⏱️ 30 min read · 5,835 words · Updated Jun 15, 2026

Let me be honest with you. If you’ve been Googling around for a neobroker comparison Europe has no shortage of, you’ve probably landed on the same five affiliate-laden listicles telling you that every platform is “great” and “user-friendly” and “perfect for beginners.” None of those articles actually help you decide.

“They read like they were written by someone who gets a commission for every signup.”

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So this is different. I’ve spent a ridiculous amount of time using, testing, and comparing these platforms across multiple European countries. Some of them surprised me. A couple disappointed me. One genuinely changed how I think about investing in Europe. This article is the neobroker comparison Europe actually needs in 2024, with real numbers, real frustrations, and a few opinions you won’t find in the standard comparison tables.

And before anyone asks, no, I’m not getting paid by any of these companies. I’m just tired of seeing people pick a neobroker based on a YouTube ad and then wonder why their tax reporting is a nightmare or why they can’t find a single ETF with a savings plan.

What Even Is a Neobroker, and Why Europe Makes This Complicated – neobroker comparison Europe

A neobroker is a digital-first brokerage platform. That’s the simple definition, and it’s not wrong, but it also doesn’t tell you much. What it means in practice is that you get an app, you deposit money, you buy stocks or ETFs, and you do it all without calling anyone or visiting a branch. The experience is designed to feel as easy as ordering food on your phone.

But here’s where it gets messy. Europe isn’t one market. It’s a patchwork of regulations, tax regimes, and investor protections that vary wildly from country to country. A neobroker that works beautifully in Germany might be nearly useless in France. One that’s fully licensed in the Netherlands might not even operate in Italy. The European Securities and Markets Authority (ESMA) sets some baseline rules, but the implementation is left to national regulators, and they don’t all agree on much.

This means that any honest neobroker comparison Europe requires has to account for where you actually live. Not just your nationality, but your tax residency. Because that determines which platforms you can access, how your gains are taxed, and whether your Broker even reports to your local tax authority.

I’ll try to cover as many countries as I can, but I’ll be upfront: Germany, the Netherlands, Austria, and France get the most attention here because that’s where the most neobroker activity is happening. If you’re in Portugal or Greece, some of these platforms won’t be available to you, and I’ll note that when it matters.

The Platforms That Actually Matter in 2024 – neobroker comparison Europe

There are dozens of neobrokers operating in Europe right now. Most of them aren’t worth your time. They have clunky apps, limited product ranges, or fee structures that make no sense for retail investors. So I’m focusing on the ones that have earned their place in this neobroker comparison Europe guide: TradeRepublic, Scalable Capital, DEGIRO, Trading 212, eToro, and Interactive Brokers.

Each of these serves a slightly different type of investor, and I’ll get into that. But the quick version is this: TradeRepublic is the savings-plan king for German investors. Scalable Capital is the ETF-focused platform with a surprisingly good banking layer. DEGIRO is the low-cost option for people who want access to a ton of international markets. Trading 212 is the zero-commission wildcard. eToro is the social trading platform that’s popular but has some real drawbacks. And Interactive Brokers is the professional-grade tool that most beginners will find overwhelming.

Let me walk through each one.

TradeRepublic: The Savings Plan Champion

If you live in Germany and you want to set up an ETF savings plan, TradeRepublic is almost certainly the first name you’ll hear. And for good reason. The platform lets you invest in over 9,000 ETFs and stocks with savings plan execution at just 1 euro per trade. There’s no account management fee, no custody fee, and the app is genuinely clean.

But let’s talk about what TradeRepublic doesn’t emphasize. Its product range for individual stocks is limited compared to what DEGIRO or Interactive Brokers offer. If you want to buy individual US tech stocks, you can. If you want to buy a small-cap stock listed on the Oslo exchange, you probably can’t. The platform is built for ETF investors, and everything else feels like an afterthought.

