Degiro Review 2020
Degiro is a multi-award winning, multi regulated online broker with very competitive fees and large range of products to trade on 50 exchanges, spanning across 30 different countries. They have a comprehensive range of trading tools and educational materials.
Degiro Review 2020, Pros & Cons
- Strict regulation
- Segregated client funds
- Investor Protection Scheme
- Low fees
- No US clients
- Limited funding options
In this detailed Degiro review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Degiro is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Degiro.
Degiro Review: Summary
Launched in 2013 from the Netherlands, Degiro is an online broker providing over 400,000 private investors from over 18 countries with low rates for trading products and markets worldwide on an investment platform suitable for all types of investors. They enable private investors to conveniently manage their business online through one intuitive and user-friendly trading platform.
The Degiro mission is to “provide added value by developing affordable, custom-made financial services for investors worldwide.” Their vision is “combining technology and financial knowledge, to create high-quality and cost-effective financial services for everyone.”
Degiro provides the trading tools and possibilities for clients to invest how and when they want with access to global exchanges provided anytime and anywhere from any device.
- Invest in global markets with very low rates.
- Comprehensive set of trading tools, capabilities, and service.
- Accessible anytime from anywhere.
- Secure trading environment.
- Multiple international awards.
They believe in transparency, encouraging users to understand the risks of trading and displaying fees within a fee schedule and offering a cost calculator that allows you to calculate costs upfront before you trade. They publish periodic reports in order to keep the market informed about the company’s progress. The latest figures and results are publicly displayed on the Degiro website.
Degiro has been recognised as one of the cheapest and best online brokers in Europe having won over 57 international awards, including being voted the Best Low-Cost Stockbroker 2017 & 2018 from the highly respected Financial Times and Investors Chronicle (UK).
Other notable awards include Best Mobile Share Dealing 2017 (Financial Times and Investors Chronicle UK), Best Stock Broker 2019 (Rankia Portugal), Best Broker 2018, 2017 & 2016 (Rankia Spain), Best Online Broker 2018, 2017 & 2015 (Golden Bull Awards Netherlands), Best Broker 2018 (Danish Shareholders Association Denmark) and many more.
Degiro have an online educational centre dedicated to helping traders improve their trading knowledge. They are also partnered with CME Group to provide investors with additional educational content to further improve their understanding of financial products and services.
Degiro are an innovative broker that implements the latest technologies to ensure that they remain at the forefront of the trading industry. In addition to competitive pricing and a large selection of markets, they have an in-house development team that produces innovative trading tools which are tailored to client needs.
Clients have access to global markets including Australia, Japan, Hong Kong, compared to some other brokers who only provide access to the European and US exchanges. This give traders the opportunity to create more diversity within their portfolio.
Degiro Review: Regulation
Degiro is a multi-regulated broker under behavioural supervision by the Netherlands Authority for the Financial Markets (AFM) and prudential supervision of the Dutch Central Bank (DNB). Degiro is also registered at the Financial Conduct Authority (FCA) in the UK under registration number 595455.
Degiro has been granted a license pursuant to article 2:96 of the Act on Financial Supervision in the Netherlands, to act as an investment firm. They have a registered office and statutory seat in Amsterdam in accordance with its articles of association. They are registered with the Chamber of Commerce and Industry in Amsterdam under number 34342820.
Degiro is committed to providing clients with a secure environment to trade. Data protection and safekeeping of client assets is of primary importance.
Degiro ensure that clients investments are safeguarded and held securely. They utilise a separate custodian entity to hold client assets in segregated accounts separate from the companies. This means that they cannot use your funds for any other purposes and in the unlikely event that something should go wrong, client funds cannot be used as recoverable assets to Degiro’s creditors.
Degiro are a member of the Dutch Investor Protection Scheme which protects private individuals and certain small businesses that have entrusted money or financial Instruments to an investment firm. This scheme protects individual clients up to €20,000.
Degiro Review: Countries
Whilst Degiro accept clients from most countries, there are some countries where the residency means that you would be unable to become a client, including the United States. Some Degiro broker features and products mentioned within this Degiro review may not be available to traders from specific countries due to legal restrictions.
Degiro Review: Trading Platforms
Degiro offer an in-house developed proprietary trading platform from where you can access your portfolio, stream real time quotes, market news and conduct an extensive range of order capabilities.
Degiro WebTrader Platform
The Degiro WebTrader platform is very user friendly with a comprehensive range of tools. It runs directly in most modern web browsers and does not require any additional downloads or software installation.
Degiro WebTrader Features:
The platform responds immediately so that you can enter orders quickly and easily using the QuickOrder button that is found at the top of every page.
Real-time Streaming Prices
The platform displays live real time streaming rates of all the major global markets and exchanges.
Bid/Ask Spread Order Book
The platform allows you to view the depth of the order book on Euronext up to 5 levels.
Orders Placed Amount
Orders can be placed conveniently and fast according to the number of stocks or total value of the order. This ensures that you know the exact amount of stocks that you can buy or sell.
In the platform you can easily create a list of your favourite products which you can easily refer to at any time.
