8 Best Brokers in Europe for Beginners (2027): Compared

The best brokers in Europe for beginners make it affordable to buy the investments you need and straightforward to manage the account where you live. If you plan to invest €100 a month into one ETF, start with an eligible savings plan that has no execution fee. If you are investing a larger sum, give more attention to tax administration, market access and the ability to transfer your holdings later.

Table of Contents

Trade Republic, Scalable Capital, Trading 212, XTB and Revolut offer routes worth checking for regular investing. DEGIRO, Interactive Brokers and Saxo broaden the comparison for investors making manual purchases or looking for different account capabilities. Availability and local terms determine which belong on your shortlist.

This guide covers real shares and UCITS ETFs. Some of the brokers also offer CFDs, but those are different products and are excluded from the investment-cost comparison.

Last checked: 27 September 2026. This guide is prepared for 2027 using currently published terms. Fees, country availability and tax services can change; the figures below are not guaranteed 2027 tariffs.

Quick comparison: which brokers are worth a closer look?

Broker	Reason to shortlist it	Check before opening
Trade Republic	Regular ETF savings	Country eligibility and costs outside the savings plan
Scalable Capital	ETF plans with a free account option	Whether you need a paid subscription
DEGIRO	Manual ETF and share purchases	The exchange attached to the advertised fee
Interactive Brokers	Market access and pricing choices	Minimum commissions and account settings
Trading 212	Small purchases and automation	Invest account, conversion fees and transfer limits
XTB	Real shares, ETFs and investment plans	Product classification and currency conversion
Revolut	Eligible ETF plans inside an existing app	Eligible funds and local investment terms
Saxo	An alternative brokerage setup	Your country’s complete tariff

For a first ETF portfolio, a suitable free savings plan is a useful starting point. A local tax service or account wrapper can still be worth more than the saving on commissions.

What we compared

These eight providers represent different ways to invest. The list is not a ranking of every European broker, and inclusion does not mean that a provider accepts residents of all 27 EU countries.

The assessment uses official product information, fee schedules and regulatory sources. It does not claim hands-on testing of every platform or customer-support team. The order of the brokers is not a performance ranking.

The questions are practical: can you open the account, buy the intended investment, understand the charges, handle the tax obligations and move your holdings if necessary?

Local banks and specialist brokers remain worth considering when they provide a useful tax account or administrative service. A low commission is one part of that decision.

Eight brokers and the details that could change your choice

Trade Republic: look at the savings plan first

Trade Republic’s published savings-plan terms distinguish scheduled purchases from individual trades. The cited Slovenian help page states that plan executions have no fee and that selling units carries a €1 external settlement charge per single trade. Fund expenses and spreads still matter.

That is a relevant starting point for someone contributing regularly. It is not a promise that every order or execution option has the same price.

Eligibility comes first. Trade Republic’s published list covers selected European markets, not every EU country. Slovenia appears on that list; Croatia does not appear at the date checked. Living in a neighbouring country does not establish eligibility.

Before applying, check the savings-plan terms and supported countries, then use the tariff supplied for your account.

Scalable Capital: the paid plan needs to earn its place

Scalable’s Spanish price page lists FREE at €0 per month and PRIME+ at €4.99. Savings-plan executions cost €0 under both. Manual orders have separate conditions, including trade size, product and execution venue.

If your routine is one eligible ETF savings plan each month, the free account already provides the execution-fee benefit. The subscription needs another reason to justify its €59.88 annual cost.

Scalable’s account-opening page lists Germany, Austria, Italy, Spain, metropolitan France and the Netherlands as supported places of residence. Its offer should not be presented as available throughout the EU.

Sources: Spanish pricing and account-opening requirements.

DEGIRO: check the exchange, not just the fund name

DEGIRO’s Irish Core Selection page advertises a €1 handling fee for ETFs, ETCs and ETNs available on Tradegate. Currency, product and spread costs can apply.

The venue is part of the offer. Buying the same fund on another exchange does not automatically qualify for that tariff.

Also notice that this selection includes products other than ETFs. A low-cost list containing ETCs and ETNs should not be described as a list of diversified UCITS funds. Check the product type and ISIN before placing an order.

DEGIRO is worth comparing for manual purchases when the required fund and trading venue fit your plan. Review any additional account or exchange-connectivity charges in the applicable schedule.

