DEGIRO Review 2021

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DEGIRO Facts & Figures

Access global exchanges anytime, anywhere, and on any device. DEGIRO offer stock trading with low fees and a large range of markets. DEGIRO are not CFD brokers and do not offer CFDs

InstrumentsStocks, ETFs, bonds, futures, options
Demo AccountNo
Min. Deposit0 $/€/£
Payment MethodsSofort, Trustly, Wire Transfer
Min. TradeVaries by asset
Regulated ByFCA, BaFin
MetaTrader 4No
MetaTrader 5No
cTraderNo
STP AccountNo
ECN AccountNo
DMA AccountNo
Mobile AppsiOS, Android and Windows
Margin TradingNo
Auto TradingNo
Social TradingNo
Copy TradingNo
Trade SignalsNo
Islamic AccountNo
Account
Currencies
USD, EUR, GBP, SEK, NOK, DKK, CHF
Investing involves risk of loss

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.

Plus, from now until 1st September 2021, DEGIRO will refund transaction fees up to a maximum of 50 EUR for new clients. The offer is available to all those who activate an account between now and then, meaning that if you’ve previously signed up but not activated your live account, then you’re still eligible. See here for more details. 

Company Details

flatexDEGIRO Bank Dutch Branch, trading under the name DEGIRO, is the Dutch branch of flatexDEGIRO Bank AG.

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

The Bafin is the German equivalent of the Dutch Authority for the Financial Markets (AFM).

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

In the Netherlands, the Dutch Central Bank (DNB) is tasked with integrity supervision of DEGIRO and the organisation is subject to conduct supervision by BaFin.

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.

Trading Platform

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 commission-free stock trading
DEGIRO Platforms

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.

Assets/Markets

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:

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, particularly US based assets.

Spreads & Commission

DEGIRO offers commission-free trading on 5,000+ equities plus hundreds of ETFs. Fee-free stocks are available on major US exchanges: NASDAQ and NYSE. For ETFs, there are zero commissions on large European markets, including Spain, Italy, Portugal, France and the Nordics, in addition to shares on relevant Tier 1 exchanges, such as Euronext Paris, and Lisbon, NASDAQ Stockholm, Bolsa de Madrid, and Borsa Italia.

In 2021, the online broker also streamlined its pricing structure – introducing flat fees across popular products. For all other European exchanges and for Tradegate transactions, it’s €3.90 per trade while for Asian-Pacific exchanges, it’s €5, and for bonds, it’s €2. Futures and options contracts come with a €0.75 charge.

Note, DEGIRO charges a flat €0.50 on all trades to cover additional trading costs, including settlement and clearing expenses. Also, if your account currency differs from the currency of the asset you wish to buy, you will be charged a currency conversion fee at a rate of 0.25%.

DEGIRO is among the top European share dealing brokers for low fees. In most asset classes, it is one of the best-value platforms on the market.

Leverage

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.

Mobile Apps

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:

Payment Methods

DEGIRO allows users to deposit and withdraw funds via several methods, each of which is geared towards more inclusive trading.

Deposits

Deposits to the platform can be made via the following methods:

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.

Withdrawals

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.

Demo Account

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

flatexDEGIRO Bank Dutch Branch, trading under the name DEGIRO, is the Dutch branch of flatexDEGIRO Bank AG.

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

The Bafin is the German equivalent of the Dutch Authority for the Financial Markets (AFM).

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

In the Netherlands, the Dutch Central Bank (DNB) is tasked with integrity supervision of DEGIRO and DEGIRO is subject to conduct supervision by the AFM.

It is also licensed in all relevant operational markets. For example, DEGIRO is registered with the FCA (Financial Conduct Authority) in the UK.

Investor Compensation

DEGIRO clients’ assets are segregated in separate entities and thus protected against insolvency of DEGIRO.

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 EUR 20,000).

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

This additional protection is undoubtedly why so many users choose DEGIRO as their preferred trading platform.

Additional Features

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.

Account Types

DEGIRO offers the following account types:

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.

Benefits

Drawbacks

Trading Hours

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.

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 clients@degiro.co.uk.

Security

Clients’ assets are segregated in separate entities and thus protected against insolvency risk.

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 EUR 20,000).

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

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 Verdict

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.

Accepted Countries

DEGIRO only accepts traders from Czech Republic, Spain, Ireland, Norway, Poland, Sweden, Denmark, Greece, Italy, Portugal, Switzerland, Germany, France, Netherlands, Finland, United Kingdom.

Alternatives to DEGIRO

If you are looking for alternatives to DEGIRO we have compiled a list of the top 5 brokers that are similar to DEGIRO below. This list of brokers like DEGIRO is in order of similarity and only includes companies that accept traders from your location.

  1. Exinity – Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
  2. Pocket Option – Pocket Option is a global binary options broker with sleek proprietary trading platform and competitive range of assets.
  3. Gemini – Gemini is a leading crypto trading exchange with low fees and a long list of altcoins.
  4. Binance – Binance is one of the leading online crypto exchanges offering Bitcoin.
  5. Rockfort Markets – Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.
Access global exchanges anytime, anywhere, and on any device. DEGIRO offer stock trading with low fees and a large range of markets. DEGIRO are not CFD brokers and do not offer CFDs
Investing involves risk of loss

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