One of the most common broker choices for European investors looking for commission-free stock and ETF investing has been none other than DEGIRO. Since its inception in 2008, the Dutch broker has become one of the leading brokers in Europe, with over 2.5 million users.
Many of those users were drawn to DEGIRO by its flagship feature: commission-free stock and ETF trading. The platform is also well-renowned and reputable because it is:
- Regulated by AFN and DNB;
- One of the largest publicly traded companies on the German stock exchange;
- In possession of a banking license.
However, the platform is not without its flaws. Other than the limited availability of the platform (only 15 European countries), some of the other cons include:
- A limited offer of leveraged products;
- Not having the option of a demo account;
- Mixed reviews and customer service satisfaction by some users;
- Imposing additional fees for seemingly commission-free products.
Additionally, on April 13th, 2023, DEGIRO announced a set of new commissions, namely:
- €1 commission per trade for local stocks (from your country), US and Canada Stocks (plus the current €1 handling fee);
- €2 commission per trade for Global ETFs, except the ones inside the ETF Core Selection (plus the current €1 handling fee);
- €1 handling fee for its ETF Core selection list of commission-free ETFs. The handling fee also applies to all other DEGIRO products except for Stocks on the Tradegate exchange, Options, and Futures (excl. OMX Nordics).
These changes are expected to take place from May 15th, 2023.
These recent changes have made DEGIRO’s fee structure more complex and its services more expensive for the end user. You could also be charged other fees, such as a currency exchange fee (0.25%), a real-time price feed fee (for some exchanges), and the exchange connection fee (€2.50 per exchange per year).
If you are looking for alternatives to DEGIRO, we got you covered. These are our top picks for DEGIRO alternatives, the choice of which depends on your investing needs:
Best DEGIRO Alternatives in 2023
Interactive Brokers | Best global broker overall
Founded in 1978, Interactive Brokers is one of the world’s most trustworthy investing platforms. It offers a wide selection of financial products (stocks, bonds, ETFs, mutual funds, currencies, options, and futures) from more than 150 global markets at reasonable commissions and low currency exchange fees.
Trading 212 | Best for commission-free stocks and ETFs
A simple and intuitive platform, commission-free stocks & ETFs trading, and fractional shares make Trading 212 ideal for beginner investors.
eToro | Best for commission-free stock trading and social investing
Since being founded in 2007, eToro has amassed over 30 million users by offering commission-free stock trading and innovative features such as social investing (copying and following other investors’ trades and portfolios). It also offers other financial products such as ETFs, cryptocurrencies, and CFDs.
Plus500 | Best for CFD trading
Plus500 is a broker that is primarily specialized in CFD investing. They offer zero commissions when trading CFDs in indices, forex, commodities, cryptocurrencies, stocks, options, and ETFs. There is also an account type for those who want to invest in physical shares (Plus500 Invest).
Disclaimer: 86% of retail CFD accounts lose money.
Saxo Bank | Best for experienced traders
This Danish broker offers experienced traders access to over 120 market exchanges worldwide. It also has a wide financial product selection, including options, forex options, commodities, futures, and more. It is most suitable for advanced investors because of its relatively high fees.
Freedom24 | Best for new stocks at the IPO price
Founded in 2008, this European broker is perhaps best known for its access to stock IPOs for individual investors (previously only accessible to institutional investors). Other financial products available through the platform include stocks, ETFs, bonds, futures, and options. It is also the only European broker listed on the NASDAQ exchange.
|Broker||Minimum deposit||Supported Products||Currency conversion fee||Available in||Trading fees (US stocks)|
|Interactive Brokers||$/€/£0||Stocks, bonds, ETFs, mutual funds, currencies, options, and futures||0.08-0.20 basis points x Trade Value per order ($1-$2)minimum per order)||Internationally (exceptions apply)||From $0.0005 (Tiered) to $0.005 (Fixed); Free to US investors|
|Trading 212||€/£1 (€/£10 for bank transfers)||Stocks, ETFs (Trading 212 Invest), CFDs (Trading 212 CFD)||0.15% (Invest account), 0.50% (CFD account)||Internationally (not available in the US, Canada, and some other countries)||Commission-free (other fees may apply)|
|eToro||$50 (varies across countries)||ETFs, stocks, cryptocurrencies, CFDs||Between 50 and 150 PIPs||Internationally (exceptions apply)||Commission-free (other fees may apply)|
|Plus500||$100 ($500 for bank transfers)||Stocks (Plus500 Invest), CFDs (Plus500 CFD)||Spot rate ± 0.7%||Internationally (not available in the US and some other countries)||0.006$ per share (higher on other exchanges)|
|Saxo Bank||$/€2,000 (depending on your residency)||Stocks, ETFs, bonds, currencies, futures, options, mutual funds, CFDs||0.45% to 0.75%||Internationally (exceptions apply)||$5 minimum (Classic account)|
|Freedom24||$/€0 ($2,000 for IPOs)||Stocks (including IPOs), ETFs, bonds, options||Included in the spread (~2%)||40+ countries (mostly European)||From €0.008 to €0.02 per share + 1.2€ to 2€ minimum per order|
#1 Interactive Brokers
Interactive Brokers at a glance
Having been around since 1978 and surviving multiple financial crises, the Interactive Brokers’ major advantage is its reputation. It is also publicly listed on the NASDAQ exchange (ticker: IBKR), making it a bit more regulated than other platforms.
