Lightyear vs DEGIRO (2026):
Full Comparison for EU Investors
Both are low-cost EU brokers with no custody fee and a focus on UCITS ETF investing. The decision comes down to four things: ETF commission structure, auto-invest capability, fractional shares, and how much the safety profile matters to you. Lightyear charges €0 per ETF trade and has built-in auto-invest Plans. DEGIRO has broader market access, a German banking licence, and slightly cheaper FX markup. Neither is universally better — but the choice is usually clearer than it looks once you run the numbers.
Lightyear vs DEGIRO at a glance
The structural differences are worth understanding before committing to either broker.
- €0 commission on all ETF trades
- Built-in auto-invest Plans (weekly / bi-weekly / monthly)
- Fractional shares for US stocks from €2
- ~1.97% EUR cash interest via Savings MMF
- Clean, modern mobile-first interface
- Business accounts available
- Available across 25 European countries
- Higher FX markup (0.35% vs DEGIRO 0.25%)
- Narrower market access — fewer exchanges
- Younger broker with no decade-long track record
- No banking licence; lower cash protection (€20,000)
- Fractional shares for US stocks only — EU stocks are whole units
- No options or futures trading
- Lower FX markup (0.25% AutoFX)
- Access to 45+ markets across 30 countries
- German banking licence — €100,000 cash protection
- Publicly listed parent (flatexDEGIRO AG, Frankfurt)
- Options and futures available (Active/Trader profiles)
- 1,000+ Core Selection ETFs at €1/trade on Tradegate
- Core ETFs still cost €1/trade — Lightyear charges €0
- No auto-invest or savings plan feature
- No fractional shares — whole units only
- 0% interest on uninvested cash
- No business accounts
Overview comparison
Key structural differences at a glance. Detailed fee maths follow in the section below.
| Category | Lightyear | DEGIRO |
|---|---|---|
| Best fit | Passive ETF investors wanting automation and a clean interface | DIY investors needing broad market access, no auto-invest required |
| ETF commission | €0 | €1 (Core Selection) / €3 (other ETFs) |
| FX markup | 0.35% | 0.25% (AutoFX) |
| Auto-invest / recurring | Yes — Plans + Repeat Orders | No |
| Fractional shares | Yes (US stocks, from €2) | No |
| Cash interest | ~1.97% EUR via Savings MMF | 0% |
| Annual custody fee | 0% | 0% |
| Platform fee | €0/month | €0/month |
| Regulator | EFSA / Finantsinspektsioon (EE) | BaFin (DE), AFM (NL), DNB (NL) |
| Investor protection | €20,000 — Estonian Tagatisfond | €20,000 investments + €100,000 cash |
| Banking licence | No | Yes — flatexDEGIRO Bank AG |
| Publicly listed | No (VC-backed) | Yes — Frankfurt (FTK) |
| Market access | US, EU, UK, Baltic markets | 45+ markets across 30 countries |
| Options and futures | No | Yes (Active/Trader profiles) |
| Minimum deposit | €1 | €0 |
Fee comparison and break-even math
The headline numbers look similar. The real gap is in ETF commissions, FX markup, and cash interest — all three compound over a decade of monthly investing.
| Fee | Lightyear (EU) | DEGIRO |
|---|---|---|
| ETF commission | €0 — all ETFs | €1 (Core Selection, Tradegate) / €3 (other) |
| EU stock commission | €1 per trade | €3 (€2 commission + €1 handling) |
| US stock commission | 0.1% (min $0.10, max $1) | €3 + 0.25% AutoFX on the trade value |
| FX markup | 0.35% per conversion | 0.25% AutoFX (applied per foreign-currency trade) |
| Fixed FX fee | None | €10 + 0.25% for manual FX conversion |
| Connectivity fee | None | 0.25% / max €2.50 per year per non-Tradegate exchange |
| Annual custody fee | 0% | 0% |
| Platform fee | €0 | €0 |
| Cash interest (uninvested) | ~1.97% EUR — Savings MMF (variable) | 0% |
| Inactivity fee | None | None |
| Withdrawal fee | None | None |
| Minimum deposit | €1 | €0 |
ETF trade cost: €500/month, 12 trades per year
- ETF commission: €0 x 12 = €0/year
- FX (EUR ETF on EU exchange): €0
- Total annual trading cost: €0
- ETF commission: €1 x 12 = €12/year
- FX (EUR ETF on Tradegate): €0
- Total annual trading cost: €12
At €500/month over 10 years on EUR-denominated UCITS ETFs, Lightyear saves €120 in direct trading costs versus DEGIRO Core Selection (€0 vs €12/year x 10 years). For non-Core DEGIRO ETFs, the saving reaches €360. Neither number is dramatic in isolation — but the cash interest gap adds another layer: if you hold an average of €500 uninvested between contributions, Lightyear’s Savings product earns roughly €10/year at current rates. DEGIRO earns nothing. The combined drag is real at scale.
