Franklin Carneiro da Silva
Asset 1Last Update: May 27, 2024

Quick summary (complete analysis below):

  • Interactive Brokers: Best overall investing app in Europe. Interactive Brokers is best for earning interest on uninvested cash balances, low fees, and is one of the most reputable brokers in all Europe, with the widest range of financial products available. On the downside, if you value user-friendliness, there are other alternatives with a more beginner-friendly interface.
  • eToro: Best for beginners, commission-free investing and social trading.
  • XTB: Best for CFDs, forex, and commission-free stocks and ETFs.
  • Trading 212: Best signup bonus, and also a great alternative for beginner investors. Offers interest on uninvested cash, a debit card, and commission-free trading. The app is slick and easy to use as well.
  • DEGIRO: DEGIRO is good because it has a high range of financial products and a simple platform. Is is not so user-friendly as Trading 212, and not so complicated as IBKR. On the downside, it offers no interest in uninvested cash, and fees are average.

How did we select our top 5 trading apps in Europe?

For both Android and iOS, there’s an endless range of trading apps in Europe.

We judged these apps on several criteria:

  • the app functionality and user-friendliness
  • the products you can trade,
  • how well-regulated they are,
  • the interest offered on uninvested cash balances,
  • the fees,
  • the minimum deposits, and
  • customer service.

We personally reviewed these apps, considering the needs of both newbie and pro traders.

Side by side comparison

Info/Brokers Interactive Brokers eToro XTB Trading 212 DEGIRO
Account minimum €0 $0 €0 €/£10 €0
Interest on cash EUR: 3.426%; Up to 5.3% in USD EUR: 4.20% first 90 days, then 2.00%; EUR: 4.20%; USD: 5.10%; GBP: 5.20% 0%
US stock fees Tiered plan: Up to $0.0035 per share (min. $0.35) $0 €0 €/£0 €2 per trade
EU stock fees Tiered plan: 0.05% of trade value (min. €1.25, máx. €29) $0 €0 €/£0 €4.90 per trade
ETFs Tiered plan: 0.05% of trade value (min. €1.25, máx. €29) $0 €0 €/£0 €1-€3 per trade
Fx fees Up to 0.0020% From 1.50% 0.50% 0.15% 0.25%
Regulators FINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS and MNB. FCA, CySEC and ASIC. FCA, KNF, CySEC, DFSA and FSC FCA, CySEC and FSC. AFM, DNB
Investor Protection Up to €20,000 Up to €20,000 Up to €20,000 Up to €20,000 for European investors. Up to €20,000

Pros and cons of each trading app

1# Interactive Brokers

Founded in 1977, Interactive Brokers is the most recognised investment platform in the world. Indeed, Interactive Brokers Group, is publicly listed on NASDAQ and supervised by several leading financial authorities.

It offers two trading apps:

  • IBKR Mobile: A highly functional mobile app for trading on the go. Users can trade stocks, options, futures, forex, and bond.
  • IBKR GlobalTrader: This is a newer, intuitive mobile trading app designed specifically for global investors. It simplifies the process of trading international stocks, ETFs and options, making it accessible for traders who may not be as familiar with complex trading platforms.

 

IBKR GlobalTrader

Besides, it offers two additional trading platforms (desktop):

  • Trader Workstation (TWS): A powerful, feature-rich platform ideal for advanced traders, offering extensive charting tools, real-time data, and customizable interfaces.
  • Client Portal: A user-friendly, web-based platform perfect for everyday trading and account management.

Fees Overview:

  • US Stocks: Interactive Brokers offers very competitive pricing for trading US stocks, with fees starting at $0.005 per share and going as low as $0.0005 per share, depending on your monthly trading volume.
  • EU Stocks: The fees for trading European stocks are also attractive, typically ranging from 0.05% to 0.1% of the trade value, with minimum and maximum around €1.25and €29.00 per order. This structure is particularly beneficial for smaller trades.
  • ETFs: European-listed ETFs follow the percentage-based fee model applied to EU stocks. Please note that, as an European investors, you cannot trade US-based ETFs.

