I've been thinking about these two brokers, the two leading platforms in Europe, for a while now, so today we're going to do a brief comparison between the two platforms.
For more information, I refer you to my previously published articles where I discuss both in more depth.
Commissions, Spreads, and Costs
- TR has no monthly fees, offers free accumulation plans with no limit on amount, and a €1 commission for each manual trade (€2 for the Direct Price feature, which allows you to manually select the execution location, such as Xetra, Euronext, etc.). The spread is variable.
- SC focuses more on subscriptions. The accumulation plans are always free with no limit on amount. It offers two plans:
The FREE plan has no monthly fee, trades cost €0.99 and a 0.99% spread. The PRIME+ plan costs €4.99 per month, with free trading for trades over €250 and a 0.69% spread.
Cryptocurrencies and ETPs
- On TR, you can directly purchase cryptocurrencies (over 50); they are held by BitGo, and accumulation plans are available on them.
- On SC, however, you can only purchase ETPs (exchange-traded products). You don't buy the cryptocurrency directly, but a certificate that tracks its performance. There are about 32, the most popular being 21Shares, CoinShares, etc.
Debit Card
- TR offers a free virtual debit card; the physical one costs a one-time €5, and the mirror-effect metal one costs a one-time €50, with no fixed fees. The VISA card also offers 1% Saveback, an automatic cashback invested in a selected savings plan.
- SC offers a free virtual and physical debit card, with no fixed fees, no cashback, or special features.
Customer Support
- TR offers 24/7 customer support via live chat and phone.
- SC, Customer support isn't its strong point. There's no phone number for customer support, just a chat (with FAQs). You can open a ticket and wait for a human operator to respond via email (the PRIME+ plan gives you higher priority).
Peculiarities: Unique features
- TR recently launched Direct Price. For €2, you can manually choose the execution exchange from 30 global markets.
- SC also offers Robo-Advisor, an algorithm that independently manages the funds you invest.
In conclusion, these are excellent platforms, probably the most attractive in Europe for investing at low costs, in a vast selection of products and services.
Thanx for reading, don't forget to like, follow and comment :)
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