Minimum trade size matters more than minimum deposit
This is the most common mistake in broker comparisons. A broker can advertise a €0 minimum deposit while charging a per-order minimum that makes small trades expensive.
If the minimum commission is €1.25:
The same broker is expensive for a €50 trade and cheap for a €5,000 one. That is why the comparison above shows the minimum practical trade alongside the minimum deposit, and why the calculator asks how much you actually invest per month rather than ranking brokers in the abstract.
Fractional shares change the maths for small monthly amounts
Suppose you want to invest €200 per month into an ETF priced at €500 per share.
Without fractional investing you cannot invest the whole €200 in any given month — you accumulate cash until you can afford a full share. With fractional investing you buy:
€200 / €500 = 0.4 shares
and stay fully invested. For anyone contributing a fixed amount each month, that is worth more than a small difference in commission.
One caveat that comparison sites usually skip: fractional positions are not always portable. TradeVille, for example, states that fractional holdings cannot be transferred to another broker — they must be sold first, and only the remaining whole-share positions can be moved.
Compare using a real investment, not a headline rate
Saying "Broker A charges 0% and Broker B charges 0.05%" tells you almost nothing. What matters is the total cost of the plan you actually intend to run:
- trading commission and the per-order minimum
- currency conversion, if the instrument trades in a different currency from your account
- spread
- custody and account fees
- withdrawal fees
- and the tax regime that applies to your gains
That is what the calculator above adds up. For a Romanian tax resident holding long term, the tax line is frequently the largest one on the list.
Regulation and investor protection are separate questions from tax
A broker being regulated by a respected European regulator does not mean its Romanian clients get the 3%/6% withholding treatment. These are two independent facts, and they should be checked separately:
- Which regulator supervises the entity — ASF, FCA, CySEC, BaFin, KNF, CBI
- Which investor compensation scheme covers you, and up to what amount
- Which legal entity actually holds your account
- Whether client money is segregated
- Whether the intermediary is a Romanian tax resident
The last point is the one that changes your tax bill, and it is the one most comparison articles omit.
Should you use a referral link?
If you have already chosen a broker and an eligible campaign is running, there is usually little reason to skip the referral link. The value is simple to estimate:
Net referral benefit = value of the reward − any extra cost required to qualify
If you were going to deposit €10,000 anyway and the reward is €100, the incremental value is close to €100. If a promotion requires a €50,000 deposit you had no intention of making, the headline value is not the number that matters.
This is especially true of free-share promotions, where the reward is shares whose value fluctuates and is not guaranteed.
A referral bonus is not a reason to choose a broker
A €100 bonus is insignificant if the broker's ongoing costs, currency conversion fees or available markets do not suit how you invest. Choose on cost, markets, regulation and the features you need; treat the referral as a bonus on top of a decision you had already made.