Sources: Irish Core Selection and Irish fee schedule.

Interactive Brokers: small orders make minimum charges visible

Interactive Brokers offers fixed and tiered pricing. Several euro-market schedules list a starting tiered rate of 0.05% with a €1.25 minimum for applicable whole-share orders. Additional exchange and other charges can apply; fractional-order conditions require a separate check.

A €1.25 commission represents 1.25% of a €100 purchase and 0.125% of a €1,000 purchase. The percentage rate alone therefore tells a small investor very little.

IBKR also offers recurring investments for eligible securities. Automation does not, by itself, imply commission-free execution.

It is worth investigating when you need the markets, currencies or account capabilities it provides. Before choosing a pricing model, preview a representative order for the actual ETF and exchange.

Sources: market-specific commissions and recurring investments.

Trading 212: choose the right account and watch conversion

Trading 212’s published Invest fee page lists zero trading commission, zero custody fee and a 0.15% FX fee when conversion applies. Relevant external taxes and charges remain separate; funding methods can also have their own conditions.

The Invest account supports multiple currencies. Pies use the primary currency, so purchases of holdings in another currency can incur conversion charges.

For a beginner, the first check is whether the account is Invest or CFD. These are different services. The second is whether the intended holdings can leave the platform later: Trading 212 states that fractional shares cannot be transferred as fractions.

Sources: Invest fees, multi-currency arrangements and fractional holdings.

XTB: separate real investments from CFDs

XTB’s Portuguese terms describe zero commission on real shares and ETFs up to €100,000 in accumulated monthly turnover. Above the threshold, the stated commission is 0.2%, with a €10 minimum. The threshold concerns trading turnover, not the value of your account.

The published conversion margin is 0.5% where relevant currency conversion occurs. On €1,000, that is €5, so the account currency and instrument currency deserve attention even when commission is zero. Review the local inactivity conditions too.

XTB offers real investments alongside CFDs. Confirm the classification in the order ticket rather than relying on the name of the share or ETF.

Sources: Portuguese fees and conditions and German investment-plan information.

Revolut: eligibility determines the plan’s value

Revolut’s German help page describes commission-free recurring and one-off purchases under its eligible investment-plan offering, including purchases beyond the normal monthly commission-free allowance. Product and currency-exchange costs can still apply.

For an existing customer, that can make a regular investment convenient. First check that the intended ETF qualifies and that the same service is offered to your account in your country.

Then review selling costs, orders outside the plan and transfer support. Already using the banking app is a useful convenience, but it does not answer those investment-account questions.

Source: Revolut’s German investment-plan terms.

Saxo: price the account you would actually open

Saxo’s international charges page directs investors to local conditions. It explains that custody charges depend on account location, holdings and account setup. Applying one headline price to every European reader would be misleading.

Include Saxo when comparing its available markets and services with the other candidates, then calculate the cost for your own country and intended portfolio.

For a small ETF account, any recurring charge deserves scrutiny. For a larger account, the useful question is whether the services you need justify the total cost. Product breadth alone is not a benefit if you never use it.

Source: Saxo’s general charges and local-pricing guidance.

Put your investing routine through a cost check

A useful European broker comparison starts with what you will actually buy. Write down the contribution amount, frequency, ETF and trading currency before comparing prices.

The table below illustrates four fee structures. It is not a quotation from any broker or an assumption that the same fund is available through every route.

Purchase-fee model	Twelve €100 purchases	Twelve €500 purchases	One €5,000 purchase
€0 execution fee on qualifying purchases	€0	€0	€0 if the order qualifies
€1 per order	€12	€12	€1
0.05%, minimum €1.25 per order	€15	€15	€2.50
0.05%, minimum €3 per order	€36	€36	€3

Finorum calculations. Assumes the stated purchase amounts can be executed under the illustrated tariff. Excludes fund expenses, spreads, subscriptions, additional exchange charges, currency conversion, taxes and sales. Fractional orders can have different terms. A free scheduled plan does not establish the price of a manual purchase.

For €100 monthly contributions, €36 in purchase fees equals 3% of the €1,200 contributed during the year. With €500 monthly contributions, the same fee is 0.6% of the €6,000 contributed. Neither percentage is an annual charge on the portfolio’s market value.

