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This is an announcement that does not go unnoticed. N26 has decided to eliminate all transaction fees and commissions from its trading offer throughout Europe and France. No fewer than 3,000 stocks and 500 ETFs are affected by this offer. Let's take stock.
This operation will start on Monday, January 27. The German mobile bank says it wants to democratize stock market investment for its users. It cites a survey according to which only 20% of Europeans use this type of financial asset and even 7% in France. Yet one in six Europeans aspires to invest more.
The trading offer is attractive in France
Jérémie Rosselli, Managing Director of N26 France, comments:
All banks have a responsibility to change people's mindsets when it comes to making their money grow. By making stock and ETF trading free for all, we aim to reduce the barriers to investment to help millions of Europeans take control of their financial future and grow their wealth. Previously, a French person was offered a SICAV or an OPC by his advisor. Today, he can himself choose to buy €10 worth of Apple, Hermès or Adidas shares from his smartphone and without transaction fees now.
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According to figures cited by the company, the stock and ETF trading offer that was launched last July in France is appealing: “We can see that 20% of the thousands of customers who have opened their trading portfolio have already carried out more than ten transactions with N26. Finally, this product attracts customers from all walks of life since 32% are under 30 and 18% are over 45”, explains Jérémie Rosselli.
These are the American tech giants, very well known to customers, who are doing well in our countries and, among them, Nvidia, Tesla, and Amazon. On the ETF side, other big names are popular, including iShares S&P 500 Information Technology Sector, Vanguard S&P 500, and Xtrackers II EUR Overnight Rate Swap.
Revolut pulls out all the stops
This initiative by N26 is reminiscent of another by its competitor Revolut. The British company allows its customers to access ETFs with zero commission fees. All you have to do is schedule automatic and recurring contributions from €1 to more than 300 ETFs listed in Europe. To find out more about this offer, don't hesitate to reread our previous article here.
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