Best brokers for beginners in the Czech Republic in 2021

To find the best online brokers for beginners in the Czech Republic in 2021, we went ahead and did the research for you. We conducted interviews with newbies who had no trading experience. We tested 94 brokers of which 5 made it to the top. And now, without further ado...

The best online brokers for beginners in the Czech Republic in 2021 are:

1. Revolut - the best broker for beginners in the Czech Republic in 2021. Free stock trading. Fast and easy account opening. Great mobile trading platform.
2. DEGIRO is the runner-up. One of the lowest fees on the market. Regulated by multiple top-tier authorities. Easy-to-use web and mobile platform.
3. Passfolio placed third. Free US stock and ETF trading. Great mobile platform. Fast and fully digital account opening.
4. Saxo Bank is number four. Great trading platform. Outstanding research. Broad product portfolio.
5. eToro. Just made it to the list in fifth place. Free stock and ETF trading. Seamless account opening. Social trading experience.

What makes a great broker for beginners? Two things above all: an excellent mobile trading platform and low fees (learn more about brokerage fees here). The service should fit your needs and make everything easy. It should offer great educational tools, like a demo account, and provide webinars or courses. It must be easy to open an account and deposit funds.

All that is easy to list, but hard to figure out. That's why we are testing brokers along more than 300 criteria, using real accounts and real money. So we know what's up.

Not sure which broker is best for you? For a tailored recommendation, check out our broker finder tool. You can enter your country and it will narrow down the list of brokers to those that are available where you live. Want more details? Compare brokers with our in-depth comparison tool.

And now, let's see the best online brokers for beginners in the Czech Republic in 2021 one by one. Starting with the winner, Revolut.

Revolut is a fast-growing fintech startup founded in 2015 and mainly known for its banking and payment services. In 2019, the company also launched its commission-free stock trading, which is provided by Revolut Trading Ltd. 

Revolut is regulated by multiple top-tier regulators, including the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients' assets are protected up to $500,000 ($250,000 cash) under the Securities Investment Protection Corporation's (SIPC) insurance. Revolut is also regulated by the UK Financial Conduct Authority (FCA). 

Recommended for beginners looking for free trading and a great mobile-only trading platform

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#1 Revolut
Mobile trading platform

4.9

Revolut offers a great and user-friendly mobile trading platform, with Touch/Face ID login and good search functions. On the other hand, there is no two-step login.

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#1 Revolut
Fees

4.8

Revolut provides a certain amount of free stock trades, depending on your plan. On the other hand, there is also a custody fee.

All commissions are for opening a position, holding for a week, and closing.

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#1 Revolut
Education

1.0

There are no education materials or a demo account available at Revolut.

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#1 Revolut
Customer service

1.8

Revolut has a great chatbot and a useful FAQ, but phone support offers only pre-recorded answers, while live chat is slow and its responses aren't always satisfactory.

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#1 Revolut
Account opening

5.0

Revolut has an easy, fast, and fully digital account opening, requiring no minimum account balance.

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#1 Revolut
Deposit and withdrawal

3.5

Revolut offers several deposit options, and both deposits and withdrawals are free even when using wire transfers. On the negative side, you can only use a USD-based account for trading and we experienced issues when canceled orders.

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#1 Revolut
Verdict

Revolut's fees are great. With all three types of accounts, you can trade US stocks for free (though monthly limits may apply). Account opening is easy, fully digital, and fast. You can use an awesome and user-friendly mobile trading platform.

Revolut has some drawbacks though. The product portfolio covers only US stocks and some crypto currencies. There are only a few research tools, while it offers no educational material at all. Customer service could also be improved. 

If you want to trade US stocks for free and are looking for an easy-to-use mobile platform, Revolut is a great choice.

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DEGIRO review summary

DEGIRO is a German-Dutch online discount broker. It was established in 2008 by former employees of another brokerage company in the Netherlands. DEGIRO merged with flatexDEGIRO Bank AG in early 2021, creating the biggest online execution-only broker in Europe with its own banking license.

DEGIRO is regulated by top-tier financial authorities such as the BaFin in Germany.

Disclaimer: Investing involves risk of loss.

Disclaimer for UK clients: Deemed authorised and regulated by the Financial Conduct Authority. The nature and extent of consumer protections may differ from those for firms based in the UK. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.

Our overall DEGIRO rating

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Recommended for traders and investors looking for execution only

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#2 DEGIRO
Mobile trading platform

4.5

DEGIRO's mobile app has a basic but good design and is pretty straightforward to use.

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#2 DEGIRO
Fees

4.5

DEGIRO has low trading fees for all asset classes, from stocks to options. Non-trading fees are also low, as there are no inactivity or withdrawal fees.

All commissions are for opening a position, holding for a week, and closing.

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#2 DEGIRO
Education

2.5

DEGIRO has quality educational tools about investing and how to use its platform.

