Featured partnerSign up to Lightyear and get up to €100 in a free fractional shareCapital at risk, terms apply. Seek guidance if necessary. Claim Up to €100 Capital at risk, terms apply. Seek guidance if necessary. - Commission is only half the cost. The fee that quietly separates one commission-free ETF broker from another is the currency-conversion (FX) charge you pay when buying an ETF priced in another currency. We rank on total cost, not the headline.
- For most European investors, Trading 212 and Lightyear are the easiest low-cost start. Both offer commission-free ETF investing and automated plans, with currency-conversion fees among the lowest in the market (other fees may apply).
- Interactive Brokers wins on cost at scale. A small per-trade commission is offset by the tightest spreads and a currency-conversion fee a fraction of what app brokers charge, so it tends to get cheaper the more you invest.
- You will be buying UCITS ETFs, not US ones. EU and UK retail investors cannot buy US-domiciled ETFs such as VOO; the European UCITS versions (for example VWCE or IWDA) track the same indices.
Picking an ETF broker in Europe looks simple, because almost everyone now advertises commission-free investing. The catch is that commission is only one part of what you pay. The fee that quietly separates one broker from another is the currency-conversion charge you face whenever you buy an ETF priced in a different currency to your account, and on a long-term portfolio that small percentage adds up. Our compound interest calculator shows how much a portfolio can build over the years once you are invested.
We have used these platforms ourselves and checked every fee against each provider's official pricing pages. Below are the six brokers we think serve European ETF investors best, what each one does well, and the honest trade-offs. All figures were verified on 16 June 2026.
The best ETF brokers in Europe at a glance
Here is how the six compare on the costs that matter for ETF investing. We have flagged the standout on currency conversion, since that is where commission-free brokers differ most.
When investing, your capital is at risk and you may get back less than invested. Past performance doesn't guarantee future results. Capital at risk, terms apply. Seek guidance if necessary. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
*Commission-free or low-commission investing refers to dealing commission only. Other fees may apply, including currency conversion, fund manager fees and, for some brokers, a small spread or an above-threshold commission. FX is the currency-conversion fee on trades priced outside your account currency. Figures verified on 16 June 2026 against each provider's official pricing pages and can change.
Hidden costThe real cost of a "commission-free" ETF
When a broker says ETF investing is commission-free, it means there is no dealing commission. It does not mean free. If you buy an ETF priced in US dollars or pounds from a euro account, the broker converts your money and charges a currency-conversion fee on the way in, and often on the way out. That fee ranges from almost nothing to well over 1%, and you pay it every time you trade. For someone adding money every month, it can become the single biggest cost.
There are two ways to keep it low: choose a broker with a small conversion fee, or buy a euro-denominated UCITS ETF so there is no conversion at all. The chart below shows how far apart the brokers sit.
Interactive Brokers from 0.03% Lightyear (UK) 0.10% Trading 212 0.15% Lightyear (EU) 0.35% XTB 0.50% Revolut 0% to 1% (by plan) eToro 0.75% to 1.5% Interactive Brokers sits at one extreme, with a conversion fee that starts at a fraction of a basis point. eToro sits at the other, because its accounts are based in US dollars, so euro and pound investors convert on the way in. None of this makes a broker bad, but it should shape which one you pick for how you actually invest.
Best for commission-free ETFsTrading 212
Trading 212 is where a lot of European investors start, and for ETF investing it is hard to beat on simplicity. There is no dealing commission on stocks or ETFs (other fees may apply, see terms and fees), the currency-conversion fee is a low 0.15%, and you can build a Pie and let AutoInvest drip money into your ETFs on a schedule. Pies and AutoInvest are an execution-only service and not investment advice or portfolio management, so every decision stays with you.
You can invest from €1 in fractional shares, UK investors get a Stocks and Shares ISA and a Cash ISA, and there is interest on uninvested cash. Your investments are held by Trading 212 UK Ltd and covered by the FSCS up to £85,000, with EU clients under its CySEC-regulated entity and investor compensation up to €20,000. New clients who open an account through our link can claim a free fractional share worth up to €100 (higher-value shares are less common). Sponsored Link, terms apply. We go deeper in our look at whether Trading 212 is safe and our Trading 212 guide.
- Commission-free ETFs. No dealing commission on stocks or ETFs, with a low 0.15% currency-conversion fee (other fees may apply).
- Built for recurring investing. Pies and AutoInvest let you automate ETF contributions on a schedule (execution-only, you make the decisions).
- Fractional from €1. Buy a slice of any ETF, so you can start small and stay diversified.
- ISA and interest on cash. A Stocks and Shares ISA and Cash ISA for UK investors, plus interest on uninvested cash.
- Execution-only. No advice or managed rebalancing, which suits self-directed investors but not those who want hand-holding.
- FX on non-base trades. The 0.15% conversion fee applies on both the buy and the sell unless you hold the right currency.
- App-first. There is no full desktop trading terminal for power users.
