federal Central Tax Office (BZSt) reports the “Church tax deduction attribute” (KISTAM).

The KSITAM specifies the membership in a religious community levying taxes and the valid church tax rate. The basis of the data exchange follows from Sec. 51a (2c) German Income Tax Act.

Conclusion:
If you are liable for church tax, we will pay the church tax share of your flat rate withholding tax automatically for you to the tax office.

 

 

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What do I have to do when I am not a member of any religious community?

If you are not a member of any religious community, no church tax will be withheld for you. You do not need to do anything in that case.

 

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What happens if I leave the church during a year?

The key date for our query with the Federal Central Tax Office is always 31st of August. The church tax criteria that are sent to us by the Federal Central Tax Office for this key date apply for the church tax deduction in the following year.

In case you leave the church after 31st of August or shortly before then, the Federal Central Tax Office cannot take your exit into consideration anymore.

This might entail that we will receive your “old religious affiliation data” and therefore pay the church tax.

You can receive a refund for these taxes through your tax return. In the next year, we will then automatically consider that you have left the church.

 

 

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How much is the church tax and what assessment is at its basis?

The church tax rate in Bavaria and Baden-Württemberg is at 8% and 9% in the other federal states. Since the church tax can be deducted as special expense on your tax return, the banks will then calculate only with a tax rate of 24.45% (for 9% church tax) or a tax rate of 24.51% (for 8% church tax) instead of 25% capital gains tax.

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Is the automatic church tax deduction also made for joint accounts of married spouses?

Yes, a deduction of the church tax is of course also made for joint accounts of married spouses, provided that a joint exemption order is filed. Church tax has been withheld automatically and paid to the religious congregations charging the tax since 01.01.2015. 

Here, a ratio of 50:50 is assumed automatically for the distribution of assets. 

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Is the automatic church tax deduction also made for other joint accounts?

No, an automatic deduction of the church tax is not possible for these unfortunately. 

Please contact your tax adviser for more detailed questions on your personal tax situation. 

Should you have further questions about this, we are happy to be available to you here at any time.

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Non-resident taxpayer
To what extent am I affected by the flat rate withholding tax as a non-resident taxpayer?

Through the introduction of the flat rate withholding tax on 01.01.2009 in Germany, the following general rules apply to non-resident taxpayers:

In spite of the generally limited tax liability as a non-resident taxpayer, no tax is deducted for the flat rate withholding tax in the cases of Sec. 43 (1) sent. 1 nos. 6-12 EStG [German Income Tax Act] new version. Among these are, e.g. securities sales.

This excludes the deduction of capital gains, which was made at the issuer’s side (tax at source) as it is obligatory for German dividends. These withheld tax amounts cannot be refunded.

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Wann wird die Quellensteuer erhoben?

Bei Dividenden- und Zinserträgen aus ausländischen Wertpapieren fällt in der Regel eine ausländische Quellensteuer an. Diese kann sich aufteilen in anrechenbare und rückforderbare Quellensteuer. Die anrechenbare Quellensteuer wird auf die deutsche Abgeltungssteuer angerechnet. Beträgt die ausländische anrechenbare Quellensteuer z. B. 15 %, werden nur noch 10 % deutsche Abgeltungssteuer einbehalten. 

Die rückforderbare Quellensteuer können Sie in der Regel nur über die ausländische Steuerbehörde direkt zurückfordern. Nähere Informationen finden Sie auf der Seite des Bundeszentralamtes für Steuer www.bzst.de

Die Vorabbefreiung für die rückforderbare Quellensteuer stellt die konto- und depotführende Bank leider nicht zur Verfügung.

 

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Warum ist mir als Steuerausländer die Abgeltungsteuer belastet worden?

Auf Dividenden von deutschen Aktien fällt auch bei Steuerausländern die deutsche Kapitalertragsteuer sowie Soli-Zuschlag an, da es sich um eine sog. Quellensteuer handelt. 

 

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What does CRS and FATCA mean?

CRS (Common Reporting Standard) is a multilateral agreement between multiple states. The objective is a worldwide automatic exchange of information relating to financial data of natural persons and legal entities, who are liable for taxes in the signatory states of the agreement concluded. 

FATCA (Foreign Account Tax Compliance Act) regulates the information procedure about cash account and securities account holders in the USA.

