The vast number of investment platforms available in Europe makes finding the best one for your needs a real challenge.
Factors such as security, costs, and ease of use influence your decision. Moreover, choosing a broker is not just a matter of convenience but a crucial step that can directly impact your investment results and experience.
Remember that security is more important than low costs! It’s essential to choose a broker you can trust and rely on for the next 10 or 20 years.
In this article, we will explore what we consider to be the best brokers in Europe, analyzing their pros and cons, the services they offer, and who they are best suited for, helping you make an informed decision aligned with your financial goals.
The best brokers in Europe
- Interactive Brokers: The most complete broker in Europe. It may be complex for beginners.
- Trade Republic: Ideal for beginners and earning interest on uninvested money.
- XTB: Best for investing in stocks and ETFs listed in euros.
- Trading 212: Ideal for beginners and earning interest on capital. Similar to Trade Republic. New users get a free share.
- DEGIRO: Best for low costs. It is an established broker but, on average, more expensive than the others. It does not pay interest on uninvested capital.
- Lightyear: Another good alternative for beginners.
For higher amounts, Interactive Brokers is a solid solution. It is the broker with the highest assets under management and the oldest.
If you are a beginner or want to invest with low commissions, any of the other options are valid.
As of March 12, 2025.
In addition to transaction fees, you may also encounter other costs, such as a connectivity fee. In this case, DEGIRO is the only broker charging it (2.50€ per year per exchange).
Review of each broker
Interactive Brokers
- Minimum deposit: 0€
- Currency conversion fee: 0.002% (minimum 2$)
- Regulators: FINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS, MNB
- Demo account: Yes
Founded in 1978 and listed on NASDAQ (ticker: IBKR), Interactive Brokers is one of the most renowned and innovative brokers globally. It is considered the "Ferrari" of investment platforms.
Interactive Brokers offers one of the most competitive fee structures on the market, making it an excellent choice for European investors. For US stocks, commissions start at 0.005$ per share, with a minimum of 1$ per transaction, while for European ETFs, costs are 0.05% of the order value (min. 1.25€, max. 29€).
In terms of regulation, "Interactive Brokers Ireland Limited," the subsidiary through which European investors register, is regulated by the Central Bank of Ireland. Assets (including cash) are protected up to 20,000€.
Moreover, within the European regulatory framework, it adopts strict fund segregation and risk management mechanisms, ensuring the security of its clients' assets even in times of financial stress.
Although the main platform (TWS WorkStation) is advanced and suitable for professional investors, there is also the "Web Portal" version and the "IBKR GlobalTrader" app, which are more suitable for beginners.
In summary, it is an excellent choice for European investors looking for an accessible, secure, and versatile platform for global investing.
Note: Interactive Brokers offers two commission plans: "Tiered" and "Fixed". The commissions mentioned here refer to the "Tiered" plan, which, based on our experience, is the most cost-effective option.
Pros
- Low commissions for U.S. stocks
- Widest range of products and markets in the brokerage industry
- Demo account available
- Excellent reputation (founded in 1978)
- Comprehensive research and educational tools
- A modern app for stocks, options, and ETFs, ideal for beginner investors (IBKR GlobalTrader)
- Pays interest on uninvested cash balances
Cons
- Complicated and time-consuming account opening process (but fully online)
- Steep learning curve for beginners
- Difficult-to-navigate website
Trade Republic
- Minimum deposit: 0€
- Currency conversion fee: Not applicable (for investments)
- Regulators: BaFin
- Demo account: No
Founded in 2015, Trade Republic is a low-cost broker based in Berlin, Germany. It focuses on five types of financial assets: stocks, ETFs, bonds, cryptocurrencies, and derivatives. Stocks and ETFs can be traded daily from 7:30 AM to 11:00 PM, cryptocurrencies 24/7, and derivatives from 8:00 AM to 10:00 PM.
Adopting the slogan "The smartest way to invest, spend, and save", Trade Republic stands out as a commission-free platform. However, it applies an external settlement fee of €1 per transaction (except for savings plans), meaning that, in practice, you will pay at least €2 (€1 to buy and €1 to sell). Despite this, it remains competitive, though not entirely free of fees.
Trade Republic was the first European broker to increase the interest rate paid on euros after many years of zero or low interest rates due to European Central Bank (ECB) policies. Currently, uninvested cash in your account (up to €50,000) earns 2.50% per year (paid monthly).
It also offers a virtual debit card (free), a Classic card (€5 to order), and a Mirror card (€50 to order). If you withdraw more than €100 from ATMs, you pay no fee. If you make a purchase in a currency other than euros, the exchange rate applied is the market rate.
Finally, it is also the first European broker to allow investment in corporate and government bonds starting from just €1 through fractional positions.