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#2 DEGIRO
Customer service

3.8

Customer support is average at DEGIRO. You can reach out to them in many languages, and phone support is great. On the other hand, there is no live chat and 24/7 availability.

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#2 DEGIRO
Account opening

5.0

The account opening process at DEGIRO is fast, fully digital, and no minimum deposit is required.

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#2 DEGIRO
Deposit and withdrawal

3.3

DEGIRO deposits and withdrawals are free of charge via bank transfer. On the other hand, you cannot deposit funds using a credit or debit card.

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#2 DEGIRO
Verdict

DEGIRO is a good choice if you want a simple platform and don’t want to spend too much on fees.

Transaction costs are generally very low. DEGIRO also has one of the best trading platforms for Europeans. In addition, the account opening process is fast.

On the other hand, as DEGIRO is an execution-only broker, research tools are limited. We should also mention that there is no forex trading, and most clients can only deposit and withdraw by bank transfer.

All in all, DEGIRO is a great online broker. There is no minimum deposit and no inactivity fee, so feel free to go ahead and give it a try.

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Passfolio, a global zero-commission stockbroker, is a young and ambitious brokerage founded in 2018. It is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). In addition to the top-tier regulation, clients also enjoy investor protection under the SIPC policy of Passfolio's clearing firm for up to an additional $30 million (with a cash sub-limit of $900,000 per account), subject to an aggregate limit of $150 million.

Although Passfolio is a global broker, there is a distinct focus on Brazilian customers, as evidenced by the fact that a good portion of the content it offers is available in Portuguese. 

Passfolio is considered safe because it is regulated by top-tier authorities and offers extra protection to investors. 

Recommended for beginners and long-term investors focusing on the us stock market

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#3 Passfolio
Mobile trading platform

4.2

Passfolio's mobile platform boasts a clear-cut design and its search functions are also solid. What's missing is a wider selection of order types, as well as price alerts.

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#3 Passfolio
Fees

4.5

Passfolio has attractive fees, as trading in all assets except for cryptos is free of charge above a trade value of $5. On the other hand, most withdrawal options carry a fee.

All commissions are for opening a position, holding for a week, and closing.

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#3 Passfolio
Education

2.5

Passfolio's education services are limited and not varied. There are some high-quality educational articles and a YouTube channel with market updates in Portuguese.

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#3 Passfolio
Customer service

3.5

Passfolio clients can contact the broker via all three customary channels. The email service is very fast, the live chat is somewhat slower, while phone support is virtually nonexistent.

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#3 Passfolio
Account opening

5.0

On mobile, the account opening at Passfolio is super fast and fully digital, with validation in just 15 minutes. On the other hand, there may be some issues when validating via desktop.

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#3 Passfolio
Deposit and withdrawal

2.8

Passfolio's deposit functions are numerous and most of them come free of charge. On the other hand, withdrawal is not free and the process of depositing funds is complicated.

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#3 Passfolio
Verdict

As an up-and-coming brokerage, the main attractive feature of Passfolio is its highly competitive fee structure. You can essentially trade free of charge with an amount exceeding $5, depositing funds is free and the broker doesn't charge any account fees either. The mobile app is exceptionally user-friendly and the account opening and validation was extremely fast.

On the negative side, the range of products is rather limited and customers have access solely to US markets (NYSE/NASDAQ). Depositing funds in your Passfolio account can prove to be a cumbersome process and all withdrawals carry a price tag. Educational materials are pretty scarce, albeit some of high quality, and videos are only available in Portuguese.

Passfolio is ideal for non-US investors looking for an easy-to-use platform to trade in US securities.

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Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA). 

Saxo Bank is a global service provider and its subsidiaries are present in the form of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Bank UK.

Saxo Bank is considered safe because it has a long track record, a banking background and is regulated by top-tier financial authorities.

Recommended for investors and traders looking for a great trading platform and solid research

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#4 Saxo Bank
Mobile trading platform

5.0

Saxo Bank's user-friendly mobile platform has the same look and very similar functionalities as the web platform.

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#4 Saxo Bank
Fees

3.3

Saxo Bank has average trading and non-trading fees overall. Trading fees vary greatly between different asset classes.

All commissions are for opening a position, holding for a week, and closing.

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#4 Saxo Bank
Education

4.5

If you want to improve your financial knowledge, Saxo Bank has a lot to offer. You can use a demo account, attend webinars or watch educational videos.

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#4 Saxo Bank
Customer service

4.0

Saxo's customer service is available in many languages, with phone and email support that work well despite small issues. Downsides include the lack of live chat and 24/7 availability.

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#4 Saxo Bank
Account opening

2.5

Saxo's account opening is fully digital, user-friendly and available in most countries. On the other hand, the minimum deposit is high in certain countries and account verification can take longer.

