In the world of investment, finding the right broker can make a significant difference in the outcome of your trades. Your platform choice should offer user-friendly tools, low fees, and high-security measures to ensure your investment is safe. Located in the Netherlands, Degiro is an online brokerage firm claiming to have the industry’s lowest fees.
But is it worth your investment? In our review of Degiro, we look at their strengths and weaknesses.
Who is Degiro?
Degiro, founded in 2008, is a Dutch online brokerage firm operating under the German regulator Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). It is now available in over 18 European countries, offering clients access to a wide selection of financial instruments, including stocks, ETFs, bonds, futures, options, and more. With 600,000 clients, it operates on a low-cost business model, allowing investors to trade at a lower cost than many other stockbrokers.
Pros and Cons of Using Degiro
Pros:
- Account Opening Process – Easy to apply online with no minimum deposit required
- Low Fees – One of the most significant advantages of Degiro is its low-cost business model, making it an attractive option for investors looking to save money on trading fees.
- Wide Range of Financial Instruments – The Degiro platform offers a wide selection of financial instruments, such as stocks, ETFs, bonds, futures, and options.
- User-Friendly Platform – The platform is intuitive and easy to navigate, making it accessible to beginner and experienced traders.
- High-Security Measures – Degiro implements high-security measures, such as two-factor authentication, to ensure the safety of its clients’ investments.
- No Inactivity Fees – No need to worry if you only trade infrequently
Cons:
- Limited Research and Analysis Tools – Unlike some other brokers, Degiro offers limited research and analysis tools, making it challenging for investors to conduct an in-depth analysis of their investments.
- Limited Availability – Degiro is only available in certain European countries, limiting its accessibility for investors outside of these regions.
Degiro Stocks & Shares Platform |
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| Award winning low trading fee platform Features: Trade US shares from €1 Trade UK shares from £2.75 | Go to website » | |
| Degiro with over 2 million investors offer very low trading fees. Trading tools for beginners and experts. No need to deposit money to open an account. Investing involves risk of loss. | ||
Is Degiro Safe?
Degiro implements high-security measures to ensure the safety of its clients’ investments. In addition to the Dutch Central Bank (DNB), the Netherlands Authority regulates the company for the Financial Markets (AFM). It also offers two-factor authentication, which provides an additional layer of security to clients’ accounts.
Frequently Asked Questions:
Q: What is the minimum deposit to open an account with Degiro?
A: The minimum deposit to open an account with Degiro is €0.
Q: Does Degiro offer a demo account?
A: Unfortunately, Degiro does not offer a demo account.
Q: What are the fees associated with trading on Degiro?
A: Degiro offers some of the lowest fees in the market. The fees associated with trading financial instruments vary, however.
Q: What are the payment methods accepted by Degiro?
A: Degiro accepts bank transfer payments. Deposits with a bank card are not an available option.
Award-Winning
In 2023, Degiro received the Best Broker for Stock Trading 2023 award from BrokerChooser – “DEGIRO is our winner. One of the lowest fees on the market. Regulated by top-tier authorities. Easy-to-use web and mobile platform.” With a dedicated team to assist clients with trading queries, the company has also gained a reputation for high-quality customer support.
However, it’s important to note that Degiro’s low fees have some limitations. For example, the company charges additional transaction fees, such as currency conversions and dividends. Additionally, the lack of research and analysis tools may make it challenging for investors to conduct in-depth research on their investments.
Degiro is an excellent option for investors looking for low-cost trading and a user-friendly platform. However, you should carefully consider your investment priorities and needs before making this decision. If you require in-depth research and analysis tools or are based outside of the European countries where Degiro is unavailable, consider other brokerage options.
Degiro’s Trading Platform
Degiro’s trading platform is user-friendly and easy to navigate, making it accessible to traders of all experience levels, from “Beginner” to “Expert”. The platform is available on desktop, mobile, and tablet devices, allowing clients to trade on the go.
The platform includes various useful features, such as real-time market data, interactive charts, and an order book. It also offers clients access to a range of financial instruments, including stocks, ETFs, bonds, futures, options, and more.
However, one platform limitation is the lack of advanced research and analysis tools. While clients can view basic company information and financial data, no in-depth research reports or technical analysis tools are available.
Fees and Commissions
Degiro is known for its low fees, making it an attractive option for investors looking to minimize their trading costs. The company provides a Cost Calculator, so based on the product type you are investing in, the amount you are investing and the transactions per year, you can get an overview of what fees you would be charged.
Customer Support
Degiro offers high-quality customer support to its clients. The company has a dedicated support team available to assist clients with their trading queries by email or telephone. The support team is available during trading hours and aims to provide prompt and helpful responses to clients’ inquiries.
Conclusion
Overall, Degiro is a great option for investors looking to save money on trading fees. It offers access to a wide range of financial instruments and has a user-friendly platform. However, investors may have better options requiring in-depth research and analysis tools. If you’re a beginner or a trader on a budget, Degiro could be a great choice for you. But before making any investment decisions, we recommend doing your own research and consulting with a financial advisor.
In conclusion, we hope this review of Degiro has provided valuable insights into the company’s services and offerings. By weighing the pros and cons and conducting further research, you can make an informed decision on whether Degiro is the right choice for your investment needs. See our selection of low-cost share dealing platforms in 2023 to see how Degiro compares to other share dealing platform providers.