Finding a good trading broker in Europe used to be painful. High commissions, clunky platforms, and limited market access were the norm. That’s changed dramatically.
Today, European investors have access to some of the cheapest trading platforms in the world. But more choice also means more confusion. Some brokers advertise “zero commission” while burying costs in spreads and currency conversion fees. Others are cheap on paper but charge you for every little thing.
I’ve been investing through European brokers for years. Here’s my honest breakdown of the best low-commission options in 2026, including what they actually cost when you look beyond the headlines.
One important update for 2026: The EU’s ban on Payment for Order Flow (PFOF) takes full effect on June 30, 2026. PFOF is how many “free” brokers made money — routing your orders to market makers who paid them for the privilege. With the ban, some brokers may adjust their fee structures. I’ll update this article as those changes roll out.
Disclaimer: I do not provide investment advice. Investing in stocks, ETFs, and other financial instruments involves risks, including the possibility of losing your entire investment. Please do your own research before making any investment decisions.
Best Low-Commission Trading Brokers in Europe (2026)
Here’s a quick overview before we dive into the details:
- DEGIRO — Best overall for low-cost trading with a simple interface
- Interactive Brokers — Cheapest for active traders and large portfolios
- eToro — Best for social/copy trading and commission-free ETFs
- Trade Republic — Best mobile-first experience with flat EUR 1 trades
- Lightyear — Best for commission-free ETF investing
- Scalable Capital — Best flat-rate option for frequent traders
DEGIRO — Best Overall for Low-Cost Trading
DEGIRO is a Dutch online broker founded in 2008 and now part of flatexDEGIRO, a publicly listed financial group. It’s regulated by the Dutch Central Bank (DNB) and the Netherlands Authority for Financial Markets (AFM). I’d consider it the best starting point for most European investors who want low costs without a steep learning curve.
Fees
DEGIRO’s fee structure is straightforward:
- Core Selection ETFs: Commission-free with just a EUR 1 handling fee. The first trade each month in any Core Selection ETF has no commission regardless of size. Additional trades in the same direction are also free if the order value exceeds EUR 1,000.
- Other ETFs: EUR 3 per transaction, plus a EUR 2.50 annual connectivity fee per exchange.
- European stocks: EUR 1 handling fee + a small percentage (e.g., EUR 1.75 + 0.022% on the London Stock Exchange).
- US stocks: EUR 1 handling fee per transaction.
- Currency conversion: 0.25% auto-FX mark-up, or EUR 10 + 0.25% for manual conversion.
- Account fees: No deposit fees, no withdrawal fees, no inactivity fee, no annual maintenance fee.
Key Features
- Access to ~50 global exchanges
- Products: stocks, ETFs, bonds, options, futures, leveraged products
- Supports EUR, GBP, CHF, USD, SEK, NOK, DKK, PLN, HUF, CZK
- Web and mobile platform (clean and simple)
- No minimum account deposit
Bottom line: DEGIRO hits the sweet spot between low fees and usability. It’s not the absolute cheapest for every trade type, but the overall package is hard to beat for the average European investor.
For a deeper look, check out my full DEGIRO review.
Interactive Brokers — Cheapest for Active Traders
Interactive Brokers (IBKR) is the benchmark for low-cost trading worldwide. If you’re an active trader, have a larger portfolio, or need access to markets and instruments that other brokers don’t cover, this is where you end up.
Fees
- European stocks/ETFs (Fixed pricing): 0.05% of trade value, minimum EUR 1.25 per order.
- European stocks/ETFs (Tiered pricing): Even cheaper for larger volumes, though it includes exchange and clearing fees separately.
- US stocks: $0.005 per share (min $1.00).
- Currency conversion: ~0.002% mark-up — by far the cheapest in the industry.
- Account fees: No account minimum, no annual fees, no inactivity fees, no withdrawal fees.
