DeGiro: Review, Analysis and Complete Guide
When thinking about investing in a broker, there is no doubt that one of the best options is DeGiro. Although it is a relatively new broker, it has positioned itself in the top 5 of the best brokers in Europe due to its incredible rates for investing in financial products.
DeGiro’s legal headquarters are located in Amsterdam, the capital of the Netherlands. This detail is not minor, as it makes it under the supervision of the Netherlands Financial Markets Authority. It is also a broker regulated by the Dutch Central Bank.
Since its inception in 2008, and its expansion into the retail sectors through the trading and forex platform, DeGiro has won a number of awards. The main reason is the use of state-of-the-art technology and the possibility of trading in the most important countries in Europe.
If you want to trade safely, with low commissions and in the most important markets in the world, DeGiro is a broker to be reckoned with. Below you can access its pros and cons, mode of use and main features in order to form a solid opinion.
Pros and cons of DeGiro
- Transparent and totally secure broker.
- Activity in the most important countries in Europe.
- Promotions for buying and selling without commissions.
- Trading platform with state-of-the-art technology.
- Real-time quotes on standard accounts.
- Lacks the option to invest in Forex.
- Impossible to invest directly in bitcoins.
DeGiro Financial Products
Stocks and financial products
- Bonds: DeGiro allows you to invest in bonds in a wide variety of European countries. If you decide to invest in bonds in France, Portugal, Belgium or the Netherlands, the fee is 2.00 Euro plus 0.06% commission.
You can also invest in bonds in Germany, for a fee of 5.00 Euro plus 0.05% commission. If you prefer to invest in OTC bonds instead, the fee will be EUR 35.00 plus 0.03%.
- Options: for those who wish to invest in ‘options’, at DeGiro you will find a very friendly platform. It is possible to invest in both European and North American stocks. The broker’s platform has a console to control the operations in real time.
- Forex: one of the disadvantages of DeGiro is that it does not allow trading with Forex. For those retailers looking to invest in currencies, DeGiro is not the right broker, although it presents different options that are unbeatable due to its low rates.
- Stocks: in DeGiro you will find more than 30 indexes and thousands of stocks worldwide. It is a broker that offers the possibility of investing in more than 30 stock market indexes in Oceania, North America, Europe and Asia.
- ETFs: Through DeGiro, you can invest in more than 5300 ETFs. The main ones include Lyxor, Amundi, iShares, Vanguard and BlackRock. In turn, through DeGiro you can invest in approximately 200 ETFs without any commission.
DeGiro is a broker that stands out in so many ways from other brokers. However, a peculiarity of DeGiro is that it does not allow trading with cryptomonkets. That is to say, you cannot trade Bitcoins, Ethereum, and any other cryptos directly.
However, for those looking to invest in crypto currencies such as Bitcoins, DeGiro is only possible through ETFs. As a broker who trades numerous ETFs, the possibility of finding a fund to invest in Bitcoins is higher than in other brokers.
DeGiro’s online platform allows you to invest through five types of accounts. It is important to note that all the broker’s accounts have the same online version program, without the need to download. Depending on the experience and objectives to be met by the user, you can choose between:
- Basic Account: for those users who wish to invest in the long term and without the use of leverage.
- Active Account: this account is designed for those who choose to invest in the short term. It allows the use of moderate leverage.
- Trader Account: the leverage on this account is one of the highest. It is optimal for users who prefer to invest through scalping.
- Day Trader Account: to use this account responsibly you need to have extensive knowledge of how to trade. Those who are determined to short trade with a high degree of risk, this is their account par excellence.
It allows for the highest leverage of all DeGiro accounts and is the only one that allows for 100% margin availability when trading.
- Custody account: this is more of a deposit fund. While rates are low in line with DeGiro policy, maintenance and withdrawal fees are higher than with previous accounts.
How to Open a DeGiro Account
To start investing in trading through DeGiro broker, simply follow the steps below. Users agree that this is a broker that stands out from the rest not only because of its low rates, but also because of its simplicity of use.
The first step you need to take to start trading with DeGiro, is to select whether you will open an account as a private individual or as a company. Once you have made your choice, you will need to provide your personal details: first and last name, telephone number and email address.
