Quick summary (complete analysis below):
- Interactive Brokers (IBKR): The best overall broker in Europe.
- Trade Republic: Great for earning interest on idle cash and super simple to use.
- Trading 212: Perfect for ease of use, low-cost investing, interest on idle cash, and a free share bonus with our promo code “FINTECH”.
- Freedom24: Good for earning interest and a signup bonus.
- DEGIRO: Good for overall investing at relatively low costs, established track record.
- XTB: Great for commission-free stocks and ETFs (up to a certain amount) and for forex/CFD trading.
- eToro: Great for beginners, social trading, crypto, and commission-free investing in some products.
How to choose the right online broker
Choosing the right trading platform can feel overwhelming, especially if you’re just getting started. Which broker can you trust with your hard-earned money? How do you avoid unnecessary fees? And how do you pick an app that’s user-friendly while still offering the investment products you need?
Over the past few years, we’ve spent countless hours researching and comparing dozens of online brokers and trading apps across Europe to help investors like you get started. I’ve personally tested platforms to find those that best match the needs of both beginners and more experienced traders.
In this article, I share my top picks for European investors, focusing on factors like security, fees, product range, and ease of use. I’ll also point out where you can earn interest on idle cash or grab a signup bonus!
Side-by-Side Comparison (At a Glance)
| Broker | Interest on Idle Cash | Fees | Products |
|---|---|---|---|
| Interactive Brokers (IBKR) | Yes | US Stocks: from $0.0035/share (min. $0.35) EU Stocks/ETFs: 0.05% (min. €1.25, max. €29) FX: up to 0.0020% |
Stocks, ETFs, Bonds, Options, Futures, Funds, Forex |
| Trade Republic | Yes | Stocks/ETFs: €1 per trade | Stocks, ETFs, Bonds, Crypto, Derivatives |
| Trading 212 | Yes | Stocks/ETFs: €0 FX fee on currency conversion: 0.15% |
Stocks, ETFs, Fractional Shares, CFDs (Indices, Forex, Commodities) |
| Freedom24 | Yes | US Stocks: from $0.02/share (min. $2) EU Stocks: from €0.02/share (min. €2) |
Stocks, ETFs, Bonds, Options, Futures, IPOs |
| DEGIRO | No | US Stocks: ~€2 per trade EU Stocks: ~€4.90 per trade ETFs: ~€1-€3 per trade FX: 0.25% |
Stocks, ETFs, Funds, Bonds, Options, Futures, Warrants |
| XTB | Yes | Stocks/ETFs: 0% up to €100,000 monthly volume, then 0.2% (min. €10) FX conversion: ~0.50% |
Stocks, ETFs, CFDs (Forex, Indices, Commodities, Crypto) |
| eToro | No | Stocks/ETFs: 0% commission in most cases (some stocks cost $1 or $2 per trade) FX fee (currency conversion): ~1.50% |
Stocks, ETFs, Crypto, CFDs, Smart Portfolios |
Pros and cons of each broker (quick recap)
Interactive Brokers (IBKR)
A globally recognized, publicly listed broker founded in 1978. IBKR offers one of the widest product ranges and highly competitive fees. It stands out for its reliability, international reach, and interest on idle cash. The platform can be complex for beginners, but it’s a top choice for seasoned investors who need a broad selection of assets.
- Why it’s best: IBKR is a globally renowned and publicly listed company, founded in 1978, with an incredible range of financial products, super low fees, and interest on uninvested cash. It’s ideal if you’re serious about investing over the long term and want access to almost every type of instrument you can think of.
- Downside: The platform can be a bit complex, especially for beginners.
- Who it’s for: Long-term investors, experienced traders, and those who value reputation, security, and a massive product range above all else.
Trade Republic
A German-based platform focused on simplicity and low costs. It charges a flat €1 per trade for stocks and ETFs and pays interest on idle cash. Though product selection is simpler than IBKR’s, it covers key asset classes including bonds, crypto, and derivatives, making it very appealing to beginners who want a straightforward approach.
- Why it’s great: Trade Republic is a relatively new German broker that makes things easy: you can invest starting with just a few euros. It pays interest on uninvested cash (often over 3%), and the interface is beginner-friendly.
- Downside: Short track record and not as many advanced features or products.
