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Best trading platform for Europeans in 2019

Dec 2018
Top 2 trading platforms for Europeans
Saxo Bank
DEGIRO
Best trading platform for Europeans in 2019

 

Choose the best trading platform, we did the research for you. We tested in-depth 20 quality online brokers available for Europeans. Evaluated fees, tested account opening, investigated deposit and withdrawal, compared online trading platforms, checked products and much more.

The best trading platforms in 2019 for Europeans:

Saxo Bank DEGIRO Interactive Brokers XTB eToro
Award Best trading platform Best discount broker Best online broker Best CFD broker Best social trading
Fees score 3 stars 5 stars 4 stars 4 stars 4 stars
Account opening score 3 stars 5 stars 3 stars 5 stars 5 stars
Deposit and withdrawal score 5 stars 3 stars 2 stars 5 stars 4 stars
Web platform score 5 stars 4 stars 4 stars 4 stars 4 stars
Markets and products score 4 stars 3 stars 5 stars 2 stars 3 stars


Not sure if available in your country? For a tailored broker recommendation, check out Brokerchooser's broker finder. Input your preferences and get a recommendation fitting your needs. To check whether an EU broker or an international trading platform is available for you, go for the same selection tool. 

European brokers can serve non-Europeans too.

Want to see more options for the best trading account? To compare all brokers, visit the broker comparison section.

 

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Best trading platform for Europeans
What makes the best trading platform?

An online broker and its trading platform can easily make or break anyone’s success in online trading. It greatly influences both your comfort and performance as a trader or investor. It is crucial to choose the online broker with the best trading  platform. 

We test online brokers along 100 criteria. A best trading platform in our definition means that the platform you use is great, and the broker is also good in other factors like fees, or markets and products. We will uncover the 5 most important criteria you should keep an eye on to find the best trading platform. 

5 important criteria for the best trading platforms in 2019
1. Fees The trading fee of a typical US equity trade can be 50 times higher at one trading platform compared to another. Worth to check the fees.
2. Account opening Some trading brokers require at least €50,000 to invest, others don't set a minimal first-time deposit. Check out what the best investment platforms require.
3. Deposit and withdrawal Time is money. The faster and cheaper you can transfer money, the higher your chances are on the trading floor.
4. Trading platform A user-friendly and well-equipped trading platform can significantly increase your trading comfort.
5. Markets and products You want to invest in Amazon and Bitcoin? They might not be available. Check the product coverage before opening an account.

The broker’s safety is an extra important factor when selecting a trading platform. You can find more on this at the end of the article. 

Best trading platform for Europeans
Comparing the broker fees

Fees, fees, and fees. We bet this is on top of your mind when you want to select the best online trading platform. Let's kick off with fees than. 

To get things rolling, let's go over some broker fee lingo. You need to keep an eye on trading fees, financing rates, and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads and financing rates.
  • Financing rates or overnight rates are charged when you hold your leveraged positions for more than a day. Leveraged position means that you borrow money from the broker to trade or you trade with leveraged products like forex or CFDs.
  • Non-trading fees are like withdrawal fee or inactivity fee.

You can compare the trading fees of the biggest markets, the annual financing rates and some non-trading costs below. Hold tight, this will be exciting.

TRADING FEES

Herer is the verdict: the Dutch discount broker, DEGIRO and eToro are the cheapest for stock trading, while Interactive Brokers has the best forex trading fees.

Best trading platforms - Trading fees of a typical trade
  Saxo Bank DEGIRO Interactive Brokers XTB eToro
Apple benchmark fee $20.0 $1.4 $2.2 $18.1 $0.0
Vodafone benchmark fee $15.0 $5.2 $17.9 $24.4 $0.0
EURUSD benchmark fee $58.4 - $23.0 $17.1 $19.1

We compared stock and forex fees since most trade with these. A typical stock trade means you make a $2,000 buy, hold it for one week and sell it. In the case of stockbrokers, like Saxo Bank and DEGIRO, we used real stocks, while for CFD brokers like XTB and eToro we used stock CFDs.  A typical forex trade means a $20,000 buy, hold it for one week and then sell it. The leverage is 30x. For the USA stock calculation we used Apple shares, for the UK Vodafone shares and for forex, the EURUSD cross.