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What does CRS and FATCA mean to me as a customer?

flatex Bank AG must review whether you, as a cash account or securities account holder, are liable for taxes in the USA or in one of the CRS partner countries. If you are liable for taxes, we are obligated to report your data to the Federal Central Tax Office. 

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What data is passed on to the Federal Central Tax Office?

The following data will be passed on to the Federal Central Tax Office:

• Name, address, date of birth, tax identification number
   (TIN) of the account holder
• Account number and account balance/value at year’s end
• Gross interest and dividends
• Total gross income from sales

Should you have further questions about this, we are happy to be available to you here at any time.

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How does the voluntary financial disclosure work?

As the account holder, you will declare on a standardised, personally signed form whether you are liable for taxes in the USA or a CRS partner state. The voluntary disclosure is valid for an unlimited period if you tax residency has not changed. 

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Loss baskets
For whom are loss buckets being maintained?

Loss buckets are maintained for all private customers  (personal accounts and joint accounts of married spouses) and other private persons including partnerships not operating commercial business.

Maintaining loss buckets for corporations is not permissible. The same applies to losses of commercial investors and partnerships operating commercial business, in particular commercial partnerships.

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I have more than one account at flatex. Is a loss set-off made across the board?

If you hold several accounts with us that have the same account designation, profits and losses of all cash accounts and securities accounts will be offset against each other.

Personal accounts will only be offset against  joint accounts of married spouses  if an exemption order was issued. 

 

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In what order are profits and losses offset for tax purposes?

On realisation of a loss, initially the paid flat rate withholding tax will be refunded. Any potentially existing exemption order will be revived again thereupon and the corresponding loss bucket will then be filled.

On realisation of a profit, a set-off is first made against the corresponding loss bucket. Any potentially existing exemption order will then be considered and the flat rate withholding tax plus solidarity surcharge and church tax, if applicable, will only be deducted thereupon.

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Can I have legacy losses registered with the tax office be transferred to flatex to thereby achieve an immediate set-off against profits?

Unfortunately, this approach is not possible.

Legacy losses can only be offset against future profits in your tax return. Regarding any possibly applicable deadlines, please consult your tax adviser. 

If you have postings at our institution that are relevant in terms of taxes, you will automatically receive an annual tax certificate from flatex Bank AG as a copy that will be filed to the archive in your closed customer area. This is usually done in the course of the 1st quarter of the following year..

You can request the original in your closed customer area under the “Settings” menu item. You can submit this certificate together with your income tax return to the tax office. 

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Can I have the losses be carried over to the next year directly at flatex Bank AG?

If you do not request a loss certificate  by 15 December, the losses will be carried forward to the next year and offset automatically against future profits.

Should you have further questions about this, we are happy to be available to you here at any time.

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When are profits and losses offset?

At flatex Bank AG, profits and losses of securities that have been purchased after 01.01.2009 are offset against each other on a continuous basis. If you, e.g. realise a profit and then execute a loss transaction, you will receive a refund for the flat rate withholding tax that has been paid. You can track this by means of your securities bought/sold notes and your tax postings.

Should you have further questions about this, we are happy to be available to you here at any time.

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Was ist das Investmentreformgesetz?

Zum 01.01.2018 ist die Reform der Investmentbesteuerung, in Kraft getreten.

Alle Investmentanteile (Fonds und ETFs) werden nun nach der gleichen Systematik besteuert. Für alle Investmentanteile-Typen wird die gleiche Systematik der Besteuerung angewendet. Es gibt keine Unterschiede mehr in der Besteuerung von ausschüttenden oder thesaurierenden, in- oder ausländischen Investmentanteilen.

Bei einer Veräußerung ab 01.01.2018 ändert sich die bisherige Ermittlung des Veräußerungsergebnisses, da die Bereinigungsgrößen,

  • Zwischengewinn
  • Immobiliengewinn
  • akkum. Altveräußerungsgewinn
  • akkum. Substanzausschüttung
  • bereinigter ausschüttungsgleicher Ertrag

entfallen.

Im Rahmen dieser gesetzlichen Neuregelung gelten alle Investmentanteile zum 31.12.2017 als verkauft und zum 01.01.2018 als neu angeschafft. Die dafür erforderlichen Kurse erhalten wir von den Fondsgesellschaften. Dabei wird ein „fiktives“ Veräußerungsergebnis berechnet. „Fiktiv“ deshalb, weil kein tatsächlicher Verkauf der Anteile und keine tatsächliche Gutschrift auf Ihrem Verrechnungskonto erfolgt.

