Trade Republic vs eToro (2026): Fees, Safety and Which Suits You

The short answer

Both are app-first brokers aimed at ordinary investors, and both make monthly ETF investing almost free. They part ways on almost everything else. Trade Republic is a licensed German bank that serves 18 European countries, pays interest on uninvested cash and, in some countries, takes care of tax for you. eToro is a global social-trading platform that lets you copy other investors, trade a wide range of real crypto and use leveraged CFDs, and it is open to residents of the UK and many countries outside Europe. For a euro-area saver building a long-term ETF portfolio, Trade Republic is usually the simpler and cheaper home. For someone who wants copy trading or lives outside Trade Republic’s 18 countries, eToro is the one that is actually available.

Who they are and how your money is protected

Trade Republic was founded in Berlin in 2015 and received a full German banking licence at the end of 2023; it is supervised by BaFin and the Bundesbank and says it has more than ten million customers. Uninvested cash sits at partner banks, where deposit protection applies up to €100,000 per bank, except for any part placed in money market funds, which are not deposits. Shares and ETFs are held separately from the company’s own assets, and German investor compensation covers 90% of losses up to €20,000 only if securities go missing. It is not available in the UK, Switzerland or the United States.

eToro was founded in 2007 and has been listed on Nasdaq since May 2025. EU clients are served by eToro (Europe) Ltd, regulated by CySEC in Cyprus, and covered by the Cyprus Investor Compensation Fund up to €20,000 if the firm fails and cannot return assets; UK clients deal with eToro (UK) Ltd under the FCA, with FSCS cover up to £85,000. Euro and pound cash accounts are provided by eToro Money companies, where money is safeguarded but is not covered by a deposit guarantee scheme, and crypto is not covered by any compensation scheme.

Fees compared

• Shares: Trade Republic charges €1 per order through its Best Price route, or €2 to pick the exchange yourself, plus the spread. eToro charges $1 or $2 when you open and again when you close a stock position, depending on your country and the exchange.
• ETFs: €1 per one-off order at Trade Republic; no commission at eToro.
• Savings plans: free at Trade Republic for shares and ETFs. eToro’s recurring investments in ETFs carry no commission, and recurring deposits carry no conversion fee.
• Currency: Trade Republic builds the conversion into the price of US shares, with a published margin of about 0.12% at recent exchange rates, and converts non-euro dividends into euros. eToro charges 0.75% to convert between euros or pounds and dollars, with discounts for higher Club tiers, and nothing on euro assets bought from a euro account.
• Crypto: €1 per order plus the spread at Trade Republic; 1% per position at eToro for standard members.
• Withdrawals and account fees: none at Trade Republic; at eToro, free from local-currency accounts and $5 from US-dollar accounts, with no inactivity fee in its September 2026 price list.

Two examples make the difference concrete. A €200 monthly plan into a euro-listed world ETF costs nothing in explicit fees at either broker. A one-off €1,000 purchase of a US share costs about €1 plus roughly €1.20 of conversion at Trade Republic, around €2.20 in total, against $1 or $2 plus about €7.50 of conversion at eToro, roughly €9. Sell it later and eToro’s conversion applies again, so for investors who buy US shares from a euro account the currency fee, not the commission, decides which is cheaper.

Interest on cash

Trade Republic pays interest on the whole uninvested euro balance, linked to the European Central Bank’s deposit rate: 2.50% a year after the ECB’s September 2026 increase, with 3% offered to newer customers in several countries on balances up to €50,000. eToro pays interest only on US-dollar balances, only for customers who opt in, at rates that vary by country and Club tier, and pays nothing on euro or pound balances. For anyone who keeps a cash buffer in their brokerage account, that difference alone can be worth more than a year of order fees.

Trade Republic is built for steady saving in euros; eToro is built for following markets, and other investors, in real time.

Products, tools and tax

Trade Republic offers thousands of shares and ETFs, more than 500 bonds, crypto, warrants and private-market funds, a free web terminal since July 2026 and a debit card with 1% Saveback into investments on card spending, subject to conditions. It has no listed options or futures and only one base currency, the euro. eToro offers stocks and ETFs on the main US and European exchanges, a wider choice of real crypto, Smart Portfolios, CopyTrader and a large CFD range, with accounts in dollars, euros and pounds. On tax, Trade Republic deducts German taxes automatically for German customers, handles tax in Austria, acts as withholding agent for Italian customers who choose it and withholds tax on interest in Portugal; eToro generally leaves tax to you and provides an annual statement. Wherever you live, check exactly what each broker reports before you rely on it.

Which one suits whom

Trade Republic tends to suit investors in its 18 countries who want monthly savings plans, interest on cash and a bank behind the app, and who rarely need to speak to anyone. eToro tends to suit investors who want to copy others, trade a broad crypto range, hold dollar balances, or who live in the UK or elsewhere outside Trade Republic’s reach. Both are poor choices for anyone tempted by leverage they do not understand: eToro’s own risk warning in September 2026 said about half of retail CFD accounts lose money with it, and Trade Republic’s warrants and knock-outs carry similar risks. Fees and rates were checked in October 2026 and change often; this is general education, not a recommendation of either broker.

This article is educational and general in nature. It isn’t personalized investment, tax, or legal advice — always weigh your own circumstances, or talk to a licensed professional, before making financial decisions.

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