The other thing worth mentioning is that TradeRepublic makes money through what’s called payment for order flow. When you place a trade, your order isn’t always sent directly to a public exchange. It’s routed through a market maker, and TradeRepublic gets a small payment for that. This is legal, it’s disclosed, and it’s common among neobrokers. But it does mean your execution price might not always be the absolute best available. For most retail investors buying ETFs in small amounts, the difference is negligible. For someone trading larger positions frequently, it’s something to think about.

TradeRepublic is available in Germany, Austria, France, Spain, Italy, and a handful of other European countries. The experience is consistent across markets, though the specific ETFs available in your savings plan can vary.

“TradeRepublic isn’t the most feature-rich neobroker in Europe, but for German investors who want a dead-simple ETF savings plan, nothing else comes close.”

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Scalable Capital: The ETF Platform With a Banking Brain

Scalable Capital started as a robo-advisor and has evolved into something more interesting. It’s now a full neobroker with its own banking license, which means your cash deposits are protected under German deposit insurance up to 100,000 euros. That’s not nothing, especially if you keep a large cash balance waiting to be invested.

The platform offers two pricing models. The free version gives you access to a curated selection of ETFs with no commission on trades, though you’ll pay a small spread. The Prime and Prime+ tiers cost 2.99 and 4.99 euros per month respectively and give you tighter spreads, access to more products, and a few extra features like extended trading hours.

What sets Scalable Capital apart in this neobroker comparison Europe context is the quality of its ETF selection. The platform has done the work of screening funds for cost, tracking error, and fund size. You won’t find every ETF in existence, but the ones available are generally solid choices. Their savings plan execution is also competitive at 1 euro per trade for the free tier.

The banking integration is genuinely useful. You get a German IBAN, a debit card, and the ability to set up direct deposits. It’s not a full replacement for a traditional bank account, but it’s close enough that some people use it as their primary account. I know a couple of people who do this, and they seem happy with it, though I’d still keep a traditional bank account for things like mortgage payments and employer deposits.

Scalable Capital is available in Germany, Austria, France, Spain, Italy, and the Netherlands. The product range is fairly consistent, though the specific ETFs in the savings plan can differ by country.

DEGIRO: The International Market Access Play

DEGIRO is the neobroker for people who want to buy stocks on exchanges that most European platforms don’t touch. We’re talking about the Warsaw Stock Exchange, the Oslo exchange, the Australian Securities Exchange, and a bunch of others. If you’re the kind of investor who wants to build a globally diversified portfolio with individual stocks, DEGIRO is hard to beat on access.

The fee structure is a bit unusual. DEGIRO charges a connectivity fee per exchange per year, which is 2.50 euros for most European exchanges and higher for some international ones. On top of that, you pay a small commission per trade, which varies by product type and exchange. For US stocks, it’s around 2 euros per trade plus a small currency conversion fee. For European ETFs, many are available with no commission at all through their “core selection” list.

Here’s where I have to push back on something you’ll see in a lot of neobroker comparison Europe articles. DEGIRO is often described as the cheapest option in Europe. That’s not exactly true. It’s cheap for certain types of trades, particularly international stock purchases. But if you’re primarily buying European ETFs, TradeRepublic and Scalable Capital are just as cheap or cheaper, and they offer a better overall experience.

DEGIRO’s app has improved a lot over the past couple of years, but it still feels more like a trading platform than an investing app. The interface is functional but not intuitive. If you’re new to investing, you’ll probably find it confusing at first. There’s no savings plan feature, which is a significant limitation if you’re trying to build a long-term portfolio through regular contributions.

DEGIRO is available across most of Europe, though the specific product range and fees can vary by country. Dutch investors get the best deal, which makes sense since DEGIRO is a Dutch company.

Trading 212: The Zero-Commission Question Mark

Trading 212 markets itself as a zero-commission broker, and on the surface, that sounds amazing. You can buy and sell stocks and ETFs without paying a per-trade fee. The platform also offers fractional shares, which means you can invest in expensive stocks like Amazon or Berkshire Hathaway with just a few euros.

But zero commission doesn’t mean zero cost. Trading 212 makes money through the spread, which is the difference between the buy and sell price of an asset. This spread is typically small for major stocks and ETFs, but it’s there, and it’s not always transparent. You won’t see it listed as a fee, but you’re paying it every time you trade.

