Head-to-head
Monzo vs Trade Republic: which is better in Europe? (2026)
Quick answer
Monzo scores higher overall (79 vs 71). Below is exactly where each one wins.
Last updated 15 August 2026 · Cross-checked against official sources
Data reviewed by Ilya ChernetskiyFounder and editor, nomoneda
This head-to-head was generated from our rankings: both services appear in the same shortlists. The facts and scores below are the same ones used everywhere else on the site.
At a glance
| Monzo | Trade Republic | |
|---|---|---|
| Score | 79 | 71 |
| No DNI | No | No |
| Holds USD | No | No |
| USD APY | — | — |
| Cashback | No | Yes |
| FX model | Mastercard exchange rate with no Monzo markup on card spend; the account itself is euro-only | Visa exchange rate applied directly with no markup (EUR-only account; FX arises only on card spend and foreign ATM use) |
| Docs needed | Needs Irish address | No local address needed |
Bottom line
Monzo79/100
Deposit protection: DGS €100k (IE)
FAQ
- Monzo or Trade Republic — which is better?
- Monzo scores higher overall in our ranking, but the right choice depends on whether you prioritise fees, USD support or onboarding.
- Can I use both?
- Yes — many relocants keep one for receiving USD and another for daily spending.