Degiro Review and Tutorial 2021
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|Investing involves risk of loss|
|Degiro Facts & Figures|
Access global exchanges anytime, anywhere, and on any device. Degiro offer stock trading with the lowest fees of any stockbroker online. Degiro are not CFD brokers and do not offer CFDs
|Instruments||Stocks, ETFs, bonds, futures, options|
|Min. Deposit||0 $/€/£|
|Pay Methods||Wire Transfer|
|Min. Trade||Varies by asset|
|Regulated By||FCA, AFM|
|Mobile Apps||iOS, Android and Windows|
DEGIRO is an online broker based in the Netherlands. They provide a share dealing service only – but at a very low cost. This review answers trader questions on things like dealing costs, minimum deposits, account types and the trading platform itself, read on to discover whether you should sign up with DEGIRO – in their own words, an “empowering, comprehensive service” today.
DEGIRO is regulated by the Dutch Central Bank and the Authority for Financial Markets.
Their mission statement explains their intention to provide a low cost, comprehensive share dealing service, via a simple, trustworthy platform, empowering their customers.
The service allows investors to access global exchanges at any time, in any place, from any device.
The brand was formed in 2008 and is aimed at the worldwide trading community.
DEGIRO provides its users with several trading platforms to choose from. Web users will find the DEGIRO site easy to navigate and make trades on.
It’s clear that a lot of effort has been put into the user experience. For additional safety, the site uses two-step authentication which means that your personal information and trading data will always be kept safe.
As a truly international day trading platform, DEGIRO is attuned to your local language.
For example, UK users will find the site loads in English, whereas German traders will load a German version of the site without having to adjust any settings.
DEGIRO’s web-based platform is perfect for executing trades, despite not being the most advanced trading site in the industry.
While it is easy to use, a lack of customisation options could potentially be improved upon.
However, the search functions are excellent, and will generally find the name of the product you’re looking for before you’ve even finished typing.
Products are categorised by asset class, and you can also view the stock market and currency each product is available in. There’s even an option to filter your search based on the type of asset you are currently interested in.
At DEGIRO, it’s possible to access many different markets and trade with hundreds of products. Contracts for difference (CFDs) and forex markets are unavailable – DEGIRO provide execution only share dealing.
The following asset classes and markets are supported by DEGIRO:
- Exchange-traded funds (trackers)
Overall, DEGIRO is great for access to stock exchanges and ETFs.
There are currently 32 stock exchanges listed, with more than 5000 ETFs to choose from – from the largest international markets to smaller European stock exchanges. However, the brand has a narrow selection of funds and bonds on offer.
Spreads & Commission
DEGIRO has non-trading and low trading fees. In most asset classes, it is one of the best-value platforms on the market.
Some ETFs can be traded once a month for free (conditions apply, details here), which is perfect for buy-and-hold investors but not so ideal for day traders.
Commissions on trades of £1,500 are as follows:
- UK stock: £0.46
- US stock: £1.92
- German stock: £4.29
These prices mark out DEGIRO as one of the world’s more competitive stockbroking platforms.
However, there is a slight downside in that an unusual fee category known as “Exchange Connectivity” exists.
Users are charged €2.50 per market, up to a maximum of 0.25% of their total account value per calendar year for each exchange – with the exception of the LSE (London Stock Exchange).
If your account currency differs from the currency of the asset you wish to buy, you will also be charged a currency conversion fee. This can be applied automatically, at a rate of 0.1% of the value of the transaction.
DEGIRO offer the use of lending money using the trader portfolio as collateral. The amount available will vary based on the composition of the portfolio.
DEGIRO’s dedicated mobile app is reasonably basic, although the beauty lies in its simplicity – it makes the app incredibly straightforward to use.
With an intuitive interface, users can expect to be trading in a matter of seconds, which is important for day traders and those who want to strike at an opportune moment.
Order management within the app functions in exactly the same way as it does on the desktop site. Users can decide to turn on push notifications and email confirmations, although DEGIRO currently does not offer price alerts.
Ultimately, the DEGIRO app has been designed for use on-the-move, allowing investors to make trade decisions wherever they are in the world.
