Affiliate disclosure. PieFolio AI is a portfolio tracker, not a broker. We do not currently receive commission from any broker mentioned in this article. If that ever changes, this disclosure will be updated and rankings will not change in response to commercial relationships. See our methodology below.
Choosing a stock broker in Europe or the UK in 2026 is a more crowded decision than it was even three years ago. Zero-commission apps like Trading 212 and Trade Republic have matured into full-service platforms, while institutional names like Interactive Brokers and Saxo have leaned into self-directed retail accounts. At the same time, regulators across the EU and UK have tightened payment-for-order-flow rules, ISA and PEA mechanics, and KID/PRIIPs disclosures — all of which quietly shape what each broker can actually offer you.
This guide is the pillar of our brokers cluster. Each broker below gets a fair, side-by-side treatment based on the same set of criteria. For deeper head-to-heads (Trading 212 vs Interactive Brokers, DEGIRO vs Trading 212, Trade Republic vs Lightyear), follow the links at the end.
TL;DR
- Best all-rounder for UK investors: Trading 212 — free, ISA-eligible, fractional shares.
- Best for serious / global investors: Interactive Brokers — unbeatable market access and pricing, steeper learning curve.
- Best for cost-conscious EU investors: DEGIRO — clear flat fees, broad market coverage, no fractional shares.
- Best for German / EU "set and forget" investors: Trade Republic — clean app, savings plans, broad ETF and savings-plan coverage.
- Best emerging neobroker: Lightyear — multi-currency, transparent FX, modern UX.
Quick answers for EU and UK investors
These answers summarise the comparison table below. Fees and features change often, so confirm them on each broker's own site before you open an account.
- Where can I buy fractional shares in the EU? In our shortlist, Trading 212 and Lightyear (most stocks), Interactive Brokers (US stocks) and Trade Republic (through savings plans). DEGIRO does not offer them.
- Which broker has the lowest fees for dividend investing in the EU? For small, regular buys, Trading 212 lists €0 commission and Trade Republic makes savings plans free. Also compare FX fees if your dividend stocks trade in USD or GBP.
- What is the best app for first-time young investors in the EU? Trading 212 and Trade Republic have the simplest apps in our scoring, with fractional shares or savings plans for small amounts.
- How can I trade stocks online in Europe with no commission? Trading 212 lists €0 for stocks and ETFs, IBKR Lite lists $0 where available, and Trade Republic savings plans are free. Other costs, like FX fees or spreads, still apply.
- Which platforms suit dividend reinvestment in Europe? Savings plans (Trade Republic) and fractional shares (Trading 212, Lightyear) make it easy to reinvest small dividend amounts. Check each broker's reinvestment options directly.
- Which brokers offer fractional shares in the UK? Trading 212 (also ISA-eligible) and Lightyear, plus Interactive Brokers for US stocks.
Methodology
We score each broker on six factors:
- Fees — commissions, FX, custody, inactivity, and withdrawal fees.
- Markets — number of exchanges, asset classes (stocks, ETFs, options).
- Regulation & investor protection — regulator (FCA, BaFin, AFM, CySEC), investor compensation scheme, segregation of client assets.
- Account types — ISA, SIPP, PEA, ASK, Depot, taxable brokerage.
- UX — quality of the mobile and web app, reporting, statements, tax exports.
- Fractional shares & savings plans — important for small or recurring investors.
We do not score on advertising spend, referral bonuses, or marketing relationships. Every figure below reflects what each broker publicly advertises as of the Last updated date at the top — always reconfirm on the broker's own site before opening an account, as terms change frequently.
At-a-glance comparison
| Trading 212 | IBKR | DEGIRO | Trade Republic | Lightyear | |
|---|---|---|---|---|---|
| Regulator | FCA / CySEC | FCA / CBI | BaFin / AFM | BaFin | FCA / EFSA |
| Stock & ETF commission | €0 | $0 Lite / tiered Pro | ~€1–€5 flat | €1 (free on savings plans) | €0–€1 |
| FX fee | 0.15% | ~0.002% + $2 min | 0.25% | bundled in spread | 0.35% (transparent) |
| Fractional shares | ✅ | ✅ (US) | ❌ | ✅ (savings plans) | ✅ (most) |
| ISA / SIPP (UK) | ISA ✅ | SIPP ✅ | ❌ | ❌ | ❌ |
| Interest on cash | ✅ tiered | ✅ above $10k | ❌ | ✅ up to €50k | ✅ multi-currency |
| Mobile UX | ★★★★★ | ★★★ | ★★★ | ★★★★★ | ★★★★ |
Use this to narrow the shortlist; the deep-dives below explain the trade-offs each row hides.
