Online Brokers In Europe 2022 – Comparison & Reviews

Retail trading in Europe has surged in recent years, creating a vast range of online brokers. This wealth of choice means selecting the right broker can be a difficult task. In this guide, we help investors navigate the top online brokers in Europe, highlighting the key factors to consider when choosing between platforms.

Online Brokers In Europe

  1. OANDA offers 70 forex pairs with two competitive pricing models and a substantial welcome deposit bonus

    OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.

    Instruments
    Forex
    Regulator
    CFTC, NFA
    Platforms
    MT4
    Min. Deposit
    $0
    Min. Trade
    $0
    Leverage
    1:30 EU, 1:200 Global
  2. Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.

    Instruments
    CFD, Forex, Stocks, Crypto, Futures, Options, Commodities
    Regulator
    CySEC, IIROC, NFA, CFTC, FCA, CIMA
    Platforms
    MT4
    Min. Deposit
    $100
    Min. Trade
    $1
    Leverage
    1:200
  3. NinjaTrader offer investors futures and forex trading. Use auto-trade algorithmic strategies and configure your own platform while trading with the lowest costs.

    Instruments
    Forex, Stocks, Crypto, Futures, Options, Commodities
    Regulator
    NFA, CFTC
    Platforms
    Own
    Min. Deposit
    $50
    Min. Trade
    Varies by asset
    Leverage
    -
  4. The leading US trading Exchange. Nadex offer genuine exchange trading to global clients on Binary Options. Fully regulated by the CFTC.

    Instruments
    Binary Options, Knock Outs™, Call Spreads
    Regulator
    CFTC
    Platforms
    Own
    Min. Deposit
    $250
    Min. Trade
    $1
    Leverage
    -
  5. Quotex offers a proprietary web platform that has digital options and trading signals.

    Instruments
    Digital Options
    Regulator
    -
    Platforms
    Own
    Min. Deposit
    $10
    Min. Trade
    $1
    Leverage
    -
  6. IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.

    Forex trading involves risk. Losses can exceed deposits

    Instruments
    Forex, ETFs, CFDs, indices, shares, commodities, cryptocurrencies, options, futures, spread betting
    Regulator
    FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin
    Platforms
    MT4
    Min. Deposit
    £250
    Min. Trade
    0.1 lots
    Leverage
    1:30
  7. Pocket Option is a global binary options broker with a sleek proprietary trading platform and competitive range of assets.

    Instruments
    Stocks, Crypto, Commodities
    Regulator
    IFMRRC
    Platforms
    MT5
    Min. Deposit
    $50
    Min. Trade
    $1
    Leverage
    -
  8. Moomoo is an app-based stock broker that offers trading in US, Hong Kong and Chinese shares. Clients can get started with a sign-up bonus and $0 minimum deposit.

    Instruments
    Stocks, Options, ETFs, ADRs, OTCs
    Regulator
    SEC, FINRA, MAS
    Platforms
    Own
    Min. Deposit
    $0
    Min. Trade
    No minimum
    Leverage
    -
  9. M1 Finance offers customizable and automated trading services for US investors.

    Instruments
    Stocks, ETFs, OTC stocks
    Regulator
    FINRA, SEC
    Platforms
    Own
    Min. Deposit
    $100 ($500 for IRA)
    Min. Trade
    $1
    Leverage
    -
  10. Trading in the Uphold environment offers a one-stop-shop for all your crypto requirements.

    Instruments
    Cryptos, Precious Metals, US Stocks, Environmental Assets
    Regulator
    FCA, FinCEN
    Platforms
    Own
    Min. Deposit
    $0
    Min. Trade
    $1
    Leverage
    -
  11. Pionex is a cryptocurrency exchange with impressive automated trading tools and bots.

    Instruments
    Cryptos
    Regulator
    FinCEN
    Platforms
    Own
    Min. Deposit
    $0
    Min. Trade
    0.1 USDT
    Leverage
    -
  12. Paxful is a crypto trading exchange and digital wallet offering low fees and easy sign-up.

