Degiro ReviewCategory: Reviews | Author: Trading Brokers | Date: November 17, 2022
Degiro is a multi-award winning and regulated online brokerage firm where you can trade with very competitive fees on a large range of financial products. There is an excellent choice of instruments to trade on an impressive 50 exchanges that span across 30 different countries. I found them to have one of the best product ranges I have seen from any broker. I enjoyed how easy it is to use the platform and access to a comprehensive range of trading tools that are very helpful for analysing the markets. If you are a beginner than you will also be pleased with the free educational materials but they unfortunately do not offer a demo trading account. Nonetheless, the minimum deposit is ridiculously low at just $0.01 so anyone can practice trading online with minimal investment.
Pros & Cons
- Proprietary platforms for easy market access
- Great selection of financial products
- Very low trading fees
- Trading academy for beginners
- Won multiple awards over the years
- Excellent customer support
- Cannot accept clients from some countries
- Does not currently support cryptocurrencies
- Limited funding options
- No demo accounts
- No Islamic accounts
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 can be suitable for all types of investors. They enable private investors like yourself to conveniently manage your business online through one intuitive and user-friendly trading platform. You get all of the trading tools and possibilities you need so that you can invest how and when you want with access to global exchanges provided anytime and anywhere from any device.
I like how 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 your needs. They believe in transparency, encouraging you 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.
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.”
- 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.
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. This is top regulation, up there with the likes of City Index.
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.
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 which I think is an excellent way to verify the quality of a particular company.
Degiro is committed to providing clients with a secure environment to trade. Data protection and safekeeping of client assets is of primary importance. I personally wouldn’t have any issue in trusting them due to the fact they are regulated by whom I consider to be top-tier regulators and the implement security measures to protect my information. Just be cautious because the nature and extent of consumer protections may differ for firms depending on location.
Degiro ensure that you 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.
Some Degiro broker features and products mentioned within this Degiro review may not be available to traders from specific countries. For upmost clarity, only residents in the countries where Degiro are active can open an account with this broker. This excludes traders in the United States.
The broker provides you with trading via the powerful in-house developed proprietary Degiro platform from where you can access your portfolio, stream real time quotes, market news and conduct an extensive range of order capabilities. It is great that you can access everything from one place. I had no trouble browsing around the platform and doing my daily trading routine. Everything from browsing charts and placing orders is made is simple as possible. You don’t need to be an expert to trade the markets with Degiro.
Degiro WebTrader Platform
The Degiro WebTrader platform is very user friendly with a comprehensive range of tools so that you can analyse charts in great detail. It is fully customisable which means you can create a layout as simplified or complex as you need, depending on your trading style. The WebTrader runs directly in most modern web browsers and does not require any additional downloads or software installation. This is great as it means you can access it from any device and will always be running the latest version.
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. You can easily keep track of all the markets in one place.
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. This can save you time from having to manually search.
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 move. It has a modern and intuitive interface that displays real-time quotes, stock market news, and maintains all the same order options that are available in the WebTrader platform.
I am a big fan of trading apps as I find them to be the easiest way to check my account and status of my positions. It doesn’t matter if I am sat on the sofa or resting in bed, I can fire up the app on my mobile phone and see what is happening in the markets.
The vast range of trading tools provided by Degiro are conveniently implemented within the trading platform and can be used to assist you with conducting detailed market analysis, placing trades, managing positions, setting notifications and more. They are lacking in external tools but that is probably because they aren’t necessary when you consider what the platform can do by default. If you so want more external tools, you might want to consider another broker such as Saxo Bank who have plenty for you to choose from.
Degiro Cost Calculator
They 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. I always like to carefully plan my positions and the costs that they will involve.
I like that they have a trading academy that is dedicated to helping you improve your trading knowledge. You can learn more about investing, different markets, trading strategies, trading tools and risk management. This shows me that they want to encourage informed decision making and prioritise this over profits. They are also partnered with CME Group to provide you with additional educational content to further improve your understanding of financial products and services.
The trading lessons I found to be very helpful and informative. They cover everything 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 give you 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 & Investment Funds (not listed). You 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 gives you the opportunity to create more diversity within your portfolio. I certainly didn’t find a lack of instruments but they don’t have cryptocurrencies. If you want to trade cryptos then XTB may be worth a look.
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.
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. I found them to be very reasonable if you are not nit picking.
It is great that there are no inactivity fees charged nor is there a minimum trading limit imposed on account holders. There are also no annual maintenance, service, or custody charges. This really helps them to standout from many other brokers who I have been stung by with what I would consider unnecessary fees.
Unfortunately, they do not provide demo-accounts due to fact that opening an account with them is very quick, with no minimum deposit requirement. This is slightly disappointing as I feel demo accounts can be a good way to test a broker before making a commitment. Alternatively, you can more or less choose a broker from our ratings as most of them have free demo accounts.
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. If you have any questions during the signing up process, the customer support desk would be happy to assist you.
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.
You can contact 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. I would have preferred 24/7 support like Trading 212 but this wouldn’t be a deal breaker for me personally.
Degiro only offer bank wire and Trustly for depositing and bank wire for withdrawing funds from your trading account. I like that 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.
It is worth mentioning that the broker does not accept third-party payments. All funds deposited into your trading account must be under the same name as your trading account. This is pretty standard practice to comply with regulators.
Accounts can be opened in a great selection of currenices: 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.
I find the payment options very limited. I think they could improve by providing my digital wallet options and accepting cryptocurrencies. I don’t always want to wait around days for a bank transfer to clear. Sometimes there is market news that you might need to react quickly to. If you want more variety, easyMarkets may be worth a look.
|This Broker||AvaTrade||IG||IC Markets|
|Regulated||ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA||ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA||ASIC, CySEC, FSA, SCB|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Bonds|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API||MetaTrader 4, MetaTrader 5, cTrader|
|Funding||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets|
Overall, I think Degiro is a great choice of broker for many reasons. I like that they are regulated, have low fees and a wide range of assets for trading on an intuitive in-house trading platform. The quality of their service is evident by how long they have been operating and the fact that they have won multiple awards and continue to grow, serving private investors all over the globe.
If you are new to trading online then that is not a problem as there is a good selection of educational materials. They can support all of your trading strategies with multiple trading tools built into the platform and a useful cost calculator tool freely available on the website.
I did find a few areas in which they could improve. I would like to see some more standalone tools, additional payment options and cryptos. They also don’t have MetaTrader which is my platform of choice. Just keep in mind that if you learn how to use a proprietary platform, then it means you will have to start from scratch if you switch brokers down the line. There aren’t any demo accounts either.
That being said, if you are looking for a no-nonsense broker that does everything you would expect them to, Degiro is certainly worth consideration. They have been around a very long time and are considered by many to be amongst the best brokerage firms you can trade and invest with.
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