Trading.com vs Trading 212 (2026):
Currency costs, execution and protection compared
Trading.com risk warning
Risk Warning: Investing in shares involves risks. The value of your investments may increase and decrease and this may result in losing all your invested capital. Any references to past performance are no guarantee of future returns or future performance.
Both brokers charge no commission on shares and ETFs in their investing accounts, so the comparison is decided elsewhere. Trading.com charges 0.25% currency conversion on the buy and on the sell of any share or ETF priced outside the account currency, with one currency per account, and no fee on any deposit method. Trading 212 charges 0.15% and lets you hold 12 currencies, but charges 0.7% on card deposits once you pass EUR 2,000 cumulatively. This page compares fees, currency conversion, funding, interest on cash, order execution, custody and investor protection. It covers the Trading.com Investment Account at Trading.com Markets EU Ltd and the Trading 212 Invest account at both of Trading 212’s EU entities.
Some of the links on this site are affiliate links, meaning we may earn a commission at no extra cost to you if you sign up through them. This does not affect our reviews or recommendations — we only feature products we genuinely believe are useful for investors. This site provides educational content only, not personalized investment advice. Investments can lose value and past performance does not guarantee future results. You are responsible for your own financial decisions and for confirming the tax and legal rules that apply in your country.
TL;DR
On a EUR-listed ETF bought from a EUR account funded by bank transfer, both brokers charge EUR 0. The gap opens on foreign-currency shares, on card funding, and on leaving.
- You fund by card and would pass Trading 212’s EUR 2,000 free card allowance. Trading.com charges no deposit or withdrawal fee on any method; on bank wires, third-party bank charges may apply.
- You mostly buy ETFs listed in your account currency, where there is no commission, no conversion, no custody fee and no inactivity or dormant fee on the Investment Account.
- You want interest on cash with no tiers or caps by balance size. The advertised rate differs by currency — EUR 2.00% as at September 2026, variable — and is paid through a money market fund rather than a bank deposit.
- You live in Belgium, which Trading 212 excludes and Trading.com’s EU entity serves.
0.25% currency conversion on the buy and on the sell of any share or ETF priced outside the account currency, with one currency per account. EUR 50 minimum deposit. EUR 50 per request to transfer holdings out.
- You buy shares priced outside your account currency. Conversion is 0.15% rather than 0.25%, and a balance held in the instrument’s own currency avoids it on the order, though moving euros into that balance is itself a 0.15% conversion.
- You want contributions automated with AutoInvest, into a Pie or into a single instrument.
- You want your custodians named: Interactive Brokers and BNY Mellon under Trading 212 EU GmbH, Interactive Brokers under Trading 212 Markets Ltd.
- You may move brokers later: Trading 212 charges no transfer fee in either direction, except that transfers are not offered to Trading 212 EU GmbH users residing in Germany.
Card, Google Pay and Apple Pay deposits cost 0.7% on the amount above EUR 2,000 deposited cumulatively. Belgium is excluded.
Quick comparison
Trading.com Investment Account against the Trading 212 Invest account. Where Trading 212’s two EU entities differ, both are shown.
