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BGL BNP Paribas Alternatives

May 2019
Our top picks for DEGIRO alternatives
Interactive Brokers
Saxo Bank

The best alternatives to BGL BNP Paribas are

  1. Saxo Bank - Danish investment bank
  2. Internaxx - Luxembourgish online broker
  3. DEGIRO - Dutch discount broker

Let's see in a bit more detail how the BGL BNP Paribas alternatives compare to BGL BNP Paribas and each other:

BGL BNP Paribas alternatives comparison
BGL BNP Paribas Saxo Bank Internaxx DEGIRO
Overall score 2.8 4.7 3.6 4.7
Fees score 1 stars 3 stars 1 stars 5 stars
Account opening score 0 stars 3 stars 1 stars 5 stars
Deposit and withdrawal score 1 stars 5 stars 3 stars 3 stars
Web platform score 2 stars 5 stars 3 stars 4 stars
Markets and products score 2 stars 4 stars 2 stars 3 stars
Visit broker Visit broker Visit broker Visit broker

Why are these brokers considered good alternatives to BGL BNP Paribas? There are many areas based on which BGL BNP Paribas can be compared with others. When we say a given online broker is a good alternative to BGL BNP Paribas we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

BGL BNP Paribas alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • BGL BNP Paribas is recommended for investors aiming for an account with large banking group and personal advisory services
  • Saxo Bank is recommended for investors and traders looking for a great trading platform and solid research
  • Internaxx is recommended for buy and hold investors with bigger amounts to invest
  • DEGIRO is recommended for price-sensitive buy and hold investors and traders looking for only execution

Important factors of finding BGL BNP Paribas alternatives

So far Brokerchooser has reviewed 41 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether BGL BNP Paribas or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. BGL BNP Paribas is considered to be a rather expensive broker. This gives you a good chance to cut your costs by choosing a cheaper BGL BNP Paribas alternative.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At BGL BNP Paribas, the account opening is slower than average, so if you consider this important some BGL BNP Paribas alternatives can be a good choice.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at BGL BNP Paribas, some alternatives might allow you to do that.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given BGL BNP Paribas alternative is a must.


Now let's dive into the details of how BGL BNP Paribas and its alternatives perform in the most important areas!

BGL BNP Paribas alternatives
BGL BNP Paribas

2.8 3 stars

BGL BNP Paribas logo

BGL BNP Paribas is a Luxembourgish investment bank providing online trading and investments. BNP is privately owned, established in 1919, and headquartered in Luxembourg city.

BGL BNP Paribas is considered safe because it is regulated by the top-tier Luxembourg regulator, it has a banking license, and the investor protection amount is high.

Recommended for investors aiming for an account with large banking group and personal advisory services

Pros
  • Good stock market coverage
  • High investor protection
Cons
  • High fees
  • Complicated account opening
  • Limited research tools

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Fees 1 stars

BGL BNP Paribas has high trading and non-trading fees. As a plus, it has a transparent fee structure.
Pros
  • Transparent fee structure
Cons
  • High trading fees
  • High non-trading fees
  • Withdrawal fee
  • Inactivity fee
BGL BNP Paribas alternatives trading fees
BGL BNP Paribas Saxo Bank Internaxx DEGIRO
Apple benchmark fee $168.9 $20.0 $38.3 $1.4
Vodafone benchmark fee $169.2 $15.0 $38.6 $5.2
EURUSD benchmark fee - $58.4 $57.9 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 0 stars

BGL BNP Paribas account opening needs improvement. On the bright side, you can choose from accounts giving you access to banking products as well. However, opening an account is not a piece of cake. It takes very long, even it can be two weeks. It is not user-friendly and not fully digital.
Pros
  • Multicurrency account with access to banking products (card, insurance, term deposits)
Cons
  • Slow account opening
  • Not fully digital
  • Minimum account balance is higher than $500
BGL BNP Paribas alternatives minimum deposit and account open times
BGL BNP Paribas Saxo Bank Internaxx DEGIRO
Minimum deposit $57,000 $725 $0 $0
Time to open account >3 days 1-3 days >3 days 1 day

Learn more about BGL BNP Paribas minimum deposit here.

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Deposit and withdrawal 1 stars

You can use only bank transfer for ingoing and outgoing payments. As a plus, BGL BNP Paribas deposit is free of charge. However, it is not user-friendly.
Pros
  • No deposit fee
Cons
  • Not user-friendly
  • Only bank transfer
BGL BNP Paribas and alternatives withdrawal options and fees
BGL BNP Paribas Saxo Bank Internaxx DEGIRO
Bank Transfer Yes Yes Yes Yes
Credit/Debit card No No No No
Electronic wallets No No No No
Withdrawal fee $1 $0 $0 $0

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Web trading platform 2 stars

The web trading platform offers a safe two-step login. It has also good search function and you can set order confirmation. But, it is not user-friendly and customizable. There is no clear fee report either.
Pros
  • Two-step (safe) login
  • Good search function
  • Order confirmation
Cons
  • Not user-friendly
  • No clear fee report available
  • Limited customizability (for charts, workspace)
BGL BNP Paribas and alternatives trading platform scores
BGL BNP Paribas Saxo Bank Internaxx DEGIRO
Web platform score 2 stars 5 stars 3 stars 4 stars
Mobile platform score 3 stars 5 stars 3 stars 4 stars
Desktop platform score - 5 stars - -

Learn more about BGL BNP Paribas's web trading platform in the detailed BGL BNP Paribas review.

