Before You Start
- Both account holders must be over 18 and legally resident in a European country supported by your chosen broker.
- Valid government-issued IDs (passport or national ID) for all joint applicants.
- Proof of address for each applicant (utility bill, bank statement, or official letter, usually less than 3 months old).
- Tax Identification Numbers (TIN) for each applicant.
- Agreement on account ownership structure (e.g., “and/or” mandate).
Time needed: 30–60 minutes (setup), 1–3 days for verification
What you'll need: Internet access, smartphones (for app-based brokers), scanned documents, joint bank account (recommended)
Opening a joint investment account in Europe is a practical way for couples and families to invest together, streamline wealth management, and plan for shared financial goals. This guide walks you through the process on leading European platforms—Trade Republic, DEGIRO, and Interactive Brokers—while explaining eligibility, required documents, regulations, tax considerations, and risk management. All examples use EUR (€), and the steps are tailored for real-life European investors.
Step 1: Decide if a Joint Account Is Right for You
What to do: Discuss with your partner or family member whether a joint investment account meets your needs. Joint accounts allow two or more people to own and manage assets together, but you must trust each other fully because all parties have access and control.
Why it matters: Joint accounts are efficient for managing shared goals (buying property, saving for children), but they also mean shared responsibility for gains, losses, and taxes.
What can go wrong: Disagreements can arise over investment strategy or withdrawals. In the event of separation or death, ownership and access can be complicated. Make sure you understand your broker’s specific rules for joint accounts (e.g., “and” vs. “or” mandates).
Pro Tip
Document your agreed investment strategy and withdrawal rules in writing—even a simple email. This can prevent disputes later.
Step 2: Choose the Right Broker
What to do: Compare European brokers that support joint accounts. Not all popular platforms offer this feature. Here’s a quick summary:
- Trade Republic: Currently does not support joint accounts (as of June 2024).
- DEGIRO: Supports joint accounts in most European countries. See DEGIRO’s official FAQ.
- Interactive Brokers: Supports joint accounts for EU residents. See Interactive Brokers account types.
Why it matters: Your broker choice affects fees, available markets, tax reporting, and account management features. For a broader comparison, see How to Choose the Right Broker in 2026.
What can go wrong: Opening an individual account by mistake, or choosing a broker that doesn’t support joint accounts can waste time and complicate your investments.
Pro Tip
For joint accounts, DEGIRO and Interactive Brokers are the most accessible options for Europeans. If you need fractional shares, Interactive Brokers is currently the better choice. See our Interactive Brokers tutorial for Europeans for a full walkthrough.
Step 3: Prepare Your Documentation
What to do: Gather the following for each applicant:
- Clear scans or photos of passports or national IDs
- Recent proof of address (utility bill, bank statement, etc.)
- Tax identification numbers
- Joint bank account details (some brokers require this for funding and withdrawals)
Why it matters: Incomplete or mismatched documents are the main reason for rejected applications. Names and addresses must match exactly across all documents.
What can go wrong: Blurry scans, expired IDs, or mismatched addresses can lead to delays or outright rejection.
Step 4: Register for a Joint Account (Platform-Specific Instructions)
Follow the process below for your chosen broker. We’ll use DEGIRO and Interactive Brokers as practical examples, since Trade Republic does not support joint accounts as of 2024.
DEGIRO
- Visit the DEGIRO homepage and select “Open an account”.
- Choose “Joint Account” as the account type.
- Enter personal details for both applicants.
- Upload required documents for both parties (ID, proof of address, TINs).
- Wait for email confirmation and complete any additional verification steps.
- Link a joint bank account for funding.
Expected outcome: You should receive a confirmation email within 1–3 business days, after which you can fund your account.
Interactive Brokers
- Go to the Interactive Brokers account types page and select “Joint Account”.
- Complete the online application, providing details for both account holders.
- Upload identification and proof of address for both applicants.
- Provide tax residency and TIN information for each person.
- Both applicants must electronically sign the application.
- Wait for approval and instructions to fund the account.
