N26 Reintroduces Equity Fees as PFOF Ban Takes Effect
N26, a popular neobroker in Germany, has reintroduced fees for equity orders. Since September 2, 2026, clients pay 0.90 euros per transaction when buying or selling shares and ETFs.
This change is due to the Payment for Order Flow (PFOF) ban, which took effect on July 1, 2026. PFOF allowed brokers to receive payments from trading venues in exchange for routing client orders. However, this practice was banned by Regulation (EU) 2024/791, also known as the MiFIR review.
Crypto assets are not subject to the same rules and fees remain unchanged. N26 still charges between 1.5% and 3.5% of the order volume for buying coins, with Bitcoin costing 1.5%, other coins 2.5%, and thinly traded assets 3.5%. Metal customers receive a 0.5 percentage point discount.
Our analysis found that five out of ten providers state their crypto trading costs with concrete figures on their public pricing pages, while the remaining five do not provide clear information.