| Category | Trading.com (Trading.com Markets EU Ltd) | Trading 212 (Trading 212 EU GmbH / Trading 212 Markets Ltd) |
|---|---|---|
| Commission, shares and ETFs | EUR 0. Other fees may apply. | EUR 0 in the Invest account |
| Currency conversion | 0.25% on the buy and on the sell of anything outside the account currency, confirmed by Trading.com in writing, September 2026 | 0.15% on the live interbank rate, never more than 0.15%, including at weekends |
| Account currencies | One currency per account, chosen from EUR, USD, GBP, HUF, PLN or CHF; a second currency cannot be held alongside it | Balances in 12 currencies; primary currency fixed at signup. Not available inside Pies |
| Dividends | No FX fee; converted at the live interbank rate | No FX fee; converted at the interbank rate |
| Custody fee | None | None |
| Inactivity fee | None on the Investment Account, which is exempt from the dormant fee | No inactivity-fee line on Trading 212’s price list |
| Card and wallet deposits | No Trading.com fee | Free until EUR 2,000 deposited cumulatively, then 0.7% on the amount exceeding that |
| Bank transfer deposits and withdrawals | No Trading.com fee; on wires, correspondent and receiving-bank charges may apply | No Trading 212 fee; your own bank may charge |
| Minimum deposit | EUR 50 | EUR 1 |
| Transfer holdings out | EUR 50 per request | No Trading 212 fee. Not offered to Trading 212 EU GmbH users residing in Germany |
| Instruments | 1,229 shares and 376 ETFs as at 14 September 2026, per Trading.com | Shares and ETFs |
| Order types | Market, Limit, Stop | Market, Limit, Stop, Stop Limit |
| Interest on uninvested cash | Opt-in, via a money market fund. EUR 2.00% as at September 2026, variable. Rate differs by currency, with no tiers by balance | Opt-in, via money market funds. Published rates are new-client rates; existing clients see theirs in the app |
| Order execution | Agent or principal; may be off-exchange; venue disclosed after execution | Trading 212 EU GmbH: executed by Trading 212 Markets (Ireland) Limited, on an external venue or its own systematic internaliser |
| Custodians | Not publicly disclosed | Interactive Brokers and BNY Mellon (EU GmbH); Interactive Brokers (Markets Ltd) |
| Investor compensation | Cyprus ICF, up to EUR 20,000 | EU GmbH: EdW, 90% of the claim capped at EUR 20,000, plus up to EUR 100,000 deposit cover per partner bank. Markets Ltd: Cyprus ICF, up to EUR 20,000 |
| Joint accounts | Not offered | Not offered |
What each order actually costs
With commission at zero on both sides, the cost of owning a position is built from currency conversion, the way you fund the account, the spread on each trade, and what it costs to leave.
- Commission: EUR 0 on shares and ETFs in the Investment Account. Other fees may apply. No separate execution fee.
- Currency conversion: 0.25% on the buy and on the sell of any share or ETF priced outside your account currency, confirmed by Trading.com in writing in September 2026. Dividends are exempt.
- Account costs: no custody, safekeeping or management charge. No inactivity or dormant fee on the Investment Account.
- Funding: no deposit or withdrawal fees. On bank wires Trading.com covers the bank fee on its side only, so correspondent and receiving-bank charges sit with you. Minimum deposit EUR 50.
- Transfer out: EUR 50 per request, and only where the receiving provider accepts the holding.
- Chargeback: USD 150 research fee if a chargeback is raised against a deposit.
- Taxes on the trade: stamp duty and transaction taxes are applied and shown in the platform before you submit the order, along with the fees.
Source: Trading.com EU Costs and Charges (V4, 23 June 2026), Investment Account Client Agreement (V7, 13 July 2026), Order Execution Policy (V4, 23 June 2026), and written confirmation from Trading.com, September 2026.
Verify on Trading.com →- Commission: EUR 0 on shares and ETFs in the Invest account. No custody fee.
- Currency conversion: 0.15% on the live interbank rate, never more than 0.15%, including at weekends. Dividends and other corporate-action proceeds are exempt.
- Account costs: withdrawals, statements, account closure and bank-transfer deposits are all priced at zero. The price list has no account-opening, maintenance or inactivity line.
- Funding: bank transfer free with no limit. Cards, Google Pay, Apple Pay and other supported methods are free until EUR 2,000 has been deposited cumulatively, then 0.7% on the amount exceeding that. Minimum deposit EUR 1.
- Transfer out: no Trading 212 fee in either direction; the other provider may charge. Not offered to Trading 212 EU GmbH users residing in Germany.
- Statutory levies: passed through at cost — for example UK stamp duty of 0.5% on buying UK shares and French FTT of 0.4% on buying certain French shares.
Source: Trading 212’s published Terms & Fees, legal documentation and help centre, verified August 2026.
Verify on Trading 212 →Twelve monthly purchases, EUR 3,600 a year. Commission is zero on both sides, so the explicit cost is conversion plus any funding charge. The spread on each purchase applies at both brokers and is not included.
- Trading.com, any funding method: 0.25% of EUR 300 is EUR 0.75 per purchase, EUR 9.00 a year. No deposit fee on any method.
