DIF Broker
DIF Broker is a Portuguese regulated investment firm providing order reception, transmission, portfolio management, and investment consulting services to retail and professional clients across Portugal and seven European jurisdictions, currently operating as a subsidiary of BiG following its 2025 acquisition.
- Company typePrivate
- Founded2002
- HeadquartersAlcobendas, Spain
- Headcount11–50
- GTM typeB2C
- OfferingServices
What DIF Broker does
DIF BROKER – EMPRESA DE INVESTIMENTO, S.A. is a Portuguese regulated investment firm (CMVM Registration No. 276) that has operated in financial intermediation for over 20 years, with a registered office in Lisbon and a branch in Porto. The firm provides order reception and transmission, portfolio management, and investment consulting services to retail and professional clients across Portugal and seven additional European jurisdictions (Spain, Poland, Netherlands, France, Germany, Romania, and Italy) under EU free provision of services rules. Its core products are brokerage access, investment intermediation, and pre-contractual disclosure documents (KIDs) for instruments including ETFs, ETNs, and ETCs.
The firm's underlying technology is deliberately outsourced: DIF Broker does not execute orders directly but transmits them to an external trading platform owned by Saxo Bank A/S, which serves as execution venue and best-execution policy reference. The company has no proprietary trading platform, no app, no public API/SDK, and no disclosed AI capabilities. Its technology stack is therefore limited to its own digital onboarding and customer-support layers over the Saxo Bank backend.
DIF Broker's business model is transaction-fee based, with revenue derived from commissions on order transmission, portfolio management fees, and investment consulting fees. The published 'Preçário Máximo' (Maximum Fee Schedule) governs client pricing; specific rates are disclosed in customer-facing legal documentation rather than publicly. Since 2025, DIF Broker has been owned by BiG (Banco de Investimento Global), and new account openings have been redirected to BiG, while DIF Broker continues to operate as the licensed entity serving existing clients and maintaining its regulatory obligations. The leadership is led by CEO Pedro Lino.
DIF Broker firmographics
Firmographics- Name
- DIF Broker
- Legal name
- DIF BROKER – EMPRESA DE INVESTIMENTO, S.A
- Website
- https://difbroker.com
- Company type
- Private
- Founded year
- 2002
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- DIF Broker is a Portuguese regulated investment firm providing order reception, transmission, portfolio management, and investment consulting services to retail and professional clients across Portugal and seven European jurisdictions, currently operating as a subsidiary of BiG following its 2025 acquisition.
- Ownership category
- akta.pro rank
DIF Broker industry classification
Industry- Product category
- Retail Brokerage and Investment Services
- NAICS
- Investment Banking and Securities Intermediation (52315), Portfolio Management and Investment Advice (523940), Securities and Commodity Contracts Intermediation and Brokerage (5231)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)
- akta.pro primary industry
- Institutional Brokerage & Agency Execution (FSAEACAC)
Keywords
Where DIF Broker is headquartered
LocationHeadquarters
- HQ city
- Alcobendas
- HQ country
- Spain
- HQ region
- Europe
Offices2 records
Markets served
DIF Broker business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Financial Intermediation Services: DIF Broker operates as a financial investment company providing intermediation services. Revenue is generated through commissions and fees associated with order reception and transmission, portfolio management, and investment consulting services. The company publishes maximum fee schedules (Preçário Máximo) but specific pricing is not publicly disclosed on the website.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Financial intermediation services with commission-based pricing |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels3 records
DIF Broker product offering
Product offeringCore offering
DIF Broker is a Portuguese investment firm (Empresa de Investimento) regulated by CMVM that provides financial intermediation, order reception and transmission, brokerage, portfolio management, and investment consulting services to individual and professional investors. The firm does not execute orders directly but transmits them to the external trading platform operated by Saxo Bank A/S, providing clients access to multiple financial instruments including stocks, bonds, ETFs, derivatives, ETNs, and ETCs. Following its acquisition by BiG (Banco de Investimento Global), new account openings are being redirected to BiG's platform while DIF Broker continues to serve existing clients.
Product overview
DIF Broker is a financial investment brokerage company (EMPRESA DE INVESTIMENTO, S.A.) providing investment intermediation services and access to financial markets. The company operates as a multi-product financial services platform offering online account opening, investment intermediation services, and access to external trading platforms (Saxo Bank A/S). The core offering centers on financial intermediation with pre-contractual documentation (KIDs) for various instruments including ETFs, ETNs, and ETCs. Following acquisition by BiG, the company continues to serve clients seeking brokerage and investment services under CMVM regulation.
Differentiator
Problem solved
Functional benefit
Products and services
- Online Account Opening Service Online service allowing customers to open investment accounts through the DIF Broker website, enabling access to trading platforms and financial instruments. Following acquisition by BiG, new account openings are redirected to the BiG platform (big.pt/AbrirConta/AberturaDeContas).
