Before You Start
- Understand basic ETF and stock investing concepts
- Have at least two active broker accounts (e.g., Trade Republic, DEGIRO, Interactive Brokers, Scalable Capital, BUX)
- Be familiar with your country's tax reporting requirements for investment accounts
- Access to a computer or smartphone and reliable internet connection
Time needed: 1-3 hours for initial setup, 30 minutes/month for ongoing management
What you'll need: Broker account logins, spreadsheet software (e.g., Google Sheets), optional: access to portfolio aggregation apps (like GetQuin, Portfolio Performance, or MyTracker)
Managing multiple broker accounts in Europe is more common than ever. Whether you’re optimizing for lower fees, accessing a broader range of ETFs, or diversifying for safety, juggling several accounts comes with unique challenges: tracking costs, collecting tax documents, and keeping your portfolio organized. This guide shows you, step by step, how to efficiently handle multiple platforms as a European investor—using tested tools, real EUR examples, and actionable best practices.
As we covered in our complete guide to building a low-cost European ETF portfolio, choosing the right broker is foundational. But if you’re already running accounts across DEGIRO, Trade Republic, and Interactive Brokers, this deep dive will help you master the next level: seamless multi-broker management.
Step 1: List and Audit Your Broker Accounts
What to do: Make a master list of all your brokerages, account numbers, and what assets you hold in each. Include platforms like DEGIRO, Interactive Brokers, Trade Republic, Scalable Capital, BUX, or any legacy banks.
- Open a spreadsheet (Google Sheets or Excel)
- Create columns: Broker Name, Account Number, Holdings (ETF/Stock), Currency, Account Type (Individual/Joint/ISA), Year Opened
- Fill in details for each account
Why it matters: A clear inventory prevents forgotten assets, missed tax reporting, or duplicated investments. It’s the baseline for cost and risk management.
What can go wrong: Overlooking old or inactive accounts can lead to unclaimed dividends, forgotten fees, or even escheated funds.
Pro Tip
Set a calendar reminder to update your broker list every quarter—especially if you open or close accounts regularly.
Step 2: Aggregate Your Portfolio Using European Tools
What to do: Use a portfolio aggregation tool to view all your holdings in one dashboard. In 2026, the most popular EU-accessible options are:
- GetQuin (official site): Connects directly to most EU brokers via secure APIs. Free and paid plans.
- Portfolio Performance (official documentation): Free, open-source desktop app for manual or CSV-imported tracking.
- MyTracker: Mobile-first, supports portfolio imports and real-time price updates in EUR.
Example: In GetQuin, after registration, go to “Accounts” → “Add Broker” → select “Trade Republic” or “DEGIRO” and follow the bank-grade authentication prompts. Repeat for each broker.
Why it matters: Aggregators save hours of manual reconciliation, especially for rebalancing or tax prep. You see your net EUR exposure, sector splits, and performance at a glance.
What can go wrong: API connections can occasionally break. Always double-check imported data, especially after adding new assets or brokers.
Pro Tip
If your broker isn’t supported for automatic sync, export transaction history as CSV (e.g., in DEGIRO: “Account → Statements → Download CSV”) and import manually into Portfolio Performance.
For more on tracking performance, see our guide: Track Your ETF Portfolio Performance Like a Pro.
Step 3: Track All Costs and Hidden Fees
What to do: Log all account-related costs: commissions, FX fees, custody charges, and inactivity fees. Use your spreadsheet or aggregator’s fee reporting tool.
- In DEGIRO: Go to “Activity → Transactions” and filter for “Fees.”
- In Interactive Brokers: “Reports → Statements → Fees” for a monthly breakdown in EUR.
- In Trade Republic: “Documents → Statements” for a list of all charges.
Record each fee type, date, and EUR amount.
Why it matters: True costs can eat into returns, especially with multiple brokers. Some platforms have hidden FX spreads or inactivity fees that aren’t obvious upfront.
What can go wrong: Missing small recurring fees (e.g., €1/month for custody) can add up to €12-€36 per year, per account.