- Trading 212, funded by bank transfer: 0.15% of EUR 300 is EUR 0.45 per purchase, EUR 5.40 a year.
- Trading 212, funded by card: the first EUR 2,000 of card deposits is free and the remaining EUR 1,600 in year one costs 0.7%, or EUR 11.20. With conversion that is EUR 16.60 in year one. From year two, every card deposit is above the threshold: 0.7% of EUR 3,600 is EUR 25.20, plus EUR 5.40 conversion.
- Selling later: Trading.com converts the proceeds back at 0.25%, so a EUR 3,600 position costs about EUR 9.00 more on the way out — roughly 0.50% round trip. At Trading 212, converting back costs 0.15%, about EUR 5.40 and 0.30% round trip, or nothing if you keep the USD proceeds as a USD balance.
- Funded by card above Trading 212’s EUR 2,000 free amount: on money deposited by card, Google Pay or Apple Pay once the allowance is used up, a buy and later sale of a USD-listed share costs 1.00% at Trading 212 (the 0.7% deposit fee, plus 0.15% on the buy and 0.15% on the sell) against 0.50% at Trading.com (0.25% on the buy and 0.25% on the sell). Funded by bank transfer, which is free at both, the same buy and sale costs 0.30% at Trading 212 and 0.50% at Trading.com.
| Foreign-currency purchases per year | Trading.com, buy only (0.25%) | Trading.com, buy and sell (0.50%) | Trading 212, buy only (0.15%) | Trading 212, buy and sell (0.30%) |
|---|---|---|---|---|
| EUR 1,200 | EUR 3.00 | EUR 6.00 | EUR 1.80 | EUR 3.60 |
| EUR 6,000 | EUR 15.00 | EUR 30.00 | EUR 9.00 | EUR 18.00 |
| EUR 12,000 | EUR 30.00 | EUR 60.00 | EUR 18.00 | EUR 36.00 |
| EUR 24,000 | EUR 60.00 | EUR 120.00 | EUR 36.00 | EUR 72.00 |
QuantRoutine arithmetic from each broker’s conversion rate, EUR account, excluding the spread and any funding charge. The sell columns assume the position is sold at the value it was bought for.
One base currency against twelve
The rate gap is 0.10 percentage points. The other difference is where each broker applies its rate.
- Each Investment Account has one currency, chosen from EUR, USD, GBP, HUF, PLN and CHF; a second currency cannot be held alongside it.
- 0.25% applies on both the buy and the sell of any share or ETF priced in another currency. With no second balance to hold it in, a EUR-account client buying a US-listed share pays 0.25% in and 0.25% out.
- Choosing USD as the account currency moves the charge rather than removing it: funding the account from euros is a conversion, returning to euros is another, and EUR-listed ETFs become the foreign-currency trades.
- Dividends are converted at the live interbank rate with no FX fee.
- Withdrawing in a currency other than the account currency triggers the same conversion terms.
- The Invest account can hold balances in 12 currencies: GBP, USD, EUR, CAD, CHF, DKK, NOK, PLN, SEK, CZK, RON and HUF. The primary currency is chosen at signup and cannot be changed afterwards.
- Each order is paid from one currency. Paying from a balance in the instrument’s own currency avoids the fee on that order; if that balance is short, the order may not execute in full, because there is no automatic conversion.
- Converting EUR into a USD balance is itself a 0.15% conversion. The saving comes from currency deposited directly or kept from sales and dividends.
- Not inside Pies: all Pie orders are placed in the primary currency, so a foreign-currency holding in a Pie is converted at 0.15% on every AutoInvest run.
- Dividends and corporate-action proceeds are exempt and converted at the interbank rate.
Deposits, withdrawals and leaving
Bank transfer deposits are free at both. Card deposits carry no Trading.com fee, against 0.7% at Trading 212 once EUR 2,000 has been deposited cumulatively. Transferring holdings out costs EUR 50 per request at Trading.com and carries no Trading 212 fee.
- Deposit by current account, debit card, credit card or other methods offered; methods vary by country. No cash or cheques.
- No Trading.com fee on deposits or withdrawals. On wires, correspondent and receiving-bank charges sit with you.
- Deposits are credited on a best-efforts basis within one business day of acceptance.