Der Bestandsschutz für Investmentanteile, die vor dem 01.01.2009 gekauft wurden fällt durch den fiktiven Verkauf weg. Aus einem Altbestand wurde durch die fiktive Veräußerung ein Neubestand. Entstand bei dem fiktiven Verkauf bei Altbestand ein Gewinn, bleibt dieser steuerfrei Gleiches gilt für einen fiktiven Verlust aus der fiktiven Veräußerung. Alle Veräußerungsgewinne für ehemalige Altbestände, die ab 2018 entstehen, werden künftig besteuert. Zum Ausgleich kann für diese ehemaligen Altbestände einen Freibetrag über 100.000 Euro je Steuerpflichtigem genutzt werden. Allerdings kann der Freibetrag nur über die Steuererklärung geltend gemacht werden. 

Als ein weiterer Punkt ist die Teilfreistellung zu beachten.

Die Teilfreistellung ist bei Erträgen, bei Verkaufserlösen ab 01.01.2018 und bei der Vorabpauschale ab 01.01.2019 in folgender Höhe anzusetzen: 

Mischfonds mit 15 % Teilfreistellung 

Aktienfonds mit 30 % Teilfreistellung 

Immobilienfonds mit 60 % Teilfreistellung 

Immobilienfonds Ausland mit 80 % Teilfreistellung 

Sonstige Fonds mit  0 % Teilfreistellung 

So vermindert die Teilfreistellung die Bemessungsgrundlage für die Steuer. Die Teilfreistellung kommt noch vor der Berücksichtigung von Verlusten im Verlustverrechnungstopf (Verlustverrechnung) und dem Freistellungsantrag für die Steuerberechnung zum Tragen.

 

 

 

 

 

 

 

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Which loss confirmations do I receive from flatex and what do I need them for?

Since 2009, losses have been automatically carried forward to the new year and confirmed on your request. The application for a loss confirmation must be received by flatex Bank AG at the latest by 15 December.

It must be differentiated between the following loss confirmations in this respect:

  • Confirmation of stock losses
  • Confirmation of other losses

The confirmation mentioned first contains only the amount of the losses that you have incurred from transactions (only new cases) with stocks. 

The second confirmation contains the amount of the losses that you have incurred in all transactions (only new cases) with securities that are not stocks. These include, for example, equity warrants, certificates, funds, bonds, etc.

A loss confirmation is required if you would like to have the losses incurred at our institution be offset on your income tax return against profits earned at other banks.

If you request a  loss confirmation, the corresponding loss bucket at flatex Bank AG will be set to zero in the beginning of the next tax year and the loss confirmation will be sent to you by mail in early January.

Should you have further questions about this, we are happy to be available to you here at any time.

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General shareholders’ meetings and corporate measures

Are you looking for answers to questions related to general shareholders’ meetings and corporate measures? Answers to the most important questions on these topics are shown in the following overview.
General information about general shareholders’ meetings and corporate measures
Kann ich an einer ausländischen Hauptversammlung teilnehmen?

Zu Hauptversammlungen ausländischer Aktien können wir leider keinen Service zur Verfügung stellen. Um dennoch an einer Versammlung teilnehmen zu können, wäre die Erstellung einer Depotbestätigung möglich. Für diese wird gemäß unseres Preis- und Leistungsverzeichnisses eine Gebühr in Höhe von 5,90 EUR erhoben.

 

 

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Can I also have the new stocks kept in custody separately from my legacy holdings?

It is no problem  to have the new stocks kept in custody separately from the legacy holdings. If you already have a second securities account, simply instruct flatex Bank AG to repost the old issues to the other securities account as part of an internal securities account transfer. Since the FIFO principle (first-in first-out) applies in general, please simply indicate the number of your old issues on the form. Because these have been purchased first,  these will also be transferred first.

This way, you will then have the legacy holdings in your second securities account and the new issues will be in the other securities account.

If you do not have a second securities account, simply go to our website and open a second one in the manner analogous to opening your first securities account. Since your identity has already been validated, it is  sufficient if you note your current customer number on the documents.

