Beginner’s Guide: Setting Up Your First Investing App in Europe

Curious about how to start investing app Europe? You’re not alone. With easy-to-use platforms like Trade Republic and DEGIRO, European investors can start buying ETFs and stocks with just a few taps. In this tutorial, you’ll go step-by-step through the process of setting up your first investing app, verifying your identity, funding your account in EUR, and making your first investment—plus security tips and common pitfalls to avoid.

Step 1: Choose a European Investing App

First, select a reputable investing app that’s accessible in your country and supports EUR deposits. Popular choices for European investors include:

• Trade Republic (Germany-based, mobile-first, regulated by BaFin)
• DEGIRO (Netherlands-based, web and app, regulated by Dutch AFM)

Why this matters: Using a regulated, European-focused broker ensures legal protection, EUR funding, and easy tax reporting.

What can go wrong: Some apps are not available in all EU countries. Always check local availability and regulatory status.

Step 2: Download and Install the App

Once you’ve picked your platform:

1. Go to the App Store (iOS) or Google Play (Android).
2. Search for your chosen app (e.g., “Trade Republic” or “DEGIRO”).
3. Download and install the official app.

Why this matters: Only install official apps to avoid scams or phishing.

What can go wrong: Downloading fake apps with similar names. Double-check the developer and number of downloads.

Step 3: Register and Verify Your Identity (KYC)

All regulated European brokers must comply with KYC (Know Your Customer) laws. Here’s how to complete this step:

1. Open the app and select “Create Account” or “Register”.
2. Enter your email, create a password, and provide your personal details (name, address, date of birth, TIN).
3. Upload a photo or scan of your government-issued ID.
4. Follow any prompts for a selfie or short video (used to match your ID).
5. Complete additional questionnaires about your investing experience and risk tolerance.

Why this matters: KYC protects you against fraud and is legally required before you can trade or deposit funds.

What can go wrong: Blurry photos, expired IDs, or mismatched information can delay verification.

Step 4: Secure Your Account

Before depositing money, set up strong security:

1. Enable two-factor authentication (2FA) in the app’s settings.
2. Choose a strong, unique password and store it in a password manager.
3. Review security notifications and enable biometric login if available.

Why this matters: Investing apps handle real money. 2FA and strong passwords protect your assets from hackers.

What can go wrong: Reusing passwords or skipping 2FA leaves you vulnerable to account theft.

Step 5: Set Up EUR Deposit

Now you’re ready to fund your account. Here’s how to deposit EUR:

• Trade Republic: Tap “Profile” → “Deposit” → Select “Bank Transfer”. You’ll see your unique IBAN. Use your banking app to send EUR to this IBAN, including your reference code.
• DEGIRO: Log in and go to “Deposit/Withdraw” → “Deposit Money”. Select your linked bank account and follow the instructions for SEPA transfer.

Why this matters: Using SEPA (Single Euro Payments Area) ensures fast, low-cost EUR transfers within Europe.

What can go wrong: Sending money from an account not in your name can delay or block the deposit. Always use your own bank account.

Step 6: Make Your First Investment (ETF Example)

With funds available, you can now buy your first asset. For beginners, a broad ETF (Exchange-Traded Fund) is often a good starting point. Here’s a step-by-step example using Trade Republic:

1. Tap “Search” and enter iShares Core MSCI World UCITS ETF (ISIN: IE00B4L5Y983).
2. Select the ETF from results. Tap “Buy”.
3. Enter the amount you want to invest (e.g., €100). Trade Republic allows fractional ETF purchases.
4. Review the order summary, including fees (usually €1 per trade).
5. Confirm your purchase.

Expected outcome: You should now see your first ETF purchase confirmed in your portfolio, with a value of approximately €100 (minus fees).

Why this matters: ETFs offer instant diversification, lower risk, and are recommended for beginners.

What can go wrong: Trading outside market hours can delay execution. Double-check the ISIN to avoid buying the wrong fund.

Want to learn more about this approach? See How to Start Dollar-Cost Averaging into ETFs as a European Investor.

Step 7: Track and Manage Your Portfolio

After your first trade, monitor your investments:

• Check your portfolio in the app to see current value, performance, and allocation.
• Set up price alerts or notifications for your holdings.
• Review your account statements and tax documents (available in-app or via email).

Why this matters: Staying informed helps you build good investing habits and spot any issues early.

What can go wrong: Ignoring your portfolio can lead to missed opportunities or unnoticed fees.

Common Mistakes When Setting Up an Investing App

• Using someone else’s bank account: Always deposit from your own EUR account; otherwise, transfers may be rejected.
• Skipping KYC steps: Incomplete verification means you can’t trade or withdraw funds.
• Ignoring security: Not enabling 2FA or using weak passwords increases your risk of hacking.
• Buying the wrong asset: Double-check ISIN codes and ETF names to avoid errors.
• Forgetting about fees: Always review the cost per trade and any custody fees before investing.
• Assuming instant deposits: Most SEPA transfers take 1 business day. Plan ahead to avoid missed opportunities.

Next Steps: Growing as a European Investor

Congratulations! You’ve set up your first investing app and made your initial trade. Here’s how to keep building your skills:

• Consider automating your investments with a monthly savings plan.
• Explore other asset classes, such as European dividend stocks or international equities.
• Learn how to buy US stocks from Europe with our step-by-step guide.
• Stay informed about tax rules in your country—most apps provide tax reports, but you are responsible for reporting income.

Investing is a journey. Start small, keep learning, and always focus on security and good habits.

Disclaimer: This article is for educational purposes only and does not constitute financial advice. Always do your own research and consider consulting a qualified financial advisor before making investment decisions.