It’s a comprehensive, user-friendly platform that everybody should find easy to navigate around. In addition to this, the app offers:
- The ability to rapidly open, close and modify positions
- Real-time updates
- Single click trades
- Hundreds of instruments to choose from
- Charting tools
DEGIRO allows users to deposit and withdraw funds via several methods, each of which is geared towards more inclusive trading.
Deposits to the platform can be made via the following methods:
- Bank transfer
- Trustly (Available in selected countries)
- Sofort (Available in selected countries)
The firm has relatively strict rules on bank transfer deposits. This means DEGIRO will only accept bank transfers in bank accounts linked to your name, from accepted countries only.
Trustly deposits typically take around 30 minutes to arrive. DEGIRO does not charge any commission or fees for depositing funds into your account.
There is no minimum deposit at DEGIRO.
DEGIRO does not charge any withdrawal fees. Like many online day trading platforms, withdrawals can only be made via bank transfer.
The firm ensures that all withdrawn amounts are sent via bank transfer within three business days, however, most transactions are processed within one business day.
As a security measure, users are not permitted to transfer to accounts that are not in their own name.
It is worth noting that DEGIRO may require additional information from you prior to authorising an initial withdrawal. If this information is not provided promptly, the withdrawal period could take longer than the standard three-day timeframe.
Unlike many of its competitors, DEGIRO does not currently offer a demo day trading account.
This could be a bone of contention for beginners because simulation accounts are incredibly useful when it comes to honing trading skills without having to risk any capital.
However, seasoned traders who have a good idea of what they are doing won’t particularly be dissuaded by the absence of a demo account, and with low minimum deposits newcomers can start trading penny stocks until they gain the confidence to begin risking larger amounts.
Deals & Promotions
Promotions and offers at DEGIRO are communicated directly with account holders, or via their website.
Regulation & Licensing
As a Dutch-based company, DEGIRO is regulated by the Dutch Central Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM).
It is also regulated in all relevant operational markets. For example, DEGIRO is registered with the FCA (Financial Conduct Authority) in the UK.
Each user is provided with investor protection of up to €20,000, regardless of their country of residence. If the company were ever to default, your assets would remain safe.
This additional protection is undoubtedly why so many users choose DEGIRO as their preferred trading platform.
DEGIRO’s app and desktop versions are unified, which allows for seamless transition between the two.
This is particularly useful for those who trade from a desktop device who also want to keep an eye on the latest market movements while on the go.
It also ensures that all features available in the web version of DEGIRO are accessible via the app. This ultimately means that all aspects of asset management can be handled in a platform-agnostic manner.
One of the more useful features on DEGIRO is the “stocks to watch” section of the site. This provides information on various companies which have recently made the headlines or are currently receiving larger than average trading volumes.
The purpose of this feature is to give you an insight on stocks you might find relevant or interesting. Better still, it’s possible to order stocks directly from the “stocks to watch” page by simply clicking on the ‘B’ symbol next to each mentioned asset.
To conserve energy and to make browsing easier during night-time, DEGIRO are working to deliver a dark mode, though this is not available to all traders yet.
Users can switch seamlessly between day mode and dark mode, which can be particularly useful for users who are trading on-the-move from a device with low battery life.
DEGIRO also offers tailor-made information dependent on your previous trading choices. This helps to highlight assets or stocks you may be interested in while cutting down on clutter within the platform dashboard, leaving more room for information which is relevant to you.
DEGIRO offers the following account types:
- Custody account: This entry-level account allows users to trade shares, investment funds, bonds and trackers (ETFs). Custody accounts are open to traders and day traders and come complete with free real-time prices on the latest Euronext exchanges.
- Basic account: In addition to all the features available with a custody account, a basic account also entitles users to trade on leveraged products and warrants. Like a custody account, basic users are unable to short stocks or buy on margin.
- Active account: Active accounts combine all the features of custody and basic accounts, with the additional option of being able to buy on up to 50% of your available margin and the ability to go short.
- Trader account: In addition to all previously mentioned features, trader accounts allow users to buy on up to 100% of their available margin. Trader account holders also get access to free dividend and coupon processing.