There are huge differences between trading fees, even if you want to do a simple US stock trade. To find out more about how the fares compare between the different trading brokers, check out our ultimate comparison table.

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FINANCING RATES

DEGIRO leads the pack in stocks. In forex, Interactive Brokers gives one of the best financing rate offers.

Best trading platforms - Financing rates
  Saxo Bank DEGIRO Interactive Brokers XTB eToro
Apple financing rate 7.1% 4.3% 5.8% 6.0% 8.9%
Vodafone financing rate 5.3% 2.5% 3.9% 3.1% 8.9%
EURUSD financing rate 15.5% - 4.9% 4.1% 3.7%

We calculated the financing rates for the most traded US and UK stocks, Apple and Vodafone, and for the most traded forex pair, the EURUSD.

NON-TRADING FEES

DEGIRO is unbeatable. It is the absolute fee champion.

The inactivity fee and the withdrawal fee can hurt the most your performance. Inactivity fee is interesting for buy and hold investors, while withdrawal fee for traders withdrawing their profits every month.

Best trading platforms - Non-trading fees
  Saxo Bank DEGIRO Interactive Brokers XTB eToro
Inactivity fee Yes No Yes No Yes
Withdrawal fee $0 $0 $0 $0 $25

Now that we compared the fees, trust us, you need to look into a bit deeper than just fees when selecting a broker. Let's investigate the best brokers one by one. 

#1 Best trading platform for Europeans
Saxo Bank

4.7 5 stars

Best trading platform

Saxo Bank logo

Saxo Bank is a Danish investment bank providing online trading and investments. It is a leading European retail brokerage innovator. Saxo is privately owned, established in 1992, and headquartered in Copenhagen.

Saxo is considered safe as it is regulated worldwide by more than 10 financial regulators, including top-tier regulators, like the UK FCA.

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

Pros
  • Outstanding research
  • Great trading platform
  • Broad product portfolio
Cons
  • High forex, bond, options, and futures fees
  • Slow account opening
  • Missing live chat

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#1 Saxo Bank
Fees 3 stars

Saxo Bank has average trading and non-trading fees.
Pros
  • No withdrawal fee
  • Transparent fee structure
  • Lower fees for Platinum and VIP clients
Cons
  • Inactivity fee
  • High financing rate
  • High forex, bond, options and futures fees
Saxo Bank fees
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Apple benchmark fee $20.0 $1.4 $2.2 $18.1 $0.0
Vodafone benchmark fee $15.0 $5.2 $17.9 $24.4 $0.0
EURUSD benchmark fee $58.4 - $23.0 $17.1 $19.1
Saxo Bank fees for stock trading
Saxo Bank DEGIRO Interactive Brokers XTB eToro
USA $0.01/share; min $9.90, but using VIP pricing the minimum can be as low as $3 $0.004 per share + €0.5 $0.005 per share, min $1, max 0.5% of trade value 0.08% of trade value; minimum $8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
Germany 0.1% of trade value; min €10, but using VIP pricing it can be as low as 0.05% of trade value with €6 minimum 0.058% + €4, max €60 0.1%, min €4, max €99 0.08% of trade value; minimum €8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
UK 0.1% of trade value; min £4.99, but using VIP pricing the commission can be as low as 0.05% of trade value 0.022% + £4, max £5 £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value 0.08% of trade value; minimum £8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
Saxo Bank non-trading fees
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Account fee No No No No No
Inactivity fee Yes No Yes No Yes
Withdrawal fee $0 $0 $0 $0 $25

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#1 Saxo Bank
Account opening 3 stars

Account opening is available for residents of almost every country and is fully digital.
Pros
  • Fast account opening
  • Fully digital account opening
  • Available for residents of almost every country
Cons
  • Minimum deposit is higher than $500
  • Sales team pushy
  • Classic accounts available only in a single currency
Saxo Bank minimum deposit and time to open an account
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Minimum deposit $725 $0 $0 $250 $200
Time to open account 1-3 days 1 day 1-3 days 1 day 1 day

