Targobank experiences and test 2023

Targobank experiences and test 2023

The Targobank broker focuses on breadth instead of depth

If you dream of a generous range of financial products, you should take the Targobank test. The Düsseldorf-based provider has supplemented its banking business with brokerage offerings. There are numerous securities, ETFs, bonds, certificates, and savings plans to choose from. A colorful bouquet of financial products that are designed primarily for trading beginners. To ensure that asset management succeeds even without extensive prior knowledge, Targobank’s own PIXIT asset management system, for example, provides support. If you want to try all this out and already have a depot, you should switch. There is a bonus of up to €5,000 when moving.

Clarity, and a pleasing menu – these are the first impressions from the Targobank test. The company remains true to its marketing color mix. On a white background, traders read all trading offers in blue letters.

Well done and easy to read even with smaller displays on the smartphone or tablet. Clarity is not evident from the beginning in the menu structure, because traders first have to work their way to the depots and investment opportunities. At the top of the website, all Targobank offers are presented at a glance:

• Account & Cards
• Loans and Financing
• Savings and investments
• Custody account and securities
• Protection and precaution

As can be seen from the order, custody accounts, and securities are not among the company’s hobbyhorses. Nevertheless, clarity is lived after calling up the category “custody account and securities”. Traders can find all markets and prices, and choose the different trading options.

The Targobank rating on the custody accounts could not be better. The broker knows how to provide the right portfolio for every trader. In total, there are four options:

• Direct Depot
• Starter Depot
• Klassik-Depot
• Plus-Depot

The direct custody account performs particularly well in the Targobank test due to its ease of use and low costs. It is for all traders who want to take their product selection into their own hands online. The Starter Depot is recommended for stock market beginners between the ages of 18 and 27.

The Classic Depot enables all securities transactions and the Plus Depot is for traders with maximum flexibility and even more trading opportunities. The Targobank costs for the custody accounts are not incurred, but there are significant differences in the order commissions.

What is missing: is the Targobank demo account. Traders have no chance to get to know the broker without risk and with virtual credit. If you want to trade securities and the like, you have to open your own custody account and start immediately with equity.

The Targobank rating trading platform should not be missing from the test. After all, it is one of the most important decision-making tools for traders. Targobank relies on its own platform, which, however, offers a lot of support for investment decisions.

Traders have the opportunity to research investment trends and analyze prices. Specialists from Feingold Research, for example, provide free trends and point out new possibilities for action. In addition, there are numerous investment tools that have a positive influence on the Targobank valuation:

• professional chart analysis tools
• Watchlist for securities analysis
• Chart comparison (overview of up to ten price trends at the same time)
• Important stock market dates at a glance in the calendar

It’s about preparing traders for their trading decisions in the best possible way. The special feature: There are no additional Targobank costs for the majority of the tools and features. Instead, even novice traders enjoy the luxury of professional support.

There is one disadvantage to the Targobank experience: The app solution focuses primarily on banking transactions. Access to the brokerage features comes up short.

After traders have decided on a deposit, they must make their initial deposit. A Targobank demo account with virtual credit is not available. Therefore, trading activities are only possible with equity.

Here, too, Targobank focuses on simplicity and is solution-oriented. When the custody account is opened, a reference account is deposited. This is used to process deposits and withdrawals. Safe, reputable, and without additional Targobank costs.

If traders have questions about Targobank fees, financial products, or other topics, they can confidently contact support. It is available through various communication channels:

• Telephonic
• via contact form

The telephone hotline is always open from Monday to Friday from 9:00 a.m. to 19:00 p.m. All questions are answered confidently and reliably. Outside of these hours, the contact form is also available. However, it may take a little longer to respond to the requests.

An FAQ section completes the service. Here, traders can get answers to the most important questions about financial instruments, custody accounts, and the like.

Does Targobank act seriously or do traders have to be afraid of fraud? A look at the company’s internal information brings clarity. Targobank is based in Düsseldorf and is therefore subject to the legal requirements in Germany. The competent supervisory authorities are:

• European Central Bank
• Federal Financial Supervisory Authority

Customers’ deposits are also protected. In the Targobank review, it becomes clear that traders have a maximum security limit of € 100,000. Quite sufficient for the beginning of trading.

If you have any doubts about its seriousness, you should also take a look at the history of the company. Targobank has been a reliable partner for banking and brokerage on the German market for years. No reason to assume fraudulent machinations.

The additional offers can be convincing in the Targobank test. If you are looking for a provider that offers banking and brokerage under one roof, this is the right place for you. In addition to wealth accumulation opportunities, traders can also take advantage of other offers:

• Different account models and credit cards
• Loan offers
• Investments
• Insurance and pension provision

Particular emphasis is placed on individual advice and coordinated solutions. Optionally, the individual options can be used online or even through a consultation in the branch. Targobank has been consistently breaking new ground for many months: digitization is playing a growing role in the Düsseldorf-based company’s business.

