Flatex vs Relai Comparison
In our overall rating Relai leads with 4.2 out of 5 points, ahead of Flatex with 3.1. On disclosed fees Flatex is cheaper: 0.7 % instead of 1 % trading fee, which means € 7.00 instead of € 10.00 per €1,000 purchase. If you care most about stability, Flatex has the better sub-score, while Relai leads on usability and features.
| 0.7 % | Fees | 1 % |
| € 7.00 | Minimum cost per €1,000 | € 10.00 |
| 20 | Cryptos | 1 |
| SEPA Transfer | Payment Methods | Instant SEPA transfer, credit and debit card (Visa, Mastercard), Apple Pay, Google Pay |
| Crypto custodian Tangany GmbH has a BaFin license. | Regulation | MiCA licence (CASP) from the French AMF since 23 Oct 2025 (no. A2025-006), passported across the EU incl. Germany, Austria and Spain. Switzerland: Relai AG is a member of the SRO VQF |
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 A price markup in the spread is not included, because most providers do not publish it.
| € 7.00 | Minimum cost per €1,000 | € 10.00 |
| 0.7 % | Fees | 1 % |
| – | Wallet transfer | € 0 (Bitcoin network fee only, variable) |
| Limited | Cost transparency | Yes |
| € 1 | Minimum Amount | € 50 |
| SEPA Transfer | Payment Methods | Instant SEPA transfer, credit and debit card (Visa, Mastercard), Apple Pay, Google Pay |
On disclosed fees you pay €3.00 less at Flatex per €1,000 purchase.
Pros & Cons
- BaFin-regulated German bank with a full licence, notified under MiCA for crypto trading since April 2025
- 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 in Munich, authorised by BaFin under MiCA since August 2025
- 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)
- Self-custody wallet directly in the app, Bitcoin is held in your own wallet
- Savings plan for weekly or monthly Bitcoin purchases; the first monthly auto-invest plan up to €100 is fee-free
- Wallet transfer to your own and external wallets (incl. hardware wallets) possible
- MiCA authorisation from France’s AMF for Relai EU SASU since 23 October 2025, with an EU passport for all 27 member states; in Switzerland a member of the self-regulatory organisation VQF
- Deposits via SEPA bank transfer (including instant transfer), credit card, Apple Pay and Google Pay
- Only Bitcoin tradable, altcoin selection occasionally criticized by users
- Fee of 1 % per purchase, 0.9 % with an invite code; credit card, Apple Pay and Google Pay cost an extra 3.0 %
- Minimum amount of 50 € is room for improvement compared with other providers
- Setup of external wallet transfers, according to users, is room for improvement
Score Comparison
User Experiences
AI AnalysisAccording to the analyzed user data, Relai is frequently praised by users for its intuitive and clear app. At the same time, users occasionally report hurdles with support, verification, and individual app launches, so the overall experience varies depending on the usage situation.
Provider details (fees, licences, pros and cons) editorially reviewed: November 2026. Investing carries a high level of risk, up to and including total loss of capital. This is not investment advice. Without guarantee.
Features
| not specified | Savings plan | available |
| not specified | Staking | not available |
| not specified | Wallet transfer | available |
| not specified | Self-custody wallet | available |
| not specified | Credit card payment | available |
| not specified | VASP license (Switzerland) | available |
| not specified | Web platform | not available |
| not specified | Mobile app (iOS/Android) | available |
| not specified | Hardware wallet support | available |
- 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
- More than 55 crypto ETNs also available as a savings plan from €1, with no order commission
- Bitcoin-only approach with self-custody directly in the app
- Savings plan with automatic transfer to your own wallet or hardware wallet
- Swiss company with a MiCA authorisation from France’s AMF for EU customers
- Relai Private from 100,000 CHF/EUR and Relai Business for companies
The five areas head to head
AI AnalysisFees & Costs
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 commission from €5.90 per order plus third-party costs (a flat €2.00 at Tradegate, gettex, Lang & Schwarz and other venues), €0 for the nxtAssets ETNs on Bitcoin, Ethereum and XRP bought off-exchange from €1,000; savings plans in crypto ETNs from €1 with no order commission. Spreads and ongoing product costs (TER) depending on the issuer come on top. As of 1 November 2026.
