DEGIRO vs Trade Republic vs Interactive Brokers: Which One to Choose in 2026

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Last updated: April 2026

If you invest from Europe, you have almost certainly come across DEGIRO, Trade Republic, and Interactive Brokers. They are the three most popular brokers among European investors, and each one takes a fundamentally different approach.

But precisely because they are so different, choosing the right one can be confusing. One offers the lowest stock trading fees. Another gives you free savings plans and a 2.75% APY interest rate on your cash. The third provides access to virtually every financial product on the planet.

In this comparison we will break down all three in depth: fees, available products, platform experience, regulation, and most importantly, who each broker is actually for. By the end you will have a clear picture of which one fits your investing style — or whether it makes sense to use more than one at the same time.

What Is the Difference Between DEGIRO, Trade Republic, and Interactive Brokers?

Before we dive into the details, here is a side-by-side overview of the key differences:

As you can see, there is no outright winner. Each broker dominates in different areas. Let us break each one down.

Is DEGIRO Worth It in 2026?

DEGIRO was founded in the Netherlands in 2013 with a clear pitch: give retail investors access to international markets at much lower fees than traditional European brokers. In 2020 it was acquired by flatexDEGIRO, a German financial group, which reinforces its stability.

What DEGIRO does well

Competitive fees on stocks and ETFs. DEGIRO's fee structure is straightforward and low. European stock trades cost around 1 EUR. US stock trades cost 1 EUR plus a small per-share commission. On top of that, DEGIRO maintains a Core Selection list of ETFs where you can execute one free trade per month per ETF (subject to conditions).

Access to many markets. This is one of DEGIRO's standout strengths. You can trade on more than 50 exchanges worldwide: Europe, the United States, Asia, and Australia. If you want to buy shares listed on the Tokyo, Hong Kong, or London exchanges, DEGIRO makes it easy.

Varied product range. Beyond stocks and ETFs, DEGIRO offers bonds, options, futures, and investment funds. It is not the deepest platform for derivatives (that title belongs to Interactive Brokers), but for an investor who wants to go beyond equities and ETFs, the offering is solid.

Functional web platform. DEGIRO's interface is not the prettiest, but it is clear, fast, and gets the job done. The mobile app has improved significantly in recent years and handles all the basics well.

Where DEGIRO falls short

No automated savings plans. Unlike Trade Republic, DEGIRO does not let you set up automatic recurring investments. You have to log in and execute each purchase manually. For anyone who wants to automate a monthly DCA (Dollar Cost Averaging) strategy, this is a significant drawback.

FX conversion fee. If you buy stocks denominated in USD, DEGIRO automatically charges a 0.25% currency conversion fee. You cannot hold a USD cash balance to avoid this cost. Over time, with frequent trades in non-EUR markets, that 0.25% adds up.

Limited order types and no pre/post-market access. DEGIRO does not offer access to extended-hours trading on US exchanges. The available order types are basic compared to Interactive Brokers.

No interest on cash. Your uninvested cash in DEGIRO earns nothing. In a world where Trade Republic pays a competitive rate on your balance, this is a clear disadvantage.

Tax reporting could be better. While DEGIRO generates an annual report, the information is not always laid out in the most convenient format for filing your tax return. You will likely need some manual work or an external tool to reconcile everything.

Safety and regulation

DEGIRO is regulated by BaFin (Germany) and the AFM (Netherlands). Your investments are held in a separate entity (SPV), which means that if DEGIRO were to go bankrupt, your assets would still belong to you. Cash deposits are covered by the German deposit guarantee scheme up to 100,000 EUR, and investments are protected up to 20,000 EUR under the investor compensation scheme.

DEGIRO has been operating for over a decade and manages millions of accounts across Europe, giving it a solid track record of reliability.

Who DEGIRO is for

DEGIRO is ideal if you want to buy stocks and ETFs across international markets at low commissions, without needing automated recurring investments. It is a reliable broker for the investor who trades occasionally, wants broad access to global exchanges, and does not require advanced trading tools.

If you execute 5 to 15 trades per month across different markets, DEGIRO probably gives you the best value for money.

Is Trade Republic the Best Broker for Investing in 2026?

Trade Republic is a German broker founded in 2015 that has grown at a remarkable pace. Its proposition is simple: an ultra-clean platform, minimal commissions, and free automated savings plans. On top of that, it offers a cash interest rate that competes with many traditional savings accounts.