All services can be conveniently booked online and appointments can even be made virtually. Account and custody account management can also be conveniently implemented digitally.

The securities offer is a must in the Targobank test. The broker makes thousands of securities available for trading. A security search helps with the selection, with which traders can individually select by:

• Name
• Industry
• Land
• Index

If you want, you can also invest in securities in a savings plan. Targeted selection for such securities is also possible.

The trading costs depend on the order volume and the order. If traders use the Internet, a transaction costs 0.25% of the order volume, a minimum of €4.90 (in the direct custody account) and a maximum of €34.90. It is also possible to order by phone or in the branch. The order is the most expensive with 0.50% of the order volume and at least € 34.90 in the branch.

In addition, the Targobank fees of the individual stock exchanges are charged. For Bürste Berlin, for example, DAX 30 shares can be traded from €14.84. Trading on the Frankfurt Stock Exchange is more expensive, from €16.47.

As Targobank’s experience shows, traders can trade on German stock exchanges. These include Berlin, Düsseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart and Xetra.

In addition, there are some possibilities for over-the-counter trading of the securities. It is offered by the partners Baader, Lang & Schwarz, Société Générale, Tradegate, TARGOBANK Wertpapierhandel.

The selection of securities at Targobank is significantly lower than at other brokers. This is also reflected in the limited selection of stock exchanges. Targobank focuses on the German stock exchanges. When it comes to the costs of securities trading, Targobank’s experience is less positive. With trading costs starting at €8.90 plus a stock exchange fee, the broker is more expensive than many of its competitors.

ETF Trading Offer

ETFs are particularly interesting financial products for traders at Targobank. The broker assists in the selection like no other. In addition to the search function, there is also the ETF matrix. Here, ETFs of different groups are summarized and clearly arranged. As the experience in the Targobank test shows, the selection of groups is possible, for example, according to:

• Regions
• Industry
• Fund type

If traders want to use the individual search, this can be done conveniently with the filter function. Advanced parameters can be entered here. Performance, running costs, the ability to plan a savings plan, the fund currency, and others are all part of it.

ETF Trading Costs

Traders pay for trading from € 4.90 (at least with the direct custody account for the first six months). On average, trading costs range from €8.90 to €34.90. The price depends on the order volume and is calculated at 0.25% each.

Stock exchanges and trading venues

At Targobank, the ETFs are provided in over-the-counter trading by various partners. These include:

• Baader
• Long & Black
• Société Générale
• Tradegate
• TARGOBANK Securities Trading

The times at the trading venues also vary. In TARGOBANK securities trading, for example, traders can trade between 8:45 a.m. and 18:00 p.m. At Tradgate, it is possible between 8:00 a.m. and 22:00 p.m.

Product Summary & Conclusion on Targobank ETF

The ETFs are just as important in the Targobank test. They are provided by numerous premium partners in direct trade. The selection is neat compared to other brokers and I don’t have to hide. If you want, you can also trade ETFs with savings plans. In the case of Targobank costs, the picture is less satisfactory. Merchants must expect costs of at least €8.90 and a maximum of €34.90 (with the exception of the promotional offer in the direct depot).

Certificates Trading Offer

The range of certificates is extensive. According to Targobank’s experience, traders can choose from different types, including:

• Discount certificate
• 100% guarantee
• Equity bonds
• Bonus Certificates
• Sprint Certificates

In order to make this selection easier, an individual search function is available, as is the case with the share offers. Traders can either become based or decide according to optional selection criteria. The latter include, for example, maturity, issuer, or the certificate name (if known).

Certificates Trading Costs

If traders decide to trade certificates in Frankfurt or Stuttgart, they have to calculate additional costs starting at €13.40. In addition, of course, there are the Targobank fees depending on the order volume (from 0.25%) with a minimum of € 4.90 and a maximum of € 34.90. There are no limit fees.

Stock exchanges and trading venues

According to the experience gained from the Targobank test, the certificates can be traded on two stock exchanges in Germany: Frankfurt and Stuttgart. This restriction

Product Summary & Conclusion on Targobank Certificates

There is a positive Targobank rating for the certificates. Traders will find trading instruments from various issuers and can become active on two stock exchanges in Germany. Targobank provides support in the selection process and, for example, provides 20 winners and losers of all certificate types that are always updated. When it comes to costs, the impression is less positive, as trading starts at a minimum of €8.90 plus fees on the stock exchanges.

Our Targobank broker experiences in conclusion

The Targobank experience could be done not only in the area of wealth accumulation but also in banking. The great strength of the provider and the original core business are banking services. The brokerage services were added later. This is also reflected in the selection of financial instruments offered. With their custody account (four different variants to choose from), traders can, for example, invest in securities, ETFs, certificates, and other financial products. The variety is ideal for traders who want to live out their trading strategy with diversification. However, there is a lack of depth of supply. The trading costs are also not 100% convincing in the Targobank test. But there is good news for all traders who like to change: up to € 5,000 bonus payment.