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#1 Saxo Bank
Deposit and withdrawal 5 stars

Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
Pros
  • Free withdrawal
  • No deposit fee
  • Several account base currencies
Cons
  • Credit/Debit card withdrawal not available
Saxo Bank withdrawal fee and options
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No No Yes
Electronic wallets No No No No Yes
Withdrawal fee $0 $0 $0 $0 $25

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#1 Saxo Bank
Web trading platform 5 stars

Saxo Bank's web trading platform is easy-to-use and well-designed. However, it doesn't provide a two-step login and the customizability is limited.
Pros
  • User-friendly
  • Good search function
  • Looks appealing
Cons
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
Best trading platform for Europeans - Saxo Bank trading platform
Saxo Bank trading platforms
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Web platform score 5 stars 4 stars 4 stars 4 stars 4 stars
Mobile platform score 5 stars 4 stars 4 stars 4 stars 5 stars
Desktop platform score 5 stars - 3 stars 4 stars -

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#1 Saxo Bank
Markets and products 4 stars

At Saxo Bank you can reach many markets and trade with a lot of different products, except for funds.
Saxo Bank markets and products
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Stock Yes Yes Yes Yes Yes
ETF Yes Yes Yes Yes Yes
Forex Yes No Yes Yes Yes
Fund No Yes Yes No No
Bond Yes Yes Yes No No
Options Yes Yes Yes No No
Futures Yes Yes Yes No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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#1 Saxo Bank
Verdict

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

It has the best trading platforms backed by great research. The product portfolio is covering all important international markets and asset classes.

It has some drawbacks though. The fees for forex, bond, options, and futures are high. The account opening can take long and the live chat is missing.

In general, Saxo Bank is one of the best online brokerage companies you can choose. By opening an account, you end up with a broad, well-developed service.

Saxo Bank
Summary Saxo Bank is a Danish investment bank. It is regulated by more than 10 financial authorities, including the top-tier FCA.
Fees score 3 stars
Recommended for Investors and traders looking for a great trading platform and solid research

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#2 Best trading platform for Europeans
DEGIRO

4.7 5 stars

Best discount broker

DEGIRO logo

DEGIRO is a trending Dutch online discount broker. It is privately owned and was established in 2013 by former employees of another brokerage company.

DEGIRO is considered safe as it is regulated by top-tier financial regulators, the Dutch AFM and DNB. It is registered with the Chamber of Commerce and Industry in Amsterdam under number 34342820.

Recommended for price-sensitive buy and hold investors and traders looking for only execution

Pros
  • One of the lowest fees in the market
  • Broad access to international markets
  • Easy to use web and mobile platform
Cons
  • Limited research and education
  • No forex trading
  • No credit/debit card deposit and withdrawal

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#2 DEGIRO
Fees 5 stars

DEGIRO has low trading and non-trading fees. In most asset classes, it is the best in the market. There are some ETFs which you can trade free once per month. It's a great offer for buy-and-hold investors.
Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
  • At some ETFs, one free trade per month
Cons
  • Yearly service fee for mutual funds
  • Higher trading fees for Asian and smaller European stock exchanges
DEGIRO fees
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Apple benchmark fee $20.0 $1.4 $2.2 $18.1 $0.0
Vodafone benchmark fee $15.0 $5.2 $17.9 $24.4 $0.0
EURUSD benchmark fee $58.4 - $23.0 $17.1 $19.1
DEGIRO fees for stock trading
Saxo Bank DEGIRO Interactive Brokers XTB eToro
USA $0.01/share; min $9.90, but using VIP pricing the minimum can be as low as $3 $0.004 per share + €0.5 $0.005 per share, min $1, max 0.5% of trade value 0.08% of trade value; minimum $8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
Germany 0.1% of trade value; min €10, but using VIP pricing it can be as low as 0.05% of trade value with €6 minimum 0.058% + €4, max €60 0.1%, min €4, max €99 0.08% of trade value; minimum €8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
UK 0.1% of trade value; min £4.99, but using VIP pricing the commission can be as low as 0.05% of trade value 0.022% + £4, max £5 £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value 0.08% of trade value; minimum £8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
DEGIRO non-trading fees
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Account fee No No No No No
Inactivity fee Yes No Yes No Yes
Withdrawal fee $0 $0 $0 $0 $25