If you wish the separation by old and new holdings already before the new shares are allocated, please simply instruct flatex Bank AG by means of a securities account transfer to repost the subscription rights to your new securities account. The new stocks will generally be posted to the securities account that also holds the subscription rights. The subscription rights, however, will be posted automatically to the securities account that also holds the old issues.

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Warum habe ich für meine Namensaktien keine Einladung zur Hauptversammlung erhalten?

Zu Namensaktien werde die Informationen zur Hauptversammlung direkt von der Aktiengesellschaft versandt. In diesem Fall ist die Bestellung der Eintrittskarten auch direkt über die AG notwendig.

 

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Was bedeutet Trenn- und Bezugsverhältnis?

Das Trennverhältnis gibt an, wie viele Bezugsrechte im Verhältnis zu den "alten", d.h. im Bestand befindlichen Aktien ausgegeben werden. Ein Trennverhältnis von 1:1 bedeutet demnach, dass Sie für eine alte Aktie ein Bezugsrecht eingebucht bekommen.

Das Bezugsverhältnis gibt wiederrum die Relation zwischen der Anzahl der Bezugsrechte und der Anzahl der bei der Kapitalerhöhung zu beziehenden jungen Aktien an. Beispiel: Bezugsverhältnis: 2:1 heißt, dass Sie für 2 Bezugsrechte eine neue Aktie erhalten.

 

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What happens if I do not use the subscription rights and do not want to subscribe new shares?

If you do not want to use the subscription offer, you can sell the subscription rights yourself on the stock exchange during the subscription rights quotation.

If you do not do anything, the bank will sell your subscription rights in the best possible way for you on the last trading day (if trading takes place in this asset class) and it will credit the counter value to you cash account.

Important: On the last trading day, the subscription rights can no longer be freely traded but they will be blocked by the bank for realisation (sale)!

Should you have further questions about this, we are happy to be available to you

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Will my securities be blocked if I have requested admission tickets to the general shareholders’ meeting?

The issues will not be blocked, as attendance of the general shareholders’ meeting is dependent on the so-called record day (21 days before the meeting) .

To be able to attend a general shareholders’ meeting, you need to have the shares in your holdings on a certain date (record day) . After this date, the sale of the securities will be possible.

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How is the number calculated for new stocks?

If a subscription ratio, for example, of 15:10 is prescribed and you have 20 stocks in your holdings, the calculation is as follows:

20 stocks divided by 15 results in 1.33. Since, however, no fractions are considered, it is always rounded down to the next absolute number, thus 1 in our example.
This result is now multiplied by the second term of the subscription ratio, and this is how you receive the number of new stocks that would be in your entitlement for the participation in the capital increase.
1x10 =10 new stocks.

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How can I participate in a corporate measure?

As of immediately, you can also give instructions for corporate measures by means of the Web Branch.
Initially supported are the business cases “Capital increase against cash” and “Cash compensation”.
More business cases will be made available additionally in the near future.

If you have selected the Online Archive as mailing method and stored an email address, you will from now on also receive an email that informs you of a corporate measure for which you can give an instruction. In the Web Branch under “Settings”,  you can see the stored email address and also update it there at any time.
If you have agreed on mailing by post, you will receive the information by letter.

Regardless of the mailing method chosen by you, be it Online Archive or mailing by post, an instruction voucher will be entered in your Online Archive in the future as well, so that you can also issue an instruction in writing if necessary. In that case, you will need to fill out the instruction form that is saved in your archive and send it signed by post to the following address:

flatex Bank AG
Hammfelddamm 4
41460 Neuss

In alternative, you can also fax it directly to flatex Bank AG for orders that are critical in terms of time.

Fax no.: 02156 – 4920 – 319

Please consider that you cash account must have the corresponding cover, as the bank will dispose over the money to execute your instruction.

 

 

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How can I bring along a person to accompany me to a general shareholders’ meeting?

Bringing along an accompanying person is generally possible. Please make an accordant note on the admission ticket request.

We need the name and address of your accompanying person and a mailing address to deliver the admission tickets. The costs per ticket amount to EUR 5.90 (incl. VAT).

Please print out the admission ticket order from your online archive, sign it and send it to:

flatex Bank AG
Hammfelddamm 4
41460 Neuss

Please also note on the request whether a voting right is to be assigned to your accompanying person and, if so, at what ratio.

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How can I order admission tickets for a general shareholders’ meeting?

