Best Online Brokers in Hungary 2026
MNB-regulated and MiFID II-passported brokers for Hungarian investors — ranked by fees, 15% SZJA CGT, TBSZ tax account (0% after 5 years) and platform quality.
✅ MNB / MiFID II EU
🇭🇺 15% SZJA CGT
💡 TBSZ: 0% tax after 5 years
📊 Budapest Stock Exchange / BUX
🔬 Tested with real accounts
🔄 Last updated: September 2026 · Reviewed by WhichBroker Research Team
⚠️ Risk warning: Investing involves risk of loss. Capital is not guaranteed. Some links on this page are affiliate links — this does not affect our rankings.
What to check before choosing a broker in Hungary
Hungary is an EU member with an active retail investment market and a unique and highly valuable tax-advantaged account — the TBSZ (Tartós Befektetési Számla). If you hold investments in a TBSZ for 5 years, your capital gains become completely tax-free. This makes Hungary, for patient long-term investors, one of the most tax-efficient EU countries for investing.
1. Regulation: MNB and MiFID II. Magyar Nemzeti Bank (MNB) — the National Bank of Hungary — is the financial regulator. Hungary is a full EU member — MiFID II passporting applies. Verify at mnb.hu.
2. CGT: 15% SZJA — but TBSZ reduces it to 0% after 5 years. Hungary's personal income tax (SZJA — személyi jövedelemadó) is a flat 15% on capital income. However, the TBSZ account provides a step-down: investments held in TBSZ for 3 years are taxed at 10% on gains; held for 5 years, gains are completely tax-free. The TBSZ is opened for a calendar year and contributions made within that year — a new TBSZ must be opened each year.
3. SZOCHO — social contribution tax on capital income. In addition to 15% SZJA, some forms of capital income in Hungary attract the SZOCHO (szociális hozzájárulási adó — social contribution tax). For 2026, dividends from non-EU countries and certain interest income may attract an additional 13% SZOCHO up to a cap. Dividends from EU-listed companies are generally SZJA-only. Consult a Hungarian adótanácsadó (tax advisor) for your specific situation.
4. Currency: Hungarian forint (HUF). Hungary uses the HUF — not yet in the Eurozone. OTP Bank's OTP Bróker and Erste Hungary offer HUF-native accounts. EUR-based brokers (DEGIRO, IBKR) require HUF → EUR conversion. Note that HUF has historically been a volatile currency — EUR-denominated accounts may be preferred by some investors for currency diversification.
5. Budapest Stock Exchange (BÉT) and BUX index. The Budapest Stock Exchange index BUX includes OTP Bank (OTP), MOL Magyar Olaj (MOL), Richter Gedeon (RICHT), Magyar Telekom (MTELEKOM), and Wizz Air (WIZZ). OTP Bróker and Erste Hungary offer best BÉT access.
Top 4 Best Online Brokers in Hungary — Detailed Reviews
OTP
OTP Bróker
★★★★★
Top pick
Commission
0.2–0.3% Hungarian stocks
Stocks
✓ BÉT + international
Regulation
MNB (Hungarian)
XTB
XTB
★★★★½
Best for active traders
Commission
€0 up to €100k/month
Stocks
✓ 3,000+ global stocks
CFDs / Forex
✓ Full CFD/FX
DG
DEGIRO
★★★★☆
Best low-cost EU
Commission
€1 + €1 handling
Currency
EUR-based (HUF FX)
IB
Interactive Brokers
★★★★½
Best global access
Commission
From $0.005/share
CFDs / Forex
✓ Forex + futures
Investor protection
SIPC $500k
⚠️ Investing involves risk of loss. CFD trading carries high risk — 51–80% of retail CFD accounts lose money. Capital is not guaranteed.
How to Get Started with a Broker in Hungary
1
Open a TBSZ for 0% CGT after 5 years
The TBSZ is Hungary's most powerful investing advantage. Open a TBSZ at the start of each calendar year, deposit your investment capital that year, and hold for 5 years. After 5 years, all gains are completely exempt from the 15% SZJA. After 3 years you get a reduced 10% rate. OTP Bróker, Erste Hungary, and Concorde offer TBSZ accounts. EU brokers (DEGIRO, IBKR, XTB) do NOT offer TBSZ.
2
Understand TBSZ annual structure
A new TBSZ must be opened for each calendar year — you cannot add funds to a prior year's TBSZ after the year ends. This means if you invest over 3 years, you'll have 3 separate TBSZ accounts each maturing at different times. Plan accordingly. Maximum contributions per TBSZ are unlimited (unlike some other EU wrappers).
3
Open account with Hungarian identification
OTP Bróker and other Hungarian brokers require Hungarian adóazonosító jel (tax identification number) and Hungarian bank account for TBSZ accounts. EU brokers (DEGIRO, XTB) accept standard EU passport and proof of address KYC. For TBSZ specifically, a Hungarian MNB-regulated broker and Hungarian tax ID are required.
4
Declare foreign broker income in Hungarian SZJA return
Hungarian brokers (OTP, Erste, Concorde) issue annual reports to the Hungarian National Tax Authority (NAV — Nemzeti Adó- és Vámhivatal). Foreign brokers (DEGIRO, IBKR) do not report to NAV automatically — declare all capital gains, dividends, and foreign WHT credits in your annual személyi jövedelemadó bevallás (SZJA return).
🇭🇺 Hungary: Country Environment Blueprint
EU / MiFID II
✅ Full EU member. MiFID II passporting applies — EU/EEA-regulated brokers can serve Hungarian residents. UK FCA-only brokers NOT valid post-Brexit. Hungary is NOT in the Eurozone (uses HUF).
