Consorsbank Review (2026)
*Consorsbank is a brand of BNP Paribas S.A. Niederlassung Deutschland, authorized and regulated by the European Central Bank (ECB), the French Autorité de Contrôle Prudentiel et de Résolution (ACPR), and the German Federal Financial Supervisory Authority (BaFin). Cash deposits are protected up to €100,000 via the statutory French Fonds de Garantie des Dépôts et de Résolution (FGDR) and supplemented up to €3,000,000 per private individual via the voluntary German Einlagensicherungsfonds des Bundesverbandes deutscher Banken (BdB). Standard domestic orders incur €4.95 + 0.25% (min. €9.95, max. €69.00) plus venue fees. Capital at risk.
The Vibe Check
"Consorsbank (operating as the German retail banking division of **BNP Paribas S.A.**) is one of the most reliable and balance-sheet-secure direct banks in the European Union. While rival direct broker comdirect quietly introduces a €1.95/month custody fee after your first three years unless you jump through activity hoops, Consorsbank keeps **Depotführung 100% permanently free with zero conditional activity clauses**. For conservative German accumulators, its deposit safety is unmatched: in addition to the statutory **€100,000 European deposit guarantee (FGDR)**, Consorsbank is a voluntary member of the **Einlagensicherungsfonds (BdB)**, protecting private deposits up to **€3,000,000 per customer**. Its **steuereinfach tax architecture** calculates and deducts Abgeltungsteuer, Soli, and the annual Vorabpauschale automatically, and over **2,000 ETF savings plans (Sparpläne) execute with zero order fees from just €10/month**. But don't overlook their traditional direct-bank pricing traps: buying individual stocks costs **€4.95 + 0.25% with a strict €9.95 minimum floor plus venue charges** (making small orders under €800 uneconomic), individual **stock savings plans extract a 1.50% fee per execution**, trading US equities directly on Wall Street triggers a **€21.00 Smart Order ticket**, and phone orders incur an expensive **€14.95 manual surcharge**."
The Fine Print: Valerie's Consorsbank Fee Audit
Consorsbank operates on a tiered percentage-plus-fixed fee model on domestic bourses, while pairing free ETF savings plans with standard fees on single-stock accumulators:
| Fee Dimension | Consorsbank Pricing Schedule | Valerie's Audit Notes |
|---|---|---|
| Domestic Equities & ETFs | €4.95 + 0.25% (Min. €9.95, Max. €69.00) | Standard rate across domestic German exchanges (Tradegate, Xetra, floor bourses). Volume active traders can drop to €3.95 + 0.08% via Platinum tiers. |
| Venue Fee: Tradegate Exchange | €0.95 Flat Fee | Cheapest domestic lit venue. Total minimum cost for a single domestic stock order on Tradegate is €10.90 (€9.95 base + €0.95 venue). |
| Venue Fee: Xetra & gettex | gettex: €1.95 | Xetra: €1.95 + Venue Cost | ⚠️ Pass-through execution fees. Orders on Xetra add exchange clearing and transaction charges on top of the €1.95 fee. |
| Regional Floor Exchanges | €2.95 Flat + Maklercourtage | Applies to Frankfurt, Stuttgart, and Munich floor trading. Includes third-party broker courtage charges where applicable. |
| US Equities (USA Smart Order) | €21.00 Flat Per Trade | ⚠️ Fixed execution ticket on US exchange-listed stocks (NYSE, Nasdaq). Uneconomic for small trades compared to €1 neobrokers. |
| ETF Sparpläne (Savings Plans) | €0.00 / Execution (2,000+ ETFs) | Over 2,000 ETF savings plans execute with 0% order fees, starting from a low minimum savings rate of just €10/month. |
| Aktien-Sparpläne (Stock Plans) | 1.50% / Execution (Ordervolumen) | ⚠️ Sizable percentage toll. Executing a €200 monthly savings plan on Apple or Siemens costs €3.00/month (€36/year) in execution drag. |
| Securities Custody (Depotführung) | €0.00 / Month (Permanently Free) | Unlike comdirect, Consorsbank guarantees 100% free custody indefinitely, with no quarterly activity requirements or checking account hurdles. |
| Telephone / Manual Order Surcharge | €14.95 Surcharge / Order | ⚠️ High manual ticket fee assessed if an order is placed via telephone representative rather than digital web or mobile apps. |
| Margin Lending (Wertpapierkredit) | ~7.55% p.a. (Variable Rate) | Securities-backed credit line available against approved liquid portfolio holdings; interest debited quarterly. |
| Securities Account Transfer | €0.00 Flat (Free by German Law) | Incoming and outgoing domestic portfolio transfers (Depotübertrag) are processed free of charge under statutory BGH rulings. |
*Aktions-ETFs from premium partners (such as Amundi, Xtrackers, and iShares) are available with zero execution charges across savings plans.
