Best online broker in Europe: 6 picks for EU residents

So which is the best online broker Europe offers for a monthly ETF plan? The short answer: the one that is licensed in the EU, open to residents of your country and cheap for the amount you actually invest. For €100–500 a month, Trade Republic is our first pick for most European investors, and Interactive Brokers is the one to choose if you want more markets or live where Trade Republic isn’t offered.

We checked every fee on this page on the brokers’ own price lists and websites on 23 October 2026. Investing involves risks: ETF prices go down as well as up, and you can get back less than you put in. We compare costs and rules; we don’t provide investment advice for your situation, so seek qualified advice if you’re unsure.

How we ranked the best brokers in Europe

We ranked each broker for one goal: putting €100–500 a month into ETFs as a resident of an EU country. A broker open in only a handful of countries can’t rank high, however low its fees.

We checked, in this order: availability in the Netherlands, Germany, Belgium, Ireland and the rest of the EU; the licence and investor compensation scheme; the cost of a €100 and €500 monthly buy, including non trading fees; tax reporting in your country; and deposits, app and support. We don’t rate how user friendly a platform feels, because we haven’t tested the apps hands-on; we stick to what each broker publishes. Our methodology explains how we score every platform.

How to choose an online broker in Europe

Choose an online broker in Europe by checking five things in order: licence, investor compensation, costs for your amount, tax handling in your country, and deposits. For European investors, fees get the headlines, but a missing licence or a tax mess costs you more in the long run.

Licence: who supervises the broker

Every broker on this page is licensed in the EU and serves other EU countries through a passport:

• Trade Republic and Scalable Capital are German banks supervised by BaFin and the European Central Bank.
• DEGIRO is the Dutch branch of flatexDEGIRO Bank SE, a German bank supervised by BaFin; DNB and AFM supervise the branch in the Netherlands.
• Interactive Brokers serves EU clients through Interactive Brokers Ireland Limited, authorised by the Central Bank of Ireland.
• Saxo is Saxo Bank A/S, a Danish bank supervised by the Danish FSA, with branches in the Netherlands and Belgium.
• eToro serves EU clients through eToro (Europe) Ltd, licensed by CySEC in Cyprus.

Client assets and investor compensation: €20,000 is the EU minimum

Your shares and ETFs are client assets: the broker holds them for you, separately from its own money. If a broker fails and those client assets can’t be returned, EU law sets a minimum investor compensation of €20,000 per investor, and some countries offer more.

Broker	Investor compensation scheme	Securities	Cash
Trade Republic	German EdB	90% of the claim, up to €20,000	Up to €100,000 per partner bank
Scalable Capital	German EdB	90% of the claim, up to €20,000	Up to €100,000 per bank
DEGIRO	German scheme	90% of the claim, up to €20,000	Up to €100,000 at flatexDEGIRO Bank
Interactive Brokers	Irish ICS (ICCL)	90% of the loss, up to €20,000	Segregated; same €20,000 scheme
Saxo	Danish Garantiformuen	Up to €20,000	Up to €100,000
eToro	Cyprus ICF	Up to €20,000	Segregated; ICF up to €20,000

These schemes only pay out if a firm fails and your assets are missing, and for larger portfolios the cap covers only part of your money. They never cover investment losses when markets fall. How each broker keeps client assets apart:

• DEGIRO: says client securities sit in a separate special purpose vehicle, outside the reach of its creditors.
• Trade Republic: securities are client property held at domestic and international depositories.
• Scalable Capital: German securities are held at Clearstream with you as co-owner; foreign ones in trust.
• Interactive Brokers: client money sits in segregated accounts, reconciled daily.
• Saxo (NL): Euronext securities under the Dutch Wge regime, others via Bewaarbedrijf BinckBank.
• eToro: says client funds sit in segregated accounts at partner banks.

The €100,000 deposit guarantee for cash applies per person per bank, so money you hold at other banks has its own limit. Uninvested cash also deserves a look: at Trade Republic (in Germany and Belgium) and Scalable Capital (without PRIME+), part of it can sit in money market funds, which have no deposit guarantee.

