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Best Online Brokers in Luxembourg in 2024 (compared)

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Fact checked by
Pedro Braz
Updated
Jun 28, 2024

Finding the best brokers in Luxembourg may seem like a daunting task, particularly if you’re just getting started (I was in your shoes some years ago!).

In this post, we will provide you with a detailed look at what we consider to be the best online brokers in Luxembourg. Whether you’re new to trading and looking for a user-friendly platform, or you’re interested in various investment alternatives (ETFs, cryptocurrencies, CFDs,…), there is a solution for you!

Best brokers in Luxembourg – Top 6 list

  1. eToro: Best broker for commission-free investing and social trading
  2. Interactive Brokers: Best broker overall
  3. XTB: Best broker for Low Forex spreads
  4. Plus500: Best broker for CFDs
  5. Saxo Markets: Best broker for professionals
  6. Trading 212: Best broker for beginners and auto-invest

Award Winner

eToro logo
#1 Best broker for commission-free investing and social trading
Min. deposit of $50
$0 for stocks and ETFs (other fees apply)
Demo account
See broker summary
Visit BrokerRead review
Broker summary
Supported countriesWorldwide (exceptions apply)
Fractional sharesYes
RegulatorsFCA, CySEC and ASIC.
Interest on uninvested cashUp to 5.3% in USD
Products and MarketsStocks, ETFs, cryptocurrencies and CFDs on stocks, ETFs, commodities, Forex, indices and cryptocurrencies.
Visit BrokerRead review

51% of retail CFD accounts lose money.

Award Winner

Interactive Brokers logo
#2 Best EU broker overall
Min. deposit of €0
Offers interest on uninvested cash balances
Excellent reputation (founded in 1978)
See broker summary
Visit BrokerRead review
Broker summary
Supported countriesWorldwide (exceptions apply)
Fractional sharesYes
RegulatorsFINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS and MNB.
Interest on uninvested cashEUR: 3.195%; USD: 4.83%; GBP: 4.707% (as of June 2024)
Products and MarketsStocks, ETFs, options, futures, Forex, commodities, bonds and funds.
Visit BrokerRead review

Award Winner

XTB logo
#3 Best for Low Forex spreads
Min. deposit of €0
€0 for stocks and ETFs
Demo account
See broker summary
Visit BrokerRead review
Broker summary
Supported countriesWorldwide (exceptions apply)
Fractional sharesYes (in some countries)
RegulatorsFCA, KNF, CySEC, DFSA and FSC
Interest on uninvested cashEUR: 4.20% first 90 days, then 2.00%; USD: Up to 5% first 90 days, then 2.50%; GBP: 5.20%
Products and MarketsStocks, ETFs, Forex and CFDs on stocks, ETFs, indices, cryptocurrencies and commodities.
Visit BrokerRead review

76-83% of retail CFD accounts lose money.

Award Winner

Best Online Brokers in Luxembourg in 2024 (compared) 1
#4 Best broker for CFDs
Min. deposit of €100
Demo Account
Accessible app
See broker summary
Visit BrokerRead review
Broker summary
Supported countriesWorldwide (exceptions apply - not available in the USA)
Fractional sharesNo
RegulatorsFCA, CySEC, FSCA, FMA and ASIC.
Interest on uninvested cash0%
Products and MarketsStocks (Plus500 Invest) and CFDs on indices, Forex, commodities, cryptocurrencies, shares, options and ETFs.
Visit BrokerRead review

80% of retail CFD accounts lose money.

Award Winner

Saxo Bank logo
#5 Best broker for professionals
Min. deposit of €0
Excelent reputation
Wide range of financial products
See broker summary
Visit BrokerRead review
Broker summary
Supported countriesWorldwide (exceptions apply - not available in the USA)
Fractional sharesNo
RegulatorsASIC, FSA, FCA, SFC, MAS, FINMA, DFSA.
Interest on uninvested cashUSD: Up to 4.08%; EUR: Up to 2.66%; GBP: Up to 3.95% (as of June 2024)
Products and MarketsStocks, ETFs, bonds, mutual funds, crypto ETPs, options, futures, Forex, Forex options, crypto FX, CFDs and commodities
Visit BrokerRead review

62% of retail CFD accounts lose money.

Award Winner

Trading 212 logo
#6 Best broker for beginners and auto invest
Free share bonus with code "IITW"
Commission-free investing
Fractional shares
See broker summary
Visit BrokerRead review
Broker summary
Supported countriesWorldwide (exceptions apply - not available in the USA, Canada, and China)
Fractional sharesYes
RegulatorsFCA, CySEC, ASIC and FSC.
Interest on uninvested cashEUR: 4.20%; USD: 5.10%; GBP: 5.20%
Products and MarketsStocks, ETFs, Forex, CFDs on stocks, crypto, indices and ETFs. Fractional shares, automatic investment system.
Visit BrokerRead review

Investing involves risk of loss.

