Degiro Review

By | June 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 review

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.

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. Top-tier Dutch financial authorities regulate Degiro. 

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Who is eligible to join Degiro?

Degiro eligibility

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

If you’re not located in the UK, 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 the account and fill in 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

degiro account types
  • Custody
  • Basic
  • Active
  • Trader
  • Day Trader

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Fees

Degiro fees

Degiro charges low fees for all asset types, from stocks to options. Nontrading fees are also low as there are 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.

Deposit and withdrawal

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

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

Again, 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?

Degiro assets

It has a good product portfolio. Degiro offers you many assets; as mentioned earlier, it covers 60 markets and 40 countries.

Hence, it is not possible to mention the name of stocks in the review. So, we provide the name of assets it offers to trade-in. Although, CFDs and forex are not available here.

Asset classes provided by Degiro :

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

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 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 a 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?

The Netherlands Authority regulates it for the Financial Markets (AFM) and the Dutch Central Bank (DNB). 

It also holds a legal permit to offer investment services to its clients in all countries it operates. Degiro is overseen by authorities in the Netherlands and was established in 2008. 

Pros/Cons

ProsCons
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 Service

degiro customer service

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 to [email protected].

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 you can make deposits and withdrawals only through bank transfers.

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, you can convert currency from one form to another manually. To do so, you can go to the Orders tab and then select Currency Transaction.

Degiro Review

8.8

Account opening

8.5/10

Products offered

9.0/10

Service provided

9.0/10

User friendly

8.5/10
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