- Crypto (new for Europe): 0.12%-0.18% commission on 11 major cryptocurrencies, available 24/7.
Key Features
- Access to 150+ markets in 33 countries
- Products: stocks, ETFs, bonds, options, futures, forex, crypto, and more
- Powerful (but complex) Trader Workstation platform
- Fractional shares available
- Currency conversion at near-interbank rates
Bottom line: Interactive Brokers is the cheapest broker in Europe for most trade types, especially if you’re buying US stocks or need to convert currencies. The catch is the learning curve — the platform isn’t winning any design awards. But once you learn it, nothing else comes close on cost.
eToro — Best for Social Trading
Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
eToro has over 30 million users and is regulated by the FCA (UK), CySEC (EU), and ASIC (Australia). The platform’s main draw is its social and copy-trading features — you can automatically mirror the trades of other investors.
Fees (Updated 2026)
- Stocks: $1-$2 per trade (this changed from zero-commission in previous years, depending on your country and the exchange).
- ETFs: Zero commission.
- Crypto: 1% spread on buys, 0.6-1% on sells.
- Withdrawal fee: $5 for USD accounts. Free for GBP and EUR accounts.
- Inactivity fee: $10/month if you don’t log in for 12 months.
- Minimum deposit: $50-$200 depending on your country.
Key Features
- Copy-trading and CopyPortfolios
- Wide range: stocks, ETFs, crypto, forex, commodities, indices, CFDs
- Fractional shares available
- Demo account for practice
- Available in nearly all European countries
Bottom line: eToro isn’t the cheapest for pure stock trading anymore since they introduced per-trade fees. But the copy-trading feature is genuinely useful for beginners, and zero-commission ETFs still make it competitive for passive investors. Read my full eToro review for more details.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Trade Republic — Best Mobile-First Broker
Trade Republic is a German neobroker that’s taken Europe by storm. The proposition is dead simple: EUR 1 per trade, no matter what. Stocks, ETFs, bonds, crypto — everything costs EUR 1 in external settlement costs with zero commission.
Fees
- All trades: EUR 1 flat external settlement cost, zero commission.
- Savings plans (ETFs, stocks, crypto): Free. No per-execution fee.
- Crypto: 1-2% spread (the real cost is in the spread, not the EUR 1 fee).
- Account fees: No deposit, withdrawal, inactivity, or custody fees.
- Cash interest: 2.0% APY on uninvested cash, calculated daily, paid monthly.
Key Features
- Mobile-first design (also available on web)
- 8,500+ stocks and ETFs
- Free savings plans for automated investing
- Fractional shares from EUR 1
- Bonds available
- Available in 17 European countries
Bottom line: Trade Republic is perfect for passive investors who want to set up automatic savings plans and forget about them. The EUR 1 flat fee is transparent and easy to understand. The main limitation is that you’re trading on a single exchange (Hamburg LS Exchange), which can mean slightly wider spreads than what you’d get on IBKR or DEGIRO during low-volume periods.
Lightyear — Best for Commission-Free ETF Investing
Lightyear is a newer Estonian-founded broker that’s designed specifically for long-term investors who want to keep costs as low as possible.
Fees
- ETF trades: Zero execution fee. If the ETF is priced in your account currency, the all-in cost is literally zero.
- Stock trades: One free trade per month, then 0.25% per trade (min EUR 1 for EU stocks, min $0.10 for US stocks, max $1 for US stocks).
- Currency conversion: 0.35% FX mark-up.
- Account fees: No custody, inactivity, or withdrawal fees.
Key Features
- Commission-free ETF trading (the standout feature)
- 3,500+ stocks across US and European exchanges
- Clean, modern interface
- Multi-currency accounts (EUR, GBP, USD)
Bottom line: If you’re an ETF investor buying EUR-denominated UCITS ETFs from a EUR account, Lightyear is effectively free. No commission, no FX fee, no catch. For stock trading it’s competitive but not the cheapest. Worth watching as they expand their product range.
