Lightyear
Estonian investment platform with zero execution fees on ETFs, a multi-currency account and an interest account, regulated by the Estonian FSA
Quick Overview
| Company | Lightyear Europe AS |
|---|---|
| Category | Stock Trading Apps and Online Brokers |
| Headquarters | Tallinn, Estonia |
| Founded | Not stated |
| EU Presence | Yes - Estonia (EU) |
| Data Location | Not stated on the pages checked |
| Open Source | No |
| GDPR Compliant | Yes |
| Self-Hosting | No |
| Main Features | Stocks, ETFs and funds, ready-made plans, crypto, interest on cash, multi-currency account, EUR/USD/GBP accounts |
| Pricing | ETFs: no execution or custody fees. US stocks 0.1% (max $1, min $0.10), EUR stocks EUR 1 per order, currency conversion 0.35% |
| Best For | Investors in the EU and UK who mainly buy ETFs and hold more than one currency |
| Replaces | Robinhood, Webull |
Detailed Review
Lightyear is built for people who hold a mix of ETFs and single stocks in more than one currency. Its pricing page lists seven things you pay for and states that ETF orders have no execution or custody fees, although the fund manager still charges its own costs.
In Europe the service is provided by Lightyear Europe AS, an investment firm registered in Estonia (company number 16235024) and licensed by the Estonian Financial Supervision Authority. A separate company, Lightyear UK Ltd, serves UK customers under FCA authorisation.
Fees in Plain View
The pricing page names the full list: 0.35% on currency conversion, 0.1% on US stocks (capped at $1 per order, with a $0.10 minimum), GBP 1 on UK stocks, EUR 1 on EUR-denominated stocks, bonds, ETNs and ETCs, 0.1% on other European stocks and 0.45% on crypto.
Account fees, deposits by bank transfer and the multi-currency account are free according to the same page.
Investor Protection and Custody
Customer assets are described as held separately from the firm's own assets with authorised custodians. EU customers are covered up to EUR 20,000 by the Estonian Investor Protection Sectoral Fund, while crypto-assets are not covered by any EU compensation scheme.
US securities are held with Alpaca, a FINRA-regulated partner, which Lightyear says gives SIPC protection up to $500,000 on those holdings.
Cash and Plans
Alongside trading there is an interest account (2.45% APY shown on the site, money market funds at 0.15% or less in fees) and ready-made investment plans. Lightyear states it is an investment platform and not a bank.
Limitations to Consider
Lightyear is not a bank, so there is no payment card or current account. US securities are custodied by a US partner (Alpaca), which matters if your aim is to avoid US infrastructure altogether. Crypto is outside EU investor compensation. Compared with Scalable Capital it offers no derivatives trading on the pages checked.
Who Should Use Lightyear
EU and UK investors who want ETF investing with transparent fees and a multi-currency account from a licensed European investment firm.
Pros and Cons
Pros
- No execution fees on ETFs
- Short, fully listed fee table
- EUR, USD and GBP accounts
- Licensed in Estonia, authorised across the EU
- Interest on uninvested cash
Cons
- Not a bank, no card or current account
- US shares held via a US custodian
- Crypto has no EU compensation scheme
- Smaller product range than a full bank broker
Alternatives to Lightyear
Other European stock trading apps and online brokers worth comparing before you decide:
Scalable Capital
Germany · Broker and bank with savings plans from EUR 1
Freetrade
United Kingdom · Commission-free UK investing app with ISA and SIPP
Nordnet
Sweden · Nordic bank and broker with four courtage classes
DEGIRO
Netherlands · Online broker with Core Selection ETFs and low per-trade fees
See all European stock trading apps and online brokers or compare them directly against Robinhood on our alternatives page.
Frequently Asked Questions
No. Its own site states that it is an investment platform. Lightyear Europe AS is a licensed investment firm supervised by the Estonian Financial Supervision Authority.
The pricing page lists no execution or custody fees for ETFs. The fund manager's own costs still apply, and currency conversion costs 0.35% when you trade in a currency other than your account currency.
US securities are held with Alpaca, a FINRA-regulated partner, according to Lightyear's site. EU holdings are covered by the Estonian Investor Protection Sectoral Fund up to EUR 20,000.