You will then have to choose a username with its respective password. For DeGiro to accept it, it must have at least eight characters, a number, and a capital letter.
Then, it is necessary to continue completing the registration form with the following data: country of origin, nationality, identity card number and date of birth. In turn, you must set an address with its respective zip code, city and country.
Requirements and Verification
Once you have completed all your data correctly, the verification process according to user feedback is really simple. In the DeGiro screen you will see the data you have previously provided in order to corroborate them.
If all your details appear correctly, a transfer is required to complete the verification process. In this way, DeGiro concludes the verification by confirming it through your bank.
To make the transfer to the DeGiro broker, you can choose between the Sofort mechanism, your bank account, or through a manual transfer. With Sofort the verification process is faster, but it has a transfer limit of 250 euros.
Once the transfer has been made to the DeGiro account, you will be sent an email from the broker. From now on, you just have to click on the link “Complete your registration”. Finally, the last step is to accept the terms and conditions of the contract.
As far as the requirements for opening an account are concerned, the minimum deposit is It is also essential to have a bank account in the European Union, Norway or Switzerland. On the other hand, the services of this broker are denied to US citizens or tax residents.
Unlike other brokers, DeGiro does not offer a demo account to experiment with its platform. However, there is a reasonable explanation for this. To open a DeGiro account, you simply need to make a deposit of 0.01 Euro.
In other words, starting to invest in this broker is practically free. The opinions of DeGiro clients agree that it is possible to start experimenting on the site through a real account, with the benefit of not having to risk money.
In order to invest in DeGiro trading it is necessary to have a bank account in the countries of the European Union, Norway and Switzerland. Within the European Union, the following countries are not accepted by DeGiro: Lithuania, Latvia, Bulgaria, Cyprus, Romania, Malta, Croatia and Estonia.
Therefore, all accounts from the Americas, Asia, Africa and Oceania will not be accepted by DeGiro. However, taking into account that only clients with European accounts can invest, this broker has 400,000 individual investors.
How to Use DeGiro
DeGiro’s great success consists in the opening of its services to private clients. Thus, from 2013, DeGiro concentrated its resources on offering a quality service to minority users.
The opinions of DeGiro’s clients agree that the broker’s platform is absolutely effective and useful for investing in trading. It is a simple application technology, perhaps without many graphics, but simple to understand and use.
As far as the platform for online trading from the computer is concerned, it is not necessary to download any program or application. The company itself created a platform from which you can trade directly from the web.
DeGiro provides users with a platform that is simple to use, yet powerful. Broker client reviews often celebrate this useful and effective combination when investing in the wide variety of markets offered by DeGiro.
Although you do not have MetaTrader or any of the traditional trading platforms, DeGiro’s interface allows you to make trades more quickly. However, since it does not have many statistical charts, it is not recommended to trade without prior studies.
From the main menu it is possible to see four different blocks at the top of the screen. The first section refers to the ‘Markets’. This tab indicates the day’s variations of indexes and stocks that can be traded from DeGiro.
In the ‘Status’ tab it is possible to find the status of the folder, account, transactions, reports, and products that have been selected as favorites. In this way, it is very simple to keep track of the operations being carried out.
In the ‘Orders’ section you will find all the options for execution by the user. On the one hand, it is in this section where the user decides how, when and where to invest. It also allows the option of placing combined orders and making deposits and withdrawals from the account.
Finally, the fourth tab is ‘Prices’. This section is where you can see the products that DeGiro makes available for investment and trading, with their respective quotations.
The DeGiro broker application is available for both iOS and Android operating systems. In this sense, it is possible to trade and operate in the broker from any smartphone or tablet. The only requirement is to have access to the Internet.
According to the opinions of DeGiro trading app users, it is one of the simplest and most efficient platforms. With fast navigation and easy to understand design, with the mobile application you can perform all the operations available to the broker in real time.
Research and Visualization Tools
The opinions of DeGiro’s clients agree that the broker’s platform is easy to use and equally powerful. However, the analysis tools and charts seem a little outdated and reluctant to be customized.