Pro Tip
Review our detailed breakdown of currency conversion costs in European ETFs to avoid the most common hidden fees when buying non-EUR ETFs.
Step 4: Collect and Organize Tax Documents
What to do: Download all annual tax statements, dividend summaries, and transaction reports for each broker at year-end.
- In DEGIRO: “Documents → Annual Report” (usually available by March each year)
- In Trade Republic: “Documents → Tax Certificate”
- In Interactive Brokers: “Reports → Tax” (choose EUR as the base currency)
Save PDFs in a cloud folder labeled by tax year and broker (e.g., “2025_DEGIRO_Tax.pdf”).
Why it matters: European tax authorities require precise reporting of capital gains, dividends, and withholding taxes—especially if you have cross-border accounts. Missing documents can lead to fines or overpaying tax.
What can go wrong: Some brokers only store documents for a limited time (e.g., 2-3 years). Download and back up files promptly.
Pro Tip
Create a checklist of required tax forms for each country you file in. For example, German residents need the “Jahressteuerbescheinigung”, while French residents need the “Imprimé Fiscal Unique”.
Step 5: Reduce Redundant Fees and Complexity
What to do: Review your accounts for overlapping holdings or unnecessary costs. Consider consolidating assets if you’re paying double custody fees, or if you hold the same ETF in multiple places without a good reason.
- List all ETFs/stocks held more than once. Example: You hold iShares Core MSCI World UCITS ETF (IE00B4L5Y983) in both DEGIRO and Trade Republic.
- Check fee schedules: If Trade Republic charges €0 custody and DEGIRO charges €2.50/month, it may make sense to sell and transfer holdings, if permitted.
- Close inactive accounts: Follow broker instructions for transferring out cash/assets and official account closure.
Why it matters: Fewer accounts mean less paperwork, lower risk of missing deadlines, and easier tax filing. But don’t consolidate blindly—sometimes diversification across brokers is safer or gives you access to unique ETFs.
What can go wrong: Closing accounts without transferring assets can trigger unnecessary taxes or missed dividends. Always check exit fees and lock-in periods.
Pro Tip
Some brokers (e.g., Scalable Capital) offer free incoming transfers of ETFs from other EU brokers—saving you both time and money. Always check with the receiving broker before initiating a transfer.
Step 6: Decide When to Diversify vs. Consolidate
What to do: Assess whether your reasons for multiple accounts still hold. Common reasons to diversify include:
- Access to exclusive ETF listings (e.g., some thematic ETFs only on Interactive Brokers)
- Spreading counterparty risk (in case a broker fails)
- Using different account types (e.g., tax-advantaged ISAs in the UK, regular accounts elsewhere)
Reasons to consolidate include:
- Reducing taxable events and paperwork
- Minimizing duplicated fees
- Streamlining rebalancing and reporting
Set a reminder to review your broker setup every 12 months—or after any major regulatory or fee changes.
Why it matters: The right balance depends on your goals, risk tolerance, and tax situation. There’s no universal answer—review regularly as your life and regulations change.
What can go wrong: Over-diversification leads to complexity and higher fees. Over-consolidation may restrict access to certain products or increase single-platform risk.
Pro Tip
For a broader view of how multi-asset diversification fits into your overall strategy, see our guide on building wealth with European multi-asset ETFs.
Common Mistakes When Managing Multiple Broker Accounts
- Ignoring small fees: These can add up to hundreds of euros annually if left unchecked.
- Missing tax deadlines: Disorganized documents can result in fines or overpayment.
- Duplicating ETFs: Owning the same ETF across several brokers increases complexity without diversification benefit.
- Neglecting account security: Reusing passwords or failing to enable two-factor authentication on all accounts.
- Not checking for platform changes: Fee structures and product availability can change year to year.
Next Steps
- Set up your aggregator and master spreadsheet today—don’t wait until tax season.
- Review all broker fee schedules annually and after any major market or regulatory changes.
- Consider reading our broker comparison to optimize your platform choices.
- For more on portfolio reviews and improvement, see our guide to ETF portfolio reviews.
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.