Before You Start
- Be clear about your investment goals (e.g., passive growth, active trading, diversification, or crypto exposure).
- Know your expected investment amount (both initial deposit and ongoing contributions).
- Check your residency and tax status, as some apps have country restrictions within the EU/EEA.
- Be ready to provide identity verification documents (passport/ID, proof of address) when registering with brokers.
- Understand basic investment products: ETFs, stocks, and crypto.
Time needed: 30–60 minutes for research and account setup
What you'll need: Smartphone or computer, valid ID, proof of address, access to your bank account
Step 1: Define Your Investment Goals and Style
The first step in choosing an investing app in Europe is to clarify your objectives. Are you looking to invest for long-term growth (passive), or do you want to actively pick and trade stocks or cryptocurrencies? Your preferences will immediately narrow down your app options.
- Passive investing: Prefer automated, low-maintenance strategies like ETF savings plans or robo-advisors. Example: monthly investing into a global ETF.
- Active investing: Want to buy and sell individual stocks, ETFs, or crypto, and possibly trade frequently.
- Asset focus: Decide if you want access to stocks, ETFs, crypto, or all three. Not all platforms offer all asset classes.
Why this matters: Platforms like DEGIRO and Interactive Brokers are robust for active traders, while Trade Republic and Scalable Capital excel for passive investors with ETF savings plans.
What can go wrong: If you choose an app not suited to your style (e.g., a stock-only broker but you want crypto), you’ll be frustrated and may incur extra costs by switching later.
Step 2: Assess Minimum Deposit and Recurring Investment Options
Next, check the minimum deposit requirements and how easily you can automate recurring investments. This is crucial for building wealth consistently, especially if you’re starting with small amounts.
- Minimum deposit: Some brokers require €1,000+ to open an account (e.g., Interactive Brokers), while others like Trade Republic and Scalable Capital allow you to start with just €1 per trade or savings plan.
- Recurring investments: Look for “ETF savings plans” or “Sparpläne” if you want to automate monthly investing (e.g., €100/month).
Why this matters: If your budget is €50–€100/month, pick a platform with low minimums and automated plans. For example, on Trade Republic, you can set up a savings plan for as little as €1 per execution.
What can go wrong: Choosing a broker with high minimums can prevent you from getting started or force you to wait and save longer before investing.
Pro Tip
If you want to invest small amounts regularly, prioritize apps that offer commission-free ETF savings plans, such as Trade Republic or Scalable Capital. This reduces drag from fees on small investments.
Step 3: Compare Fee Structures and Hidden Costs
Fees eat into your returns, especially with smaller portfolios. Understanding and comparing costs is essential to optimize your long-term gains.
- Trade Republic: €1 per trade or €0 for ETF savings plans. No custody/account fees.
- Scalable Capital: €0–€2.99/month (depending on plan), €0 trades with PRIME Broker, €0 ETF savings plans.
- DEGIRO: €2–€4 per trade (varies by exchange), plus small external handling fees. No inactivity or custody fees.
- Interactive Brokers: €3–€4 minimum per trade (for IBKR Lite), but very low ongoing fees and deep market access. No inactivity fees for EU clients.
Why this matters: High fees can erode the advantage of investing, especially if you buy small amounts or trade frequently.
What can go wrong: Overlooking “hidden” fees like FX conversion charges, account maintenance, or withdrawal fees can surprise you later.
Example: If you invest €100/month in an ETF via Trade Republic’s savings plan, you pay €0 in commissions. On DEGIRO, buying the same ETF monthly may cost €2 per trade, reducing your annual investment by €24.
Pro Tip
Always check if the ETF you want is on your broker’s “free savings plan” list. Some brokers only offer free plans for selected ETFs.
Step 4: Evaluate Product Range and User Experience
Not all apps offer the same selection or usability. Consider both what you can invest in and how easy the platform is to use.
- DEGIRO: Huge range of European/global stocks and ETFs, but no crypto.
- Trade Republic: Large selection of stocks, ETFs, and a curated list of cryptocurrencies. Simple, mobile-first interface.
- Scalable Capital: Wide range of ETFs, stocks, some crypto ETPs. Strong for recurring investors.
