In today’s article, I will be discussing some of the best stockbrokers available in Europe.
If you have any questions or want to invest as an expat or high-net-worth individual, you can email me (advice@adamfayed.com) or use these contact options.
Introduction to Top European Stockbrokers 2023
This list has been provided while considering various aspects into consideration such as fees, safety, markets, products, etc.
I will also conclude most of the important information related to these stockbrokers along with links to their websites.
All the information provided within this article is accurate and up-to-date by the time I’m writing this.
There is a good chance that the exact information related to aspects like fees might change while you read this.
Therefore, it is suggested to contact the stockbroker so as to find the necessary information.
You should also know that I am in no way affiliated with any of these brokers and neither do I endorse them.
All the information is provided for strictly educational purposes and it should be treated that way instead of actual advice.
Investment-related decisions should be made only after contacting your financial advisor (if you have one).
If you are a DIY investor, you should conduct some due research before going ahead with choosing a broker.
Without further ado, let us dive into our topic for today, i.e., Top European Stockbrokers in 2023.
Interactive Brokers
As with any list that I talk about stockbrokers, this one also consists of the world’s leading trading platform Interactive Brokers.
Interactive Brokers offers services in 218 countries, which includes all countries in Europe unless suggested otherwise.
Here’s a snapshot of Interactive Brokers, which includes all the necessary information.
The information related to Interactive Brokers given below is mainly focused on Europe accounts and stock trading.
If you are an individual from Ireland, click here, and if you are from the UK, click here.
Account
There are different types of accounts offered by Interactive Brokers in Europe as follows.
— Individual account
— Joint account
— Trust account
— Company account
— Proprietary trading group account
— Advisor account
Accounts at Interactive Brokers are available for clients in more than 200 countries and territories.
Fees (Stock Trading)
As a non-US investor, you have two pricing options namely tiered or fixed.
The fees you pay will depend on the type of assets you plan to trade and how much you’re investing.
Here are the fees you can expect for the most common financial assets:
Tiered Plan
For US stocks/ETFs, you’ll pay $0.0035 per share (the minimum fee is $0.35 and the maximum fee is 1% of the trade value).
For UK stocks/ETFs, you’ll pay 0.05% of the trade value (minimum fee is £1 and no maximum fee).
For European stocks/ETFs, you’ll pay 0.05% of the trade value (minimum fee is €1.25 and maximum fee is €29).
Fixed Plan
For US stocks/ETFs, you’ll pay a fixed fee of $0.005 per share (minimum fee is $1 and maximum fee is 1% of the trade value).
For UK stocks/ETFs, you’ll pay 0.05% of the trade value (minimum fee is £3 and no maximum fee).
For European stocks/ETFs, you’ll pay 0.05% of the trade value (minimum fee is €3 and no maximum fee).
No minimum deposit.
No inactivity fee.
No withdrawal fee.
The currency conversion fee is 0.002%, which is 0.20 basis points.
Trading Platforms
Most reviews for the trading platforms of Interactive Brokers are somewhat mediocre. They have all three types of trading platforms available, i.e., mobile, desktop, and web-based.
Markets (Stocks and ETFs)
Since we are focusing on stockbrokers, I have listed the markets and products related to stocks and ETFs.
Interactive Brokers offers access to up to 150 exchanges in more than 30 countries.
Fractional shares can be accessed when the stocks/ETFs are from US and Europe.
Number of stock markets – 83
Number of ETFs – 13,000
Research and Education
Both research and education provided by Interactive Brokers are competitive. Research tools may not be considered to be user-friendly compared to industry leaders.
Safety
Interactive Brokers is a safe option for investors. It is regulated by top-tier financial authorities like the SEC and FCA.
The company also has several subsidiaries, each with its protection scheme for investors.
For example, UK residents are protected up to £85,000 by Interactive Brokers UK Limited.
Northern and Western Europe residents are protected up to €20,000 by Interactive Brokers Ireland Limited.
For residents of Central/Eastern European countries, Cyprus, Malta, and Greece, Interactive Brokers Central Europe provides investor protection up to €100,000.
This is overseen by the Central Bank of Hungary (MNB).
What Do I Think?
Interactive Brokers is a reputable brokerage firm with low commissions on US stock trading.
Investors with balances over 10,000 EUR/USD can earn interest on uninvested cash up to 2.23% for EUR balances.
