Trade Republic, the largest savings platform in Europe, today launches its services in the Republic of Ireland. Residents of Ireland can now use the Trade Republic app or website to jump-start their wealth creation journeys with secure, easy and commission-free access to capital markets. Trade Republic’s core product, ETFs and stock savings plans, will help the Irish to save up for retirement and with lower risk.
In Ireland, the average household currently saves 20 percent of their income, most of which sits idly in bank accounts. On top of that, residents of Ireland are still facing high brokerage fees or are getting offered difficult to understand investment products. Trade Republic has set out to change that.
Since 2015, the company has built a financial offering from scratch with an easy-to-use product everybody can afford, so everyone can start putting their money to work. Trade Republic does not charge its customers any order commission, there is just one euro of external fees to cover clearing and settlement, regardless of the size of the order. Savings plans for stocks and ETFs are offered completely free of charge.
Irish customers have access to a total of over 8,000 Irish, European, Asian and US stocks and 1,100 ETFs, real-time data, price alerts, a wide range of different order types and extended trading hours, from 7:30am to 11:00pm. Savings plans, with which users can automate investing in the stock markets, are available for over 3,600 stocks and ETFs.
“Inflation in the eurozone has risen sharply – this should be a wake-up call for all Europeans,” says Christian Hecker, Co-Founder of Trade Republic. “All Europeans need to have access to capital markets to start fueling long-term investing, participate in economic growth and ultimately save-up for retirement. We built Trade Republic to enable them to do exactly that, and have now opened our doors to a total of seventeen markets, so Europeans everywhere can finally take their personal finances into their own hands.”
With inflation being at almost nine percent in Ireland, there really is no alternative to investing,” says Hugo Suidgeest, Country Manager of Trade Republic in Ireland. “Everyone who leaves their money just sitting in their bank account will lose purchasing power year over year, and the state pension – even if you work until 70 years of age – will probably not be enough to keep up your lifestyle.”
The Trade Republic account can be opened in the app as well as on the desktop in just a few minutes and is possible for adult users who are both fiscally and physically resident in Ireland with a smartphone (with iOS or Android operating system), a European telephone number and a SEPA bank account.
To change the financial system, Trade Republic has built a financial offering from scratch since 2015, with an easy-to-use product everybody can afford. With more than €1.3bn in venture capital investments by Sequoia, Peter Thiel’s Founders Fund or most recently Ontario Teachers’, Trade Republic will continue to strongly invest into further growth, to expand its offering and launch new products to empower all Europeans to create wealth. Trade Republic is combining the security needs of a highly regulated environment such as the financial industry with the flexibility and customer centricity of a high-tech platform. Besides Ireland, Trade Republic is today also expanding its services to Belgium, Estonia, Finland, Greece, Latvia, Lithuania, Luxembourg, Portugal, Slovakia and Slovenia. The company is now present in a total of 17 European countries, reaching 340 million people.