To make our content free of charge, this post may contain references to products from our partners. However, our opinions are our own and aren’t influenced by compensation.
Finding a reliable brokerage for commission-free trading in Europe can sometimes feel like an uphill battle. With so many brokers to choose from nowadays, it can be difficult to pick the one that will best serve your personal trading and investment needs.
Now that commission free trading has finally landed in Europe, new and old players in the industry are scrambling to lure in new clients with all-time low trading costs, zero service fees, and very few strings attached.
In an attempt to attract more users, these commission-free brokerage firms for Europeans are all about cutting costs for trading securities and products to a bare minimum, raising the bar in customer experience, and adapting trade to the smartphone world.
To help you make up your mind about where to start, we tested and compared several top brokerages for commission free trading in Europe for different types of needs — and for every kind of market.
We looked at the top brokerages for zero commission trading in Europe of stocks, ETFs, forex, commodities, crypto, leveraged products, and other tradable instruments, and picked the best broker from each category.
The Best Brokers for Commission-Free Trading in Europe
Our overview of the best brokers for commission-free trading in Europe:
- eToro: Popular discount broker for stocks, ETFs, crypto, forex and more. Over 12 million users worldwide.
- DEGIRO: Best low-cost equity broker in Europe with zero service fees and rock bottom prices for trading.
- Fusion Markets: Best discount forex broker with zero-commission trading model, ultra-tight spreads, low pips, and zero non-trading fees.
- Trading 212: Fast-growing, zero-commission broker in Europe. Has the most downloaded trading app in Europe.
eToro: Popular European Zero-Commission Stock and ETF Broker
Founded in 2007, eToro now has 12 million users trading worldwide. This popular discount broker offers a broad range of stocks and ETFs available for commission-free trading in Europe.
eToro charges no fees for opening or closing a non-leveraged position for these securities, no markup, no ticket fee, and no management fee. This means clients can enjoy a large amount of commission-free stock and ETF trades with few restrictions.
62% of retail investor accounts lose money when trading CFDs with this provider.
Besides stocks, there are plenty of other assets users can trade on Etoro: commodities, cryptocurrencies, forex, and indices. Most instruments can also be employed as CFDs, which lets you trade with leverage, short positions, or buy fractional shares.
For leveraged positions (borrowing to open a position larger than your own capital), eToro charges a spread, which is the difference between the Bid (Sell) price, and the Ask (Buy) price. CFD trades incur a spread fee of 0.09% for Buy and Sell and also incur overnight and weekend rollover fees, as detailed per eToro fee page.
|Products||Stocks, ETFs, indices, crypto, forex, commodities, CFDs|
|Supported countries||All of Europe (minus Serbia)|
|Regulation||FCA (UK clients), ASIC (Australian clients), CySEC (EU clients & others).|
|Mobile trading app rating||4.1 Google Play. 3.5 App Store.|
|Inactivity fee||Yes, $10 monthly if no login for 12 months|
|Time to open account||48 hours|
DEGIRO: Best Discount Broker in Europe With Zero-Commission ETFs & Low Trading Fees
Born in the Netherlands, DEGIRO is a widely popular discount broker not just because of its low fees but also due to its commission free ETF trading in Europe.
Aside from stocks and ETFs, DEGIRO offers traditional instruments, like bonds, options, futures, leveraged products and more. It provides access to around 50 exchange worldwide.
Disclaimer: Investing involves risk of loss.
When it comes to fees, DEGIRO’s are among the lowest available on the market. There are no fees for depositing or withdrawing funds, and no account minimums, trading requirement, no inactivity fee, no charge for annual maintenance, and no custody fees.
Moreover, clients can buy or sell a number of popular ETF commission-free once every month.
Aside from these, trading an international ETF costs €2 plus 0.03% of the order value. Charges for trading stocks vary more, but the fees are generally very low. Trading a stock on the London Stock Exchange will set you back £1.75 plus 0.022% (with a maximum of £5.00), while trading on Xetra costs €4.00 plus 0.05% (with a maximum of €60).
- Connectivity fee of €2.5 per year for each exchange you trade on (except the London Stock Exchange).
- Currency exchange fee: 0.10% of the traded amount.
|Products||Shares, ETFs, bonds, options, futures, leveraged products|
|Supported countries||Most of Europe|
|Mobile trading app rating||4.5 Google Play. 4.4 App Store.|
|Time to open account||24 hours|
|Supported currencies||CHF, CZK, DKK, EUR, GBP, HUF, NOK, PLN, SEK|
Fusion Markets: Fore Broker with Zero-Commission Model for Novice Traders
Based in Australia, Fusion Markets is a popular discount forex broker offering tight spreads and zero-to-low trading commissions on 90 currency pairs.
Fusion Markets is a multi-asset trading platform with a heavy emphasis in forex. However, it also offers CFDs, commodities, precious metals, indices, and cryptocurrencies with leverage up to 1:500.
59% of retail investor accounts lose money when trading CFDs with this provider.
There are two account types available for traders: The ‘Classic’ account for beginners and the ‘Zero’ account for pro traders. Both types have zero service fees, which means there are no account creation fees, deposit fees, withdrawal fees, or inactivity fees.
With ‘Classic’, zero commissions are charged for trading, as fees are included in the spread. Spreads start from only 0.8 pips.
The ‘Zero’ account type, on the other hand, is geared towards seasoned traders who prefer a tiered pricing model. It has spreads starting from 0 pips and $4.50 commission charge.
