N26 announced the launch of a new Stock and ETF trading product, allowing all account holders to buy and sell stocks and ETFs for €0.90 per trade directly in the N26 app. The German digital banking pioneer N26 is set to enhance its service offerings through a partnership with Upvest. It marks a significant expansion in N26‘s product range, bringing it close to the market leader Revolut.
Features of N26’s New Trading Platform
N26‘s new trading platform will allow all its account holders to engage in stock and ETF trading at a cost of 0.90 EUR per trade. A standout feature of this service is the provision for fractional investing. This approach enables customers to invest in partial shares of some of the most sought-after European and U.S. assets in the global equity markets, with investments starting as low as 1 EUR.
Initial Rollout and Expansion Plans
The trading feature’s initial rollout begins today in Austria, offering eligible customers an early version of the service. This preliminary phase includes fractional investing in over 100 ETFs. In the coming months, N26 aims to broaden the asset range to over a thousand stocks and ETFs. The service will extend to customers in Germany and Austria initially, with plans to gradually introduce it to additional markets.
Valentin Stalf’s Vision for N26
Valentin Stalf, CEO of N26, envisions this new offering as a comprehensive financial management solution within the N26 app. Following the launch of N26 Instant Savings and N26 Crypto, the addition of N26 Stocks and ETFs aims to provide customers with a unified platform for spending, saving, and investing. Stalf emphasizes the competitive rates, absence of hidden fees, and an exceptional user experience as key benefits.
Strategic Shift Towards Profitability
This expansion of services is part of N26‘s strategic move to achieve monthly profitability within the year. Having retracted from its ventures in the U.S., UK, and Brazilian markets, the digital bank is now refocusing its efforts on continental Europe. The introduction of stock and ETF trading represents a significant step in broadening its product range and enhancing its appeal to a wider customer base in its core markets.
Key Take Away
N26‘s foray into the stock and ETF trading arena signifies the digital bank’s commitment to providing a diverse range of financial services under one roof. By integrating this new offering with its existing suite of products, N26 is poised to offer its customers a more holistic financial management experience, aligning with its goal of streamlined, efficient, and accessible banking solutions.