- Withdrawals go back to the source account by default, and valid requests are processed by the end of the following business day.
- Transferring holdings out costs EUR 50 per request and depends on the receiving provider accepting them.
- Bank transfer deposits are free with no limit; the sending bank may charge its own fee.
- Cards, Google Pay, Apple Pay and other supported methods: free until EUR 2,000 deposited cumulatively, then 0.7% on the amount exceeding that. The allowance is cumulative and does not reset per payment.
- Withdrawals are free from Trading 212; banks or processors may charge their own fees. Regular withdrawals take up to 3 business days; card withdrawals are usually instant.
- Withdrawals default to the original deposit method, and do not convert currency automatically.
- Portfolio transfers carry no Trading 212 fee in either direction, move investments only, and are not offered to Trading 212 EU GmbH users residing in Germany. Target processing time is 21 calendar days under Trading 212 EU GmbH.
Interest on cash, and what it actually is
Both programmes are opt-in, and at both your cash goes into money market funds rather than sitting as a bank deposit. That is an investment, not a guaranteed deposit.
- Advertised rates as at September 2026, variable: EUR 2.00% · USD 3.45% · GBP 3.50% · CHF 0.10% · HUF 2.50% · PLN 2.00%.
- The rate differs by currency; within a currency there are no tiers, caps or maximum, so the same rate applies at every balance size.
- Opt in or out by email at any time. Cash is held in a qualifying money market fund; Trading.com passes on part of what it receives and retains the rest.
- Accrued daily on end-of-day uninvested cash. Rate cuts carry at least one day’s notice; increases can apply immediately.
- The EUR 20,000 compensation cover is not deposit insurance.
- Opt-in, with your consent to cash being held in qualifying money market funds. If you do not opt in, cash sits in banks, no interest is paid to you, and Trading 212 keeps all the interest it receives.
- Where you opt in, Trading 212 pays you a share of the interest it receives. Published rates apply to new clients; existing clients see their own rate in the app, so no figure is quoted here.
- Rates are quoted p.a. under Trading 212 EU GmbH and as APY under Trading 212 Markets Ltd — different conventions, not directly comparable.
- Paid daily, with no minimum or maximum balance. CAD and CHF balances pay no interest.
- Money market fund holdings are client assets, not client money, and are not deposit-guaranteed.
Who fills your order, and who holds your shares
Neither broker promises an on-exchange fill, and both say so in their own execution policies. They differ on who stands on the other side and on how much they tell you about custody.
- Two routes: Trading.com may act as agent and route the order to a nominated third-party broker for execution at an available venue, or act as principal and fill it from its own inventory, matched against the best bid and ask on the reference exchange at the time.
- Off-exchange: share orders may be executed outside a regulated market or MTF. Its policy says this introduces greater counterparty and settlement risk compared with trading on an exchange.
- Venue: you are told where the order was executed after it is filled. Clause 14.2 of its Order Execution Policy gives an indicative list, subject to change at any time, of the execution venues on which it places significant reliance; the one venue it names is CMC Markets UK Plc.
- Custody: shares are held through a nominee, with Trading.com acting as custodian or appointing sub-custodians. The sub-custodians’ names are not publicly disclosed.
- Client money: segregated from Trading.com’s own money and may be pooled with other clients’ money in an omnibus account. It may be held outside the EEA, where different insolvency rules apply.
- Routing (Trading 212 EU GmbH): every equity order is forwarded to Trading 212 Markets (Ireland) Limited, authorised by the Central Bank of Ireland, which executes on an external venue or through its own systematic internaliser.
- Off-exchange: orders filled outside a regulated venue are executed at a price no worse than the reference exchange. Trading 212’s policy says this carries greater counterparty and settlement risk than on-exchange trading, and that it receives no fee or rebate for routing orders to its Irish group company.
- Custodians: Interactive Brokers and BNY Mellon under Trading 212 EU GmbH; Interactive Brokers only under Trading 212 Markets Ltd.
- What you own (Trading 212 EU GmbH): holdings sit in omnibus accounts at sub-custodians, and your entitlement is a contractual claim against Trading 212 for delivery of the securities, rather than direct co-ownership at a central securities depository. On an unreconciled custodian shortfall, clients share it pro rata.
