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European Brokers Discussion


John Hjorth
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From the IBKR - Interactive Brokers topic in the Investments Ideas forum:

 

… In Europe there is nothing that comes even close to IB`s stability, security and pricing. …

 

Perhaps time to start a separate topic about European brokers on this board - if any fellow European board members are interested in discussion and experience sharing.

 

Especially for frommi:

Which brokers/banks do you have experience with?

 

Just some interim input here: Today I signed up for joining the queue at www.deziro.com .

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Afaik the european broker market is pretty fragmented with many domestic operators. I use Avanza in Sweden. I think their platform is pretty great. Not sure if they accept foreign investors.

 

Deziro: Do you pay by getting crappy order execution?

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I have accounts at cortalconsors, comdirect and ib. I suspect that these "free" brokers either sell your data or your order flow, both is more expensive in the long run than ib. And i want access to futures, options and short selling. I am really happy at ib so i don't see a reason to search for another broker.

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Afaik the european broker market is pretty fragmented with many domestic operators. I use Avanza in Sweden. I think their platform is pretty great. Not sure if they accept foreign investors.

 

Deziro: Do you pay by getting crappy order execution?

Yes, I also perceive the market to be fragmented. Here in Denmark the major Danish banks seem to be dominating. I use Nordnet Bank AB, Danish Branch, and I'm - also, like you - quite happy with it. But I feel I suffer from lack of access to markets [only access to Denmark, Sweden, Norway, Finland, Germany, USA and Canada].

 

www.deziro.com should be based on income from advertising only, not income from fees. As far as I understand, it should be a special branch of www.degiro.eu. I'll just wait and see what it brings.

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I have accounts at cortalconsors, comdirect and ib. I suspect that these "free" brokers either sell your data or your order flow, both is more expensive in the long run than ib. And i want access to futures, options and short selling. I am really happy at ib so i don't see a reason to search for another broker.

Thanks,

 

I'll take a closer look at IB.

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I'd stay away from anything connected to DeGiro:

 

- http://www.amsterdamtrader.com/2015/09/degiro-clients-as-counterparty-for-hedgefund.html

- http://www.amsterdamtrader.com/2015/09/degiro-ignores-the-elephant.html

- http://www.amsterdamtrader.com/2015/10/how-degiro-screws-clients.html

 

I signed up there before this story emerged to get access to some markets (Greece, Poland) that were not available to me elsewhere. It looks I'm pretty much stuck with them at this point, because the stocks I own are pretty illiquid and I don't know to which broker I could transfer my positions. If I could (at a reasonable cost), I would though.

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Just some interim input here: Today I signed up for joining the queue at www.deziro.com .

That's a product from DeGiro, absolute worst broker ever doing everything they can to screw their customers (doing a lot of stuff that would be illegal in the US). I suggest reading amsterdamtrader.com for some more background.

 

I think Saxobank is also absolutely horrendous.

 

I do like Binck (Dutch broker), no cheap transactions but good customer service. It's a bit like TD Ameritrade IMO. Decent broker, but IB is way better.

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