BSDEX vs Flatex Comparison
| 0.35 % | Fees | 0.7 % |
| € 3.50 | Minimum cost per €1,000 | € 7.00 |
| 10 | Cryptos | 20 |
| SEPA Transfer | Payment Methods | SEPA Transfer |
| Custodian of cryptocurrencies (Boerse Stuttgart Digital Custody GmbH) has a BaFin license. | Regulation | Crypto custodian Tangany GmbH has a BaFin license. |
Cost comparison
The basis is a Bitcoin purchase worth €1,000, calculated from the disclosed trading fee. A price markup in the spread is not included, because most providers do not publish it.
| € 3.50 | Minimum cost per €1,000 | € 7.00 |
| 0.35 % | Fees | 0.7 % |
| € 0 | Wallet transfer | – |
| Yes | Cost transparency | Limited |
| € 10 | Minimum Amount | € 1 |
| SEPA Transfer | Payment Methods | SEPA Transfer |
On disclosed fees you pay €3.50 less at BSDEX per €1,000 purchase.
Pros & Cons
- All 10 cryptocurrencies trade directly against the euro
- Three separately authorised entities: Baden-Württembergische Wertpapierbörse GmbH for the trading platform, Boerse Stuttgart Digital Custody GmbH for custody, EUWAX AG for exchange, all under BaFin supervision
- Wallet transfer always free
- Minimum charge of just 0.01 € per order
- The advertised 0.20 % applies to maker orders only. Buying with a market order, which is the normal case, costs 0.35 %, that is 75 % more.
- Selection of only 10 cryptocurrencies is limited by comparison
- No savings plan and no staking available
- Only SEPA bank transfer as a payment method
- BaFin-regulated German bank with a full licence
- Direct trading in 25 cryptoassets for clients in Germany, from €1 per order
- Total costs of 0.6% including the spread for liquid assets such as Bitcoin
- Custody with Tangany, a BaFin-supervised crypto custodian
- Crypto ETNs in the same portfolio, with a German tax certificate
- Established online broker since 2006
- Direct crypto trading only for private clients with a registered address in Germany and an individual account
- Small selection of 25 cryptoassets, no staking, no crypto savings plans
- No transfers to or from a personal wallet
- No tax withheld on directly held crypto, gains must be declared yourself
- Crypto ETNs: order fees plus ongoing product costs (TER)
Score Comparison
User Experiences
AI AnalysisUser reports on BSDEX overall paint a mixed picture: the clear layout, easy usability and low fees are mentioned frequently, while technical hurdles with login and app usage are also noted in the reviews.
This analysis is based on 578 user reviews evaluated by AI from the Apple App Store, Trustpilot, and Google Play Store. The total number of reviews on the respective platforms may be higher — the platform ratings shown (star ratings) refer to all reviews available there. The reviews presented reflect user experiences and do not represent the site operator's own assessment. All information is provided without guarantee. As of: March 2026. This comparison does not constitute investment advice.
Features
| ✓ | Savings plan | ✓ |
| ✓ | Staking | ✓ |
| ✓ | Wallet transfer | ✓ |
| ✓ | Cost transparency | ✓ |
| ✓ | 2FA security | ✓ |
| ✓ | SEPA bank transfer | ✓ |
| ✓ | Credit card | ✓ |
| ✓ | Minimum amount | ✓ |
| ✓ | Mobile app (iOS/Android) | ✓ |
| ✓ | Web platform | ✓ |
- Börse Stuttgart trading venue – Made in Germany
- Free wallet withdrawals for all supported cryptocurrencies
- BaFin-licensed custodian for crypto holdings
- Transparent fee structure starting at 0.35 %
- 25 cryptoassets tradable directly for 0.6% to 0.7% in total costs including the spread
- Crypto trading in the flatex account alongside shares and ETFs
- Crypto ETNs also available as a savings plan from €25
The five areas head to head
AI AnalysisFees & Costs
Many users respond positively to the fees and costs. Low fees are highlighted several times in the reviews. Overall, the cost structure is perceived positively from the user perspective.
Direct crypto trading: total costs of 0.6% including the spread for liquid cryptoassets such as Bitcoin and 0.7% for less liquid ones, each for customary order sizes; orders start at €1. Crypto ETNs: order fee of €5.90 per exchange order plus exchange fees, and ongoing product costs (TER) that vary by issuer. As of September 2026.
Usability & User Experience
Users often describe BSDEX as clear and easy to understand, and the intuitive app is also mentioned positively in reviews. At the same time, users report technical hurdles when using the platform, for example when logins are not possible, users have to log in again repeatedly, or the app occasionally freezes.
Not enough reviews available.
Features & Offering
Regarding features and the offering, the user data shows a rather reserved picture. Users mainly want more coins and more altcoins; a savings plan, a profit-and-loss display and a dark mode are also mentioned occasionally. According to reviews, a chart display is also sometimes requested.
Not enough reviews available.
Stability & Security
Regarding stability and reliability, users report in part positively about dependable everyday use. At the same time, reviews mention update problems, app startup difficulties, FaceID errors and repeated logouts. The fact that withdrawals are not possible is also occasionally mentioned in the user data.
Not enough reviews available.
Customer Support
The support is described by users in several reviews as fast, helpful and competent. Users particularly praise the prompt assistance in direct contact. In individual cases, users would like even more support for specific issues.
Not enough reviews available.
Details
| Baden-Württembergische Wertpapierbörse GmbH | Company | flatexDEGIRO Bank AG |
| 2019 | Founded | 2005 |
| Custodian of cryptocurrencies (Boerse Stuttgart Digital Custody GmbH) has a BaFin license. | Regulation | Crypto custodian Tangany GmbH has a BaFin license. |
| € 10 | Minimum Amount | € 1 |
| VideoIdent | KYC | eID, Video-ID, PostIdent |
Verdict
In our overall rating BSDEX leads with 4.1 against 3.1 for Flatex.
On disclosed fees you pay €3.50 less at BSDEX per €1,000 purchase.
For most investors BSDEX is therefore the better choice.
BSDEX is valued as the official crypto trading venue of Börse Stuttgart and is considered one of the most trustworthy platforms in the German market. With custody licensed by BaFin through Boerse Stuttgart Digital Custody GmbH, trading fees of 0.35 % and free wallet withdrawals, the platform is viewed positively by security-conscious investors.
The selection of only 10 cryptocurrencies is clearly room for improvement compared with other exchanges. The absence of a savings plan, staking and alternative payment methods beyond SEPA is also occasionally criticized. The 2FA protection via SMS only instead of TOTP is likewise seen as needing improvement.
BSDEX is considered particularly suitable for investors who value a German, regulated infrastructure connected to Börse Stuttgart and want to focus on the main cryptocurrencies such as Bitcoin and Ethereum.
For investors in Germany who want to hold crypto with the same broker as their shares and ETFs, flatex is a solid choice: according to flatex, liquid assets such as Bitcoin cost 0.6% in total including the spread, less liquid ones 0.7%, each for customary order sizes. The selection of 25 cryptoassets is small, though, there is no staking and no crypto savings plan, and coins can neither be transferred to your own wallet nor deposited from one. flatex does not withhold tax on crypto gains, because directly held crypto is not subject to Germany's flat-rate withholding tax. Clients without a registered address in Germany cannot use direct crypto trading at all and are left with crypto ETNs. If you want a wide choice of coins or your own wallet, a crypto exchange is the better fit.