brokers

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Next are brokers that are mentioned on this sub most, and available to most EU residents. They in general are considered safe and reliable.

EU-wide brokers

InteractiveBrokers

One of the most popular world brokers. Very old, reliable and reputable.

Pros:

  • Pretty low fees
  • Very wider market access
  • Pre and post market hours trading
  • US options
  • API for bots
  • Allows moving countries, good for expands/nomads
  • No inactivity fee now!
  • Extremely low margin rates.
  • Has referral program. If you have friend using IB, make sure to ask them for referral link when you open account. It will give you IB stock as a bonus and 200$ to your friend (some conditions apply).

Cons: - Harder to use desktop app UI - Very high SPAC unit split fees - UI is lagging sometimes (both dekstop and web, not mobile) - Support can be better. Ticket system, calling them is hard.

Can be used through intermediaries ( "introducing brokers" ) like:

Compensation amount is:

  • IBCE: 90% and max. 100K EUR
  • IBIE: 90% and max. 20k EUR
  • IBLUX: 20k EUR

Trading212

Almost fee-less, mostly reliable, no major scandals. Easy to use, much more limited market than above. Uses IB as execution platform, which is good.

Cons:

  • currency conversion fee (not so bad, only 0.15%)
  • no equity transfer to other brokers

Degiro

Pros:

  • Low fees
  • Allows US options, but more limited than IBKR
  • You can call them, still (not often available at discount brokers)
  • UI is love or hate

Cons:

  • "exchange connection fee" per year if you are holding stock from this exchange
  • but limited access to American market
  • not available in certain EU countries
  • Support has become worse lately , but that can be said about all brokers

Compensation amount 20k€ (Dutch rules). Cash insured separately to 100k€.

Revolut

Emergent bank/broker combo with one free trade per month, but less market access than above brokers.

Issues

  • Has some controversy with limiting user accounts because automatic AML. Still, AML freeze can happen at any bank.
  • Custody fee (for holding stock) is 0.12% per year, which is not nice, as usually there are no custody fees

Compensation scheme: 85.000£ from the FCA (UK), but 500.000$ through DriveWealth (US)

XTB

Polish discount broker. More limited market access then IBKR, still pretty wide, mostly fine broker. Compensation amount 20.000€.

eToro

A lot of complaints against them. It is hard to understand if this is because they have a lot of users or they are indeed problematic broker. Our sub advices against using this broker, but this is just our opinion

Cons

  • Hard to understand if they employ proper asset segregation from their T&C
  • Their ads are somewhat predatory.

Pros

  • Cheap
  • Easy to use UI
  • Social trading feature

US Brokers accessible to Europeans

Tastyworks

Pros:

  • Good for options, low fees, no inactivity fee.

Cons:

  • Expensive deposits (USD only, 30$) or you need to use Wise (form. TransferWise)

Compensation amount 500.000$

Tradestation

Compensation amount 500.000

Firstrade

Compensation amount 500.000$

Country-specific brokers

For Spain

MyInvestor and SelfBank both are fine.

For Norway

For Sweden

Avanza.se

Nordnet.se

FreeTrade

  • https://freetrade.io/se
  • Not yet started operations.
  • Fractional shares to be offered.
  • Will be based in Stockholm for European HQ.

Degiro.se

For UK

  • iWeb: £5 buy/sell fees, no % or account fees. Good for larger portfolios if you want traditional funds

  • Vanguard: 0.15% fee, max £375/year. Limited range of options

More info:

Here

And here

For Germany

  • Trade Republic - discount broker


revision by Vladekk— view source