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Interactive Brokers

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Saxo Bank

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Internaxx

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Swissquote

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DEGIRO

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eToro

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IG

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Tastyworks

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Oanda

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Comdirect

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BGL BNP Paribas

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Recommended for
Price is crucial and can trade in a professional trading environmentWants to invest in international markets and needs some professional guidanceIf you want stocks and funds on a beautiful, minimalistic platformInvestors interested in a balanced portfolio from investment productsPrice sensitive equity and option traders focusing on Europe and USBeginners and those interested in social trading (e.g. following other traders’ trades)Investors and traders who want to take leverage via thousands of CFDs.Price sensitive equity and option traders focusing on the USPrice sensitive forex and CFD tradersGerman speaking investors and CFD traders focusing mainly on European securitiesRequires account with large banking group and personal advisory services
Basic data of broker
Country of brokerUSADenmarkLuxembourgSwitzerlandNetherlandsIsraelUKUSAUSGermanyLuxembourg
Banking background
Listed on stock exchange
SummaryInteractive Brokers is a US market leader discount broker also serving non-US customers. IB is listed on NASDAQ and supervised by SECSaxo Bank is a Danish investment bank focusing on European retail online brokerage. Saxo is a white label trading platform provider for several European banks, providing its own platform under the bank's designInternaxx is a Luxembourg-based brokerage company with a banking licence. Its trading platform is simple and easy-to-use, offers mainly basic productsSwissquote is the leading Swiss online broker with its own banking background. The company is listed on the Swiss exchange and is supervised by the Swiss authorityDEGIRO is a rising Dutch discount broker established in 2008. Its trading platform is simple and easy-to-use and offers a wide range of products.eToro is an Israeli based social trading brokerage firm established in 2006. It is regulated by the FCA and CySEC. Its trading platform is enjoyable and easy-to-use and allows social trading.IG is one the biggest CFD provider in the world. The company is listed on the London Stock Exchange and regulated by the FCA.Tastyworks is a young, upcoming US discount options and stockbroker established in 2017 and backed by well-known experts. Oanda is a US based online broker specialized in forex and index/commodity CFDs. In Europe it is regulated by the FCA.Majority owned by Commerzbank, Comdirect offers online banking and brokerage services with comprehensive offering, esp. for European securities. Its web and platform is in German only, but account can be opened also by other EU nationals. BGL BNP in Luxembourg is administering an investment offering for international BNP Paribas group clients. It offers limited online platform complementing investment advisory.
Customer care
Research quality
Customer service quality
Possible to meet personallyNoPrague, Amsterdam, Geneva, London, monthly customer meeting in Budapest and BratislavaLuxembourgZürich is the closest officeAmsterdam, SofiaLondon, LimassolLondon, Dublin, Madrid, Paris, Stockholm, Milan, Geneva, Düsseldorf, LuxembourgNALondonNoLuxemburg
Trading platform
Web
Mobile
Tradable products
Major stock markets (USA, Germany, UK)
Japanese Stocks
Hong Kong Stocks
Funds
ETF
Forex
Bonds
Options
Futures
CFD
Fees
Fee summaryOutstandingly competitive fees, especially in the USAModerately competitive feesModerately competitive feesModerately competitive fees, but high minimum feesVery competitive fees for European and US marketsRelatively high spread and rollover fees for CFDs, no trading feesModerately competitive CFD feesOutstandingly competitive US options trading fees, competitive US stock trading feesCompetitve forex spreadsModerately competitive feesVery high trading and custody fees
