Summary

DEGIRO is one of the notable online forex brokers; founded on June 3rd, 2013, in the Netherlands. Since then it has grown to host over 2 million clients on its platform. The broker has a transparent fee structure. It charges no deposit, withdrawal, or subscription fees and is committed to sparing users of countless unnecessary fees – even commission on some of DEGIRO’s trading instruments is waived.

The broker no longer offers its customers to trade in CFDs, but you can invest in shares. With Degiro, you have access to 1M+ financial products. As an account holder, you will be able to invest in stocks available on more than 45 exchanges in 30 countries. Moreover, you can also invest in ETFs in more than 15 exchanges and it also has a core selection of 190+ ETFs that you can trade with no commission costs.

When trading with this broker you can expect a state-of-the-art desktop and mobile trading app. DEGIRO’s mobile app was designed keeping users’ needs in mind, consequently, it provides them with an array of helpful features that make trading simpler. Furthermore, as if the FAQ section wasn’t extremely helpful already, the broker also grants customers the option to call or email customer support with their queries at any time of the day.

Online reviews on Trustpilot and some other review sites are largely positive which showcase its extreme popularity with customers.

Regulations

When you trade with regulated brokers, your mind is at peace because these firms are legitimate and trustworthy. Here are some important information on the broker’s offices and regulation, along with all relevant details:

DEGIRO Head Office: Amstelplein 1, floor #9, 1096 HA Amsterdam, Netherlands

FlatexDEGIRO Bank AG: This entity is authorized by the German Federal Financial Supervisory Authority (BaFin) in Germany.

FlatexDEGIRO Bank Dutch Branch: It is supervised by De Nederlandsche Bank (DNB) and The Dutch Authority for the Financial Markets (AFM) in the Netherlands.

Supported Countries

The company offers its services to only European investors and is thus not an international brokerage firm. However, not all European residents will be able to access its financial services. In other words, it only serves investors from 18 countries, including but not limited to the UK, Ireland, France, Netherlands, and Germany.

Their official website is available in the following languages: English, Czech, German, Danish, Spanish, Greek, Italian, Dutch, Polish, Hungarian, Croatian, Finnish, Portuguese, and Swedish.

Available Assets

Stocks

When trading on DEGIRO, you are granted access to buy & sell stocks from 50+ exchanges across 30 countries – essentially enabling trading in global and local stocks. The most notable of them are NASDAQ, NYSE, and Euronext Amsterdam.

ETFs

These funds, which are also referred to as trackers, can be bought and sold on a stock exchange. They follow the performance of everything ranging from commodities to bonds.

ETFs are the perfect asset to diversify your portfolio, DEGIRO customers are able to trade ETFs on 19 exchanges across the world. Additionally, its core selection of ETFs houses 190+ ETFs that can be traded with no extra commission costs.

According to a 2021 analysis by DEGIRO, most clients gravitated towards ETFs listed on Vanguard and iShares. Moreover, the top three most traded core selection ETFs were Vanguard FTSE All-World UCITS ETF USD Dis, Vanguard S&P 500 UCITS ETF USD, and iShares Core MSCI World UCITS ETF USD (Acc).

Bonds

Bonds are considered to be a comparatively safe investment for many traders, and they also offer regular income payments so many traders use them to diversify their portfolios. You can buy bonds with DEGIRO at a very low cost of only €2.00 when buying it from an exchange in one of the following countries: Belgium, France, Germany, Netherlands, and Portugal.

Futures

If you’re an experienced trader looking to buy futures with very low associated costs, DEGIRO is the right place to buy futures. With DEGIRO you have access to both US exchanges and European exchanges all with an average cost of €0.75 per contract. They have over 12+ exchanges listed on their platform, including NASDAQ OMX Nordic – Stockholm, COMEX, and NYMEX among many others.

Options

Just like futures, options are also a great investment opportunity for experienced investors only. This has to do with the substantial losses that can be incurred on these contracts due to their nature. However, if you’re a professional and are confident about investing in options, DEGIRO provides plenty of opportunities for you to buy options from over 12+ exchanges in the US and Europe.

