Best brokers for index funds and ETFs in Spain (2026): fees compared
The question "which is the best broker?" has no single answer, and any list that gives you one is oversimplifying. The answer depends on a prior decision: whether you will buy mutual funds or ETFs. They differ in taxation and cost structure, and the brokers that win in each case are not the same.
Here are the real fees, verified against each entity's official fee page, with the link so you can check them yourself.
The comparison
| Broker | Custody | Index funds | ETFs / stocks |
|---|---|---|---|
| MyInvestor | €0 | No buy/sell, custody or transfer fee | 0.12% (min €1, max €25) |
| Trade Republic | €0 | Not offered | €1 per order · savings plans free |
| DEGIRO | €0 + up to €2.50/yr per market | €3.90 per order + 0.20% a year | €1 on the Core Selection |
| Indexa Capital | Included | ~0.53% a year all-in (managed) | Not applicable |
Fees verified on 11 July 2026 against the official schedules of MyInvestor, Trade Republic, DEGIRO and Indexa Capital. They change often: confirm before opening an account.
If you are investing in index funds
MyInvestor has the least friction: zero on buying and selling, zero custody and zero on transfers. That last point is the most underrated — in Spain funds can be transferred between providers without paying tax, and if your broker charges for it, the tax advantage leaks away in fees.
The contrast with DEGIRO is stark: €3.90 per order plus 0.20% a year on the fund portfolio. If you contribute €200 a month, that €3.90 is nearly 2% of every contribution before you even start. DEGIRO is competitive on ETFs, not on funds.
If you are investing in ETFs
Trade Republic and DEGIRO converge at €1 per order, with one decisive nuance for anyone investing gradually: at Trade Republic recurring savings plans are free. If your strategy is contributing every month, that is literally €0 of transaction cost against €12 a year.
MyInvestor charges 0.12% with a €1 minimum, so below roughly €830 per order you pay the minimum — competitive, but not free. Its advantage is keeping everything in one account.
One DEGIRO detail that surprises people on the invoice: the connectivity fee, up to €2.50 a year for each foreign market where you hold a position. With four markets that is €10 a year that shows up in no comparison table.
If you would rather not decide anything
Indexa Capital plays a different game: it is not a broker where you choose, it is a robo-advisor that builds and rebalances the portfolio for you. Its ~0.53% a year all-in looks expensive next to 0.12%, but you are not comparing like with like: it covers management, custody, rebalancing and the cost of the underlying funds.
If your realistic alternative is not investing at all, or doing it badly, that 0.4% gap is cheap. If you were going to build a three-fund portfolio and hold it, it is expensive. We go deeper in robo-advisor or index funds on your own.
Compare two brokers in detail: full profiles with every fee and its source are in broker fees, plus head-to-head comparisons like MyInvestor vs Trade Republic.
What matters more than the fee
Before choosing over cents, check three things that weigh more:
- What happens if the broker goes bust. Not all operate under the same protection scheme or custody model. We explain it in FOGAIN explained.
- Whether it does your tax paperwork. A Spanish broker hands you the tax information ready to file; with a foreign one you may face the D-6 form or declare gains yourself. That work has a real cost in time.
- Whether it has the product you want. Catalogs vary a lot. The cheapest fee is useless if they do not carry the fund you are after — cross this list with the cheapest index funds.
In short
- Index funds: MyInvestor, for the zero on buying, custody and transfers.
- ETFs with recurring contributions: Trade Republic, for the free savings plans.
- One-off ETF orders: DEGIRO or Trade Republic at €1, watching DEGIRO's connectivity fee.
- Delegating everything: Indexa Capital, if the extra 0.4% buys you actually sticking to the plan.
Transparency notice: the links to official fee pages above are plain links, with no commission for this site. In the securities-backed lending section we do use a MyInvestor referral link, and it is flagged there. MyInvestor ranks first on funds because of its published fees, not because of that arrangement: you can check it in the official source linked in the table.
Educational content, not investment advice and not sponsored content. Fees change: always verify the official schedule before opening an account.