What Trade Republic does well

Free savings plans. This is arguably Trade Republic's biggest advantage. You can set up automatic weekly, bi-weekly, or monthly investments in thousands of stocks and ETFs, paying zero commissions. If your strategy is to invest 200 EUR every month into a global ETF on autopilot, Trade Republic is very hard to beat.

2.75% APY interest on cash. Trade Republic pays 2.75% APY on your uninvested balance (as of April 2026), up to a cap of 50,000 EUR. The rate adjusts with ECB decisions. This makes it one of the best options for keeping your emergency fund working while you decide what to invest in.

Fractional shares. You can buy fractions of shares starting from 1 EUR. Want to invest in Amazon but a single share costs over 150 EUR? With Trade Republic you can buy 10 EUR worth without any problem. This dramatically lowers the barrier to building a diversified portfolio.

Beautiful interface. Trade Republic's app is one of the best-designed in the industry. Everything is intuitive, clean, and fast. If you have ever navigated the interface of a traditional broker, you will appreciate the difference immediately.

Accessible bonds. Trade Republic was among the first to offer government bonds starting from 1 EUR, allowing retail investors to diversify into fixed income without needing large amounts of capital.

Integrated crypto. You can buy and sell more than 50 cryptocurrencies directly from the app, without needing a separate exchange. It is not the cheapest option for crypto (the spread is noticeable), but the convenience is there.

Where Trade Republic falls short

Limited market access. Compared to DEGIRO or Interactive Brokers, Trade Republic offers access to fewer international markets. The available stocks are mainly from major European and US exchanges. If you want to buy shares on Asian or frontier markets, you will not be able to.

Hidden spread. Although the explicit commission is only 1 EUR per trade, Trade Republic routes orders through a single exchange (Lang & Schwarz). This means the spread (the gap between the buy and sell price) can be wider than on exchanges with more liquidity, especially outside core European trading hours. On larger orders, this difference can be meaningful.

No derivatives. No options, no futures. If you want to trade these instruments, Trade Republic is not for you.

Basic web platform. While Trade Republic has launched a web version, the experience is still better on the mobile app. The desktop interface is functional but limited compared to platforms like Interactive Brokers.

Minimal analysis tools. Do not expect advanced charts, screeners, or technical analysis tools. Trade Republic is built for buying and holding, not for analysing.

Safety and regulation

Trade Republic is regulated by BaFin in Germany and operates as a fully licensed securities institution. Since 2023, Trade Republic holds its own banking licence, which means your cash is protected by the German deposit guarantee scheme up to 100,000 EUR. Your securities are held in segregated custody, so they are not affected if Trade Republic experiences financial difficulties.

Having its own banking licence is an important step that sets Trade Republic apart from many neobrokers that rely on partner banks to hold their clients' money.

Who Trade Republic is for

Trade Republic is perfect for the passive investor who wants to automate a monthly investment and not worry about anything else. If your strategy is to put X euros per month into a global ETF and forget about it, Trade Republic is probably your best option. The cash interest rate is a very attractive bonus for money waiting to be invested.

It is also excellent for beginners: the interface is so simple that it reduces the barrier to entry to almost nothing.

Is Interactive Brokers Worth It for European Investors?

Interactive Brokers (IBKR) is an American broker founded in 1978 that has become the benchmark for serious investors worldwide. It has the widest product range, the lowest fees in certain segments, and the most advanced tools. But all of that comes with a considerable learning curve.

What Interactive Brokers does well

Access to everything. Stocks, ETFs, bonds, options, futures, forex, funds, warrants, CFDs, precious metals — across more than 150 markets in 33 countries. If a financial product exists and trades on a regulated exchange, you can almost certainly trade it on Interactive Brokers.

The lowest FX conversion fees. At just 0.002% per currency conversion (with a minimum of 2 USD), IBKR is incomparably cheaper than DEGIRO (0.25%) or Trade Republic (spread built into the price) for foreign exchange. If you regularly trade in non-EUR markets, this translates into enormous savings over time.

Multi-currency cash balances. Unlike DEGIRO, Interactive Brokers lets you hold cash in USD, GBP, CHF, or any other currency without converting. This gives you full control over when to exchange and helps you avoid unnecessary costs.

Professional-grade tools. Trader Workstation (TWS) is a desktop platform with advanced charts, screeners, alerts, algorithmic trading capabilities, options analytics (strategy builder, volatility lab), and much more. For active investors and traders, there is nothing comparable in the retail brokerage space.

Advanced account types. IBKR offers margin accounts, corporate accounts, joint accounts, and more. The flexibility is unmatched.