Best brokers in Luxembourg – Comparison table

Broker
Fees on US stocks
Interest offered
Products
Min deposit
$0
Up to 5.3% in USD
Stocks, ETFs, cryptocurrencies and CFDs on stocks, ETFs, commodities, Forex, indices and cryptocurrencies.
$50It varies between countries
Tiered plan: Up to $0.0035 per shareMin. $0.35; Max. 1% of trade value.
EUR: 3.195%; USD: 4.83%; GBP: 4.707% (as of June 2024)Only applicable to accounts with a Net Asset Value (NAV) above USD 100,000 (or equivalent); Accounts with NAV of less than USD 100,000 (or equivalent) receive interest at rates proportional to the size of the account. There will be no interest paid on the first USD 10,000 of cash.
Stocks, ETFs, options, futures, Forex, commodities, bonds and funds.
€/$/£0
€0Up to €100.000 in monthly volume transactions - Only applicable in some countries.
EUR: 4.20% first 90 days, then 2.00%; USD: Up to 5% first 90 days, then 2.50%; GBP: 5.20%
Stocks, ETFs, Forex and CFDs on stocks, ETFs, indices, cryptocurrencies and commodities.
€/$/£1
$0.006 per shareOn Plus500 Invest only
0%
Stocks (Plus500 Invest) and CFDs on indices, Forex, commodities, cryptocurrencies, shares, options and ETFs.
€/$/£100
From 0.03% (min. $1)Depending on account type
USD: Up to 4.08%; EUR: Up to 2.66%; GBP: Up to 3.95% (as of June 2024)The interest rates are only paid above the first $/€/£10,000 in cash
Stocks, ETFs, bonds, mutual funds, crypto ETPs, options, futures, Forex, Forex options, crypto FX, CFDs and commodities
$0 to $10,000, depending on the country$/€2,000 for international accounts; £500 (UK)
€/£0
EUR: 4.20%; USD: 5.10%; GBP: 5.20%
Stocks, ETFs, Forex, CFDs on stocks, crypto, indices and ETFs. Fractional shares, automatic investment system.
€/£10

#1 Interactive Brokers: Best online broker in Luxembourg overall

Interactive Brokers logo
Visit brokerRead review
Products availableStocks, ETFs, Options, Futures, Forex, Commodities, Bonds and Funds
RegulatorsFINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS, MNB
Minimum deposit€0
Fees$0.0035 per US stock (min. $0.35 per order)
Demo accountAvailable
View BrokerRead review

Interactive Brokers leads the list as the best online broker in Luxembourg.

Founded in 1978, Interactive Brokers is one of the largest international brokers listed on the NASDAQ exchange (Ticker: IBKR). It is regulated by many international top-tier regulators, including the FCA, with no minimum deposit requirement.

It caters to both beginners and professional investors looking for any type of financial products (bonds, ETFs, shares, you name it!), an easy-to-use platform, advanced technical and fundamental trading tools, and a great educational component.

Interactive Brokers supports various account base currencies, including GBP, USD, EUR, and other major currencies. However, funding these accounts is limited to bank transfers. They offer one of the tightest spreads in the market, ensuring favourable trading conditions, but their commission is tier-based, meaning it varies depending on your monthly trading volume.

For investors who prefer to trade on the go, Interactive Brokers offers the IBKR Mobile app providing convenience and advanced functionality.

IBKR GlobalTrader is another mobile trading app offered by Interactive Brokers that allows traders to engage in simple and worldwide trading. The app offers the flexibility to trade in fractions and invest with as little as $1, making trading accessible to traders of all levels. You can also open a simulated trading account to practice trading before opening a live account and gain access to $10,000 in simulated cash to trade in a simulated trading environment.

On the downside, you might be overwhelmed by the number of buttons and features available on each platform, especially if you are new to investing. However, Interactive Brokers offers a lot of educational materials and video tutorials to assist you in navigating and utilizing their platforms effectively. These resources can be beneficial regardless of the specific platform you are trading or using.

Want to know more? Check out our comprehensive Interactive Brokers review and visit IBKR’s website.

