Review Comdirect
Established in Germany, Comdirect stands out as a pioneering online broker, celebrated for its robust regulatory framework and stability, being regulated by top-tier authorities and listed on a stock exchange. This platform offers extensive banking and brokerage services, including access to global markets and a mobile platform, catering to both novice and experienced investors. However, it features high trading fees for stocks, a complex account setup for non-local clients, and requires German language proficiency, with room for improvement in customer support.
Recommended to:
Comdirect is best suited for investors comfortable with German and higher fees, seeking a secure, globally-accessible platform.
Pros
- Broad selection of products
- Outstanding mobile application
Cons
- High trading costs
- Complex set up process for non-German/Austrian users
- Customer Support can be improved
Review’s Keypoints
Country of regulation
Germany
Minimum deposit
$0
Time to open an account
3 days
Trading fees class
High
Deposit with bank card
Not available
Number of base currencies supported
12
Products offered
Stocks
ETF's
Funds
Bonds
Options
Futures
Forex
Warrants
Crypto
Depositing with electronic wallet
Not available
Demo account provided
Yes
Fees
Comdirect generally imposes higher fees across most investment categories. On the upside, it maintains minimal non-trading costs, doesn’t charge for withdrawals, and applies an inactivity fee only after a period of three years.
Pros
- Lack of withdrawal fees
Cons
- Trading costs are high
- High stock and ETF fees
- Inactivity fees
Account
Opening an account is straightforward and completely online for residents of Germany and Austria, however, it becomes intricate and time-consuming for individuals residing elsewhere. Comdirect offers four distinct trading-related account options, all of which fall under the umbrella of the ‘Comdirect Depot’ account.
Comdirect Depot Account
Comdirect Depot Account
Währungsanlagenkonto Account
Währungsanlagenkonto Account
'Währungsanlagenkonto' lets you trade on exchanges outside Germany. It has to be registered to your base 'Depot' account.
LiveTrading Account
LiveTrading Account
A 'LiveTrading' account lets you trade on Comdirect's own OTC market with special conditions, such as trading outside trading hours, and instant order completion.
Click on the card to see details
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01Undergo notarial verification locally.
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02Mail your application to Comdirect.
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03Await a TAN code letter for initial login.
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04Use multiple login methods afterward.
Transfers
Deposits and withdrawals at Comdirect are free, with bank transfers being the sole method for both actions.While there are no fees for withdrawals, the process is limited to bank transfers. Typically, withdrawing funds via bank transfer can take up to 3 business days.
Pros
- Minimum deposit is 0$
- Withdrawals free of charge
Cons
- Limited transfer methods
Trading Platforms
Mobile App
Comdirect's app, designed for simplicity and security, features a basic interface without custom filters, focusing on essential tools and news updates. It supports two-step verification via photoTAN and biometric logins for ease of access. Trading options include traditional and OTC markets with customizable alerts, streamlining the user experience.
Desktop Platform
Comdirect's ProTrader is an advanced trading platform with professional charting and customization, but its design feels outdated. It operates through a Java client, offering detailed layouts via 47 technical indicators, though it might be complex for beginners. The platform features two-step login, adequate search functionalities, and supports various order types including Market, Limit, and Stop, with manual exchange selection. Users can set price alerts and receive notifications. However, its fee reports are not very clear, adding a layer of difficulty in understanding costs.
Offering
Tools
Charting Tools
Comdirect provides robust charting capabilities, allowing users to perform detailed technical analyses. The platform offers a variety of technical indicators and customizable chart types to help identify trends and make informed trading decisions.
Regulation
Comdirect, regulated by Germany’s BaFin, offers investor protection through Comdirect Bank AG. It provides negative balance protection for EU retail clients in forex spot trading, excluding professional and non-EU clients. Established in 1994 and majorly owned by Commerzbank, Comdirect’s long history and strong backing signal its reliability and safety, bolstered by its banking license and regulatory compliance.
Bottom Line
Comdirect, a premier online broker based in Germany, offers a comprehensive suite of banking and brokerage services. While it excels in regulatory compliance and market access, it imposes high stock trading fees and presents challenges for non-German speakers with its complex account setup. The platform is ideal for those who prioritize security and extensive market reach, despite its limitations in customer service and language accessibility. If you’re comfortable with German and can navigate higher fees for a globally integrated trading experience, Comdirect could be your match.
