How does a children's account work?

As an alternative to open-ended, actively managed investment funds, exchange traded funds (ETFs) have become established in recent years.

An ETF tracks a given index as closely as possible and adjusts its composition to match its reference value.

When you buy an MDAX ETF, for example, you get all the securities included in the MDAX in exactly their current market composition. If the composition of the MDAX changes, the composition of your ETF changes too.

As a result, the management and administration fees for an ETF are significantly lower. On average they are around 0.17 percent of the invested amount per year. When a fund manager actively looks after your investment funds, the costs rise to 1.5 to 2.5 percent per year.

At the same time, many studies show that in over 90 percent of cases an active fund manager cannot beat the index over the long term.

If you opt for our Global Portfolio, you invest across the entire breadth of the market. From the risk you are willing to take, we derive the composition of your portfolio. More equities mean more risk – but also higher return opportunities. More bonds, by contrast, reduce the risk – but also the return opportunities.

The Global Portfolio is generally suitable for building wealth. You can also take out our Global Portfolio in a sustainable variant.

First, you register via “Open account” on our portal. To do so, you sign up with your email address and a password of your choice.

You then receive a PIN code by email to verify your email address. Once you have entered this PIN code, your personal details, contact details and ID details are recorded.

Finally, you verify your identity by VideoIdent (in the quirion app or on your computer), with the online ID function (eID) or with PostIdent at a Deutsche Post branch. Your quirion account is then opened for you without delay.

quirion has to be certain that you really are the person for whom the account or the securities account is being opened.

For banks, the German Anti-Money Laundering Act requires an identity verification check.

With quirion, you have the choice:

You can verify your identity by VideoIdent, in the quirion app or on your computer.

You can also use the online ID function (eID) of your identity card, or verify your identity with PostIdent at a Deutsche Post branch.

For this you need a valid identity card or your passport plus proof of address (e.g. a phone bill).

The easiest way is to verify your identity with our app.

Once identity verification is complete, we receive your data and can then open your account.