Comdirect
Weighted across nine legal categories. Lower is worse.
Executive summary
This is the short terms of use for the comdirect website, not the contract for your bank account. It says the site is only meant for private individuals living in Germany and that all market data and analysis content is for information only. The biggest concern is that comdirect repeatedly disclaims any responsibility for the accuracy or completeness of the information it shows you, with no exceptions stated. It also bans linking to its pages without written permission and reserves the right to remove community members at any time without a stated process. Privacy, payments, and dispute rules are barely addressed here, so you need to read comdirect's separate banking terms and privacy policy for those.
Category breakdown
Acceptance of Terms & Scope
Contract formation and service boundaries
These are browsewrap website terms. There is no described acceptance step, no checkbox, and no explanation of when you become bound, so you are treated as agreeing just by using the site. The scope itself is stated clearly: the site is for private use by individuals living in Germany, and access from elsewhere is at your own risk.
Key findings
- No acceptance mechanism is described, which points to a browsewrap agreement that binds you through mere use of the site
- Scope is limited to private, non-commercial use by natural persons living in Germany
- Users accessing from other countries do so at their own risk and comdirect disclaims suitability of the content for other jurisdictions
- Securities analysis content is restricted to German residents and expressly excludes residents of the USA, Canada, and Great Britain
- No age requirements or capacity rules are stated
Evidence from the document
sind ausschließlich zur privaten Nutzung durch natürliche Personen mit Wohnsitz in Deutschland bestimmt
von anderen Orten aus zugreifen, tun dies aus eigenem Antrieb und auf eigenes Risiko.
Sie richten sich ausschließlich an Kunden, die ihren Wohnsitz in der Bundesrepublik Deutschland haben.
Recommendations
- Treat these terms as binding the moment you browse the site, since no separate acceptance step protects you
- If you live outside Germany, be aware comdirect states the content may not be lawful or usable where you are
- Read the separate banking terms (AGB) before opening an account, because this document does not cover the banking relationship
User Accounts
Registration, suspension, and termination
Bank accounts are not covered here, but community membership is. comdirect reserves the right to delete content, switch it off, and exclude members from the community at any time, with no notice period, no criteria beyond the listed prohibited content, and no appeal process. That is broad discretion, though it only applies to the forums, not your banking relationship.
Key findings
- comdirect can exclude community members and delete their content at any time
- No notice, warning, or cure period before exclusion is mentioned
- No appeal or review process is offered for content removal or exclusion
- Prohibited forum conduct is at least listed: defamation, reputation-damaging statements, advertising, and illegal content
- Banking account opening, suspension, and closure are not governed by this document
Evidence from the document
comdirect behält sich vor, entsprechende Inhalte jederzeit zu löschen, abzuschalten und Mitglieder von der Nutzung der Community auszuschließen.
Das Verbreiten von Verleumdungen, ruf- oder geschäftsschädigenden Äußerungen, Inhalten mit werbendem Charakter sowie von Beiträgen illegalen Inhalts in den Foren der von comdirect angebotenen Community ist untersagt.
Recommendations
- Keep copies of anything you post in the comdirect community, since it can be deleted at any time
- Avoid promotional or borderline content in the forums, because exclusion can happen without warning
- Check the separate banking AGB for the rules that actually govern your bank account
Intellectual Property & UGC
Content ownership and licensing
comdirect and FactSet claim copyright over the entire website including layout, source code, and content, and you may only retrieve or copy material for private, non-commercial use. Anything beyond that requires prior written consent, and even setting a simple hyperlink to the site from another website is expressly forbidden without written permission, which is unusually restrictive. The document takes no license over your forum posts, which is a small positive.
Key findings
- comdirect and FactSet hold copyright and other protective rights over all website content and code
- Copying, saving, and editing site content is allowed only for private, non-commercial use
- Any further use requires prior written consent from comdirect
- Hyperlinks and inline links to the site from other websites are prohibited without written consent, including framing
- Copyright notices and trademarks may not be altered or removed
- No license grant over user forum posts is claimed in this document
Evidence from the document
An allen Webseiten inklusive Layout, Quelltext, Software und deren Inhalte besitzen comdirect und FactSet das Urheberrecht und sonstige Schutzrechte.
darf allein zum privaten, nicht kommerziellen Gebrauch vorgenommen werden.
Die Einrichtung eines Hyper- und eines Inline-Links von anderen Webseiten auf eine der zu diesem Online-Angebot gehörenden Webseiten, ohne vorherige schriftliche Zustimmung von comdirect, wird ausdrücklich untersagt.
Alle darüberhinausgehenden Handlungen bedürfen einer vorherigen schriftlichen Zustimmung durch comdirect.
Recommendations
- Do not republish or share comdirect market data, analyses, or screenshots beyond private use without written permission
- Do not link to comdirect pages from your own website or blog without asking first, since the terms forbid it
- Keep your own copies of anything you post in the community
Data Privacy
Data collection, usage, and protection
Privacy gets a single sentence: comdirect assures you that personal data is collected, stored, and handled with the greatest care and in compliance with the relevant laws. There is no detail on what is collected, why, who it is shared with, or what rights you have, and this document does not point you to the privacy policy. The topic is essentially delegated to other documents, so this is a neutral score with low confidence.
Key findings
- Only one general assurance about careful, lawful handling of personal data
- No description of data types collected, purposes, retention, or third-party sharing
- No mention of GDPR rights such as access, deletion, or objection
- As a German bank, comdirect is subject to GDPR regardless of what this page says
Evidence from the document
comdirect versichert Ihnen, dass Ihre persönlichen Daten mit der größten Sorgfalt und unter Einhaltung der entsprechenden Gesetze erhoben, gespeichert und behandelt werden.