Registered shares

  • If your stock holdings are registered shares, you will always receive information about a general shareholders’ meeting directly from the stock company (AG) and, in that case, you also have to send the request for the admission tickets directly to the stock company.
    All details required for this will be made available to you directly by the stock company.
     

Bearer shares

  • If your stock holdings are bearer shares, the information on the general shareholders’ meeting will be entered in your online archive.

    You can then place the request for admission tickets directly online. To do so, please go to the tab “Service” - “General shareholders’ meetings”.

    The costs per ticket amount to EUR 5.90 (incl. VAT).

    Please note in this regard that this can only be initiated personally by the respective cash/securities account holder.
    A representative cannot place a request.

    If you have chosen for your securities account that documents be sent by post, you will be sent the information on the upcoming general shareholders’ meeting and the form for requesting tickets by post. For this, the usual fees of EUR 2.55 will be charged to you. In addition, a further copy of the form for requesting tickets will be stored in the document archive.

Foreign securities

  • No data whatsoever relating to upcoming general shareholders’ meetings is transmitted to us from the depository for foreign stocks. This is also the reason why we also do not provide any information to the customers affected.

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What is the process of a corporate measure?

In the first step, you will receive a securities account notification that will be entered in your archive, whereby you will be informed about the upcoming corporate measure. This document is simultaneously the instruction form.

flatex Bank AG will enter the subscription rights to your securities account in parallel to this process. You can use it either for the instruction of new stocks (by means of the instruction form) or simply sell it at the stock market. If you do not want anything of the kind, the bank will sell the subscription rights in the best possible way for you  on the last trading day of the subscription rights (if trading takes place; otherwise, the subscriptions will be charged off at no value).

If you exercise the subscription rights for the instruction of new shares, please send the instruction to the bank and the bank will consider it accordingly (please ensure sufficient cover on your account).

In the further course, the new stocks will then be entered to your securities account upon completion of the corporate measure.

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How is the sale of subscription rights and new shares resulting from a corporate measure taxed?

The subscription rights adopt the purchase date of the original stock holding and the value of the subscription right is assessed at EUR 0.

The subscription rights sales proceeds are  tax-free if it relates to a legacy holding of shares (purchase before 01.01.2009).

For the new shares, in contrast, the date of the  capital increase applies as the  purchase date.

The proceeds from the sale of new shares will be subject to the flat rate withholding tax if they have been allocated after 01.01.2009. The reference stock price is assumed as the subscription price, so that only the difference between the reference stock price and the stock price on the sale must be taxed upon a sale.

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Lombard credit

Do you want to know how to apply for Lombard credit and what the requirements are for the extension of this type of credit? Find answers related to this and other important questions regarding Lombard credit below.
General information about Lombard credits
From what amount is interest incurred?

Loan interest is of course only charged for the amount drawn down.

For intraday trading, no debit interest is incurred if the account has a credit balance in value at the end of the day after the close of all transacted securities trades.

 

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Does flatex offer Lombard credits and, if so, how do I request such?

Of course, you can also request a so-called Lombard credit (margin loan) from us.

To apply for a Lombard credit, you need to log in to your Web Branch and click on “Credit” where you will have  the option under “Lombard” to apply for a Lombard credit online:

Please fill out the application completely  online.   flatex Bank AG will be sent your data automatically online. After a successful review and processing of your credit application, the credit contracts will then be entered in your online archive.  

Please print them out and send one original copy of them with your signature to the address of flatex Bank AG specified in the contract. As soon as flatex Bank AG has received the contract, your Lombard credit will be granted to you and you can dispose over it immediately.

A fee for the processing of your credit request will of course not be charged.

 

 

 

 

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I have more than one account. Why can I only dispose over the loan on one of them?

The Lombard credit is always only disbursed to one specific account. This means that you have to file a separate credit application for each cash account and the credit sum will be determined by the value of the related securities account. It is not possible that all securities accounts are viewed jointly and that the credit is provided in total sum on one cash account.

For example:

Securities account A has a collateral value of EUR 10,000.00 and the collateral value of securities account B is EUR 15,000.00.

You can now request a loan for EUR 10,000.00 for cash account A and a loan for EUR 15,000 for securities account B. A loan for EUR 25,000.00 that is to be disbursed to one of the two cash accounts is not an option even though your total assets would permit for such.

Since, however, you can transfer funds between the two cash accounts at any time (provided that the account holder is one and the same person) and as these funds are entered to account immediately, this does not represent a disadvantage for your financial leeway.

