DEGIRO Broker Review: A Comprehensive Guide

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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While DEGIRO itself is a legitimate broker, be wary of potential scams claiming to be associated with it. If you encounter suspicious activity, contact Report Scammed Bitcoin immediately. 

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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.

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