How to Open a PEA in France in 2026: A Step-by-Step Guide
The PEA is the most tax-efficient account for investing in the stock market in France. Good news: opening one takes 10 minutes, costs nothing, and can be done with just €10. Here's exactly how, step by step.
The PEA opening date starts the 5-year tax clock. Even if you have nothing to invest today, opening a PEA with €10 now buys you tax time. In 5 years, all your gains will be taxed at 18.6% instead of 31.4%.
Step 1 — Check that you can open a PEA
The conditions are simple. To open a PEA in 2026, you must:
- Be a French tax resident
- Be of legal age (18 or older)
- Not already hold a PEA — one PEA per person
If you are between 18 and 25 and attached to your parents' tax household, you can open a PEA Jeunes ("youth PEA"), capped at €20,000 in deposits. It automatically converts to a standard PEA (€150,000 ceiling) once you become tax-independent.
Step 2 — Choose the type of PEA
There are two main families of PEA:
| Type | For whom | Characteristics |
|---|---|---|
| Bank PEA | Most investors | You buy your ETFs and stocks directly via a linked securities account. The most flexible and cheapest. |
| Insurance PEA | Cautious / hands-off profiles | Managed by an insurer, often as a managed portfolio. More fees, less freedom over holdings. |
For a beginner who wants to invest in ETFs (MSCI World, S&P 500), the bank PEA with an online broker is the default choice: fewer fees, full control over your purchases.
Note: there is also the PEA-PME, dedicated to small and mid-cap companies, with a €225,000 ceiling that can be combined with the standard PEA. It's a niche product, of little relevance for getting started.
Step 3 — Compare and choose your broker
This is the step with the biggest long-term impact. Two fees to watch:
- Trading fees: what you pay on each buy or sell order. Crucial if you invest every month.
- Custody fees: annual fees on the value of your portfolio. To be avoided — good online brokers have scrapped them.
In 2026, the most used brokers for a PEA in France are:
| Broker | Profile | Strengths |
|---|---|---|
| Trade Republic | Beginner, mobile-first | Fully mobile PEA, low fees, popular with young investors |
| Bourse Direct | Self-directed investor | Very low trading fees, no custody fees |
| Fortuneo | Beginner to advanced | No custody fees, clean interface, online bank |
| BoursoBank | Boursorama clients | Banking integration, competitive fees |
| Interactive Brokers (IBKR) | Advanced / international | Among the lowest fees on the market, professional platform, PEA available |
PEAs opened in classic bank branches often charge high trading fees and sometimes custody fees. Over 20 years, that difference can amount to thousands of euros lost. Prefer an online broker.
Step 4 — Complete the application
Opening is done entirely online. Prepare:
- A valid ID (national ID card or passport)
- A proof of address less than 3 months old (utility bill, rent receipt…)
- Your bank details (RIB) of the checking account used for transfers
- Sometimes a tax notice (proof of tax residence)
You fill in a knowledge questionnaire (required by regulation), upload your documents, and sign electronically. The whole thing usually takes 5 to 15 minutes. Account validation happens within 1 to a few business days.
Step 5 — Make your first deposit
Once your PEA is validated, you fund it by bank transfer from your checking account. Most online brokers require no minimum amount: you can deposit €10 or €10,000.
The transfer usually takes 1 to 3 days to be credited. Until the funds arrive, you can't place an order.
Step 6 — Place your first order
Once your PEA is funded, you can buy your first ETF. For a beginner, the most consensual choice is a PEA-eligible MSCI World or S&P 500 ETF (synthetic versions).
You search for the ETF ticker (e.g. CW8 for the Amundi MSCI World, ESE for the BNP S&P 500), enter the amount or number of shares, and confirm the order. Congratulations — you're invested.
To dig deeper into ETF selection, read our complete MSCI World ETF guide and our S&P 500 vs MSCI World comparison.
How the tax rules work, in brief
Once your PEA is open, remember these 2026 figures:
- Deposit ceiling: €150,000 (€300,000 for a couple)
- Before 5 years: any withdrawal closes the plan, gains taxed at 31.4% (flat tax / PFU)
- After 5 years: free withdrawals, gains taxed only with social charges at 18.6% (income tax at 0%)
For full details, see our PEA tax guide.
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Create my free account →Frequently asked questions
How long does it take to open a PEA?
The online application takes 5 to 15 minutes. Account validation happens within 1 to a few business days, and the first transfer takes 1 to 3 days to be credited. So count a few days between the request and your first possible purchase.
Is there a minimum amount to open a PEA?
No, most online brokers require no minimum. You can open with €10. The key is to open early to start the 5-year tax clock.
Can you transfer a PEA from one broker to another?
Yes, without losing the tax seniority. A transfer is not a withdrawal: your account age is preserved. See our PEA transfer guide.
What can you buy inside a PEA?
Shares of European companies and PEA-eligible ETFs (including synthetic ETFs replicating global indices like the MSCI World or S&P 500). Direct US stocks and some ETFs are not eligible.