Costs: work them out for your amount

The cheapest broker for a €100 monthly buy is not always the cheapest for a €5,000 order: a €3 minimum on a €100 buy is 3%. Look at all of these:

• Order or savings plan fee: €0 on most savings plans, €1 an order at Trade Republic and in DEGIRO’s core selection, and a percentage of trade value with €2–€3 minimums at Saxo and Interactive Brokers. Saxo’s rate falls in its higher tiers: 0.05% (Silver, from €200,000) and 0.03% (Gold, from €1 million).
• Spread: the gap between buy and sell price. Trade Republic’s Best Price and eToro’s market spreads are not published.
• Currency conversion costs when you buy in dollars, for example US stocks: 0.25% at DEGIRO (AutoFX) and Saxo, 0.75% at eToro, a 0.03% mark-up on automatic conversion at Interactive Brokers. Trade Republic and Scalable Capital publish no percentage.
• Non trading fees: €2.50 per exchange per year at DEGIRO outside its free list (buying on your home market of Euronext Amsterdam or Brussels avoids it), a 0.01% monthly service fee at Saxo, and 0.99% on the first €5,000 of an Instant deposit on Scalable Capital’s FREE plan. None of the six charges inactivity fees (at Interactive Brokers, for most account types).
• Withdrawal fees: two free a month at Interactive Brokers, then €1 per SEPA transfer; $5 from eToro’s USD account.
• The ETF’s own yearly cost, which you pay at every broker.

Tax handling in your country

A broker that handles tax for you saves time every spring. What each one does:

• Germany: Trade Republic and Scalable Capital withhold German tax automatically (26.375% including solidarity surcharge, plus church tax where it applies), and you can use your €1,000 allowance with a Freistellungsauftrag. DEGIRO, Interactive Brokers and eToro don’t withhold, so you declare gains yourself in Anlage KAP.
• Netherlands: none of the six withholds Dutch tax; box 3 is based on what you own on 1 January and you declare it yourself. Trade Republic’s Dutch branch gives you pre-filled tax data, DEGIRO sends a jaaropgave with start and end values, Scalable Capital provides a free tax report prepared by KPMG, Saxo sends a fiscaal jaaroverzicht and eToro offers a tax report for Club members. Interactive Brokers gives you statements only.
• Belgium: Trade Republic withholds TOB, roerende voorheffing and the Reynders tax since 15 September 2026, and DEGIRO withholds TOB. Interactive Brokers doesn’t, so you declare and pay TOB yourself and report the Irish account to the National Bank of Belgium.
• Ireland: we haven’t covered Irish tax rules for these brokers yet. Check Revenue’s guidance or a tax adviser before you start.

Deposits: SEPA, iDEAL and your own IBAN

All six accept euro bank transfers. Trade Republic gives you your own IBAN (Dutch or Belgian through its local branches, German elsewhere). DEGIRO and Saxo add iDEAL in the Netherlands. Scalable Capital charges for Instant deposits but not for SEPA or direct debit. eToro also takes cards and PayPal, but a euro deposit into its USD account costs 150 pips.

What €100 a month into one ETF costs for a year

At €100 a month into one euro-listed ETF, Trade Republic, Scalable Capital, Interactive Brokers (selected ETFs) and eToro charge €0 in order fees for the year; DEGIRO costs €12. The table uses only fees published by the brokers, assumes prices stay flat, and leaves out the ETF’s own yearly cost.

Broker and method	Cost per buy	€100 a month, 1 year	€500 a month, 1 year	Not included
Trade Republic, savings plan	€0	€0	€0	Spread: not published
Scalable Capital FREE, savings plan	€0	€0	€0	Spread: not published
Interactive Brokers, recurring plan in selected UCITS ETFs	€0	€0	€0	Exchange spread
Interactive Brokers, other ETFs	€3 minimum	€36	€36	Exchange spread
eToro, recurring investment	€0 commission	€0	€0	Market spread: not published
Saxo (NL), AutoInvest	€0 plus 0.01% a month service fee	€0.78	€3.90	Exchange spread
DEGIRO, manual order in core selection	€1 handling fee	€12	€12	Exchange spread
DEGIRO, manual order on another exchange	€2 + €1	€36 plus €2.50 connectivity	€36 plus €2.50 connectivity	Exchange spread

