Ranking

Cheapest brokers 2026

This ranking weights cost harder than anywhere else on the site — but not blindly. A broker that zeroes the commission and claws it back through payment for order flow, FX markups or withdrawal fees is not cheap, only opaque. We fold ancillary costs in and keep safety as a corrective: the lowest price is worthless if the money is not protected.

Investor's country

Shows only brokers that accept clients from the selected country.

brokers rated: 40
Data as of: 30 Aug 2026

Country of residence:No country of residence chosen — all offers are shown.

Lowest cost

The top 3 in detail

Why these three lead — derived from the criteria this category weights most heavily.

Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.

Interactive Brokers

The cheapest serious route to almost every market on earth — if you can live with the learning curve.

Ahead on Fees (4.9) and Safety & regulation (4.8) — together those two carry 75% of this category's weighting.

US stocks from USD 0.0035 per share on the Tiered plan, minimum USD 0.35 per order and capped at 1% of trade value
Currency conversion at 0.20 basis points (minimum USD 2) — an order of magnitude cheaper than most European brokers' 0.25%–1.5%
Roughly 160 market destinations in 36 countries from a single multi-currency account, with 28 settlement currencies
No inactivity fee since 2021, plus no custody fee and no platform fee

Group index 90/100Protection depends on your legal entity

SECFCACBIASIC

StocksETFsOptionsFuturesForexCFDsCryptoBonds+4

4.7

Category score

Overall score: 4.5 / 5

Strengths in this category

Fees55%

4.9

Safety & regulation20%

4.8

Trading platform10%

4.8

Deposit & withdrawal9%

4.0

Stocks (per order): 0.05 %
Minimum deposit: None
FX conversion: 0 %

Open account Read review

Investing involves risk. Your capital is at risk.

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Charles Schwab

The full-service US giant that also owns thinkorswim, a professional-grade trading platform.

4.6

Ahead on Safety & regulation (4.9) and Trading platform (4.8) — together those two carry 30% of this category's weighting.

USD 0 commission on every online listed US stock and ETF order, with no share cap and no proprietary-fund restrictions
thinkorswim desktop, web and mobile are included free — full options chains, thinkScript, backtesting and paperMoney simulation
Options at USD 0.65 per contract, with the fee waived on buy-to-close orders at USD 0.05 or less

Group index 93/100Protection depends on your legal entity

SECFINRA

StocksETFsOptionsFuturesForex+4

Strengths in this category

Fees55%

4.6

Safety & regulation20%

4.9

Trading platform10%

4.8

Stocks (per order): Free
Minimum deposit: None
FX conversion: 1 %

Open account Read review

Investing involves risk. Your capital is at risk.

Fidelity Investments

The research-and-education benchmark for US investors, with the cheapest funds in the industry attached.

4.6

Ahead on Fees (4.7) and Safety & regulation (4.7) — together those two carry 75% of this category's weighting.

USD 0 online US stock and ETF commissions, and Fidelity does not accept payment for order flow on equity orders
Zero-expense-ratio index mutual funds (the FZROX family) — no other major US broker matches this on fund cost
Options exercise and assignment cost USD 0, and buy-to-close orders at USD 0.65 or less are free

Group index 73/100Protection depends on your legal entity

SECFINRA

StocksETFsOptionsCryptoBonds+2

Strengths in this category

Fees55%

4.7

Safety & regulation20%

4.7

Trading platform10%

4.5

Stocks (per order): Free
Minimum deposit: None
FX conversion: 1 %

Open account Read review

Investing involves risk. Your capital is at risk.

Also worth a look

Rank 4 and below, ordered by category score.

Pepperstone

4.4

Raw spreads and five platforms for traders who care about execution cost, not about owning the asset.

Active FX traders
Scalping and day trading

From 0.0 pips — Raw spreads from 0.0 pips with commission

Stocks (per order): 0.1 % (CFD)
Minimum deposit: US$10
FX conversion: n/a

StocksETFsForexCFDs+5

Pros: Razor all-in EUR/USD cost of about 0.8 pips - a 0.0 to 0.1 pip raw spread plus USD 3.50 per lot per side
Cons: Everything is a CFD. You never own the share or ETF, so there are no voting rights, no transferable holdings and no dividend tax reclaim

Group index 82/100

FCAASIC

Protection depends on your legal entity

Visit broker Read review

moomoo

4.3

One of the most data-rich free trading platforms on the market — if you happen to live in one of the seven countries it serves.

Data-driven active traders
US options traders

Stocks (per order): Free
Minimum deposit: None
FX conversion: n/a

StocksETFsOptionsFutures+3

Pros: Free Nasdaq TotalView Level 2 depth on the US platform — Webull charges USD 3.99 per month for comparable data
Cons: Available to residents of only seven countries — the United States, Canada, Singapore, Australia, Japan, Malaysia and New Zealand — with no EU, UK or DACH entity

Group index 86/100

FINRAMAS

Protection depends on your legal entity

Visit broker Read review

IC Markets

4.2

One of the cheapest routes to raw institutional FX pricing - as long as you check which entity you are signing with.

