DEGIRO Broker Review

DEGIRO launched its online brokerage services in 2013.  Based in the Netherlands, the brokerage soon expanded across 18 European countries and joined forces with flatex in 2020.

In early 2021, DeGiro B.V. then merged with flatexDEGIRO Bank AG.  It is registered with the Chamber of Commerce and Industry in Amsterdam and holds a banking license.

The broker is supervised by top-rated financial regulators such as the Netherlands Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB).

Pros and cons

 

With a low fee structure, clients have the opportunity to benefit from a global diversification of assets.  It also offers web and mobile trading platforms that are well-structured and user-friendly.

Currently, Forex trading is not available, and educational and research tools are limited.  Moreover, deposits may only be made from your registered bank account and not a debit and or credit card.

  • Low fee structure
  • Supervised by top-class regulators
  • Global available assets
  • User-friendly web and mobile platform
  • Forex is unavailable
  • Limited research and educational tools
  • No credit/debit card deposit

Main features

Country of regulation

Netherlands

Withdrawal fee

No cost

Products offered

Stock, ETF, Fund, Bond, Options, Futures, Crypto

Minimum deposit

€0

Deposit with electronic wallet

Available

Deposit with bank card

Not available

Inactivity fee

No

Demo account

No

Number of base currencies

9

Fees

DEGIRO offers low trading fees for all asset classes including, stocks and options.  Non-trading fees are also low, with zero inactivity or withdrawal amounts.

The following terms related to broker fees are necessary to track:

  • Trading fees:  Takes place when you trade.  These can be commissions, spreads, financing rates, and conversation fees.
  • Non-trading fees:  Includes amounts not directly associated with trading, such as withdrawal and or inactivity fees.

In the table below, you will find the most significant fees of DEGIRO for each asset class. In the case of stock investing the most major fees are commission.

DEGIRO costs
Assets Cost level Cost terms
US stock Minimal $0.0004 per share + €0.5
UK stock        – Not available
German stock Minimal 0.1% + €7.5 and 0.2% annual administration cost
Inactivity cost Minimal No inactivity cost

DEGIRO costs

Stock, ETF, and warrant commission pricing
Market Commission Max
United Kingdom £1.75 + 0.014% £5
USA €0.5 + $0.004/share
Germany – XETRA €4 + 0.05% €60
Germany – Zertifikate-Börse Frankfurt €2 + 0.11%
Germany – Frankfurt (Stocks) €7.5 + 0.09%
Belgium, Denmark, Finland, France, Ireland, Italy, The Netherlands, Norway, Austria, Portugal, Spain, Sweden, Switzerland €4 + 0.05% €60
Canada €2 + CAD 0.01 per share
Australia, Hong Kong, Japan, Singapore €10 + 0.06%
Poland €5 + 0.16%
Hungary, Greece, Czech Republic, Turkey €10 + 0.16%
ETFs €2 + 0.03%
Free ETFs 1 free trade/month
DEGIRO costs
Annual margin rates
USD margin rate 1.3%
GBP margin rate 1.3%
EUR margin rate 0.8%
DEGIRO costs
Stock index options commission of 10 contracts  
US stock index options $5.0
UK stock index options
German stock index options $10.8
Pricing for stock index options  
Market Commission
USA-CME, CBOT, CBOE, NYMEX, COMEX $0.50 / contract
Germany €0.75 / contract
Spain €1.50 / contract
The Netherlands, Belgium, France, Portugal €2.00 / contract
Norway, Finland, Sweden, Denmark €0.50 / contract
Other Countries €2.00 / contract
Option exercise / assignment €1.00 / contract
Pricing for stock index futures  
Futures Trading cost
NYSE Liffe – Amsterdam, Brussel, Lisbon, Paris €2.50 / contract
EUREX main indices – EURO STOXX 50, DAX €0.75 / contract
EUREX other stock indices €2.75 / contract
USA – CME, CBOT, NYMEX, COMEX $0.50 / contract
MEFF (Spain) €1.50 / contract
  €0.50 / contract
Non-trading fees  
Account cost No
Inactivity cost No
Deposit cost $0
Wichdrawal cost $0
DEGIRO costs
Bond commission pricing
Germany – Xetra/Frankfurt €5 + 0.05%
The Netherlands, Belgium, Potugal, France €2 + 0.06%
OTC Bonds (e.g Norwegian) €35 + 0.03%
DEGIRO costs
Mutual funds Commission Monthly custody cost
Euronext Fund Services €7.5 + 0.10% 0.017%
Non-Exchange Listed Investment Funds (STP) €7.5 + 0.10% 0.017%
Non-Exchange Listed Investment Funds (Non-STP) €75.00 + 0.10% 0.017
FundShare Cash Funds / Morgan Stanley Liquidity Funds Free Free
DEGIRO costs
Stock and ETF commission of a $2,000 trade
US stock €0.7
UK stock €2.6
German stock €5.8