Regulation and Security: Interactive Brokers operates under stringent regulatory oversight in Europe through its subsidiary, Interactive Brokers Ireland Limited, which is regulated by the Central Bank of Ireland (CBI). This ensures adherence to EU financial regulations and provides European clients with an additional layer of security and protection.

Customer Support Experience: The company offers multiple support channels, including live chat, phone, and email.

Pros:

  • Low Fees: Highly competitive pricing, particularly beneficial for active traders.
  • Platform Variety: A wide range of platforms catering to different trading styles and needs, including the intuitive IBKR GlobalTrader for easy international trading.
  • Regulation and Security: Strong regulatory oversight. IBKR is a publicly listed company, based in America, and is one of the most reputable brokers internationally.
  • Wide Range of Markets: Access to a broad array of global markets and asset classes.
  • Interest on uninvested cash

Cons:

  • Complexity: The array of features and tools can be overwhelming for beginners, requiring a steep learning curve.

Interested in learning more? Check out Interactive Brokers’ platform!

2# eToro

eToro is well-known for social trading and commission-free investing in stocks and ETFs (other fees may apply). The mobile app provides a seamless trading experience on the go, with all the functionality of the web platform. It is available for both Android and iOS devices.

Fees Overview:

  • US Stocks: eToro offers commission-free trading for US stocks. However, there is a spread fee, which varies depending on the stock’s liquidity and market conditions.
  • ETFs: eToro provides commission-free trading on ETFs as well, with only the spread fee to consider. This makes it an attractive option for ETF investors looking to minimize costs.
  • Currency conversion fee: eToro only accepts USD as the account currency, so if you deposit in a different currency, you’ll be charged a currency conversion fee. The currency conversion fee for EUR deposits is around 1.5%.
  • Other fees may apply, such as an inactivity fee if you don’t login for 12 months in your account.

Regulation and Security: eToro operates under stringent regulatory oversight in Europe through its subsidiary, eToro (Europe) Ltd., which is regulated by the Cyprus Securities and Exchange Commission (CySEC).

Pros:

  • Commission-Free Trading: No commission fees on US stocks, as well as ETFs, making it cost-effective for investors.
  • User-Friendly Platform: An intuitive interface suitable for both beginners and experienced traders.
  • Social Trading Features: Unique social trading options that allow users to follow and copy the trades of successful traders.
  • Regulation and Security: Strong regulatory oversight providing peace of mind to European traders.

Cons:

  • Spread Fees: While there are no commissions, the spread fees can add up, especially for frequent traders.
  • Only accepts USD as account currency, meaning you’ll be charged currency conversion costs when depositing Euros.
  • Limited Advanced Tools: More advanced traders may find the lack of sophisticated analytical tools and charting options limiting.

Interested in learning more? Check out eToro’s platform!

3# XTB

XTB is a well-established online trading platform known for its extensive range of assets and user-friendly interfaces. Catering to both novice and experienced traders, XTB offers a robust suite of tools designed to enhance trading efficiency and effectiveness. With strong regulatory oversight and competitive fees, XTB stands out as a reliable choice for European traders.

The trading app is xStation Mobile which offers a seamless trading experience with the same robust functionality as the web platform. Available for both Android and iOS, it allows users to trade, monitor markets, and manage their accounts from anywhere.

xtb trading app

Other trading platforms include (Desktop):

  • xStation 5: This is XTB’s flagship web-based platform, renowned for its intuitive design and powerful features. It includes advanced charting tools, real-time performance statistics, and a customizable interface, making it ideal for both new and seasoned traders.
  • MetaTrader 4 (MT4): XTB also supports MT4, one of the most popular trading platforms globally. MT4 is favored for its extensive range of technical analysis tools, automated trading capabilities, and a large community of users.