The shortlist
1. Trading 212
Regulator: FCA (UK), CySEC (EU), FSC (Bulgaria). Best for: UK and EU investors who want commission-free trading and a stocks-and-shares ISA in one app.
Trading 212 has become the default starting point for first-time UK investors, mostly because the combination of zero commissions, fractional shares, and a no-fee stocks-and-shares ISA is genuinely hard to beat. The interest paid on uninvested cash (in both GBP and EUR) is a quiet but meaningful differentiator versus competitors that pay nothing.
The trade-off is execution venue and FX. Trading 212 routes most US orders through liquidity providers rather than directly to NYSE/Nasdaq, and FX on non-base-currency trades is 0.15%. For buy-and-hold investors that's almost invisible; for active traders it's worth knowing.
Pros: Free trades, ISA, fractional shares, interest on cash, slick mobile app. Cons: No SIPP, no options for retail, fewer order types than IBKR.
2. Interactive Brokers (IBKR)
Regulator: FCA (UK), Central Bank of Ireland (EU), and others depending on entity. Best for: Investors who want global market access (US, EU, UK, Asia), low-cost FX, and the deepest order-type and asset-class catalog.
IBKR is the broker most serious investors graduate to. Pricing under the IBKR Lite tier is zero-commission for US stocks; under IBKR Pro it's tiered but typically pennies per share. FX is at near-interbank rates — by far the best in this list. You also get access to futures, options, and dozens of international exchanges that most other brokers on this list don't touch.
The cost of all that capability is UX. IBKR's interfaces (Client Portal, TWS, IBKR mobile) are powerful but uncompromisingly dense. For a casual investor who just wants to dollar-cost average into a single ETF every month, it's overkill.
Pros: Best-in-class pricing for global investors, deepest market coverage, near-interbank FX, options/futures, SIPP available. Cons: Steep learning curve, no ISA on IBKR UK retail (as of June 2026 — check status), reporting can be overwhelming.
3. DEGIRO
Regulator: BaFin (Germany) / AFM (Netherlands). Best for: EU investors who want a clear, flat-fee structure across European and US markets.
DEGIRO is the European cost leader for "old-school" investing. There are no zero-commission gimmicks; instead there is a transparent flat fee per trade (typically a couple of euros for US stocks, slightly more for European venues), and a small annual exchange-connection fee. There are no fractional shares, no PEA, and no ISA.
Where DEGIRO shines is breadth — coverage of European exchanges (Euronext, Xetra, BME, Borsa Italiana) is excellent, and reporting is unusually clean. For a buy-and-hold ETF investor in the EU who plans to hold whole units and doesn't care about a slick mobile experience, the math frequently comes out ahead of "free" brokers once FX and spread are accounted for.
Pros: Transparent flat fees, broad European market coverage, German/Dutch regulator, solid reporting. Cons: No fractional shares, no ISA, no interest on cash by default, UI feels dated.
4. Trade Republic
Regulator: BaFin (Germany). Best for: EU (especially German, French, Italian, Spanish) investors who want a clean mobile-first experience and automated savings plans.
Trade Republic has quietly become one of the largest brokers in continental Europe. Pricing is €1 per trade (or free for savings-plan executions), and the asset universe now includes stocks, ETFs, and derivatives. The savings-plan feature — schedule recurring buys into stocks, ETFs, or crypto with no commission — is the single most-used feature on the platform and is a strong fit for "set and forget" investors.
Pros: Clean mobile UX, free savings plans, broad ETF coverage, interest on cash. Cons: Single execution venue (LS Exchange / Lang & Schwarz), no ISA, fewer order types.
5. Lightyear
Regulator: FCA (UK), Estonian FSA (EU). Best for: Multi-currency investors who want transparent FX and a modern app.