- Client money (Trading 212 EU GmbH): held in omnibus trust accounts at regulated institutions, segregated from the firm’s own assets under German client-money rules.
Who you contract with, and what the compensation schemes cover
At both brokers the entity is set by where you live. Every EEA resident is served by the same Trading.com entity; at Trading 212 your country decides, and with it the scheme.
| Entity | Regulator | Investor compensation | Who it serves |
|---|---|---|---|
| Trading.com Markets EU Ltd | CySEC, licence 256/14 | Cyprus Investor Compensation Fund, up to EUR 20,000 | Residents of the European Economic Area (EEA) |
| Trading 212 EU GmbH | BaFin | EdW: 90% of the claim, capped at EUR 20,000 per creditor. Separately, client money at partner banks: up to EUR 100,000 per person per partner bank | Germany, Austria, Denmark, Finland, France and the French overseas departments, Iceland, Ireland, Liechtenstein, Luxembourg, the Netherlands, Norway, Spain, Sweden, Switzerland |
| Trading 212 Markets Ltd | CySEC, licence 398/21 | Cyprus Investor Compensation Fund, up to EUR 20,000 | Bulgaria, Croatia, Czech Republic, Estonia, Greece, Hungary, Italy, Latvia, Lithuania, Malta, Poland, Portugal, Romania, Slovakia, Slovenia, Cyprus |
What each broker gives you at tax time
Neither files your return. One exception on the Trading 212 side is scoped to German tax residents only.
- Trade confirmations are posted to the platform, and a monthly statement is sent by email.
- An annual costs and charges statement, in cash and percentage terms, is emailed each year.
- US shares require a W-8BEN; without one, US dividends are withheld at 30%.
- Tax on interest is your responsibility and depends on your residency.
- An annual statement of your trading activity and a yearly costs and charges report, generated in the app.
- German tax residents under Trading 212 EU GmbH: automatic tax withholding on Invest activity since 5 January 2026, with a Steuerbescheinigung from the 2026 tax year.
- Every other client is responsible for their own tax obligations.
Check the current terms before you open an account
Fees, interest rates and the instrument range change. Confirm the figures on each broker’s own pages, check which Trading 212 entity covers your country, and at Trading.com check that you are opening the Investment Account. Investing in shares involves risks and you may lose all your invested capital.
Go deeper
Frequently asked questions
What is the main cost difference between Trading.com and Trading 212?
Both charge no commission on shares and ETFs in their investing accounts, and neither charges a custody fee. The difference is currency conversion. Trading.com charges 0.25% on the buy and again on the sell of anything priced outside your account currency, confirmed by Trading.com in writing in September 2026. Trading 212 charges 0.15%, never more, including at weekends. On a share bought and later sold from a EUR account funded by bank transfer, that works out to roughly 0.50% at Trading.com and 0.30% at Trading 212. Funded by card, Google Pay or Apple Pay above Trading 212’s EUR 2,000 free amount, its 0.7% deposit fee takes Trading 212 to 1.00%, against 0.50% at Trading.com. On a EUR-listed ETF bought from a EUR account, neither broker charges a conversion fee.
Can I avoid the currency conversion fee at either broker?
At both, only on instruments priced in the currency you pay with. A Trading.com account holds one currency, chosen from EUR, USD, GBP, HUF, PLN or CHF, and a second currency cannot be held alongside it, so a share or ETF priced in another currency is converted at 0.25% on the buy and on the sell. Choosing USD as the account currency moves the charge rather than removing it: funding from euros is a conversion, and EUR-listed ETFs become the foreign-currency trades. At Trading 212 the Invest account can hold balances in 12 currencies, and paying for an order from a balance in the instrument’s own currency avoids the fee on that order. Converting EUR into that balance is itself a 0.15% conversion, so the saving comes from currency you deposit directly or keep from sales and dividends. The multi-currency option does not work inside Pies: all Pie orders are placed in the account’s primary currency.
Do my shares trade on a stock exchange at either broker?