Other significant advantages of using Interactive Brokers are its wide selection of financial products from over 150 markets, solid trade execution (IB SmartRouting), and supporting 24 currencies in its account. There are also 100+ currency pairs available for exchange.
Some downsides of using Interactive Brokers are:
- The complex fee structure;
- Lengthier than average registration and fund deposit processes;
- Limited commission-free trading (only available for US investors).
However, the last point is largely mitigated by using narrower spreads and lower FX fees than most of its competitors.
Speaking of the fee structure, there are two distinct plans to choose from – Tiered and Fixed, with the former fees depending on the trade volume. The fees also vary across different markets. You can see the full fee structure here.
There are 3 apps to choose from when accessing your account: Interactive Brokers Trader Workstation (TWS) desktop app, IBKR GlobalTrader mobile app, and Client Portal web-based app.
The Interactive Brokers Trader Workstation (TWS) app offers many basic and advanced features, such as a demo account, watch lists, alerts and monitoring in real-time, advanced technical analysis tools, and more. One of the downsides of the platform is that the learning curve can be steep for beginners, even with the provided educational materials.
The IBKR GlobalTrader mobile app is a much more intuitive choice for beginner investors, offering stocks, ETFs, and options trading in a more user-friendly format. Other app features include automatic currency conversions and fractional shares (only for certain US stocks).
Overall, Interactive Brokers is a good choice for beginners and advanced investors looking for a secure broker and access to a wide choice of financial products. If you need more info about it, feel free to check out our more detailed review of Interactive Brokers.
- Reputable, publicly listed, and well-regulated broker
- Wide choice of financial products and global markets
- Low commissions, currency exchange fees, and trading spreads
- Higher learning curve than some other platforms (partially fixed with IBKR GlobalTrader)
- More complicated account opening and fund depositing process than average
- Complicated fee structure
#2 Trading 212
Investing involves risk of loss.
Trading 212 at a glance
Founded in 2004, Trading 212 claims the title of the first-ever commission-free broker in both the U.K. and Europe. As of 2023, it has over 2 million users with over €3.5 billion in assets under management (AUM).
It offers two distinct account types: Trading 212 Invest, which offers commission-free stocks and ETFs trading, and Trading 212 CFD, which offers CFD trading only.
The Trading212 Invest account has been rapidly gaining popularity with beginner investors especially, and with good reasons:
- The minimum deposit is just €/£1 (€/£10 for bank transfers);
- Commission-free stocks and ETFs trading is available (along with fractional shares);
- The platform is very simple to use (for both account opening and trading).
Trading212 is available in 100+ countries, but that list does not include the U.S. or Canada, among some other countries. The account opening and fund depositing process is one of the simplest ones on the market. Trading is also easy and intuitive when using the platform, both on mobile and web-based apps. There are almost zero fees for the end user when depositing funds by bank transfer and trading stocks or ETFs.
It is important to note that Trading 212 can offer commission-free trading primarily due to its share lending program, which is mandatory for Trading 212 users. You can read more about it here, but in a nutshell:
- Trading 212 holds the right to lend your shares to a third party (borrower);
- This doesn’t affect your ability to trade the shares, receive dividends, etc.
- Trading 212 has to always hold collateral in the form of US Treasury Bonds that is equal to or more than 102% of the value of the shares lent.
However, that doesn’t mean there are no fees on Trading 212. Some of the fees that Trading 212 charges are;
- 0.7% for deposits by cards, Google Pay, Apple Pay & other (it’s free up to the first €2,000);
- 0.15% (Trading 212 Invest) or 0.50% (Trading 212 CFD) currency exchange fees;
- Overnight fees on CFDs.