Spreads

DEGIRO itself has no influence over the spread rate, and they are subject to fluctuations because of market changes.

Degiro offers shares and ETFs from the following exchanges:

Fees & Commission

Trading Fees

Implicit Transaction Costs (Spread)

Any spread costs do not arise from DEGIRO, however, because of regulatory pressure, there is a need to document any implicit transaction costs (i.e. bid-ask spread) in the Annual Costs and Charges Statement. These costs are nothing more than a difference between the price at which your order was executed and the middle price between the bid and ask prices at the time of order execution. These costs aren’t regarded as separate but are reflected in the purchase price of your shares. Again, the broker has no influence over such costs.

Commission

If you trade an ETF from the core selection list on DEGIRO, your commission fees will be waived. It strongly believes in allowing clients to diversify their portfolios with the least possible hurdles. In that regard, it has minimized associated costs to the max. However, do keep in mind that if the ETF selected does not meet all of the conditions of the broker’s fair use policy, you will have to pay a commission on that tradable asset.

Non-Trading Fees

The broker – to keep costs at a record-breaking low – does not charge any deposit or withdrawal fees. Moreover, you will not have to worry about any setup or download fees because creating an account with them is free.

As a basic account holder, if you’re considering upgrading to an Active or Trader account, DEGIRO’s lenient fee structure makes it possible for you to do it at no cost.

Exchange Connection Fee

Another fee you can expect to encounter is the Exchange Connection fee. The fee is levied upon those individuals who make use of an exchange, other than their home exchange. This exchange connection fee usually totals around 2.50 € (max 0.25% of your account value) per connected exchange per calendar year. DEGIRO runs a pay-per-use policy, which means you will only be charged if you use the particular service.

Currency Conversion Fee

Most brokerages charge this fee. DEGIRO will charge a currency conversion fee if you decide to trade in a currency other than your base currency; its AutoFX functionality automatically deducts 0.25% of the total sum converted.

Inactivity Fee

This online trading broker does not charge its users any inactivity fee whatsoever.

Trading Platforms

DEGIRO has an award-winning desktop and mobile trading platform infamous for its user-friendly design and customization tools, catering to both beginner and professional trader needs.

Desktop Trading Platform

The desktop trading platform has been designed keeping the needs of beginners and professionals alike in mind. The advanced interface and other features, such as compiling your desired array of assets in a “my favorite” list, make it a great place for traders to begin trading.

User-Friendly Interface

The desktop trading platform has a user-friendly interface that significantly simplifies the process of placing an order and managing your portfolio and all trading activity.

Quick Order Window

The broker’s quick order window is always within sight and allows users to place orders by either the number of stocks or desired order value. You will have placed an order that best matches your needs with a few simple clicks. Additionally, in that window you will also see a section dedicated to the asset’s price data such as its market opening and closing price.

Personalized Experience

To give its clients a more personalized experience when using its desktop platform, the DEGIRO team has updated the feature list to include a new my favorites list and the option to read news related to your portfolio only – all other irrelevant news articles are filtered out. To add an asset to your “my favorite” list, all you need to do is click on the star next to the asset. You can even make new lists and add it to them instead.

How to open a Live Account using Degiro’s Desktop Trading Platform?

• Enter the website’s URL in the address bar of your browser, and click on the yellow button which reads “open an account”.

• You will be redirected to this page which demands the user to enter a relevant email address, along with a new username and password that will henceforth be associated with the account. A set of password complexity rules have been outlined on the same page, to guide users in creating a strong password.

• You will then be sent a verification email and after thoroughly checking that the username entered is correct, you should click on the blue button at the bottom of the image to complete your registration.

• Then you should click on the blue “login” button to continue the registration. Please enter your username and password in the page that shows up after you click on that button.

• Once you’ve registered a username and password, the next step is to provide personal information and verify your identity. Enter your first name and last name as stated in your official documents.

• You will then be required to enter a phone number with which you can verify your identity. After a few seconds, you will receive a verification code via SMS which must be entered exactly as it’s written.

• To continue the registration process, you must download the mobile app which is available on both the App Store and Google Play.

