flatex onboards 46,000 clients in one single deal with German police union

Rick Steves

“For us, the cooperation with the largest state association of the police union has a clear model character for future partnerships also beyond the police.”

The police union of North Rhine-Westphalia, Germany, has partnered with flatex, a brand of renowned retail broker flatexDEGIRO.

The exclusive partnership will offer more than 46,000 union members the opportunity to take their financial future into their own hands with simple and secure access to the capital market.

flatexDEGIRO has over 2 million customers

Frank Niehage, CEO of flatexDEGIRO, commented: “As the European market leader in online stock trading, we are very pleased to be able to support the members of this important professional group via this partnership, also fulfilling our social responsibility to some extent. Shared values such as security, reliability and trust form the strong basis of this partnership. For us, the cooperation with the largest state association of the police union has a clear model character for future partnerships also beyond the police.”

The BaFin-authorized broker operates the online brokerage platform in Europe, offering customers of the flatex and DEGIRO brands a wide range of independent products with execution on top TIER 1 exchanges.

flatex and DEGIRO together serve more than 2 million customer accounts, having processed over 91 million securities transactions in 2021, making it one of the largest retail online brokers in Europe.

Within the next five years, flatexDEGIRO aims to expand its customer base to 7‑8 million customer accounts and process 250-350 million transactions per year – even in years of low volatility, the firm has stated.

flatexDEGIRO extends robo-advisory service

flatexDEGIRO has extended its long-standing B2B partnership with digital wealth manager Whitebox, an independent robo-advisory for retail investors.

Both firms have been partners in the B2B space for more than seven years already and Whitebox’s reputation as only grown since then, having been awarded best robo-advisor in Germany several times fpr its product offer, service quality and pricing model.

Europe’s largest and fastest growing online broker for retail investors will thus leverage Whitebox’s robo advisory and offer a fully digital investment solution to its users, starting at flatex Germany in summer 2022. After the successful launch at flatex, flatexDEGIRO will look into expanding the offering to all DEGIRO customers.

The partnership with Whitebox forms the next step in the verticalization of flatexDEGIRO as the low-cost brokerage platform addresses new customer groups and targets previously less trading-active customers.

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