    Instruments
    Cryptos
    Regulator
    -
    Platforms
    Own
    Min. Deposit
    From 0.005 BTC
    Min. Trade
    10 USD
    Leverage
    -
  13. AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.

    Instruments
    Forex, CFDs, indices, cryptocurrencies, commodities and stocks
    Regulator
    HCMC (Greece), FSCA (South Africa)
    Platforms
    MT4, MT5
    Min. Deposit
    $10
    Min. Trade
    0.01 lots
    Leverage
    1:30 EU, 1:500 Global
  14. Kraken is a top-rated cryptocurrency trading exchange offering the largest tokens and altcoins by market cap.

    Instruments
    Cryptos
    Regulator
    FCA, FinCEN, FINTRAC, AUSTRAC, FSA
    Platforms
    AlgoTrader
    Min. Deposit
    $10
    Min. Trade
    Varies upon the crypto traded
    Leverage
    -
  15. Binance is one of the leading online crypto exchanges offering Bitcoin.

    Instruments
    Cryptos
    Regulator
    FCA
    Platforms
    AlgoTrader
    Min. Deposit
    $0
    Min. Trade
    $10
    Leverage
    -
  16. Nexo is a crypto platform with a range of blockchain-based solutions, including trading, lending, borrowing, and payment cards.

    Instruments
    Cryptos
    Regulator
    ASIC, FCEN
    Platforms
    Own
    Min. Deposit
    $10
    Min. Trade
    $30
    Leverage
    -
  17. Gemini is a leading crypto trading exchange with low fees and 100+ cryptocurrency and altcoins.

    Instruments
    Cryptos
    Regulator
    NYDFS, MAS, FCA
    Platforms
    AlgoTrader
    Min. Deposit
    $0
    Min. Trade
    0.00001 BTC
    Leverage
    -
  18. Revolut is a popular financial app that also offers trading on equities and digital currencies.

    Instruments
    Stocks, Cryptos
    Regulator
    FINRA, SEC
    Platforms
    Own
    Min. Deposit
    $0
    Min. Trade
    $1
    Leverage
    -
  19. World Forex offers commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.

    Instruments
    Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
    Regulator
    SVGFSA
    Platforms
    MT4, MT5
    Min. Deposit
    $1
    Min. Trade
    0.01 Lots
    Leverage
    1:1000
  20. Firstrade is a US-headquartered discount broker-dealer. With welcome bonuses, powerful tools and apps, plus commission-free trading, Firstrade Securities is a popular online brokerage.

    Instruments
    Stocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed
    Regulator
    SEC, FINRA
    Platforms
    Own
    Min. Deposit
    $0
    Min. Trade
    $1
    Leverage
    -
  21. Zacks Trade is a US based brokerage, built for the active trader. Trade stocks, ETFs, bonds, mutual funds and more on a proprietary trading platform.

    Instruments
    Stocks, Crypto, Options
    Regulator
    FINRA
    Platforms
    Own
    Min. Deposit
    $2500
    Min. Trade
    $3
    Leverage
    -
  22. Coinmama is a popular cryptocurrency trading exchange, aimed at beginners and high-net worth investors.

    Instruments
    Cryptos
    Regulator
    FinCEN, FINTRAC
    Platforms
    Own
    Min. Deposit
    $30
    Min. Trade
    $30 to buy, $100 to sell
    Leverage
    -
  23. IB Boast a huge market share of global trading. With a minimum deposit of $10,000 however, they remain an option for larger traders only.

    Instruments
    CFD, Forex, Stocks, Crypto, Futures, Options, Commodities
    Regulator
    SEC, FCA, IIROC, SFC
    Platforms
    AlgoTrader, OmniTrader
    Min. Deposit
    $10000
    Min. Trade
    $100
    Leverage
    1:50
  24. One of the largest discount brokers in the US, with a fixed trading commission and access to a large array of trading products and securities.