Expected outcome: Once approved, your account dashboard will show a “Joint” label. You can now transfer EUR from your joint bank account to begin investing.
Pro Tip
Use a joint bank account for funding and withdrawals to avoid confusion and ensure smooth compliance checks.
Step 5: Understand Joint Account Regulations and Tax Implications
What to do: Review your country’s rules for joint investment accounts. In most EU countries, both account holders are equally responsible for tax reporting on gains, dividends, and interest.
Why it matters: Tax authorities may split gains 50/50 or according to your agreement. Failing to report correctly can lead to penalties.
What can go wrong: If only one person reports the income, you could face double taxation or fines. Some countries (e.g., France, Spain) have strict inheritance and gift rules for joint accounts—check these if you’re planning to pass assets on to children.
Pro Tip
Keep a spreadsheet tracking all contributions and withdrawals by each party. This helps with tax reporting and avoids disputes.
Step 6: Fund Your Joint Account
What to do: Transfer EUR from your joint bank account to your new brokerage account. Both DEGIRO and Interactive Brokers provide EUR deposit instructions in your account dashboard.
Why it matters: Using a joint bank account ensures clarity for the broker and tax authorities on the source of funds. It also prevents “ownership ambiguity” if one party contributes more than the other.
What can go wrong: Funding from an individual account can trigger compliance checks, delays, or even a freeze until you clarify the source.
Expected outcome: Your brokerage account will show the transferred amount in EUR, ready for investing.
Step 7: Make Your First Investment Together
What to do: Decide on your investment strategy (ETFs, stocks, etc.). For joint accounts, low-fee, diversified ETFs are popular.
- On DEGIRO: Go to “Products” → “ETFs” → Search for an ETF (e.g., iShares Core MSCI World UCITS ETF, ISIN: IE00B4L5Y983).
- Enter the amount (e.g., €2,000), select “Buy”, and confirm the order.
- On Interactive Brokers: In Client Portal, go to “Trade” → “Order Entry”, enter the ETF symbol (e.g., IWDA for the same ETF), and submit your order.
Why it matters: Investing together helps you stay aligned and simplifies tracking. Joint accounts also make it easier to automate monthly investments.
What can go wrong: Disagreements on risk or asset allocation can cause tension. Always review and agree before placing trades.
Expected outcome: You should now see your first ETF purchase confirmed in your portfolio, with a value of approximately €2,000 (less fees).
Pro Tip
Both DEGIRO and Interactive Brokers allow you to set up recurring investments (“Investment Plan” or “Recurring Orders”). This is ideal for couples who want to automate monthly contributions, such as €500/month into a broad ETF.
Step 8: Set Up Risk Management and Access Controls
What to do: Agree on how you’ll manage withdrawals, password changes, and emergency access. Use your broker’s security features (two-factor authentication, withdrawal whitelists).
Why it matters: Joint accounts multiply the risk of mistakes or fraud if you don’t coordinate. Strong security reduces the risk of unauthorized actions.
What can go wrong: If one person loses access or acts without the other’s consent, you could lose funds. Document procedures for emergencies (e.g., if one party is incapacitated).
Pro Tip
Enable alerts for all account activity, so both parties get notified of trades, deposits, or withdrawals in real time.
Common Mistakes to Avoid
- Not confirming joint account support: Many brokers don’t offer joint accounts—double-check before starting.
- Using mismatched or outdated documents: This is the top reason for rejected applications.
- Ignoring tax reporting: Both parties must report jointly owned assets and income, even if only one manages the account.
- Funding from individual accounts: Always use a joint bank account to avoid compliance issues.
- Poor communication: Disputes over strategy or withdrawals can undermine your partnership—agree on rules in advance.
Next Steps
- Review your broker’s joint account FAQs and terms before investing large sums.
- Consider setting up a regular investment plan for long-term goals (e.g., €500/month into a global ETF portfolio). For more, see how to build a low-fee dividend ETF portfolio as a European.
- Explore advanced features like fractional shares (see how to buy fractional shares of ETFs as a European investor).
- Revisit your joint account agreement annually to ensure it still fits your family’s needs.
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.