Fusion Markets is regulated by the Australian Securities and Investment Commission (ASIC) as a securities dealer with the Licence No. 226199.
Fusion Markets is a discount forex broker first and foremost with significantly lower cost than most its competitors. This also means their educational materials are limited to a demo model.
It uses the MetaTrader 4 which is the most popular trading software for professionals but also one that requires a good deal of training to get used to.
Fusion Markets Overview
|Products||Forex, CFDs, commodities, indices, metals, crypto|
|Supported countries||Most of Europe|
|Time to open account||24 hours|
Trading 212: Fast-Growing Discount Broker With 14 m App Downloads
Though a relatively new name to the investment scene, Trading 212 is now one of the most downloaded free trading apps in Europe with a 4.6-star user rating on iOS and Android.
Launched in 2006, this discount broker aims to democratise trading by offering 3,000+ stocks and ETFs for trading in Europe with no commissions, no markups, or management fees.
80% of retail investor accounts lose money when trading CFDs with this provider
Moreover, Trading 212 also charges no fees for maintenance, custody, transactions, currency conversion, withdrawals, deposits or dividend processing.
This zero-fee policy only applies to clients with less than 100 orders per month (with a maximum value of 100,000 EUR). Also, active day trades (buying and selling on the same day) do no qualify for zero commissions.
Trading 212 offers 3 account types: Invest, CFD and ISA. Invest and ISA are aimed at buy-and-hold investors, as both have no commissions, while CFD aims to attract active trades.
With the CFD account, you speculate on financial markets such as stocks, forex, commodities and indices. Retail traders in the EU have their leverage capped at 1:30, while professional clients can trade with leverage up to 1:500. For your open positions Trading 212 will credit or debit your account on a daily basis with an interest SWAP
- Currency exchanges are free for Invest, while CFD accounts incur a 0.5% charge. Keep an eye on the exchange rate.
Trading 212 is authorised and regulated by the FCA (Financial Conduct Authority) in the United Kingdom with register number 609146.
Trading 212 Ltd. is authorised and regulated by the Financial Supervision Commission (FSC) in Bulgaria with register number RG-03-0237.
|Products||Stocks, ETFs, forex, commodities, CFDs|
|Supported countries||Most of Europe (minus Belgium)|
|Regulation||FCA (UK), FSC (Bulgaria)|
|Mobile trading app rating||4.6 Google Play. 4.5 App Store.|
|Educational material||Youtube channel|
|Inactivity fee||Yes, after 180 days|
|Time to open account||48 hours|
|Base currencies||EUR, GBP, USD|
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 59 – 80% of retail investor accounts lose money when trading CFDs with these providers. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
How to Choose a Commission Free Broker in Europe
Whether you’re an active trader or buy-and-hold investor, there are a number of things to keep in mind before choosing a broker. ‘Commission-free’ brokers in Europe can in some cases be expensive to use if the overall costs are not assessed appropriately.
Although it may not seem so from the surface, commission-free trading in Europe is never completely free. While the price for opening or closing a position is generally cheaper than with traditional brokers, the companies offering these services still need to make money.
They charge some kind of fee, be it for exchanging currency, withdrawing funds, or something else. Commission-free trading in Europe often means that the fees are incorporated in the spread. Also, low-cost brokers often lack the breadth of products, charting, news streaming, or advanced tools offered by heavy-weight firms.
With the above pros and cons in mind, its time we delved into the list of brokers and mobile apps offering commission-free trading in Europe.
Watch Out For Exchange Fees
When topping up your account, some brokers automatically exchange your funds into a different denomination than you deposited, often USD. However, larger brokers usually accept local currency deposits.
These are then subsequently exchanged into the denomination of the asset you purchase, either automatically or manually. In return for this service, the broker will charge a flat fee, percent of the exchanged amount, or a give a less attractive exchange rate than the one you find on Google (the so-called Inter-Bank Exchange Rate).
Mind the Spread
A spread refers to the difference between the sell (bid) and the buy (ask) price of a security. When trading stocks, most brokers use market spreads, meaning they match the bid and ask price on the market. For this they charge a fee for every trade. Commission-free brokers might incorporate these fees into the spread which is perceived as less transparent.
Are They Licensed?
Choosing an unlicensed broker is never a good idea. Frankly, it’s a great way to walk headlong into a scam. Only trust a licensed broker with your money, as these are overseen and regulated by national regulatory bodies. Meaning they have to comply with strict rules and perform AML and KYC verification.
Equally important, client funds are protected through compensation schemes in case the company goes bankrupt.
For serving European clients, a lot of brokerages settle on Cyprus as their base. Cyprus has a low corporate tax rate of only 12.5%. At the same time, the country is member of the EU and has fully implemented the Markets In Financial Instruments Directive (MiFID), meaning they’re allowed to sell their financial services customers in all EEA member states.
Frequently Asked Questions
What Is a Commission?
A commission refers to the fee charged by a brokerage for handling sales or purchases of securities on your behalf.
What is spread in trading?
Every market has spreads but the meaning of ‘spread’ varies a great deal. However, a spread is essentially a difference between two prices. In equity trading (stocks, ETFs), the spread refers to the difference in price between bid and sell orders on the market. However, some brokers incorporate their fees into the spread which is considered less transparent. In forex and CFD trading, spread can be thought of as the brokerage fee for executing a position. When buying, the price will always be higher than the real market value, and when selling it will be below it.
What are CFDs?
In its most basic form, a CFD (‘contract for difference’) is a financial derivate used to speculate on price movements of financial markets like shares, crypto, forex, commodities, and indices.