    Instruments
    Forex, Stocks, Crypto, Futures, Options, Commodities
    Regulator
    SEC, FINRA, CFTC
    Platforms
    Own
    Min. Deposit
    $0
    Min. Trade
    None
    Leverage
    -
  25. eToro is a multi-asset platform which offers both investing in stocks and cryptoassets. Crypto Trading is offered via eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply.79% of retail CFD accounts lose money.

    79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    Instruments
    Crypto
    Regulator
    FCA, CySEC, ASIC, FSA
    Platforms
    Own
    Min. Deposit
    $10
    Min. Trade
    $10
    Leverage
    None
  26. InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, energies, indices, and more. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading.

    Instruments
    Forex, shares, indices, metals, oil and gas, futures, cryptos, binary options
    Regulator
    BVI FSC
    Platforms
    MT4, MT5
    Min. Deposit
    $/€1
    Min. Trade
    0.01 Lots
    Leverage
    1:1000
  27. Webull offers a popular online stock trading app with low fees and generous bonuses.

    Instruments
    Stocks, ETFs, options, cryptos, forex, ADRs, fractional shares, OTCs
    Regulator
    SEC, FINRA
    Platforms
    Own
    Min. Deposit
    $0
    Min. Trade
    $5
    Leverage
    -

How To Compare Online Brokers In Europe

With a population of over 700 million, Europe is one of the biggest trading markets in the world. Plus, in recent times, increased time at home has meant that more traders are looking to explore trading the markets. This increased demand has meant the pool of online brokers in Europe has broadened.

Finding the right online broker is more important than ever with so many options in the market. But it’s not just about choosing the right asset at the right price, there are many other factors to consider. We’ve listed the top things to look out for below.

Assets & Markets

European Stocks

Nearly every country in Europe has a stock exchange. Five of these are considered major and have a market capitalization of over $1 trillion. European stock exchanges make up two of the top 10 major global stock markets.

Europe’s largest stock exchange is Euronext; connecting seven economies based in Amsterdam, Brussels, Dublin, Lisbon, London, Oslo, and Paris with the 1,870 companies listed.

The London Stock Exchange (LSE) is the second-largest in Europe, listing around 2,000 companies.

Both exchanges have the same trading hours and are open from 8 AM to 4:30 PM (GMT) Monday to Friday.

Cryptocurrency

Within the EU, crypto assets are classified as qualified financial instruments (QFIs) and are therefore are legal to trade.

Exchanges that deal in QFIs are regulated at a regional level. Firms that hold a QFI licence are permitted to sell cryptocurrency-related products.

Online brokers in Europe must comply with EU legislation to obtain this licence.

Retail traders within the UK are also restricted from trading cryptocurrencies via CFDs.

Forex

The London trading session accounts for around 35% of the total average forex turnover globally.

During this session, currency pairs including EUR/USD and GBP/USD are traded with tighter spreads due to the high market liquidity.

Every country has its own regulator, but European law allows firms to operate financial services within any country in the EU as long as they are regulated by at least one European authority.

The EU legislation that governs these bodies is known as MiFID.

Commodities

The majority of online commodity trading in Europe takes place in either spot markets or futures markets.

The most recognised commodity exchange in Europe is the Intercontinental Exchange (ICE), an electronic commodity exchange with no physical trading floor.

Many of the top online brokers in Europe will offer futures and commodity trading. Popular assets include gold, silver, crude oil and brent oil.

Indices

Well-known indices from Europe include the FTSE 100 (UK), the Euro Stoxx (Europe), and the DAX 40 (Germany). The best online brokers in Europe will offer the ability to trade CFDs or ETFs on at least one of these.

Tools & Platforms

Successful trading requires top execution speeds, real-time data and convenient charting and analysis tools.