Interactive Brokers Web App

Pros

  • Low commissions on US stock trading
  • No monthly inactivity fee
  • The broadest product and markets range in the brokerage industry
  • Demo account
  • Excellent reputation (founded in 1978)
  • Extensive research and Education tools
  • Has a modern mobile trading app to trade Stocks, Options and ETFs, ideal for novice investors, IBKR GlobalTrader.
  • Offers interest on uninvested cash balances

Cons

  • Complicated and lengthy account opening process (but fully online)
  • Steeper learning curve for beginners
  • Website is difficult to navigate
  • Interactive Advisors (Robo-advisor feature) is only available for US customers

#2 eToro: Best for commission-free investing and social trading

eToro logo
Visit brokerRead review
Products availableETFs, Stocks and CFDs on Commodities, Forex, and Cryptocurrencies
RegulatorsFCA, CySEC, ASIC
Minimum Deposit$50
Fees$0 for stocks and ETFs (other fees appy)
Demo AccountAvailable
Visit eToroRead review

51% of retail CFD accounts lose money.

Another exceptional trading platform in Luxembourg is eToro, an international online broker with over 30 million users who trade stocks, forex, commodities, cryptocurrencies, CFDs, and ETFs. It is known for its social trading feature where you can copy the trades of other experienced traders. There are thousands of verified traders on eToro, and you can pick the best trader based on past Return on Investment (ROI), risk profile, or other factors.

The eToro platform gives users access to over 3,000 different financial instruments, including stocks and ETFs. Additionally, users can invest in ready-made investment portfolios (Smart Portfolios), a group of several assets or traders combined together based on a theme or strategy.

Plus, eToro offers commission-free stock and ETF trading in Luxembourg.

Opening an account and depositing is easy, and you can even try it out with virtual money (a demo account). On the downside, spreads can be high for some products. The only currency accepted (base currency) is the USD, which means that you’ll be charged currency conversion fees upon deposit and withdrawal if you deposit in another currency.

If you want to learn more, check out our eToro Review.

eToro's dashboard

Pros

  • Commission-free stock and ETF trading (other fees apply)
  • Social Trading and other innovative products
  • Wide variety of financial products
  • Slick, modern, and easy for anyone to use
  • Top tier regulators

Cons

  • Limited disclosed financial information
  • Withdraw and inactivity fees
  • Spread, overnight, inactivity, and currency conversion fees higher than average
  • Only one currency account (USD) - a currency conversion fee is applied if you deposit in a different currency
  • Doesn’t offer bonds, futures, or options

#3 XTB: Best broker for Low Forex spreads

XTB logo
Visit brokerRead review
Products availableStocks, ETFs, and CFDs on Stocks, Forex, Indices, Commodities, and Cryptocurrencies
RegulatorsFCA, KNF, CySEC and FSC
Minimum Deposit€0
FeesNo commissions on CFDs (and 0% commissions on stocks/ETF)
Demo AccountAvailable
Visit XTBRead review

76-83% of retail CFD accounts lose money.

Founded in 2002, XTB is a major player in the brokerage industry with extensive worldwide experience, regulated by the Financial Conduct Authority (FCA) – plus other relevant regulatory bodies – and listed on the Warsaw Stock Exchange.

The platform offers 0% commissions on stocks. However, its software is more oriented to CFDs and forex trading with competitive costs.

XTB xStation 5 platform

Opening an account and transferring money is a quick and hassle-free process. For beginners, it presents a demo account where you can trade as if it were real money to help you feel the investment platform firsthand, and you get access to educational tools. For intermediate and advanced investors, you will find plenty of technical and fundamental tools to help you better assess your investment decisions.

XTB also offers other financial products, such as commodities and cryptocurrencies. XTB charges high commissions on CFDs of cryptocurrencies but low costs for Forex. Besides, you will face an inactivity fee of €10/month after one year of non-trading and if you have not made any deposit in the last 90 days.

Still any doubts? Go through our XTB Review!

Pros

  • Free stocks trading (only applicable to some countries)
  • Customizable trading platform (charts and workspace)
  • Low Forex Spreads
  • Demo account
  • No minimum account deposit
  • Valuable education materials
  • Top-tier Regulators

Cons

  • Complex trading platform for a beginner
  • High Stock CFD spreads
  • Limited product portfolio
  • Withdrawal fees for transfers below $100
  • Inactivity fee (€10/monthly after 1+ year with no activity plus no deposit in the last 90 days)

#4 Plus500: Best EU Broker for CFDs

Best Online Brokers in Luxembourg in 2024 (compared) 1
Visit brokerRead review
Products availableReal Shares (Plus500 Invest) and CFDs on Indices, Forex, Commodities, Cryptocurrencies, Shares, Options and ETFs.
RegulatorsFCA, CySEC, FSCA, FMA and ASIC
Minimum Deposit€100
Fees$0,006 per share (spreads on CFDs)
Demo AccountAvailable
Visit Plus500Read review

80% of retail CFD accounts lose money.

