Trade Republic Achieves Profitability with Doubling User Base

Trade Republic achieves profitability with doubling user base, surpassing €100 billion in assets under management effortlessly. European digital broker Trade Republic announced on Thursday that its assets under management have exceeded €100 billion ($109 billion), while its customer base has doubled to 8 million in the past year.

Trade Republic Achieves Profitability, Hits €100 Billion in Assets

The Berlin-based fintech is enhancing its physical footprint by establishing branches in France, Spain, and Italy and introducing localized banking services in these countries.

The company sustained profitability throughout both fiscal and calendar year 2024, continuing to offer competitive deposit rates aligned with the European Central Bank’s 3% benchmark rate. In France, Trade Republic has gained over 1 million customers, offering commission-free savings plans for tax-advantaged PEA accounts. Additionally, French customers now have access to domestic current accounts with national IBANs.

Just a year ago, the company had celebrated reaching 4 million users and managing €30 billion in assets.

“A new generation of savers is emerging across Europe, taking charge of their own finances. A large portion of these customers are taking their first steps with Trade Republic. In just six years, these customers have saved over 100 billion euro with us. This highlights the scale of this movement and its potential for the future,” said Christian Hecker, co-founder of Trade Republic.

International customers now account for more than one-third of the user base. Growth in 2024 was further driven by the launch of debit cards and current accounts.

Trade Republic Services Expand

Operating in 17 European countries, Trade Republic provides a range of services including savings plans, fractional trading of stocks, ETFs, bonds, derivatives, and cryptocurrency investments. The company is regulated by Germany’s Federal Financial Supervisory Authority (BaFin) and Deutsche Bundesbank.

“2024 was a year of significant investment in our infrastructure. With the establishment of national bank branches and our own securities settlement system, we have built a European platform. As the first truly European bank, we aim to offer the most attractive local banking and savings products in every market,” added Hecker.

Four years ago, the brokerage faced backlash for restricting users from purchasing meme stocks such as GameStop and AMC, a move comparable to Robinhood’s actions during the same period, sparking criticism from investors and the trading community.

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