Updated September 29, 2026 · BrokerCue Editorial Team
Smartbroker vs Whitebox
Smartbroker vs Whitebox: the differences
| Compare |  Smartbroker |  Whitebox |
|---|---|---|
| Minimum deposit | €0Lower | €25 |
| Account fee | €0Lower | €0.35 to €0.95 |
| Markets | Stocks, ETFs, Crypto, Bonds, Funds, MetalsCovers more | ETFs |
| Regulators | Federal Financial Supervisory Authority (BaFin)Covers more | Bundesanstalt fuer Finanzdienstleistungsaufsicht (BaFin) |
| Platforms | Web, App | Not confirmed |
| Interest on cash | 2.25% | Not confirmed |
Same on both: Investor protection (EU ICS up to EUR 20,000).
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Key differences
- Smartbroker scores higher overall: 9.4 vs 8.9.
- Regulators: only Smartbroker offers Federal Financial Supervisory Authority (BaFin).
- Regulators: only Whitebox offers Bundesanstalt fuer Finanzdienstleistungsaufsicht (BaFin).
- Minimum deposit is lower at Smartbroker: €0 vs €25.
- Account fee is lower at Smartbroker: €0 vs €0.35 to €0.95.
- Markets: only Smartbroker offers Stocks, Crypto, Bonds.
Our verdict on each
Smartbroker
Smartbroker runs a European brokerage with a €0 account fee and a €0 minimum deposit, which puts it at 1 on the site for deposit levels. It suits investors who want stocks, ETFs, funds and crypto in one account and would rather not pay a monthly charge.
Whitebox
Whitebox is a German robo-advisor for investors who want portfolios built from ETFs and want the fee and the entry amount settled up front: a deposit of €25 and fees of 0.35% to 0.95%. It is supervised by the Bundesanstalt fuer Finanzdienstleistungsaufsicht (BaFin) with deposits covered by EU ICS up to EUR 20,000.
Score breakdown
| Area | Smartbroker | Whitebox |
|---|---|---|
| Cost | 9.5Higher | 9.1 |
| Offer | 9.2Low-fees model across stocks, etfs and crypto, supervised by BaFin and Federal Financial Supervisory Authority (BaFin) and reachable on email, phone and help centre. | 9.2 |
| Trust | 9.5Higher | 8.7 |
Where they rank in our lists
| Ranking | Smartbroker | Whitebox |
|---|---|---|
| Stock and ETF brokers | 60 of 471 | 170 of 471 |
Licences and countries
| Country | Smartbroker | Whitebox |
|---|---|---|
| Germany | Federal Financial Supervisory Authority (BaFin) MiCA CASP 391200N0BYCZF2F43264 |
Available in 1 country for both.
Feature by feature
| Markets | Smartbroker | Whitebox |
|---|---|---|
| Stocks | Yes | No |
| ETFs | Yes | Yes |
| Crypto | Yes | No |
| Bonds | Yes | No |
| Funds | Yes | No |
| Metals | Yes | No |
What we checked
Smartbroker
- smartbrokerplus.de: 10 facts, checked September 26, 2026
- esma.europa.eu: 2 facts, checked September 26, 2026
Whitebox
- whitebox.eu: 6 facts, checked September 26, 2026
- robo-advisorfinder.com: 3 facts, checked September 26, 2026
Every fact side by side
| Fact | Smartbroker | Whitebox |
|---|---|---|
| Features | Crypto, Mobile app | Not confirmed |
| Pricing model | Low fees | Not confirmed |
| Legal entity | Smartbroker AG | Whitebox GmbH |
| Headquarters | Germany | Germany |
| Founded | Not confirmed | 2016 |
| Support channels | Email, Phone, Help centre | Email, Phone, Help centre |
Where each stands against the rest
| Fact | Smartbroker | Whitebox | Median |
|---|---|---|---|
| Minimum deposit | €0below the median | €25above the median | €1 |
| Account fee | €0at the median | €0.35 to €0.95highest quarter | €0 |
| Interest on cash | 2.25%below the median | Not confirmed | 3% |
Median across 52 listed brokers.
Pros and cons
Smartbroker
Pros
- Account fee of €0, matching the $0 account fee at eToro and sitting at 1 among 138 brands on account fee.
- Nothing to pay to open, with a minimum deposit of €0 against a site median of €4.64.
- One account covers stocks, etfs and crypto.
Cons
- Protection is limited to what the scheme pays, listed as EU ICS up to EUR 20,000, so larger balances rely on your own holdings.
- Support runs on email, phone and help centre only, with no live chat listed.
- Markets stop at stocks, etfs and crypto, with no forex, options or futures listed.
Whitebox
Pros
- Fees of 0.35% to 0.95% sit below the robo-advisor median, which is 0.35%.
- The account opens at €25, so a small starting sum is enough to be invested.
- Portfolio types of etf, esg and cash give a standard, ESG and cash route through the same account.
Cons
- Only etfs are covered, so there are no individual shares or wider markets to trade.
- The charge is quoted as a range, 0.35% to 0.95%, so the top of that range costs more than the bottom for the same service.
- Support runs on email, phone and help centre, with no live chat among the channels.
Who each suits
Smartbroker
Who it suits
- European investors who want a German-regulated account holding stocks, etfs and crypto under one roof.
- Anyone with spare cash to park while they decide, with 2.25% on the daily deposit account.
- People who trade away from a desk, since access runs through Web and App.
Who should look elsewhere
- Vantage, if you would rather start against a published floor of $5 than an open entry of €0.
- eToro, if your trading runs past the stocks, etfs and crypto list here and you want to weigh its range against Smartbroker's.
- Anyone holding a large cash balance, since protection is listed as EU ICS up to EUR 20,000.
Whitebox
Who it suits
- Euro-area investors who want a locally regulated firm choosing and rebalancing the portfolio for them.
- First-time investors who would rather hold a set ETF strategy than choose funds themselves.
- Investors who want ESG and cash options alongside a standard ETF plan, covered by etf, esg and cash.
Who should look elsewhere
- eToro, for a management fee of 0% and a wider choice of markets to trade.
- Axos Invest, for readers who would rather hold their money under SIPC.
- Vivid Standard, for business plans where fees run 0.5% to 1.5%, above 0.35% to 0.95%.
Country by country
| Country | Smartbroker | Whitebox |
|---|---|---|
| Germany | Yes | Yes |
Questions about each
Smartbroker
What does Smartbroker charge to hold an account?+
The account fee is €0, so there is no monthly charge for keeping the account open. Entry is also open, with a minimum deposit of €0. Trading costs still apply on individual orders, and the pricing page is where per-trade charges are set out.
Is my money protected at Smartbroker?+
Smartbroker is regulated by BaFin and Federal Financial Supervisory Authority (BaFin), and the listed investor protection is EU ICS up to EUR 20,000. The German regulator supervises the firm, while the compensation scheme pays out on eligible balances up to the stated limit.
Whitebox
What does Whitebox charge to manage my money?+
The fee is 0.35% to 0.95%, charged as the management fee, and the same figure is listed as the account fee of €0.35 to €0.95. Because it is a range, the plan you pick sets where you land inside it. It is the ongoing cost of the managed portfolio, not a one-off charge.
How much money do I need to open an account?+
The minimum deposit is €25, a small entry point for a managed portfolio. The robo-advisor median for a minimum investment is €60.06, so the bar sits toward the lower end of the category. Starting small is realistic.
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