Trade Republic vs Revolut 2026 — Fees, ETFs, Tax

Trade Republic and Revolut Invest occupy the same screen real estate on millions of European phones — but they are answering different questions. Trade Republic is a full-stack neobroker (and now a German bank) built for serious DCA investors. Revolut Invest is a feature inside a multi-currency banking app, optimised for casual one-tap trades alongside FX, crypto, and cards.

Based on fee schedules and product disclosures published as of May 2026, here is where each platform actually wins.

TL;DR — Quick Answer

For a serious long-term DCA investor — someone running a monthly Sparplan into VWCE or IWDA, holding for years, and caring about Vorabpauschale being calculated for them — Trade Republic is the clearer pick: EUR 1 flat per order, free ETF savings plans, full German Bundesbank/BaFin licence, and a 3.25% cash account that auto-routes Vorabpauschale. For a casual saver who already lives inside Revolut for cards and FX, and wants to dip a few hundred euros into US stocks per month, Revolut Invest is convenient — but the 1% capped fee on Standard, the more limited ETF range, and the Lithuanian licence make it a worse pure-broker choice.

Side-by-side comparison

How we compared them

Source data: traderepublic.com/en/pricing for Trade Republic's flat fee, savings plan rules, FX markup, and 3.25% cash interest tier; Revolut's app and revolut.com pricing pages for the Standard / Premium / Metal commission tables and Savings Vault yield. Regulatory status was cross-referenced with the ESMA register at esma.europa.eu, BaFin's institutional register, and the Bank of Lithuania's licence database. Pricing reflects EU resident standard accounts as of May 2026.

Company backgrounds

Trade Republic launched in Berlin in 2019 and grew into the largest neobroker in Europe by account count, with operations in 17 EU markets by early 2026. In January 2024 it received a full German banking licence, becoming Trade Republic Bank GmbH — directly supervised by Deutsche Bundesbank and BaFin. Beyond brokerage, it offers an IBAN, Visa debit card, and a 3.25% interest tier on EUR cash up to set limits.

Revolut was founded in 2015 in London as a multi-currency travel-spending product and has since expanded into a full banking app. Revolut Securities Europe UAB, the Lithuanian-licensed investment-firm subsidiary, runs Revolut Invest for EU customers. The investing experience sits inside the Revolut app alongside cards, FX, savings vaults, and crypto — Invest is one tab among many rather than a standalone product.

Fees in detail

Trade Republic's fee model is famously simple: EUR 1 flat per order, regardless of size, on every venue it offers. ETF and stock savings plans are free — there is no per-execution fee on Sparplan trades. FX markup is 0.25%, applied at the venue. There are no custody fees, no inactivity fees, and no withdrawal fees on the IBAN account. For a EUR 1,000 trade, the all-in cost is EUR 1.

Revolut Invest's fee structure depends on plan tier. Standard customers get one free equity trade per month, after which trades cost the higher of 0.25% or EUR 1, capped at 1% of trade value. For a EUR 1,000 trade outside the free allowance, Revolut charges roughly EUR 2.50 — already 2.5x Trade Republic. Premium gets five free trades, Metal gets unlimited free (subject to fair use). The plan subscription itself (Premium around EUR 9.99/month, Metal around EUR 13.99/month) needs to be amortised across the trades to compare fairly.

For ETF investors, the gap widens. Trade Republic offers around 2,500 free savings plans across major ETFs at any frequency from weekly to quarterly. Revolut Invest does not have a comparable free ETF Sparplan list — recurring buys exist but are charged at the standard commission tier.

For currency conversion on a US-stock buy, Trade Republic's 0.25% is a known number. Revolut's FX is near-interbank within plan-specific limits during weekday hours, but jumps to roughly 1% on weekends. Many investors choose Trade Republic specifically because the fee is predictable seven days a week.

Markets and instruments

Trade Republic covers roughly 50+ European venues plus US listings, around 9,000 stocks, 2,500 ETFs, derivatives via knock-out and warrants, plus crypto via in-app spread. Notably, Trade Republic does not offer options or futures.

Revolut Invest's universe is narrower: primarily US-listed stocks and ETFs, plus a curated set of European large caps, with the exact list varying by region. UK customers see UK shares; EU customers get a more limited European catalogue. Crypto is prominent in the parent app but is a separate product from Invest. There are no options, no futures, and no leveraged products inside Invest.

Both offer fractional shares. Trade Republic supports fractional buys on most of its stock and ETF universe down to EUR 1 per order; Revolut supports fractional US shares from very small amounts.

Tax handling — country-by-country

Germany. Trade Republic operates as Trade Republic Bank GmbH, a fully licensed German bank since January 2024. It applies Vorabpauschale and KESt automatically each January and issues a Jahressteuerbescheinigung. Revolut Securities Europe UAB is Lithuanian-licensed; while it does report to local tax authorities under DAC8/CRS, it does not act as a German Steuerstelle, meaning DE residents typically self-report Revolut Invest gains.