Want to know more about Trade Republic? Check our article analyzing Trade Republic's safety.
Pros
- Automatic savings plans
- Interest paid on uninvested cash balances
- Investments starting from just €1
- No minimum deposit required
- Direct debit for savings plans
Cons
- A fixed external fee of €1 per transaction (except for savings plans)
- No demo account is available
- Only one base currency (EUR)
- No direct access to U.S. stock exchanges
XTB
- Minimum deposit: 0€
- Currency conversion fee: 0.50%
- Regulators: KNF, FCA, CySEC, DFSA, and FSC
- Demo account: Yes
Founded in 2002, XTB is one of the leading brokers in Europe. It is listed on the Warsaw Stock Exchange.
XTB allows you to invest through the xStation 5 and xStation Mobile platforms in various financial products, including stocks, ETFs, stock CFDs, Forex, indices, commodities, and cryptocurrencies. XTB offers 0% commission on stocks and ETFs for trading volumes up to €100,000 per month. For investments above this limit, a 0.2% commission applies (minimum €10).
For beginners, XTB provides a demo account that allows trading as if using real money, helping users get hands-on experience with the platform. Additionally, it offers educational tools to support learning. For intermediate and advanced investors, XTB provides a wide range of technical and fundamental analysis tools to enhance investment decision-making.
XTB also pays interest on uninvested funds and offers an eWallet, which provides a multi-currency card, allowing you to make payments without any account maintenance fees.
On the downside, XTB charges an inactivity fee of €10 per month after one year of no transactions and if no deposits have been made in the last 90 days.
Want to know more? Check our in-depth XTB review.
Pros
- Commission-free trading on stocks/ETFs
- Customizable trading platform (charts and workspace)
- Low Forex spreads
- Demo account available
- No minimum deposit required
- Educational materials available
Cons
- Trading platform can be complex for beginners
- Limited product portfolio
- Withdrawal fees for transfers below €100
- Inactivity fee (€10/month after more than 1 year of inactivity and no deposits in the last 90 days)
- Still heavily relies on CFDs, which are high-risk derivative instruments—potentially a downside for long-term "buy and hold" investors
Trading 212
- Minimum deposit: 10€
- Currency conversion fee: 0.15%
- Regulators: CySEC, ASIC, FCA, FSC
- Demo account: No
Founded in 2006 and with over 4 million investors, Trading 212 is a London-based fintech that aims to democratize investing through a simple investment platform, allowing anyone to trade over 10,000 stocks and ETFs, as well as CFDs on stocks, ETFs, indices, Forex, and commodities. The platform also offers a free stock worth up to €100!
With Trading 212, you can trade stocks and ETFs commission-free, invest in fractional shares, and use an automatic investment system (AutoInvest). However, there are some limitations on available products, such as the lack of bonds and options.
Opening an account is quick and easy. Within the app, you will have access to two different account types:
- Trading 212 Invest: Allows commission-free trading of stocks and ETFs.
- Trading 212 CFD: Allows trading of leveraged financial products (CFDs).
In Trading 212 CFD, the currency conversion fee (FX fee) is higher (0.50%) than in Trading 212 Invest (0.15%). Notably, on the Trading 212 debit card, there is no currency conversion fee for payments in different currencies. Additionally, with this card, you earn 0.50% cashback on all purchases, up to a maximum of 23€ per month.
The minimum deposit is 10€. There are no deposit fees for bank transfers (other options include credit/debit cards and Google/Apple Pay). Withdrawals are completely fee-free, regardless of the method used.
Want to know more? Check our in-depth analysis on the safety of Trading 212.
Pros
- Commission-free trading on stocks and ETFs (other fees may apply)
- AutoInvest & Pies feature
- Easy and fast account opening
- Demo account available
- Offers a free fractional share worth up to 100€ with a promo code
- Pays interest on uninvested capital
Cons
- Limited range of available financial products (does not offer options, bonds, investment funds, or futures)
- Lack of relevant fundamental analysis tools
- 0.15% fee on foreign currency exchanges
DEGIRO
- Minimum deposit: 0€
- Currency conversion fee: 0.25%
- Regulators: BaFin, DNB, and AFM
- Demo account: No
DEGIRO was one of the first low-cost brokers to enter Europe (I still remember opening an account in 2018). Compared to traditional banks, it is an ideal alternative to minimize trading costs, as it does not charge fees for inactivity, deposits, or withdrawals.
However, compared to its competitors in this article, DEGIRO has higher trading commissions:
- €1 transaction fee for U.S. stocks
- Starting from €3.90 for European stocks
- Up to €2 per ETF
Additionally, it charges a €1 handling fee for most products and an annual connectivity fee of €2.50 per exchange.