The Core Edge: €3 Million BdB Deposit Fortress, Permanent Free Custody & Steuereinfach Automation
In a crowded German brokerage landscape where fintech neobrokers introduce variable service fees and legacy bank branches charge high custody percentages, Consorsbank maintains three distinct structural advantages:
The primary differentiator is **institutional balance-sheet security via BNP Paribas**. Many neobrokers partner with smaller private clearing banks that provide only the statutory €100,000 deposit guarantee. Consorsbank operates under the German branch of **BNP Paribas S.A.**, the largest banking group in the Eurozone. In addition to statutory European coverage (FGDR up to €100,000), client deposits are safeguarded by the **voluntary Einlagensicherungsfonds of the Association of German Banks (BdB)**, protecting private deposits up to **€3,000,000 per individual**. For individuals with large uninvested liquidity reserves or business exit proceeds awaiting deployment, this provides sovereign-level peace of mind.
Second, Consorsbank offers **permanently free securities custody without conditional activity traps**. While comdirect automatically institutes a €1.95/month custody fee after 36 months unless you maintain active trades or a linked checking account, Consorsbank’s Depot account is **€0.00 for life**. You can build an ETF portfolio, pause your savings plans, and step away for two years without worrying about recurring dormancy fees or account maintenance tolls draining your cash.
Third, their **steuereinfach tax handling engine is flawless**. For German tax residents, calculating the annual preliminary lump sum (*Vorabpauschale*) on accumulating foreign ETFs, offsetting stock losses against general capital gains, and managing tax exemptions (*Freistellungsauftrag*) can create massive tax preparation overhead. Consorsbank calculates and remits all statutory taxes (Abgeltungsteuer, Solidaritätszuschlag, and Kirchensteuer) directly to the German tax authorities in real time, issuing clean, automated annual tax statements (*Jahressteuerbescheinigung*) that integrate smoothly into standard tax software.
Pros and Cons Breakdown
What We Love
- Dual-tier deposit safety: €100k statutory FGDR plus €3,000,000 voluntary BdB bank protection
- Permanently €0.00 custody fee (Depotführung) with zero conditional activity clauses
- Over 2,000 ETF savings plans (Sparpläne) execute with 0% order fees from just €10/month
- 100% automated steuereinfach tax withholding, Vorabpauschale calculation, and Freistellungsauftrag
- Complete exchange choice: Tradegate (€0.95 venue fee), Xetra, gettex, and regional floor bourses
- Free ActiveTrader professional desktop charting software with Level 2 market depth
- Comprehensive Junior-Depot offerings for long-term tax-exempt wealth transfer to children
- Seamless integration with Consorsbank Tagesgeld interest accounts and Visa debit cards
Where It Falls Short
- High standard trading fees: €4.95 + 0.25% with an expensive €9.95 minimum floor
- Small stock trades under €800 suffer high percentage drag (€10.90 min on Tradegate)
- 1.50% execution fee on individual single-stock savings plans (Aktien-Sparpläne)
- Direct US stock orders carry a steep €21.00 flat fee via USA Smart Order
- €14.95 manual order surcharge if executing trades via telephone customer desk
- ActiveTrader US derivatives chart module costs €29/month after promotional trials
Valerie's Final Verdict
"Consorsbank is one of the most dependable direct bank brokerages in Central Europe, offering the ideal balance between full-service banking stability and low-cost passive compounding. Backed by BNP Paribas with €3,000,000 in BdB deposit protection, permanent €0 custody fees, and over 2,000 free ETF savings plans starting from €10/month, it is an exceptional home for long-term German index accumulators. It beats rival comdirect on custody transparency (no 3-year fee traps) while delivering identical steuereinfach tax perfection. However, you must handle single-stock trading with arithmetic discipline: never place individual stock orders under €1,000 where the €9.95 minimum plus exchange fees represents an immediate 1.1%+ transaction drag, avoid single-stock savings plans to dodge their 1.50% execution toll, and avoid trading US shares directly on Wall Street where their €21.00 fee applies. If you stick to their free ETF Sparpläne and large domestic orders on Tradegate, Consorsbank delivers institutional quality with zero platform friction."
Open An Account If:
You want direct bank solvency backed by BNP Paribas (€3M BdB protection), require automated German steuereinfach tax handling, or dollar-cost average into free ETF Sparpläne.
Skip It If:
You execute frequent small trades under €500 (where €10.90 minimums destroy returns), run individual stock savings plans (1.5% fee), or trade US shares directly.
Consorsbank is a brand of BNP Paribas S.A. Niederlassung Deutschland, regulated by BaFin, ECB, and ACPR. Securities trading carries financial risk of capital loss.