Quick summary:
- Trading 212: The most similar to Trade Republic. Trading 212 offers high interest on uninvested cash in several currencies, a debit card, commission-free investing, and even a free share with our promo codes “IITW” or “FINTECH”.
- Interactive Brokers: Best for large amounts and serious investors. IBKR is a long-established broker with an extensive product selection (stocks, bonds, options, futures) and ultra-competitive fees. It does not offer a debit card, and interest is not paid in your first $10,000 invested. As such, it targets mostly higher investment amounts and more experienced investors.
- Freedom24: Best alternative for sign-up bonuses and earning interest. Besides competitive interest on idle cash, you might find bonus incentives for new accounts and you can also invest in several products including stocks, ETFs, and more.
Trade Republic’s simplicity, interest on idle cash, and easy saving plans have earned it a loyal following.
But what if you’ve already maxed out their savings cap, or you’re looking for a bit more variety or potentially better rates?
After personally exploring several platforms, these three stand out as strong contenders!
Side-by-side comparison
| Feature | Trading 212 | Freedom24 | Interactive Brokers (IBKR) |
|---|---|---|---|
| Interest on EUR (Approx.) | ~3.7% p.a. | Competitive, varies (often around 3%+) | ~2.349% p.a. (as of January 2025) |
| US Stock Fees | Commission-free (0.15% FX fee) | From ~$0.02/share (depends on chosen plan) | Tiered: $0.0035/share (min. $0.35) |
| EU Stock Fees | Commission-free | Varies, generally low | ~0.05% (min. €1.25) |
| Account Minimum | €10 | €0 | €0 |
| Demo Account | Yes | No | Yes |
| Debit Card | Yes | No | No |
| User-Friendliness | Very high (beginner-friendly) | Moderate (slightly more complex) | Lower (steep learning curve) |
| Product Range | Stocks, ETFs, some CFDs, limited instruments | Stocks, ETFs, Options, Bonds, Futures | Extremely broad (stocks, ETFs, options, futures, bonds, FX) |
| Sign-Up Bonus/Promo | Free share up to €100 | Yes, occasional sign-up bonuses | Not typically (may vary by region) |
| Regulation & Deposit Protection | FCA, CySEC, FSC. | CySEC | Multiple top-tier regulators (SEC, FCA, etc.). |
| Currency Conversion Fee | ~0.15% | Depends on plan, not always zero | Very low (~0.002%) |
Trading 212: the closes alternative
I find Trading 212 to be one of the closest matches to Trade Republic’s user-friendliness.
It’s also known for commission-free stock and ETF trading – no €1 settlement fees per trade. On top of that, you currently earn around 3.7%+ interest on your uninvested EUR, and you can access your funds easily with their debit card.
It feels as straightforward as Trade Republic, but you save a bit on transaction fees, and the interest rates on idle cash are competitive. Plus, you might snag a free share when signing up with our promo codes “IITW” or “FINTECH”.
On the downside, the product range is somewhat limited compared to larger brokers (no bonds, futures, or options).
Want to learn more? Visit Trading 212’s website!
Freedom24: best to diversify your holdings
If you’re looking to diversify your holdings and have a more expansive product range than Trade Republic, Freedom24 might be a good alternative. With periodic promotions for new users and high interest on your idle cash, it can provide a nice boost right from the start.
Freedom24 often feels like a middle ground – still relatively user-friendly, but offering more market variety, including bonds and options. The interest rates may not always match Trade Republic’s, but they’re still quite good, and the bonus offers can make a real difference.
If you’re looking to diversify your holdings and have a more expansive product range than Trade Republic, Freedom24 might be a good alternative. With periodic promotions for new users and high interest on your idle cash, it can provide a nice boost right from the start.
Freedom24 often feels like a middle ground – still relatively user-friendly, but offering more market variety, including bonds and options. The interest rates may not always match Trade Republic’s, but they’re still quite good, and the bonus offers can make a real difference.
On the downside, the interface may feel less intuitive than some “mobile-first” platforms. Plus, fees can be higher than Trade Republic if you’re not careful about the trading plan you select.
Want to learn more? Visit Freedom24’s website.
Interactive Brokers (IBKR): best for advanced investors
For those ready to step up their investing game, IBKR is a powerhouse. It’s been around for decades, weathering multiple market cycles, and offers nearly every product under the sun—stocks, ETFs, options, futures, bonds, and more. Fees are particularly low for U.S. stock trading, making it ideal if you plan to trade larger sums or want more sophisticated tools.
It’s my go-to recommendation for “serious” investors who need something beyond a simplistic mobile-only experience. IBKR also pays interest on uninvested cash, and while it may not be as high as Trade Republic’s promo rates, it’s still a nice perk.
IBKR’s longstanding reputation and strong regulatory oversight (SEC, FCA, etc.) provide peace of mind. Your assets are well-protected, and investor compensation schemes add an extra layer of security.
On the downside, IBKR has a more complex interface: the platform is powerful but can be intimidating for beginners, and opening an account might take a bit more time and effort. Furthermore, it does not have a debit card, and interest is not paid in your first 10,000$.
It targets mostly higher investment amounts and more experienced investors.
Want to learn more? Visit the Interactive Brokers website directly!
Conclusion
If you love Trade Republic’s simplicity but want slightly better conditions and a free share on signup, Trading 212 is a natural fit.
If you’re attracted to the idea of maximizing interest on your cash and maybe enjoying a nice signup bonus, Freedom24 could be your ideal match.
Finally, if you’re a more experienced investor or plan to manage significant amounts over the long haul, Interactive Brokers offers a professional-grade trading environment and a wide range of products that go far beyond what Trade Republic provides.
Each of these alternatives comes with its own set of pros and cons, so consider what matters most—be it ease of use, higher interest, bonus offers, or product variety—and pick the one that best aligns with your personal investment strategy.
Explore the websites mentioned above and decide for yourself.
Hope I helped!
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.