- Investment Intermediation Services Core brokerage service providing access to multiple financial instruments including ETFs, ETNs, ETCs, stocks, bonds, and other securities through partnerships with regulated platforms. Services include order reception and transmission for individual and professional investors.
- Trading Platform Access Access to external trading platforms operated by Saxo Bank A/S for order reception, transmission, and execution of financial instruments. DIF Broker does not execute orders directly but transmits them to this external regulated platform.
- KIDs (Key Information Documents) Pre-contractual information documents for investors covering ETF, ETN, and ETC financial instruments, required under Portuguese securities law (Código de Valores Mobiliários). Provides standardized disclosure information before investment decisions.
Quantifiable outcome
- Regulatory protection through SII up to €25,000 per investor
Companies that use DIF Broker
Customer profileSegments2 records
Ideal customer profiles2 records
DIF Broker technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
DIF Broker partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Saxo Bank A/ScoreSaxo Bank A/S owns and operates the external trading platform that DIF Broker accesses for order execution. DIF Broker receives and transmits orders to this platform, which is evaluated as part of DIF Broker's counterparty knowledge process. Best execution policy from Saxo Bank is referenced.
Scale indicators4 records
Recent moves5 records
Expansion highlights4 records
DIF Broker competitors and assessment
Company assessmentDirect peers
- eToro: Multi-asset retail investment platform with strong presence in Southern Europe, competing for the same retail intermediation customers as DIF Broker.
- Trading 212: Commission-free retail broker offering stocks, ETFs, and CFDs across European markets, directly addressing DIF Broker's retail customer base on price and UX.
- Banco Invest: Portuguese online broker offering trading platforms and investment products to retail and professional clients, directly competing with DIF Broker in the Portuguese intermediation market.
- DEGIRO: Low-cost European online broker active in Portugal and across DIF Broker's free-provision jurisdictions, competing directly on price for retail self-directed investors.
- Interactive Brokers: Global online broker offering multi-asset trading with institutional-grade execution to retail and professional clients across Europe, including Portugal and Spain.
- BiG (Banco de Investimento Global): Acquirer of DIF Broker and direct Portuguese investment firm offering trading platforms, brokerage, and investment solutions under similar CMVM regulation. Operates an overlapping business model that has now absorbed DIF Broker's franchise.
- Saxo Bank: White-label technology partner and pan-European online broker providing multi-asset trading infrastructure. Operates as both DIF Broker's execution partner and a competing retail broker across DIF Broker's footprint.
- XTB: European-listed retail broker offering CFDs, stocks, and ETFs through proprietary platforms, active in Portugal, Spain, Italy, Germany and other DIF Broker jurisdictions.
Broad incumbents
- Flatex (flatexDEGIRO): Larger German-headquartered online broker (parent of DEGIRO) offering multi-asset retail brokerage across Europe, including Iberian markets, with broader product coverage than DIF Broker.
Regional players
- Caixa Direct / CGD Brokerage: Brokerage arm of Caixa Geral de Depósitos, Portugal's largest retail bank, offering in-house investment and brokerage services to its captive retail client base in Portugal.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
DIF Broker social profiles
Digital presenceDIF Broker compliance and trust
Trust signalCompliance7 records
DIF Broker financial estimates
Financial estimateRevenue estimate
Valuation estimate
DIF Broker leadership team
Management profileNumber of profiles
Profiles1 record
DIF Broker funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DIF Broker M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DIF Broker
What does DIF Broker do?
DIF Broker is a Portuguese investment firm (Empresa de Investimento) regulated by CMVM that provides financial intermediation, order reception and transmission, brokerage, portfolio management, and investment consulting services to individual and professional investors. The firm does not execute orders directly but transmits them to the external trading platform operated by Saxo Bank A/S, providing clients access to multiple financial instruments including stocks, bonds, ETFs, derivatives, ETNs, and ETCs. Following its acquisition by BiG (Banco de Investimento Global), new account openings are being redirected to BiG's platform while DIF Broker continues to serve existing clients.
Is DIF Broker a public or private company?
DIF Broker is a private company. It is classified as corporate owned and is currently operating.
When was DIF Broker founded?
DIF Broker was founded in 2002. It employs 11 to 50 people.
Where is DIF Broker based?
DIF Broker is headquartered in Alcobendas, Spain, in the Europe region.
How does DIF Broker make money?
One revenue line is on record: financial Intermediation Services.
Who are DIF Broker's main competitors?
Direct peers on record are eToro, Trading 212, Banco Invest, DEGIRO, Interactive Brokers, BiG (Banco de Investimento Global), Saxo Bank and XTB. Flatex (flatexDEGIRO) is listed as a broad incumbent. Caixa Direct / CGD Brokerage is listed as a regional player.
Does DIF Broker have an API?
No public API is recorded for DIF Broker.
What industry is DIF Broker in?
DIF Broker's product category is Retail Brokerage and Investment Services. Its primary akta.pro industry code is FSAEACAC, Institutional Brokerage & Agency Execution. Its NAICS code is 52315 and its SIC code is 6211.