Lightyear is a younger entrant but its pricing model is genuinely interesting: you hold balances in multiple currencies (USD, EUR, GBP), trade in the native currency of the stock, and convert only when you want to — at a published 0.35% FX rate that's transparent rather than buried in a spread. This is unusually friendly to investors who hold both US and European stocks.
The asset universe is narrower than IBKR or DEGIRO, but for a buy-and-hold equity/ETF investor it's more than enough.
Pros: Multi-currency accounts, transparent FX, interest on idle cash in multiple currencies, modern UX. Cons: Smaller universe than incumbents, no ISA at time of writing, no fractional shares on every market.
The honourable mentions
- XTB — Solid in CEE markets, generous interest on cash, but the headline "0% commission" applies only below a monthly turnover threshold.
- Saxo Bank — Excellent platform and market access, but pricing is geared toward higher account balances.
- Hargreaves Lansdown / AJ Bell — UK-only; pricier than Trading 212 but the go-to if you want ISA and SIPP under one roof with full UK customer service.
Total cost of ownership: a worked example
Headline commissions hide the real cost. For a UK investor putting £500/month into a US-listed ETF for a year (12 buys, £6,000 deployed, then a single £6,000 sell), the all-in cost looks roughly like:
| Broker | Commission | FX (round-trip) | Spread | Estimated 1-yr cost |
|---|---|---|---|---|
| Trading 212 | £0 | ~£18 | ~£6 | ~£24 |
| Interactive Brokers (Pro) | ~£14 | ~£3 | £0 | ~£17 |
| DEGIRO | ~£24 | ~£30 | ~£6 | ~£60 |
| Trade Republic | ~£11 | bundled (~£30) | ~£12 | ~£53 |
The takeaway: for small recurring USD trades from a non-USD base, IBKR and Trading 212 are clear winners — IBKR by FX, Trading 212 by zero commission. For pure home-currency ETF buys, Trade Republic and Trading 212 close the gap.
How to actually pick one
Three questions decide it for most people:
- Do you need an ISA or SIPP? If yes and you're in the UK, your shortlist collapses to Trading 212 (ISA), Hargreaves Lansdown or AJ Bell (ISA + SIPP), or IBKR UK for SIPP.
- Do you want fractional shares or recurring savings plans? If yes, Trading 212, Trade Republic, or Lightyear. If no and you care more about market depth, DEGIRO or IBKR.
- How much do you actually trade? Under one or two trades a month: zero-commission apps win on cost. More active: IBKR's per-share pricing and FX advantage compound quickly.
Tracking multiple brokers
The dirty secret of being an EU/UK investor is that most people end up with more than one broker — an ISA at one place, a taxable account at another, maybe a German Depot for tax-efficient ETF holdings. The fee comparison above tells you where to open the account; it doesn't tell you what your portfolio actually looks like once everything is added together.
That's where a separate portfolio tracker matters. PieFolio AI consolidates positions across every broker into a single view, calculates a Portfolio Health score, and lets AI generate a written analysis on top of your actual holdings.
Already picked a broker? Track every position, dividend, and fee across all of them in PieFolio AI — free on iOS and Android.
Frequently asked questions
Which broker has the lowest fees overall in Europe? For self-directed investors holding US stocks and ETFs, Interactive Brokers under the Pro tier typically has the lowest all-in cost once FX is included. Trading 212 and Trade Republic are cheaper headline-rate for single-currency, small-ticket trades.
Can I open more than one broker account? Yes, in every EU country and the UK. It's actually common — for example, an ISA at one broker and a taxable account at another. Just remember the ISA contribution limit is per-tax-year across all your ISA providers combined.
Is my money safe? All brokers listed here are regulated by a national EU/UK regulator and participate in an investor-compensation scheme (FSCS up to £85,000 in the UK; equivalents in EU countries up to €20,000–€100,000 depending on jurisdiction). Client assets are required to be segregated.
Do I need an EU residency to use a German broker? For Trade Republic and DEGIRO, yes — you typically need an address in a supported country. Trading 212 and IBKR are broader.
Where can I read the head-to-head comparison?
Nothing in this article is financial advice. We don't know your personal circumstances or tax situation. Brokers' terms, fees, and feature availability change frequently — always confirm details on the broker's own website before opening an account.