Algorithmic and EA traders
Scalping and high-frequency FX

Stocks (per order): 0.1 % (CFD)
Minimum deposit: €200
FX conversion: n/a

StocksFuturesForexCFDs+5

Pros: All-in EUR/USD cost of roughly 0.6 to 0.8 pips on Raw Spread - a 0.0 to 0.1 pip raw spread plus USD 3.50 per lot per side
Cons: Most non-EU, non-Australian clients contract with Raw Trading Ltd under Seychelles licence SD018 - an offshore regulator with no investor compensation scheme behind it

Group index 70/100

ASICCySEC

Protection depends on your legal entity

Visit broker Read review

Capital.com

4.3

A polished retail CFD platform in Europe, provided you accept that CFDs are the whole product.

Active CFD traders
Forex day trading

Stocks (per order): in the spread
Minimum deposit: US$20
FX conversion: 0.7 %

StocksETFsForexCFDs+4

Pros: No commission on any CFD and no inactivity fee whatsoever — unusual in the CySEC/FCA CFD segment
Cons: 0.7% currency conversion markup on every trade settled outside your base currency — the single largest hidden cost here

Group index 77/100

FCAASIC

Protection depends on your legal entity

Visit broker Read review

Questrade

4.2

Canada's biggest independent broker, now genuinely commission-free — with a 1.5% currency spread as the sting in the tail.

Canadian self-directed investors
Registered account investing (TFSA, RRSP, FHSA, RESP)

Stocks (per order): Free
Minimum deposit: None
FX conversion: 1.5 %

StocksETFsOptionsForex+6

Pros: CAD 0 commission on every Canadian and US stock and ETF trade, on both the buy and the sell side, with no ECN fees at all on Canadian orders
Cons: The 1.5% CAD/USD conversion charge is high and unavoidable unless you deliberately manage currency; on a CAD 20,000 US-stock purchase it costs CAD 300, dwarfing any commission saving

Group index 76/100

CIROOSC

Protection depends on your legal entity

Visit broker Read review

tastytrade

4.2

An options-specialist US broker: USD 1 per contract to open, closing commission-free — built by people who trade premium for a living.

Options premium sellers
High-volume multi-leg traders

USD 0 to close — No commission to close options positions

Stocks (per order): Free
Minimum deposit: None
FX conversion: n/a

StocksETFsOptionsFutures+5

Pros: Equity options are USD 1 per contract to open, USD 0 to close and capped at USD 10 per leg — large multi-leg orders scale for free
Cons: FINRA censured and fined tastytrade USD 850,000 in 2026 for failing to run adequate best-execution reviews on equity orders routed to five payment-for-order-flow market makers between 2020 and 2023

Group index 82/100

FINRASEC

Protection depends on your legal entity

Visit broker Read review

Risk warning: investing in securities involves risk. You may lose some or all of the capital you invest.

Trading 212

4.1

One of the cheapest mainstream ways to buy stocks and ETFs in Europe - 0% commission, 0.15% FX, and almost nothing else to pay.

Low-cost ETF investing
Monthly savings plans

EUR 8–100 reward — Reward via promo link or promo code

Note: this button leads to the Trading 212 home page and is not a promo link. The reward is only available through a promo link, or a promo code you enter no later than ten days after opening the account.

Stocks (per order): Free
Minimum deposit: €1
FX conversion: 0.15 %

StocksETFsForexCFDs+3

Pros: One of the lowest all-in costs among mainstream European brokers for buy-and-hold investors: no commission, no custody fee, no inactivity fee, free withdrawals with no minimum, and a 0.15% FX conversion fee.
Cons: Research is the weakest of any broker at this size. There is no meaningful screener, no analyst consensus, no fundamental data worth the name and no export tooling - you will make every decision using data from somewhere else.

Group index 75/100

FCABaFin

Protection depends on your legal entity

Visit broker Read review

DEGIRO

4.0

A low-cost route to owning shares outright in Europe - provided you never need anyone to hold your hand.

Buy-and-hold ETF investors
Options and futures traders

EUR 0 commission + EUR 1 handling — Core ETF selection without commission

Stocks (per order): €3
Minimum deposit: €0.01
FX conversion: 0.25 %

StocksETFsOptionsFutures+6

Pros: ETF Core Selection trades cost EUR 0 commission plus the EUR 1.00 handling fee - among the cheapest ETF execution available to EU retail investors.
Cons: The EUR 1.00 handling fee lands on almost every order, so a EUR 200 ETF purchase costs 0.5% before anything else. DEGIRO is cheap per order, not cheap per euro invested.

Group index 81/100

BaFinAFM

Protection depends on your legal entity

Visit broker Read review

Risk warning: investing in securities involves risk. You may lose some or all of the capital you invest.

XTB

4.3

One of the strongest trading platforms in the commission-free bracket - xStation 5 is a professional workspace attached to a zero-commission share account.

