Broker election 2021: the already 21st edition of the Broker of the Year election, which took place from 01 March to 31 March 2021 at www.brokerwahl.de, has been decided.
Due to the trading boom of the last 24 months and the successful entry of new brokers into the already highly competitive broker market environment, there were, as in the previous year, some shifts in the winners. The new brokers were able to improve on their already good performance last year and showed the established brokers and banks that they are still a force to be reckoned with.
However, brokers that have been in the market for a longer period of time, are lean (i.e. lean and focused on trading) and can offer low-cost stock trading are also among the clear winners of the ongoing trading boom.
comdirect, which has since been integrated into Commerzbank, won the battle for the title in the main category. "Online Broker of the Year 2021" and thus repeated its success from the previous year. Second place went to the lean broker DEGIRO (last year still in fourth place), which came in just ahead of the AllroundBroker Consorsbank was able to place.
Then come three neo-brokers: Trade Republic, Gratisbroker and justTRADE. They are followed in eighth place by LeanBroker onvista bank and in ninth place by the next neo-broker: Smartbroker from Berlin.
In the election for the "Daytrade Broker of the Year 2021" the LeanBrokers and NeoBrokers are among themselves.
Last year's runner-up justTRADE swapped places with DEGIRO and won a title in the broker poll for the first time.
Last year's winner DEGIRO had to settle for second place this year - but managed to achieve more top 3 placements than any other broker. In third place, as in 2020, was the free broker from Munich. This is followed in fourth and fifth place by ViTrade and flatex, which together with DEGIRO all belong to flatexDEGIRO Bank AG. So right away 3 brokers among the top 5 in the field of day trading - that's a real exclamation mark!
Overall, in this segment the NeoBroker and LeanBroker among themselves, as fees are particularly important for frequent traders and these two types of brokers can score particularly well here.
The demand for ETFs as an investment instrument is ever stronger and the trading boom has even given a further boost here.
The following financial instruments are the most important for the participants of the broker selection (with comparison to the previous year):
Interest in ETFs, at an already high level, increases even more over 7% to 73.6% and already comes close to the top performer, stocks.
The ETF market segment is correspondingly competitive among brokers.
Here, DKB came out on top as "ETF Broker of the Year 2021" and won a title in the broker poll for the first time ever, after having to settle for second place in the same category last year.
Instead, last year's winner, Berlin-based NeoBroker Trade Republic, moved up to second place. DEGIRO then follows in third place, securing the third of a total of four top 3 placements. This is followed by justTRADE, Smartbroker and flatex.
For the first time, we also asked about the awareness of ETF providers.
iShares clearly came out on top, ahead of Deka ETF and Lyxor ETF.
It can be seen that the top ETF providers are still relatively close together in terms of awareness. In terms of popularity, iShares is clearly ahead of BNP Paribas, Lyxor, Deka and Vanguard.
Although futures and options are rather something for experienced traders, the demand among investors is increasing here as well:
|Futures & Options||12,8%||10,8%||+2,0%|
Among futures brokers, WH SelfInvest repeated its previous year's success and clearly won the title of "Futures Broker of the Year 2021" defend
Behind them, there was a close neck-and-neck race, which DEGIRO was able to win in the end in 2nd place (and thus the fourth top 3 placement) ahead of LYNX in 3rd place.
Interest in CFD trading is also on the rise, even though the market is significantly smaller than for traditional stock trading.
In the CFD broker category, Admiral Markets (which will operate under the name Admirals in the future) managed the triple and won in the CFD category for the third time in a row after 2019 and 2020 and can therefore call itself "CFD Broker of the Year 2021" name. IG Europe came in second after narrowly missing out on a top position last year with fourth place.
WH SelfInvest follows in 3rd place with the second top 3 placement ahead of ActivTrades and CMC Markets.
While demand for traditional forex trading is almost stagnant, demand for cryptocurrencies is exploding.
There, interest grows from just under 15% in 2020 to over 30% in 2021 - a doubling in just one year!
|Foreign exchange trading||7,3%||7,1%||+0,2%|
Among Forex brokers, ActivTrades was able to repeat the success of 2020 and take the title of "Forex Broker of the Year 2021" win. However, there were some changes on the following places, so that on place 2 IG Europe (previous year place 3) and place 3 XTB (previous year place 5) could advance. The other places are taken by FXCM and Tickmill.
It is also interesting to note the consistently strong performance of NeoBrokers, which already caused a sensation last year and proved in this year's broker poll that they are no flash in the pan.
Trade Republic (2nd in ETF brokers and 4th in online brokers), justTRADE (1st in day trading brokers, 4th in ETF brokers and 6th in online brokers), Gratisbroker (3rd in day trading brokers and 5th in online brokers) and Smartbroker (5th in ETF brokers and 8th in online brokers) all achieved top rankings.
This should start to sound the alarm bells at the major all-round brokers. maxblue (Deutsche Bank) and S Broker (Sparkassen Broker), which were still competing for the titles not so long ago, no longer made it into the top 10 of the online brokers in 2021. From the ranks of the major all-round brokers, which offer online banking and other financial services in addition to trading, only comdirect and Consorsbank could be satisfied. Unfortunately, ING did not compete in the broker poll.
Those of the all-round brokers who want to participate in the trading boom must therefore come up with something: possible options would be to reposition themselves in trading or to reposition themselves in the market segment through an acquisition. However, the market for acquisitions is narrow and is already shrinking: At the end of March, the financial portal finanzen.net put a clear exclamation mark and bought NeoBroker Gratisbroker (although they are already on the market with their own broker).
But NeoBrokers have a direct influence not only on the big banks and brokers.
The market segment of electronic trading venues has also been gripped by major change for some time.
The market leader Xetra is facing stronger challengers in end customer trading:
|Electronic trading venues||Awareness|
|Electronic trading venues||Popularity|
While the robo advisor market is growing steadily, it is not yet a big issue among many investors:
Even the two best-known RoboAdvisors only achieve awareness levels of just over 35 percent.
In the popularity ratings, the Cominvest roboadvisor is just ahead of Scalable, Oskar, Robin, Evergreen and Quirion.
Already for the 21st time the broker election took place under www.brokerwahl.de and after there had already been a very high level of participation in 2020, this year's attendance record was again significantly exceeded with over 98,000 traders.
This is a good sign that stock trading finally seems to be becoming more popular in Germany.
However, there have also been some shifts in terms of investor profiles.
Thus, investors are more risk-averse this year than they were in 2020:
Due to the trading boom in recent years, there are of course more traders who do not yet have so much trading experience:
|Until 2 years||38%||32%||+6%|
|2 to 5 years||19%||16%||+3%|
|Over 5 years||43%||52%||-9%|
About broker selection:
The broker election has been held since 2001 at www.brokerwahl.de and is organized by the financial portal Broker-Test.de. The complete winner lists of the 6 categories Online Broker, Daytrade Broker, ETF & Certificates Broker, Futures Broker, CFD Broker and Forex Broker can be found here: Broker election 2021 results
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