Degiro Mobile Trading Application
The award winning Degiro mobile trading application is freely available for Android and iOS devices from the relevant app stores. It is suitable for both beginner and advanced traders with very good reviews and high scores from thousands of users.
The mobile app is useful for those who need to monitor their portfolio and trading options whilst on the go. It displays real-time quotes, stock market news, and maintains all the same order options that are available in the WebTrader platform.
Awards won by the Degiro mobile app include Best Mobile Share Dealing 2017 (Financial Times & Investors Chronicle) and Best Mobile Trading App 2018 (Investment Trends).
Degiro Review: Trading Tools
The vast range of trading tools provided by Degiro are conveniently implemented within the trading platform and can be used to assist with conducting market analysis, placing trades, managing positions, setting notifications and more.
Degiro Cost Calculator
Degiro do offer a free cost calculator to help prepare your positions. Trading costs can have a significant impact on returns so it is important to be aware of all the costs that you will incur when you invest.
Degiro Review: Education
Degiro have a trading academy that is dedicated to helping clients to learn more about investing, different markets, trading strategies, trading tools, risk management and more.
The trading lessons provided by Degiro cover financial products, order types, price determination, different strategies for different types of investor and much more. There is a good range of topics for all levels of traders.
Trading Tutorial Videos
Once you have progressed through the trading lessons and are ready to apply the knowledge gained, Degiro have a set of video tutorials that can help you learn how to use the Degiro trading platform.
Degiro Review: Trading Instruments
Degiro offer access to worldwide investing on more than 50 exchanges, spanning across 30 different countries. This includes Stocks, Shares, ETFs, Bonds, Warrants, Options, Futures, Leveraged Products, CFDs* & Investment Funds (not listed).
*CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66,4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Degiro Review: Trading Accounts & Fees
Degiro offer private investors the chance to trade at professional rates. On their website they have a useful comparison tool that enables you to see the savings that you could make compared to other online brokers. This currently shows that you can save over 80% on fees compared to other brokers.
Fees vary depending on the market and asset being traded as well as if you are a customer with a basic, active or trader account. A full up to date list of Degiro rates can be found in the on their website within the fee schedule.
Degiro charges a connectivity fee to provide access to a large number of exchanges. This fee is only charged if you use these exchanges. The connection fees you will pay are limited to 0.25% of your total account value (with a maximum charge of €2.50) per calendar year for each exchange with the exception of London Stock Exchange. The connectivity fee for US options is €5.00 per exchange per calendar month. These charges will be applied if you carry out a transaction or hold a position during the calendar year.
Due to European regulation (MIFID II), there are surcharges added to the fees of + 0.018% on securities (except US and Canadian markets) and + €0.15 on options and futures. Despite these additional charges, fees at Degiro remain significantly lower than those of many other brokers.
There are no inactivity fees nor is there a minimum trading limit imposed on account holders. There are also no annual maintenance, service, or custody charges.
CFDs can be traded with an Active or Trader account. If you trade CFDs on your account you will not be able to open positions in other products such as stocks, bonds, or ETFs. Likewise, if you hold positions in other products on your account, you will be unable to trade CFDs. If you wish to trade on CFDs as well as other products, you will need to open two separate Degiro accounts.
They do not provide demo-accounts due to fact that opening an account with them is very quick, with no minimum deposit requirement.
As broker fees can vary and change, there may be additional fees that are not listed in this Degiro review. It is imperative to ensure that you check and understand all of the latest information before you open a Degiro broker account for online trading.
Degiro Review: Customer Service
Degiro provide customer support via email and telephone. The service desk is available to take calls from Monday to Friday from 7:00am to 21:00pm GMT. They also have a frequently asked question (FAQ) archive that contains an array of the most commonly asked questions with detailed responses. This can give you immediate answers to some questions that you may have.
Degiro Review: Deposit & Withdrawal
Degiro have offer bank wire and Trustly for depositing and bank wire for withdrawing funds from your trading account. They charge no fees to withdraw or deposit funds via manual money transfer. After making a manual money transfer, funds will typically be available in your account after 2-4 working days.
Degiro strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your Degiro trading account.
Accounts can be opened in EUR, USD, GBP, CHF, SEK, NOK, DKK. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Degiro Review: Account Opening
Opening an account with Degiro can be completed entirely online, within 10 minutes. The registration process is quick and simple with no minimum deposit required.
There is a short form to complete after which you will need to verify your email address. Then you need to upload proof of identity such as a passport or drivers licenses and proof of address such as a utility bill no more than 3 months old.
Once your account has been verified by the internal accounts team, you will be able to fund it and commence trading.
If you have any questions during the signing up process, the customer support desk would be happy to assist you.
Degiro Review: Conclusion
Degiro is an established and multi-regulated online broker with very competitive fees and a wide range of assets for trading on an intuitive in-house trading platform. They have won multiple awards and continue to grow, serving private investors all over the globe. There is a good selection of educational materials, multiple trading tools built into the platform and a useful cost calculator tool freely available on the Degiro website.
Investing involves risks. You can lose (a part of) your deposit. Degiro advise you to only invest in financial products which match your knowledge and experience.