Founded in 2008, Plus500 is an online broker offering a wide range of financial products, including real shares and CFDs on forex, indices, shares, commodities, options, ETFs, and cryptocurrencies. It is available in over 50 countries and is listed on the London Stock Exchange.

There are two distinct account types:

  • Plus500 CFD: It only focuses on CFD products;
  • Plus500 Invest: Where you can trade stocks (real shares);

As a side note, Plus500 Futures, a platform only available for US users and where you can trade Futures, is also part of the Plus500 group.

The web platform you will use is the WebTrader, Plus500’s proprietary platform, offering a stable trading experience and reliable access from multiple devices, including a mobile app. All platforms are accessible and responsive, and you can start testing the features by opening a demo account.

Their customer support is helpful and readily assesses through a chat that is always shown on the trading platform. Their spreads are low, offering accounts in sixteen currencies, including USD, EUR, and GBP. Still, they charge a 0.70% currency conversion fee and a $10 monthly fee following three months with no activity. On Plus500 Invest, they only charge a small commission per trade (US market: $0.006/share).

Finally, it is regulated by financial regulators like the FCA and CySEC, meaning that Plus500 is appropriately supervised and that there is an investor protection scheme under the entity in which you open an account. For instance, when you open an account as a Danish investor through Plus500CY Ltd, you are protected up to €20,000. Additionally, Plus500 provides negative balance protection for CFD trading on a per-account basis – only to retail clients from the European Union.

Want to know more about Plus500? Check our Plus500 Review.

Plus500 demo trader

Pros

  • Acessible and responsive platform
  • Low spreads
  • No dealing commissions
  • Demo Account
  • Top-tier regulators

Cons

  • No ETF offering
  • Inactivity fee ($10 per month after no login activity in 3 months)
  • High overnight funding fees
  • Very little research and education provided

#5 Saxo: Best broker for professional traders

Saxo Bank logo
Visit brokerRead review
Products availableStocks, ETFs, Bonds, Mutual Funds, Crypto ETPs, Options, Futures, Forex, Forex Options, Crypto FX, CFDs and Commodities
RegulatorsASIC, FSA, FCA, SFC, MAS, FINMA, DFSA
Minimum Deposit€0 (depending on the country of residency)
FeesUp to 0.08% (min. $1) for US stocks
Demo AccountAvailable
Visit SaxoRead review

62% of retail CFD accounts lose money.

Launched in 1992, Saxo Bank is one of the most solid financial entities in the brokerage industry, with a proven track record of success. It lets you trade over 70,000 financial instruments through their trading platforms: SaxoTraderPRO (for PC) and SaxoTraderGO (on mobile).

The wide range of cash and margin trading products across global markets includes stocks, ETFs, bonds, mutual funds, cryptos, options, futures, CFDs, forex, and more! Saxo Bank presents its advanced research tools for “Buy and hold or trade on leverage”. 

The Saxo Bank account tiers are the following:

  • Classic: A minimum $2,000 deposit is required (depending on the country of residency), giving you access to tight spreads and customer and technical support 24/5.
  • Platinum: A minimum $200,000 deposit is required. In addition to Classic features, it also lowers trading prices by up to 30% and prioritizes local-language customer support.

VIP: A minimum $1,000,000 deposit is required. Here, you will find the best prices, access to trading experts, and exclusive event invitations.

SaxoTraderGo dashboard

The pricing structure will vary according to your account tier. For instance, a US stock order will be 0.08% of the trade value, with a minimum of $1 in Classic. However, within the VIP tier, the same trade would be 0.03% of the trade value with the same minimum of $1. Plus, for accounts with stocks, ETFs/ETCs, or bond positions, a custody fee of up to 0.15% p.a. will apply.

Saxo Bank A/S is a fully licensed European bank under the supervision of the Danish Financial Supervisory Authority (FSA). Saxo Bank is a member of the Danish Guarantee Fund, which protects client cash deposits up to €100,000 and financial securities (stocks, ETFs,…) up to €20,000 per client.

Pros

  • Excellent research materials
  • Outstanding trading platforms (SaxoTraderPRO and SaxoTraderGO)
  • Extensive range of investment products
  • Long track record
  • Supervised by worldwide top-tier regulators

Cons

  • High minimum deposit (varies between countries)
  • Fees higher than average
  • Fee structure is complex
  • Does not accept US residents

#6 Trading 212: Best broker for beginners and auto invest

Trading 212 logo
Visit brokerRead review
Products availableReal Stocks, ETFs, Forex, CFDs on stocks, crypto, indices and ETFs. Fractional shares, automatic investment system
RegulatorsFCA, CySEC and FSC
Minimum Deposit€10
Fees€0
Demo AccountAvailable
Visit Trading 212Read review

Investing involves risk of loss.

