Bala Extra · Pedro M. Sánchez

My Investor premium vs. Trade Republic vs. brokers

·34 min·3 clips

Trade Republic avoids fees for periodic investments, unlike MyInvestor which requires a premium subscription to dodge penalties.

1. Bala Extra episode 1611, recorded December 29, 2025, examines MyInvestor's new €7.99/month premium subscription and its implications compared to Trade Republic and other investment platforms. 2. The episode is hosted solo by the show's regular presenter (name not stated in transcript), who notes he is recording with a cold-affected voice and mentions having been vaccinated that year. 3. The core thesis is whether MyInvestor's premium subscription represents a genuine value proposition or a structural shift away from the bank's founding identity as a low-cost investment platform. 4. MyInvestor is a bank co-owned by El Corte Inglés, French insurer AXA, and Andorran bank AntBank, with headquarters in Andorra opposite the Caldea spa. 5. The premium subscription costs €7.99/month or €95.88/year, introduced without major fanfare but generating significant social media discussion. 6. Without premium, MyInvestor charges €1 per ETF operation; with premium, that fee disappears and investors gain access to 'clean class' funds with TERs of 0.15-0.20% instead of 0.40%. 7. On a €30,000 investment, the 0.25-percentage-point TER difference equals approximately €75/year — nearly the cost of the annual subscription, meaning premium only clearly compensates above moderate investment volumes. 8. Trade Republic also charges €1 per standard ETF operation, but completely waives the fee for investors who set up automatic periodic investment plans — no subscription required. 9. Trade Republic remunerates cash balances at 2% annually, while MyInvestor offers only 0.30% on current account balances. 10. The host states he personally has never paid a fee on Trade Republic because all his investments there use periodic automatic plans. 11. DeGiro maintains a 'Core' ETF list with a flat €2.50/year holding cost, but charges €2-5 per operation outside that list and offers no remunerated cash account or Bizum payments. 12. EToro does not charge explicit commissions but uses wider bid-ask spreads (sprits), meaning investors buy slightly above and sell slightly below market price without seeing the cost. 13. Interactive Brokers (IBKR) offers very low commissions and tight spreads with global market access, but requires advanced financial knowledge and involves complex tax reporting — not suitable for retail investors. 14. The host explains that fund TERs charged by issuers like Vanguard, iShares, and Fidelity — typically 0.09-0.12% — are unavoidable regardless of which platform is used. 15. Trade Republic generates revenue from fund issuers paying to be listed on its platform (like an 'Amazon for funds') and from a small margin between what it earns from custodian banks like Crédit Agricole versus the 2% it pays users. 16. The host notes that funds (fondos) are more tax-efficient than ETFs in Spain because fund-to-fund transfers do not trigger a taxable event, whereas selling an ETF to switch positions does. 17. The episode is delivered in a calm, solo monologue format with occasional self-interruptions, personal anecdotes including a €70,000 pension plan transfer, and direct financial examples using round numbers. 18. Tone is conversational and non-promotional; the host disclaims any financial training and explicitly frames his conclusions as personal opinion from a user's perspective. 19. Best suited for Spanish-speaking listeners approaching or planning long-term personal investing, particularly those already considering MyInvestor or Trade Republic. 20. Less relevant for listeners seeking advanced trading strategies, non-Spanish market platforms, or professional investment guidance.

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