This is where minimum commissions matter when comparing low-cost brokers in Europe.

Would a subscription save you money?

Use this calculation:

Break-even trades = annual subscription cost ÷ fee saved per qualifying trade

If a €59.88 annual subscription saves €0.99 on each qualifying order, it takes approximately 61 orders a year to recover the subscription through those savings alone.

The calculation assumes every counted order would otherwise incur the charge and qualifies for the discount. If the purchases are already free through a savings plan, there is no execution-fee saving to recover. Other benefits need their own assessment.

Keep conversion costs separate from currency risk

Converting €1,000 at a 0.15% fee costs €1.50. At 0.50%, it costs €5. Check whether conversion happens again when you sell and whether a minimum charge applies.

Funding in euros and buying a euro trading line can avoid a broker conversion for that transaction. It does not remove the underlying currency exposure of a global equity fund.

If you have not chosen the fund yet, Finorum’s UCITS ETF guide explains the product-level checks. Select the investment first, then confirm that the broker offers the intended share class and trading line.

Where you live can change the shortlist

France: check whether a PEA fits the plan

For a French resident, the choice between a standard securities account and a Plan d’épargne en actions, or PEA, deserves attention before a comparison of commissions.

Under the published framework, qualifying gains withdrawn after five years benefit from an income-tax exemption, while social contributions remain relevant. Account conditions and investment eligibility apply. A UCITS label alone does not establish PEA eligibility. Official PEA guidance.

Check whether the broker offers the account and whether your intended ETF can be held within it.

Italy: an annual statement is not a tax service

An Italian resident should ask whether the account operates under regime amministrato or regime dichiarativo.

Under the administered regime, the intermediary calculates and pays the relevant substitute tax on covered gains. In a declarative arrangement, more of the work remains with the investor. The tax authority identifies the intermediary’s payment responsibilities within the administered regime. Agenzia delle Entrate.

Ask what is actually included for your account. A downloadable report can help with a return without replacing it, and an administered service does not automatically settle every possible tax obligation.

Germany: examine the tax settings when opening

German residents should check whether the account provides the relevant domestic withholding process and supports a Freistellungsauftrag, where applicable. The exemption-order mechanism is set out in Section 44a of the German Income Tax Act.

An international brand can offer different services through different entities. Confirm the arrangement for your account rather than assuming that another customer’s experience applies.

Moving country: ask before the move

A broker that accepts you today might handle a future change of residence through new paperwork, another entity or restrictions on services. Ask about your intended destination before transferring your financial life to the account.

Keep copies of purchase records and tax reports. Continued access to the same app does not mean the tax treatment remains unchanged.

Three starting points, three different priorities

You can invest €100 a month. An eligible ETF plan without an execution fee is worth prioritising. Check the minimum contribution and tax records, then keep the setup manageable. A subscription needs a clear benefit at this level.

You have €5,000 for occasional purchases. Compare the actual order and account costs. The difference between a €1 and €3 purchase is €2; a recurring annual charge or unwanted tax-administration burden can be more consequential.

You have €25,000 and expect to relocate. Transferability, cost-basis records and continued eligibility move higher up the list. The size of the portfolio does not remove those administrative problems.

These are illustrative situations, not accounts of customers choosing particular brokers. For a small first portfolio, see Finorum’s €1,000 ETF portfolio guide.

Before confirming an order: ETF or ETF CFD?

A broker can offer an ETF and a CFD referencing that ETF. The name on the screen can look familiar in both cases.

A whole ETF holding gives you an interest in the fund through the account’s custody structure. A CFD is a derivative contract linked to price movements; it does not give you ownership of the underlying ETF. Fractional interests require a separate look at their legal terms and should not automatically be treated as either full fund units or CFDs.

Feature	Fully paid ETF units	ETF CFD
What you hold	An interest in the fund	A derivative contract
Ownership of underlying ETF units	Through the custody arrangement	No
Borrowing required	No	Margin and leverage are common features
CFD overnight-financing charge	No	Can apply
Included in this investment-cost comparison	Yes	No

Check the account type, product classification and order confirmation. ESMA warns that CFDs are complex speculative products with significant risks. Their leverage and financing require a separate assessment. ESMA’s investor warning.

Understand what protection applies to your money

The safety question has three parts: your securities, your uninvested cash and any eligible claim for assets that cannot be returned.