Founded in 2006, Trading 212 is a fintech based in London that aims to democratize the entire investment process through a simple mobile application. The company aims to do this by allowing anyone to invest in over 10,000 stocks and ETFs, Forex, commodities, CFDs, and cryptocurrencies. Over 15 million people have already downloaded the app.

In Trading 212, you will find commission-free stocks and ETFs trading, fractional shares, and even an automatic investment system (Robo-advisor). Opening an account is extremely quick and easy. On the downside, it shows limitations regarding available products, such as the lack of bonds and options. It charges a 0.15% currency conversion fee when buying assets in a currency different from your base account.

Portfolio tab

Within the app, you will notice two distinct sub-platforms: Trading 212 Invest, where you can trade a range of assets free of charge, and Trading 212 CFD, where you may trade leveraged financial products (CFDs).

If you want to learn more, check our Trading 212 Review.

Pros

  • Commission-free Real Stocks and ETFs trading (other fees may apply. See terms and fees)
  • AutoInvest & Pies feature
  • Fast and easy account opening process
  • Demo account
  • Top Tier Regulators
  • One free share worth up to €100 using the promo code "IITW"
  • High interest on uninvested cash

Cons

  • Limited product portfolio (no Options, Bonds, Mutual Funds or Futures)
  • No relevant Fundamental tools
  • Spreads on Forex CFDs may be high in certain trading hours
  • Foreign exchange fees (0.15% and 0.50% in “Invest” and “CFDs” accounts, respectively)

How to choose the best broker in Luxembourg?

Choosing the best broker in Luxembourg is important for a good trading experience. Here are simple steps to help you make the right choice:

  • Check Regulation: Look for brokers regulated by trusted authorities like FCA or CySEC to ensure they follow rules and protect your money.
  • Fees and Commissions: Compare fees and commissions. Lower costs mean more money stays in your pocket.
  • Trading Platforms: Check if the broker offers user-friendly platforms that suit your needs. A good platform is crucial for smooth trading.
  • Financial Instruments: Make sure the broker provides a variety of financial instruments, so you can trade what you’re interested in.
  • Customer Support: Test customer support. A responsive and helpful team is important if you have questions or issues.
  • Reputation: Research reviews and ratings from other users to get an idea of the broker’s reputation. A good reputation indicates trustworthiness.

By considering these factors, you can pick the best broker in Luxembourg for your trading goals.

Bottom line

In conclusion, choosing the best online broker in Luxembourg depends on individual preferences and trading goals. Our top picks include:

  1. Interactive Brokers
    Known for low commission and a wide range of financial products.
  2. eToro
    Renowned for commission-free investing and social trading.
  3. XTB
    Ideal for commission-free ETF trading, and low forex spreads.
  4. Plus500
    Best for CFDs, offering accessibility and low spreads.
  5. Saxo
    Suited for professional traders, offering an extensive range of investment products.
  6. Trading 212
    Known for auto-investing and Pies feature.

Consider factors like regulation, fees, trading platforms, available financial instruments, and customer support when making your choice. Always conduct thorough research based on your risk tolerance and investment strategy.

FAQs

Is Charles Schwab available in Luxembourg?

No, Charles Schwab is unavailable in Luxembourg. It is primarily a US broker. However, it accepts new accounts from a handful of other countries.

How to invest in stocks from Luxembourg?

You can use one of the online brokers shown above: Interactive brokers, eToro, XTB, DEGIRO, Plus500, Saxo, and Trading 212.

What is a brokerage company?

It is an entity designed to be the middleman between you and the people you are trying to buy or sell a stock, ETF, crypto,… you name it!

Which broker is best in Luxembourg?

There is no single answer. It depends on what you value most: fees, security, investment platform or any relevant feature.

What are the types of investments you can make with a brokerage account?

You can trade stocks, ETFs, Forex, Bonds, Futures and CFDs on stocks, ETFs, indices, cryptocurrencies, commodities.

Can I invest in US stocks from Luxembourg?

Yes, you can invest in US stocks from Luxembourg. To do so, you’ll need to open an international brokerage account that allows trading on US stock exchanges.

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About the author
Author Avatar
Franklin Silva
Co-Founder & Fintech Analyst

Franklin has three years of experience in Wealth Management as a Fund Research Analyst, has passed the CFA level II, and is the host of the "Edge Over Hedge" YouTube channel.

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