DEGIRO has become a prominent name in the online brokerage scene, particularly in Europe. Known for its low fees and user-friendly platform, it attracts both seasoned investors and newcomers alike. But is DEGIRO the right fit for you? This detailed review dives into its key features, fees, pros and cons, and compares it to other brokers, equipping you with the information you need to make an informed decision.
Summary Table
| Feature | Description |
| Company Overview | Dutch online broker, part of FlatexDEGIRO |
| Account Types | Basic, Active, Trader, Day Trader |
| Minimum Deposit | No minimum deposit required |
| Spreads | Competitive, variable |
| Trading Platforms | WebTrader, DEGIRO app |
| Asset Coverage | Stocks, ETFs, options, futures, bonds |
| Regulation | AFM (Netherlands), BaFin (Germany) |
| Fees and Commissions | Low, varies by asset and order type |
| Customer Support | Multilingual, chat, email, phone |
| Educational Resources | Limited |
Company Overview
DEGIRO is a Dutch online broker founded in 2013. In 2020, it merged with Flatex, creating FlatexDEGIRO, a financial services giant. DEGIRO is known for its commitment to low fees, transparency, and user accessibility.
Account Types and Features
DEGIRO offers four main account types: Basic, Active, Trader, and Day Trader. Each caters to different investor needs, offering features like margin trading, short selling, and advanced order types. Notably, there is no minimum deposit requirement for any account type.
Minimum deposit requirements
As mentioned, DEGIRO has no minimum deposit requirement, making it accessible to investors of all levels.
Leverage and Spreads
Leverage, allowing you to control larger positions with a smaller investment, is offered up to 20:1 depending on the asset. Spreads, the difference between the buy and sell prices, are competitive and variable.
How To Open An Account With DEGIRO?
Opening an account with DEGIRO is very easy and can be done online. The process involves filling out an application, verifying your identity, and funding your account.
How To Deposit Money In DEGIRO?
DEGIRO supports various deposit methods, including bank transfers, credit cards, and e-wallets. Fees may apply depending on the chosen method.
How To Withdraw From DEGIRO?
Withdrawals are typically processed within 1-2 business days, with potential fees based on the method.
Trading Platforms
DEGIRO provides two main trading platforms: WebTrader and the DEGIRO app. WebTrader is a browser-based platform offering comprehensive functionality and charting tools. The DEGIRO app, available for iOS and Android, is more streamlined and suitable for on-the-go trading.
Asset Coverage
DEGIRO offers a wide range of assets, including stocks, ETFs, options, futures, and bonds, across various international markets.
DEGIRO Regulation
DEGIRO is regulated by the AFM (Netherlands) and BaFin (Germany), providing assurances of security and compliance.
Fees and Commissions
DEGIRO prides itself on low fees, with various structures depending on the asset and order type. For example, US stock trading is commission-free. However, consider potential costs like currency conversion fees and inactivity fees.
Customer Support
DEGIRO offers customer support via email, live chat, and phone in multiple languages. While user reports vary, overall, customer support seems satisfactory.
Educational Resources
DEGIRO provides limited educational resources compared to some competitors. However, they offer basic tutorials and market news to guide new investors.
Pros and Cons
| Pros | Cons |
| Low fees | Limited advanced charting |
| Wide asset coverage | Basic educational resources |
| User-friendly platform | |
| Competitive spreads | |
| No minimum deposit |
Client Feedback and Reviews
DEGIRO generally receives positive reviews from users, praising its ease of use, low fees, and wide asset selection. However, some concerns surround limited research tools, occasional platform glitches, and regulatory issues.
Comparison Between DEGIRO and Other Brokers
To help you decide if DEGIRO is the right fit, let’s compare it to two popular alternatives:
| Compare | DEGIRO | Plus500 | eToro |
| Regulations | AFM (Netherlands), BaFin (Germany) | FCA | FCA UK, ASIC, CySEC |
| Trading Desk Types | ECN, No dealing desk, STP | Market Maker | Market Maker, No dealing desk, STP |
| Demo account | Yes | Yes | Yes |
| Number of Currency Pairs | 60 | 50 | 49 |
Overall
DEGIRO excels in user-friendliness, low fees, and wide asset coverage. If you’re a beginner or cost-conscious investor, it’s a strong contender. However, if you need advanced tools, fractional shares, or a broader asset selection, consider IB or Trading212, with the caveat of potentially higher fees or limitations.
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Conclusion
DEGIRO offers a compelling combination of low fees, user-friendliness, and access to various assets, making it a solid choice for many investors. However, it’s essential to weigh its strengths and limitations against your individual needs and risk tolerance. By comparing it to alternatives and remaining vigilant against scams, you can make an informed decision about choosing the right online broker for your financial journey.