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Markets and products 2 stars

BGL BNP Paribas gives you access to ~20 stock markets which is a good coverage. It also offers a wide range of mutual funds. Furthermore, you can trade with European bonds and options. On the flip side, there is no FX or CFDs.
BGL BNP Paribas and alternatives markets and products
BGL BNP Paribas Saxo Bank Internaxx DEGIRO
Stock Yes Yes Yes Yes
ETF Yes Yes Yes Yes
Forex No Yes Yes No
Fund No No Yes Yes
Bond Yes Yes No Yes
Options No Yes Yes Yes
Futures No Yes Yes Yes
CFD Yes Yes Yes Yes
Crypto No Yes Yes Yes

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Verdict

BGL BNP Paribas has a good stock market coverage. It also offers a high investor protection amount which is a great sign for its security.

On the other hand, it has very high fees. The account opening is complicated and there is a €50,000 minimum required balance. Lastly, the research tools are limited.

Choose BGL BNP Paribas if you are an investor with higher amounts to invest and you want a broker from a top-tier financial jurisdiction.

BGL BNP Paribas
Summary BGL BNP Paribas is a Luxembourgish broker. It has a banking background and regulated by CSSF, the Luxembourgish financial regulator.
Fees score 1 stars
Recommended for Investors aiming for an account with large banking group and personal advisory services

More Visit broker

BGL BNP Paribas alternatives
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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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
BGL BNP Paribas vs. Saxo Bank: Trading fees
Saxo Bank BGL BNP Paribas
Apple benchmark fee $20.0 $168.9
Vodafone benchmark fee $15.0 $169.2
EURUSD benchmark fee $58.4 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

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 account balance is higher than $500
  • Sales team pushy
  • Classic accounts available only in a single currency
BGL BNP Paribas vs. Saxo Bank: Minimum deposit, time to open an account
Saxo Bank BGL BNP Paribas
Minimum deposit $725 $57,000
Time to open account 1-3 days >3 days

If you are interested more in Saxo Bank minimum deposit, this overview will help you.

More Visit broker

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
BGL BNP Paribas vs. Saxo Bank: Withdrawal options
Saxo Bank BGL BNP Paribas
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $1

More Visit broker

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 nice
Cons
  • No two-step (safe) login
  • Limited customizability (for charts, workspace)
Web trading platform of Saxo Bank, a BGL BNP Paribas alternative
BGL BNP Paribas vs. Saxo Bank: Trading platform scores
Saxo Bank BGL BNP Paribas
Web platform score 5 stars 2 stars
Mobile platform score 5 stars 3 stars
Desktop platform score 5 stars -

Learn more about Saxo Bank's web trading platform in the detailed Saxo Bank review.

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Markets and products 4 stars

At Saxo Bank you can reach many markets and trade with a lot of different products, except for funds.
BGL BNP Paribas vs. Saxo Bank: Markets and products
Saxo Bank BGL BNP Paribas
Stock Yes Yes
ETF Yes Yes
Forex Yes No
Fund No No
Bond Yes Yes
Options Yes No
Futures Yes No
CFD Yes Yes
Crypto Yes No

More Visit broker

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

More Visit broker

BGL BNP Paribas alternatives
Internaxx

3.6 4 stars

Internaxx logo

Internaxx is a Luxembourg-based online broker specialized in international investors and expats. It was established in 2000. It is regulated by CSSF, the Luxembourg financial regulator. 

Internaxx is considered safe because it is regulated by the top-tier Luxembourg regulator, it has a banking license, and the investor protection amount is high.

Recommended for buy and hold investors with bigger amounts to invest

Pros
  • Great research by Morningstar
  • Outstanding investment fund offering
  • Banking license and high investment protection
Cons
  • High fees
  • Slow and not fully digital account opening
  • Limited education materials

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Fees 1 stars

Internaxx offers high trading fees and average non-trading fees. It has an easy to understand fee structure.
Pros
  • Transparent fee structure
Cons
  • High trading fees
  • Inactivity fee
  • High financing rate
BGL BNP Paribas vs. Internaxx: Trading fees
Internaxx BGL BNP Paribas
Apple benchmark fee $38.3 $168.9
Vodafone benchmark fee $38.6 $169.2
EURUSD benchmark fee $57.9 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 1 stars

You can open an account without a required minimum amount. However, the process is not fully digital, you need to submit the docs by post.
Pros
  • No minimum account balance
Cons
  • Slow account opening
  • Not fully digital
  • Not user-friendly
BGL BNP Paribas vs. Internaxx: Minimum deposit, time to open an account
Internaxx BGL BNP Paribas
Minimum deposit $0 $57,000
Time to open account >3 days >3 days

If you are interested more in Internaxx minimum deposit, this overview will help you.