There may be some additional smaller fees applied by different exchanges or countries. You can see the fee structure in more detail here for Trading 212 Invest and here for Trading 212 CFD. Other cons of the platform include a limited offer of financial products, supporting only 3 currencies (USD, EUR, and GBP), and high spreads on Forex CFDs.
For those of you who are thinking about joining Trading 212, you can even claim a free share when you sign up by following this link. After you verify your identity and fund the account, be sure to include promo code “IITW” to claim free shares worth up to €100.
To sum it all up, Trading 212 is a good choice for beginner investors who want a simple, effective, and cheap way to buy stocks and ETFs.
If you need more info, feel free to check out our more detailed review of Trading 212.
- Commission-free stocks and ETFs trading
- Intuitive and simple platform
- Free stock upon signup
- Limited offer of financial products
- Share lending
- Credit/debit card fee (after the first deposited €2,000)
77% of retail CFD accounts lose money.
eToro at a glance
Being founded in 2007, regulated by top-tier financial institutions, and having over 30 million global users, eToro is a well-renowned broker. The platform is most known for its social trading feature, which you can use to follow and copy other investors’ trades and portfolios. There is also a wide selection of markets and financial products when investing by yourself, including stocks, ETFs, cryptocurrencies, and CFDs (on stocks, ETFs, commodities, currencies, indices, and cryptocurrencies).
The platform is intuitive and well-suited even for beginners and also offers trading with virtual funds through its demo account. Account opening and depositing funds are both easy and fast. Zero commission trading is available, and the minimum deposit is set at $50 (varies across countries).
The feature that eToro is best known for is probably its social trading feature named Copy Trader. It allows users to copy the trading behavior of other investors in real-time at no extra charge to the user.
Another unique feature of eToro is an automated investing tool named Smart Portfolios. Most Smart Portfolios are created and managed by the eToro Investment Team. Still, Partner Portfolios are created and managed by eToro’s partners, which include asset managers, data research companies, and more.
Low and transparent fees are one of the main pros of using eToro. There are no fees for account management or when trading stocks. The most common fees are:
- Currency exchange fees when depositing in currencies other than the USD;
- A fixed withdrawal fee of $5 (minimum withdrawal amount is $30);
- $10 inactivity fee after 1 year;
- Market (bid/ask) spreads.
The most important cons when using eToro other than the mentioned fees are supporting only one currency for trading (USD) and having high spreads on certain products. Other cons include the lack of more advanced tools for experienced traders and the platform having custody over your crypto assets.
Overall, eToro is a good choice for most beginner investors looking for a simple and low-cost way to start investing through a reputable broker who offers access to a wide selection of financial products. Its innovative social and automated investing features could also be a way for many beginners to start their investing journey.
If you need more info, feel free to check out our more detailed review of eToro.
- Intuitive, easy-to-use, and beginner-friendly platform
- Low fees, including commission-free stock trading
- Innovative features such as social trading (CopyTrader), Smart Portfolios, etc.
- Only one currency is accepted for trading (USD)
- Withdrawal fee ($5)
- High spreads on certain products
86% of retail CFD accounts lose money.
Plus500 at a glance
Founded in 2008, Plus500 is a trading platform best known for its wide choice of CFD products and low fees in its Plus500 CFD account. However, it also offers stocks (physical shares) in the Plus500 Invest account.
The company is also listed on the London Stock Exchange and is available in over 50 countries. There are 16 different base currencies to choose from (including USD, EUR, and GBP, to name a few).
The web platform (WebTrader) offers an intuitive interface with access from multiple devices, including a mobile app. There is also a demo account option to test the features and trade with virtual funds.
Plus500 CFD fees come mainly from the buy/sell (Bid/Ask) spreads, which vary widely across different financial products. When using Plus500 Invest, each trade has a fee, depending on the exchange you’re using. It could be as low as 0.006$ per share for US stocks but can be significantly higher for EU stocks (the minimum is between €2 and €6 per trade).
Keep in mind that there is also a currency conversion fee (up to 0.7% of the trade’s realized net profit and loss) and a $10 monthly inactivity fee (following three months of not logging in to the platform).
Find more detail about Plus500 CFD fees here and Plus500 Invest fees here. If you need more info about Plus500 in general, you can check out our detailed Plus500 review.
