XTB launched its PEA in France in early 2025. The fee structure is the standout: zero commission on PEA trades up to €100,000 of monthly volume, then 0.20% above that threshold. No custody fee, no inactivity fee. For a monthly investor buying €300–€1,000 of ETFs, the effective cost is as close to zero as anything on the market. The xStation 5 platform is modern and intuitive — more approachable than IBKR’s Trader Workstation for investors who find complex interfaces off-putting.

Limitations: No PEA Jeune, no PEA-PME. Incoming PEA transfers not yet accepted as of April 2026 — if you have an existing PEA elsewhere, XTB is not yet the right destination. XTB also offers CFDs: the investment (PEA/CTO) account and the CFD account are separate products — make sure you are opening the right one. As a Polish-registered entity, French residents must declare the XTB account via Formulaire 3916 annually.

Best for: Cost-first investors who want a PEA with genuinely zero commission and a modern interface, and are opening a new PEA rather than transferring an existing one.

Trade Republic launched its PEA in January 2025. The standout is the plans programmés integration — automated monthly purchases inside your PEA at zero commission per execution. Manual orders cost €1 flat regardless of amount. This is one of the most friction-free PEA setups for a beginner: open the app, pick 1–2 ETFs, set a monthly amount, and leave it alone. Also one of the few platforms supporting PEA Jeune for investors aged 18–25, with no additional conditions.

Note on execution costs: Trade Republic routes orders through Lang and Schwarz Exchange (LSX) rather than Euronext directly. The bid-ask spread at LSX is real but not published as a clean percentage — estimates from independent sources suggest 0.11–0.50% depending on liquidity. For regular ETF buyers this is manageable; it is worth factoring in if you plan to trade frequently.

Practical admin note: Trade Republic is a German bank supervised by BaFin. French tax residents must declare the account annually via Formulaire 3916, even if no withdrawal is made. Trade Republic provides an IFU for the PEA on withdrawal and standard tax documentation for the CTO. Incoming PEA transfers are not accepted as of April 2026.

Best for: Beginners and DCA investors who want a PEA on autopilot with minimal decisions. The most approachable PEA setup of the four platforms, and the only one supporting PEA Jeune alongside IBKR-level accessibility.

Saxo Banque France offers the most complete PEA product range of the four: PEA Classique, PEA-PME, and PEA Jeune, all alongside a CTO. It is the only broker covered here offering the PEA-PME for EU small and mid-cap exposure. The platform — SaxoTraderGO and SaxoTraderPRO — is among the best available to European retail investors, with deep research tools and multi-asset access.

Limitations: Fees are higher than IBKR and significantly higher than XTB. The minimum commission of €3 per trade makes Saxo less efficient for small monthly contributions. Custody fee of 0.15% per year applies (minimum €5 per month). IBKR accepts incoming PEA transfers; verify whether Saxo accepts transfers from your specific current provider.

Best for: Experienced investors who want the PEA-PME alongside a PEA Classique, need PEA Jeune support, or require a premium research platform. Verify current fees on Saxo’s French site before opening.

DEGIRO does not offer a PEA in France — CTO only. In 2026 this is a meaningful limitation: if you haven’t opened a PEA yet, DEGIRO should not be your first account. Where DEGIRO makes sense is as a low-cost CTO overflow: if you already have a PEA at one of the four platforms above and need a separate CTO for global ETFs, non-EU stocks, or assets exceeding the €150,000 PEA cap, DEGIRO’s low commissions and clean UCITS ETF access make it a solid complement. Note that DEGIRO does not provide a standard French IFU — you receive an annual transaction report that requires manual input for your tax return.

Best for: As a secondary CTO alongside an existing PEA. Not recommended as a first account for French investors who haven’t yet started their 5-year PEA clock.

Trading 212 is available in France as a CTO with zero commissions on ETFs and stocks, fractional shares from €1, and a clean mobile interface. No PEA. As with DEGIRO, this changes the recommendation for French investors: if you haven’t opened a PEA yet, Trading 212 should be a parallel account at best — not your primary one. Where it works is for investors starting with very small amounts while setting up a PEA elsewhere, or for holding assets not eligible for the PEA structure. FX cost of 0.15% is the lowest of the CTO-only platforms.

Use Invest, not CFD. The CFD product is a separate leveraged account — you don’t own the underlying asset. Always open the Invest account only. Best for absolute beginners starting small in a CTO while building a PEA at IBKR, XTB, or Trade Republic.

All capital gains and dividends in a CTO are subject to the Prelevement Forfaitaire Unique (PFU) of 30%: 12.8% income tax plus 17.2% social charges. Investors with lower marginal income tax rates can opt for the progressive tax scale instead, but for most long-term equity investors the flat 30% is the effective default. Irish-domiciled accumulating UCITS ETFs defer dividend taxation inside a CTO — gains only crystallise on sale, which reduces the drag of annual dividend declarations in a taxable account.

The IFU is the French tax certificate summarising your investment income and gains for the year. Not all brokers provide it automatically, which affects how complex your annual tax declaration will be.

French tax residents are legally required to declare any account held at a foreign financial institution, even if no withdrawal was made during the year. This applies to accounts at IBKR (Ireland), Trade Republic (Germany), XTB (Poland), DEGIRO (Netherlands), and Trading 212 (Cyprus). The declaration is made via Formulaire 3916 as part of the annual income tax return — one form per foreign account.

Saxo Banque operates as a French legal entity, so no 3916 is required. French domestic brokers (BoursoBank, Fortuneo, Bourse Direct) are also French entities and require no 3916. Failure to declare a foreign account carries significant penalties. If you are unsure about your situation, consult a French tax advisor or a qualified accountant.

If yes, your shortlist narrows immediately. As of April 2026, IBKR and Saxo accept incoming PEA transfers. XTB and Trade Republic do not yet (expected later in 2026). Transfer costs are capped by law at €15 per line with a maximum of €150 total. Traditional French online brokers (BoursoBank, Fortuneo, Bourse Direct — not reviewed here) also accept transfers and may be worth comparing if you prefer a domestic provider with no Formulaire 3916 requirement.

If you are opening a new PEA from scratch, all four PEA brokers above are available and the decision comes down to Step 2.

This guide covers international online brokers accessible to French residents. French-specific platforms — BoursoBank, Fortuneo, Bourse Direct, and others — offer competitive PEA accounts with no Formulaire 3916 requirement, French-language customer service, and familiar banking infrastructure. They are not reviewed on this site, but are a legitimate option worth benchmarking against the platforms above — particularly for investors who prefer domestic providers or find the English-first experience of IBKR and Trade Republic a meaningful friction. The best international broker is only “best” if the admin overhead is acceptable for your specific situation.