Flatex

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flatex AG

logo
legal form Corporation
ISIN DE000FTG1111
founding 1999
Seat Frankfurt am Main , GermanyGermanyGermany 
management Frank Niehage (CEO) , Muhamad Chahrour (CFO)
Number of employees 532 (2019)
sales 132 million euros (2019)
Branch Financial technology , banking
Website www.flatex.com
As of December 31, 2019

The flatex AG is a listed German online broker and provider of financial technology , based in Frankfurt am Main . The company was founded in July 1999 and has several other locations in Germany (Andernach, Berlin, Zwickau, Kulmbach, Willich, Neuss, Düsseldorf) and Austria (Vienna). At the end of 2019, flatex had around 370,000 customers and processed around 12 million securities transactions.

Company history

Founded in 1999 as PRE.IPO AG, flatex AG entered the market in 2006 as an online broker. In summer 2009 the company went public as flatex AG, whereby the term “flatex” is a so-called suitcase word and is derived from the two words “flat” and “execution”. The customer pays a fixed amount for a securities transaction, regardless of the volume . In 2014 the company was renamed FinTech Group AG. In August 2019, FinTech Group AG was renamed back to flatex AG.

Acquisition of XCOM AG

The majority interest in XCOM AG, which was in 1988 as software and systems on the market, was acquired in March 2015 and on 31 August 2017 the flatex AG merged . With this acquisition, today's flatex Bank AG was also transferred to the flatex Group.

Acquisition of DeGiro BV

In December 2019, flatex AG announced the purchase of the largest Dutch online broker DeGiro . After the acquisition, Flatex plans to become the first and largest online broker in Europe and, by the end of 2020, will look after more than one million customers who carry out over 35 million transactions annually and a transaction volume of more than 200 billion euros.

Online brokerage

offer

The online brokerage business area forms the focus of the business activities of flatex AG. The customer pays a fixed amount for a securities transaction, regardless of the volume. With this price model, flatex abolished the volume-dependent price model for the first time in the German market. Flatex's offering, trading in shares, certificates, warrants, bonds, open-ended investment funds, exchange-traded funds (ETF), leverage products / exchange-traded products (ETP), contracts for difference (CFD) and foreign exchange (FX), is based on its own information "To active, well-informed traders who act independently". Advice is not offered.

Awards

Flatex describes itself as a "discount broker". The online portal broker-test.de named flatex “Fund & Certificate Broker of the Year 2017”. WirtschaftsWoche and the DKI (German Customer Institute) named flatex 2016 “Top Online Broker”. In 2018, flatex was named “Best Online Broker” by Handelsblatt for the sixth time in a row. In the test carried out by the magazine € uro am Sonntag, flatex took first place three times in the direct banking brokerage category, with “low costs” cited as the reason.

At € uro am Sonntag, flatex 2019 was the test winner for direct banks in brokerage. Börse Online named flatex the best ETF broker and best online broker for leverage certificates in 2020.

Negative interest

On March 15, 2017, flatex introduced a negative interest rate of 0.4 percent for all customers. This step was justified with the monetary policy of the ECB. flatex is the first financial services institute in Germany to charge negative interest rates from the first euro. At the same time, the open handling of negative interest rates was viewed positively and flatex CEO Frank Niehage was described in the press as "Germany's most honest bank boss". In October 2019, flatex increased this interest rate to 0.5 percent in line with the interest rate of the European Central Bank.

Deposit insurance

Flatex Bank takes over the banking services of flatex AG with a full banking license. Deposits of flatex customers are here through the legal deposit insurance as of June 2020 to a height of 100,000 euros per customer hedged .

Sponsorship activity

On June 29, 2020, flatex AG announced that it would be the main sponsor of the Bundesliga club Borussia Mönchengladbach for at least three years from the 2020/21 season .

Web links

Individual evidence

  1. ↑ a b Annual Report 2019 of flatex AG
  2. ↑ flatex generates three million . N-tv , accessed July 30, 2015.
  3. ↑ FinTech Group becomes flatex. flatex AG, March 16, 2019, accessed on August 26, 2019 .
  4. ↑ flatex AG: flatex becomes the European online brokerage champion with the acquisition of DeGiro. In: flatex.com. flatex takes over DeGiro, December 16, 2019, accessed on June 28, 2020 .
  5. ↑ Portrait flatex website.Retrieved on February 5, 2019.
  6. ↑ A discount broker that deserves the name flatex website. Retrieved February 5, 2019.
  7. ↑ Best online broker according to the Handelsblatt flatex website. Retrieved June 28, 2020.
  8. ↑ The best online broker for every type of investor boerse-online.de. Retrieved June 28, 2020.
  9. ↑ Karsten Seibel: The first bank demands penalty interest from everyone . welt.de, March 2, 2017, accessed on March 11, 2017.
  10. ↑ Broker flatex introduces penalty interest for private customers . In: faz.net, March 2, 2017, accessed March 11, 2017.
  11. ↑ flatex asks you to checkout . ( Memento from March 12, 2017 in the Internet Archive ) boerse.ard.de. March 2017, accessed March 11, 2017.
  12. ↑ Willi Haentjes: Penalty interest on parked money: Germany's most honest bank boss is unpacking . bild.de, April 4, 2017, accessed June 28, 2020.
  13. ↑ flatex introduces new custody fees on securities . finanzen.net, January 14, 2020, accessed on January 14, 2020.
  14. ↑ flatex FAQs : All about accounts and custody accounts / Are my deposits secured with you?
  15. ↑ Flatex will sponsor Borussia Mönchengladbach in the future. Retrieved July 2, 2020 .
  16. ↑ flatex becomes the new main sponsor at Borussia. Retrieved July 2, 2020 .