How to invest in the S&P 500 from Europe (complete guide)

If you’re a European investor interested in the S&P 500, this guide walks you through the process of investing in this major index, step by step and with screenshots.

First thing you need to know: you can’t invest directly in the S&P 500.

Because an index is just a list of companies, you need a fund that tracks its performance, such as an ETF or an index fund. In practice, the result is almost the same, minus the fund’s small annual cost.

Choose an S&P 500 ETF

First, you need to select an ETF that tracks the S&P 500. As a European retail investor, you generally can’t buy US-domiciled ETFs like SPY or VOO, so you will use UCITS ETFs, which are domiciled in Europe (usually Ireland) and listed on European exchanges.

If you search on justETF, you’ll find dozens of ETFs tracking the S&P 500, with annual costs (TER) between 0.03% and 0.17%. These are some of the most popular:

ETF	TER	Dividends	Tickers
iShares Core S&P 500 UCITS ETF	0.07%	Accumulating	CSPX (LSE, USD), SXR8 (Xetra, EUR)
SPDR S&P 500 UCITS ETF (Acc)	0.03%	Accumulating	SPYL
SPDR S&P 500 UCITS ETF (Dist)	0.03%	Distributing	SPY5
Vanguard S&P 500 UCITS ETF	0.07%	Accumulating (VUAA) or distributing (VUSA)	VUAA, VUSA

Source: justETF and the fund providers, checked in September 2026.

The iShares ETF is by far the largest S&P 500 ETF in Europe, with more than €130 billion in assets, while the two SPDR share classes are the cheapest, with a TER of 0.03%.

Each ETF has different characteristics:

• Fund size: the total amount invested in the fund. Larger ETFs are generally more liquid, with smaller spreads.
• TER: the annual fee charged by the fund, already deducted from its performance.
• Distribution policy: accumulating ETFs reinvest dividends, while distributing ETFs pay them out. I’m based in Portugal, where dividends received are taxed, so I prefer accumulating ETFs, but the best choice depends on your tax situation.
• Replication: physical ETFs hold the actual stocks, while synthetic ETFs use derivatives (swaps) to replicate the index.
• Trading currency: the same ETF can trade in USD on one exchange and in EUR on another. If your account is in euros, buying a EUR line (such as SXR8 on Xetra) avoids a currency conversion at your broker, although the fund is still exposed to the US dollar.
• Theme: some ETFs only track part of the index (for example, the S&P 500 Information Technology sector), so their performance will be different.

In this guide, I’ll use the iShares Core S&P 500 UCITS ETF (CSPX), the largest S&P 500 ETF in Europe, and the SPDR S&P 500 UCITS ETF (SPY5), one of the cheapest, as examples.

Select a brokerage platform

Next, you need an online broker that lets you buy your chosen ETF. In this guide, I’ll show you how to do it with eToro, Interactive Brokers and Freedom24. eToro has the easiest app and suits beginners, Interactive Brokers is best if you don’t mind a more complex platform, and Freedom24 gives access to a wide range of markets and a welcome offer.

Many other brokers also offer S&P 500 ETFs. For a full comparison, see our ranking of the best online brokers for European investors.

Buying the S&P 500 on eToro

First, open an account on eToro and make a deposit. New users in eligible countries can get a welcome bonus worth up to $500.

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Then, search for the S&P 500 ETFs available on eToro:

Be aware that SPY5.L is a real UCITS ETF, while US ETFs such as VOO, SPY and SPXL are offered to EU clients as CFDs. Make sure you choose the real ETF, because CFDs are leveraged derivatives with different risks and costs.

Choose SPY5.L and set the order details:

• Leverage: choose no leverage (x1), so that you buy the real ETF.
• Take profit and stop loss: optional. If you’re investing for the long term, you don’t need them.
• Order type: a market order is executed at the current price, while a limit order is only executed if the ETF reaches the price you choose.

Click the trade button to confirm, and that’s it.

SPY5 trades in USD on the London Stock Exchange, so if your account is in euros, eToro converts your money when you buy and again when you sell.

eToro’s fees

eToro charges no commission on ETFs, although market spreads apply. The main cost for a European investor is the currency conversion: 0.75% when buying a USD asset from a EUR account. There is no inactivity fee since May 2026.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Buying the S&P 500 on Interactive Brokers

First, open an account on Interactive Brokers and make a deposit.

Interactive Brokers is less user-friendly than eToro, but it is one of the most reputable companies in the sector: it is listed on the Nasdaq, has been operating since 1978 and serves European clients through Interactive Brokers Ireland Limited, regulated by the Central Bank of Ireland.

Then, search for the CSPX ETF (or SXR8 if you want to buy the EUR line on Xetra):

Click “Buy” and choose the order details:

• Quantity: the number of shares or the amount of money you want to invest.
• Order type: market order (executed at the current price) or limit order (executed only at the price you choose or better).

Confirm the order, and that’s it.

Interactive Brokers’ fees

Interactive Brokers charges no account or custody fees and lets you hold many currencies, so you can keep USD in your account without converting it every time. When you do convert, the fee is very low (up to 0.002% of the amount, with a minimum of $2).

IBKR charges a commission on each ETF trade. On European exchanges and the Tiered plan, it is 0.05% of the trade value, with a minimum of €1.25 per order. It also pays interest on cash above €10,000 (1.688% on EUR as of 18 September 2026, for accounts worth at least $100,000).

Buying the S&P 500 on Freedom24

First, open an account on Freedom24 and make a deposit.

Freedom24 is an online broker offering access to stocks, ETFs, bonds and US options on exchanges in the US, Europe and Asia. It is run by Freedom Finance Europe Ltd, regulated by CySEC. New clients who register between 1 June and 31 October 2026 can get up to 20 gift shares, depending on the size of their first deposit (from €1,000). Gift shares are allocated randomly and their value varies. Terms apply, and the promotion is not available in every country.

Next, search for the CSPX ETF:

Select the ETF, click “Open session” on the right side and choose the order details:

• Order type: market order (executed at the current price) or limit order (executed only at the price you choose or better).
• Quantity: the number of shares or the amount of money you want to invest.

Confirm the order, and that’s it.

Freedom24’s fees

Freedom24 charges a commission on ETF trades, which depends on your plan. On the “Smart” plan, you pay €2 per order plus €0.02 per share. On the “All Inclusive” plan, you pay 0.50% of the trade value plus €0.012 per share, with a minimum of €1.20 per order. Withdrawals cost €7.

If you prefer to invest regularly, Freedom24 also offers ETF Investment plans. Commission-free investing applies exclusively to specific recurrent investment plans made through the Freedom24 Recurring Investment function, and other fees apply as per the Freedom24 Fee Schedule.

Want to know more? Read our Freedom24 review.

Conclusion

Choosing between Interactive Brokers, eToro and Freedom24 depends on your trading volume, experience and the features you value. For cost-conscious investors who don’t mind a more advanced platform, IBKR is likely the better option. For beginners who want a simple app and social trading, eToro is an easy starting point. Freedom24 suits investors who also want bonds and US options in the same account.

Whichever broker you choose, compare the ETF’s TER, whether it accumulates or distributes, and the currency it trades in. To see what the S&P 500 has returned in the past, check our articles on the S&P 500 average annual return in USD and in EUR.

Disclaimer: This article is for information only and is not investment advice. When investing, your capital is at risk and you may get back less than invested. Past performance doesn’t guarantee future results.