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#2 DEGIRO
Account opening 5 stars

DEGIRO has an easy and fast account opening process. Also, there is no minimum deposit.
Pros
  • Fully digital account opening
  • No minimum deposit
  • User-friendly
Cons
None
DEGIRO minimum deposit and time to open an account
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Minimum deposit $725 $0 $0 $250 $200
Time to open account 1-3 days 1 day 1-3 days 1 day 1 day

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#2 DEGIRO
Deposit and withdrawal 3 stars

DEGIRO deposit and withdrawal is free of charge via bank transfer. On the other hand, you cannot deposit with credit or debit card.
Pros
  • Free withdrawal
  • No deposit fee
  • Several account base currencies
Cons
  • Credit/Debit card not available
DEGIRO withdrawal fee and options
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No No Yes
Electronic wallets No No No No Yes
Withdrawal fee $0 $0 $0 $0 $25

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#2 DEGIRO
Web trading platform 4 stars

DEGIRO’s web platform is simple and easy to use. Even beginners can easily navigate it and buy stocks. On the negative side, it is a bit complicated to customize.
Pros
  • User-friendly
  • Two-step (safer) login
  • Looks appealing
Cons
  • Limited customizability (for charts, workspace)
  • No price alerts
Best trading platform for Europeans - DEGIRO trading platform
DEGIRO trading platforms
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Web platform score 5 stars 4 stars 4 stars 4 stars 4 stars
Mobile platform score 5 stars 4 stars 4 stars 4 stars 5 stars
Desktop platform score 5 stars - 3 stars 4 stars -

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#2 DEGIRO
Markets and products 3 stars

At DEGIRO you can access many markets and trade with a lot of different products, except for forex.
DEGIRO markets and products
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Stock Yes Yes Yes Yes Yes
ETF Yes Yes Yes Yes Yes
Forex Yes No Yes Yes Yes
Fund No Yes Yes No No
Bond Yes Yes Yes No No
Options Yes Yes Yes No No
Futures Yes Yes Yes No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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#2 DEGIRO
Verdict

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

It is far cheaper than its big European competitors and only Interactive Brokers can compete with DEGIRO fees. DEGIRO also has great access to international markets and trading products. And it is als one of the best trading platforms for Europeans.

However, cheapness comes with some shortfalls. Education and research tools are limited, there is no forex trading and limited deposit and withdrawal options.

All in all, it is a great online broker. As there is no minimum deposit and no inactivity fee, feel free to try it out.

DEGIRO
Summary DEGIRO is a Dutch discount broker established in 2008. It is regulated by the Dutch FMA.
Fees score 5 stars
Recommended for Price-sensitive buy and hold investors and traders looking for only execution

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#3 Best trading platform for Europeans
Interactive Brokers

4.8 5 stars

Best online broker

Interactive Brokers logo

Interactive Brokers was founded in 1978 and it is one of the biggest US-based discount brokers. It is regulated by several regulators globally, including top-tier authorities like FCA and SEC. Interactive Brokers Group is listed on the New York Stock Exchange.

Interactive Brokers is considered safe because it has a long track record, is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.

Recommended for traders who prefer low fees and a professional trading environment

Pros
  • Broad product portfolio
  • Low fees
  • Great and diverse research tools
Cons
  • Funding and withdrawal only through bank transfer
  • Complicated account opening process
  • Not user-friendly and complicated desktop trading platform

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#3 Interactive Brokers
Fees 4 stars

