Interactive Brokers vs DEGIRO
Interactive Brokers vs DEGIRO: which is the better broker for global investors?
Same portfolio at both providers: USD 50,000 to start, USD 500 a month, 5% a year, held for 30 years. Interactive Brokers costs USD 614 in total fees. DEGIRO costs USD 3,400, which is USD 2,786 more, roughly 6 times as much.
Referral link: ibkr.com/referral/marco1592. The bonus is paid by Interactive Brokers. Using it costs you nothing extra.
Cost comparison, side by side
| What you pay for | Interactive Brokers | DEGIRO |
|---|---|---|
| Total fees over 30 years | USD 614 | USD 3,400 |
| Custody / platform fee | None on a standard account | No custody fee, but an exchange connectivity fee per market per year |
| Cost per trade | From USD 0.35 on US listings, from EUR 1.25 on European listings | Low flat fees, with a free ETF list |
| Currency conversion | Around 0.002% of the amount, minimum USD 2, at the interbank rate | 0.25% per conversion, or a fixed fee per manual conversion |
| Other charges | No inactivity fee, no withdrawal fee for the first withdrawal each month | No inactivity fee |
Figures are indicative, based on published tariffs for the portfolio described above and converted to US dollars. Pricing differs by country of residence and changes often, so check both providers before you decide.
Where DEGIRO is genuinely good
- Cheap and simple for European-listed ETFs
- Clean interface that beginners actually finish
- Free ETF list covers most core index funds
Where it costs you
- No access to US-listed funds such as VT
- Currency conversion is over a hundred times the IBKR rate
- Thinner reporting and no securities lending opt-out on the basic account
My take
Fine for a simple European ETF portfolio. Interactive Brokers wins on currency costs, product range and reporting depth.
Both accounts are legitimate and both are regulated. The question is what you are paying for. If you want a hand-held experience in your own language and time zone, DEGIRO does that. If you want to keep as much of your return as possible, Interactive Brokers is the cheaper account and the extra paperwork takes about half an hour a year.