Comparing European ETF broker fees is harder than it looks. Each broker uses a different fee structure — some bundle FX into the spread, others charge a separate conversion fee. Some make custody fees free but charge inactivity fees, others quote “zero commission” but recover the cost through a wider currency spread. This interactive comparator strips that away. Plug in your portfolio size, monthly DCA amount, and whether you trade USD-listed ETFs, and you will see what each EU broker actually costs you over a year.
I have personally tested every broker on this list with real money over the past 11 years of self-directed Bogleheads-style investing. The dataset below reflects published fee schedules as of 4 June 2026. Broker fees change frequently — always verify on the broker site before opening an account.
EU broker fee comparator
| Broker | Commission/yr | FX/yr | Custody/yr | Total/yr | |
|---|---|---|---|---|---|
| Loading… | |||||
aff = affiliate partner. Visiting the broker through that link may pay financialexpertclass.com a referral commission at no cost to you. Editorial coverage is independent — see our Affiliate Disclosure. The cheapest broker for your inputs is highlighted in amber.
See also: Trade republic transfer to another broker.
What the comparator actually models
The annual cost the comparator shows is the sum of three components for a buy-and-hold European investor running a monthly DCA strategy:
- Commission per year — calculated as 12 trades per year (one per month) at each broker’s per-trade fee. For brokers with savings plans (Trade Republic, Trading 212, Scalable Capital), the DCA commission is set to zero because savings-plan trades are free at those brokers.
- FX per year — only applied if you select “Yes” to trading USD-listed ETFs. The model uses each broker’s published currency-conversion spread multiplied by your annual EUR contributions. This is where IBKR’s 0.002% FX vs eToro’s 1.5% FX shows up dramatically at scale.
- Custody per year — applied to your entire portfolio size. Most modern EU brokers have zero custody, with Saxo Investor (0.12%/yr) as the standout exception in this peer group.
The basis-points (bps) figure shown next to the total is the effective drag on your portfolio — useful for comparing brokers when portfolio sizes differ. Anything under 5 bps is excellent, 5–15 bps is fine for most retail investors, and over 25 bps is a meaningful drag worth fixing.
What the comparator does not model: inactivity fees (relevant for Freedom24 if you stop trading for 12+ months), withdrawal fees (most brokers are free; some charge €5-7 per withdrawal), spread on the bid-ask of the ETF itself (a broker-independent cost), and tax-related friction such as withholding rates on dividends. Those are real costs and you should factor them in if they apply to your situation. The comparator focuses on the three line items you can actually compare apples-to-apples.
What I would actually pick for each profile
The cheapest broker on the comparator is not always the right one. Here is how I would actually choose given different European investor profiles, based on 11 years of using these brokers personally.
The pure DCA accumulator (under €100K portfolio, monthly EUR savings plan): Trade Republic, Trading 212, or Scalable Capital. All three offer commission-free savings plans for EUR-listed UCITS ETFs, and the FX question is moot if you stay in EUR-listed funds. Pick by regulatory protection: Trade Republic and Scalable have BaFin + EdW €100K; Trading 212 has CySEC / FCA with ICF €20K or FSCS £85K. For larger cash balances, Trade Republic and Scalable offer better protection.
See also: Best ETF savings plan germany.
The serious multi-currency investor (over €100K, mixes USD and EUR ETFs): Interactive Brokers, no contest. IBKR’s 0.002% FX (minimum $2) is more than 100x cheaper than eToro’s 1.5% — the difference on a €1,000 USD trade is €0.02 vs €15. At €10K/month DCA over five years, that single line item is worth thousands of euros.
The European-investor wanting US ETF access (CSPX-style): Freedom24 for its Pro Status path to US-listed funds, or IBKR for a more institutional setup. Freedom24 has a friendlier UI; IBKR is cheaper but harder to learn.
The Nordic / DKK investor: Saxo Investor remains the strong default for the user experience, despite the 0.12%/yr custody fee. The fee is hard to swallow on a large portfolio — at €500K that is €600/yr versus €0 at IBKR.
The XTB sweet spot: XTB’s 0% commission applies up to €100K annual trading volume per year. For an investor in the €25K-100K portfolio range with monthly EUR DCA, XTB is genuinely the cheapest on this list as long as the ETF universe (~400 funds) covers what you need. The 0.5% FX kicks in only if you go for USD-listed ETFs — for EUR-listed UCITS, the comparator shows zero FX cost.
How accurate are the fees in the dataset?