MiFID II requires firms holding client financial instruments to make arrangements to safeguard ownership rights, especially in insolvency. That protection does not mean a failed broker can always return everything immediately. Reconciliation and transfers can take time. MiFID II, Article 16.

For cash, establish where it is held. Eligible bank deposits generally have statutory protection up to €100,000 per depositor per bank, subject to the applicable conditions. A money-market fund is not a bank deposit, even if an app displays it alongside a cash balance. BaFin’s deposit-protection explanation.

Investor-compensation schemes serve another purpose. Germany’s EdW describes compensation of 90% of eligible claims, capped at €20,000. It is not the €100,000 deposit guarantee, does not cover investment performance and does not apply to every German broker simply because it is German. EdW’s official explanation.

A €20,000 compensation ceiling also does not automatically limit the return of separately held securities to €20,000. Compensation and recovery of client assets are different processes.

Identify the legal entity in your agreement and verify its authorisation and protection arrangements. The group’s best-known regulator might not supervise the entity serving you.

Commission-free pricing after the PFOF deadline

The EU introduced a general prohibition on payment for order flow, with permitted transitional exemptions ending by 30 June 2026. For a 2027 account decision, that deadline belongs in the past. Council of the EU.

The rule does not establish that every commission-free service must disappear. It does make older explanations of how brokers fund their offers unreliable without checking current arrangements.

Use the applicable tariff and order preview. Zero commission still leaves spreads, fund costs and any conversion or other charges to consider. It also tells you nothing by itself about execution quality.

Check how you would leave

Before opening the account, find the outgoing-transfer terms. Can the broker transfer your intended holdings without selling them? Does the receiving broker support those securities? What happens to purchase-cost records and fractional interests?

Trading 212, for example, states that fractions cannot be transferred to another broker. Whole-share holdings can have different transfer options. Selling a remaining fraction can create a tax event even when the rest of the position moves without sale. Fractional-share conditions.

Save trade confirmations and tax reports independently. A cheap account is more useful when you can also leave it on understandable terms.

A six-point check before you choose

Eligibility: the provider accepts your residence and tax status.
Investment: the exact fund or share you want is available in the intended account.
Ownership and protection: you understand the legal entity, custody arrangement and product type.
Cost: you have calculated purchases, conversion and recurring charges for your routine.
Tax work: you know what the broker handles and what you must do yourself.
Transfer: you understand the exit fees and restrictions.

Use these checks to reduce the list to two or three providers. Then compare the actual account documents and a sample order. That gives you a firmer basis for choosing than an unexplained score or the longest feature list.

FAQ

Can I open an account with any EU broker?

No. Providers set supported countries and eligibility requirements. EU authorisation does not oblige a broker to accept every EU resident.

What is the best broker for investing €100 a month in Europe?

Start with eligible ETF savings plans in your country that do not charge an execution fee. Then compare the required fund, tax service and account terms. There is little value in a cheap plan that cannot buy what you need.

Are commission-free brokers really free?

No. Currency conversion, spreads, fund expenses and other charges can remain. Check both the tariff and the order preview, including any costs attached to funding the account.

Do I need a margin account to buy ETFs?

No. Ordinary fully paid ETF purchases do not require borrowing. A cash account is a straightforward starting point where it supports the intended investments.

Can I transfer ETFs without selling them?

An in-specie transfer can move supported holdings without a sale. Both providers must support the transfer and the securities involved. Fractions and tax-advantaged accounts need particular attention.

Does a broker’s tax report mean I have nothing to declare?

No. Providing information, withholding tax and satisfying a filing obligation are different services. Confirm which apply to your account and tax residence.

Disclaimer: The information provided on Finorum is for educational and informational purposes only and does not constitute personalised financial, investment or tax advice. Investing involves risk, including the potential loss of capital. Always conduct your own research and, where needed, consult a qualified financial or tax adviser before making investment decisions. Tax treatment depends on individual circumstances and applicable rules, which can change over time.

Matias Buće

Matias Buće has a formal background in administrative law and more than ten years of experience studying global markets, forex trading, and personal finance. His legal training shapes his approach to investing — with a focus on regulation, structure, and risk management. At Finorum, he writes about a broad range of financial topics, from European ETFs to practical personal finance strategies for everyday investors.