Serious charting on a budget
Commission-free European stocks

0% — 0% commission on stocks and ETFs up to the monthly volume cap

Stocks (per order): Free
Minimum deposit: None
FX conversion: 0.5 %

StocksETFsOptionsForex+4

Pros: xStation 5 is one of the strongest platforms in the commission-free bracket - a real screener, market heat map, sentiment data, economic calendar and news in one workspace, on web, desktop and mobile with near-identical features.
Cons: The 0.5% currency conversion charge (0.8% at weekends and on public holidays) applies whenever the instrument currency differs from your account currency. For a EUR investor buying US stocks it is charged on the way in and again on the way out, and it dwarfs the commission it replaces.

Group index 72/100

FCAKNF

Protection depends on your legal entity

Visit broker Read review

Nordnet

4.2

The Nordic default: a listed Swedish bank with SEK 1 minimum commissions — if you live in the right four countries.

Nordic residents
Long-term ISK savers

Stocks (per order): tiered
Minimum deposit: None
FX conversion: 0.25 %

StocksETFsOptionsFutures+4

Pros: Commission from 0.25% with a SEK 1 minimum on Nordic orders up to SEK 15,600 — small monthly share purchases are genuinely viable
Cons: Residents of Sweden, Norway, Denmark and Finland only — there is no route in from Germany, Austria, Switzerland or the rest of the EU

Group index 93/100

Protection depends on your legal entity

Visit broker Read review

Risk warning: investing in securities involves risk. You may lose some or all of the capital you invest.

Qtrade Direct Investing

4.1

Canada's best-researched discount broker — now commission-free, still let down by its mobile app.

Research-driven stock and ETF investors
Mutual fund investors

Stocks (per order): Free
Minimum deposit: None
FX conversion: n/a

StocksETFsOptionsBonds+2

Pros: CAD 0 commission on equities, ETFs and mutual funds alike — the only Canadian broker of the three to make mutual funds free as well
Cons: Cash pays 0.00% on every balance up to CAD 2,000,000 — on a CAD 25,000 cash buffer that is roughly CAD 1,100 a year of foregone interest against a Wealthsimple chequing balance

Group index 76/100

CIROBCSC

Protection depends on your legal entity

Visit broker Read review

ThinkMarkets

4.1

Raw-spread pricing, six licences and a strong mobile app - held back by its withdrawal record.

Active FX traders
Mobile-first traders

Stocks (per order): in the spread (CFD)
Minimum deposit: None
FX conversion: n/a

StocksETFsForexCFDs+4

Pros: ThinkZero all-in EUR/USD cost of about 0.8 pips - raw spreads from 0.0 pips plus USD 3.50 per lot per side on forex and metals
Cons: 75 percent of ThinkMarkets UK retail accounts lose money trading CFDs, and disclosures across the group's entities have ranged from roughly 68 percent to 89 percent

Group index 79/100

FCAASIC

Protection depends on your legal entity

Visit broker Read review

Quick comparison

The numbers that decide this category, side by side. Scroll right on narrow screens for every column.

Cheapest brokers — Quick comparison
Broker	Category	Overall	Fees55%	Safety & regulation20%	Trading platform10%	Stocks (per order)	Minimum deposit	Regulation	Action
1Interactive Brokers	4.7	4.5	4.9	4.8	4.8	0.05 %	None	SECFCA, CBI, ASIC, MAS	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
2Charles Schwab	4.6	4.6	4.6	4.9	4.8	Free	None	SECFINRA, FDIC	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
3Fidelity Investments	4.6	4.6	4.7	4.7	4.5	Free	None	SECFINRA, FDIC	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
4Pepperstone	4.5	4.4	4.6	4.4	4.6	0.1 % (CFD)	US$10	FCAASIC, BaFin, CySEC, DFSA, SCB, CMA	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
5moomoo	4.4	4.3	4.5	4.3	4.6	Free	None	FINRAMAS, ASIC, CIRO, SC	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
6IC Markets	4.4	4.2	4.7	3.9	4.5	0.1 % (CFD)	€200	ASICCySEC, FSCA, FSA, SCB, CMA	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
7Capital.com	4.3	4.3	4.4	4.3	4.3	in the spread	US$20	FCAASIC, CySEC	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
8Questrade	4.3	4.2	4.4	4.2	4.4	Free	None	CIROOSC	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Our methodology

How we build this ranking

No editorial gut feeling — a published calculation. This category shifts the weights of our rating model towards what its audience actually needs.

Weighting in this category

40 brokers rated

The pale tick marks the weight in the general Brokaro model.

Category weight
Base model

The formula

The category score is 70% the category-specific weighting and 30% the general overall score. A strong all-rounder therefore does not drop out simply because it fails to lead one single criterion.

Category score = 0.7 × Σ(w_i × s_i) + 0.3 × Overall score

Full methodology

Requirements to be listed

No pre-filter: every broker we assigned to this category is rated.

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