This broker comparison includes 20 parameters that are important for private investors.
This broker comparison compares zero-commission brokers (Freestoxx, DEGIRO and Trade Republic) and a low cost broker (Interactive Brokers).
| FREESTOXX | DEGIRO | Trade Republic | Interactive Brokers | |
| Commission per order |
$ 0,00 |
$
2,20 |
$
1,10 |
$
0,005 per share |
| Minimum per order | $ 0,00 |
$ 2,20 | $ 1,10 | $ 1,00 |
| Conversion cost per order | 0,00% | 0,25%* | 0,00% | $ 3,00 per conversion |
| Dealing spread (average) | – | – | 266% | – |
| Order execution system |
NBBO |
NBBO |
Market
maker |
NBBO |
| Real-time market quotes | Free | Free | No** | Paying |
NBBO = The "National Best Bid and Offer" price as prescribed by the SEC. This is the best price from multiple exchanges and markets. Market maker = the price given by the market maker. The market maker adds a profit margin to the market price. This profit is shared with the broker who gives him the order. Many investors are not aware of this 'invisible' cost. I want to know more about market makers
* Unless the client permanently converts money into USD, DEGIRO charges a 0,25% currency conversion fee per order. When you buy a US share, the EUR is converted into USD. When you sell this US share, the USD are converted back into EUR. For example, you buy and sell 10 shares of Amazon.com at $ 3,300 via DEGIRO. Your cost is $ 82,50 to buy and $ 82,50 to sell. That is a total cost of $ 165 to buy and sell one position!
** These brokers provide free quotes that come from their market maker and not from the market itself. These quotes give an incomplete picture of the market. Clients execute at the prices provided by the market maker. The market maker adds a profit margin to the market price. These are the additional costs when you trade Apple, Tesla, Netflix, Amazon, etc.
We can say with a clear conscience that Freestoxx offers by far the most services.
| FREESTOXX | DEGIRO | Trade Republic | Interactive Brokers | |
| Short selling possible |
Yes |
Yes |
– | Yes |
| Overflow leverage | Yes | Yes | – | – |
| Leverage (intraday) |
4 to 1 |
– | – | 3 to 1 |
| Leverage (overnight) | 2 to 1 | – | – | 2 to 1 |
| Real-time market quotes | Yes | Yes |
No | Paying |
| Negative interest charge | No | No |
No |
No |
| Minimum order size | No | No |
No |
No |
| FREESTOXX | DEGIRO | Trade Republic | Interactive Brokers | |
| Broker since |
1998 |
2013 |
2015 |
1977 |
| Country offices | 6 | 18 | 1 | 11 |
| Depository bank | Bank of Montreal Harris
Bank |
FlatexDEGIRO Bank |
Solaris Bank Trade Republic Bank HSBC Deutschland |
Citibank |
| Credit rating | Fitch AA- | Fitch A+ |