Scalable Capital — Best Flat-Rate for Frequent Traders
Scalable Capital is a German fintech that offers both a broker and a robo-advisor. The broker has a unique flat-rate pricing model.
Fees
- FREE plan: EUR 0.99 per trade for stocks/ETFs. Free savings plan executions. 2.0% interest on cash (capped at EUR 100K).
- PRIME+ plan (EUR 4.99/month): Unlimited trades at zero commission (for orders above EUR 250). Unlimited interest on uninvested cash at 2.0%.
- Savings plans: Free on all plans, with over 2,400 ETFs available.
Key Features
- 2,400+ ETFs and 7,500+ stocks
- Robo-advisor option for hands-off investing
- Crypto trading available
- Available in Germany, Austria, France, Italy, Spain, Netherlands
Bottom line: If you make more than 5 trades per month, the PRIME+ plan at EUR 4.99/month is excellent value — unlimited zero-commission trading pays for itself quickly. For infrequent traders, EUR 0.99 per trade is competitive but not the cheapest. Check out my Scalable Capital review for a deeper look.
How to Choose: What Matters Most
The “best” broker depends on how you invest:
- Passive ETF investor? Lightyear (free ETF trades) or Trade Republic (free savings plans) are hard to beat.
- Active stock trader? Interactive Brokers is the cheapest. Scalable Capital PRIME+ is a good alternative if you want a simpler interface.
- Beginner who wants guidance? eToro’s copy-trading or Scalable Capital’s robo-advisor.
- Large portfolio, multi-currency? Interactive Brokers, hands down. Their currency conversion rates are 100x cheaper than most competitors.
- Simple and affordable? DEGIRO. It’s the all-rounder.
One thing to keep in mind: the cheapest broker isn’t always the best one for you. A broker that’s EUR 2 more expensive per trade but has a better platform, better customer support, or better tax reporting tools might save you more in the long run.
Also see my roundup of the best online stock brokers in Europe for a broader comparison.
Frequently Asked Questions
What is the cheapest broker in Europe?
Interactive Brokers has the lowest trading fees overall, especially for US stocks and currency conversion. For ETF-only investors, Lightyear offers zero-commission ETF trading. Trade Republic charges a flat EUR 1 per trade for everything, which is the simplest fee structure.
Are zero-commission brokers really free?
No broker operates for free. “Zero commission” brokers make money through spreads, currency conversion fees, premium subscriptions, or (until June 2026 in most EU countries) Payment for Order Flow. Always look at the total cost of ownership, not just the headline commission rate.
What is the EU PFOF ban and how does it affect me?
The EU banned Payment for Order Flow (PFOF) effective June 30, 2026. PFOF is when brokers route your orders to specific market makers in exchange for a payment. The ban means brokers must prove orders are executed in your best interest. Some brokers (especially neobrokers in Germany) may adjust their fee structures as a result.
Should I use one broker or multiple?
Using one broker is simpler for tax reporting and portfolio tracking. But there are good reasons to use two: for example, DEGIRO or Trade Republic for European ETF savings plans, and Interactive Brokers for US stock trades and currency conversion. Just make sure you can handle the added complexity at tax time.
Is my money safe with European brokers?
EU-regulated brokers must segregate client assets from company assets. If the broker goes bankrupt, your investments are held separately and returned to you. Additionally, most EU countries have investor compensation schemes that cover up to EUR 20,000. The specific protections vary by country and regulator.
Which broker is best for ETF savings plans?
Trade Republic and Scalable Capital both offer free savings plan execution on thousands of ETFs. DEGIRO offers commission-free trading on its Core Selection ETFs. For a fully automated, set-it-and-forget-it approach, Trade Republic’s savings plans are the easiest to set up.
Investing in stocks, bonds, and ETFs involves risks including complete loss. Please do your research before making any investment.
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