Interactive Brokers has low trading fees and high non-trading fees. The fees are transparent.
Pros
  • Low trading fees
  • Transparent fee structure
Cons
  • Inactivity fee
Interactive Brokers fees
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Apple benchmark fee $20.0 $1.4 $2.2 $18.1 $0.0
Vodafone benchmark fee $15.0 $5.2 $17.9 $24.4 $0.0
EURUSD benchmark fee $58.4 - $23.0 $17.1 $19.1
Interactive Brokers fees for stock trading
Saxo Bank DEGIRO Interactive Brokers XTB eToro
USA $0.01/share; min $9.90, but using VIP pricing the minimum can be as low as $3 $0.004 per share + €0.5 $0.005 per share, min $1, max 0.5% of trade value 0.08% of trade value; minimum $8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
Germany 0.1% of trade value; min €10, but using VIP pricing it can be as low as 0.05% of trade value with €6 minimum 0.058% + €4, max €60 0.1%, min €4, max €99 0.08% of trade value; minimum €8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
UK 0.1% of trade value; min £4.99, but using VIP pricing the commission can be as low as 0.05% of trade value 0.022% + £4, max £5 £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value 0.08% of trade value; minimum £8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
Interactive Brokers non-trading fees
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Account fee No No No No No
Inactivity fee Yes No Yes No Yes
Withdrawal fee $0 $0 $0 $0 $25

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#3 Interactive Brokers
Account opening 3 stars

The account opening process is fully digital, but slow and complicated.
Pros
  • Fully digital account opening
  • No minimum deposit for most accounts
Cons
  • Slow account opening
  • Not user-friendly
  • Confusing messages throughout the process
Interactive Brokers minimum deposit and time to open an account
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Minimum deposit $725 $0 $0 $250 $200
Time to open account 1-3 days 1 day 1-3 days 1 day 1 day

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#3 Interactive Brokers
Deposit and withdrawal 2 stars

Interactive Brokers offers a lot of base currencies and one withdrawal per month is free. On the negative side, only bank transfer is available.
Pros
  • Several account base currencies
  • No charge for the first withdrawal each month
Cons
  • Credit/Debit card not available
  • Slow funding and withdrawal - over 3 days
Interactive Brokers withdrawal fee and options
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No No Yes
Electronic wallets No No No No Yes
Withdrawal fee $0 $0 $0 $0 $25

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#3 Interactive Brokers
Web trading platform 4 stars

The Interactive Brokers web platform is simple and easy to use, even for beginners. On the negative side, it is a bit complicated to customize.
Pros
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
Cons
  • Limited customizability (for charts, workspace)
Best trading platform for Europeans - Interactive Brokers trading platform
Interactive Brokers trading platforms
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Web platform score 5 stars 4 stars 4 stars 4 stars 4 stars
Mobile platform score 5 stars 4 stars 4 stars 4 stars 5 stars
Desktop platform score 5 stars - 3 stars 4 stars -

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#3 Interactive Brokers
Markets and products 5 stars

Interactive Brokers allows you access to a very wide range of markets and you can trade with all product types. IB's product range is the widest available.
Interactive Brokers markets and products
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Stock Yes Yes Yes Yes Yes
ETF Yes Yes Yes Yes Yes
Forex Yes No Yes Yes Yes
Fund No Yes Yes No No
Bond Yes Yes Yes No No
Options Yes Yes Yes No No
Futures Yes Yes Yes No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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#3 Interactive Brokers
Verdict

IB is one of the biggest discount US brokers regulated by top-tier regulators. If you like low-cost trading and easily navigate on a really complicated platform, Interactive Brokers is for you. We mainly recommend IB for traders.

It has low trading fees, a wide range of product portfolio, and diverse research tools. 

On the flip side, only bank transfer is available for deposit and withdrawal. The account opening and the desktop platform are not user-friendly and complicated.

Interactive Brokers is definitely recommended if you want low fees, a lot of products and you are experienced to cope with a complicated platform.

Interactive Brokers
Summary Interactive Brokers is a US discount broker. IB is listed on stock exchange and regulated by several authorities, like the top-tier FCA and SEC.
Fees score 4 stars
Recommended for Traders who prefer low fees and a professional trading environment

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#4 Best trading platform for Europeans
XTB

4.5 5 stars

Best CFD broker

XTB logo

XTB is primarily a forex and CFD broker, while in some countries you can also trade with stocks. XTB is a global broker with more than ten offices worldwide. In Europe, it serves clients via the UK or a Polish entity. We tested the UK entity but will provide info on all entities.

XTB is listed on the Warsaw Stock Exchange. A listed company is more transparent, as it discloses its financials regularly. XTB is authorized and regulated by different regulators, including the UK FCA.