The platform also offers a savings plan feature, which is relatively new and still limited in scope. The selection of ETFs available for regular investing is smaller than what TradeRepublic or Scalable Capital offer, and the execution isn’t as smooth. I’ve heard from a few users that their scheduled investments occasionally fail to execute on the expected date, which is frustrating when you’re trying to automate your investing.

Trading 212 is regulated by the FCA in the UK and the FSC in Bulgaria. It’s available across most of Europe, though the specific features and product range can vary. The app is polished and easy to use, which makes it popular with beginners. But I’d caution against choosing a broker solely because the app looks nice. The underlying execution quality and product range matter more over time.

One more thing. Trading 212 had a brief moment of controversy in 2021 when it restricted trading on certain stocks during the GameStop saga. That’s not unique to them, plenty of brokers did the same thing, but it’s worth remembering if you’re the kind of investor who wants full control over your trades.

eToro: Social Trading Isn’t What You Think

eToro is the neobroker that most people have heard of, largely because of its aggressive marketing. The platform’s main selling point is social trading, which lets you copy the trades of other users. You can browse a leaderboard of traders, see their performance history, and automatically replicate their portfolio.

Sounds great in theory. In practice, it’s a mixed bag. The traders at the top of the leaderboard are often there because they took on enormous risk. A trader who made 300% returns in a year probably did it by concentrating their portfolio in a few volatile assets. When the market turns, those same traders can lose just as fast. Copying them means you’re copying that risk, and most people don’t realize it until it’s too late.

eToro’s fee structure is also worth scrutinizing. There’s no commission on stock trades, but the spreads are wider than what you’d find on DEGIRO or Interactive Brokers. There’s a 5 dollar withdrawal fee, which adds up if you’re moving money in and out frequently. And there’s a 1 dollar fee for each copied trade, which sounds small but compounds over time.

The platform does offer a decent range of assets, including stocks, ETFs, cryptocurrencies, and CFDs. But CFDs are a different animal entirely. They’re leveraged products that can amplify your losses, and ESMA regulations limit the leverage available to retail investors. If you’re not careful, you might end up trading CFDs without fully understanding the risk.

eToro is available across most of Europe and is regulated by multiple authorities, including CySEC in Cyprus and the FCA in the UK. It’s a legitimate platform, but I think it’s overrated for long-term investors. If you want to build a diversified ETF portfolio and hold it for years, there are better options in this neobroker comparison Europe guide.

Interactive Brokers: The Professional Tool Most People Don’t Need

Interactive Brokers is the heavyweight in this comparison. It’s a US-based broker with a global presence, and it offers access to markets in over 150 countries. The product range is enormous: stocks, options, futures, forex, bonds, mutual funds, and more. If it trades somewhere in the world, you can probably buy it through Interactive Brokers.

The fee structure is complex but competitive for active traders. There’s a tiered pricing model where the commission per trade decreases as your volume increases. For most retail investors, you’re looking at around 1 to 3 euros per trade for European stocks, with lower rates for US stocks. There’s also a monthly inactivity fee if your commissions don’t meet a minimum threshold, though this has been reduced in recent years.

The platform’s interface, called Trader Workstation, is powerful but intimidating. It’s designed for professional traders, and it shows. The learning curve is steep, and the mobile app, while improved, still feels clunky compared to TradeRepublic or Trading 212. If you’re a beginner, you’ll probably spend your first week just figuring out how to place a basic order.

Interactive Brokers does offer a lighter version called IBKR Lite, which has a simpler interface and zero-commission trading on US stocks. But IBKR Lite isn’t available to European residents. If you’re in Europe, you’re using the full platform, for better or worse.

The tax reporting is excellent, though. Interactive Brokers provides detailed reports that make it relatively straightforward to file your taxes in most European countries. This is a bigger deal than people realize. I’ve spoken to investors who switched to Interactive Brokers specifically because their previous broker’s tax documents were unusable.

