Dear WIMM Reader,
In the past, I made some poor decisions about which app/platform to use for trading my stocks. I corrected these decisions, and below you can see a list of options that you have and their advantages and disadvantages:
1. Pan-European / cross-border platforms (most used by Europeans for US + EU stocks):
Interactive Brokers (IBKR)
Origin: US
Markets:
very broad (multiple exchanges across US, Europe, Asia)
It uses a JP Morgan account in Ireland.
Advantages:
Widest market access (great for global portfolios)
Strong execution, professional tools, multi-currency support
Good for long-term investors and “serious” portfolios
Copy portfolio in “family” to replicate the change in positions
5/24 nonstop trading
Probably the most stocks from what I have seen
Super automations everywhere in the platform
The best platform for news (after Bloomberg/Refinitiv, ofc)
Disadvantages:
Interface can feel complex
Customer support can be “industrial”, because everything is automated.
Not the most beginner-friendly UX
Origin: Poland
Markets: multiple European + US exchanges (broad retail offering)
Advantages:
Easy UI, strong onboarding
Often low/zero commission structure up to a monthly threshold
Good “simple investing” platform for mainstream stocks/ETFs
Disadvantages:
Platform DNA includes CFDs (riskier instruments), which are easy to drift into leverage if not careful
Fractional shares may have limited shareholder rights vs full shares
FX conversion costs can matter if you invest in USD frequently
Origin: Israel (global)
Markets: broad retail menu, multi-asset exposure
Advantages:
Very easy onboarding and UX
“Social investing” features (copy / follow)
Convenient for casual investors
5/24 nonstop trading
Disadvantages:
Fees/spreads/FX can be less transparent vs pro brokers
Some exposures can be via derivatives, depending onthe product/region
Not ideal if you want maximum control, portability, and “pure” custody
Origin: Denmark
Markets: broad global access; multi-asset (stocks /ETFs /bonds /options / futures /FX etc.)
Advantages:
“Professional-grade” platforms (SaxoTrader / SaxoInvestor), strong order types
Good research / tools; great for active investors who still want a bank-like brand
Strong coverage across many exchanges and instruments
Disadvantages:
Pricing can be less “ultra-cheap” vs neo-brokers (depends on tier/activity)
Some fee lines (custody/market data/inactivity in certain setups) can surprise people if they don’t read the schedule
A Swiss private bank (Bank J. Safra Sarasin / J. Safra Sarasin Group) agreed to acquire a majority stake (70%) in Saxo Bank in March 2025. I am somehow bearish on Switzerland so that’s why I closed my account in 2024 (!)
2. Most used / popular platforms by country (Germany, France, Italy)
🇩🇪 Germany (most used / most popular, especially among retail):
Trade Republic (neo-broker, mobile-first, very popular)
Scalable Capital (popular platform, strong ETF-saving plans culture)
flatex / DEGIRO (widely used for low fees + international access)
ING / comdirect / Consorsbank (bank-broker “Depots”, very common for mainstream German investors)
How to think about it:
Neo-brokers win on UX + ETF savings plans
Bank-brokers win on “integrated taxes + traditional comfort”
Global brokers (IBKR/Saxo) win on breadth and advanced tools
🇫🇷 France (most used / popular):
Boursorama / BoursoBank (very popular retail bank + brokerage ecosystem)
Fortuneo (popular for French investors, especially for PEA accounts)
Bourse Direct (often chosen for low-cost French market access)
DEGIRO (commonly used for international investing, depending on user profile)
Trade Republic (growing presence as a neo-broker)
How to think about it:
For France, account type matters (e.g., PEA) and local brokers shine there
IBKR/Saxo often used by expats or investors prioritizing global toolsets
🇮🇹 Italy (most used / popular):
Fineco (very large local player; strong bank + brokerage blend)
Directa SIM (well-known local online broker)
BG Saxo / Saxo (common choice for advanced tools + multi-asset)
Intesa Sanpaolo / UniCredit investing platforms (bank-broker route)
DEGIRO (used for international access; depends on the investor’s tax/reporting preferences)
How to think about it:
Italy often splits between “bank-broker convenience” and “low-fee international” routes.
3. Romania (BVB + local support + sometimes international)
TradeVille
Strength: best known retail broker for BVB; also offers international access via partners
Good for: BVB stocks, local bonds, IPOs, Romanian support
Watch-outs: international fees/FX often less competitive vs IBKR
BT Capital Partners (BT Trade)
Strength: bank ecosystem convenience; BVB + international
Good for: investors already banking with BT who want “everything in one place”
Watch-outs: pricing/FX/platform depth vs specialist global brokers
Swiss Capital
Strength: strong local market presence (more institutional flavor)
Good for: BVB access with broker support
Watch-outs: not always the cheapest DIY option
4. Fintech “wrapper” apps (why many long-term investors avoid as their main brokerage)
Core caution (the “agent buys in your name” issue):
Some apps act as an intermediary/nominee/custody wrapper rather than a classic broker relationship.
That can add friction around:
transfers/portability
corporate actions (AGMs, voting, subscriptions)
clarity of rights (especially for fractionals or non-standard structures)
Examples:
Revolut (Stocks)
Great UX; fine for small/casual portfolios
Many investors avoid it as a primary place to hold serious long-term positions because it’s a wrapper model (read the custody structure carefully)
Robinhood (in Europe)
Europe offerings can differ by country and may include non-classic share exposure structures
Same conclusion: good UX, but be crystal clear what you legally own and how it’s held.
Rule of thumb: For “real money” long-term investing, many prefer a full broker (IBKR / eToro / strong local brokers) and keep wrappers for convenience only. I don’t support any of the fintechs agents.
5. Other - too niche to be discussed
People buy stocks inside their main bank app (because it’s there). Think of Deutsche Bank / ING / Commerzbank, BNP Paribas / Société Générale / Crédit Agricole, Intesa / UniCredit, etc.
Private banks / wealth management platforms (UBS, J.P. Morgan Private Bank, Morgan Stanley,)
Employee stock plan platforms - this is a huge hidden category. Employees get RSUs/ESPP through custodians like Computershare, EquatePlus, or broker platforms tied to their employer. hey hold and sell shares there, but they don’t think of it as “my broker”
Crypto exchanges that also list “stocks” or stock-like exposure.
As a general rule, I avoid them.
What I use:
Interactive Brokers for:
My US exposure (70% of my total portfolio)
You will be able to copy my trades (hopefully, starting in April)
Tradeville for Central and Eastern Europe (30%, mainly Romania and Poland markets) - I am so disappointed by their app, fees, interface, etc. Probably, I‘ll change them at some point.
eToro - not using it now, but I’m considering it for investing a 5% of my net worth in a new portfolio (wait & see my analysis next Thursday)
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I’m curious what apps/platforms you are using and how happy you are with them?
“Where is my moat?” is designed for individual readers, though the occasional forward is absolutely fine. If you’d like to set up multiple subscriptions for your team with a group discount (minimum 5 seats), reach out to me directly.
Thanks for your support & have a wonderful day!
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