More Visit broker

Deposit and withdrawal 3 stars

At Internaxx you can have your account in 9 different currencies. This is convenient. On the other side, you can deposit and withdraw only via a bank transfer.
Pros
  • Free withdrawal
  • No deposit fee
  • Several account base currencies
Cons
  • Credit/Debit card deposit and withdrawal not available
BGL BNP Paribas vs. Internaxx: Withdrawal options
Internaxx BGL BNP Paribas
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $1

More Visit broker

Web trading platform 3 stars

Internaxx has a well-designed and user-friendly web trading platform. However, it lacks the customizability, the two-step login and order types are limited.
Pros
  • User-friendly
  • Innovative functions (i.e. Chatbot)
  • Looks nice
Cons
  • No two-step (safe) login
  • Limited order types
  • No order confirmation
Web trading platform of Internaxx, a BGL BNP Paribas alternative
BGL BNP Paribas vs. Internaxx: Trading platform scores
Internaxx BGL BNP Paribas
Web platform score 3 stars 2 stars
Mobile platform score 3 stars 3 stars
Desktop platform score - -

Learn more about Internaxx's web trading platform in the detailed Internaxx review.

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Markets and products 2 stars

At Internaxx you can trade with almost all asset classes except for bonds. You will have access to a great investment fund list while other asset classes are mid-range.
BGL BNP Paribas vs. Internaxx: Markets and products
Internaxx BGL BNP Paribas
Stock Yes Yes
ETF Yes Yes
Forex Yes No
Fund Yes No
Bond No Yes
Options Yes No
Futures Yes No
CFD Yes Yes
Crypto Yes No

More Visit broker

Verdict

Internaxx is a safe broker from Luxembourg. It concentrates on funds and stocks, but you can trade with almost all derivative asset classes on a separate platform operated by Saxo Bank. You will also like their research tools provided by Morningstar, a professional research company. Internaxx's banking license ensures a tougher regulation and a higher than average investor protection amounts.

On the other hand, Internaxx’s trading fees are expensive and have a high inactivity fee. Account opening is not fully digital and therefore sluggish. You should expect only a couple of written educational materials and you can deposit your account only via a bank transfer.

Choose Internaxx if you are an investor with higher amounts to invest and you want a broker from a top-tier financial jurisdiction.

Internaxx
Summary Internaxx is a Luxembourgish broker. It has a banking background and is regulated by CSSF, the Luxembourg financial regulator.
Fees score 1 stars
Recommended for Buy and hold investors with bigger amounts to invest

More Visit broker

BGL BNP Paribas alternatives
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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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
BGL BNP Paribas vs. DEGIRO: Trading fees
DEGIRO BGL BNP Paribas
Apple benchmark fee $1.4 $168.9
Vodafone benchmark fee $5.2 $169.2
EURUSD benchmark fee - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

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 account balance
  • User-friendly
Cons
None
BGL BNP Paribas vs. DEGIRO: Minimum deposit, time to open an account
DEGIRO BGL BNP Paribas
Minimum deposit $0 $57,000
Time to open account 1 day >3 days

If you are interested more in DEGIRO minimum deposit, this overview will help you.

More Visit broker

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 deposit and withdrawal not available
BGL BNP Paribas vs. DEGIRO: Withdrawal options
DEGIRO BGL BNP Paribas
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $1

More Visit broker

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 (safe) login
  • Looks nice
Cons
  • Limited customizability (for charts, workspace)
  • No price alerts
Web trading platform of DEGIRO, a BGL BNP Paribas alternative
BGL BNP Paribas vs. DEGIRO: Trading platform scores
DEGIRO BGL BNP Paribas
Web platform score 4 stars 2 stars
Mobile platform score 4 stars 3 stars
Desktop platform score - -

Learn more about DEGIRO's web trading platform in the detailed DEGIRO review.

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Markets and products 3 stars

At DEGIRO you can access many markets and trade with a lot of different products, except for forex.
BGL BNP Paribas vs. DEGIRO: Markets and products
DEGIRO BGL BNP Paribas
Stock Yes Yes
ETF Yes Yes
Forex No No
Fund Yes No
Bond Yes Yes
Options Yes No
Futures Yes No
CFD Yes Yes
Crypto Yes No

More Visit broker

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

More Visit broker

BGL BNP Paribas alternatives
Bottom line

Based on our analysis, there are several good alternatives to BGL BNP Paribas. They all offer similar products and target similar customers. Here's a recap of the results in a table.

BGL BNP Paribas alternatives
Broker Info Recommended for
BGL BNP Paribas Luxembourgish investment bank Investors aiming for an account with large banking group and personal advisory services
Saxo Bank Danish investment bank Investors and traders looking for a great trading platform and solid research
Internaxx Luxembourgish online broker Buy and hold investors with bigger amounts to invest
DEGIRO Dutch discount broker Price-sensitive buy and hold investors and traders looking for only execution

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

AUTHOR

Dan Sallai
Dan Sallai
CMO
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
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