Interactive Brokers is available across Europe and is regulated by multiple authorities. It’s the right choice for experienced traders who need access to international markets and don’t mind a complex interface. For everyone else, it’s probably overkill.

The Comparison Table You Actually Need

Here’s where I put my money where my mouth is. This table covers the key factors that matter for most European investors. I’ve focused on the platforms that are most relevant for long-term ETF investing, since that’s what the majority of people reading this are probably doing.

A few notes on this table. The “commission per Trade” row reflects the standard fee for a single ETF or stock purchase. Some platforms have additional costs like currency conversion fees or spreads that aren’t captured here. The “tax reporting quality” row is based on my experience and feedback from other investors. It’s subjective, but it matters more than most comparison tables let on.

Also, I want to be clear about something. This table is a starting point, not a final answer. Your specific situation, your country, your investment goals, and your tax situation all matter. A neobroker comparison Europe guide can give you the facts, but you have to make the decision.

What Most Neobroker Comparisons Get Wrong

I’ve read dozens of these comparison articles, and they all make the same mistakes. The biggest one is treating fees as the only thing that matters. Yes, fees eat into your returns over time. That’s basic math. But the difference between a 1 euro commission and a 0 euro commission on a 500 euro trade is 0.2%. Over a year of monthly investments, that’s maybe 10 to 20 euros. Not nothing, but not the difference between a comfortable retirement and poverty.

What actually matters more is whether the platform helps you invest consistently. A savings plan that executes reliably every month is worth more than saving 1 euro per trade on a platform where you forget to invest because the app is confusing. Tax reporting that doesn’t make you want to scream is worth more than a slightly lower spread. Customer support that responds within a day is worth more than access to the Warsaw Stock Exchange.

The other thing most comparisons get wrong is the country-specific angle. A lot of these articles are written as if Europe is one homogeneous market. It’s not. German investors have access to different ETFs than French investors. Dutch investors get different fee structures than Spanish investors. The tax treatment of your investments depends on where you live, and your broker’s ability to handle that varies.

I’ll give you a specific example. In Germany, neobrokers are required to withhold capital gains tax (Abgeltungssteuer) automatically. This is actually a good thing for most investors because it means you don’t have to calculate and pay the tax yourself. TradeRepublic and Scalable Capital handle this well. DEGIRO’s handling of German tax has been a source of frustration for some users, particularly around the Vorpauschale, the minimum tax on unrealized gains that was introduced in 2022. It’s not that DEGIRO doesn’t comply, it’s that their reporting around it has been confusing.

In France, the situation is different. The Prélèvement Forfaitaire Unique (PFU) applies to capital gains, and not all neobrokers handle French tax reporting equally well. TradeRepublic has made improvements here, but it’s still not as seamless as the German experience.

My Honest Take on Which Neobroker to Choose

If you’re a German investor who wants to set up an ETF savings plan and forget about it, TradeRepublic is the answer. It’s not the most feature-rich platform, but it does the one thing most people need better than anyone else. The app is clean, the savings plans work, and the tax handling is solid.

If you want a bit more flexibility and don’t mind paying a small monthly fee, Scalable Capital is the better choice. The banking integration is a genuine differentiator, and the ETF curation saves you from having to research hundreds of funds yourself.

If you’re an active trader who wants access to international markets, DEGIRO or Interactive Brokers are your best options. DEGIRO is simpler and cheaper for most people. Interactive Brokers is more powerful but harder to use.

If you’re a complete beginner who just wants to dip your toes in, Trading 212 is fine. The zero-commission model is appealing, and the app is easy to navigate. Just be aware of the spread costs and don’t expect the same level of tax support as TradeRepublic or Scalable Capital.

And eToro? I’d skip it for long-term investing. The social trading feature is fun to play with, but it’s not a strategy. If you want to copy other traders, at least understand what you’re copying and why.

“The best neobroker isn’t the one with the lowest fees. It’s the one that helps you invest consistently, reports your taxes correctly, and doesn’t make you dread opening the app.”