Account types, fractional shares, and auto-invest
The practical features that determine whether a broker fits your investing workflow — not just your portfolio.
| Feature | Lightyear | DEGIRO |
|---|---|---|
| Account types | Personal GIA, Business Account | Basic, Active, Trader, Day Trader |
| Tax-advantaged accounts (EU) | Estonia: Investeerimiskonto; Hungary: TBSZ | None for EU investors |
| Fractional shares | Yes — US stocks from €2 minimum | No — whole units only |
| Auto-invest / savings plan | Yes — Plans + Repeat Orders | No |
| Recurring buy frequency | Weekly, bi-weekly, or monthly | Manual only |
| Account opening time | ~1 day | ~1 day |
| Joint accounts | No | No |
| Business accounts | Yes | No |
| Demo / paper trading | No | No |
| CFDs | No | No |
| Crypto (spot) | Yes — 12 coins (EU only, excl. Hungary) | No — crypto ETPs only |
| Options and futures | No | Yes (Active/Trader profiles) |
Platform, automation, and research tools
Two very different platforms built for different investor profiles. The gap in automation is the most meaningful difference for passive investors.
- Mobile app (iOS + Android) and web app with high feature parity
- Modern, clean UI designed for retail investors
- Plans: allocate across multiple ETFs/stocks, automate monthly buys
- Repeat Orders: automate single-instrument recurring buys
- “Lightyear AI” — automated news summaries on volatile assets in portfolio
- Bulls / Bears sentiment panels per instrument
- Public stock and ETF screener on web
- Interactive charts with contextual event timeline
- No classic technical indicators or drawing tools
- WebTrader (browser) and mobile app (iOS + Android) with full feature parity
- Execution-focused design — professional, functional, not consumer-polished
- No auto-invest feature — every order placed manually
- Interactive charts: line, candlestick, OHLC with technical indicators
- Financial data, key ratios, ESG ratings, analyst views
- Economic calendar and global market overviews
- News feed, watchlists, price alerts, 2FA
- DEGIRO Investor Academy (educational content)
Regulation and investor protection
Both are regulated EU investment firms. The material difference is DEGIRO’s banking licence and the cash protection ceiling that comes with it.
| Safety factor | Lightyear | DEGIRO |
|---|---|---|
| EU legal entity | Lightyear Europe AS (Estonia) | flatexDEGIRO Bank Dutch Branch (NL) |
| Primary regulator | EFSA / Finantsinspektsioon (EE) | BaFin (DE), AFM (NL), DNB (NL) |
| Investment protection | €20,000 — Estonian Tagatisfond | €20,000 — German EdW (90% up to cap) |
| Cash deposit protection | €20,000 (Estonian scheme) | €100,000 — German Deposit Guarantee Scheme |
| Banking licence | No | Yes — flatexDEGIRO Bank AG |
| Publicly listed parent | No (VC-backed fintech) | Yes — Frankfurt Stock Exchange (FTK) |
| Asset segregation | Yes — tier-1 global custodians | Yes — separate SPV structure |
| Securities lending | Not applicable | Automatic on Basic account |
| Regulatory history | No major enforcement actions on record | 2021 AFM fine — resolved post-merger |
- Younger broker: Lightyear launched in 2020. Fully regulated and asset-segregated, but without a decade-long operational track record.
- Cash protection ceiling: Uninvested cash falls under the Estonian scheme at €20,000 — meaningfully lower than DEGIRO’s €100,000 banking guarantee.
- Savings MMF: When you move cash to the Savings product, it is held in a BlackRock MMF — not a bank deposit and not covered by any deposit guarantee scheme.