Account opening

The account opening process is online and takes approximately 1 (one) business day.  

For registration you need to provide the following:

  • a copy of your passport or ID card
  • the bank account number from which you will fund the investment account

Following the registration process, three additional steps will apply to activate your account for trading.

Suitability Test

Terms and Conditions

Money transfer

Account Types

Basic

Active

Trader

Day Trader

A Basic profile is the default account type when you register. You can upgrade a Basic account to an Active, Trader, or Day Trader account, which allows you to access Debit Money (the ability to trade using margin from DEGIRO), Debit Securities (short selling), and Derivatives.

Deposit and withdrawal

Funds can easily be transferred directly from your registered bank account via a manual bank transfer. Unfortunately, the fast and convenient option of deposits via credit and or debit card is unavailable.

Trustly, iDEAL and Sofort might be available as instant deposit options on certain accounts, but this differs by country. In the UK, for instance, only bank transfer deposits are currently allowed.

Manual bank transfers can take up to 2-3 working days to appear in your Degiro account. The broker does not facilitate urgent transfers.

You can withdraw funds to your primary registered bank account via bank transfer only.  E-wallets are available for specific residents, such as German and Spanish clients.

Withdrawals take up to 2-4 days to complete. You cannot withdraw current investment funds and can only withdraw funds to accounts that are in your name.

Degiro charges no deposit and withdrawal fees.

Web trading platform

 

DEGIRO‘s web platform is simple and user-friendly, even for beginners. On the downside, you cannot set price notifications.

Web Trading Platform

The web platform is available in your local language and is ideal for executing trades, albeit slightly outdated.

Although well structured and easy to use, it lacks customization options. You can select between a one-step or a two-step login which is available through Google Authenticator. For security purposes, the two-step login is always recommended.

Order confirmations are only available via email and not through text message alerts. Moreover, no price alert functionality is available.

Portfolio and fee reports are well organized and transparent. Owned products and fees paid per transaction is easily accessible.

Mobile Trading Platform

The mobile trading app is available in the language of your account with a transparent and fairly intuitive structure.

The platform provides secure login with a two-step verification process through the web platform. The setup requires the Google Authenticator app on your mobile device, which will generate a temporary passcode with each login.

Access through Touch and Face ID on mobile devices that support these features can be optimized.  By entering the login screen of the app, you can select the pictograph in the bottom left corner. The setup requires your passcode.

The search functions on the mobile platform are seemingly good.

Desktop Trading Platform

DEGIRO does not provide a desktop trading platform.

Markets and products

Exchanges

Countries

Global Awards

Stocks and ETFs

The stock and ETF selection is less extensive than TradeStation Global’s or Interactive Brokers’.

Access to 30 stock exchanges and more than 5,000 ETFs is available.

Forex

Forex is unavailable.

Funds

The selection of fund providers is small compared to TradeStation Global. Among others, you can choose from mutual funds provided by big players such as BlackRock or Vanguard.

