Once your European bank account is sorted, the next question many expats ask is: where can I invest? Your home-country broker may not accept non-resident EU clients, and tax rules follow your country of residence — so an EU-based broker that accepts expats is usually the practical answer.
This guide compares four of the most popular brokers among expats in Europe — Trade Republic, DEGIRO, Interactive Brokers and XTB. We present them as options with honest trade-offs, not a single "#1 best". Fees change regularly, so always verify on the broker's official price list before opening an account. Risk warning: investing involves risk, including the possible loss of principal. This guide is educational, not financial advice.
Quick comparison: brokers for expats in Europe
| Broker | Stocks/ETFs | Savings plans | Min. deposit | Regulator | Best for |
|---|---|---|---|---|---|
| Trade Republic | €1 flat per trade | Free, from €1 | €0 | BaFin (Germany) | Beginners, ETF savers |
| DEGIRO | From ~€1 + exchange fees | Not available | €0 | BaFin / DNB | Cost-conscious manual investors |
| Interactive Brokers | US: $0.0035/share; EU: 0.05% (min €1.25) | Not available | €0 | Central Bank of Ireland (EU) | Active & experienced investors |
| XTB | €0 up to €100k/month turnover | Not available | €0 | KNF / CySEC / FCA | Commission-free stock/ETF trading |
1. Trade Republic — the beginner's favourite
Trade Republic
Trade Republic is the Berlin-based neobroker that has become the default first broker for a generation of European investors, with over 10 million customers across 18 European countries. Uniquely among its peers, it operates as a fully licensed German bank (Trade Republic Bank GmbH) under BaFin supervision — cash deposits are covered by the German statutory deposit guarantee up to €100,000, and securities are held in segregated custody in your name.
Pricing is famously simple: €1 flat per trade on stocks, ETFs and bonds regardless of size. But its flagship feature is the savings plan (Sparplan): automatic recurring purchases into any of 2,000+ ETFs and thousands of stocks, starting from just €1 — completely free, with no commission and no spread markup. For an expat doing monthly dollar-cost averaging into a global index ETF, this is genuinely best-in-class pricing.
Trade Republic also pays interest on uninvested cash (ECB-linked, on balances up to €50,000 — the rate tracks the ECB deposit facility rate, so it moves with monetary policy). Watch the fine print: a 0.25% FX conversion applies on non-euro trades (relevant when buying US stocks), crypto costs €1 plus a 1% spread, and the platform is mobile-first with limited research tools — it's built for simplicity, not active trading.
2. DEGIRO — the low-cost veteran
DEGIRO
DEGIRO is the Dutch-born broker (now part of flatexDEGIRO Bank, supervised by BaFin) that pioneered low-cost investing in Europe. Its pricing: roughly €1 handling fee plus exchange-specific fees — e.g. €3.90 on Xetra or most Euronext markets — with a curated free ETF selection list where commission is waived (you still pay the handling fee).
Where DEGIRO beats Trade Republic is breadth: options, futures, investment funds, bonds and leveraged products, across many more exchanges. It's the better fit if you outgrow simple ETF saving and want real multi-exchange access without Interactive Brokers' complexity.
The quirks: a €2.50/year connectivity fee per exchange (small, but annoying), no savings plans, currency conversion at 0.25% via AutoFX, and no interest on uninvested cash. Account opening is open to EEA residents, and deposits are covered by the German deposit guarantee up to €100,000.
3. Interactive Brokers — the professional's toolkit
Interactive Brokers
Interactive Brokers (IBKR) is the heavyweight: access to 150+ markets and 30+ currencies, every asset class imaginable (stocks, ETFs, options, futures, bonds, forex, mutual funds), and institutional-grade pricing — US stocks at $0.0035 per share, EU stocks at 0.05% of trade value. Its currency conversion is among the cheapest anywhere, which matters for expats juggling euros, dollars and pounds.
EU clients are served by Interactive Brokers Ireland, regulated by the Central Bank of Ireland, with investor compensation up to €20,000. IBKR also pays interest on idle cash — though only on balances above €10,000, and at a proportional rate for smaller accounts.
The price of all this power is complexity: account opening is slow, the platform has a steep learning curve, and there is no demo hand-holding. This is not a beginner broker. It's the right choice for experienced investors, active traders, and expats who need exotic markets or the cheapest FX conversion in the business.
4. XTB — commission-free stocks and ETFs
XTB
XTB, the Polish-listed broker regulated across the EU (KNF, CySEC, FCA), offers €0 commission on stocks and ETFs up to €100,000 of monthly turnover — beyond that, 0.2% with a €10 minimum applies. For buy-and-hold investors, the threshold is generous enough that trading is effectively free.
The xStation 5 platform is polished and beginner-friendly, with good charting and research tools — a step above Trade Republic's minimalism. XTB also offers CFDs (contracts for difference) alongside real stocks: treat these with extreme caution — CFDs are leveraged products and the majority of retail CFD accounts lose money.
Watch two costs: a €10/month inactivity fee after one year of no activity, and FX conversion fees (0.5% weekdays, 0.8% weekends on some entities) when trading non-euro assets. XTB is a strong, transparent option for commission-free stock and ETF investing in Europe.
How to choose: match the broker to your style
- "I'm new and want to invest €100/month into ETFs" → Trade Republic free savings plans. Set it and forget it.
- "I want cheap manual trades and more products" → DEGIRO — low fees, real exchange access, options and funds.
- "I trade actively or need global markets" → Interactive Brokers — unmatched breadth and FX pricing, steep learning curve.
- "I want €0 commission with a proper platform" → XTB — commission-free up to €100k/month turnover.
Expat-specific things to know before you invest
- Tax residency rules: you generally pay tax where you live, not where the broker is. Brokers like Trade Republic withhold German tax automatically; international brokers (Interactive Brokers, DEGIRO, XTB) usually don't — you'll declare gains yourself in your annual tax return.
- Regulated ≠ risk-free: EU brokers must segregate client assets and offer investor compensation (up to €20,000 for investment firms), but your investments can still lose value.
- CFDs warning: leveraged products are complex and high-risk — a large share of retail CFD accounts lose money. Stick to real stocks and ETFs unless you're experienced.
- Check availability: broker availability and pricing vary by country of residence. Confirm on the broker's site that your country is supported.