- Day trader account: This account allows users to trade derivatives and buy on up to 100% of their available margin – with additional margins available during open trading hours.
This comprehensive range of accounts means that the needs of most traders are covered. All accounts come with their own individual benefits, many of which can be tailored to suit individual trading requirements.
- Incredibly easy to open an account
- Low commission and other fees
- Reliable customer service
- Comprehensive range of markets and products
- Intuitive mobile phone app
- Low minimum deposit
- No inactivity fees
- No account fees
- Free withdrawals
- Several base currencies to choose from
- Secure login (two-step authentication)
- Clear fee reports
- Impressive search functionality
- Educational videos
- Trading platform tutorials
- FaceID Security Upgrade
- Education section could be more comprehensive
- No forex trading
- No debit/credit card deposits/withdrawals
- Bank transfer withdrawals only
- High trading fees for smaller European stock exchanges
- No price alerts
- Limited workspace customisation
Users can trade on DEGIRO 24 hours a day, 7 days a week. However, it’s important to understand that not all markets are open 24 hours a day!
This means that your trading is limited to the hours when the markets you want to trade in are open.
For example, the London Stock Exchange is open 24 hours, whereas the NASDAQ is open for normal hours trading between 2 pm and 9 pm GMT.
Contact Details/Customer Support
DEGIRO’s UK opening hours are between 7 am to 9 pm on weekdays. Users should be aware that if they wish to trade over the phone, they will receive a surcharge for trades/seeking advice. Customer service for technical issues/software problems is free.
The DEGIRO European customer service number is +44 20 3695 7834.
The company can be emailed at email@example.com.
Safety & Security
- The DEGIRO site uses state of the art encryption to ensure data is kept private and secure.
- Two-step authentication is used to further bolster security.
- Investor protection means that client funds are covered for up to €20,000.
- Client funds are kept segregated.
With plenty of IT security measures in place, it’s fair to say that DEGIRO is one of the world’s most secure trading platforms.
DEGIRO regularly updates its app to ensure it is secure and functions well for users on all operating systems.
Ultimately, from a safety and security perspective it is difficult to find fault with how DEGIRO operates.
DEGIRO is the perfect choice for traders who want a simple platform without having to spend an awful lot on fees. It is a lot cheaper than some of its bigger European competitors, with few coming close to even competing with DEGIRO’s current fee listings.
The lack of markets and investment types, does mean however, it is better suited to ‘buy and hold’ investors, rather than active day traders.
Opening an account is incredibly rapid, which means new traders can typically have an account ready to use within a single day.
With a dedicated, integrated website and mobile app, DEGIRO is ideal for traders who might want to make multiple trades on-the-move.
This approach can be particularly beneficial to day traders, as the fast-paced nature of day trading means that users need to have their finger on the pulse of all the latest financial goings-on during the course of the day.
The “refer a friend” scheme can also be useful for those who want to save money on transaction fees.
Elsewhere, there are other interesting features which can help traders keep up to date with current financial news. The “stocks to watch” section helps day traders to choose relevant assets and products to purchase.
However, despite the low prices and intuitive user interface, DEGIRO is not without its shortfalls. While some onsite educational tools exist (such as trading tutorials and videos), there isn’t quite enough to help educate new traders.
The absence of forex trading is likely to put some users off, and the fact that money can only be withdrawn via bank transfer might be enough to dissuade some day traders from using the platform altogether.
The lack of price updates via push notifications is also something that DEGIRO might consider working on in the future if they want to further improve their platform.
Overall, DEGIRO is a good online broker – particularly when you consider the fact that it is possible to trade with no inactivity fees or minimum deposits.
This is reason enough to give DEGIRO a try, particularly if you’re an intermediate or experienced day trader who does not require much in the way of tutorials.
Degiro only accepts traders from Czech Republic, Spain, Ireland, Norway, Poland, Sweden, Denmark, Greece, Italy, Hungary, Portugal, Switzerland, Germany, France, Netherlands, Austria, Finland, United Kingdom.
|Access global exchanges anytime, anywhere, and on any device. Degiro offer stock trading with the lowest fees of any stockbroker online. Degiro are not CFD brokers and do not offer CFDs
Investing involves risk of loss
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