Interest on cash. Interactive Brokers pays interest on your uninvested balance once it exceeds a certain threshold, at competitive rates tied to benchmark rates.

Securities lending. If you hold large positions, you can earn extra income by allowing IBKR to lend your shares to other investors. This is a passive income stream that the other two brokers do not offer.

Where Interactive Brokers falls short

Steep learning curve. The TWS platform is powerful, but overwhelming for beginners. Even the simplified web version (Client Portal) takes some getting used to. If you have never used an online broker before, IBKR is not where you want to start.

Dated interface. While TWS is highly functional, the visual design looks like it belongs to a different era. The mobile app has improved, but it still cannot compete with Trade Republic's user experience. IBKR prioritises functionality over aesthetics, and it shows.

Overkill for passive investors. If your strategy is to buy one ETF per month and not look at the screen for 30 years, Interactive Brokers is like using a fighter jet to go grocery shopping. It works, but you do not need it.

Limited savings plans. Although IBKR has introduced recurring investment functionality, it is not as polished or comprehensive as Trade Republic's offering. Not all instruments are available for automatic plans.

Complex initial setup. Opening an account at IBKR requires more documentation and more steps than the other two brokers. Market permissions are configured individually, which can be confusing at first.

Safety and regulation

Interactive Brokers is regulated by multiple authorities around the world. For European clients, the relevant entity is typically Interactive Brokers Ireland, regulated by the Central Bank of Ireland. Your assets are segregated in separate accounts, and you are covered by the Irish investor compensation scheme up to 20,000 EUR.

Additionally, IBKR is a publicly traded company (NASDAQ: IBKR) with decades of history and an extremely strong balance sheet. It is arguably the most financially solid broker of the three, with capital reserves that far exceed regulatory requirements.

Who Interactive Brokers is for

Interactive Brokers is for the experienced investor who wants complete access to global markets with the best possible terms. If you trade options, futures, multiple currencies, or simply have a large portfolio and want the most competitive commissions, IBKR is your broker.

It is also the best choice for international investors who need access to markets beyond the usual EU and US circuit, or who manage portfolios in several currencies and want to minimise conversion costs.

DEGIRO or Trade Republic? Or Interactive Brokers? Which One Based on Your Profile

With all this information, let us simplify things. Choose based on what matters most to you:

If you want passive investing with automated savings plans → Trade Republic. Free savings plans, a simple interface, and a cash interest rate make it the ideal choice for the investor who wants to automate and forget.

If you want to buy stocks and ETFs across many markets at low fees → DEGIRO. Access to over 50 exchanges with competitive commissions makes DEGIRO the best option for those who trade across international markets without needing advanced tools.

If you want the widest product range and professional tools → Interactive Brokers. For options, futures, forex, exotic markets, or simply the most comprehensive analysis tools, IBKR has no rival.

If you want the best FX conversion rate → Interactive Brokers. At 0.002% versus DEGIRO's 0.25%, there is no contest. If you trade frequently in USD or GBP, this alone can justify the switch.

If you are a beginner and want to start investing → Trade Republic. The barrier to entry is the lowest, the interface is the most intuitive, and you can start with 1 EUR.

If you want to trade options or futures → Interactive Brokers. It is the only one of the three that offers a complete derivatives experience. DEGIRO has options but with fewer markets and tools.

If you want interest on your cash → Trade Republic or Interactive Brokers. Both pay interest on uninvested balances. Trade Republic is simpler; IBKR may offer better rates for larger balances.

If you have a large portfolio (over 100K EUR) → Interactive Brokers. Commissions scale better, interest rates on cash are more attractive, and the risk management tools are superior.

Can You Use Two Brokers at the Same Time? The Multi-Broker Strategy

A question many people ask: can (or should) you use more than one broker at the same time?

The short answer is yes. In fact, many experienced European investors combine two or even three brokers to take advantage of each one's strengths. Some common combinations:

• Trade Republic + DEGIRO: automated savings plans on Trade Republic for the passive core portfolio, and DEGIRO for occasional trades on international markets.
• Trade Republic + Interactive Brokers: Trade Republic for day-to-day simplicity and savings plans, Interactive Brokers for options, futures, or access to unconventional markets.
• DEGIRO + Interactive Brokers: DEGIRO for low-cost European stock trades, IBKR for everything else (options, forex, Asian markets).