• After you’ve downloaded the app and have logged in using your registered username and password, please select the country that issued your passport.
• Make sure you scan your real passport and not a photocopy of the pages.
• All your details will show up on the next page, and it is best you go through them thoroughly to ensure that all information displayed is accurate.
• You should then enter your place and country of birth.
• Follow that up with a selfie of your face and confirm your location.
• Next you will be asked a further set of personal questions. You will be asked whether you have dual nationality or not, and if you are a US citizen/ resident.
• After you’ve provided information about your occupation, the final step is to provide the sort code and account number of the bank you wish to connect with your DEGIRO account.

Mobile Trading App

DEGIRO’s mobile app is available for download on both Google Play and the App Store, and has received an incredibly high rating from users. There are many features that make this award-winning investment app beginner-friendly, including account safety features, combination orders functionality and top-notch search functions.

Account Safety Features

The mobile app allows users to set up two-factor authentication through the platform’s web version. To begin utilizing this feature, simply download the Google Authenticator app on your mobile phone.

Another remarkable security feature is the Touch or Face ID login. Please note that these features are only accessible on mobile phones that support them. Once set up, it will ensure that no other person apart from you has access to all your personal account and trading information.

Combination Orders

The broker has integrated this feature into its mobile trading app because these types of orders are fairly useful in saving time and ensuring efficiency. Combination orders are constructed of multiple individual positions, however, they are all executed as a stand-alone transaction. These positions may be of the same position type or different ones.

Top-Notch Search Functions

You can easily find the product you’ve been looking to trade when using the mobile application. All you have to do is enter the name of a product in the search bar, and countless other matching products grouped by the asset class will be visible on the screen. Moreover, it is also possible for you to filter your search based on the asset class you were looking for.

How to open a Live Account on DEGIRO’s Mobile Trading App?

• With the DEGIRO mobile app, it is possible for you to open an account completely online and with no minimum deposit.

• Start by selecting your residential country.

• Enter your email and create a new username and password in accordance with the guidelines listed in a separate section below.

• An email will be sent to the email address you had entered. To continue with the registration process, click on the activation link in that email.

• Enter your registered username and password into the designated section.

• Provide the details of your phone number to verify your identity. A verification code will be sent to the number via SMS, you can also choose to receive it via a phone call instead.

• Enter the verification code and click on “Continue”.

• Go through the Acceptance Investment Services Agreement and tick a box certifying that you’ve read everything stated above and accept it.

• A verification code will be sent to your registered phone number in order to fully accept the Acceptance Form Investment Services and End User License Agreement.

Account Types

There are four different types of accounts based on the level of risk you are willing to undertake as a trader: Basic, Active, Trader, and Day Trader. It seems as though, unlike other online trading brokers, DEGIRO does not give its customers the option to hone or practice their trading strategies before going live – the broker does not have any demo account that we know of. We will discuss about the details of the four account types below:

Basic Account

A basic account is the default profile for all account holders. This means that unless you upgrade, you will be operating your trading activity with a basic account. With a basic account, it is possible for you to trade stocks, ETFs along with leveraged products amongst many other things. However, other more advanced features are not available to you as a basic account holder, this includes but is not limited to buying on margin and short-selling.

Active Account

Although an active account is still limited in what it offers its clients when compared to other account types like Trader and Day Trader. However, it opens much more doors for you than a basic account would. It provides in addition to all the basic account services, Debit Money (the ability to trade using margin on DEGIRO), short selling, and derivatives services. It is worth bearing in mind that the use of Debit Money is limited. You can buy only with a maximum of 50% of your total margin – this conservative approach is taken to reduce portfolio risk as all the above features have the potential to exaggerate all losses made by clients.

Trader Account

Next up, we have a trader account. Under this profile, not only will you be granted access to all basic account services, but just like an active account holder, debit money, short-selling, and derivatives services too will become a reality for you. However, their similarities halt when it comes to the amount of margin that can be used to make a purchase. Instead of the earlier 50%, Trader Account holders can use up to 100% of their margin – exposing them to more portfolio risk than active account holders.

