BISON vs Smartbroker+ Comparison

Editorial assessment, November 2026: We have downgraded BISON to 1.9 out of 5 and do not recommend it. The deciding factor is cost. According to BISON's fee page (accessed 8 November 2026), the proportional spread on Bitcoin and Ethereum averages 1.25 percent per purchase or sale, and 1.75 percent on all other cryptocurrencies. Buying Bitcoin and selling it later therefore costs around 2.5 percent, and around 3.5 percent for other coins. Deposits by credit card, Apple Pay or Google Pay cost an extra 2.49 percent, and BISON keeps 27 percent of staking rewards on Ethereum and Solana. MiCA-licensed exchanges in our exchange comparison charge from 0.2 percent for the same purchase. The authorisation of EUWAX AG and Boerse Stuttgart Digital Custody GmbH in the ESMA register does not change this calculation.

BISON is the crypto app of Börse Stuttgart and is perceived in the DACH region as a provider with a traditional capital markets background. The provider is EUWAX AG, a Börse Stuttgart company supervised by BaFin that has notified BaFin of its crypto services under MiCA. Crypto custody is handled by Boerse Stuttgart Digital Custody GmbH, which has held a MiCA authorisation from BaFin since January 2025. Euro balances are held at Solaris SE and Deutsche Bank and are covered by statutory deposit protection up to EUR 100,000 per investor and bank. According to BISON, 69 cryptocurrencies are tradable, plus stocks and ETFs, and the app has more than 1.06 million users.

As one of the few offerings among German brokers, BISON allows free wallet transfers to your own wallets. Staking, savings plans, and an integrated tax report are also available. According to BISON, staking of Ethereum and Solana is currently not regulated under MiCA. Deposits are possible via SEPA, instant bank transfer, and credit card.

Costs sit in the spread, which according to BISON averages 1.25 % on Bitcoin and Ethereum and 1.75 % on all other cryptocurrencies, the upper range among the brokers compared. The exclusively SMS-based 2FA and the processing time for wallet transfers of up to 24 hours are also seen as room for improvement. Overall, BISON is aimed at investors who prefer an established German provider and are willing to accept trade-offs in fees and coin selection.

Smartbroker+ is perceived in the DACH region as a multi-asset broker that combines cryptocurrencies with stocks, ETFs, and derivatives on one platform. With 39 tradable cryptocurrencies and custody via Tangany GmbH, which has held a MiCAR authorisation from BaFin since August 2025, the provider is considered to be on solid regulatory footing. Smartbroker AG has notified BaFin under MiCAR that it receives and transmits crypto orders, which are executed via Baader Bank. Trading fees of 0.9 % for crypto are in the mid-range among German neobrokers; the trading venue's mark-up or mark-down and a €1 small-order surcharge below €500 come on top.

Users appreciate that crypto can be bought from as little as €0.01, which enables an especially accessible entry point. Regular investing works through savings plans on 35 crypto ETPs, which run without an order fee. The platform is available via app and web and is aimed at investors who want to manage different asset classes centrally. For users who already invest in stocks and ETFs and want to add crypto as an additional component, Smartbroker+ is seen as a practical solution.

Transfers to or from personal wallets are not possible, and staking is not offered for directly held cryptocurrencies; both are occasionally criticized by users. Deposits come only from the registered reference account, either by SEPA direct debit with funds available within seconds or by bank transfer. Users see room for improvement in the waiting time after registration, and the crypto wallet requires residence in Germany. Smartbroker+ is therefore particularly suitable for securities investors in the DACH region looking for a German broker with BaFin-regulated crypto custody and a broad product range.