Bonds

The lineup of corporate and government bonds is acceptable but does not compare well with TradeStation Global or Interactive Brokers.

Futures

Futures market coverage is good, albeit still relatively narrow compared to TradeStation Global.

CFD's

CFD’s are unavailable.

Options

Trading on 12 market options is available which are considered a competitive selection.

Crypto's

You can invest in Bitcoin and Ethereum through ETN instruments traded on the Stockholm Stock Exchange. 

Research

Trading ideas

Currently, Degiro does not provide trading ideas.

For equities, you can access the amount of buy/sell/hold recommendations that the given stock has or had in the past in the ‘Analyst Views’ tab.

Fundamental data

Fundamental data for stocks are available. The key figures and ratios for a chosen stock will appear under the chart. Under the ‘Financials’ tab, it is possible to compare metrics reported on the relevant income statement, balance sheet, and cash-flow statement.

Charting

The charting tool is rather basic, but adequate enough for an execution-only trading platform. It is user-friendly and comes with over 10 technical indicators.

News feed

news panel is accessible with short news items on both the web and the mobile platforms. These are available on the main page of the trading platform, and also in the information sheet of products that have any news related to them.

Customer service

Phone and email support are available, but no live chat service.

Pleasingly enough, customer service is available in your language if you are from the 18 supported countries.

The overall quality of customer support is satisfactory, with quick response times for phone support and adequate feedback. Email support is slightly less satisfying as response times are approximately 2 (two) days.

Customer support is only available on weekdays between 7 am and 9 pm local time.

Education

You can learn in the following ways:

  • Platform tutorial videos
  • General educational videos
  • Blog

Education materials include an ‘Investor’s Academy’ consisting of 10 fundamental chapters to jumpstart any investor journey with texts and videos.

The ‘Products’ section introduces all the asset classes available while ‘Strategies’ and ‘Exchange Information’ teach basic charting and analysis techniques.

These materials are under the ‘Knowledge’ Tab on the website.

 

Some videos cover basic topics like asset classes and order terms, and others explain trading platforms, i.e., how you can buy stocks through Degiro. These topics fall under the ‘Investing with Degiro’ menu.

Further education includes a blog with quality articles about the markets every month.

Services such as a demo account or webinars are lacking since demo accounts are one of the best ways to test platform functionality.

  • Trading platform tutorial
  • Educational videos
  • No demo account
  • Available only in English and Dutch

Safety

As a German regulated bank, flatexDEGIRO Bank AG is primarily supervised by the German financial regulator, the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin).

Authorities of other countries where DEGIRO provides its services are also notified by Bafin and are aware of its operations. In the Netherlands, the Dutch Central Bank (DNB) is tasked with the integrity supervision of DEGIRO. DEGIRO is deemed authorized and regulated by the Financial Conduct Authority in the UK.

In addition, flatexDEGIRO Bank AG falls under the indirect supervision of the European Central Bank (ECB).

 

Opening an account entitles investor protection of up to €20,000 in securities and up to €100,000 for any uninvested cash in the Degiro Cash account.

Clients’ assets are segregated in separate entities and thus protected against bankruptcy. In the unlikely event that the segregated assets cannot be returned to clients, DEGIRO falls under the German Investor Compensation Scheme, which compensates any losses from non-returned assets up to 90% (with a maximum of €20,000).

Any money deposited in a DEGIRO Cash Account with flatexDEGIRO Bank AG will be guaranteed up to an amount of €100,000 under the German Deposit Guarantee Scheme. 

 

Bottom line

DEGIRO is a good choice for investors looking for a user-friendly platform and doesn’t want to spend too much on fees as transaction costs are generally low.

The account opening process is quick, and the trading platform is one of the best in Europe.

Educational and research tools are limited, no forex trading is available, and most clients can only deposit and withdraw via bank transfer.

Overall, Degiro is an excellent online broker. With no minimum deposit and no inactivity fee, feel free to give them a try.