When it comes to fees and costs, the user data paints a mixed picture. Some users describe Relai as cost-effective, while others rate the fees as high. Overall, opinions on the costs differ clearly.
Usability & User Experience
Not enough reviews available.
Users particularly appreciate Relai’s intuitive app, which in many reviews is described as clear and easy to use. According to reviews, getting started also works without much prior knowledge, which stands out positively, especially in everyday use. Occasionally, however, users report that the app does not open directly.
Features & Offering
Not enough reviews available.
In the analyzed user reviews, some users would like dark mode, automatic orders, tax documents, or a settlement account. In addition, precautionary transfers, coins on the homepage, and more coins are mentioned. Overall, the feedback on features mainly relates to such additional requests.
Stability & Security
Not enough reviews available.
Regarding stability and reliability, individual reviews report that the app does not start, cannot be opened, or crashes. Overall, this area is occasionally criticized by users.
Customer Support
Not enough reviews available.
According to reviews, the sentiment around support is rather critical. While competent service is mentioned occasionally, users also criticize in some cases that support is not reachable or that responses take a long time. Overall, users report mixed experiences with support.
Details
| flatexDEGIRO Bank AG | Company | Relai AG (CH) / Relai EU SASU (EU) |
| — | Headquarters | & |
| 2005 | Founded | 2020 |
| Crypto custodian Tangany GmbH has a BaFin license. | Regulation | MiCA licence (CASP) from the French AMF since 23 Oct 2025 (no. A2025-006), passported across the EU incl. Germany, Austria and Spain. Switzerland: Relai AG is a member of the SRO VQF |
| € 1 | Minimum Amount | € 50 |
| eID, Video-ID, PostIdent | KYC | ID card or passport (with MRZ), NFC chip scan, selfie |
Verdict
In our overall rating Relai leads with 4.2 against 3.1 for Flatex.
On disclosed fees you pay €3.00 less at Flatex per €1,000 purchase.
For most investors Relai is therefore the better choice.
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. Since April 2025 the bank has been notified to BaFin under MiCA for executing crypto orders, and its custodian Tangany has held a MiCA authorisation since August 2025. In France, the Netherlands and Spain the same bank has offered direct crypto trading under the DEGIRO brand since September 2025. If you prefer securities, more than 55 crypto ETNs can be bought through a savings plan from €1 with no order commission. If you want a wide choice of coins or your own wallet, a crypto exchange is the better fit.
Relai has established itself in the DACH region as one of the best-known Bitcoin-only apps and is especially appreciated by the Bitcoin community. The Swiss company follows a consistent self-custody approach: Bitcoin is held directly in the in-app wallet, and transfers to external wallets, including hardware wallets, are possible. Customers in the EU are served by Relai EU SASU, which has held a MiCA authorisation from the French financial markets authority AMF since 23 October 2025 and, according to the ESMA register, may operate in all 27 member states via the EU passport; in Switzerland, Relai AG is a member of the self-regulatory organisation VQF. Relai is therefore considered to be on solid regulatory footing.
The savings plan functionality is particularly valued, enabling automatic Bitcoin purchases with direct transfer to your own wallet or a hardware wallet. For investors who see Bitcoin as a long-term store of value and place importance on self-custody, Relai is regarded as one of the most accessible solutions. The fee is 1 % per purchase, or 0.9 % with an invite code; the first monthly auto-invest plan up to €100 remains fee-free. Paying by credit card, Apple Pay or Google Pay adds 3.0 %.
Since only Bitcoin can be traded, Relai is not suitable for investors interested in altcoins, something occasionally criticized by some users. The minimum amount of 50 € and the setup of external wallet transfers are also seen as room for improvement. Relai is therefore especially suited to Bitcoin-focused investors who want to combine self-custody and automated saving with a regulated provider.