The useful broker comparison starts with your actual trades: the funds, exchange listings, order sizes, account country and currencies. A low advertised commission does not establish the total cost of a monthly tactical portfolio.
Fees checked September 15, 2026. The table is a starting point for checking a local fee schedule, not a claim that every account receives the same terms. Instrument availability and order types must be checked in the account you would use.
Six brokers: what to verify
| Broker / source scope | Published commission example | Currency conversion / main check |
|---|---|---|
| Interactive Brokers, EUR tiered schedule | 0.05%, minimum €1.25 on the quoted EUR markets; third-party charges additional | Manual spot FX: 0.20 basis points, minimum USD 2; automatic conversion typically 0.03% |
| DEGIRO, Irish fee page | Core Selection ETFs: €1 handling; other ETFs: €2 + €1 handling | AutoFX 0.25%; manual FX €10 + 0.25%; connectivity may apply |
| XTB, official help page | 0% to €100,000 monthly turnover; above that 0.2%, minimum €10 | FX 0.5%; verify your country and account conditions |
| Trading 212, Invest | Trading commission €0 | FX 0.15%; supported currency balances can avoid a conversion on each trade |
| Lightyear, EU pricing | ETF execution €0; EUR ETNs/ETCs €1 | FX 0.35%; confirm whether the instrument is an ETF, ETC or ETN |
| Saxo | Exchange, country and account-tier dependent | Get the local commission, FX and custody schedule; no universal quote used here |
Sources: IBKR stock and ETF commissions and FX pricing; DEGIRO Ireland; XTB fees; Trading 212 multi-currency and Invest fees; Lightyear EU pricing; Saxo ETF commissions.
For the quoted IBKR tiered minimum, five orders start at €6.25 before third-party charges. At DEGIRO's Irish ETF prices, five Core Selection orders total €5 and five other ETF orders total €15 before other costs. These examples do not establish which broker is cheaper for different order sizes or markets.
Model the whole rebalance
Count a sale and a purchase as separate orders. Then add any FX conversions, the bid/ask spread, applicable taxes, connectivity or custody charges and the fund's ongoing costs. Minimum commissions matter most for small orders.
In the illustration, €180 of annual commissions equals 0.72% of the starting €25,000 portfolio. The amount is fixed only because the example fixes both the trade count and unit fee. Your trade count and portfolio size will vary.
Check the instrument, currency and execution date
A EUR-traded listing can avoid an account-level currency conversion for that trade. It does not remove the currency exposure of the underlying investments unless the fund's share class actually hedges it. Check the ISIN and exchange listing, not just a familiar ticker.
Some tactical portfolios hold commodity ETCs, ETNs or leveraged products alongside ETFs. Their fees and availability can differ. Fractional investing may also have product-specific order and transfer restrictions; confirm the exact instrument rather than assuming every listed security qualifies.
Wait for the confirmed signal and follow its documented execution date. A closing-price signal cannot be known before that close. A limit order controls the price you accept but does not guarantee a fill. Keep a record of incomplete fills and check the final weights.
Choosing for your workflow
IBKR is a candidate when a multi-market workflow needs instruments or order types you have confirmed there. A commission-free broker may fit a smaller portfolio when it offers the whole required basket and the currency costs work out. DEGIRO, Lightyear and Saxo can also fit specific baskets and accounts. Compare the same proposed rebalance across the local schedules before choosing.
Use the UCITS finder to research possible mappings, then verify the fund documents and broker listing. The execution-delay study covers the timing question separately.
This is an educational comparison of published terms, not personalized investment advice or a broker recommendation. Fees and availability can change.