Brokers

Top 5 Brokers With Commission-Free Trading for Europeans

Commission-free brokers in Europe are all about cutting costs for securities and products to a bare minimum. But who are the best brokers? We've reviewed the top choices for this year.
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High fees and commissions have long haunted European investors. Thankfully, we are now seeing a surge of brokers offering commission-free investing and trading across the continent.

With prices going down, the number of brokerages to choose from is only going up. And they all seem to scramble to lure new clients with sleekly designed platforms, zero maintenance costs, and very few strings attached.

The question is, how do you find the right broker for your needs?

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: Best for free stock & ETF investing. Founded in 2007 and highly regulated, eToro offers commission-free stock and ETF trades for Europeans, with access to over 1,900 instruments. It’s a solid, all-around broker for new investors.
  • DEGIRO: Best low-cost equity broker. Launched in 2013, DEGIRO is a popular European discount broker with free monthly ETF trades and incredibly low stock trading fees. Investors looking for a low-costs and easy maintenance will find DEGIRO a great fit.
  • XTB: Best for active traders. Regulated by multiple top-tier financial authorities across Europe, XTB is a highly popular low-cost brokerage due to its cutting-edge tools and platforms, and zero commission fee structure on stock indexes, commodities, forex, and cryptocurrencies.
  • Firstrade: Best for US equities and safety. Operating since 1985, Firstrade is a long-standing US broker that offers free trading of US stocks to European investors, with the benefit of $500,000 account protection through the SIPC.
  • Trading 212: Great for new traders. Regulated by the FCA, Trading 212 stands out as a great all-around discount brokerage for novice traders and buy-and-hold investors with innovate tools and platforms, and zero-fee stock and ETF trading.

eToro: Zero-commission stocks and ETFs

Top 5 Brokers With Commission-Free Trading for Europeans 1

Best for: Zero-commissions stocks & ETFs

Founded in 2007, eToro is an international discount broker with 12 million users. Investors based in the EU or UK can enjoy commission-free trading of stocks and ETFs, while traders have access to an extensive list of commodities, cryptocurrencies, forex, and indices employable as CFDs.

Besides its long track record, eToro is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the UK’s Financial Conduct Authority (FCA), meaning EU investors are protected up to €20,000, and UK clients up to £85,000

If you plan on trading CFDs, note that 62% of retail investor accounts lose money when trading CFDs with this provider.

Fees

eToro charges no fees for opening or closing normal stock or ETF trades (non-leveraged positions), and there are no mark-ups, no ticket fee, and no management fees involved. This means clients can enjoy a large amount of commission-free stock and ETF trades with few restrictions. The one downside is that eToro only offers USD-based accounts.

CFD trades incur a spread fee of 0.09% for buy and sell and overnight and weekend rollover fees. However, these are not relevant if you plan on holding normal stocks and ETFs.

eToro features

Trading feesNone, low
ProductsStocks, ETFs, indices, crypto, forex, commodities, CFDs
Supported countriesAll of Europe (minus Serbia)
RegulationFCA (UK clients), ASIC (Australian clients), CySEC (EU clients & others).
Minimum deposit$200
Inactivity feeYes, $10 monthly if no login for 12 months
Time to open account48 hours
Base currenciesUSD
Demo accountYes

DEGIRO: Zero-commission ETF broker with low trading fees

DeGiro: Top online broker in Europe with low fees for stocks and etfs

Best for: Everyday investors

Based in the Netherlands, DEGIRO is a highly popular discount broker due to its low fees and monthly free ETF trades. Aside from stocks and ETFs, DEGIRO offers bonds, options, futures, and leveraged products and access to around 50 exchange worldwide.

With industry-leading commission rates, and a beginner-friendly trading platform, DEGIRO is a perfect fit for investors looking for low costs and ease-of-use.  

Disclaimer: Investing involves risk of loss.

Fees

While DEGIRO’s fees are among the lowest in Europe, the broker only allows one commission-free ETF trade per month, regardless of size. If you plan on trading more, eToro might be a better choice. However, DEGIRO charges 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.

Free services aside, 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).

Moreover, there is a connectivity fee of €2.5 per year for each exchange you trade on (except the London Stock Exchange), and a currency exchange fee: 0.10% of the traded amount.

