Choosing the right broker is one of the most impactful financial decisions you will make as an expat investor in the Netherlands. The differences in fees, available ETFs, tax reporting, and user experience can save — or cost — you thousands of euros over time.
We have compared the four most popular brokers for expats: DeGiro, Interactive Brokers (IBKR), Trade Republic, and Saxo. Here is how they stack up.
Quick Comparison Table
Here is a high-level overview before we dive into the details:
- DeGiro — Best for beginners; lowest fees for European ETFs
- Interactive Brokers — Best for advanced investors; global market access
- Trade Republic — Best mobile experience; great for savings plans
- Saxo — Best for research and analysis tools
DeGiro
DeGiro is the dominant broker in the Netherlands and across Europe, with over 2.5 million clients. Founded in Amsterdam, it has built its reputation on ultra-low fees and simplicity.
Fees
- Account fee: €0 (connectivity fee of €2.50/year per exchange used was removed)
- Core Selection ETFs: €0 commission (conditions apply — one free transaction per month per ETF, or any amount in the same direction)
- Other ETFs: €2 + 0.03% per transaction
- US stocks: €1 per transaction
- European stocks: €3.90 per transaction
ETF Selection
DeGiro's Core Selection includes approximately 200 commission-free ETFs from providers like Vanguard, iShares, and Amundi. Popular choices like VWCE (Vanguard FTSE All-World Accumulating) and IWDA (iShares Core MSCI World) are included.
Pros and Cons
- Pros: lowest fees for core ETFs, simple interface, good Dutch tax integration, regulated by BaFin and AFM
- Cons: no fractional shares, limited research tools, no savings interest on cash, basic order types
Interactive Brokers (IBKR)
Interactive Brokers is the broker of choice for experienced investors who want access to global markets. Based in the US with a European entity (IBKR Ireland), it offers unparalleled breadth.
Fees
- Account fee: €0
- ETF/stock trades: tiered pricing starting at €1.25 for European markets, $0.0035/share for US markets (minimum $0.35)
- Currency conversion: $2 minimum (0.002% of the amount)
- Cash earns interest: competitive rates on uninvested cash above a threshold
ETF Selection
IBKR offers access to virtually every ETF listed on major exchanges worldwide — including US-listed ETFs that are normally restricted for EU retail investors (through options or professional account status). For most expats, the European-listed equivalents of US ETFs are readily available.
Pros and Cons
- Pros: global access, multi-currency accounts, fractional shares, advanced tools, interest on cash, excellent for US expats
- Cons: complex interface, steep learning curve, customer support can be slow, tax reporting requires more manual work
Trade Republic
Trade Republic is the fastest-growing broker in Europe, having expanded from Germany across the continent. It combines brokerage with banking features, including an attractive interest rate on uninvested cash.
Fees
- Account fee: €0
- ETF savings plans: €0 commission (set up recurring purchases)
- Individual ETF/stock trades: €1 flat fee
- Savings interest: competitive rate on uninvested cash (check current rate on their website)
ETF Selection
Trade Republic offers approximately 2,000+ ETFs from major providers. All ETFs are available for free savings plans. Trades execute on the Lang & Schwarz Exchange, which generally provides competitive pricing during market hours but may have wider spreads outside peak times.
Pros and Cons
- Pros: beautiful app, free savings plans, fractional shares from €1, savings interest, German banking license with deposit protection
- Cons: only mobile app (no desktop platform), single exchange, limited order types, no real-time data on free tier
Read our full Trade Republic review for a deeper analysis.
Saxo
Saxo (formerly Saxo Bank, now Saxo) is a Danish broker that has been operating for over 30 years. It targets investors who want professional-grade tools and research alongside their portfolio.
Fees
- Account fee: €0 (custody fee of 0.15%/year on investments may apply with a minimum)
- ETF/stock trades: from €2 for European markets; from $1 for US markets
- Currency conversion: 0.25% (higher than IBKR)
ETF Selection
Saxo provides access to a wide range of ETFs across European and international exchanges. Their platform includes extensive screening and research tools to help you find the right funds.
Pros and Cons
- Pros: excellent research and analysis, professional platform, good customer support in English, regulated in multiple jurisdictions
- Cons: higher fees than DeGiro and Trade Republic, custody fee can add up, less intuitive for beginners
Tax Reporting Comparison
For Dutch tax purposes, you need to report the total value of your investments on January 1 each year for Box 3 wealth tax.
- DeGiro: provides a clear annual tax overview document specifically designed for the Dutch tax return
- Trade Republic: provides a tax overview, though it may require some manual mapping to Dutch tax form fields
- Saxo: provides a tax report that works well with the Dutch system
- IBKR: provides detailed activity statements, but you may need to manually extract the January 1 values for your Dutch return
Which Broker Should You Choose?
Choose DeGiro if: you want the simplest, cheapest way to invest in ETFs with good Dutch tax integration. Perfect for beginners and intermediate investors focused on European-listed ETFs.
Choose IBKR if: you want access to global markets, need multi-currency accounts, or are an experienced investor who values advanced tools. Ideal for US expats or those with complex international portfolios.
Choose Trade Republic if: you prefer a mobile-first experience, want free savings plans, and appreciate the convenience of earning interest on uninvested cash in the same app.
Choose Saxo if: you value research tools and a professional platform, and the slightly higher fees are worth the better analysis and customer support.
Many expats end up using two brokers — for example, DeGiro for their core ETF portfolio and IBKR for accessing specific international markets. There is no rule against this, and it can give you the best of both worlds.
For more on building your investment strategy, see our guide on how to start investing as an expat.