DEGIRO vs Trading 212 (2026):
Manual broker vs app-first automation
Both target European investors, but the workflow is different. DEGIRO is closer to a classic broker — manual buys, 5,000+ ETFs, 50+ exchanges. Trading 212 is app-first — fractional shares, AutoInvest Pies, zero commission. Same goal, different route.
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TL;DR
Consistency beats micro-optimising. Pick the broker you’ll actually use every month.
- You want a traditional broker workflow — manual buys, limit orders, more exchange access.
- You need access to 50+ exchanges and 5,000+ ETFs, including niche products.
- You’re fine placing orders manually each month and don’t need fractional shares.
- You want a banking-backed broker with €100,000 cash deposit protection.
- You want the simplest app UX and zero-commission ETF investing.
- You invest small amounts and want fractional shares from €1.
- You value automation (AutoInvest Pies, recurring contributions) over manual control.
- You want to earn interest on uninvested cash in your brokerage account.
Quick comparison
| Category | DEGIRO | Trading 212 |
|---|---|---|
| ETF commission | €1 handling fee (Core Selection on Tradegate); €3 total on other ETFs | €0 commission |
| FX conversion | 0.25% (auto-conversion) | 0.15% (Invest account) |
| Connectivity fee | €2.50/year per non-home exchange | None |
| Fractional shares | Not available for ETFs | Yes, from €1 |
| Recurring investing | Not available (manual only) | AutoInvest Pies (fully automated) |
| ETFs available | 5,000+ across 50+ exchanges | ~2,800 across 16 exchanges |
| Interest on cash | None | Yes (rate varies, credited daily) |
| Regulator (EU clients) | BaFin (Germany) + AFM/DNB (NL) | CySEC (Cyprus) |
| Investor protection | €20,000 (assets) + €100,000 (cash) | €20,000 (ICF) + €1M Lloyd’s insurance |
| Multi-currency account | No (auto-converts) | Yes (13 currencies) |
| Deposit fee | Free | Free (bank); 0.7% above €2,000 via card/e-wallet |
| Company structure | Publicly traded bank (flatexDEGIRO, XETRA) | Private company, no banking license |
How “commission-free” actually gets paid
Ignore the headline marketing. For long-term ETF investors, real drag comes from FX costs, spreads, and missed contributions — not commissions.
- Core Selection ETFs: €0 commission + €1 handling fee per trade (must use Tradegate exchange).
- Other ETFs: €2 commission + €1 handling = €3 per trade.
- Fair Use Policy: first trade per ETF per month is commission-free if same direction and ≥€1,000.
- Connectivity: €2.50/year per non-home exchange.
- FX: 0.25% auto-conversion markup.
- Interest on cash: none.
- ETF commission: €0 on all stocks and ETFs (Invest account).
- FX conversion: 0.15% on the interbank rate — avoidable with multi-currency account.
- Connectivity: none.
- Deposit: free via bank transfer. 0.7% fee above €2,000 via card or e-wallet.
- Interest on cash: yes, credited daily (rate varies).
- Hidden cost: spread and execution quality, especially on illiquid ETFs.
Both brokers list VWCE in EUR — no FX conversion needed. Here’s what one monthly buy costs:
- DEGIRO (Core Selection): €1 handling fee. No FX cost. Annual cost: ~€12.
- Trading 212: €0 commission. No FX cost (EUR-denominated). Annual cost: €0 in explicit fees (spread cost varies by execution).
- Key difference: DEGIRO requires whole shares — a €300 deposit may leave cash idle. Trading 212 fractional shares deploy the full €300.
FX and currency conversion
Many Europeans fund in EUR but buy assets priced in USD or GBP. FX conversion is a recurring cost that compounds over decades — the markup, frequency, and whether it’s avoidable all determine your outcome.
- Auto-conversion: 0.25% markup applied automatically when you buy/sell in a non-base currency.