The reasons for using more than one broker include:

• Risk diversification. Although all three brokers are regulated and your assets are protected (up to 100,000 EUR in deposits, 20,000 EUR in securities under the investor compensation scheme), spreading your assets across multiple institutions reduces counterparty risk.
• Access to complementary products. None of the three has everything. By combining them, you cover more ground.
• Fee optimisation. You can pick the cheapest broker for each type of trade.

The Problem with Multiple Brokers

The obvious downside of using more than one broker is that your information becomes fragmented. Each platform only shows you what you hold there, and you lose the big picture of your portfolio:

• What is your real asset allocation combining all three brokers?
• What is your total return, not just each broker's individual performance?
• How much have you earned in dividends across all accounts?
• What is your actual net worth including everything?

This is where an independent portfolio tracker comes in.

Consolidate Your Portfolio with arfin

arfin is designed for exactly this use case. You can import your data from DEGIRO, Trade Republic, and Interactive Brokers and see everything in a single dashboard:

• Consolidated portfolio with total value, asset allocation, and combined performance
• Net worth history over time
• Dividends hub that aggregates all your income regardless of which broker it came from
• FIRE calculator that uses your real data to project when you could reach financial independence
• Portfolio analytics with metrics like TWR, IRR, and exposure by sector, country, and currency

Instead of jumping between three different apps to piece together how your investments are doing, you have it all in one place. And prices update automatically, so you never have to do anything manually.

Final Verdict

There is no universally "best broker." The right choice depends on how you invest, what products you need, and how much complexity you are willing to handle.

Choose DEGIRO if you want low commissions, access to many international markets, and do not need automated savings plans. It is a solid, proven broker for the investor who trades actively but does not require professional-grade trading tools.

Choose Trade Republic if you want the simplest experience possible: free savings plans, a beautiful app, cash interest, and the ability to start with 1 EUR. It is the ideal broker for beginners and for anyone who wants to automate their passive investing strategy.

Choose Interactive Brokers if you need access to everything: options, futures, global markets, multiple currencies with the lowest conversion fees. It is the broker for serious investors with large portfolios or advanced needs.

And remember: you do not have to pick just one. Many investors use two or three brokers at the same time to get the best of each world.

Take the Next Step

Ready to get started?

And if you use more than one, try arfin to consolidate all your portfolios in a single dashboard. Import your data, see your complete net worth, and stop jumping between apps to figure out how your investments are doing.

Frequently Asked Questions

What is the cheapest broker for buying ETFs in Europe?

For one-off purchases, DEGIRO offers the lowest commissions: 1 EUR per trade on European stocks and a Core Selection of ETFs with one free trade per month. However, if you invest on a recurring schedule (monthly DCA), Trade Republic is cheaper because its savings plans are completely free — 0 EUR commission.

Is it safe to invest with Trade Republic, DEGIRO, or Interactive Brokers?

All three brokers are regulated by European financial authorities. DEGIRO and Trade Republic are supervised by BaFin in Germany. Interactive Brokers operates under the Central Bank of Ireland. Cash deposits are protected up to 100,000 EUR by the deposit guarantee scheme, and securities are held in segregated custody separate from the broker's own assets.

Can I transfer my portfolio from one broker to another?

Yes, all three brokers support portfolio transfers, though the process varies. Trade Republic and DEGIRO accept incoming transfers of stocks and ETFs. Interactive Brokers has the most flexible process, accepting partial or complete transfers. The process typically takes between 1 and 4 weeks depending on the originating broker.

Which broker has the best mobile app?

Trade Republic has the best-designed and most intuitive app. It is ideal for investors who primarily trade from their phone. DEGIRO's app is functional but less polished. Interactive Brokers has a powerful app (IBKR Mobile) but with a steeper learning curve.

DEGIRO or Trade Republic for European investing in 2026?

It depends on your strategy. If you want to automate monthly investments (DCA) in ETFs and benefit from a cash interest account, choose Trade Republic. If you need access to more international markets (Asia, Australia, emerging markets) and prefer making one-off trades, choose DEGIRO. Many European investors use both: Trade Republic for the passive core portfolio and DEGIRO for occasional trades.

Which broker is best for large portfolios over 100,000 EUR?

Interactive Brokers scales best for large portfolios. It offers the lowest FX conversion fees (0.002%), competitive interest on large cash balances, portfolio margin accounts, and securities lending for additional income. The professional-grade risk management and reporting tools are also more suitable for managing significant wealth.

Related reading

• Trade Republic Review 2026: A Complete Analysis for European Investors
• Scalable Capital Review 2026: The European Broker You Might Be Missing