Fee description
Starter calculated yearly fee161 USD- 423 USD506 USD263 USDUS stocks and funds not available USD- - - 439 USD4 068 USD
Investor calculated yearly fee310 USD752 USD1 892 USD3 312 USD239 USDUS stocks, German stocks ans US ETF not available USD- - - 2 358 USD3 408 USD
Trader calculated yearly fee629 USD2 932 USD- - Forex not available USDUS stocks and forex not available USD- - - - -
Stock and ETF fee
USA1 USD15 USD19 USD25 USD1 USD- - 3 USD- 15 USD46 USD
Germany5 USD14 USD36 USD29 USD5 USD- - - - 11 USD46 USD
UK 9 USD12 USD19 USD36 USD5 USD- - - - 15 USD46 USD
Japan2 USD14 USD- 77 USD12 USD- - - - - 46 USD
Hong Kong2 USD20 USD59 USD208 USD12 USD- - - - - 46 USD
Forex costs
All inclusive cost
Major FX pair (EURUSD)4,5 USD3,5 USD- 7,0 USD- - - - 2,1 USD- -
Minor FX pair (NZDUSD)5,4 USD11,1 USD- 13,9 USD- - - - 4,4 USD- -
Usual spread, pips
EURUSD
0,3 2 4 - 1,2
NZDUSD
0,5 4 5 - 1,6
Fund fee
Option prices
Futures fee
CFD fee
Bond fees
Other, non trading fees
Account feeNoNoFree if you have made at least 12 trades in the previous quarterNoNoNoNoNoNoNo200 EUR + 0.6% custody fee
Inactivity feeYou need to generate at least 10 USD/month comission, otherwise inactivity fee = 10 USD - comission generated100 USD/6 months after 6 no-trade monthsEUR 25/quarter between 1 and 11 trades; EUR 45/quarter for 0 tradeNoNo5 USD - after 12 months of inactivity for depositing accounts and after 4 months for non-depositing accounts12 GBP per month after 2 years of inactivityNo10 EUR per month after 2 years of inactivity5.85 EUR/quarter if less than 2 tradesNo
Financing rateBenchmark + 1.5% Market ask rates plus 8 %, min. 8 % 6.99% Depends on currrency (e.g. EUR 3%) Depends on currrency (e.g. EUR: EONIA + 1.25%) Depends on the traded product, e.g. 9,1% for long Apple Benchmark + 2.5% Depends on debt balance (ranging 8% for up to $25k and 5% from $1mn) Depends on currrency (e.g. EUR 0,4%) 3% + currency interest Euribor 3 month + 2 %
Withdrawal fee6000 HUF, but one free withdrawal per monthNo0 (below 50 000 EUR) for EU currencies2 CHF/2 EUR/10 USD dependent on currencyNo5-25 USD; from 20/08/2017 fixed withdrawal fee of USD 25No$25 for US withdrawal and $45 for non-US withdrawal- Bank transfer/wire: 20-35 EUR / Debit card: 0-20 EURNo0.75 EUR for SEPA accounts (free within BGL BNP)
Account opening
Minimum required balance10 000 USD 2 000 USD No No No From 50 to 1000 USD depending on your residence No No No No 50 000 EUR
Needed documentsPersonal ID or passport can be digitally identifiedPersonal ID or passport can be digitally identifiedNotarized copy of passport needs to be postedNotarized copies of passport and permanent address need to be postedCopy of personal ID or passport needs to be uploadedCopy of passport or personal ID and utility bill needs to be uploadedCopy of passport needs to be uploadedCopy of passport or personal ID and proof of address need to be uploadedCopy of passport and bank statement/utility bill/tax letter need to be uploadedPersonal ID or passport needs to be uploadedTwo valid proof of indentities and one proof residence need to be uploaded
Account protection schemeIt depends on the country of your account openingDanish Guarantee Fund for Depositors and InvestorsLuxembourg account protectionSwiss account protection: EsisuisseDutch account protection: The Netherlands AFM, Dutch Central BankCypriot account protection: Cyprus Securities & Exchange Commission and UK account protection for UK citizensUK account protection: Financial Services Compensation SchemeUS investor protection schemeUK account protection: Financial Services Compensation SchemeGerman protection schemeLuxembourg account protection
Time to open account5-6 days with identification and account transfer 3-4 days with identification and account transfer 10-15 days with identification and account transfer 10-15 days with identification and account transfer 2-3 days with identification and money transfer 1 day 1-4 days with identification and account transfer 2 days 1-2 days with identification and account transfer 3-4 days (need to receive access PIN by post) 2 weeks