Summary: Sparda-Bank West clients cannot currently buy stocks through its online banking platform. However, you can still invest in shares with the funds in your Sparda account by sending them to a secure CySEC-regulated broker..
The most secure exchange to buy stocks with a SBW account is eToro Europe. eToro is a multi-asset investing and trading platform with over 4000 assets in 6 classes including stocks, crypto, exchange-traded funds (ETFs), fiat currencies, indices and commodities.
Does Sparda allow stock investing?
Unfortunately, Sparda Bank does not currently allow the investing of stocks directly on its platform. This is because the platform has not acquired the appropriate licensing to operate a share-investing feature on its site. Not to worry, there are secure alternative ways to investing in stocks with a Sparda-Bank West account.
To buy stocks in Europe, you will need to use a trustworthy share brokerage platform. We recommend using eToro as it offers the highest security with over 15 years experience and offers unique social-trading features like CopyTrading, which allows you to mimic the trades of successful eToro investors.
How to buy stocks with Sparda-Bank West
If you want to buy stocks with Sparda-Bank West, you have come to the right place. The best way to buy stocks is through eToro. On eToro, Sparda Bank account holders can deposit EUR via Bank Transfer, Credit/Debit Card, Skrill, Neteller, Rapid Transfer And Trustly. Follow the below steps to get started.
- Open Free Account: Sign up to eToro and complete the verification process.
- Deposit EUR: Click 'Deposit Funds', pick a method and send EUR from your Sparda-Bank West account.
- Find Asset: Search for the stock you want to purchase and tap the 'Trade' button.
- Buy Stock: Enter the amount you want to invest and select 'Set Order'.
Is it expensive to invest in stocks?
For a short answer, no, when you buy stocks through eToro the fees are effectively non existent. Depositing fiat currencies on eToro is completely free and withdrawals are capped at $5 per transaction. And to make it better, eToro offers 0% commissions on stocks meaning it is virtually free to invest in shares through the platform.
However, other share brokerage platforms like Degiro and Trading 212 charge administrative fees, monthly management fees, ticketing fees and brokerage fees plus many more additional and hidden costs. To see a full breakdown of eToros pricing, we recommend visiting the eToro Fees Schedule.
About Sparda Bank
Sparda-Bank West is a regional bank based in Germany. It offers banking products and services to retail, corporate, and institutional clients. The bank has a wide range of products, including savings accounts, checking accounts, credit cards, loans, and investment products. It also offers online banking and mobile banking services.
The bank was founded in 1871 and is headquartered in Dortmund. It has over 1,200 branches across Germany and employs around 11,000 people. Sparda is a member of the Sparda-Banken banking group, which consists of eight regional banks. It has generally positive reviews, with customers praising its customer service, wide range of products, and competitive rates.