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.

Recommended for forex and cfd traders looking for great funding and withdrawal processes and research tools

Pros
  • Fast deposit and withdrawal
  • Fast and user-friendly account opening
  • Good research tools
Cons
  • Limited product portfolio, mostly CFD and FX
  • Sales team can be pushy
  • No 24/7 customer support

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76% of retail CFD accounts lose money

#4 XTB
Fees 4 stars

XTB has average trading fees and low non-trading fees.
Pros
  • Low non-trading fees
  • No withdrawal fee
  • No inactivity fee
Cons
None
XTB fees
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Apple benchmark fee $20.0 $1.4 $2.2 $18.1 $0.0
Vodafone benchmark fee $15.0 $5.2 $17.9 $24.4 $0.0
EURUSD benchmark fee $58.4 - $23.0 $17.1 $19.1
XTB fees for stock trading
Saxo Bank DEGIRO Interactive Brokers XTB eToro
USA $0.01/share; min $9.90, but using VIP pricing the minimum can be as low as $3 $0.004 per share + €0.5 $0.005 per share, min $1, max 0.5% of trade value 0.08% of trade value; minimum $8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
Germany 0.1% of trade value; min €10, but using VIP pricing it can be as low as 0.05% of trade value with €6 minimum 0.058% + €4, max €60 0.1%, min €4, max €99 0.08% of trade value; minimum €8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
UK 0.1% of trade value; min £4.99, but using VIP pricing the commission can be as low as 0.05% of trade value 0.022% + £4, max £5 £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value 0.08% of trade value; minimum £8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
XTB non-trading fees
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Account fee No No No No No
Inactivity fee Yes No Yes No Yes
Withdrawal fee $0 $0 $0 $0 $25

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76% of retail CFD accounts lose money

#4 XTB
Account opening 5 stars

XTB account opening is hassle-free and straightforward. Your account is ready for trading on the same day. However, the sales team is very pushy.
Pros
  • Fast account opening
  • Fully digital account opening
  • User-friendly
Cons
  • Sales team pushy
XTB minimum deposit and time to open an account
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Minimum deposit $725 $0 $0 $250 $200
Time to open account 1-3 days 1 day 1-3 days 1 day 1 day

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76% of retail CFD accounts lose money

#4 XTB
Deposit and withdrawal 5 stars

XTB's deposit and withdrawal are cost-friendly, fast, and can be done in several forms. Fees for electronic wallet deposits are quite high.
Pros
  • Credit/Debit card available
  • Quick funding and withdrawal -within 3 days
  • User-friendly
Cons
  • High fees for electronic wallet deposits
XTB withdrawal fee and options
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No No Yes
Electronic wallets No No No No Yes
Withdrawal fee $0 $0 $0 $0 $25

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76% of retail CFD accounts lose money

#4 XTB
Web trading platform 4 stars

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, we missed the two-step login, the leverage setting option and the more sophisticated order types.
Pros
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
Cons
  • No two-step (safer) login
  • Limited order types
Best trading platform for Europeans - XTB trading platform
XTB trading platforms
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Web platform score 5 stars 4 stars 4 stars 4 stars 4 stars
Mobile platform score 5 stars 4 stars 4 stars 4 stars 5 stars
Desktop platform score 5 stars - 3 stars 4 stars -

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76% of retail CFD accounts lose money

#4 XTB
Markets and products 2 stars

UK residents, Hungarians and non-Europeans can trade only with CFDs and forex. All other Europeans can also trade with stocks and ETFs.
XTB markets and products
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Stock Yes Yes Yes Yes Yes
ETF Yes Yes Yes Yes Yes
Forex Yes No Yes Yes Yes
Fund No Yes Yes No No
Bond Yes Yes Yes No No
Options Yes Yes Yes No No
Futures Yes Yes Yes No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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76% of retail CFD accounts lose money

#4 XTB
Verdict

XTB is a good broker. It is regulated by more than 10 authorities globally, including the UK FCA, and it is listed on the Warsaw Stock Exchange. 

On the plus side, the deposit and withdrawal process is fast. We liked the seamless and hassle-free account opening. The research tools are easy-to-use.