Every fee figure was taken from the broker’s official fee schedule on 4 June 2026. The primary sources are listed at the bottom of this page. I deliberately included both affiliate-partner brokers (clearly marked with an “aff” badge in the comparator results) and non-affiliate brokers like DeGiro, Trading 212, Saxo, Scalable Capital, and Lightyear for editorial balance — the cheapest broker for your inputs is whoever the calculation makes cheapest, not whoever pays me.
See also: CSH2 trading 212.
Broker fees change. I review this page every quarter and re-publish with an updated Reviewed date at the top. If you notice a stale figure, email [email protected].
Frequently asked questions
Why are some brokers marked “aff” and how does that affect ranking?
The “aff” badge marks brokers that pay financialexpertclass.com a referral commission if you open an account through the link — specifically Trade Republic, Interactive Brokers, XTB, Freedom24, and eToro. The comparator ranking itself is purely mathematical: brokers are sorted by total annual cost for your inputs, with no preference for affiliate partners. If a non-affiliate broker like Trading 212 or Scalable Capital is cheaper for your profile, they show at the top. Full editorial-independence policy at our Affiliate Disclosure page.
Does the comparator include inactivity or dormancy fees?
No. Inactivity fees only kick in if you stop trading for a long period — usually 12 months or more. Freedom24 charges $7/month if dormant, IBKR removed its inactivity fee in 2021, and most others do not have one. If you DCA monthly into the broker, you will never trigger these fees. We treat them as a separate line item rather than baking them into the annual cost calculation, because they distort the picture for active investors.
Why is Interactive Brokers so much cheaper on FX than every other broker?
IBKR runs an institutional FX desk and routes retail conversions through the same infrastructure. Its FX cost is 0.002% with a $2 minimum — effectively interbank rates plus a tiny markup. Most other brokers add a 0.25%-1.5% spread on top of the mid-rate, which is hidden in the conversion FX rate and harder to spot. Over time, FX is often the largest single broker cost for a European investor holding USD-listed funds — which is exactly why IBKR’s edge here compounds so dramatically at scale.
What about investor protection — ICF vs FSCS vs EdW?
Each broker is regulated in a specific EU country and falls under that country’s investor compensation scheme. Trade Republic, DeGiro (German entity), and Scalable Capital are under Germany’s EdW at €100K. Freedom24, XTB, eToro, and Trading 212 (EU entity) fall under the standard EU ICF at €20K. Saxo has the DFSA guarantee. For UK retail entities (some Trading 212, Lightyear), the FSCS at £85K is the relevant scheme. These cover broker insolvency, not market losses. Your actual ETFs are also segregated under the UCITS regime, which adds another layer of protection.
How often is this comparator updated?
Quarterly. The next scheduled review is September 2026. I also publish material fee changes immediately when a major broker updates its schedule — for example, when IBKR removed its inactivity fee in 2021 or when Trade Republic launched its 1 EUR ad-hoc fee. The Reviewed date at the top of the page is the authoritative timestamp.
Sources and further reading
- European regulator references: ESMA for cross-border ETF distribution; BaFin (Germany); CySEC (Cyprus).
- EU broker-fee directories I cross-check against: justETF for broker comparison filters; Morningstar UK ETF database.
- Bogleheads wiki on broker selection: Bogleheads EU investing.
- Investor compensation scheme details: EdW (Germany), FSCS (UK).
Last reviewed: 4 June 2026 by Kestutis Balciunas. Site operated by Aurum Digital Marketing LTD (UK), Companies House 15203665. Not FCA-regulated; nothing on this page is personalised financial advice.
See also: the Norway broker comparison.
See also: Degiro automatic investing.
These numbers make more sense with the guide
The free 12-page Starter Kit turns them into decisions: your first fund, a safe broker, and the tax basics for your country.
See also: the Finland broker comparison.
Related reading: Best broker for Belgian investors 2026.
More guides on this topic
Broker fee deep-dives
The real cost of each platform, beyond the headline 0%:
- Interactive Brokers Fees for European ETF Investors: Tiered vs Fixed Explained (2026)
- Trading 212 Fees for ETF Investors: What Commission-Free Actually Costs
- DEGIRO Fees Explained: Core Selection, Connectivity Fee and Minimum Deposit (2026)
- XTB Fees Explained: The 0.5% Currency Conversion Fee and How to Avoid It
- The Cheapest ETF Brokers in Europe (2026): Total-Cost Ranking
- Which European Brokers Offer Fractional ETF Shares? (2026)