HypoVereinsbank

3.6(950)

BaFin

Targobank

3.5(850)

BaFin

HypoVereinsbank vs Targobank

Head-to-Head Comparison 2026

Last reviewed: October 2026•

By Sofia

Our Verdict

HypoVereinsbank (HVB) and Targobank are BaFin-regulated German banks with a free online depot — but HVB leads on order fees. It trades via the HVB DirectDepot from €4.95 plus 0.25%, while Targobank charges from €8.90 (for orders up to €10,000). HVB (rated 3.6/5, part of the UniCredit Group) also offers a slightly broader range with certificates and structured products than Targobank (3.5/5), which focuses on stocks, ETFs, bonds and funds plus personal branch advice and asset management. For cost-conscious self-directed investors HVB is usually cheaper; those seeking advice and asset management will find a fitting offering at Targobank. Neither offers options.

Find the broker that fits

HypoVereinsbank oder Targobank?

Side by side. Decided with knowledge.

See the differences that matter, and the Academy lessons that explain them.

See the comparison

HypoVereinsbank3.6

Strong parent company UniCredit
Free DirectDepot available
Comprehensive investment advice

Targobank3.5

BaFin-regulated bank with long history
Free online custody account
Personal advice in branches available

Fees
Platform
Regulation
Matching lessons

Two brokers. Many options. Your call.

Comparison Table

Criteria	HypoVereinsbank	Targobank
Rating	3.6/5 (950 reviews)✓	3.5/5 (850 reviews)
Regulation	BaFin	BaFin
Fees	Custody fee from €0 (HVB DirectDepot), order fee from €4.95 + 0.25%✓	Custody fee €0 (online), order fee from €8.90 (up to €10,000)
Min. Deposit	0 €	0 €
Instruments	Stocks, ETFs, Bonds, Funds, Certificates✓	Stocks, ETFs, Bonds, Funds
Platforms	HVB Web, HVB App	Targobank Web, Targobank App
Options Trading	No	No
Founded	1998	1926
Headquarters	München	Düsseldorf

Detailed Comparison

Fee Comparison

HypoVereinsbank

HypoVereinsbank: Custody fee from €0 (HVB DirectDepot), order fee from €4.95 + 0.25%. Minimum deposit: 0 €.

Targobank: Custody fee €0 (online), order fee from €8.90 (up to €10,000). Minimum deposit: 0 €.

Product Range

HypoVereinsbank

HypoVereinsbank (5 categories)

StocksETFsBondsFundsCertificates

Targobank (4 categories)

StocksETFsBondsFunds

Trading Platforms

HypoVereinsbank

HVB Web
HVB App

Targobank

Targobank Web
Targobank App

Regulation & Security

HypoVereinsbank is regulated by BaFin (HQ: München).

Targobank is regulated by BaFin (HQ: Düsseldorf).

Who Is It For?

HypoVereinsbank

Securities trading at HypoVereinsbank – part of the UniCredit Group

✓ Strong parent company UniCredit

✓ Free DirectDepot available

✓ Comprehensive investment advice

✗ Order fees on the higher side

✗ Branch advice comes with additional costs

Targobank

Securities trading and asset management at Targobank

✓ BaFin-regulated bank with long history

✓ Free online custody account

✓ Personal advice in branches available

✗ Higher order fees than discount brokers

✗ Limited selection of trading venues

In-Depth Analysis: HypoVereinsbank vs Targobank

Order fees and custody: Both banks offer a free online depot without a minimum deposit. On order fees HVB is usually cheaper: from €4.95 plus 0.25% of order value via the HVB DirectDepot versus from €8.90 at Targobank for orders up to €10,000. The difference matters especially on small and mid-sized order volumes.

Products: HVB offers stocks, ETFs, bonds, funds and certificates including structured products; Targobank offers stocks, ETFs, bonds and funds. Access to certificates is therefore a plus for HVB. Neither bank trades options or CFDs.

Profile and verdict: HVB (rated 3.6/5, Munich) belongs to the European UniCredit Group and offers comprehensive investment advice; Targobank (3.5/5, Düsseldorf) focuses on personal branch advice and asset management. For cost-conscious self-directed investors HVB is usually the stronger choice thanks to lower order fees and a broader range; those who value in-branch advice and asset management may prefer Targobank.

Frequently Asked Questions

Is HypoVereinsbank or Targobank cheaper?

HypoVereinsbank charges Custody fee from €0 (HVB DirectDepot), order fee from €4.95 + 0.25%. Targobank charges Custody fee €0 (online), order fee from €8.90 (up to €10,000). The minimum deposit is 0 € at HypoVereinsbank and 0 € at Targobank.

Which broker offers more products: HypoVereinsbank or Targobank?

HypoVereinsbank offers Stocks, ETFs, Bonds, Funds, Certificates. Targobank offers Stocks, ETFs, Bonds, Funds.

Which broker is better regulated?

HypoVereinsbank is regulated by BaFin. Targobank is regulated by BaFin. HypoVereinsbank has BaFin regulation, which is particularly advantageous for German investors. Targobank has BaFin regulation, which is particularly advantageous for German investors.

Is HypoVereinsbank or Targobank better for beginners?

HypoVereinsbank has a minimum deposit of 0 € and offers HVB Web, HVB App as platforms. Targobank has a minimum deposit of 0 € and offers Targobank Web, Targobank App. HypoVereinsbank has the lower entry barrier.

HypoVereinsbank vs Targobank: Which broker is better overall?

The choice between HypoVereinsbank (3.6/5, 950 reviews) and Targobank (3.5/5, 850 reviews) depends on your needs. HypoVereinsbank: Securities trading at HypoVereinsbank – part of the UniCredit Group. Targobank: Securities trading and asset management at Targobank.