Day Trader Account

This is the final account offered by the broker and it is designed to be used by professionals and experienced traders only. The amount of portfolio risk that this type of profile carries is unsurpassable; inexperienced traders and beginners should be strongly advised. In addition to everything offered by all other profiles, with a day trader account, you can use up to 100% of your available margin with additional margin during trading hours to make a purchase.

Account Base Currency

DEGIRO has a plethora of base currencies for its clients to choose from, namely CHF, DKK, GBP, NOK, SEK, EUR, CZK, PLN, and HUF. When opening an account, the default will always be the base currency of your country. But not to worry, this can be changed manually but it should be noted that you can’t and will never be permitted to have more than one base currency. The only condition you must fulfill is that you have a bank account in the country of that currency. Furthermore, suppose you select a base currency other than the default. In that case, all operations will be held on the local DEGIRO website of that country – which may be in a different language altogether.

Payment Methods

Below we will discuss the different payment methods that can be utilized to transfer funds in and out of your account, along with other necessary information on these transactions.

Deposit Methods

First and foremost, it must be made clear that all deposits and withdrawals will only be carried out in the base currency of your account, all other currencies will need to be converted into your base currency before you can withdraw them.

The most common and widely available method of transferring funds into your DEGIRO account is via bank transfer. This can take up to two days. Additionally, other payment methods like Trustly, iDeal, and Sofort can also be used to make deposits, granted they are available in your respective country.

Lastly, there isn’t any minimum deposit amount either therefore you’re free to begin with whatever you’re comfortable with.

Withdrawal Methods

Withdrawals can take 2-4 working days to be processed. In agreement with its low-fee policy, the broker does not charge any deposit or withdrawal fees.

How to withdraw funds on DEGIRO?

Simply log in to your DEGIRO account, and click on “Withdraw funds” in the right upper-hand corner of the trading platform. As for the mobile trading app, this section can be found by clicking on the menu in the left upper corner and then choosing “Withdraw” on the app.

Education

The company is one of the few trading platforms that prioritizes educating its clients. On its main page, you will find the “KNOWLEDGE” section on the dashboard of the official site. Clicking on it unveils tons of other subsections laid out in a drop-down menu format. The subtopics cover trading strategies, products, and general trading information. Each topic is explored in a comprehensive manner, and the most impressive aspect is the “Investor’s Academy”.

The academy makes a suite of videos and written text (if you don’t consider yourself a visual learner) available to everyone, even non-registered users for free. The videos are informative and make use of illustrations and images to better explain the topic being discussed.

The broker also has a blog dedicated to delivering the most up-to-date news on market trends and offering valuable insight to its readers in the process.

Finally, the broker has shot a documentary that involves professors, journalists, and investors refuting some of the most common misconceptions about investing and trading. What’s even more impressive is that real investment stories substantiate their arguments. In the process, you can also expect to gain some basic insight that investors, in hindsight, should know.

Customer Support

If you still have doubts after going through the comprehensive educational articles, DEGIRO has a “Frequently Asked Questions” section which provides immediate answers to nearly all customer queries. The search tool functionality allows you to look up a keyword and if it matches anything in the database, those answers and results will be returned within a split-second.

You could always contact them via email if no or an inadequate answer was returned to your question.

Email address: clients@DEGIRO.co.uk

If you prefer calling, their Service Desk is open from 7 am to 9 pm UK time on weekdays.

Phone number: +31 20 261 3072

Placing Orders

You can also place an order via e-mail or phone; however, keep in mind that there could be a surcharge on placing these orders.

Email address: orders@DEGIRO.co.uk

Phone number: +31 20 261 3072

Note: The email address information above is only for UK clients, other email addresses may be used for clients residing in countries other than the UK.

Reviews

What Reddit Users Say About DEGIRO

Reddit users’ views were often clashing and they found themselves disagreeing a lot when it came to account security and the low-fees policies. Some users also found the customer support to be below par.

This particular user comments that the ETF selection makes trading with DEGIRO worthwhile but was unsure when it came to trading stocks on the platform.

On the other hand, agreeing with a previous comment about the broker’s horrible service, this Reddit user chose to talk about a specific incident wherein the lack of efficient customer support created a lot of problems for a French client.