- Banking licence advantage: Client cash is held with a German IBAN at flatexDEGIRO Bank AG and covered up to €100,000 under the German Deposit Guarantee Scheme — the same level as a retail bank account.
- Securities lending: The Basic account includes automatic securities lending. Opting for the Custody account disables this. Basic vs Custody explained →
- 2021 AFM fine: DEGIRO was fined by the Dutch AFM for internal IT and compliance deficiencies. The issue was resolved following the flatexDEGIRO merger and subsequent BaFin oversight.
Who should choose which broker
No single answer fits every investor. Here is the clearest way to frame the decision.
- You want to automate monthly ETF contributions without logging in manually
- You invest in ETFs and want zero commission on every trade
- You want fractional shares to deploy fixed monthly amounts precisely
- You want to earn interest on uninvested cash between contributions
- You prefer a clean, modern mobile-first experience
- You need a business/corporate investment account
- You are a beginner building a simple 1-2 fund UCITS ETF portfolio
- You need access to 45+ global exchanges beyond US/EU/UK
- You trade options or futures in addition to ETFs
- You hold significant uninvested cash and want €100,000 deposit protection
- You prefer a publicly listed, long-established broker
- You are comfortable placing buy orders manually each month
- You buy mostly EUR-denominated ETFs and want the lowest FX exposure
Ready to open an account?
Lightyear for automated ETF investing with zero commission and cash interest. DEGIRO for broader market access, derivatives trading, and the strongest cash protection in Europe.
Go deeper
Common questions
Is Lightyear or DEGIRO better for UCITS ETF investing in Europe?
Lightyear charges €0 per ETF trade versus DEGIRO’s €1 Core Selection fee or €3 for non-core ETFs. For investors making regular monthly ETF contributions, Lightyear is consistently cheaper on a per-trade basis. DEGIRO’s FX markup is slightly lower (0.25% vs 0.35%), but that advantage does not outweigh the zero-commission edge — a €500 ETF trade with FX costs €1.75 at Lightyear versus €2.25 at DEGIRO Core. For a standard 1-2 fund UCITS ETF strategy with monthly automation, Lightyear is the more cost-efficient and frictionless choice in 2026.
Does Lightyear support fractional shares?
Yes. Lightyear supports fractional shares for US stocks with a minimum order of €2/$2/£2. DEGIRO does not support fractional shares — the minimum investment is one full unit. For investors making fixed monthly contributions into higher-priced instruments, Lightyear’s fractional support means every euro of the monthly contribution gets deployed, rather than leaving a residual uninvested amount each cycle. Note that fractional shares on Lightyear are available for US stocks only — EU stocks must be purchased in whole units.
Is DEGIRO safer than Lightyear?
Both are regulated EU investment firms that segregate client assets from their own balance sheets. DEGIRO holds a German banking licence via flatexDEGIRO Bank AG — uninvested cash is protected up to €100,000 under the German Deposit Guarantee Scheme and investments up to €20,000 under the German Investor Compensation Scheme (EdW). Lightyear Europe AS is regulated by the Estonian EFSA, with investor protection up to €20,000 via the Estonian Tagatisfond. DEGIRO’s banking licence and higher cash ceiling give it a structural safety advantage. For investors who stay fully invested and hold minimal uninvested cash, the difference in investment protection is identical (€20,000 on both platforms).
Does DEGIRO or Lightyear offer auto-invest or recurring investing?
Lightyear has built-in auto-invest features. You can set up Repeat Orders to automate single-instrument recurring purchases, or use Plans to allocate across multiple ETFs and stocks and fund them automatically on a weekly, bi-weekly, or monthly schedule. DEGIRO has no recurring investment feature of any kind — every buy order must be placed manually. For passive investors who want hands-off monthly investing into a UCITS ETF portfolio, Lightyear removes the manual step entirely.
Which broker is better for a complete beginner in Europe?
Lightyear is generally the more beginner-friendly option: a cleaner interface, fractional shares so every euro gets deployed, auto-invest Plans that remove the monthly manual login, and cash interest via the Savings MMF on uninvested funds. DEGIRO is accessible at the platform level, but the absence of auto-invest and fractional shares adds friction for investors deploying fixed monthly amounts. If your goal is a simple 1-2 UCITS ETF portfolio with monthly automation and minimal decisions, Lightyear removes more obstacles in 2026.
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