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#4 Saxo Bank
Deposit and withdrawal

4.8

Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.

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#4 Saxo Bank
Verdict

Saxo Bank is a great broker, providing a complex and good service.

It offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.

It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit for certain countries. Lastly, there is no live chat or 24/7 customer support.

In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly adapted to the needs of clients.

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eToro review summary

eToro is a well-known Israeli fintech company and a social trading broker, established in 2007.

eToro serves UK clients through a unit regulated by the Financial Conduct Authority (FCA) and Australians through an Australian Securities and Investment Commission (ASIC) regulated entity. All other customers are served by a Cypriot unit that is regulated by the Cyprus Securities and Exchange Commission (CySEC).

eToro is not listed on any stock exchange, does not disclose its annual report on its website and does not have a bank parent.

eToro is considered safe because its UK and Australian arms are regulated by top-tier financial authorities and it is a well-known fintech company.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.

Our overall eToro rating

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Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading

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#5 eToro
Mobile trading platform

4.7

eToro's mobile platform is well-designed and intuitive. It is a pleasure to use.

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#5 eToro
Fees

4.4

eToro offers free stock and ETF trading, while forex and CFD fees are low. On the negative side, non-trading fees are high, including a $5 withdrawal fee.

All commissions are for opening a position, holding for a week, and closing.

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#5 eToro
Education

4.3

eToro's education tools are limited, offering only a demo account and some mediocre videos about investing.

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#5 eToro
Customer service

1.0

eToro customer service is average: you can reach it on several channels and get quick and relevant answers. On the flip side, you can't reach them on weekends and it's difficult to find the live chat service on the webpage and they are often offline.

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#5 eToro
Account opening

5.0

Account opening at eToro is seamless and very fast.

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#5 eToro
Deposit and withdrawal

3.5

Depositing money is free and easy, with a lot of available options, including credit cards. However, there is a withdrawal fee and only USD accounts are available.

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#5 eToro
Verdict

How eToro works? eToro offers zero-commission stock trading. The account opening is swift and seamless. It has a lot of innovative features, like social trading and copying other (successful) traders.

It has some drawbacks, though. Non-trading fees are high and eToro only allows USD accounts, which means that conversion costs on deposits and withdrawals can be high in some cases. Live chat is hard to reach and their educational materials could be better.

So is eToro good? Overall, we would recommend eToro for its social trading feature and zero-commission stock trading.

Risk disclaimer

eToro is a multi-asset platform that offers both investing in stocks and crypto assets as well as trading CFD assets.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.

Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and therefore is not supervised by any EU regulatory framework.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

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Now you know which are the best brokers for beginners. Curious how we put together this list? Let's go through two points in some more detail: whether these brokers are safe, and how we compiled the list.

Are these brokers safe?

You can be sure none of them is a scam. They are regulated by at least one top-tier authority. Some of them are also listed on an exchange, and some have a banking background.

However, brokerage companies can also go bust. Remember Lehman Brothers? In these cases, it is important to know what happens with your securities and cash. These are usually held in segregated accounts, so even in case of a broker bankruptcy, your money is safe.

If a worst-case scenario happens and, for example, the broker steals your assets, then you have a last resort: the compensation fund of the country where the broker is regulated.

How did BrokerChooser pick the best brokers for beginners?

At BrokerChooser we test online brokers along more than 300 criteria, with a real account and real money. In order not to overwhelm you, here are just the five most important criteria for brokers for beginners:

When you are a beginner the best way to start your journey is by learning.

Below, you can find some very useful learning materials to start with.

If you are considering starting your investment journey by learning, check out our education page, where you can find a lot of great materials. Learn about the pros and cons of investing your money on your own or the difference between trading and investing. You can also take a look at this article on account opening if you want to learn how you can open a trading account.

For beginner buy-and-hold investors we recommend reading our how to buy shares and how to buy ETFs articles.

For beginners who want to learn to trade, we can provide even more. A professional trader wrote about how to become a trader. Most beginner traders start with forex trading. If you don't know anything about this topic, start with our forex primer article. CFDs have also become very popular, but they are very risky. Start learning about this product type with this introduction to CFD trading and continue with the pros and cons of CFD trading.

Cryptos are a hot topic, but also super risky. We dug into it and found the safest ways to invest in Bitcoin. Highly recommended if you are considering cryptos.

When you become more experienced and start exploring futures options, you should definitely check out our article on the topic.

You saw the details, now let's zoom out. Here are once again the best brokers for beginners in the Czech Republic in 2021:

Revolut is our winner, the best broker for beginners in the Czech Republic in 2021. Free stock trading. Fast and easy account opening. Great mobile trading platform.

All the other brokers in the top five are considered great choices as well. Pick any of them and take the next step in your investment journey. Let us know what you think in the comment section.

Still unsure? Use our broker finder to find the best broker for you or learn more about investing your money.