🏦 Best Brokers
Comparison of the most recommended brokers for individual investors. Each one has its ideal profile — there is no universal "best", it depends on what you want to invest in and how much.
How to choose? If you want index funds (with tax deferral on transfers), choose MyInvestor. If you want automated ETFs (commission-free investment plans), choose Trade Republic. If you have a large portfolio and go global, choose Interactive Brokers. If you want everything managed for you, choose Indexa Capital.
MyInvestorTop
Ideal for: Individual investors looking for index funds, ETFs and pension plans with low fees
Fees
Index fund buy/sell with no commission. ETFs and stocks from 0.12% (min 1.5€). Interest-bearing account at 1-2%.
Catalog
Over 1,500 index funds (Vanguard, Amundi, iShares, Fidelity), thousands of UCITS ETFs, European and US stocks, index pension plans.
Pros
- ✓Comprehensive catalog of index funds from top managers
- ✓No custody or maintenance fees
- ✓Perfect tax integration with the Spanish tax authority (AEAT)
- ✓Free interest-bearing account for cash parking
- ✓Platform with Spanish-language support
- ✓Tax deferral on fund transfers (key advantage of funds vs ETFs)
Cons
- ·For ETFs there are cheaper options (DEGIRO, Trade Republic)
- ·Less fundamental analysis information than IBKR
- ·Mobile app could be improved
Regulation: Spanish Deposit Guarantee Fund (up to 100,000€). CNMV. Subsidiary of Andorran bank Andbank.
Trade RepublicTop
Ideal for: Those who want automatic ETF investment plans with no commissions and an interest-bearing account at 2%+
Fees
One-off trades 1€. Recurring investment plans (DCA): 0€ commission. Interest-bearing account currently at ~2% APY.
Catalog
Thousands of UCITS ETFs, ~9,000 European and US stocks, derivatives, cryptocurrencies, bonds. Limited funds.
Pros
- ✓Automatic ETF investment plans with no commissions (minimum 1€)
- ✓Interest-bearing account with competitive rate, no conditions
- ✓Intuitive and fast-loading mobile interface
- ✓Easy access to US stocks and individual bonds
- ✓Ability to buy fractional shares
Cons
- ·No traditional index funds — only ETFs
- ·No tax deferral on transfers (legal limitation of ETFs)
- ·Support only via chat (no phone)
- ·Some tax forms must be downloaded manually
Regulation: German bank regulated by BaFin. German Deposit Guarantee up to 100,000€. Accounts held at Deutsche Bank and JPMorgan.
Interactive Brokers (IBKR)
Ideal for: Advanced investors with large portfolios seeking global access and minimal commissions
Fees
European stocks: 0.05% (min 1.25€). US: $0.0035/share (min $0.35). No custody or inactivity fees since 2021.
Catalog
The largest in the world: stocks, ETFs, options, futures, forex, bonds, funds from virtually any market on the planet (135 markets, 33 countries).
Pros
- ✓The lowest commissions on the market (by far)
- ✓Access to virtually any market in the world
- ✓Excellent for investors with very long horizons and large volumes
- ✓Very powerful TWS (Trader Workstation) platform
- ✓Multi-currency account with interbank conversion rates
Cons
- ·Steep learning curve — the interface is not for beginners
- ·Limited Spanish-language support
- ·No integration with the Spanish tax return (you must handle Modelo 100 and possibly 720 yourself)
- ·Manual tax reporting
Regulation: IBKR Ireland Limited regulated by the Central Bank of Ireland. Irish investor protection scheme (up to 20,000€) + private insurance up to $30M.
DEGIRO (flatex)
Ideal for: Individual investors who want ETFs and European stocks with low fees and simplicity
Fees
EU stocks: 1€-3€ per trade. ETFs: variable, but there is a 'Core Selection' ETF list at 1€/trade (1 per month free).
Catalog
UCITS ETFs, European and US stocks, bonds, listed products. NO index funds.
Pros
- ✓Much simpler interface than IBKR
- ✓Free ETF list (Core Selection) very convenient
- ✓Competitive fees for occasional trades
- ✓Good for mixing ETFs + European stocks
Cons
- ·No index funds (only ETFs and stocks)
- ·Some hidden fees on US markets
- ·Incomplete Spanish tax reporting — you may need Modelo D-6 / 720 if you hold >50,000€
- ·Non-interest-bearing cash account
Regulation: DEGIRO is now part of flatexDEGIRO Bank AG (German bank regulated by BaFin). Guarantee up to 100,000€.
Indexa Capital
Ideal for: Those who want to delegate 100% — a robo-advisor that creates and automatically rebalances the portfolio
Fees
Total fee ~0.43% TER (includes Indexa management + underlying Vanguard fund fees).
Catalog
Automatic portfolios with Vanguard index funds. Pension plan, investment fund, EPSV, life insurance.
Pros
- ✓100% passive: you contribute, they manage, rebalance and buy
- ✓Very low total fee for a managed service
- ✓Automatic allocation based on your risk profile (initial test)
- ✓Pension plan with automatic contribution plans
- ✓Clean tax reporting on the Spanish tax return
Cons
- ·Less control: you don't choose individual funds
- ·Minimum initial investment 3,000€
- ·For DIY investors, it's cheaper to do it manually on MyInvestor
Regulation: IIC management company regulated by the CNMV. Funds held at Inversis Banco.
Informational comparison based on publicly available data as of today. Fees, catalogs and promotions change frequently. Always verify on the broker's official website before opening an account. This does not constitute a recommendation of any specific broker.Back to home →