How to Optimise EUR Currency Conversion Fees on DEGIRO, Trade Republic & Interactive Brokers in 2026

Currency conversion fees can quietly erode your investment returns, especially if you buy assets in USD or GBP from your EUR-based account. In this guide, we’ll break down how DEGIRO, Trade Republic, and Interactive Brokers handle broker EUR currency conversion fees in 2026. You’ll get actionable, step-by-step instructions to reduce these costs, with clear EUR-based examples and platform-specific tips.

For a broader understanding of account setup and funding, see our Complete Guide: How to Open and Fund Your First EUR Brokerage Account in 2026.

Step 1: Understand How Each Broker Charges EUR Currency Conversion Fees

Every broker applies its own method for converting EUR to other currencies. The difference between the “mid-market” rate and what you actually get is often the main hidden cost. Let’s look at the 2026 fee structures for DEGIRO, Trade Republic, and Interactive Brokers.

Broker	Conversion Fee (2026)	Extra Spread?	Minimum/Notes
DEGIRO	0.25% (Auto FX); 10 EUR + 0.03% (Manual FX)	Yes (on top of fee)	Manual FX only for large conversions
Trade Republic	0.25%	No explicit extra spread	Auto conversion only
Interactive Brokers	0.03% (min. 2 EUR)	No (uses real-time interbank rate)	Manual conversion available

Key principle: The lower the fee and the closer the rate to actual market rates, the less you lose on each conversion.

Why It Matters

A 0.25% fee on every EUR→USD conversion may sound small, but on €10,000, that’s €25 lost immediately. Over years and with compounding, these small leaks can cost you hundreds.

What Can Go Wrong?

• Not realising a broker adds a hidden spread on top of the stated fee.
• Forgetting to check if you can batch conversions to save on minimum charges.
• Assuming all brokers offer “manual” conversions (they don’t).

Step 2: Review When and How Each Broker Converts Your EUR

When you buy a USD-denominated ETF or stock, your broker will either:

• Auto-convert: Instantly convert just enough EUR for the transaction, applying their fee.
• Manual conversion: Let you convert a lump sum to USD, store it in a currency wallet, then use it for future purchases (available only at Interactive Brokers and partially at DEGIRO).

Here’s how it works on each platform:

• DEGIRO: By default, all non-EUR trades use “Auto FX” at 0.25%. For larger conversions, you can use “Manual FX” (minimum €10 fee + 0.03%) by contacting support or using the currency conversion tool in your account.
• Trade Republic: Only auto-conversion is available (0.25% fee per transaction). No currency wallet or manual FX.
• Interactive Brokers: You can convert EUR to USD manually in your account (“Convert Currency” tool) at 0.03% (min. €2). Funds are kept in your USD balance for future trades.

Why It Matters

Manual conversions let you batch larger amounts, reducing the impact of minimum fees and giving you control over timing (e.g., if the EUR/USD rate is favourable).

What Can Go Wrong?

• Forgetting to manually convert before placing a non-EUR trade (resulting in auto-conversion at a higher fee).
• Leaving small amounts in foreign currencies, which may be costly to convert back due to minimum fees.

Step 3: Calculate Your Actual Conversion Cost (With EUR Examples)

Let’s compare a €10,000 EUR→USD conversion on each broker in 2026.

Broker	Conversion Type	Total Fee	EUR Received in USD
DEGIRO	Auto FX (0.25%)	€25	€9,975 worth of USD
DEGIRO	Manual FX (10 EUR + 0.03%)	€13	€9,987 worth of USD
Trade Republic	Auto FX (0.25%)	€25	€9,975 worth of USD
Interactive Brokers	Manual FX (0.03%, min. €2)	€3	€9,997 worth of USD

Why It Matters

Knowing your real cost per €10,000 helps you compare brokers and plan your trades. Over time, even a €20 difference per conversion adds up, especially if you rebalance or invest regularly.

What Can Go Wrong?

• Not factoring in the minimum fee at Interactive Brokers for small conversions (e.g., converting €100 costs €2, or 2%).
• Misunderstanding “manual FX” availability—Trade Republic does not offer this feature.

Step 4: Minimise Conversion Fees with Batch Conversions and Currency Wallets

Here’s how to optimise your currency conversions:

1. Batch your conversions: Instead of converting small amounts with every trade, convert a larger sum at once. This reduces the effective percentage of any minimum fee.
2. Use currency wallets: Only available at Interactive Brokers and (partially) DEGIRO. Hold USD or GBP in your account and use it for multiple trades.
3. Time your conversions: If you expect a favourable EUR/USD rate, convert when rates are good (only possible with manual conversions).

Here’s how to do it on each platform:

• Interactive Brokers:
  1. Log in to your account.
  2. Go to Menu → Transfer & Pay → Convert Currency.
  3. Enter the amount of EUR to convert to USD (or another currency).
  4. Confirm the conversion. Funds appear in your USD balance instantly.
  5. When buying a USD asset, select your USD balance as the funding source.

  Expected outcome: You should see the exact conversion rate, fee, and resulting USD amount before confirming.

• DEGIRO:
  1. For large conversions, contact support or use the Currency Conversion Tool (if available in your country).
  2. Specify the amount and request “Manual FX”.
  3. Wait for confirmation and check your USD or GBP balance before trading.

  Expected outcome: Your foreign currency balance is updated; you can use it for multiple trades.

• Trade Republic:
  1. Not available. All conversions are automatic and per-transaction.
  2. You cannot hold foreign currency balances.

  Expected outcome: Each trade involving a non-EUR asset will trigger an auto-conversion at 0.25%.

Why It Matters

Batching and wallets can halve your conversion costs. For frequent investors, savings are significant over time.

What Can Go Wrong?

• Forgetting about minimum fees on small conversions (especially at Interactive Brokers).
• Leaving foreign currency idle for too long, missing investment opportunities.

Step 5: Monitor and Revisit Your Conversion Strategy

Because broker fees and currency policies can change, it’s wise to review your strategy at least annually.

• Check the latest fee schedule for your broker (see their official documentation: DEGIRO Fees, Trade Republic Pricing, Interactive Brokers Commissions).
• Consider switching brokers if your currency needs change. For a full comparison, see Trade Republic vs. DEGIRO vs. Interactive Brokers: Which Is Best for European ETF Investors in 2026?.
• Automate your EUR investments to avoid frequent, small conversions. See How to Automate Your ETF Investments with EUR Savings Plans in 2026.

Common Mistakes

• Assuming all brokers offer the same conversion rates and fees—there are major differences.
• Neglecting to batch conversions, resulting in high effective fees on small trades.
• Overlooking minimum fees (especially at Interactive Brokers for small transactions).
• Leaving small amounts in foreign currencies, which are costly to convert back.
• Not checking if your chosen ETF or stock is available in EUR—sometimes you can avoid FX costs entirely.

Next Steps

• Review your broker’s latest fee schedule and test a sample currency conversion to see the real cost.
• If you regularly invest in non-EUR assets, consider switching to a broker with lower FX fees or better currency wallet features. See our in-depth comparison: Interactive Brokers vs. Trade Republic vs. DEGIRO: 2026 Fees, Features, and EUR User Experience.
• If you’re looking to cut other ETF investing costs, see 5 Ways to Cut ETF Investing Fees With European Brokers in 2026.
• For a step-by-step walkthrough of opening and funding your account, revisit Complete Guide: How to Open and Fund Your First EUR Brokerage Account in 2026.

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.