What Quora Users Say About DEGIRO

Most Quora users hadn’t heard about the company, but despite this unfamiliarity, they strongly advised others to steer clear of it and go for other more popular brokers.

Unlike the others, this user seems to have first-hand experience with DEGIRO. He went on and on about how the lack of a proper office address made its operations a bit shady. Furthermore, he resented how it took days to get a reply back.

TrustPilot Users Reviews About DEGIRO

DEGIRO on TrustPilot seemed to have an overwhelmingly large number of positive reviews. Its UK platform had secured a high rating of 4.2/5.

A TrustPilot user gave DEGIRO five stars, and explained that they deserved such a rating because of the “excellent value” provided and the “very good” customer service. In the same review, he cited two problems that he felt should be addressed immediately.

ForexPeaceArmy Users Reviews About DEGIRO

ForexPeaceArmy had only one review of the broker. This review loved the fact that it had “good” customer support and all associated costs were “low.” She rated it a 5-star, showcasing that she was more than happy with her experience.

Is DEGIRO Safe?

All users worry about the safety of their deposits because it is difficult to assure them that a particular broker will never have to file for bankruptcy. Unfortunate unsolicited things happen all the time. The primary question on potential users’ minds, consequently, is DEGIRO trustworthy?   In short, yes it is!

In Germany, the flatexDEGIRO Bank AG is authorized by the German Federal Financial Supervisory Authority (BaFin) and in the Netherlands, flatexDEGIRO Bank Dutch Branch is regulated by De Nederlandsche Bank (DNB) and The Dutch Authority for the Financial Markets (AFM).

The flatexDEGIRO Bank AG is assigned to the Entschädigungseinrichtung deutscher Banken GmbH (EdB). This private institution is responsible for guaranteeing the deposits of account holders in Germany. The institution operates under EU directives and in accordance with domestic legislation. Furthermore, the Federal Association of German Banks owns this entity.

Under the compensation scheme, all deposits that fall under the balance sheet item, “Liabilities to customers”. These liabilities are inclusive of demand, time, and saving deposits along with registered saving bonds. Every depositor is entitled to a compensation of up to 100,000 €.

It must be noted that different types of securities like shares, bonds, funds, and certificates are not deposits. Instead, they are the property of the customer only. These securities are only held in custody for him by the bank and thus don’t face any risk of being lost in the unlikely event of bankruptcy or insolvency.

Other Products and Services

Affiliate Program

DEGIRO’s affiliate program welcomes all those that have an established audience, whether they work as a financial blogger, publisher, or even run their very own comparison website. Not only will you be compensated with an attractive commission for every person who joins DEGIRO via your link, but also becoming a partner grants you access to their state-of-the-art affiliate software. You can expect different types of advertisements, a personalized dashboard, and last but not least, real-time performance monitoring.

Funds are credited to your account within a month and the sign-up process is relatively easy as well. All you have to do is enter your first name, last name, email ID, and create a password for your account to sign up for the program. After this, you will be required to enter the domain’s exact URL(s) where you wish to promote DEGIRO to your audience.

It is worth bearing in mind that this option is only available for residents of a selected number of European countries.

Bottom Line

The online trading brokerage firm is regulated by the German Federal Financial Supervisory Authority (BaFin), De Nederlandsche Bank (DNB), and The Dutch Authority for the Financial Markets (AFM).

Moreover, only European clients can make use of DEGIRO’s products and services as it does not offer its services elsewhere. Investors from approximately 18 countries are free to place orders and use the local version of DEGIRO’s website which is available in many languages – making it accessible to a large user base. These users can engage in stock and ETF trading on either their desktop trading platform or mobile app.

Additionally, this broker claims to have the lowest fees in the industry – branding it as their main selling point. All commissions are on the house if you choose to trade an ETF from the core selection list. To add to this low-cost management system, it does not charge any deposit, withdrawal, inactivity, setup, subscription, account opening, and download fees.

DEGIRO users have the choice to choose whatever account they feel matches the level of risk they are willing to take. Each successive account increases a user’s exposure to risk.

What really takes the cake is the vast amount of educational resources and videos the broker has on its website. Blogs, documentaries, expert insights, market news, and much more can be accessed at absolutely no cost.