Regulation and Security: XTB operates under strict regulatory oversight from multiple authorities, including the Financial Conduct Authority (FCA) in the UK and the Polish Financial Supervision Authority (KNF). This ensures high standards of security and compliance with EU financial regulations, providing European clients with a secure trading environment.

Pros:

  • User-Friendly Platforms: XTB offers intuitive and powerful trading platforms like xStation 5 and xStation Mobile, which are suitable for traders of all experience levels.
  • Commission-free stocks and ETFs in certain European countries
  • Regulatory Oversight: Strong regulatory framework ensuring a secure and compliant trading environment.

Cons:

  • Limited Product Range: While XTB offers a wide range of assets, it may not have as extensive a selection as some larger brokers, including no bonds.
  • Platform Fees: Some users might find certain platform fees higher compared to other brokers.

Interested in learning more? Check out XTB’s platform!

4# Trading 212

Trading 212 is one of the most popular brokers in Europe. It offers low fees, including commission-free stocks and ETFs trading. Plus, the app is very intuitive and user-friendly, making it a great alternative for beginner investors.

Trading 212 also offers high interest in you uninvested cash, and a debit card which you can use.

New users get a free share:

Trading 212 Free Share Code

Pros:

  • User-Friendly Interface: Trading 212 platform is designed to be intuitive and easy to use, making it accessible for traders of all levels.
  • Regulatory Oversight: Strong regulatory framework ensuring a secure and compliant trading environment.
  • Wide Range of Assets: Extensive selection of stocks, ETFs, CFDs, and more.

Cons:

  • Limited Advanced Tools: The platform might lack some advanced charting and analytical tools sought by experienced traders.

Interested in learning more? Check out Trading 212’s platform!

#5 DEGIRO

DEGIRO is a well-known online brokerage firm offering a comprehensive range of investment options with average fees. Catering primarily to European traders, DEGIRO provides access to global financial markets, including stocks, bonds, ETFs, options, and futures. With a strong regulatory framework and a focus on cost-efficiency, DEGIRO is an attractive choice for both beginner and experienced investors.

The mobile app, available for both Android and iOS, ensures that traders can manage their investments on the go. The app offers a similar functionality to the web platform, including real-time quotes, order execution, and account management. It also offers the WebTrader, DEGIRO’s web-based platform is user-friendly and efficient, providing a wide array of tools for trading and analysis. It includes features such as real-time market data, portfolio management, and customizable watchlists.

degiro mobile app

Regulation and Security: DEGIRO operates under stringent regulatory oversight, primarily regulated by the Dutch Authority for the Financial Markets (AFM). This ensures adherence to high standards of financial regulation and security, providing European clients with a safe and reliable trading environment.

Pros:

  • Average Fees: DEGIRO is renowned for its low-cost trading fees, making it an economical choice for investors.
  • Wide Range of Assets: Access to a broad array of global financial markets, including stocks, bonds, ETFs, options, and futures.
  • Reputation:
  • User-Friendly Platforms: Intuitive and efficient web and mobile platforms that cater to both beginners and experienced traders.

Cons:

  • Research Tools: While functional, the platform’s research and analysis tools may not be as advanced as those offered by some competitors such as IBKR.
  • Offers no interest on uninvested cash.

Interested in learning more? Check out DEGIRO’s platform!

All in all

There are many trading apps in Europe. All have different target audiences and characteristics. Do you value commission-free trades? Do you want to earn interest in your uninvested cash? Do you value reputation and security above all?

We encourage you to explore the apps mentioned in this article and decide for yourself!

We hope this article has been helpful and that you feel confident in embarking on your next trading journey, whether you’re a newcomer or a returning investor.

Franklin Carneiro da Silva
Co-Fondatore e Analista Fintech

Franklin è un candidato CFA di livello III con 3 anni di esperienza nella gestione patrimoniale come analista di ricerche di fondi e presentatore del canale YouTube "Edge Over Hedge".

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