XTB vs DEGIRO
The two brokers use opposite cost models: XTB charges no commission but 0.5% on currency conversion; DEGIRO charges about €2 per order but converts at 0.25%. So neither is simply "cheaper": it depends on your order size and the currency you buy in. We compared both using each broker’s own published figures.
Independent: we earn no commission on any product listed on this page. The ranking follows only the criteria below.
Which to choose, depending on your case
Choose XTB if…
You invest small amounts, or often, and mostly in euros. With no per-order commission, buying €100 costs nothing; on DEGIRO it would cost €2, which is 2% of the amount invested. It is also the only one of the two supervised by the CMVM, and its investor protection is slightly higher (€20,100 vs €20,000).
Choose DEGIRO if…
You buy in dollars or place larger orders. At 0.25%, FX conversion is half XTB’s: on a $10,000 purchase that is €25 versus €50, which dwarfs the €2 order cost. It holds a banking licence, so idle cash is covered up to €100,000 by the German deposit guarantee, and its Popular ETF Selection costs €1 per trade.
How we ranked these
This comparison is not the result of any commercial agreement. We verified every figure in each broker’s own documentation (several Portuguese comparison sites publish out-of-date values) and compared them against these criteria:
- Total cost per trade: commission, handling and FX conversion combined, not just the advertised commission.
- The effect of order size: a flat per-order cost penalises small purchases; a percentage on conversion penalises large foreign-currency amounts.
- Recurring costs: maintenance, custody, inactivity and connectivity.
- Supervision: the CMVM, or another member state’s regulator.
- Investor protection: which scheme applies, to which assets, and up to what amount.
Side-by-side comparison
| Product | Stock commission | ETF commission | FX conversion | Annual holding cost | Supervision | Investor protection |
|---|---|---|---|---|---|---|
 XTB | 0% | 0% | 0.5% | None, while the account stays active | CMVM and KNF | €20,100 |
| DEGIRO | €2 | €1 to €3 | 0.25% | Connectivity: max. €2.50/year per exchange | BaFin · AFM/DNB | €20,000 (90%) · €100,000 in cash |
Each option in detail
XTB
XTB S.A.
Supervised by the CMVM and the KNF (Poland)
Best for: Small or frequent orders, mostly in euros, and investors who value CMVM supervision.
- Stock commission
- 0%
- ETF commission
- 0%
- FX conversion
- 0.5%
- Annual holding cost
- None, while the account stays active
- Supervision
- CMVM and KNF
- Investor protection
- €20,100
Strengths
- No commission on stocks and ETFs up to €100,000 of monthly volume
- Supervised by the CMVM: status verifiable in the regulator’s public register
- Invest from €1, with no opening and no withdrawal fees
- Investor protection of €20,100, slightly above DEGIRO
Weaknesses
- FX conversion at 0.5%, double DEGIRO’s, it bites on dollar-denominated assets
- Above €100,000/month it charges 0.2% per trade, with a €10 minimum
- Uninvested cash is not covered by a bank deposit guarantee
- Charges €10 a month in maintenance if the account goes 365 days without a trade and 90 without a deposit
DEGIRO
flatexDEGIRO Bank SE, Dutch branch
German bank supervised by BaFin · the Dutch branch is supervised by the AFM and the DNB
Best for: Larger orders, foreign-currency purchases, and investors who want idle cash covered by a bank deposit guarantee.
- Stock commission
- €2
- ETF commission
- €1 to €3
- FX conversion
- 0.25%
- Annual holding cost
- Connectivity: max. €2.50/year per exchange
- Supervision
- BaFin · AFM/DNB
- Investor protection
- €20,000 (90%) · €100,000 in cash
Strengths
- FX conversion at 0.25%, half of XTB’s
- Banking licence: cash in the account is covered by the German deposit guarantee up to €100,000
- Its Popular ETF Selection costs €1 per trade, the handling fee alone
- The connectivity cost (0.25%, capped at €2.50 per year per exchange) does not apply to Euronext Lisbon
Weaknesses
- It charges per order: €2 on a share on Euronext Lisbon or in the US, which penalises small purchases
- Investor compensation covers 90% of assets, up to €20,000
- Not supervised by the CMVM: it operates under the German and Dutch regulators
- An annual connectivity cost on each foreign exchange you trade on
Decided? Run the numbers on your own case:
Calculate your capital gains →Frequently asked questions
Which is cheaper, XTB or DEGIRO?
Is my money protected the same way at both?
Do I have to declare both on my Portuguese tax return?
Sources
- 1.XTB: conta e taxas (comissões, limite de volume, conversão cambial, proteção) · XTB · retrieved 29 Aug 2026
- 2.DEGIRO: preçário (comissões por transação, manuseamento, conectividade, conversão) · DEGIRO · retrieved 12 Aug 2026
- 3.DEGIRO: como protegemos os seus investimentos (garantia de depósitos e compensação do investidor) · DEGIRO · retrieved 12 Aug 2026
- 4.Registo de intermediários financeiros autorizados · CMVM (Comissão do Mercado de Valores Mobiliários) · retrieved 12 Aug 2026
- 5.XTB, Tabela de Taxas e Comissões de 29 de junho de 2026: taxa mensal de manutenção de conta e as duas condições que a desencadeiam · XTB, S.A. Sucursal em Portugal · retrieved 29 Aug 2026