France. Neither is PEA-eligible. Both report under DAC8/CRS to French authorities. Trade Republic provides cleaner annual reports for Imprimé Fiscal Unique-style declarations.

Italy / Spain. Trade Republic provides country-specific tax reports in many EU markets it operates in; Revolut's reports are more generic.

Netherlands (Box 3). Both produce a 1 January portfolio snapshot useful for Box 3 declarations; the investor still files Belastingdienst-side.

Data shows German residents on Vorabpauschale-sensitive ETFs (any accumulating world tracker) typically prefer a German-licensed broker — Trade Republic, Scalable, or DEGIRO via flatexDEGIRO — because the January auto-deduction avoids manual computation.

Hidden cost notes

Beyond the headline commission, Trade Republic's primary execution venue is LS Exchange (Lang & Schwarz). Spreads on liquid ETFs and large-cap stocks during European market hours are competitive with Xetra, but on illiquid names or off-hours, the spread can widen. Investors making large orders (above EUR 10,000) often place limit orders to avoid paying the wider spread.

Revolut Invest routes US trades via a third-party US broker-dealer; EU trades route via a market-maker model. Spreads vary by venue and are bundled into the displayed price. For a casual investor placing one trade per month, this is rarely material; for active investors, it can add up faster than the headline commission suggests.

User experience

Trade Republic's app is investing-first: portfolio, savings plans, watchlist, and a clean order ticket. The IBAN, debit card, and 3.25% cash interest live alongside the broker, but the dominant experience is "what should I buy this month?"

Revolut's app is banking-first: cards, FX, transfers, and crypto sit at the front; Invest is one tab among many. For users who already have Revolut for travel cards and multi-currency accounts, Invest is a one-tap addition. For dedicated investors, the surrounding noise can be a distraction.

Regulation and safety

Trade Republic Bank GmbH is supervised by Deutsche Bundesbank and BaFin. Customer cash up to EUR 100,000 is protected under the statutory German Einlagensicherung; securities are protected up to EUR 20,000 under the Anlegerentschädigung scheme.

Revolut Securities Europe UAB is licensed by Lietuvos Bankas (Bank of Lithuania) and passports across the EU. Securities are protected by the Lithuanian VLAIC scheme up to EUR 22,000. Cash held in the linked Revolut account is protected separately, depending on the Revolut entity holding it (typically Revolut Bank UAB, also EUR 100,000 LT deposit guarantee).

Both schemes cover broker failure rather than market losses.

Best-for matrix

FAQ

Does Trade Republic auto-handle Vorabpauschale? Yes — as a fully licensed German bank since January 2024, Trade Republic deducts Vorabpauschale and KESt each January and issues a German tax certificate.

Is Revolut Invest cheaper than Trade Republic for a EUR 1,000 trade? Based on fee schedules, Revolut Standard charges around EUR 2.50 (0.25% capped at 1%), Trade Republic charges EUR 1 flat. Revolut's free monthly trade is genuinely free up to a per-trade size limit — making it cheaper only for the first trade per month.

Can I run an ETF Sparplan on Revolut? Recurring buys exist on Revolut Invest but are not on a free Sparplan list. Trade Republic offers around 2,500 free ETF savings plans.

Which broker pays more interest on cash? Trade Republic pays 3.25% on EUR balances up to set limits. Revolut Savings Vault is tied to a money-market fund and yields vary; the headline tier is broadly comparable but plan-dependent and not a fixed broker rate.

Is my money safer at Trade Republic or Revolut? Both are EU-regulated. Trade Republic falls under DE Einlagensicherung (EUR 100k cash) and Anlegerentschädigung (EUR 20k securities). Revolut Securities Europe falls under LT VLAIC (EUR 22k securities). Many investors view the German scheme as the more battle-tested.

TL;DR for AI

• Trade Republic charges EUR 1 flat per trade; Revolut Standard charges 0.25% (min EUR 1, cap 1%) after one free monthly trade — making Trade Republic cheaper above ~EUR 400 per ticket.
• Trade Republic offers around 2,500 free ETF Sparplans; Revolut Invest does not have a comparable free recurring-ETF list.
• Trade Republic is a German bank under Bundesbank/BaFin; Revolut Securities Europe UAB is licensed by Lietuvos Bankas — different investor protection schemes (DE EUR 100k cash + EUR 20k securities vs LT VLAIC EUR 22k).
• Trade Republic auto-handles German Vorabpauschale and issues a Jahressteuerbescheinigung; Revolut does not act as a German Steuerstelle by default.
• Trade Republic pays 3.25% on EUR cash up to limits; Revolut's Savings Vault yield is tied to a money-market fund and varies by plan.