Review DEGIRO
DEGIRO, starting in 2013 in the Netherlands, quickly grew across 15 European countries and partnered with flatex in 2020. It’s regulated by top authorities like the AFM and the Dutch Central Bank. Known for low fees, DEGIRO offers global asset diversification and user-friendly web and mobile platforms. However, it doesn’t support Forex trading and has limited educational and research tools. Also, you can only deposit funds from a registered bank account, not from debit or credit cards.
Recommended to:
DEGIRO is a good pick for new investors and those aiming for long-term savings. It’s easy on the wallet, straightforward to use, and gives access to big international stock markets and a bunch of ETFs.
Pros
- Low fee structure
- Global available assets
- User-friendly web and mobile platform
Cons
- Limited educational and research tools
- Demo account is not provided
- No credit/debit card deposit
Review’s Keypoints
Country of regulation
Netherlands
Minimum deposit
€0
Time to open an account
1 day
Trading fees class
Low
Deposit with bank card
Not available
Number of base currencies supported
7
Products offered
Stocks
ETFs
Funds
Bonds
Options
Futures
Depositing with electronic wallet
Avalible
Demo account provided
Not available
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.
Pros
- Affordable fees for mutual funds
- No charges for account inactivity
- Low pricing for stocks and ETFs
Cons
- Charge for converting currencies 0.25%
DEGIRO Costs
- *** 1000 in EUR or USD for the Stocks transaction
- *** Price per contract for Options & Futures
Account
DEGIRO is available to residents of 15 countries, including major European ones like the UK and Germany. Their online account opening is efficient, typically taking just one business day.
DEGIRO offers various account types tailored to different trading needs, including Basic, Active, and Trader accounts. However, it generally lacks tax-free account options like ISAs. The main exceptions are ISK accounts available in Sweden and pension accounts offered in the Netherlands.
Basic
Basic
Active
Active
Trader
Trader
Day Trader
Day Trader
Allows client to access Debit Money (the ability to trade using margin from DEGIRO), Debit Securities (short selling), and Derivatives.
Click on the card to see details
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01Provide a identity documents
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02Register with bank account
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03Complete suitability test
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04Accept real-time price terms
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05Transfer account funds
Transfers
DEGIRO supports fund transfers via manual bank transfers, with no deposit or withdrawal fees. Credit or debit card deposits are not available. Withdrawals, processed only to your primary bank account, can take 2-4 days. E-wallet options are limited to specific countries (Germany, Spain)
At DEGIRO, your account’s base currency is generally set to your home country’s currency, and only one base currency is allowed per account.
You can open another DEGIRO account in a different currency if you have a bank account in that currency’s country.
Pros
- No cost for withdrawals via bank transfer
- No cost for deposit
Cons
- Credit/Debit card not available
- Limited to one base currency per account.
Trading Platforms
Web Trading Platform
The web platform of this service is user-friendly and available in multiple languages, though it's somewhat dated and lacks customization. It offers both one-step and more secure two-step logins via Google Authenticator. Order confirmations are sent via email, but there's no text message alert or price alert functionality. The platform provides clear portfolio and fee reports, making it easy to track owned products and transaction fees.
Mobile Trading Platform
The mobile trading app, matching your account's language, is straightforward and secure. It features two-step verification using Google Authenticator for enhanced security. Additionally, it supports Touch and Face ID for devices that have these capabilities, with setup accessible through the app's login screen. The app's search functionality is also notably efficient.
Desktop Trading Platform
Offering
Tools
Fundamental data
DEGIRO offers fundamental data for stocks, displaying key figures and ratios under the stock's chart. The 'Financials' tab allows for analysis of a company's income statement, balance sheet, and cash flow.
Charting Tools
DEGIRO offers effective charting tools with 13 technical indicators. While not the most advanced, they are adequate and user-friendly for an execution-only trading platform.
News Feed
DEGIRO's news feature on its trading platform is somewhat limited, offering updates only on the main page and within specific product details. Compared to other platforms, which pull from a broader array of news sources, DEGIRO's news coverage seems lacking and less comprehensive.
Regulation
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).
Bottom Line
DEGIRO is an affordable choice for trading across asset classes, offering low trading fees and a user-friendly design. With no inactivity or withdrawal fees, it suits both regular and occasional traders. The platform provides transparent cost information for each trade, helping users avoid surprises, and its intuitive interface is ideal for new investors, simplifying navigation and understanding of trading fees before committing. However, trading US options or futures incurs additional fees, as does currency conversion. Overall, DEGIRO’s blend of low costs and accessibility makes it a frequently recommended broker for those entering the equity markets.
- Investing involves risk