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The Tax Thing Nobody Wants to Talk About

Taxes are boring. I get it. But if you ignore the tax implications of your neobroker choice, you’re going to have a bad time. Not immediately, maybe not even for a few years. But when tax season rolls around and your broker’s reporting is incomplete or confusing, you’ll wish you’d paid more attention.

In most European countries, capital gains from stocks and ETFs are taxed at a flat rate. In Germany, it’s 25% plus solidarity surcharge and possibly church tax, bringing the effective rate to around 26.375%. In France, the PFU is 30%. In the Netherlands, there’s no capital gains tax on investments held in a regular brokerage account, but there is a wealth tax on your total assets above a threshold. Each country is different, and your broker’s ability to handle these differences varies.

The best neobrokers for tax purposes are the ones that automatically withhold the correct amount and provide clear, accurate annual tax reports. TradeRepublic does this well for German and Austrian residents. Scalable Capital is also solid in this regard. Interactive Brokers provides detailed reports that you can use for any country, but you’ll need to do more of the calculation yourself.

DEGIRO’s tax reporting has been a pain point for some users, particularly in Germany. The platform provides the necessary documents, but they’re not always easy to interpret. If you’re not comfortable with tax terminology, you might need to hire a tax advisor, which adds cost.

Trading 212 and eToro are somewhere in the middle. They provide tax documents, but the quality and clarity aren’t always what you’d hope for. If you’re in a country with complex tax rules, you might find yourself doing extra work to file correctly.

Here’s my advice. Before you sign up for any neobroker, check whether they provide tax reports in a format that’s compatible with your country’s requirements. A quick search in a local investing forum or subreddit will usually tell you what you need to know. This is the kind of due diligence that separates people who have a smooth investing experience from people who spend hours on the phone with their tax office.

What About Safety and Regulation?

This is a question that comes up a lot, and the answer is reassuring for the most part. All the platforms in this neobroker comparison Europe guide are regulated by reputable authorities. TradeRepublic is regulated by BaFin in Germany. Scalable Capital holds a German banking license and is also regulated by BaFin. DEGIRO is regulated by the AFM in the Netherlands and the DNB. Trading 212 is regulated by the FCA in the UK and the FSC in Bulgaria. eToro is regulated by CySEC, the FCA, and ASIC. Interactive Brokers is regulated by the SEC in the US and multiple European authorities.

What this means in practice is that your investments are protected up to certain limits if the broker goes bankrupt. In the EU, the investor compensation scheme typically covers up to 20,000 euros per person per firm. Some countries have higher limits. Germany, for example, has deposit protection of 100,000 euros for cash held at a bank, which applies to Scalable Capital because of its banking license.

But here’s the thing that people get confused about. Investor compensation doesn’t protect you from market losses. If your ETF drops 30% because the stock market crashes, that’s not the broker’s fault, and you won’t get compensated. The compensation scheme only kicks in if the broker itself fails and your assets are missing or misappropriated.

The other safety consideration is where your assets are held. Most neobrokers hold your securities in a segregated account, meaning they’re kept separate from the broker’s own assets. If the broker goes under, your investments should still be there. This is standard practice, but it’s worth confirming with your specific platform.

One more point. Some neobrokers lend out your shares to short sellers, which is a common practice in the industry. This is generally safe, but it does introduce a small amount of counterparty risk. If you’re uncomfortable with this, check your broker’s policy on securities lending. Interactive Brokers, for example, has a program that pays you a portion of the lending income, which is actually a benefit if you’re holding large positions.

Country-Specific Notes You Won’t Find Elsewhere

Because this is a neobroker comparison Europe guide, I want to call out a few country-specific quirks that might affect your decision.

In Austria, the tax situation is similar to Germany, and TradeRepublic and Scalable Capital both handle Austrian tax well. DEGIRO is also popular, though the tax reporting requires a bit more manual work.

In France, the PEA (Plan d’Épargne en Actions) is a tax-advantaged account that allows you to invest in European stocks and ETFs with favorable tax treatment after five years. Not all neobrokers offer a PEA. TradeRepublic does, which is a significant advantage for French investors. Scalable Capital also offers a PEA. DEGIRO does not, which limits its appeal in France for long-term investors.