Pepperstone and eToro and DEGIRO are considered some of the best online stock brokers in Europe for their platform features. Both provide simple navigation and comprehensive analysis tools.

They also offer mobile app compatibility with the full suite trading features available on desktop and web browser. Trading in Europe

Fees

The best online brokers in Europe will be transparent about their fee structure.

Since these can vary between platforms dramatically, it’s vital that traders shop around to be confident the fees being promoted are competitive in the market.

Fees generally come in the form of commissions (per trade) or spreads (mark-up). The top online brokers in Europe for commission-free trading include:

  • Degiro – Offering one commission-free ETF trade per month, regardless of size. After that, international ETF trading costs €2 plus 0.03% of the order value. Stock trading charges vary but investment on the London Stock Exchange is charged at £1.75 plus 0.022%
  • XTB – Commission-free stocks and ETF trades in selected European countries. CFDs on stocks and ETFs are charged from 0.08% per lot
  • eToro – EU investors can benefit from zero commissions on stocks and ETF trading. Commodities, crypto, forex, and indices are offered at competitive spreads

Other charges to consider are inactivity fees, account maintenance, plus withdrawal and deposit fees. Sometimes there are third-party costs passed on to clients from the broker. These could include exchange access fees, bank transfer fees and currency conversion fees.

Leverage

The European Securities and Markets Authority (ESMA) introduced industry-wide limits on leverage for spread betting, forex, and CFD products offered to retail clients in 2018. The maximum leverage by asset is listed below.

  • 1:30 for major currency pairs
  • 1:20 for non-major currency pairs, gold and major indices
  • 1:10 for commodities other than gold and non-major equity indices
  • 1:5 for individual equities
  • 1:2 for cryptocurrencies

Demo Account

The majority of the best online brokers in Europe offer demo accounts. These are a great way to navigate platform features, practise day trading strategies and understand available assets.

You can access virtual funds in simulated live market conditions. The majority of the top online brokers in Europe offer these, including XTB, eToro, and IG.

Regulation

Regulated brokers are governed by rules that aim to protect retail traders. Although not mandatory, it is highly recommended to select online brokers in Europe that comply with regulations.

Unregulated stock brokers in Europe could mean a lack of trader protection, financial harm, plus poor customer and platform services. Traders can verify a broker’s licence number on the respective financial authority database.

The European Securities and Markets Authority (ESMA) is an independent European Union financial regulatory body.

The main functions of the authorisation are to encourage information transparency, promote efficient and stable financial markets, and to safeguard retail traders. This is an established body formulating guidelines for the trading brokers in Europe since 2001. The ESMA authority provides:

  • Supervision – Directly overseeing financial bodies and trade repositories
  • Standardisation – Sharing best practices and improving efficiencies
  • Rules – Providing a rulebook for EU financial markets, aiming to create equal opportunities for investors and EU bodies by advising on legislation and developing technical standards
  • Risk –  Managing investor hazards, including market stability. Anticipatory action can be taken to avoid problems that threaten these

The Markets in Financial Instruments Directive (MiFID) is a European regulation that increases transparency across the European Union’s financial markets and standardises regulation requirements for firms operating in the area. It has been functioning since 2007.

MiFID sets only basic requirements so regulator restrictions can vary between countries. Some countries, such as Bulgaria and Malta, only meet the basic requirements while others, including the United Kingdom and Switzerland, operate above these.

However, transparency, segregation of funds, and investor compensation rules are all mandatory.

Some examples of MiFID protections include the restriction of bonuses and promotions to retail traders and the mandatory provision of negative balance protection on margin accounts.

This stringent financial regulation creates a safe environment for those who invest with an EU-based broker.

ESMA Logo

Specific Regulators

Above we have described regulation that applies to brokers in Europe. In the EU, if a financial services firm is regulated by a European authority that applies MiFID, they can practice in any member state.