- Who it’s for: Beginners who value simplicity and the chance to earn interest on money not currently invested.
Trading 212
A user-friendly platform offering zero-commission trading on stocks and ETFs, fractional shares, and interest on idle cash. Currency conversion fees are low. It also supports CFDs, giving access to indices, Forex, and commodities. Trading 212 is ideal for those who value ease of use and a low-cost structure.
- Why it’s great: Trading 212 is one of the most user-friendly apps in Europe. Commission-free trading on stocks and ETFs, fractional shares, plus interest on cash balances. If you use our promo code “FINTECH”, you’ll get a free share worth up to €100 when you sign up!
- Downside: Limited product range (no bonds or options, for example).
- Who it’s for: Beginners who want a straightforward experience and a nice signup perk.
Freedom24
- Why it’s good: Freedom24, a newer player, offers interest on your uninvested funds and often has special signup bonuses through our link.
- Downside: Not as established as IBKR or DEGIRO, and fees can be a bit tricky.
- Who it’s for: Investors who want to earn interest and those who want a bonus when signing up for a new platform.
This platform provides access to stocks, ETFs, bonds, options, plus interest on idle cash. With a transparent fee structure starting at $0.02/share for US stocks (minimum $2), it caters to both casual and more adventurous investors.
DEGIRO
One of the first low-cost European brokers, DEGIRO is well-known and trusted, offering a wide range of products. Its fees are competitive compared to traditional banks, though not always the lowest among online peers. It does not offer interest on idle cash and charges small connectivity fees, but it remains a solid, established option.
- Why it’s good: DEGIRO was one of the first low-cost brokers in Europe. It’s well-known, trusted, and offers a broad range of products like stocks, ETFs, and more.
- Downside: Fees are not as competitive as the newest fintech players, no interest on idle cash, and annual connectivity fees apply.
- Who it’s for: Investors who prefer a known, established broker with a solid track record and good trading app.
XTB
A long-standing European broker listed on the Warsaw Stock Exchange. XTB provides commission-free stock and ETF trading up to certain limits, interest on idle cash, and a variety of CFDs. It’s attractive for investors who want both traditional assets and leveraged products in one place.
- Why it’s good: XTB is listed on the Warsaw Stock Exchange, offers commission-free trading on stocks and ETFs up to a monthly volume cap, and is regulated by top-tier authorities. Also pays interest on idle cash.
- Downside: Could be more complex for newbies, and after you surpass the volume limit, fees kick in.
- Who it’s for: Those who value a well-established European company and might also be interested in forex or CFD trading.
eToro
Famous for its social trading features, eToro allows investors to trade stocks, ETFs, crypto, and CFDs. Although it often offers zero-commission on stocks and ETFs, watch out for currency conversion fees and spreads. It’s appealing for beginners who appreciate an engaging, community-driven platform.
- Why it’s popular: eToro’s social trading features let you copy other investors, which is appealing if you’re new and want some guidance. It offers commission-free trading on many stocks and ETFs (other fees apply). It’s also regulated in Europe.
- Downside: Spreads can be high, and you need to be careful to invest in the real asset, not a CFD.
- Who it’s for: Beginners who find the idea of social trading exciting and who are interested in cryptocurrencies.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Conclusion
Each broker has its unique strengths and weaknesses. If you prioritize safety, long-term trust, and a broad range of products, Interactive Brokers is one of our top picks. If you’re a beginner who wants simplicity, interest on your idle funds, and maybe a little bonus, Trading 212 (with promo code “FINTECH”) or Trade Republic are great starting points. DEGIRO is a stable, well-known option, while Freedom24 and XTB offer their own niche advantages. If you love the idea of social trading or crypto investing, eToro might suit you best.
Ultimately, the “best” broker depends on your personal investing style, goals, and preferences. Take your time, compare a few, and don’t be afraid to try out demo accounts (where available) before committing. Remember, investing involves risk of loss, so always do your research and, if needed, consult a qualified professional.
Disclaimer: This article is for informational and educational purposes only and is not financial advice. All investments carry risk. Always do your own research and, if necessary, seek independent financial advice before making any investment decisions.
Pedro is passionate about finance, marketing, and technology. He is a growth manager at several online projects and a former digital marketer for a fintech company.