Lightyear
Lightyear pairs one of the cleanest, most modern apps in this list with one of the lowest currency-conversion fees on the market. ETFs are free of execution and trading fees (fund manager fees and a currency-conversion fee apply), and that conversion fee is 0.10% for UK accounts and 0.35% for EU accounts. You can set up Plans and Ready-Made Plans to automate your ETF investing, buy fractionally, and UK investors get a flexible Stocks and Shares ISA and a Cash ISA.
Lightyear gives access to American and European ETFs, all in the UCITS form that EU and UK investors can buy. Lightyear Europe AS is regulated in Estonia with investor protection up to €20,000, and Lightyear U.K. Ltd is authorised by the FCA with FSCS cover up to £85,000. Our Lightyear review for EU investors covers the platform in more detail. See our Lightyear bonus guide for the current welcome offer. Capital at risk, terms apply.
Interactive Brokers
Interactive Brokers is the broker we personally use, and it is built for investors who care about cost and choice. Unlike the app brokers, it does charge a small commission on European ETFs, though a smaller one than you might expect: on its tiered pricing a UCITS ETF on the London Stock Exchange costs around €1.20 per trade, with US-listed shares free on the IBKR Lite plan. That small commission buys you two things the app brokers cannot match.
First, the spread. The spread is the small gap between the price to buy and the price to sell, and you pay it on every trade no matter who your broker is. Interactive Brokers routes your order across more than 170 markets to find the best available price and adds no markup of its own, so its spreads are among the tightest you will find. Second, the currency-conversion fee is tiny, starting from around 0.03%, a fraction of what app brokers charge. Together these mean the more you invest, the more Interactive Brokers tends to work out cheaper overall.
It also offers the widest choice here, with access to more than 170 markets across 40 countries and UCITS ETFs such as IWDA as a neutral example of what is available, no inactivity fee, and strong protection: EU clients sit under Interactive Brokers Ireland with investor compensation up to €20,000, assets held with the US affiliate are covered by SIPC up to $500,000, and UK clients have FSCS cover. The trade-off is complexity, since the platform has a learning curve and is less one-tap simple than an app. Our Interactive Brokers review and IBKR safety analysis go deeper.
Interactive BrokersTightest spreads and the lowest currency-conversion fee here Open an IBKR account eToro
eToro is the most recognisable name here and a genuinely easy place to buy ETFs, with 0% commission on ETFs (other fees apply, including currency conversion, see eToro's fees page). The honest catch for European investors is that currency cost. eToro accounts are based in US dollars, so when you fund in euros or pounds your money is converted, at 0.75% through a local-currency account or up to about 1.5% via card or bank transfer. That is higher than every app broker above, which is why we flag it openly: a commission-free ETF on eToro still carries a real currency cost. Opening a local-currency account in euros or pounds reduces it, and there is a $5 withdrawal fee on the US-dollar account.
On range, eToro added 250 UCITS ETFs in January 2026 and offers a broad UCITS line-up. eToro (Europe) Ltd is regulated by CySEC with investor compensation up to €20,000, and eToro (UK) Ltd by the FCA. eToro is a multi-asset platform that also offers higher-risk products, so read the risk warnings before you sign up. Our full eToro review has the detail.
eToroCommission-free ETFs, plus up to $500 in free assets for new clients Get Up to $500 in Free Assets XTB
XTB is a strong option for EU investors who want commission-free ETF investing with recurring plans. Real stock and ETF investing is commission-free up to €100,000 of trading per month, after which a 0.2% commission applies (minimum €10), a ceiling most regular investors will never reach. Its Investment Plans let you automate ETF contributions, commission-free within that same monthly turnover. The one number to watch is the currency-conversion fee of 0.5%, higher than Trading 212, Lightyear or Interactive Brokers, so EU investors buying dollar-priced ETFs pay more unless they stick to euro-denominated UCITS funds.
XTB offers more than 2,100 ETFs. EU clients contract with XTB S.A. in Poland, regulated by the KNF, with investor compensation up to about €22,000, and XTB has been expanding its UK investing range, including a Stocks and Shares ISA and a Cash ISA.
Best if you already use RevolutRevolut
If you already bank with Revolut, investing in ETFs from the same app is convenient. The cost depends heavily on your plan. Every plan includes a number of free trades each month (one on the free Standard plan, more on the paid tiers), after which trades cost 0.25% (minimum €1). Currency conversion is free up to a monthly allowance, then ranges from 0.5% to 1% depending on your plan, and the top tiers include unlimited free conversion. The ETF range is also the narrowest here, at roughly 150 UCITS ETFs, so it works as a starter rather than a home for a full core portfolio.
EU investing sits under Revolut Securities Europe UAB, regulated by the Bank of Lithuania with investor protection up to €22,000, and UK investors get a Stocks and Shares ISA with FSCS cover. Our Revolut trading review has the full breakdown.
Also worth knowingThree more names worth knowing
We have focused on the six platforms we work with and rate, but three other European brokers deserve a fair mention.
Trade Republic is one of the most popular homes for free, recurring ETF savings plans, and it pays interest on uninvested cash, although it is app-only and charges a small external settlement fee on one-off trades. Our Trade Republic review covers it. DEGIRO offers a free Core Selection of ETFs and is one of the cheapest ways to buy a broad range of funds, though a €1 handling fee per ETF trade and a €2.50 per-year connectivity fee for each non-Tradegate exchange you use are worth knowing about.