Recommendations
- Read comdirect's separate Datenschutzerklärung (privacy policy) for the actual data practices
- Use your GDPR rights of access and deletion directly with the bank if you have concerns
- Do not rely on this one-sentence assurance as a complete picture of data handling
Payment & Subscriptions
Billing and subscription management
This document does not cover payments, fees, subscriptions, or renewals at all. The website and the Informer data service are presented as free information offerings, and all pricing for banking products sits in separate documents. Neutral score with low confidence because the category is not addressed.
Key findings
- No payment, fee, subscription, or renewal terms appear in this document
- Market data is provided free as an information service, typically delayed 15 to 20 minutes or realtime depending on the exchange
- Banking and brokerage fees are governed by separate price lists not included here
Evidence from the document
Alle Kursinformationen werden je nach ausgewählter Börse und Typ eines Wertpapiers unterschiedlich, i.d.R. 15-20 Minuten zeitverzögert oder realtime dargestellt.
Recommendations
- Check comdirect's separate price and service list (Preis- und Leistungsverzeichnis) for all account and trading fees
- Do not assume anything about billing from these website terms
Limitation of Liability
Risk allocation and legal protection
The document contains repeated blanket disclaimers. comdirect accepts no warranty of any kind for the completeness, correctness, or accuracy of the market data, prices, news, and other content, and one data supplier also disclaims all liability. There are no stated exceptions, no carve-out for negligence or intent, and no cap that preserves a remedy. German law would override the worst of this, but the text itself offers you almost nothing if bad data causes you a loss.
Key findings
- Information is provided without any warranty for completeness, correctness, or accuracy
- comdirect and FactSet jointly disclaim responsibility for all market data, prices, indices, news, and other content
- Users accessing from outside Germany act at their own risk
- WM Datenservice, a data source, also disclaims liability for its data
- No carve-outs for gross negligence, intent, or injury are stated, which German law would normally require
- Content is declared information only and not investment advice, shifting decision risk fully to you
Evidence from the document
Die Informationen werden ausschließlich zur privaten Nutzung ohne Gewähr für Vollständigkeit, Richtigkeit und Genauigkeit zur Verfügung gestellt.
comdirect und FactSet übernehmen trotz sorgfältiger Beschaffung und Bereitstellung keine Gewähr für die Richtigkeit, Vollständigkeit oder Genauigkeit
comdirect übernimmt keinerlei Gewähr im Hinblick darauf, dass die Informationen auf diesen Webseiten für die Nutzung an anderen Orten geeignet oder verwendbar sind.
WM Datenservice (WM Datenservice übernimmt keine Haftung für die Vollständigkeit und Richtigkeit der Daten)
Recommendations
- Verify prices and market data with a second source before placing significant trades
- Do not treat Informer content or analyses as advice; comdirect expressly disclaims that role
- Know that German consumer law limits how far these blanket disclaimers can actually reach, despite the wording
- Document any loss caused by wrong data immediately, since the terms give you no contractual remedy
Indemnification
Legal responsibility allocation
The document contains no indemnification clause. You are not asked to cover comdirect's legal costs or defend it against third-party claims, which is better than the one-sided indemnity clauses common in consumer terms. Score is slightly above neutral with low confidence because the topic is simply absent.
Key findings
- No clause requires you to indemnify or hold comdirect harmless
- No obligation to cover the company's legal fees or third-party claims
- The absence of a one-sided indemnity is consumer-friendly compared to typical platform terms
Recommendations
- Check the separate banking AGB for any indemnity obligations tied to your actual account
- No special action needed for this document
Modification of Terms
How agreements can be changed
The document says nothing about how these terms can change or how you would be notified. For browsewrap website terms this usually means the page can be updated silently at any time, with continued use as implied acceptance. Because nothing is stated either way, this is a neutral score with low confidence.
Key findings
- No clause describes how or when the terms may be changed
- No notice or consent process for changes is promised
- Silent updates to a browsewrap page are the practical default, which weakens your position
- comdirect does reserve the right to remove community content at any time, showing a pattern of unilateral discretion
Recommendations
- Recheck this page periodically, since changes will not be announced to you
- Save a dated copy of the terms as they stand when you start using the service
Governing Law & Disputes
Jurisdiction and conflict resolution
The document contains no governing law clause, no jurisdiction clause, no arbitration requirement, and no class action waiver. The strong red flags of forced arbitration and waived collective rights are absent, and the German consumer context implies German law and EU consumer protections apply. Neutral score with low confidence because the topic is not expressly addressed.
Key findings
- No forced arbitration clause and no class action waiver
- No express choice of law or forum, though the document is aimed at residents of Germany
- German and EU consumer protection law would apply by default for German consumers
- Criminal law on market manipulation is referenced, but no civil dispute process is described
Evidence from the document
Die Verbreitung falscher Tatsachen mit dem Ziel, Börsenpreise zu manipulieren, ist mit Strafe bedroht.
Recommendations
- As a German consumer you can rely on German courts and EU consumer rules by default
- Check the banking AGB for the dispute and ombudsman procedures that govern your actual account
- Use the Commerzbank group's complaint and banking ombudsman channels for account disputes
Ex-TerCo provides automated analysis of legal documents for informational purposes. This is not legal advice. Terms can change at any time.