In a strategic move to diversify its financial offerings, German digital bank N26 has announced the introduction of in-app stock and ETF trading features for its account holders. Partnering with Upvest, N26 aims to empower its customers with seamless access to the world of stock markets and exchange-traded funds (ETFs) directly from the N26 app.
The new service, set to launch gradually, will enable users in Austria to engage in stock trading with a competitive fee structure of 0.90 EUR per trade. What sets this offering apart is the inclusion of fractional investing, allowing account holders to invest in partial shares of popular European and US assets for as little as 1 EUR. This feature opens up new opportunities for users with smaller budgets to participate in the stock market and build diverse investment portfolios.
As a testament to N26’s commitment to providing a holistic financial platform, the initial release will offer fractional investing in more than 100 ETFs. Valentin Stalf, CEO at N26, emphasizes the bank’s dedication to offering an all-encompassing financial experience within the N26 app. With features like N26 Instant Savings and N26 Crypto already in place, the addition of stock and ETF trading completes the trifecta, allowing users to manage their spending, saving, and investing needs all in one place.
The phased rollout will begin with eligible customers in Austria, with plans to extend the service to Germany in the coming months. N26‘s ambitious roadmap also includes expanding the range of tradable assets to encompass over a thousand stocks and ETFs, making it one of the most comprehensive in-app trading platforms. The bank envisions further market availability beyond Germany and Austria, reflecting its commitment to serving a broader user base.
In an era where financial institutions are continuously evolving to meet the changing needs of consumers, N26’s move towards in-app stock and ETF trading aligns with its overarching goal of reaching monthly profitability in 2024. The decision to streamline operations by refocusing efforts on continental Europe signals a strategic shift in the bank’s approach. By enhancing its product range and incorporating user-friendly financial tools, N26 aims to solidify its position as a frontrunner in the digital banking landscape.
Customers can expect a transparent fee structure, devoid of hidden charges, coupled with an exceptional user experience. N26’s foray into the world of stock trading not only enriches the financial services available to its users but also represents a significant step towards democratizing access to investment opportunities for a wider audience. As the digital bank continues to refine its offerings, users can anticipate a future where managing finances seamlessly becomes the norm within the N26 ecosystem.