Best PEA brokers
The PEA is the most suitable French tax wrapper for long-term ETF investing. This comparison helps you choose the best broker for your needs.
How to choose a broker for your PEA
Start with three things: your average order size, the products you want to buy (index ETFs, French stocks or European stocks), and how often you invest.
The headline fee isn’t enough. A broker charging €0 per order may apply a spread to synthetic ETFs or charge currency conversion fees. A broker charging 0.20% may work out cheaper if you place small orders infrequently.
Check custody and transfer fees too. They’re often overlooked when opening an account and can be expensive if you switch brokers later.
Which PEA broker suits your profile?
You’re getting started and want your banking and investments in one place: BoursoBank is the simplest choice. €0 fees, no minimum deposit, everything in one place.
You want to keep fees down: work out the actual cost for the amount you usually invest. A 0.20% fee on a €500 order costs €1. A broker advertising €0 with a €1.99 minimum costs twice as much. Percentages mean nothing without a concrete amount.
You want a wide choice of ETFs: XTB has one of the widest PEA ETF catalogues, including ETFs tracking indices that BoursoBank or Fortuneo don’t always offer. Check the specific ETFs you’re interested in.
You’re choosing between a PEA, a CTO and active trading: this guide to choosing a broker explains the practical differences between these account types.
When a PEA isn’t the right choice
A PEA doesn’t let you buy US stocks directly or access Forex, CFDs or options. If that’s what you want, a CTO or trading account is more suitable. To understand what a PEA does allow, this PEA guide explains it in detail.
I'm a former financial engineer and spent seven years on trading floors and at a hedge fund. For over three years, I've been sharing my trading experience and what I know about finance.
Disclaimer: This comparison is for information only and does not constitute professional financial advice. Terms can change, so always check the broker’s official website before opening an account. Some links are affiliate links.