XTB has some drawbacks though. Its product range is mainly limited to FX and CFDs, but there are stocks trading is also available in some countries. When opening the account the sales team can be pushy. We also missed the 24/7 customer support.

We recommend XTB for clients who prefer forex and CFD trading and are looking for fast account opening, cheap money withdrawal and great research tools. Feel free to test it via the demo account.

XTB
Summary XTB is a global CFD broker, listed on the Warsaw Stock Exchange, regulated by regulators, like FCA and KNF, the polish regulator.
Fees score 4 stars
Recommended for Forex and CFD traders looking for great funding and withdrawal processes and research tools

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76% of retail CFD accounts lose money

#5 Best trading platform for Europeans
eToro

4.5 5 stars

Best social trading

eToro logo

eToro is a well-known fintech startup, an Israeli social trading broker established in 2007. eToro serves UK clients by an FCA regulated entity and Australians by an Australian entity. All other customers are served by a Cypriot entity. eToro is not listed on any exchange, does not disclose its annual report on its site and does not have a bank parent. It is also one of the 5 best trading platforms for Europeans.

eToro is considered safe because it's UK arm is regulated by a top tier regulator and it is a well-known fintech startup.

eToro is a multi-asset platform which offers primarily CFDs, but you can also invest in stocks and crypto assets. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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.

Recommended for traders and those interested in social trading (copying other traders’ trades)

Pros
  • Free stock and ETF trading in the EU
  • Seamless account opening
  • Social trading experience
Cons
  • Poor customer service
  • Trading platform outages
  • Limited educational tools

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66% of retail CFD accounts lose money

#5 eToro
Fees 4 stars

eToro offers free stock trading in Europe and has low fees for non-EU clients. On the negative side, the non-trading fees and financing rates are high.
Pros
  • Free stock and ETF trading in the EU
  • Low fees for non-EU clients
  • Transparent fee structure
Cons
  • High financing rate
  • $25 withdrawal fee
  • $10 monthly inactivity fee
eToro fees
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Apple benchmark fee $20.0 $1.4 $2.2 $18.1 $0.0
Vodafone benchmark fee $15.0 $5.2 $17.9 $24.4 $0.0
EURUSD benchmark fee $58.4 - $23.0 $17.1 $19.1
eToro fees for stock trading
Saxo Bank DEGIRO Interactive Brokers XTB eToro
USA $0.01/share; min $9.90, but using VIP pricing the minimum can be as low as $3 $0.004 per share + €0.5 $0.005 per share, min $1, max 0.5% of trade value 0.08% of trade value; minimum $8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
Germany 0.1% of trade value; min €10, but using VIP pricing it can be as low as 0.05% of trade value with €6 minimum 0.058% + €4, max €60 0.1%, min €4, max €99 0.08% of trade value; minimum €8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
UK 0.1% of trade value; min £4.99, but using VIP pricing the commission can be as low as 0.05% of trade value 0.022% + £4, max £5 £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value 0.08% of trade value; minimum £8 Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients
eToro non-trading fees
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Account fee No No No No No
Inactivity fee Yes No Yes No Yes
Withdrawal fee $0 $0 $0 $0 $25

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66% of retail CFD accounts lose money

#5 eToro
Account opening 5 stars

Account opening is enjoyable and super fast.
Pros
  • Fast account opening
  • No minimum deposit
  • User-friendly
Cons
None
eToro minimum deposit and time to open an account
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Minimum deposit $725 $0 $0 $250 $200
Time to open account 1-3 days 1 day 1-3 days 1 day 1 day

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66% of retail CFD accounts lose money

#5 eToro
Deposit and withdrawal 4 stars

It is easy to deposit with a lot of options, including credit cards. However, there is a withdrawal fee, and only USD accounts are available.
Pros
  • Credit/Debit card available
  • No deposit fee
  • User-friendly
Cons
  • High withdrawal fee
  • Only one account base currency
eToro withdrawal fee and options
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No No Yes
Electronic wallets No No No No Yes
Withdrawal fee $0 $0 $0 $0 $25

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66% of retail CFD accounts lose money

