Best Depot Accounts in Germany for Expats: Brokers, ETFs & Taxes (2026)

Last verified: June 2026. Broker features, onboarding flows, and cash-interest rates can change quickly, so always confirm the current conditions on the provider site before opening an account.

If you already opened a German bank account, the next financial step is usually a Depotkonto – a brokerage account for ETFs, stocks, funds, and other investments. For expats, the right choice is not only about low fees. It is also about English usability, passport verification, tax handling, and whether the account still works for you if you move again.

This guide compares the best Depot accounts in Germany for expats in 2026, including which broker fits passive ETF savers, active traders, German-speaking bargain hunters, and US citizens who need to avoid the PFIC trap.

Quick answer: which Depot account is best for expats in Germany?

• Best for passive ETF savers who want English onboarding: Scalable Capital
• Best for active retail investors who also want cash interest: Trade Republic*
• Best for larger buy orders if you can work in German: Traders Place*
• Best fit for many US citizens and highly mobile expats: Interactive Brokers

*Affiliate link. It costs you nothing extra and helps fund our free expat guides.

Depot comparison table for expats in Germany

Which broker should you choose based on your situation?

Choose Scalable Capital if you want the cleanest ETF-saver setup

Scalable is one of the easiest brokers to recommend to expats who want a long-term ETF savings plan rather than daily trading. The interface is available in English, ETF savings plans are easy to set up, and the provider explicitly supports POSTIDENT, including identification at a Deutsche Post branch.

• Why it works for expats: English interface, recognisable German tax handling, and a physical identification route if fully digital verification does not work smoothly.
• What matters most: This is a strong fit for someone building a monthly ETF habit, not for someone chasing advanced trading features.
• The tax point: Scalable and its banking setup handle capital-gains tax withholding for German residents, but the Sparer-Pauschbetrag is not just “turned on” by default. You should actively set the Freistellungsauftrag inside the app or web profile.
• Main drawback: We do not currently have an approved tracked partner link for Scalable, and some users still prefer the simpler brand recognition of Trade Republic.

Choose Trade Republic if you want a simple investing app plus cash interest

Trade Republic remains one of the strongest all-round choices for expats who want a mobile-first English interface, low-friction investing, and the extra benefit of earning interest on uninvested cash. The exact rate can change, so treat that as a live commercial feature, not a permanent promise.

• Why it works for expats: English app, very simple UX, easy recurring investing, and a flat fee for many trades.
• Why it can convert well for us: It solves two anxieties at once – “where do I invest?” and “why is my cash sitting idle?”
• The tax point: German withholding is handled automatically, but you still need to activate or manage your Freistellungsauftrag.
• Main drawback: Onboarding is more dependent on digital verification, so some non-EU users may find it less forgiving than a POSTIDENT-backed route.

Open Trade Republic →*

Choose Traders Place if you care about larger order costs and can handle German

Traders Place is not the most beginner-friendly expat option, but it becomes interesting if you are making larger one-off buys and can comfortably operate in German. The key commercial hook is its low-cost structure on certain trades and instruments, especially once order size crosses the relevant threshold.

• Why it works: Cost structure can be attractive for larger orders, and it is a real option for expats who are already financially settled and German-capable.
• Who should skip it: New arrivals who still need English explanations or hand-holding.
• The tax point: Like other German brokers, tax withholding is integrated locally.
• Main drawback: The product is weaker for English-first expat UX.

Open Traders Place →*

Choose Interactive Brokers if you are a US citizen or expect to move countries again

Interactive Brokers is the least “German-local” option on this list, but that is exactly why it can be the right answer for US expats and globally mobile professionals. For many US persons, the real risk is not paying a slightly higher fee. It is accidentally stepping into the PFIC problem by buying non-US funds through a local European broker.

• Why it works: Strong international model, English-first environment, and better fit for people who may leave Germany again.
• The big trade-off: You do not get the same hands-off German tax withholding experience. Your annual filing can be much more complex.
• Who should use caution: Beginners who want a simple “Germany does the tax bit for me” setup.

German investment taxes: the one thing most expats misunderstand

Germany generally taxes investment income through the Abgeltungssteuer: 25% capital-gains tax plus solidarity surcharge, and church tax if applicable. In practice, that means most German brokers withhold the tax before the money reaches you.

That sounds simple, but there is one important catch.

You still need to set the Freistellungsauftrag. German residents can currently shield up to EUR 1,000 of investment income per year from this withholding tax, or EUR 2,000 for married couples with a joint exemption order. But this benefit does not help you unless you actively enter it with your broker.

If you forget, the broker may still withhold tax from your first taxable euro and you will only recover it later through your tax return. If you are already filing in Germany, our tax return guide explains how to think about that broader refund process.

What if you are a US citizen in Germany?

This is where generic “best broker in Germany” advice can become actively dangerous. Many US citizens living in Germany need to be much more careful about which products they buy and where they hold them.

• Broker availability can be limited: Some German and European brokers do not onboard US persons, or support can be more restrictive because of FATCA reporting obligations.
• The fund problem matters more than the app: Buying European-domiciled ETFs can create PFIC complications on the US side.
• The practical result: A locally popular German neo-broker is often not the safest route for a US expat.

That is why many US expats prefer Interactive Brokers or another internationally suitable platform rather than forcing themselves into the same broker choice as a non-US newcomer.

How this article should guide an expat decision

• If you want a calm monthly ETF setup in English: start with Scalable.
• If you want a simple app, easy investing habits, and cash interest: start with Trade Republic.
• If you speak German and care about larger-order costs: check Traders Place.
• If you are a US citizen or will probably leave Germany again: look at Interactive Brokers first.

Final verdict

The best Depot account in Germany for expats is not one universal winner. It depends on whether you are solving for language, verification, taxes, mobility, or trading style.

If we narrow the question to the most common expat use cases, the current shortlist is simple: Scalable Capital for English-friendly ETF savers, Trade Republic for the strongest everyday expat investing experience, Traders Place for German-speaking fee hunters, and Interactive Brokers for many US citizens and mobile international investors.

If you are still choosing your broader financial setup, pair this with our best bank accounts in Germany for expats guide so your everyday banking and investing setup actually fit together.

Sources and verification notes

This article was reviewed in June 2026 against public provider and support pages, including Scalable Capital identification and tax-help pages, Trade Republic support and cash-interest pages, the Traders Place pricing pages, and the general German tax framework for investment withholding and the Sparer-Pauschbetrag. Product rates and onboarding rules can change, so the ranking here is based on expat usability and tax practicality rather than a promise that any single commercial feature will remain unchanged.