The broker offers a wide range of products and markets, and users can try out a demo account.
However, the account opening process is complicated and lengthy, and the website can be difficult to navigate.
Nonetheless, the broker offers extensive research and education tools, as well as a modern mobile trading app.
This calls for simplified trading in stocks, options, and ETFs, which is perfect for novice investors.
To access the services or more details related to Interactive Brokers, click here.
eToro
eToro offers low-cost trading when it comes to stocks and other financial instruments.
It offers access to users from over 140 countries, which includes most of the European countries.
Let us have a look at some of the important information related to eToro.
Account Details
eToro offers a simple and user-friendly account opening process for all users.
You can start by signing up with your email, Google account, or Facebook account.
After that, you will need to verify your identity by uploading a copy of your ID and proof of address.
Fees (Stock Trading)
A $5 withdrawal fee. There is also a $10 inactivity fee after the accounts remain inactive for a period of one year.
There is also a currency conversion fee for non-USD deposits.
Only one base currency is available, i.e., USD, and therefore, all the users are subject to currency conversion fees.
eToro charges no commission on stock trading, but there is a spread, which is the difference between the bid and ask prices.
The spread varies depending on the asset and market conditions. For example, the spread for Apple stocks is around 0.09%.
The minimum deposit starts from $10 and can be as high as $10,000 depending on the country of residence.
However, for most European users, it is around $50 to $200.
Trading Platforms
eToro offers a web-based trading platform and a mobile app.
Both are user-friendly and easy to navigate, making them suitable for beginner traders.
The platforms also offer social trading features, which allow you to follow and copy other traders.
Markets (Stocks and ETFs)
eToro offers a wide range of stocks and ETFs from various markets, including the US, Europe, and Asia.
Number of stock exchanges – 17
Number of ETFs – 145
You can invest in fractional shares, which means you can buy a portion of a share if you cannot afford a full share.
Research and Education
eToro provides educational resources for beginner traders, including trading guides, webinars, and a trading academy.
The platform also has a news feed that covers financial news and market updates.
Safety
eToro is regulated by top-tier financial authorities, including:
— Financial Conduct Authority (FCA)
— Australian Securities and Investments Commission (ASIC)
— Cyprus Securities and Exchange Commission (CySEC)
Additionally, eToro keeps clients’ funds in segregated accounts to protect them in case of bankruptcy.
What Do I Think?
eToro offers zero-commission stock trading and has innovative features such as social trading and copying other successful traders.
Customer support is difficult to reach, and educational materials could be improved.
Overall, eToro is recommended for its social trading feature, crypto offerings, and commission-free stock trading.
But if you’re a long-term stock investor, a traditional stockbroker might be a better choice due to some of eToro’s drawbacks.
To access the services or more details related to eToro, click here.
XTB
XTB offers commission-free trading of stocks and ETFs for European clients.
Account opening
XTB has a swift, easy, and user-friendly account opening process.
It offers a fully digital account opening process, with no minimum deposit required.
Fees (Stock Trading)
XTB has low fees for stock trading, with zero commissions on ETFs and stock trading fees varying by the market.
XTB allows free withdrawals from your account, but the minimum amount varies depending on your country.
This ranges between $50 to €200 in most cases.
There is an inactivity fee of €10 after one year of inactivity or three months with no deposits made.
Trading Platforms
XTB provides a proprietary platform, xStation 5, which is user-friendly and comes with many advanced features.
XTB also offers the popular MetaTrader 4 platform, which is mostly used by traders.
Markets (Stocks and ETFs)
XTB offers a wide range of markets, including stocks and ETFs from different countries.
Number of stock markets – 17
Number of ETFs – 270
Research and Education
XTB provides excellent research tools with market analysis, daily news, and trading signals.
Additionally, it has an educational section with trading guides, videos, and webinars.
Safety
XTB is regulated by top-tier financial authorities such as:
— Financial Conduct Authority (FCA)
— Polish Financial Supervision Authority (KNF)
— Cyprus Securities and Exchange Commission (CySEC)
— National Securities Market Commission (CNMV)
— Dubai Financial Services (DFSA)
— International Financial Services Commission of Belize (IFSC)
What Do I Think?
In conclusion, this brokerage offers commission-free stocks and ETFs for certain products, but its portfolio is limited mostly to CFDs.
While it charges an inactivity fee, it provides free and fast deposit and withdrawal options.
