Best European Forex Brokers in 2024: Our Top 10 Picks

In this article, we will provide you with a detailed look into what we consider to be the best online European Forex brokers.

Whether you’re new to trading and looking for a user-friendly platform, or you’re interested in various investment alternative (ETFs, cryptocurrencies, CFDs etc.), getting the best broker is a must.

Before introducing you to our Top 10 picks you should have a good grasp on the history of European Forex Brokers.

History of European Forex Brokers

The European Forex brokers is closely linked to the development of the global foreign exchange market with milestones such as Medieval Europe; where Forex trading has its origins.

Also, it led to the development of the Gold standard Era, Post World war I, Bretton Woods system; which was established in 1944, Modern Forex market, and technological advancements.

Comparing the Top 10 Best European Brokers in 2024

Selecting the top brokers in Europe can be overwhelming, whether or not you have been in Forex this is a fundamental challenge for traders. The top 10 European Brokers are enlisted below;

1. eToro: Ideal for commission-free investment and social trading.
2. Interactive Brokers: Considered the best overall EU broker.
3. XTB: Known for offering low Forex spreads.
4. DEGIRO: Best for long term investors in Europe.
5. Saxo Markets: Preferred by professional traders in Europe.
6. Trading 212: Great for beginners and auto-invest option.
7. Plus 500: Specializes in CFDs.
8. OANDA: Best for beginners.
9. AVA-Trade: Best for day trading.
10. XM: Best for customer services.

Best Brokers in Europe – Comparison Table

eToro

• Fees on US Stocks: $0
• Interest Offered: Up to 5.3% in USD.
• Products: Stocks, ETFs, cryptocurrencies (only crypto CFDs in some countries), and CFDs on stocks, ETFs, commodities, Forex, indices.
• Minimum Deposit: $50 (varies by country).

Interactive Brokers

• Fees on US Stocks: Tiered plan up to $0.0035 per share, Min. $0.35; Max. 1% of trade value.
• Interest Offered: EUR: 3.195%; USD: 4.83%; GBP: 4.707% (as of June 2024). Only applicable to accounts with a Net Asset Value (NAV) above USD 100,000 (or equivalent); accounts with NAV below USD 100,000 receive interest proportional to the account size. No interest on the first USD 10,000 of cash.
• Products: Stocks, ETFs, options, futures, Forex, commodities, bonds, and funds.
• Minimum Deposit: €/$/£0.

XTB

• Fees on US Stocks: €0 for up to €100,000 in monthly volume transactions (only applicable in some countries).
• Interest Offered: EUR: 4.20% for the first 90 days, then 2.00%; USD: Up to 5% for the first 90 days, then 2.50%; GBP: 5.20%.
• Products: Stocks, ETFs, Forex, and CFDs on stocks, ETFs, indices, cryptocurrencies, and commodities.
• Minimum Deposit: €/$/£1

DEGIRO

• Fees on US Stocks: €/£1 + €/£1 flat handling fee
• Interest Offered: 0%
• Products: Stocks, ETFs, investment funds, futures, leveraged products, bonds, and warrants.
• Minimum Deposit: €/£1

Plus500

• Fees on US Stocks: $0.006 per share (on Plus500 Invest only).
• Interest Offered: 0%
• Products: Stocks (Plus500 Invest) and CFDs on indices, Forex, commodities, cryptocurrencies, shares, options, and ETFs.
• Minimum Deposit: €/$/£100

Saxo

• Fees on US Stocks: From 0.03% (min. $1), depending on account type.
• Interest Offered: USD: Up to 4.08%; EUR: Up to 2.66%; GBP: Up to 3.95% (as of June 2024). Interest rates are only paid above the first $/€/£10,000 in cash.
• Products: Stocks, ETFs, bonds, mutual funds, crypto ETPs, options, futures, Forex, Forex options, crypto FX, CFDs, and commodities.
• Minimum Deposit: $0 to 10,000,depending on the country;/€2,000 for international accounts; £500 (UK).

Trading 212

• Fees on US Stocks: €/£0
• Interest Offered: EUR: 4.20%; USD: 5.10%; GBP: 5.20%.
• Products: Stocks, ETFs, Forex, CFDs on stocks, crypto, indices, and ETFs. Fractional shares, automatic investment system.
• Minimum Deposit: €/£10

Conclusion

Choosing the best broker that is available for your region, although might seem like long protocol, is actually very essential

It helps you get the most suitable broker that can work for you and prevent restrictions.

If you’re a Nigerian, you can check out our list of brokers available for Nigerians.

And if you reside in the UAE, we also compiled a list of best brokers for you.