DEGIRO began its industry journey in 2013 in the Netherlands. Originally, it was a wholesale online broker, but it expanded across nearly twenty European countries as time went on. The broker allows its retail investors to benefit from zero-to-low commissions, and this competitive edge has allowed DEGIRO to become one of Europe’s largest brokers.
In 2020, DEGIRO joined with flatex, and, one year later, it merge with flatexDEGIRO Bank AG. This transformation turned DEGIRO into the largest execution-only, online broker on the continent. Plus, DEGIRO got its own banking license. The broker has won eighty-two awards. Some of the most recent include:
- “Best Discount Broker” (Broker Chooser 2022)
- “Best Broker for Stock Trading” (Broker Chooser 2022)
- “Best Stockbroker” (Rankia 2020)
- “Broker-Test.de Daytrade Broker 2020 (BrokerWahl)
- “German Fairness Award 2020” (NTV)
DEGIRO Pros & Cons
Pros
- Very Low Fees
- Top-Tier Regulation
- Easy-To-Use Platforms
- Award-Winning
- No Inactivity Fees
Cons
- Limited Country Range
- Forex Unavailable
- Limited Deposit/Withdrawal Options
Who Is DEGIRO Recommended For?
DEGIRO prides itself on having a user-friendly platform, and its website contains a large knowledge bank for traders who want to learn the basics (this feature is discussed in more detail in the sections below). Judging from these features, DEGIRO is suitable for both new and experienced traders.
Top DEGIRO Features
- Fee Transparency. DEGIRO prides itself on being transparent about its fees. There are no inactivity fees or trader fees charged for account holders, and you can access its list of fees on the Fee Schedule (https://www.degiro.co.uk/data/pdf/uk/UK_Feeschedule.pdf). If it’s not on this PDF, you won’t be charged it, according to the broker.
- Low Fees. Where there are fees, they are low. Though you can trade stocks and many ETFs with no fees, any commissions that DEGIRO charges are lower than other brokers in the market.
- Large User Base. People never want to be the first people to join something, and that is far from a worry with DEGIRO. This broker has a user count of two million people, which means it has a strong base of establishment in the industry. The broker is one of the leading companies in Europe.
- Award-Winning. As stated in the introductory paragraph to this broker, DEGIRO has won eighty-two awards for its service. That should comfort anyone who wants a broker with a great reputation in the industry.
- Proprietary Technology. Discussed further below, DEGIRO offers its own proprietary platform to traders, complete with a user-friendly interface and a lot of useful features.
DEGIRO Overview
- Type of Broker Non-Advisory/Executionary Broker
- Regulation & Licensing The Financial Conduct Authority (United Kingdom), Federal Financial Supervisory Authority (Germany), Financial Markets Authority (Netherlands)
- Clients Accepted from 18 Countries
- Assets Offered Indices, Shares/Stocks, Bonds, Futures/Forwards, Options, ETFs, Investment Funds, Structured products
- Platforms Available Web, Mobile
- Mobile Compatibility Android, iOS
- Payment Types Accepted Bank Wire Transfer, IDEAL, Trustly
DEGIRO Account Types
|
Basic |
Active |
|
|
Features |
First level of accounts |
Trade with up to 100% margin |
|
Account Currencies |
EUR and others |
EUR and others |
|
Available Leverage |
Varies, $0.50 Handling Fee |
Varies, $0.50 Handling Fee |
|
Minimum Deposit |
$0 |
$0 |
|
Commission Per Trade |
Commission on UK markets: 1.75 GBP +0.50 EUR external handling fee. US markets: 0 commission + 0.50 EUR external handling fee. |
Commission on UK markets: 1.75 GBP +0.50 EUR external handling fee. US markets: 0 commission + 0.50 EUR external handling fee. |
|
Decimal Pricing |
Up to 5 |
Up to 5 |
|
Trading Instruments |
Indices, Shares/Stocks, Bonds, Futures/Forwards, Options, ETFs, Investment Funds, Structured products |
Indices, Shares/Stocks, Bonds, Futures/Forwards, Options, ETFs, Investment Funds, Structured products |
|
Min. Lot Size Per Trade |
None |
None |
|
Max Value Per Trade |
300,000EUR (Unlimited If Buying/Selling a Single Share) |
300,000EUR (Unlimited If Buying/Selling a Single Share) |
|
Demo Account |
No |
No |
|
Swap/Rollover Free |
Unlisted |
Unlisted |
|
Copy Trading Support |
No |
No |
DEGIRO Compliance & Regulation
DEGIRO is regulated by the Financial Conduct Authority (United Kingdom), the Federal Financial Supervisory Authority (Germany), and the Financial Markets Authority (Netherlands).
DEGIRO Reliability & Security
The platform that a broker uses often determines its reliability. After all, a shoddy platform means that the trade process will be glitchy and useless. Luckily, that is definitively not the case for DEGIRO, which uses an excellent proprietary platform that is both feature-heavy and user-friendly.
With the platform, you can access streaming quotes, your portfolio, and market news, and you have extensive order capabilities. This desktop platform is easy to use, as it comes with a quick order widow that gives you the option to place your orders by desired order value or number of stocks.
You can invest globally, view the bid-ask spread up to ten levels on Euronext, and choose from a variety of different order types. The platform can also be individualized, as you can make your own favorites list and read curated news related to the assets in your portfolio. All of these benefits make for reliable, simple trading.
DEGIRO User Experience
One way to ascertain how users feel about a broker is to look at its online ratings. In the trading industry, star ratings are often used to determine how positively or negatively customers view a broker. As you can see from the list below, DEGIRO appears to have garnered positive reviews from its users, indicating a good user experience. Ratings include:
- StockBrokers.com: 4/5
- BrokerChooser.com: 4.8/5
- Upskillwise.com: 4.5/5
- Facebook: 3.5/5
- Benzinga: 4.5/5
- CoinNewsSpan: “90% Success”
- StockApps.com: 5/5
- Google Play: 4.3/5 App Rating
- Sortter.com: 4/5
Final Thoughts on DEGIRO
DEGIRO has won a lot of awards, and these awards speak for themselves. Their low fees and proprietary trading platform are two of this broker’s main highlights. Though there are a few limitations with regards to assets and deposit and withdrawal options, overall, this is a solid broker, if you’re in the accepted country range.
Contact Info
flatexDEGIRO Bank Dutch Branch Amstelplein 1 | 1096 HA Amsterdam | Netherland
DEGIRO FAQs
Q: Can you enable 2-step verification on your account?
A: Yes, DEGIRO allows Google two-step verification for those who want that added security feature. To enable, go to your account settings and follow the prompts. If you need to reset the authentication, contact the DEGIRO service desk.
Q: Where can I find fee information?
A: Go to the DEGIRO Fee Schedule (https://www.degiro.co.uk/data/pdf/uk/UK_Feeschedule.pdf) to find out what the fees are. This broker prides itself on its fee transparency, saying there is no “fine print.” DEGIRO charges no inactivity fees, nor are there any minimum trading amounts for account holders.
Q: What are the requirements to open an account?
A: You must be over the age of eighteen with a valid form of ID. You also need to have a tax and physical residence, as well as a bank account in your name, in one of DEGIRO’s accepted countries (of which there are eighteen). Accepted countries include Switzerland, the U.K., Sweden, Spain, Portugal, Poland, Norway, the Netherlands, Italy, Ireland, Hungary, Greece, Germany, France, Finland, Denmark, the Czech Republic, Belgium, and Austria.