It is particularly a great choice for beginners with no minimum deposit and great educational tools.
To access the services or more details related to XTB, click here.
DEGIRO
DEGIRO is a safe and low-cost broker, which offers access to global markets.
Let us have a look at the important details related to DEGIRO.
Account
DEGIRO offers a simple and fast account opening process.
You can open an individual or joint account, as well as a corporate account for legal entities.
Fees (Stock trading)
There is no minimum deposit requirement for an individual account. However, there is a €1,000 minimum deposit requirement for a corporate account.
DEGIRO has low trading fees. There is no inactivity fee or withdrawal fee, and most ETFs can be traded for free.
Stock and ETF trading fees are calculated as a percentage of the trade value. The maximum fee is €30 plus a stock exchange fee.
DEGIRO offers a wide range of international stock exchanges, and the trading fees vary depending on the exchange.
Trading Platforms
DEGIRO has a user-friendly web platform and a mobile platform that is available for both iOS and Android.
The web platform offers a simple, easy-to-use interface with a good overview of your portfolio and account details.
The mobile platform is well-designed and easy to use, with most of the features available on the web platform.
Markets (Stocks and ETFs):
DEGIRO offers access to a wide range of international markets, including Europe, North America, and Asia.
DEGIRO offers a wide range of products, including stocks, ETFs, bonds, options, futures, and more.
Number of stock markets – 29
Number of ETFs – 5,400
Research and Education
DEGIRO offers a range of educational resources, including a knowledge center, webinars, and a demo account for practicing trading.
DEGIRO also offers a basic level of research tools, including stock profiles, news feeds, and market data.
Safety
DEGIRO is regulated by:
— Dutch Financial Markets Authority (AFM)
— Dutch Central Bank (DNB)
— Financial Conduct Authority (FCA)
DEGIRO also provides additional security measures, such as two-factor authentication and a separate login code for trading.
What Do I Think?
DEGIRO is a great stockbroker offering low transaction costs, yet it does have some drawbacks.
On the bright side, we have low fees, regulations, and great-to-use trading platforms.
On the downside, the research tools are limited and deposits can’t be made through credit/debit cards.
To access the services or more details related to DEGIRO, click here.
MEXEM
MEXEM is a global stockbroker, which is known for low fees and good research tools.
Account
Like all other trading platforms, MEXEM also has a user-friendly account opening process.
There are numerous types of accounts offered by MEXEM, which are listed below.
— Individual
— Joint
— Family Office
— Friends and Family
— Small Business
— Advisor
— Funding Manager
— Copyright Trading Group
— Hedge and Mutual Fund
— Compliance Officers
These account types are based on the type of client, i.e., individual or institution.
Fees (Stock trading)
No inactivity fee.
No deposit/withdrawal fees. However, the first withdrawal is free within a month. Following that, each withdrawal cost $10, €1 (SEPA), €8 for wire transfers, or £7.
The stock and ETF fees at MEXEM have been listed below.
Trading stocks and ETFs quoted in USD: $0.005 per share with a minimum of $2.5 per trade and a maximum of 2% of order value.
Stocks in other markets:
— EUR: 0.06% fee
— GBP: 0.08% fee
— CAD: $0.01 per share fee
Trading Platforms
The web trading platform is good for beginners as well as advanced traders. However, it is not as efficient as the industry-leading competitors.
The mobile trading platform comes with a great amount of functionality and an effective chatbot. Not good in terms of user-friendliness.
The desktop trading platform has good customizability features and top-notch order execution features. It is apt for advanced traders because of its complexity.
Markets (Stocks and ETFs)
MEXEM offers access to a wide range of markets, especially when it comes to stocks and ETFs.
Number of stock markets – 83
Number of ETFs – 13,000
Research and Education
The research tools are excellent, yet they are complex and only suitable for advanced traders.
MEXEM provides good educational resources like tutorial videos and webinars, including the availability of a demo account.
Safety
MEXEM is the introductory broker from IBIE, which is the Irish subsidiary of Interactive Brokers.
The IBIE is regulated by the Central Bank of Ireland, and the investments at MEXEM are held with IB.
The Central Bank of Ireland offers a protection amount of €20,000 to all the clients of MEXEM.
What Do I Think?
MEXEM is a specialized EU stockbroker, which is a great choice for advanced traders.
