Why DEGIRO Still Dominates Despite New Competition from Trading 212 and Lightyear
Five years after Trading 212 launched in Ireland and four years after Lightyear arrived, DEGIRO still holds the lead for most Irish ETF investors. Here's why — and when the newer platforms win.
Not financial advice. The information on etf.ie is for educational purposes only and does not constitute financial, tax, or investment advice. ETF investing involves risk, including the possible loss of capital. Tax rules may change — always verify current Revenue guidance and consult a qualified financial adviser or tax professional before making investment decisions.
| Feature | DEGIRO | Trading 212 | Lightyear |
|---|---|---|---|
| ETF trade fee | €0 + 0.25% (min €1) on core ETF list | €0 commission | €0 commission FX spread applies |
| Custody/annual fee | €0 (no platform fee) | €0 | €0 |
| ETF selection | 2,000+ UCITS ETFs | 700+ ETFs | ~400 ETFs |
| Fractional shares | No (full units only) | Yes | Yes |
| Regulation | BaFin (Germany) IBKR sub-custodian | CySEC (Cyprus) €20k investor protection | FCA (UK) £85k FSCS protection |
| FX fee | 0.25% per FX conversion | 0.15% (free for Premium) | 0.35% on non-EUR trades |
| Savings plan / auto-invest | No | Yes (Pies) | No |
| Irish tax reporting | No auto report | No auto report | No auto report |
Fees as of April 2026. Always verify current terms directly with each broker.
Why DEGIRO still leads
DEGIRO has been the default choice for cost-conscious Irish ETF investors since it entered the Irish market, and despite genuine competition, it remains the strongest all-round option for most investors. Here's why.
ETF selection
DEGIRO offers access to over 2,000 UCITS ETFs across multiple exchanges — Xetra, Euronext, the London Stock Exchange, and others. For Irish investors who know exactly which ETF they want (by ISIN), DEGIRO almost certainly has it. Trading 212's 700+ and Lightyear's ~400 cover the most popular funds, but investors looking for niche exposures — specific sector ETFs, bond ETFs, smaller regional funds — will find DEGIRO's range unmatched.
The core ETF list and zero-commission trades
DEGIRO's "core ETF list" includes hundreds of ETFs (including VWCE, IWDA, EIMI, CSPX) that can be traded once per day at €0 commission + €1 handling fee. Outside the core list, the fee is €0 + 0.25% per trade (minimum €1 per leg for most European exchanges). For monthly investors placing one trade per month in a core ETF, the annual cost is effectively €12 in handling fees — negligible.
Regulation and asset security
DEGIRO operates under BaFin regulation (Germany) — one of Europe's most rigorous financial regulators. Client assets are held in a separate legal entity (SPV) and are legally ringfenced from DEGIRO's own assets. Crucially, DEGIRO uses Interactive Brokers as its sub-custodian for many assets, adding another layer of institutional-grade infrastructure. Investor compensation up to €20,000 under ICF is available, with the regulatory structure providing additional protection beyond the headline number.
Track record and stability
DEGIRO was founded in 2013, has processed millions of transactions, and was acquired by flatexDEGIRO AG (a publicly listed company) in 2021. It has operated through multiple market crises without customer issues. Trading 212 and Lightyear are much newer, with shorter track records to assess under stress.
When Trading 212 wins
Trading 212 is genuinely excellent for a specific type of investor — and for some Irish investors it's the better choice.
Fractional shares and small regular investments
Trading 212 supports fractional share purchases — you can invest €50 in VWCE even if one unit costs €120+. For investors who want to invest a fixed amount each month (e.g. €100) regardless of the current unit price, this is a real advantage. DEGIRO only sells full units, which means some cash may sit uninvested each month.
Auto-invest Pies
Trading 212's "Pies" feature allows you to create a portfolio allocation (e.g. 90% IWDA, 10% EIMI) and have deposits automatically distributed according to that allocation. This approximates the regular savings plan functionality that many European brokers offer but Irish-accessible platforms have largely lacked. For a set-and-forget monthly investor, this is a compelling feature.
The CySEC concern
Trading 212's Irish customers are served by its Bulgarian entity, regulated by CySEC (Cyprus). CySEC is an EU regulator, but it has a weaker enforcement reputation than BaFin or the UK's FCA. Investor protection is capped at €20,000 under the ICF scheme — the same nominal figure as DEGIRO, but the underlying strength of the regulator is arguably weaker. This is not a reason to avoid Trading 212, but it's a legitimate consideration for larger portfolios.
Lightyear — the FCA-regulated alternative
Lightyear launched in Ireland in 2022, and its key differentiator is FCA (UK) regulation. UK FSCS protection covers up to £85,000 per investor — significantly more than the €20,000 available under EU investor compensation schemes. For larger portfolios (say, €50,000+), the protection ceiling is a meaningful difference.
However, Lightyear's ETF range (~400 funds) is the most limited of the three, and it currently has no auto-invest feature. Its FX fee (0.35%) is higher than both DEGIRO and Trading 212 for non-EUR denominated trades. The cash interest rate on uninvested EUR deposits (competitive relative to Irish bank accounts) is a genuine plus for investors who hold significant cash.
The verdict
For most Irish ETF investors, DEGIRO remains the strongest default. Its ETF range is unmatched, the core ETF list makes popular funds effectively free to trade, its BaFin regulation and IBKR sub-custody provide genuine institutional-grade asset security, and the platform is mature and stable.
Choose Trading 212 if: you invest small amounts monthly, want fractional units, or want auto-invest Pies to automate allocation between two funds. The CySEC regulatory concern is real but manageable for most portfolio sizes.
Choose Lightyear if: you have a larger portfolio (€50k+) and want FCA/FSCS protection ceiling, or if you hold significant cash between investments and want to earn interest on it.
All three platforms lack automated Irish tax reporting — you are responsible for calculating and declaring your own exit tax and deemed disposal obligations regardless of which platform you use.
Related guides
Not financial advice. The information on etf.ie is for educational purposes only and does not constitute financial, tax, or investment advice. ETF investing involves risk, including the possible loss of capital. Tax rules may change — always verify current Revenue guidance and consult a qualified financial adviser or tax professional before making investment decisions.