- Interactive Brokers: Access to global markets, advanced tools, but complex for beginners.
Why this matters: If you want to diversify into crypto, you’ll need Trade Republic or Scalable Capital. If you want the widest possible international access, Interactive Brokers is superior.
What can go wrong: Picking an app with a limited product range may force you to open additional accounts later, complicating your portfolio.
Step 5: Check Platform-Specific Features and Security
Security, support, and convenience features can make a big difference in your investing experience.
- Security: All major EU brokers are regulated and offer deposit protection (up to €100,000 in most cases), but check their regulator (e.g., BaFin for Germany).
- Support: Do you need phone/chat support in your language?
- Mobile vs. Desktop: Trade Republic is mobile-first; DEGIRO and Interactive Brokers have robust web interfaces. Scalable Capital offers both.
- Other features: Fractional shares (Trade Republic, Scalable), tax reporting (varies), advanced analytics (Interactive Brokers).
Why this matters: Features like fractional investing let you diversify even with small amounts. Good support is key if you’re new or run into issues.
What can go wrong: If you pick a platform with poor support or missing features, you may be left stranded or unable to execute your preferred strategy.
Step 6: Try Before You Commit — Use Demo Accounts or Minimal Deposits
Many European brokers let you open an account and explore the interface before depositing significant funds. Start small, test the app, and confirm it fits your needs.
- Trade Republic: Register, verify, and set up a €1 ETF savings plan to see the workflow.
- DEGIRO: Open an account, navigate the platform, and simulate a trade before depositing larger sums.
- Scalable Capital: Test the app’s ETF savings plan process with a minimal amount.
- Interactive Brokers: Use their “Paper Trading” (demo) environment to practice placing trades.
Expected outcome: You should feel comfortable with the app’s interface, see your first (test) investment, and understand how to fund, buy, and monitor your holdings.
What can go wrong: Committing a large deposit before you’re familiar with the interface or support options can make mistakes costly.
Checklist: How to Choose Your Investing App in Europe
- Is the platform available and regulated in your country?
- Does it offer the assets you want (ETFs, stocks, crypto)?
- Are minimum deposits and recurring investment options compatible with your budget?
- Are the fees transparent and competitive for your usage pattern?
- Is the user experience intuitive for your skill level?
- Does it offer the features you need (fractional shares, tax reports, support)?
- Have you tested the platform with a minimal investment or demo account?
Example Scenarios
-
Scenario 1: Passive investor, €100/month, wants global ETF exposure
Trade Republic or Scalable Capital: Set up an ETF savings plan (e.g., iShares Core MSCI World UCITS ETF, ISIN: IE00B4L5Y983) with €0 commission. Expected outcome: Each month, €100 is invested automatically. -
Scenario 2: Active trader, €5,000 initial deposit, wants to trade US and EU stocks
DEGIRO or Interactive Brokers: Both offer deep stock selection and advanced tools; DEGIRO has simpler onboarding, Interactive Brokers has more markets and lower margin rates. Expected outcome: Ability to trade a wide range of stocks for €2–€4 per transaction. -
Scenario 3: Crypto-curious, wants to add €50/month in Bitcoin
Trade Republic: Offers Bitcoin and other major cryptocurrencies with low fees. Expected outcome: Set up a recurring crypto purchase plan from your app.
For more on building wealth with small amounts, see 8 Rules for Building Wealth with Small Investments in Europe.
Common Mistakes When Choosing an Investment App
- Ignoring minimum deposit or ongoing fee structures.
- Overlooking asset availability (e.g., no crypto or limited ETF range).
- Not checking if the app supports recurring investments for your chosen assets.
- Missing out on demo or test features before depositing large amounts.
- Assuming all brokers offer the same tax reporting or support services.
- Forgetting to verify the platform is regulated and covered by deposit protection.
Next Steps
- Make a shortlist of 2–3 apps based on your needs and test them with small deposits.
- Review your experience: Was it easy to set up an investment? Did you incur any unexpected fees?
- Gradually scale your investments once you’re confident in your platform of choice.
- Consider diversifying across platforms if you want access to more asset classes or features.
- Continue learning — explore topics like money market funds or advanced ETF strategies as your confidence grows.
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.