How the sums work:

• €0 rows: 12 buys × €0 = €0. At Trade Republic and eToro a spread still applies, and neither publishes it.
• Interactive Brokers outside the plan list: 0.05% of €100 is €0.05, below the €3 minimum, so 12 × €3 = €36.
• Saxo: 0.01% a month on a balance growing from €100 to €1,200 adds up to €0.78 (€3.90 at €500). It comes back as trading credit, which only helps if you place paid trades.
• DEGIRO: 12 × €1 = €12. Elsewhere, 12 × €3 = €36, plus €2.50 connectivity outside Euronext Amsterdam and Brussels.

At €100–500 a month, the savings plan price matters more than the headline commission. The ETF’s own yearly cost (TER) comes on top at every broker, so compare it on the fund’s factsheet.

Neobroker vs traditional broker

A neobroker is an app-first broker with flat, low fees and savings plans from €1; a traditional online broker offers more exchanges and products, usually with percentage fees and a more complex platform. For passive investors with a simple monthly ETF plan, a neobroker is usually enough.

	Neobroker: Trade Republic, Scalable Capital	Traditional: Interactive Brokers, Saxo, DEGIRO
ETF savings plans	From €1, €0 per execution	Interactive Brokers from €10 in selected UCITS ETFs; Saxo AutoInvest; none found at DEGIRO
Order fee	€1 Best Price (Trade Republic), €0.99 on EIX (Scalable Capital)	0.05%, min €3 (Interactive Brokers); 0.08%, min €2 (Saxo); €2 + €1 (DEGIRO)
Market access	Trade Republic: 30 exchanges with Direct Price; Scalable Capital: German venues only	Around 50 exchanges at DEGIRO; many exchanges at Interactive Brokers and Saxo
Products	Stocks, ETFs, bonds and crypto (Scalable Capital: crypto ETPs only); no options or futures	Adds options and futures; Interactive Brokers and Saxo also offer CFDs
Interest on uninvested cash	2.50% (Trade Republic NL, the ECB rate) or 2.60% (Scalable Capital), variable	0% on the first €10,000 (Interactive Brokers); 0% below €100,000 (Saxo); none listed (DEGIRO)

The line is blurring: both neobrokers are now licensed German banks. Pick a neobroker if you mainly buy and hold ETFs. Pick a traditional brokerage if you want more asset classes, such as options and bonds on many markets, active stock trading in US stocks, or a published currency conversion fee.

CFDs are not investing

A CFD (contract for difference) is a leveraged contract on a price move: you never own the share or ETF, and most retail traders lose money with them. European investors building a long-term ETF plan don’t need CFD trading or other complex investment products at all.

The brokers publish their own loss figures:

• Saxo: 73% of retail investors lose money trading CFDs (Dutch tariff sheet of 13 July 2026, for rolling FX spot and some FX options); 46% lose money on turbos.
• Interactive Brokers: 58.9% of retail investor accounts lose money trading CFDs (Irish website).
• eToro: 55% of retail investor accounts lose money trading CFDs (website disclaimer).

DEGIRO, Trade Republic and Scalable Capital don’t offer CFDs. At eToro, some ordinary buy orders in stocks, ETFs or crypto can be executed as CFDs because of product restrictions; they are marked CFD on the order screen, so check before you confirm.

The best brokers in Europe in detail

1. Trade Republic: best overall for monthly ETF plans

Trade Republic is the best online broker for most European investors with a monthly plan: stock savings plans and ETF plans cost €0 per execution from €1, in 18 European countries, at a German bank supervised by BaFin. The catch: €1 Best Price orders run against Trade Republic itself, and its spreads and FX fee aren’t published. Read our Trade Republic review.

2. Interactive Brokers: best for every EU country and more markets

Interactive Brokers gives you one account in any EU country with wide market access, and no commission on selected UCITS ETFs in a recurring plan. The catch: a complex platform, no interest on the first €10,000 of euro cash, and a US entity that paid $38 million in 2020 over anti-money-laundering failures. Read our Interactive Brokers review.