DEGIRO features

Trading feesLow
ProductsShares, ETFs, bonds, options, futures, leveraged products
Supported countriesSee list
RegulationAFM (Netherlands)
Minimum deposit€0
Inactivity feeNo
Time to open account24 hours
Supported currenciesCHF, CZK, DKK, EUR, GBP, HUF, NOK, PLN, SEK

XTB: Zero-commission indices & commodities

XTB - Leading European forex broker

Best for: Active trading

Founded in 2002, XTB is a trusted multi-asset broker regulated by several prudent financial authorities in Europe. XTB offers a broad suite of instruments tradeable at low costs, including over 1,500 stocks, 100 ETFs, 40 indices, major commodities, plus all the most popular FX and cryptocurrency pairs.

80% of retail investor accounts lose money when trading CFDs with this provider

XTB delivers a great all-around package for active traders thanks to its beginner-friendly trading platform suite, the xStation 5, but also because of its simple pricing model for private traders, with zero commissions charged on indices, commodities, forex, and cryptocurrencies for its retail ‘Standard’ account.

Fees

The Standard account keeps things simple by avoiding calculating commission for each trade as it instead charges a spread at min. 0.35. Besides the commission-free products, XTV offers CFDs on stocks and ETFs from as little as 0.08% per lot.  

XTB features

FeesLow
ProductsStock indexes, commodities, forex, CFD, crypto
Supported countriesMost European countries
RegulationFCA (UK), CySEC (Cyprus), KNF (Poland)
Minimum deposit€0
Inactivity feeNo
Time to open account48 hours
Base currenciesMultiple
Demo accountYes

Firstrade: Zero-fee US equities

Top 5 Brokers With Commission-Free Trading for Europeans 3

Best for: US-based equities & investor protection

Founded in 1985, Firstrade is a highly trusted US broker that offers free US equity trades to European investors and is popular for its easy-to-use mobile trading app. Overall, Firstrade is a great brokerage for everyday investors and presents a robust alternative its Europe-based competitors.  

Besides its long track record, Firstrade is strictly regulated by the Securities and Exchange Commission (SEC), and international investors enjoy protection from the Securities Investor Protection Corporation (SIPC) up to $500,000 – far surpassing the EU’s mandatory compensation scheme of only €20,000.

on Firstrade’s secure website

EU citizens should note that US-domiciled ETFs are not accessible due to new MIFID & PRIIPs rules.

While the design of Firstrade’s web-based trading platform is slightly outdated, we highly recommend its mobile app because it offers a clean design and beginner-friendly layout. Benefits include cross-device synching of watch lists and real-time streaming quotes.

Fees

Firstrade offers commission-free stock and option trading for international customers with ownership of the underlying asset. Moreover, there is no minimum deposit, inactivity, or account maintenance fees for equities. There is no withdrawal fees for ACH transfers, but international outgoing transfers costs $50. To avoid this fee, European investors can get a free local US bank account with TransferWise.

Firstrade features

FeesNone, low
ProductsUS stocks, options, bonds
Supported countriesMost European countries
RegulationSEC, FINRA
Minimum deposit$0
Inactivity feeNo
Time to open account48 hours
Base currenciesUSD
Demo accountNo

Trading 212: Commission-free equity trades

Trading 212 Platform Review

A new name to the broker scene, Trading 212 is one of the most downloaded trading apps in Europe with a 4.6-star user rating on iOS and Android. Launched in 2006, this discount broker aims to democratize 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

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 traders.

Fees

Trading 212 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.

With the CFD account, you speculate on financial markets such as stocks, forex, commodities and indices. 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. However, you should keep an eye on the exchange rate.

Trading 212 features

Trading feesLow
ProductsStocks, ETFs, forex, commodities, CFDs
Supported countriesMost of Europe (minus Belgium)
RegulationFCA (UK), FSC (Bulgaria)
Minimum deposit€1
Inactivity feeYes, after 180 days
Time to open account48 hours
Base currenciesEUR, 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

Free stock trading Europe
How do you choose a reliable broker for commission-free trading?

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).

One way to get around this problem is to use low-cost exchange services like Revolut or TransferWise for your deposits.

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

Fee-free stock investing in Europe
Frequently asked questions about commission-free trading

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 a spread?

A spread is the difference between two prices, usually the buy versus sell price. 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.

What are spreads in trading?

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?

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.