Stock Trading Broker Comparison – Choosing a broker is an important step in your investment journey. A broker is a middleman between you and the stock market. We are lucky because in Belgium there are many broker options. The purpose of this article is to determine which broker comes out on top when we want to invest in ETFs. We will compare brokers based on:
To compare their fees, let’s assume we buy €500 of the VWCE ETF (ISIN IE00BK5BQT80).
Stock Trading Broker Comparison
All brokers offer more or less the same services. Therefore, brokerage fees and tax treatment have become the most important criteria for making a choice for most investors. The table below shows a list of the best brokers to buy €500 of VWCE ETF.
Trading Vs. Investing: Differences Between Stock Trading And Investment
The founders of DEGIRO are all former employees of BinckBank and launched their online trading platform in 2013. DEGIRO is now part of Flatex bank and they still operate as a branch in the Netherlands of a regulated German bank.
It does not deal with dividend tax. You will have to declare this yourself in your annual tax return.
The strange thing is that degiro.be does not exist. To open an account, you must visit degiro.nl (if you prefer the Dutch interface) or degiro.fr (if you prefer French). You can then choose Belgium when opening an account:
You will find there are quite a few steps involved in opening an account. You have to tell them who you are, verify your identity through your passport or ID card, answer questions about your investment knowledge… It takes a little patience!
Zerodha Vs Angel Broking: Stockbroker Comparison
Since DEGIRO is an offshore broker, you will own an offshore account after opening an account with them. This means you have to declare it to the Belgian authorities. You can do this process online using an electronic ID card reader or item.
You will have to pay €100 to transfer each position to another broker. So if your portfolio has 3 funds, it would cost €300. Considering that DEGIRO has some of the lowest fees, it is not surprising that it is one of the more expensive companies when it comes to moving your assets.
MEXEM has a branch in Belgium, but their EU headquarters is based in Cyprus. They have been operating in Israel and South Africa for more than 30 years and are now focusing more on growth in Europe. They are offered by Interactive Brokers (such as LYNX) and offer competitive prices for Belgian investors.
Setting up an account with Mexem is a bit more difficult than with other brokers. However, the minimum deposit is low at €100.
Best Stock Brokers In The Us In 2023
We could not find any information about the cost of transferring your securities from MEXEM to another account.
To keep up with growing competition, ING launched its own brokerage service called ING Self Invest. It is completely online.
You need an existing bank account with ING to open an ING Self Invest account. This can be difficult if you do not have an existing relationship with ING.
If you are already a customer, simply go to the ING Banking app and go to “Products”. You will have the option for “Invest”. You can then choose to open a Self-Invest account from there.
Big 4 Comparison Page
Founded in 2006, LYNX is one of the oldest and most trusted online brokers. On the back end they are provided by Interactive Brokers, one of the largest brokers worldwide (same as MEXEM). They provide direct access to major stock exchanges.
LYNX offers two trading platforms. On the one hand, a professional trading platform for serious investors. But there is also a simplified trading platform called “LYNX +” for investors who do not check their accounts every day.
LYNX supports clients with dividend tax treatment. For Belgian dividends there is already a withholding tax, for foreign dividends you have to take an extra step yourself. LYNX generates a dividend report every year for this purpose. This report tells you how much tax you have actually paid and how much tax you still have to declare through personal income tax.
.svg?strip=all "Stock Trading Broker Comparison")
It is possible to set up an account through the app, although it is not very user-friendly. You have to go through a series of questions related to security, profile, education, experience, product knowledge, etc. which is easier to answer on a computer than on a mobile phone due to complexity. After answering the questionnaire, you will receive an email to initiate verification, after which your details will be checked and processed. Opening times are from 2 to 4 working days.
These Are The Best Online Brokers In Germany
Any amount can be deposited to open an account, although a preliminary amount of €3,000 is offered as the first amount for transfer.
Back in 2000. In 2005, BinckBank Belgium was founded in Antwerp. In 2018 it was acquired by Saxo Bank and is currently in the process of merging 100% under Saxo, meaning that the name BinckBank is no longer used.
Saxo Bank, as a registered entity in Belgium, is authorized to tax at source. This means they will handle the payment of Belgian transaction tax (TOT) and all other taxes on behalf of their clients.
Once you are on the site, you can choose to open a single account, a joint account or even a corporate account. The account opening process requires patience. Once an account is verified and opened, access is secured with an additional layer on top of traditional usernames and passwords. To connect to the platform, you must request a code sent via SMS. If you are a new client, Saxo Bank will reimburse you for the cost of purchasing the investment securities.
Uk Stock Broker Comparison
Bolero is an online broker from KBC Group, targeting private investors. It was created in 1999 and is one of the most popular Belgian brokers out there.
However, it is important to note that Bolero has been charging 1.32% tax since July 1, 2021. This is much higher than the 0.12% charged by other brokers.
Bolero uses itsme for the account opening process. After receiving the email that your account has been opened, you must register your mobile device and agree to the general conditions on the application. You enter the user number received on email and you must choose a password. You can then connect via itsme or digipass Bolero/KBC. As an export-only platform, once connected, you must contract with your North American stock password (this is required). They will then guide you through a knowledge and experience test to trade complex investments.
If you want to transfer your assets to Bolero, they will reimburse the costs, up to €400 in free brokerage fees valid for three months. Bolero refunds €20 free brokerage fee for each position transferred with a minimum equivalent of €500 (for up to 20 positions).
Comparative Analysis Of Stock Brokers
Transferring your securities to another broker will be very expensive. For non-KBC accounts it costs €50 per position.
MeDirect was founded in 2013 and started offering savings accounts. Over the years, it has added features to manage your money, such as built-in model portfolios and discretionary mandates.
MeDirect, as a registered entity in Belgium, is authorized to tax at source. This means they will handle the payment of Belgian transaction tax (TOT) and all other taxes on behalf of their clients.
Although you can open an account through the MeDirect app, the process involves several steps that must be completed through the website. The app will automatically redirect you there, which means it will be easier if you do all the steps directly from the website. You can choose Belgium or Malta when you first set up your account, and you can do this using itsme. Unfortunately, this process involves many steps that require patience (ID verification, opening an investment account, etc.).
Best Trading Platforms In Europe For 2023 (reviewed)
Once your account is set up, you’ll always need your mobile phone and computer to connect. This is because you cannot trade directly through the application, and to connect you must perform two-step verification, which includes your user number (don’t forget, it is sent by SMS) and the password entered in “Mecode” on the application. It’s actually quite confusing.
Asset transfers from MeDirect to shares and bonds of other external entities are €35 per share for shares and bonds. And for the fund it amounts to €150 per share (a big number!).
Launched in 1998 as the first Belgian online investment website, KeyTrade was an instant success as a pioneer and experienced brilliant growth. In 2002, the company became Keytrade Bank and gained bank status by taking over RealBank. Keytrade Bank was acquired by Groupe Crelan (formerly Crédit Agricole) in 2005 and became a 100% subsidiary. Since June 2016, Keytrade Bank has been part of the Crédit Mutuel Arkéa Group.
Keytrade Bank, as a registered entity in Belgium, is authorized to tax at source. This means they will handle the payment of Belgian transaction tax (TOT) and all other taxes on behalf of their clients.
Best Stock Trading Software Options For 2023
You cannot set up an account by
Stock trading broker, best stock trading broker, stock broker trading platforms, stock trading without broker, option trading broker comparison, stock broker fees comparison, broker online stock trading, trading broker comparison, online trading broker comparison, stock broker comparison chart, stock broker price comparison, stock broker commission comparison