Degiro Review

By | March 16, 2021

About Degiro Review : In this Degiro review we include everything from what is Degiro, supported payment methods, tradable market, customer service, tools provided and eligibility.

What is Degiro?

Degiro is the low cost broker available in the present space. It is a privately owned Dutch discount broker. Degiro was established in 2008 by former employees of another brokerage company. It is an online stock broker based in the Netherlands with over 600,000 registered traders.

Degiro provides an extensive range of assets. This includes everything from shares, ETFs, bonds, futures, and leverage products. 

You can use Degiro either on the web or on app as well. There is no minimum amount of investment, hence it is beneficial for those who want to invest in smaller amounts. Degiro is regulated by top tier Dutch financial authorities. 

Degiro review

Who is eligible to join Degiro?

Before going further with the Degiro review, it is important to mention who is eligible to join Degiro.

To be a part of Degiro, you have to be a resident of following jurisdiction: 

  • European Union (excluding Bulgaria, Croatia, Cyprus, Estonia, Latvia, Lithuania, Malta and Romania)
  • UK
  • Norway
  • Switzerland

In case if you’re not located in the UK, then you should have a bank account located in the EU, Norway or Switzerland too in your name. 

How to open an account?

Account opening in Degiro is fully digital. It takes 1 day to verify and proceed further with the account. Head toward account and fill details like name, address, date of birth, contact details, email address, tax information, snapshots of your bank account or personal identification.

 After the basic registration process there are few more things you need to do. They are:

  1. Complete an appropriateness test. 
  2. Agree to the conditions for real-time prices.
  3. Transfer money to your investment account

Degiro offers the following account types

  • Custody
  • Basic
  • Active
  • Trader
  • Day Trader
degiro profile

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Fees

Degiro charges low fees for all asset types, from stocks to options. Non trading fees are also low as there is no activity or withdrawal fees. 

  • Degiro offers low stock and ETF commissions on the market.

DEGIRO stock and ETF commission of a $2,000 trade

US Stock $0.7
UK Stock $2.6
German Stock $5.8
  • Here, stock, ETF and warrant fees are the same.

DEGIRO stock, ETF, and warrant commission pricing

Market CommissionMaximum
UK£1.75+0.014£5
USA€0.5+$0.004%/share
Germany-XETRA€4 + 0.05%€60
Germany – Frankfurt (Stocks) €7.5 + 0.09% 
Belgium, Denmark, Finland, France, Ireland, Italy, The Netherlands, Norway, Austria, Portugal, Spain, Sweden, Switzerland
€4 + 0.05%€60
Hungary, Greece, Czech Republic, Turkey€10 + 0.16%
ETFs€2 + 0.03% 
Free ETFs1 free trade/month
  • DEGIRO margin rates are low. The margin rates vary based on the base currency of your account.

DEGIRO annual margin rates

USD margin rate1.3%
GBP margin rate1.3%
EUR margin rate0.8%
  • It has generally low fund fees.

DEGIRO fund commission pricing

Mutual Funds Commission Monthly Custody
Fees
Euronext Fund Services€7.5 + 0.10%0.017%
Non-Exchange Listed Investment Funds (STP)€7.5 + 0.10%0.017%
Non-Exchange Listed Investment Funds (Non-STP)€7.5 + 0.10%0.017%
Fund Share Cash Funds / Morgan Stanley Liquidity FundsFreeFree
  • It has generally low bond fees.

DEGIRO bond commission pricing

Market Commission
Germany – Xetra / Frankfurt €5 + 0.05%
The Netherlands, Belgium, Portugal, France€2 + 0.06% 
OTC Bonds (e.g Norwegian)€35 + 0.03%
  • Degiro don’t charge account fee, inactivity fee, withdrawal fee, deposit fee or custody fee.
degiro homepage

Deposit and withdrawal

Degiro doesn’t charge anything on bank transfer, at the same time it won’t allow deposition of funds through debit/credit card. 

Here, you can choose from 9 base currencies. The available base currencies are CHF, DKK, GBP, NOK, SEK, EUR, CZK, PLN and HUF.

Again the reason here is being that, when you operate an account in any of the given base currencies you are not required to pay conversion fees.

Deposits via TransferWise, Revolut, Monese, Currencies Direct, Currency Cloud or PayPal are not allowed.

What assets does Degiro offer?

It has a good product portfolio. Degiro offers you a large variety of assets, as mentioned earlier it covers 50 markets and 30 countries. Hence, it is not possible to mention the name of stocks in the review. So, we just provide the name of assets it provides to trade in. Although, CFDs and forex is not available here.

Asset classes provided by Degiro :

  1. Stock
  2. ETF
  3. Fund
  4. Bond 
  5. Options 
  6. Futures
  7. Crypto
degiro review

Degiro Trading Platform

Degiro provides two types of platform – online or through mobile app. The website is easy to use and user friendly.  All you have to do is is to log in to your account and you’ll be redirected to the main trading dashboard. There you can search the assets you are looking for through the search bar.

Degiro’s mobile app offers the same user friendly interface. It is basic and straightforward to use. The mobile app is available in the language similar to those of your account. It provides you safe login by providing two-step authentication and touch and face ID support.


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Is Degiro Regulated?

It is regulated by the Netherlands Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB).  It also holds legal permit to offer investment services to its clients in all of the countries it operates. Degiro is overseen by authorities in the Netherlands and was established in 2008. 

Pros Cons
Regulated by multiple top-tier authoritiesForex not available
Easy to use web and mobile platform No credit/debit card deposit 
Low trading and non-trading feesHigher trading fees for Asian and smaller
European stock exchanges
No minimum depositNo price alerts
Trading platform tutorial No demo account

Customer Support

Degiro provides average customer support. You can reach them in many languages on the phone. On the other hand, it does not provide 24/7 service and live chat support. Or you can mail your queries on [email protected].

degiro customer service

Bottom line

Degiro is a good choice if you’re looking for a simple and easy to use trading platform. This allows you to access a wide variety of assets. Transaction costs are generally very low. Account opening process is fast. 

The only limitation is that it doesn’t provide forex trading and deposit and withdrawal can be done only through bank transfer.

All in all, it is a great online broker. There is no minimum deposit and no inactivity fee, so feel free to go ahead and give it a try.


FAQ’s

What rate do I get when using AutoFX?

When using AutoFX, the exchange rate you receive will be the spot rate + 0.10%.

Can I make a manual currency conversion?

Yes. To manually convert a lump sum of funds to a foreign currency, you can go to the Orders tab and then select Currency Transaction.

To do this, you must choose to Manually hold this currency prior to making the conversion. The cost for this service can be found on our Fee Schedule and Custody Fee Schedule.

When can I manually execute currency conversions?

DEGIRO offers clients the possibility to manually execute currency transactions bigger than €10,000 during the period from Sunday 22.00 till Friday 22.00 (UK time), which can be done via the WebTrader. For orders smaller than €10,000 we use different time periods. These can be done daily between 7am and 9 PM (UK time) from Monday through Friday.

How much does DEGIRO charge for the use of Debit money?

At DEGIRO you can obtain debit money at extremely low rates through the use of allocation. The costs for the allocated amounts can be found on our Fee Schedule and Custody Fee Schedule.

Non allocated debit funds are available at an annual rate of 4%. Interest costs are charged monthly.

Degiro Review

8.8

Account opening

8.5/10

Products offered

9.0/10

Service provided

9.0/10

User friendly

8.5/10

Pros

  • No minimum deposit
  • Easy to use platform
  • Quality education

Cons

  • Forex not available
  • No price alerts
  • No demo account

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