- Manual conversion: €10 flat + 0.25% — rarely worth it for small amounts.
- Workaround: buy EUR-denominated UCITS ETFs (e.g., VWCE on Euronext Amsterdam) to avoid FX entirely.
- Invest account: 0.15% on the interbank rate — lower than DEGIRO’s 0.25%.
- Multi-currency account: hold balances in 13 currencies. No FX fee if you deposit in the ETF’s currency.
- Dividends too: the 0.15% fee applies to every dividend paid in a different currency.
ETF selection and exchange access
If you’re investing in a simple UCITS portfolio (VWCE, CSPX, IWDA), both brokers have you covered. The difference matters when you need niche products, specific exchanges, or broader market access.
- 5,000+ ETFs across 50+ exchanges worldwide.
- Major European exchanges (Euronext, XETRA, LSE, SIX) plus US, Asian, and smaller European markets.
- Core Selection: ~200 popular ETFs with reduced fees on Tradegate.
- Also offers: bonds, mutual funds, options, futures — broader product range.
- ~2,800 ETFs across 16 stock exchanges.
- Focused on the most popular UCITS and US ETFs — covers mainstream needs well.
- All ETFs available for fractional investing and AutoInvest Pies.
- No bonds, mutual funds, options, or futures — stocks, ETFs, crypto, and CFDs only.
Automation: the real separator
If your plan is “€X every month into ETFs”, the broker that makes it painless tends to win in real life — because the months you skip cost more than any fee difference.
- No automated investing. You must log in, deposit, and place orders manually each time.
- No fractional ETF shares — leftover cash accumulates until the next deposit.
- Good if you like control and won’t skip months.
- Tip: batch 2–3 months of savings into one larger buy to reduce the €1–€3 fee per trade.
- AutoInvest Pies: set a target allocation, choose a schedule (weekly, biweekly, monthly), and it buys automatically.
- Fractional shares deploy every euro — no cash drag.
- Pies can be customised or cloned from community-shared portfolios.
- If preventing missed months saves you even one skipped contribution, it likely outweighs any fee difference.
Regulation and safety
Both brokers are regulated by reputable European authorities and segregate client assets. The details differ in ways that matter.
- Regulated by: BaFin (Germany), AFM and DNB (Netherlands), ECB oversight.
- Legal entity: flatexDEGIRO Bank AG — publicly traded (XETRA: FTK), banking license.
- Asset protection: German Investor Compensation Scheme — up to 90% of non-returned assets, max €20,000.
- Cash protection: up to €100,000 under the German Deposit Guarantee Scheme.
- Note: BaFin fined flatexDEGIRO €1.05M in 2023 for risk management shortcomings. Issues have since been addressed.
- Regulated by: CySEC (Cyprus) for EU clients, FCA (UK), BaFin (Germany), ASIC (Australia).
- Legal entity: Trading 212 Markets Ltd — private company, no banking license for EU clients.
- Asset protection: assets held with BNY Mellon and JP Morgan. Cypriot ICF covers €20,000.
- Extra insurance: Lloyd’s of London policy up to €1,000,000 for EU clients.
- Cash protection: no separate deposit guarantee for EU clients (no banking license).
Account types
- Basic account (default): DEGIRO may lend your securities to other parties. Lower fees as a result.
- Custody account: no securities lending. Higher dividend processing fee (€1 + 3% of dividend).
- No ISA, SIPP, or tax-wrapper accounts for EU investors.
- Products: stocks, ETFs, bonds, mutual funds, options, futures, warrants.
- Invest account: commission-free stocks and ETFs. Fractional shares. AutoInvest Pies.
- ISA account (UK only): tax-free wrapper, same features. £20,000 annual limit.
- CFD account: separate leveraged account — not relevant for long-term ETF investors.
- Products: stocks, ETFs, crypto, CFDs. No bonds, mutual funds, options, or futures.
Who each broker fits
- Want broader exchange access for niche ETFs or non-ETF products.