Not necessarily at either. Trading.com may route a share order to a third-party broker for execution at a venue, or act as principal and fill it from its own inventory against the best bid and ask on the reference exchange. You are told the venue after the order is executed. Clause 14.2 of Trading.com’s Order Execution Policy gives an indicative list, subject to change at any time, of the venues on which it places significant reliance, and the one venue it names is CMC Markets UK Plc. Trading 212 EU GmbH forwards every equity order to its Irish group company, Trading 212 Markets (Ireland) Limited, which executes on an external venue or through its own systematic internaliser at a price no worse than the reference exchange. Both brokers’ own policies state that off-exchange execution carries greater counterparty and settlement risk than trading on an exchange.
How much is protected if Trading.com or Trading 212 fails?
Trading.com Markets EU Ltd is covered by the Cyprus Investor Compensation Fund, up to EUR 20,000. It is not a deposit guarantee scheme. Trading 212 depends on your country. Clients of Trading 212 EU GmbH are covered by the German EdW scheme at 90% of the claim, capped at EUR 20,000, and separately client money held at partner banks is covered by deposit guarantee schemes up to EUR 100,000 per person per partner bank. Clients of Trading 212 Markets Ltd are covered by the Cyprus Investor Compensation Fund up to EUR 20,000, the same scheme as Trading.com.
Do Trading.com or Trading 212 charge to deposit or withdraw?
Trading.com charges no deposit or withdrawal fee on any method. On bank wires it covers the bank fee on its own side only, so correspondent and receiving-bank charges can still reach you. Trading 212 charges nothing on bank-transfer deposits or on withdrawals, and the receiving bank may charge. Card, Google Pay, Apple Pay and other supported deposits into the Trading 212 Invest account are free until EUR 2,000 has been deposited cumulatively, after which 0.7% applies to the amount exceeding that threshold.
Which broker pays interest on uninvested cash?
Both, on an opt-in basis, and at both the cash is held in qualifying money market funds rather than as a bank deposit, so it is not covered by a deposit guarantee. Trading.com’s advertised rate differs by currency, with no tiers or caps by balance size, for example EUR 2.00% as at September 2026; rates are variable and can change with at least one day’s notice on a cut. Trading 212 pays a share of the interest it receives if you opt in, and keeps all of it if you do not. Its published rates apply to new clients, and existing clients see their own rate in the app, so no Trading 212 figure is quoted here.
Can I move my portfolio out of Trading.com or Trading 212 later?
Trading.com charges EUR 50 per transfer-out request, and the transfer depends on the receiving provider accepting the holding. Trading 212 charges no fee in either direction, though the other provider may charge, and transfers are investments only, with no cash moved. Trading 212 does not offer portfolio transfers to users registered with Trading 212 EU GmbH who reside in Germany.
Are dividends converted with an FX fee?
No, at either broker. Trading.com converts dividends at the live interbank rate with no FX fee, and Trading 212 exempts dividends and other corporate-action proceeds from currency conversion costs, converting at the interbank rate. Withholding tax still applies at both, depending on your residency and the issuer’s country. Inside a Trading 212 Pie, dividend reinvestment is processed in the account’s primary currency, and conversions there are charged at 0.15%.
Is Trading 212 available in my country, and which entity would I get?
It depends on where you live. Trading 212 EU GmbH, regulated by BaFin, serves Germany, Austria, Denmark, Finland, France and the French overseas departments, Iceland, Ireland, Liechtenstein, Luxembourg, the Netherlands, Norway, Spain, Sweden and Switzerland. Trading 212 Markets Ltd, regulated by CySEC, serves Bulgaria, Croatia, the Czech Republic, Estonia, Greece, Hungary, Italy, Latvia, Lithuania, Malta, Poland, Portugal, Romania, Slovakia, Slovenia and Cyprus. Belgium is excluded. Trading.com also serves clients through the regulated entity for their jurisdiction: EEA residents, including Belgian residents, are served by Trading.com Markets EU Ltd.
Some of the links on this site are affiliate links, meaning we may earn a commission at no extra cost to you if you sign up through them. This does not affect our reviews or recommendations — we only feature products we genuinely believe are useful for investors. This site provides educational content only, not personalized investment advice. Investments can lose value and past performance does not guarantee future results. You are responsible for your own financial decisions and for confirming the tax and legal rules that apply in your country.