Začínáme s investováním
How to Choose Your Very First Broker in the Czech Republic
Key takeaways
- For a first account, focus on three things: regulation, fees, and whether the broker carries the funds you want.
- Do not look for a perfect broker — look for a good-enough one and get started.
- For small regular deposits, trading fees and currency conversion costs are what matter most.
- Verify that the broker is licensed in the EU and segregates client assets.
- A broker can be changed later, so your first choice is not for life.
Choosing your first broker can keep a newcomer stuck for weeks — there are many of them and everyone compares something different. Here is a simplified process that will lead you to a decision without drowning in tables. A detailed comparison of offerings is in the article how to choose a broker for ETFs in the Czech Republic; this article is about your very first account.
Three things that genuinely matter
Do not evaluate dozens of parameters for your first broker. These three are enough:
- Regulation and safety — the broker must be licensed in the EU and hold client assets separately from its own. This is a non-negotiable requirement.
- Fees — for trading and especially for currency conversion (ETFs are often bought in euros or dollars). For small regular deposits, this matters most.
- Offer — does the broker carry the Irish UCITS ETFs you want to buy? Without that, low fees do not help.
What to watch for in fees
"Commission-free investing" is usually only part of the story. Hidden costs lurk in currency conversion, inactivity fees, or withdrawal fees. Calculate your total costs for your own style (how many deposits per month, in which currency) — not just the fee for a single trade. For a long-term investor, currency conversion makes a bigger difference than a one-off trading fee.
Common choices for Czech investors
Among newcomers, DEGIRO, Interactive Brokers, XTB, and Trading 212 are most frequently mentioned, along with robo-platforms Portu and Fondee for those who want a turnkey service. Each has different strengths and conditions change — treat these as starting points for comparison, not as a recommendation of any specific firm.
A five-minute process
- Pick 2–3 brokers that meet the regulation requirement and carry the funds you want.
- Compare their fees against your scenario (e.g. 2,000 CZK per month into one ETF).
- Open an account with the one that comes out best and has a clear, usable app.
- Send a small amount and try your first purchase to get a feel for the process.
Key takeaway
Your first broker is not a lifetime commitment — you can change it or transfer your portfolio at any time. What matters more than a perfect choice is flipping from comparing to actually making your first purchase. Once you have done that, follow the guide first steps, step by step and pick a fund from the ETF overview.
FAQ
How do I choose my very first broker?
Focus on three things: regulation and segregation of client assets, fees (especially for trading and currency conversion), and whether the broker has the funds you want to buy. Leave other parameters aside for now and most importantly — start.
Is "commission-free investing" really free?
Usually not entirely. A zero trading fee often comes with costs elsewhere — currency conversion, inactivity fees, or withdrawal fees. Calculate the total cost for your investing style, not just the price of a single trade.
Which broker should I choose?
There is no universal answer — it depends on your style. Among newcomers, DEGIRO, Interactive Brokers, XTB, and Trading 212 are often mentioned. Compare 2–3 of them against your own scenario and pick one that is good enough — this is not a lifetime decision.
Can I change my broker later?
Yes. You can close the account or transfer your portfolio to another broker. Your first choice is therefore not a lifetime commitment. Just check any transfer or withdrawal fees and any tax implications of selling when you switch.