The stock and ETF fees are low along with access to a good range of markets and products.
This broker still has room for improvement in aspects such as complexity in user-friendliness.
Nonetheless, MEXEM has a special place in our list being considered one of the best stockbrokers available in Europe.
To access the services or additional details related to MEXEM, click here.
CapTrader
This is a German stockbroker that also offers low stock and ETF fees. Just like MEXEM, CapTrader also shares links with Interactive Brokers (which is considered one of the best available).
Let us have a look at some of the important details related to CapTrader.
Account
The account opening process with CapTrader doesn’t seem to be as easy as other stockbrokers mentioned in this list.
Even though it can be completed online, the process is time-taking and complex.
The account types available at CapTrader are almost the same as those available at MEXEM.
Given below are the types of accounts available with CapTrader.
— Individual
— Joint
— Trust
— Friends and family
— Family Office
— Small Business
— Advisor
— Money Manager
Fees (Stock Trading)
There is an availability of nine base currencies when you opt for trading with CapTrader.
The trading fees related to US stock trading are around $0.01 per share while having a minimum of $2 and a maximum of 1% of the total trade value.
The stock trading fees are fixed at £8 if the trade value lies below £50,000.
On the other hand, if the trade value exceeds £50,000, then there would be a 0.05% additional fee along with the £8.
When it comes to German stocks, the commission lies around 0.1% of the trade value.
You should take this into careful consideration that the minimum value for this commission is €4 and the maximum value is €99.
The minimum deposit for opening an account with CapTrader is $2,000.
Trading Platforms
The WebTrader platform comes with features like user-friendliness, clear fee report, and safe two-step login.
The mobile trading platform may not be apt for beginners and has some good features for advanced traders.
The desktop trading platform comes with great customizability and multiple order types. This too is a complex platform for beginners and the search function could do better.
Markets (Stocks and ETFs)
One of the best features of CapTrader is the access it provides to various investment products.
Number of stock markets – 78
Number of ETFs – 13,000
Research and Education
Even when there are several types of research tools offered with CapTrader, they aren’t user-friendly.
Educational resources like trading platform tutorials, educational videos, etc., are offered along with a demo account.
However, the education-specific page at CapTrader is not the best available (related to page structure). Additionally, most of the educational content offered by CapTrader is only available in German.
Safety
CapTrader is also an introducing broker to IBIE of the Interactive Brokers.
Just like MEXEM, the assets are held with IB, and IBIE is regulated by the Central Bank of Ireland.
All clients of CapTrader are provided with protection for an amount up to €20,000 by the Central Bank of Ireland.
What Do I Think?
To be specific, CapTrader is a good stockbroker for investors as well as traders. Nonetheless, it should be remembered that this broker is only apt for advanced traders.
To access more details or services related to CapTrader, click here.
Honourable Mentions
Apart from those mentioned in this list, there are some other brokers that are deemed to be a good choice for European investors.
Some of them are:
— Saxo Bank
Click here to access the detailed review provided for Saxo Bank, which includes all the necessary information.
Click here to access the official website of Saxo Bank to knowing additional details or opening an account with them.
— Tastytrade
Click here to access the official website of Tastytrade to knowing the necessary details or opening an account with them.
— Alpaca Trading (for US markets)
Click here to access the official website of Alpaca Trading to knowing the necessary details or opening an account with them.
Bottom Line
Based on some of the important aspects of a stockbroker, I have come up with this list.
The specific broker considered to be the best choice for you will depend on your preferences.
For instance, some investors might be looking for a broker offering low fees. Whereas some other investors might search for research tools or access to more markets.
Based on the overall aspects deemed important while choosing a broker, these are some of the best.
You should remember that I don’t endorse or recommend any of these brokers. This article is meant for educational purposes and it shouldn’t be considered as actual investment advice.
While choosing a broker, it is wise to consult your financial advisor and make decisions accordingly.
That being said I strongly hope that the information within this article helped you in getting the details you needed.
I think that DIY investing may involve a higher number of risks compared to acquiring services from a financial expert.
If you need tailored investment solutions based on your financial goals. You have come to the right place.
I offer top-notch services to my clients, which include expat-specific solutions, services for growing wealth, better ROI than a bank account, etc.
Over the past few years, I was able to help numerous clients all over the world achieve their financial goals.
Feel free to contact me to find out whether you can benefit from the best-in-class financial solutions I offer.
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