Trading 212 Fees Explained: What You Really Pay (2026)
Trading 212 is genuinely commission-free, so where is the cost? Every Trading 212 fee in plain English: the 0.15% FX fee, no platform fee, interest on cash and how it makes money, from an ex-brokerage insider.
Written by a 12-year retail-brokerage insider. · Updated 22/6/2026
Trading 212 is one of the most popular commission-free investing apps in the UK and Europe, known for fractional shares and automated “Pies”. It really is free to trade, with no platform fee, so the one cost worth understanding is the 0.15% currency-conversion fee. Here is the full picture.
For the principles behind each cost, start with broker fees explained.
The short version
| What you pay | Trading 212 |
|---|---|
| Trade commission | £0 / €0 |
| Platform or custody fee | £0 / €0 |
| Currency conversion (FX) | 0.15% (the spot rate plus 0.15%) |
| ISA and SIPP | Fee-free |
| Minimum investment | From €1 (fractional) |
| Deposit protection | Investor compensation, depends on contracting entity |
| Regulator | FCA (UK) or CySEC, depending on your country |
Figures as of 2026. Check Trading 212’s current fee pages before you act.
Genuinely commission-free
Trading 212 charges no trading commission, no platform fee, no custody fee and no inactivity fee. Its Stocks and Shares ISA, and its SIPP, are fee-free too. For a UK investor that is a genuinely low-cost wrapper.
The 0.15% FX fee: the cost to know
The main cost is the 0.15% currency-conversion fee, charged as the spot exchange rate plus 0.15% whenever you buy or sell an instrument priced in a currency other than your account’s. Buy a US-listed share from a sterling account and you pay it; buy a sterling-denominated ETF and you do not. You can reduce it by holding a multi-currency balance in the currency you trade. To see how FX costs stack up across brokers, use our FX fee comparison tool and read FX fees explained.
Fractional shares and Pies
You can invest from €1 in fractional shares, and automate a whole portfolio with “Pies”: recurring, hands-off baskets, at no extra cost. This is the platform’s real strength for regular, small-sum investors.
Interest on cash
Trading 212 pays interest on uninvested cash, at rates that vary by currency and that it adjusts over time, without locking your money up.
”If it is free, how does Trading 212 make money?”
Disclosed and straightforward: the 0.15% FX fee, interest earned on cash, and securities lending, among other lines. A free-to-trade model earning a fair, disclosed margin elsewhere is normal; knowing where that margin sits (here, mostly FX and interest) helps you keep your own costs down, for instance by minimising currency conversions.
Who it suits, and who might want more
Trading 212 fits fractional, recurring and beginner investors who want a free, low-minimum app with automation. Watch the 0.15% FX if you trade a lot in foreign currencies, and note that your contracting entity and investor protection vary by country. Those are things to understand, not dealbreakers.
How Trading 212 compares
Read our full Trading 212 review, then compare it on FX and platform fees with Brokerlens.
Last fact-checked 22 June 2026 against Trading 212’s published fee pages and independent reviews. Educational information, not personal advice. Fees change over time, so always confirm against Trading 212’s fee information before you commit.