 

 

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Can the bank cancel the loan?

It is correct that flatex Bank AG has a right to cancellation at any time. However, it will not exercise this right without prior announcement.

Before a loan is in fact cancelled, you will be granted grace periods by a number of warnings, during which you will have time to provide supplementing collateral, transfer deposits or reduce the negative balance on your cash account by sales.

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Can you also transfer a margin loan?

Of course, we can discharge an existing securities credit  maintained at a third bank  in the process of a securities account transfer. The following conditions must be fulfilled for this purpose:

  • We must have received a filled out securities account transfer form and an application for a Lombard credit. We must be given the address and contact person of the third-party bank where the credit is to be discharged.
  • We require a detailed, current securities account overview including any collateral values and current credit line drawdowns from the third bank. The credit amount to be discharged should be confirmed to us by the bank in writing or by fax.
  • We require a confirmation of the transferring bank that the securities holdings remain blocked there and that they cannot be sold while we process the new credit application at our institution.
  • If the credit can be approved by us in the requested amount, we require the signed credit documents to be returned to us before we can open a credit line.
  • Before the credit will be discharged,  we first need a confirmation from the present bank that the securities holdings, which have been previously confirmed to us, will be transferred immediately against the receipt of money.

 

 

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Why can I not dispose over the approved credit total?

If you have a Lombard credit, you will have it available in the approved amount. However, please notice that you can always only dispose over the portion of the credit that is in fact hedged by the collateral value of the securities held in your securities account. Since the collateral value can change on a daily basis, also your actual credit line may deviate from the approved credit total.

An automatic increase of the credit beyond the requested sum is not possible, even if your collateral value exceeds it. To receive a higher credit line, please submit a new credit increase application in the manner analogous to the initial application.

For example:

You have a Lombard credit in the amount of EUR 50,000.00. The collateral value of the securities held in your securities account currently amounts to EUR 35,000.00. Accordingly, you can dispose over a credit line of EUR 35,000.00. If your collateral value increases to EUR 40,000.00 through purchases or stock price improvements, you can dispose over a credit line in the amount of EUR 40,000.00. 
 

 

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How can I increase an existing Lombard credit?

To receive an increase on a Lombard credit, please proceed  in the manner analogous to the new credit application. For this purpose, please fill out the complete application for an increase online in your Web Branch. Please note in this respect that you need to enter the new total credit amount and not the value by which you want to increase the existing credit.

A loan agreement from flatex Bank AG will be entered subsequently to your online archive. You will need to return the signed original copy.

 

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How is the total credit sum determined?

To determine the maximum sufficient credit line total, your current securities account volume will be examined in consideration of the respective loan limits for the individual securities.

Loan limits for Lombard credit

Federal treasury notes and financing treasury bonds
Pensions with top-grade rating, money market funds
in EUR (without convertible/exchangeable notes and options bonds,
index certificates, bonds with right to offer sale
up to 70%
Pensions in EUR with good to very good rating
(without convertible/exchangeable notes and options bonds,
index certificates, bonds with right to offer the sale of stocks),
open-ended real estate funds and pension funds
with securities account currency in EUR
up to 60%
Pensions with average rating
(without index certificates, bonds with right to offer the sale of stocks),
stocks of the EURO STOXX 50 and/or DAX 30, DAX 100,
EU standard stock funds, money market, pension or
open-ended real estate funds in other securities account currencies than EUR
up to 50%
Pensions with weak/moderate rating, stocks that are listed in
the common stock indices (without EURO STOXX 50 and/or
DAX 30, DAX 100, MDAX), stock, mixed and other funds
in EUR, closed real estate funds
up to 30%
Foreign small-cap stocks, high-risk bonds,
funds, emerging markets funds
up to 30%

Should you have further questions about this, we are happy to be available to you here at any time.

 

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Frequently asked

How are the tax postings documented for me?
How can I transfer a cash account and/or securities account to flatex?
From when can I use the CFD account?
Why is the DE30 quotation temporarily different from the DAX?
For how many securities is it possible to display price quotes at the same time?
Can I test CFD trading without commitment?
Do I also get real-time price quotes from foreign stock exchanges?
Are there mistrade rules in CFD trading as well?
How can I open a CFD account?
How do I change my reference account?
Nein Danke