#5 eToro
Web trading platform 4 stars

eToro’s web trading platform is nice looking and easy-to-use. Getting your fee report is a bit of a pain.
Pros
  • User-friendly
  • Looks appealing
  • Social trading
Cons
  • No clear fee report available
  • Cannot be customized
Best trading platform for Europeans - eToro trading platform
eToro trading platforms
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Web platform score 5 stars 4 stars 4 stars 4 stars 4 stars
Mobile platform score 5 stars 4 stars 4 stars 4 stars 5 stars
Desktop platform score 5 stars - 3 stars 4 stars -

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66% of retail CFD accounts lose money

#5 eToro
Markets and products 3 stars

At eToro you can trade with CFDs and forex. There are also real stocks, ETFs, and many cryptos. It also offers innovative services, like social trading or CopyPortfolio.
eToro markets and products
Saxo Bank DEGIRO Interactive Brokers XTB eToro
Stock Yes Yes Yes Yes Yes
ETF Yes Yes Yes Yes Yes
Forex Yes No Yes Yes Yes
Fund No Yes Yes No No
Bond Yes Yes Yes No No
Options Yes Yes Yes No No
Futures Yes Yes Yes No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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66% of retail CFD accounts lose money

#5 eToro
Verdict

When looking back, eToro was a bit unreliable in 2017 because of the huge demand for cryptos. It had problems in customer support and the platform sometimes froze. In our latest test eToro improved.

On the plus side, eToro has zero-commission stock trading in Europe. The account opening is really fast and seamless. It has also a lot of innovative features, like social trading.

It has some drawbacks though. Customer service was a letdown, the platform did not work on multiple occasions. Also, it has a tight product range which includes stocks and CFDs. Non-trading fees are high.

To sum up, we recommend eToro for social trading and cheap stock trading.

Risk disclaimer

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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 which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

Past performance is not an indication of future results.

eToro
Summary eToro is a global social trading broker. It is regulated by top-tier regulators, like the UK FCA.
Fees score 4 stars
Recommended for Traders and those interested in social trading (copying other traders’ trades)

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66% of retail CFD accounts lose money

Best trading platform for Europeans
Keep in mind - Safety

We recommend only quality brokers, so you can be sure none of the listed online brokers are scams. They are regulated by top-tier regulators. Some of them are also listed on an exchange, and some have a banking background.

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

If everything goes very bad and for example, the broker steals your assets, then you have a last resort, the investor protection of the country where the broker is regulated.

The investor protection amount differs from country to country, so worth checking this before opening an account.

  Saxo Bank DEGIRO Interactive Brokers XTB eToro
Investor protection amount €100,000 for cash deposits and €20,000 for securities for most European countries €20,000 £50,000 or $500,000 ($250,000 cash) in Europe depending on the assets you hold; $500,000 ($250,000) in the US £50,000 for UK clients; €20,100 for other European clients £50,000 for UK residents, €20,000 for residents of non-UK countries
Country of regulation Denmark, UK, France, Switzerland, Singapore, UAE, Japan, South Africa, Australia Netherlands, UK UK, USA, India, Australia, Canada, Japan, Hong Kong UK, Poland, Cyprus, Belize UK, Cyprus, Australia
Listed on stock exchange No No Yes Yes No
Banking background Yes No No No No

In the US, futures accounts are not covered by compensation.

Best trading platform for Europeans
Bottom line

Broker Info Recommended for
Saxo Bank Danish investment bank Investors and traders looking for a great trading platform and solid research
DEGIRO Dutch discount broker Price-sensitive buy and hold investors and traders looking for only execution
Interactive Brokers US discount broker Traders who prefer low fees and a professional trading environment
XTB Global CFD and FX broker Forex and CFD traders looking for great funding and withdrawal processes and research tools
eToro Global social trading broker Traders and those interested in social trading (copying other traders’ trades)

AUTHOR

Gergely Korpos
Gergely Korpos
Co-founder, CPO
Gergely's aim is to bring more clarity into personal investing. He has 10 years of experience in financial markets with GE Money, KPMG and MOL. He concluded thousands of trades as a commodity trader and financial portfolio manager
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