flatexDEGIRO: Growth Ahead, But Volatility First

  • flatexDEGIRO remains a strong long-term hold due to robust account growth, operational leverage, and reliable free cash flow generation. Short- to medium-term volatility is likely, driven by cyclical trading activity and recent share price appreciation, so position sizing is key. The business is well-positioned competitively, with high switching costs, brand strength, and regulatory changes set to disrupt weaker neo-broker rivals.