In terms of investment products, in addition to stocks and ETFs, DEGIRO offers investment funds, bonds, futures, options, and warrants, with the ability to trade in both pre-market and post-market sessions.
DEGIRO's web platform has a modern and intuitive design that is continuously updated with new features based on customer feedback. For example, you can create a favourites list and access the latest news about your portfolio.
Pros
- Popular ETF selection list (external fees may apply)
- Easy-to-use web and mobile application
- Wide variety of investment options
- Educational resources: Investor Academy
- Low commission structure
- No account opening, inactivity, or withdrawal fees
Cons
- 0.25% currency conversion fee
- A fixed handling fee of €1 (applied to most transactions)
- 2.50€ annual connectivity fee per exchange
- Poor customer support quality
- Does not pay interest on uninvested cash balances
Lightyear
- Minimum deposit: 1€
- Currency conversion fee: 0.35%
- Regulators: EFSA, FCA
- Demo account: No
Founded in 2020, Lightyear is a recent European investment platform operated by Lightyear Europe AS, authorized and regulated by the Estonian Financial Supervision Authority (EFSA), with client assets protected up to 20,000€.
There are no execution fees for ETF trading. For stocks, commissions do not exceed 1€ per order, and there is a fixed 0.35% currency conversion fee (this fee can be reduced using the multi-currency account available in euros, British pounds, and U.S. dollars).
Lightyear offers some of the highest interest rates on uninvested cash (as of March 18th, 2025):
- EUR: 2.55%
- USD: 4.38%
- GBP: 4.61%
This broker is ideal for beginner and intermediate investors, allowing fractional share investments. With an easy-to-use app and over 4,000 stocks available from the U.S., UK, European, and Asian markets, Lightyear is a good option for gaining exposure to the stock market.
However, there are some limitations with the Lightyear platform: the range of products is limited (no options, commodities, or Forex), and no demo account is available.
Pros
- Minimum deposit of just 1€
- 0% execution fees for ETF trading (other fees may apply)
- No account opening, inactivity, or withdrawal fees
- High interest rates on uninvested cash
- Fractional shares available
Cons
- Limited trading options
- No demo account
- 0.35% currency conversion fee
Criteria used in choosing the brokers
The summary of the broker selection in the list above was based on criteria that, in our view, meet the needs of most investors reading this article.
With that in mind, here are the factors considered:
1. Security and asset protection (including uninvested cash)
All selected brokers are regulated by a European Union country. We also analyzed fund protection mechanisms, such as deposit insurance or account segregation, to ensure that investors' assets are properly safeguarded. Check this video for more details:
2. Costs and fees
Costs can significantly impact any investor's returns. We evaluated trading fees (spreads, commissions per trade), inactivity fees, currency exchange fees, and any other associated charges. Priority was given to brokers with competitive costs or even commission-free structures for certain products, such as stocks and ETFs.
3. Variety of available products
The diversity of assets available is essential to cater to different investor profiles. We considered platforms that offer a broad range of products, including stocks, ETFs, bonds, and even more specific products like derivatives and cryptocurrencies.
4. Ease of use
User experience is crucial, especially for beginners. We evaluated the platform's usability, from account registration and deposit process to trade execution and advanced features for experienced investors. Simple and intuitive interfaces were considered a positive factor.
5. Specific features
Each broker was assessed based on unique features that may benefit specific types of investors:
- Interactive Brokers: Focus on a comprehensive range of products and advanced tools.
- Trade Republic: Option to earn interest on uninvested cash.
- XTB: Comprehensive offering of stocks and ETFs listed in euros.
- Trading 212: Ease of using the debit card for everyday transactions.
- DEGIRO: Ideal for long-term strategies due to low costs.
- Lightyear: Designed for beginners, with a smoother learning curve.
6. Quality of customer support
Customer support can make a difference in critical situations. We analyzed availability, speed, and effectiveness in resolving issues, as well as the available communication channels (chat, email, phone).
Investor compensation scheme
The Investor Compensation Scheme (ICS) is the last safeguard for investors. When everything goes wrong, the ICS steps in to provide protection.
In the table below, we highlight the regulators of origin for each broker and the coverage limits (those applicable to European investors):
Which broker to choose?
Choosing the best broker in Europe is not a simple task, but ensuring security, cost-effectiveness, and convenience in your investment operations is essential. There is no "perfect" broker - each has strengths and weaknesses.
Interactive Brokers is an excellent choice if you are looking for a comprehensive and robust solution for diversified investments. For those who prefer simple and accessible platforms, brokers like Trade Republic, Trading 212, or Lightyear are good options.
Regardless of your choice, it is essential to consider factors such as security, costs, and available features. Remember that a well-informed decision today can make a significant difference in the future of your investments. Carefully evaluate your options and choose the broker best suits your needs and financial goals.