This is no longer the case for the UK, which since Brexit, sits outside of the the EU. In this section, we explore the most common regulators and their respective countries.

The Financial Conduct Authority (FCA) – The UK

The FCA was established in 2013 to protect UK consumers, enhance the integrity of the British financial system, and serve the interests of clients by encouraging healthy competition between financial services companies.

FCA regulation is mandatory for online brokers in Europe selling their services to UK clients. The FCA will ensure that those offering investments can make sensible decisions in their clients’ interests and will also be held accountable for their actions.

However, this is not the same for cryptocurrencies. Even if they hold FCA regulation, crypto exchanges will not be held accountable for fluctuations in the value of assets and the loss this can cause.

The Cyprus Securities and Exchange Commission (CySEC) – The EU

The CySEC was launched in 2001 and is the largest regulator of forex and binary options brokers in the world. Its main responsibilities are to supervise brokers and distribute licenses to platforms while protecting customers.

The CySEC promotes freedom of trading, allowing retail traders to implement various strategies, such as using high leverage and hedging.

Customer Support

Customer support is vital when reviewing online brokers in Europe. Common issues include platform installation problems, account opening queries, or deposit and withdrawal issues. The best online brokers in Europe offer 24/7 multilingual customer support methods, including email, live chatbots and telephone.

Security

It’s also important to consider the security of an online broker in Europe before investing, particularly with regard to payments, personal data and account privacy. A broker’s years of service can also be a good gauge for safety, indicating the maturity of services and operations.

Plus, online brokers in Europe that are recognised by a top-tier regulator (such as the CySEC and FCA) should provide sufficient levels of security protection. Look out for PC and mobile data encryption, payment method protection, and 2-factor authentication (2FA).

Trading Taxes In Europe

It is a trader’s responsibility to file their own taxes based on investment activity. The amount owed varies by European country, averaging around 19.5%. Denmark levies the highest tax of all European countries at 42%.

A withholding tax is deducted from any bank interest and income from bonds earned by European residents on investments made in other member countries.

This applies to 28 European member states including Spain, Germany, Greece, and France. This ensures residents of one country do not evade tax by depositing funds outside the jurisdiction.

The majority of European countries comply with the EU Savings Directive, disclosing account holder names and earned interest. The EU withholding tax is not applicable on trading returns, dividends from shares or profits realised on investments.

Note, this information should not be taken as tax advice. Consult an expert to find out more about paying tax on your earnings.

Final Word; Online Brokers In Europe

Online brokers in Europe tend to provide a reliable and secure trading environment for retail traders thanks to the stringent regulation and guidelines.

We’ve listed some of the key factors when choosing the best online brokers in Europe. Consider which assets you want to trade first and in what volume, as this could impact your search and limit your choices.

FAQs

Which Assets Can Be Traded With Online Brokers In Europe?

The most popular day trading markets include forex, commodities, stocks, futures, and cryptocurrencies. Products such as CFDs and ETFs are also common.

Who Regulates Online Brokers In Europe?

The European Securities and Markets Authority (ESMA) is an independent European Union financial regulatory body. Its main aims are to promote information transparency, efficient and stable financial markets, and to safeguard retail traders.

What Are The ESMA Maximum Leverage Limits For Online Brokers In Europe?

All online brokers in Europe are subject to ESMA leverage caps. These were introduced to protect retail investors from undue risk and include a maximum leverage rate of 1:30 for major currency pairs, 1:20 for major indices, and 1:2 for cryptocurrencies.

Do Online Brokers In Europe Offer Paper Trading?

Yes, the best online brokers in Europe offer demo accounts. These are a good way to understand platform navigation, access real-time market simulation, and practise trading strategies with virtual funds before opening a live account.

What Are The Main Features To Review When Choosing Online Brokers In Europe?

Retail clients should consider the following: fees, regulation, market access, security, customer support, and tools. It’s important to evaluate which factors you require based on your personal trading volume, assets, and investing style.