Investor Protection
HUF 6,000,000 (approx. €15,000) per investor under the Hungarian Investor Protection Fund (Befektető-védelmi Alap). Bank deposits: up to €100,000 under the National Deposit Insurance Fund (Országos Betétbiztosítási Alap).
Capital Gains (SZJA)
Flat 15% SZJA on capital gains on ordinary accounts. No annual CGT exemption. Losses can generally be offset against gains in the same tax year. Consult a Hungarian adótanácsadó (tax advisor) for loss carry-forward rules.
TBSZ Account
Long-term Investment Account 3 years: SZJA rate reduces to 10% on gains.
5 years: Gains are completely tax-free (0%). Dividends within TBSZ are also tax-advantaged. New TBSZ must be opened each calendar year. Available only through MNB-regulated Hungarian providers.
SZOCHO (Social contribution tax)
Dividends from non-EU/EEA sources may attract additional 13% SZOCHO (up to annual cap). Dividends from EU-listed companies: typically only 15% SZJA applies. Capital gains: generally SZJA-only. Verify current rules with NAV (
nav.gov.hu) or a tax advisor.
Dividend Withholding Tax
Hungarian company dividends: 15% SZJA withheld at source. Foreign dividends: 15% SZJA applies; foreign WHT credited under applicable double tax treaty (adóegyezmény). Non-treaty country dividends may not allow WHT credit.
US ETF Access (PRIIPs)
⚠️ Hungary is an EU member — PRIIPs applies. US-domiciled ETFs restricted for retail investors. Use UCITS-compliant equivalents. XTB, DEGIRO, and OTP Bróker all offer UCITS ETF selections.
Domestic Exchange & Index
Budapesti Értéktőzsde (BÉT) — Budapest Stock Exchange · Index: BUX Index
Key stocks: OTP Bank (OTP), MOL Magyar Olaj (MOL), Richter Gedeon (RICHT), Magyar Telekom (MTELEKOM), Wizz Air (WIZZ)
🏠 Local Platforms to Know
OTP
OTP Bróker — Hungary's largest bank's brokerage arm. MNB-regulated. TBSZ available. HUF-native. Full Budapest Stock Exchange (BÉT) access. Integrated with OTP banking. Most popular broker among Hungarian retail investors. Higher fees than EU discount brokers.
EST
Erste Befektetési Zrt. — Erste Bank Hungary's investment subsidiary. MNB-regulated. TBSZ available. HUF-native. BÉT access. Erste Group's regional network. Good for existing Erste Bank Hungary customers wanting integrated banking and TBSZ investing.
CON
Concorde Értékpapír Zrt. — Hungarian independent broker. MNB-regulated. TBSZ available. HUF-native. Full BÉT and international access. Research-focused. Popular among more sophisticated Hungarian investors who want dedicated Hungarian broker service and market analysis.
RBB
Raiffeisen Bank Hungary — RaiffeisenDirect — Raiffeisen Bank Hungary's online investment service. MNB-regulated. TBSZ available. HUF-native. BÉT access. Raiffeisen Group's Eastern European network provides good cross-border coverage for Hungarian investors with Austrian and CEE exposure.
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How we chose these platforms
Our team tested each platform with Hungarian residents, evaluating MNB/MiFID II regulation, TBSZ account availability, SZJA/SZOCHO reporting quality, HUF-native account support, and Budapest Stock Exchange access. Rankings updated regularly.
Frequently Asked Questions
What is Hungary's TBSZ and how does the 5-year tax-free rule work? +
The TBSZ (Tartós Befektetési Számla — Long-term Investment Account) is Hungary's tax-advantaged investment account. Open a TBSZ in a calendar year, make all your investment deposits that year, and hold for the qualifying period. After 3 years, capital gains are taxed at a reduced 10% (instead of 15%). After 5 years, all gains are completely tax-free (0% SZJA). A new TBSZ must be opened each calendar year — you cannot add to a prior year's TBSZ. Available only through MNB-regulated Hungarian providers (OTP Bróker, Erste, Concorde). EU brokers (DEGIRO, IBKR, XTB) do NOT offer TBSZ accounts.
What is Hungary's SZJA capital gains tax rate? +
Hungary applies a flat 15% personal income tax (SZJA — személyi jövedelemadó) on capital gains and investment income on ordinary accounts. The TBSZ account reduces this to 10% after 3 years and 0% after 5 years. Some capital income may also attract 13% SZOCHO (social contribution tax) in addition to SZJA — particularly dividends from non-EU companies. For EU-listed company dividends, typically only 15% SZJA applies. Consult NAV (nav.gov.hu) or a Hungarian adótanácsadó for current rules.
Can EU brokers serve Hungarian investors? +
Yes. Hungary is a full EU member and MiFID II passporting applies. DEGIRO (AFM, Netherlands), XTB (KNF, Poland), Interactive Brokers (CSSF, Luxembourg), and Trade Republic (BaFin, Germany) can all legally serve Hungarian residents. However, they do not offer Hungarian TBSZ accounts — only MNB-regulated Hungarian providers can offer TBSZ. For maximum tax efficiency, Hungarian investors typically use a domestic broker for TBSZ investing and may additionally use EU brokers for non-TBSZ trading activity.
Is Hungary in the Eurozone? +
No. Hungary is an EU member but uses the Hungarian forint (HUF), not the euro. It has delayed Eurozone entry for political and economic reasons. EUR-based EU brokers (DEGIRO, IBKR, Trade Republic) require HUF → EUR conversion for deposits, adding FX costs both ways. Hungarian brokers (OTP, Erste, Concorde) offer HUF-native accounts with no FX costs for Hungarian stock trading. Some investors prefer EUR-denominated accounts for currency diversification given HUF volatility.