3. DEGIRO: best for cheap manual ETF buys

DEGIRO is a low cost broker for investors happy to place each buy themselves: more than 1,000 ETFs, ETCs and ETNs on Tradegate for the €1 handling fee, and around 50 exchanges. The catch: no automatic savings plan that we could find, no German tax withholding, and a €1.05 million BaFin fine in 2023 over internal control and anti-money-laundering shortcomings. Read our DEGIRO review or see DEGIRO vs Trade Republic.

4. Scalable Capital: turn here if you live in one of its six countries

Scalable Capital is a strong fit for ETF investing in Germany, Austria, the Netherlands, France, Italy or Spain, with €0 savings plans from €1 and a FREE plan. The catch: no accounts for Belgian or Irish residents, German venues only, and an FX surcharge that isn’t quantified. Read our Scalable Capital review.

5. Saxo: turn here in the Netherlands and Belgium

Saxo Bank suits Dutch and Belgian investors who want a broad multi-asset platform, with AutoInvest buying selected ETFs and funds for €0 a month. The catch: no local site for Germany or Ireland, 0.08% with a €2 minimum on normal Euronext orders, and 0% interest below €100,000. Read our Saxo review.

6. eToro: turn here if you want stocks and crypto in one app

eToro is a multi asset investment platform with stocks, ETFs, crypto, social trading and copy trading through CopyTrader, and no commission on recurring ETF investments. The catch: balances sit mostly in USD (0.75% on other conversions), and stock trades cost $1 per opening and closing trade in the Netherlands, Germany and Belgium ($0 in Ireland). Read our eToro review.

Brokers we haven’t ranked

You’ll see Trading 212, XTB, Lightyear and Revolut in other rankings of brokers in Europe. We haven’t checked their licences and fees yet, so they aren’t in our main ranking. Bitpanda added real stocks and ETFs on 29 January 2026, but we couldn’t confirm in which countries they are open.

Compare the best brokers by country and goal

• Best ETF brokers if you only care about ETF investing and index funds.
• Best brokers in the Netherlands for box 3, iDEAL and Dutch branches.
• Best brokers in Germany for automatic tax withholding and the Freistellungsauftrag.

The bottom line

For most EU residents with a €100–500 monthly ETF plan, start with Trade Republic. Choose Interactive Brokers if you live outside its 18 countries or want more markets, and DEGIRO if you prefer to buy yourself at €1 an order. Check the licence and your country’s tax rules first, and remember that past performance says nothing about future results. This page is general information, not investment advice: the right investment decision depends on your goals and risk tolerance.

Questions people ask

Which is the best online broker in Europe for beginners?

For a first monthly ETF plan, Trade Republic is the simplest of our picks: savings plans cost €0 per execution from €1 and it serves 18 European countries. If it isn't offered where you live, Interactive Brokers covers the whole EEA, but its platform takes longer to learn.

Which is the cheapest broker for ETF investing in Europe?

On order fees, Trade Republic, Scalable Capital (FREE plan) and Interactive Brokers (selected UCITS ETFs) all charge €0 for a monthly ETF plan. The ETF's own yearly cost and the spread still apply, and Scalable Capital is only open in six countries.

Is my money protected if my broker goes bust?

Your shares and ETFs are held for you, apart from the broker's own assets. If they can't be returned, investor compensation steps in: EU rules set the cover at a minimum of €20,000 per investor, and in Germany and Ireland it pays 90% of the claim up to €20,000. It never covers market losses.

Which brokers can I use if I live in Ireland?

Trade Republic, DEGIRO, Interactive Brokers and eToro are all available to Irish residents; Scalable Capital is not, and Saxo has no Irish site. We haven't checked how these brokers handle Irish tax, so check Revenue's guidance before you start.

Are CFDs a good way to invest?

No. A CFD is a leveraged bet on a price move, and most retail accounts lose money: 55% at eToro, 58.9% at Interactive Brokers and 73% at Saxo in the Netherlands, according to their own disclosures.

Can I move my portfolio to another broker?

Usually yes, by transferring the securities instead of selling them. Costs differ: Scalable Capital charges €0 plus third-party costs and Saxo charges €25 per line in the Netherlands and €75 in Belgium, so check your broker's price list first.