- Low fees and wide choice for CFD trading
- Available in 50+ countries and supports 16 different currencies
- Intuitive interface with a demo account option
- Primarily a CFD broker
- The inactivity fee
- Relatively high fees for non-US stocks and conversion fees
#5 Saxo Bank
Saxo Bank at a glance
Founded in 1992, Saxo Bank is one of the longest existing global brokers. It is known for its wide variety of financial products (over 60,000), access to a large number of market exchanges (over 120), and a large number of base currencies (18).
Saxo Bank has, more than anything, been trying to appeal to professional investors. It has done so by offering advanced tools, such as its integration with the Trading View charting platform. The apps SaxoTraderGO and SaxoTraderPRO have also been tailored to the professional user, both by the number of their features and their relative complexity.
Those are probably some reasons why Saxo Bank has one of the highest initial deposit requirements in the industry. These can vary depending on your residency, starting from £500 for UK investors and €2,000 for most European countries. It is important to note that Saxo Bank is unavailable in some big global markets outside Europe, such as the US.
Three distinct account levels are available: Classic, Platinum ($200,000 minimum), and VIP ($1,000,000 minimum), each with its fee structure.
Speaking of fees, they are one of the biggest cons of using Saxo Bank. Fees for trading US stocks and ETFs start at just $1, but only for VIP accounts. These fees will be much higher for Platinum and Classic accounts, starting at $4 and $5, respectively.
The fee structure is fairly complex, and there are also some additional fees to be aware of. Just to name a few most common ones:
- Minimum monthly custody fee: €5;
- Inactivity fee (after not logging in for 6 months): €100;
- Currency conversion fees: between 0.45% and 0.75%.
It is probably best to select the desired financial product from their website to see its full fee structure.
In a nutshell, Saxo Bank is tailored to professional investors because of its advanced tools, higher-than-average fees, and complex interface. Those are also reasons why it may not be suitable for beginner or even intermediate investors.
- Very wide selection of financial products
- Extensive trading data and tools
- Reputable broker with a long track record
- Higher than average fees
- High minimum initial deposit
- Not available in most big markets outside Europe
Investing involves risk of loss.
Freedom24 at a glance
Freedom24 was founded in 2015 and has since offered its retail clients stocks of hundreds of companies making an IPO (Initial Public Offering) at the starting price, previously only available to institutional investors. They also offer stocks, stock options, bonds, and ETFs on major exchanges in Europe, Asia, and the US.
The company is based in the EU (Cyprus) and is also the only European broker listed on the NASDAQ exchange. They currently accept users from 40+ countries (most of them being European).
The platform is available through web and mobile apps, both intuitive and simple enough for beginners. There are also some additional features, such as “InvestIdeas” and a high-yield “Savings D-account” (currently yielding 3% yearly for USD). Still, the platform lacks more advanced options commonly found with other brokers.
The ability to purchase new stocks at IPO prices is the major advantage of Freedom24, which sets it apart from other platforms. However, be aware that the minimum requirement to participate in an IPO is set at $2,000 and that the fees are quite high (3-5% of the trade amount + 0.5% of the transaction amount).
Speaking of the fee structure, it is somewhat complex, with different fees for each subscription level (which start from €0 per month). There is also a €7 withdrawal fee and an above-average currency conversion fee for all subscription levels. There are also some additional fees for stock options (€0.65 per contract) and margin lending (12% yearly).
There is a Promo fee plan for all new users for the first 30 days, with virtually zero fees for stocks, ETFs, and options trading. You can see all the fees in more detail here.
You can find more info about the platform in our more detailed Freedom24 review.
- Access to IPO stocks at starting prices
- Low fees on stock and ETF trading
- Modern, intuitive, and simple to use platform
- Withdrawal fee (€7)
- Above average currency conversion fees
- High minimum deposit ($2,000) and high fees for IPO stocks
The bottom line
To summarize, here’s our list of DEGIRO Alternatives:
|#1||Interactive Brokers||Best global broker overall|
|#2||Trading212||Best for commission-free stocks and ETFs|
|#3||eToro||Best for commission-free stock trading and social investing|
|#4||Plus500||Best for CFD trading|
|#5||Saxo Bank||Best for experienced traders|
|#6||Freedom24||Best for new stocks at the IPO price|
Choosing a broker among numerous options can be a daunting task. The key is to choose a broker that best suits your investing needs because there is no such thing as one broker tailored to all customers. All of them have certain pros and cons which may be more or less important to you.
Hopefully, we made it easier for you to choose an alternative to DEGIRO with this article. Let us know what you think about the article and if you have any suggestions in the comments below!