- Prefer a banking-backed broker with €100,000 cash protection.
- Are comfortable placing monthly orders manually and won’t skip months.
- Invest larger lump sums where fractional share rounding matters less.
- Want the simplest recurring setup — set once, leave it running.
- Invest smaller amounts and want fractional shares deploying every euro.
- Value a cleaner app experience and lower FX rate (0.15% vs 0.25%).
- Want interest on uninvested cash in your brokerage account.
IBKR wins when multi-currency funding matters (deposit EUR, convert once at institutional rates), when you need deeper market access, or when your portfolio has scaled to a size where FX and spread costs compound meaningfully over time.
The trade-off: more setup complexity. If you’re willing to spend two hours on account setup, IBKR saves real money at scale. See: DEGIRO vs IBKR · Trading 212 vs IBKR.
Ready to open an account?
Automate contributions with Trading 212 Pies, or go manual with DEGIRO’s broader exchange access. Either way — start now, not next month.
Go deeper
Frequently asked questions
Is Trading 212 really free?
There are no explicit commissions on stocks and ETFs in the Invest account. You still pay indirectly through the 0.15% FX conversion fee when trading in a non-base currency, spreads (the gap between buy and sell price), and a 0.7% deposit fee if you deposit more than €2,000 via card or e-wallet. Always verify the latest terms on Trading 212’s official fees page.
Is DEGIRO cheaper for ETFs?
It depends on the ETF. Core Selection ETFs on Tradegate cost just €1 per trade. Non-core ETFs or trades on other exchanges cost €3 per trade plus a €2.50/year connectivity fee per exchange. Trading 212 charges €0 on all ETFs. For a simple monthly UCITS ETF purchase, Trading 212 is typically cheaper in explicit fees. DEGIRO can be competitive if you stick strictly to its Core Selection.
Which is better for recurring monthly investing?
Trading 212. Its AutoInvest Pies let you set a schedule and amount — purchases happen automatically with fractional shares deploying every euro. DEGIRO has no automation: you must log in, deposit, and place orders manually each month. If consistency matters most, Trading 212 removes the friction that causes missed months.
Does DEGIRO have fractional shares?
No. DEGIRO does not offer fractional ETF or stock shares — you must buy whole units. If VWCE trades at ~€130, a €300 monthly deposit buys 2 shares and leaves ~€40 in cash. Trading 212 supports fractional shares from €1, so the full €300 gets invested immediately.
Is DEGIRO or Trading 212 safer?
Both segregate client assets and are regulated by reputable authorities. The key difference is DEGIRO’s banking license: your uninvested cash is protected up to €100,000 by the German Deposit Guarantee Scheme. Trading 212 is a private company without a banking license for most EU clients — cash protection is limited to the €20,000 Cypriot ICF, supplemented by a Lloyd’s of London insurance policy up to €1,000,000. Both offer €20,000 in investor compensation for non-returned securities.
Can I transfer my portfolio between them?
Trading 212 supports in-specie transfers (transferring actual holdings without selling). DEGIRO also supports outgoing transfers, though the process can take several weeks and DEGIRO may charge a fee per position. Check both brokers’ current transfer policies before initiating — some ETF share classes may not be available on the receiving platform.
Which should a complete beginner choose?
If you want the simplest “invest every month” setup with the least friction, Trading 212 is usually the easier starting point. If you prefer learning the mechanics of placing orders, choosing exchanges, and managing a traditional brokerage account, DEGIRO is a solid introduction. Both are fine choices — the worst outcome is spending months deciding instead of starting.
QuantRoutine provides educational content only. Nothing on this page is an offer, solicitation, or recommendation to buy or sell any security or to open an account with any specific broker. Investments can lose value, and past performance does not guarantee future results. You are responsible for your own investment, tax, and legal decisions. Always review each broker’s current terms, fees, and eligibility on their official website before opening or funding an account.