Mintos joins this section as an unranked new entrant. Its self-selected ETF product carries more than 1,000 UCITS ETFs with fractional orders from €1 and no Mintos buy or sell fee. Orders are market orders, routed through Tradegate Exchange. An investment plan for self-selected ETFs is listed as coming soon, so recurring contributions have to be placed manually for now. We have left Mintos out of the ranked positions above because the product is new and too lightly documented to compare fairly with the platforms ranked here. Readers who want the detail can work through our Mintos ETF review.
Buyer's guideHow to choose an ETF broker in Europe
Once you look past the marketing, four things decide the right broker for you.
Tax is the part no broker can simplify for you, because it depends on where you live. Germany has the Vorabpauschale, Ireland taxes ETFs under deemed disposal, Belgium has its own ETF taxes, and UK investors shelter ETFs in an ISA or pay capital gains and dividend tax outside one. This is general information, not tax advice, so check your local rules.
If you are still building the basics, our ETF investing guide for European investors, our walkthrough on how to invest in the S&P 500 from Europe and our guide to dollar-cost averaging are the natural next steps.
FAQFrequently asked questions
It depends on how you invest. For commission-free ETF investing with a low currency-conversion fee, Trading 212 and Lightyear are among the cheapest for regular investors. Interactive Brokers is usually cheapest overall once your amounts grow, thanks to a very low currency-conversion fee and tight spreads. Watch the FX fee, since that is where commission-free brokers differ most.
Generally no. Under EU PRIIPs rules, and similar rules in the UK, brokers cannot sell US-domiciled ETFs to retail investors because they do not publish a European key information document (KID). You buy the UCITS equivalent instead, for example VWCE, VUAA, CSPX or IWDA, which tracks the same index.
It depends on your country. Germany has the Vorabpauschale, Ireland taxes ETFs under deemed disposal, Belgium has its own ETF taxes, and the UK uses ISAs alongside capital gains and dividend tax outside one. This is general information, not tax advice, so check your local rules or a tax adviser.
Your ETFs are held separately from the broker’s own assets, and investor-compensation schemes add a backstop if something goes wrong: across the EU usually up to €20,000, and in the UK up to £85,000 for investments. These cover broker failure or shortfalls, not normal market losses.
Accumulating ETFs reinvest dividends automatically, which is simple for long-term growth. Distributing ETFs pay dividends to you as cash. The better choice depends on whether you want income now and on how your country taxes each type.
On a commission-free broker the currency-conversion fee is often the main cost. It ranges from about 0.03% at Interactive Brokers to 0.10% at Lightyear in the UK and 0.15% at Trading 212, 0.35% at Lightyear in the EU, 0.5% at XTB, and up to about 1.5% at eToro. You can usually avoid it by buying euro-denominated UCITS ETFs or holding the right currency.
Not entirely. There is usually no dealing commission, but you can still pay a currency-conversion fee, the ETF’s own fund manager fee (its ongoing charge), and sometimes a small spread. The dealing commission is simply the most visible cost.
For automated, recurring ETF investing, Trading 212 (Pies and AutoInvest) and Lightyear (Plans) are strong commission-free options, XTB has Investment Plans, and Trade Republic is popular for free ETF savings plans. Pick based on total cost and which markets you can use it from.
Trading 212: commission-free ETF investing, plus a free fractional share for new clients
Trading 212: When investing, your capital is at risk and you may get back less than invested. Past performance doesn't guarantee future results. Commission-free investing refers to no dealing commission; other fees may apply, see terms and fees, including a 0.15% currency-conversion fee. Pies and AutoInvest are an execution-only service, not investment advice or portfolio management; you are responsible for all investment and rebalancing decisions. To get free fractional shares worth up to €100, you can open an account through our link (higher-value shares are less common). Sponsored Link. Terms apply. This is not investment advice.
Lightyear: Capital at risk. Provider of the investment services is Lightyear Europe AS for the EU. Terms apply: https://lightyear.com/terms. Seek qualified advice if necessary. This is not investment advice. Lightyear U.K. Ltd is authorised and regulated by the Financial Conduct Authority (FRN 987226). ETFs are free of execution and trading fees; fund manager fees and a currency-conversion fee (0.10% in the UK, 0.35% in the EU) apply. Sponsored Link.
When investing, your capital is at risk. This page contains sponsored links to Interactive Brokers. EU Investing Hub may receive compensation if you follow these links, at no extra cost to you. The commercial relationship does not affect our editorial position or the verified facts in this content. This information is for educational purposes only and is not investment advice. Interactive Brokers provides execution and clearing services to its customers. Interactive Brokers makes no representation and assumes no liability to the accuracy or completeness of the information provided in this Influencer communication. None of the information contained herein constitutes a recommendation, offer, promotion, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Investing involves risks. Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro discloses that 51% of retail CFD accounts lose money when trading CFDs with them. ETFs are commission-free; other fees apply, including currency conversion. The welcome bonus is conditional, a minimum deposit and terms apply. Sponsored Link.