In the Netherlands, the wealth tax situation makes low-fee investing even more important, since you’re taxed on your total assets regardless of whether you’ve realized any gains. DEGIRO is popular here, partly because of its Dutch origins and partly because of the low fees. Interactive Brokers is also a strong choice for Dutch investors who want international market access.

In Spain, the tax treatment of capital gains is progressive, ranging from 19% to 28% depending on the amount. TradeRepublic and Scalable Capital are both available and handle Spanish tax reporting, though the experience isn’t as polished as in Germany.

In Italy, the capital gains tax rate is 26%, and neobrokers are required to withhold it automatically. TradeRepublic operates in Italy and handles the tax withholding. DEGIRO is also available, though the Italian product range is more limited.

If you’re in a smaller European market, like Portugal, Greece, or the Baltic states, your options are more limited. TradeRepublic and DEGIRO are available in most of these countries, but the product range and tax support may not be as comprehensive. It’s worth checking the specific platform’s website for your country before getting your hopes up.

The Hidden Costs That Catch People Off Guard

Fees are the obvious cost, but there are a few hidden ones that can eat into your returns if you’re not careful.

Currency conversion is the big one. If you’re buying US-listed ETFs or stocks, you’re probably paying in euros, and your broker needs to convert that to dollars. The conversion fee varies by platform. TradeRepublic charges 0.25% on currency conversion, which is reasonable. DEGIRO’s conversion fee is 0.25% as well. Interactive Brokers charges a tiered fee that can be as low as 0.02% for large conversions, which is excellent for active traders. Trading 212 and eToro don’t explicitly charge a conversion fee, but they build the cost into the spread, which is harder to quantify.

Overnight fees apply if you’re trading on margin or using leveraged products. Most long-term ETF investors won’t encounter this, but if you’re using CFDs or trading with borrowed money, the overnight fees can add up fast. eToro and Trading 212 both offer CFD products, so be aware of this if you’re tempted to use them.

Inactivity fees are another potential cost. Interactive Brokers charges a monthly inactivity fee if your commissions don’t meet a minimum threshold, which is 10 euros per month for European residents. This has been reduced from previous levels, but it’s still something to watch if you’re a buy-and-hold investor who only trades a few times a year.

Withdrawal fees are less common than they used to be, but eToro still charges 5 dollars per withdrawal. Most other platforms in this comparison offer free withdrawals, though there may be minimum amounts or processing times to consider.

And then there’s the cost of bad execution. This is the hardest to measure, but it’s real. If your broker routes your orders to a market maker and you get a slightly worse price than you would on a public exchange, that’s a cost. It’s usually small, fractions of a percent, but over hundreds of trades, it adds up. This is where payment for order flow becomes relevant. TradeRepublic, Trading 212, and eToro all use payment for order flow to some extent. DEGIRO and Interactive Brokers send orders directly to exchanges, which generally results in better execution.

What I’d Do If I Were Starting From Scratch

If I were opening a brokerage account today in Europe, here’s exactly what I’d do. I’d pick one primary neobroker for my long-term ETF savings plan and stick with it. I wouldn’t spread my investments across multiple platforms just to “diversify my brokers.” That’s not diversification, that’s administrative overhead.

For most people reading this, that primary broker should be TradeRepublic if you’re in Germany or Austria, or Scalable Capital if you want the banking integration. If you’re in France and you want a PEA, TradeRepublic or Scalable Capital are your best bets. If you’re in the Netherlands and you want low fees with international access, DEGIRO is a solid choice.

I’d set up a monthly savings plan with a broad-market ETF, something like the MSCI World or FTSE All-World, and I’d automate it. The exact ETF doesn’t matter as much as the consistency. A savings plan that executes every month without you having to think about it is worth more than trying to time the market or chase the hottest fund.

And I’d keep my expectations realistic. A neobroker is a tool. It doesn’t make you a better investor. It doesn’t protect you from market downturns. It just makes it easier to buy and sell assets. The hard part, the part that actually determines your long-term returns, is staying invested through the bad years and not panicking when the market drops 20%.

