In 2013, DEGIRO broker entered the brokering business relatively recently. Since then, however, it has become one of the industry’s benchmarks, with over 2 million users and a presence in 18 European nations.
They assert that their platform is transparent and offers the highest commissions on the market. It is a Dutch-registered and -regulated broker supervised by public organizations, including the FCA (Financial Conduct Authority).
Nevertheless, you may still be wondering, what securities do they offer? Are their prices as low as they claim? Is their system user-friendly? Will it accommodate your profile as an investor? Will it be effective for you?
Take a look at this thorough DEGIRO review for answers to these issues and to see if this broker is suited for you.
What Type of Agent is DEGIRO?
DEGIRO is a trading platform for various forms of securities, including stocks, mutual funds, ETFs, options, warrants, bonds, and futures.
They offer minimal commissions, and you can invest in various products at meager costs.
Pros and Cons of DEGIRO
DEGIRO offers numerous benefits, but it may not be the best broker for everyone; therefore, let’s examine the Pros and Cons:
- Ease of use: It is evident that DEGIRO’s team has made substantial efforts to create a user-friendly solution. Even novices will be able to navigate DEGIRO’s platform. Note that this does not eliminate the risk.
- Open an account online: You can open an account entirely online in a matter of hours if you submit them all the documentation they request (such as identification and a copy of an invoice) and link your account instantaneously (for example, by initiating a bank transfer of €/£0,01 or more).
- Choice of assets and markets: With DEGIRO, you can invest in stocks, ETFs, mutual funds, options, bonds, and futures from various European and Asian nations, as well as the United States, Canada, and Australia.
- Well-designed: This trading platform is easy. It is simple to locate the desired product and traverse the many markets.
- Competitive fees: DEGIRO is one of the brokers with the most competitive prices. In certain instances, you can invest commission-free once per month in certain ETFs if you invest more than €/£1,000; limitations apply.
- Regulated: Because the Dutch Financial Supervisory Authority comprehensively regulates DEGIRO, you can be confident that it is not a financial hoax. Additionally, it is appropriately registered with the (British) Financial Conduct Authority.
However, there are some weaknesses you should be aware of:
- No Forex, CFD, or cryptocurrency investments: You will be prohibited from investing in currencies and cryptocurrencies. You may search for an instrument (such as an ETF) that invests in these instruments. Additionally, it is impossible to invest in CFDs.
Connection market fees: You will be charged €2.50 annually for any market other than your home in which you invest.
- Delayed pricing: The prices of assets displayed by DEGIRO’s broker are 15 minutes delayed. If you need live prices, you must pay an annual charge.
- DEGIRO does not provide fractional shares. Users seeking to invest extremely modest sums (e.g., 10 dollars/pounds/euros) may need to search elsewhere.
Who Should Utilize DEGIRO
DEGIRO is a versatile broker because it offers various instruments that may be traded on numerous exchanges. You can also trade with or without leverage, making it perfect for beginners and professionals seeking to trade across many markets with meager commissions.
If you intend to trade forex or cryptocurrencies using CFD, however, DEGIRO is not the broker for you. Check out Plus500 or eToro instead; availability is subject to regulation.
Account Types With DEGIRO
DEGIRO offers a variety of account kinds; let me explain what each account offers and assist you in selecting the most appropriate one. Custody, Basic, Active, Trader, and Day Trader accounts are available.
DEGIRO Commissions in Detail
As previously noted, DEGIRO has extremely cheap fees, usually a plus for investors. In addition, their commissions are transparent, and you may get more information on their website.
You will encounter numerous references to commissions in euros, even though you may be trading in a different currency, such as the British pound. In this instance, DEGIRO will charge you an exchange fee.
In addition, you can invest once a month for free in about 200 ETFs (minimum €/£1,000, terms and conditions apply). This can be a valuable alternative for those who view investing as a form of saving, such as by contributing monthly to an ETF offered by Vanguard or iShares.
What Apps Let you Paper Trade Options?
- The Interactive Brokers company.
- Trader Workstation (TWS)
- Thinkorswim by TD Ameritrade
- Olive Invest.