TARGOBANK launches its own neo-broker on the market with "Joe Broker"

TARGOBANK enters the neo-broker market with its own offering: On July 10, 2025, the new mobile trading platform "Joe Broker" will be launched. With the launch, the bank is responding to the growing demand for digital, user-friendly solutions for securities trading and at the same time positioning itself more strongly in the competition for digital-savvy customers.

Target group: beginners and digital users

With Joe Broker, TARGOBANK is explicitly addressing a new target group: people who want to start trading securities flexibly, cost-effectively and without complicated processes. According to the bank, the focus is particularly on newcomers who previously felt put off by traditional custody account models.

Our goal: a service that is simple, inexpensive and innovative.

Christophe Jéhan, Deputy Chairman of the Management Board of TARGOBANK

Joe Broker is primarily intended to reach people who want digital solutions and want to make their own decisions on the capital market.

Broad product universe and transparent fee structure

Joe Broker's trading offering is quite extensive: customers can choose from over 800,000 financial instruments. These include

• Shares
• ETFs
• funds
• bonds
• Certificates and derivatives

Trading takes place via five German stock exchanges (gettex, XETRA, Frankfurt, Stuttgart, Düsseldorf) and two specialized certificate partners: Société Générale and J.P. Morgan. In technical and organizational terms, processing is handled by Baader Bank, which is also responsible for custody and account management.

A key feature of the new platform is that it does not receive any income from payment for order flow (PFOF), i.e. reimbursements from trading venues for forwarding orders. The model has been criticized and will be banned throughout the EU from June 2026. Joe Broker is therefore switching to a sustainable and transparent fee model at an early stage.

App offers more than just trading

In addition to the pure trading function, the app also aims to support knowledge building and motivation. Users are given access to:

• Editorial content
• Investment stories
• Real-time market data

Joe Broker therefore sees itself not only as a trading platform, but also as a learning and information service, especially for people who are learning about investing for the first time.

Strategic step on the way to becoming a universal bank

Entering the market as a neo-broker is part of TARGOBANK's long-term strategy to establish itself as a universal bank. The bank has already developed new business areas in recent years:

• TARGOBANK Autobank (since 2015)
• Corporate customer business with a focus on SMEs
• Own insurance business via ACM Germany
• Real estate financing
• Planned takeover of Oldenburgische Landesbank (OLB)

This transformation is part of an expansion of the product portfolio for private and business customers. With the introduction of Joe Broker, TARGOBANK is now also expanding its digital offering in the area of investments and asset accumulation.

TARGOBANK at a glance

With almost 100 years of experience in the German banking market, TARGOBANK currently serves 3.8 million customers. It operates around 340 branches in more than 250 cities and employs around 7,400 people throughout Germany.

As a subsidiary of Crédit Mutuel Alliance Fédérale, one of the largest banking groups in Europe, TARGOBANK is part of a strongly capitalized network. The parent company serves around 31 million customers across Europe and has been pursuing a strategy as a bancassurance provider with a sustainability mandate for years.

New player with a tailwind

With Joe Broker, TARGOBANK is positioning itself as a serious provider in the highly competitive neo-broker market. The combination of a transparent fee model, broad trading universe and user-centered app design should be particularly attractive to newcomers and technology-savvy investors.

It remains to be seen whether Joe Broker can hold its own against established competitors such as Scalable Capital, Trade Republic or Finanzen.net Zero. However, the potential for a successful market entry is undoubtedly there. Unfortunately, nothing was known about the exact fee model at the time of writing. What could be really exciting for customers is the editorial content and, above all, the fact that it is a brand of a major bank.