FAQ

Which neobroker has the lowest fees in Europe?

It depends on what you’re buying and where you live. For ETF savings plans in Germany, TradeRepublic charges 1 euro per trade, which is hard to beat. DEGIRO offers zero-commission trading on many European ETFs, but charges connectivity fees for certain exchanges. Trading 212 and eToro advertise zero commissions, but they make money through spreads, which are a cost even if they’re not labeled as a fee. For the lowest overall cost on international trades, Interactive Brokers is competitive, especially for larger volumes.

Is TradeRepublic available outside Germany?

Yes. TradeRepublic is available in Austria, France, Spain, Italy, and several other European countries. The core experience is similar across markets, though the specific ETFs available in your savings plan and the tax handling can vary by country. German residents still get the most polished experience, but the gap has narrowed significantly.

Can I have accounts with multiple neobrokers?

You can, and some people do. There’s no rule against it. But for most investors, having one primary broker is simpler and easier to manage. Multiple accounts mean multiple tax reports, multiple logins, and more complexity when you’re trying to track your overall portfolio. If you have a specific reason to use two platforms, like wanting a PEA at one broker and international access at another, that can make sense. Otherwise, one is enough.

How do neobrokers handle taxes in Europe?

It varies by platform and country. In Germany and Austria, most neobrokers automatically withhold capital gains tax and provide annual tax reports. In France, brokers that offer a PEA handle the tax-advantaged treatment automatically. In the Netherlands, brokers don’t withhold capital gains tax because the Dutch system works differently, but they provide reports you can use for your tax return. The quality of tax reporting varies, so check reviews from investors in your specific country before choosing a platform.

Are neobrokers safe to use?

The neobrokers in this comparison are all regulated by reputable financial authorities in Europe. Your investments are generally protected by investor compensation schemes up to certain limits, typically 20,000 euros. Cash deposits at platforms with a banking license, like Scalable Capital, are protected by deposit insurance up to 100,000 euros in Germany. The main risk isn’t the broker going bankrupt, it’s market risk, the possibility that your investments lose value because the market goes down.

Which neobroker is best for beginners?

TradeRepublic and Trading 212 are the most beginner-friendly options in terms of app design and ease of use. TradeRepublic is better if you want a straightforward savings plan experience. Trading 212 is better if you want to experiment with fractional shares and a wider range of assets. Scalable Capital is also beginner-friendly but offers more features that might be overwhelming at first. I’d avoid Interactive Brokers as a beginner. It’s powerful but complex, and you’ll spend more time learning the platform than actually investing.

Do I need a neobroker, or should I use my bank?

In almost every case, a neobroker is better than a traditional bank for investing. Banks typically charge higher fees, offer a smaller selection of ETFs and stocks, and provide worse digital experiences. The only reason to use your bank is if you value having everything in one place and don’t mind paying more for it. Some banks in Germany, like ING, offer decent ETF savings plans with low fees, but even then, dedicated neobrokers usually provide a better overall experience.

Sources – neobroker comparison Europe

• BaFin (German Federal Financial Supervisory Authority)
• AMF (French Financial Markets Authority)
• European Securities and Markets Authority (ESMA)

Conclusion

If you’ve made it this far, you now know more about neobrokers in Europe than most people who write about them. The key takeaway from this neobroker comparison Europe guide is that there’s no single best platform. There’s only the best platform for you, based on where you live, what you want to invest in, and how much complexity you’re willing to tolerate.

Here’s what I’d suggest you do next. First, figure out your country’s tax requirements for capital gains and dividend income. This will narrow your options significantly. Second, decide whether you want a savings plan or whether you’re going to be an active trader. Most people should want a savings plan. Third, pick one platform from this comparison, open an account, and set up a monthly investment. Don’t overthink it. The difference between the best neobroker and the second-best neobroker is tiny compared to the difference between investing consistently and not investing at all.

And if you’re still not sure, start with TradeRepublic if you’re in Germany or Austria, or Scalable Capital if you want the banking features. You can always switch later. The hardest part isn’t choosing the right broker. It’s getting started.