German trading platform

mills112

Emmia said:

mills112 said:

Emmia said:

mills112 said:

Sam_666 said:

Spending 1sec on google produced result below.
https://www.de.vanguard/private-anleger/anlageprodukte/etfs

You do know there are search engines and AI these days?

I can't read German but that looks like etf offered by vanguard.  Great.  What about an equivalent platform to HL?  Can you find that?

I think perhaps you need to suggest a search engine and AI to your cousin who presumably does speak/understand German.

Tell them about the platform found, and suggest they have a look for other, similar options available to them.

She is German so yeah, she speaks German.  She doesn't know anything about investing in the stock market and she wants me to help her but as I don't speak German and I know nothing about the German market or economy, it isn't so easy!  She also wants me to trade for her so tell her when to buy and sell, lol, and this will be difficult if I don't speak German 

I wouldn't be getting involved in trading her money, what if you make a poor decision?

Yeah, good point!

mills112

poseidon1 said:

mills112 said:

I use Hargreaves Lansdowne to trade as it is safe so I know my money is safe with them.  They offer a large choice of funds to invest in and to trade, particularly ETF.

My cousin says she want to invest in ETF as well but she lives in Germany so on the off chance, does anyone know of a similar platform to Hargreaves Lansdown in Germany?

I trade in ISF and VWRL (FTSE 100 and FTSE-All World) indices, so anyone happen to know which ETF would be similar to these in Germany?  Although I don't think the FTSE100 is going to be appropriate for her and an equivalent German index replication fund may be better.

Germany charges capital gains tax on investment income and capital gains, so no distinction between the two.  However, German tax authorities expects the paying agent to deduct this tax at source on all income  and gains arising to the investor ( in stark contrast to the UK postion wnere everything paid gross). 

So your cousin's issue is to source  ETF providers sufficiently resourced to take on this onerous compliance.  If she has not already done so would be a good idea for her to familiarise herself with Investment taxation per link below -

https://www.firma.de/en/accountancy/capital-gains-tax-in-germany/


In the meantime following investment platforms might be worth a look


https://traderepublic.com/en-de

https://freedom24.com/

https://de.scalable.capital/

https://www.dkb.de/privatkunden/investieren/depot

"Germany charges capital gains tax on investment income and capital gains" - so if you made a profit on selling an ETF, you would be taxed twice?  Once on the gain and one for that being considered income?

wmb194

mills112 said:

poseidon1 said:

mills112 said:

I use Hargreaves Lansdowne to trade as it is safe so I know my money is safe with them.  They offer a large choice of funds to invest in and to trade, particularly ETF.

My cousin says she want to invest in ETF as well but she lives in Germany so on the off chance, does anyone know of a similar platform to Hargreaves Lansdown in Germany?

I trade in ISF and VWRL (FTSE 100 and FTSE-All World) indices, so anyone happen to know which ETF would be similar to these in Germany?  Although I don't think the FTSE100 is going to be appropriate for her and an equivalent German index replication fund may be better.

Germany charges capital gains tax on investment income and capital gains, so no distinction between the two.  However, German tax authorities expects the paying agent to deduct this tax at source on all income  and gains arising to the investor ( in stark contrast to the UK postion wnere everything paid gross). 

So your cousin's issue is to source  ETF providers sufficiently resourced to take on this onerous compliance.  If she has not already done so would be a good idea for her to familiarise herself with Investment taxation per link below -

https://www.firma.de/en/accountancy/capital-gains-tax-in-germany/


In the meantime following investment platforms might be worth a look


https://traderepublic.com/en-de

https://freedom24.com/

https://de.scalable.capital/

https://www.dkb.de/privatkunden/investieren/depot

"Germany charges capital gains tax on investment income and capital gains" - so if you made a profit on selling an ETF, you would be taxed twice?  Once on the gain and one for that being considered income?

"Investment income" will be dividends, interest and the like it's just that the tax looks to be the same rate for income and capital gains. In most countries it's normal to be taxed on each element but often the tax rates differ.

https://taxsummaries.pwc.com/germany/individual/income-determination

poseidon1

The Vorabpauschale system of taxing unrealised gains annually, and only providing a tax credit against future realised gains, seems to suggest avoid investing in accumulating etfs - as below


https://de.wikipedia.org/wiki/Vorabpauschale

Generally the vagaries of the German tax system has sufficient oddities compared to  UK , it would be unwise to invest without proper tutoring. 

mills112

poseidon1 said:

The Vorabpauschale system of taxing unrealised gains annually, and only providing a tax credit against future realised gains, seems to suggest avoid investing in accumulating etfs - as below


https://de.wikipedia.org/wiki/Vorabpauschale

Generally the vagaries of the German tax system has sufficient oddities compared to  UK , it would be unwise to invest without proper tutoring. 

thanks, that is a good point!