However, DeGiro allows you to add about twenty technical indicators, such as standard deviation. It is also possible to acquire the chart with different indexes, called Ibex 35. Please note that there is no possibility to store them.
In addition, among the visualization tools offered by DeGiro there is a news feed. In it you will find all the daily news that can affect your investments.
On the other hand, DeGiro offers its clients a series of video tutorials on how to use the platform and invest in trading. Although there are not many videos, they are very well done and are very concise when giving information to those who are just starting out.
Deposits, Withdrawals, Fees and Dealing Limits
Deposit Methods and Minimum Deposit
To deposit money in DeGiro there are two options available. Both with one option and with the second, the minimum deposit to open an account is 0.01
The first is through the Sofort or Trustly payment systems. This way you can make an immediate transfer from your bank account to the trading broker. This transfer costs 1 ?.
The second option is to transfer by bank account. It is a prerequisite that a counterpart account be established first. In this way, it is possible to make the transfer according to the data provided by DeGiro.
One of the great advantages of DeGiro as a broker for trading is that it does not charge commissions for withdrawals. However, the only method of extracting the dividends is by bank transfer, which can take a maximum of three working days.
Fees and Commissions
The name DeGiro is immediately associated with low rates and virtually no commissions. This is an aspect in which all the opinions of the clients who trade and operate with stocks and bonds in this broker agree.
Unlike other brokers, when you trade with DeGiro you will not have to pay the additional brokerage fee, as it is included with the brokerage service. In addition, DeGiro does not charge commissions for deposits, withdrawals or inactivity, which is a great advantage.
The commission that does or must be paid is for operating in markets in countries outside your own, of 2.5 euros per year. In turn, there is also a commission for operating with other currencies of 0.1%. In the case of applying for financing, the broker also charges a fee from 1.25% to 4% per month.
DeGiro is a broker recommended by all experts for retail traders. However, it has no limits on income or withdrawal of funds.
However, it is important to note that this is a broker that is associated with the customer’s bank account. For this reason, it is necessary to be aware of the limits imposed by the bank to which the account belongs.
On the other hand, the DeGiro platform does not allow two orders to be executed on the same value. That is to say, it is not possible to combine the “Stop Loss” option with “Take Profit”. Therefore, traders who do not yet know how to manually set limits should pay special attention.
Is DeGiro Safe?
DeGiro is a broker duly regulated and supervised by the competent authorities. Since its inception in 2008 the company is subject to the Dutch Central Bank, and hence, to the regulation of the Netherlands’ Financial Markets Authority.
Thus, DeGiro is allowed to act as an investment firm, in accordance with the Dutch Financial Supervision Act. The registration number at the Amsterdam Chamber of Commerce and Industry is 34342820.
Being part of the Dutch financial system, DeGiro has a compensation scheme of up to 20,000 euros. This is because, in case of bankruptcy, the broker is covered by the Dutch Investor Protection Scheme.
In addition, as DeGiro has created a foundation called Stichting whose sole objective is to safeguard the investments made within the broker. In other words, this foundation cannot engage in any type of commercial activity, and therefore cannot get into debt or lose its solvency.
In principle it is a broker that does not have many ways of contacting, however, the opinions of the users agree that they are very efficient. This is because DeGiro staff has real knowledge about trading and about the use of the broker’s platform.
In case you need to contact DeGiro staff, you can do it by phone from 8:00 am to 10:00 pm. It is also possible to access the customer service via email firstname.lastname@example.org.
Opinions of DeGiro
When investing your money in a broker it is always advisable to take into account the opinions of the users. The simple reason is that when it comes to brokers for retail traders, the narrated customer experience can save us a lot of time.
Anthony M. has reflected his experience as follows: “This is an exceptional broker for investing in stocks. The commissions are really low and the trading platform is very efficient. I would only add to it being able to trade with bitcoins and Forex”.
Kevin A. also expressed his experience with DeGiro: “I believe that to trade safely, DeGiro is one of the brokers that inspires me the most. I found it very easy and quick to create an account, and the platform’s interface is very user-friendly for trading.
Aldana C. said: “At first I was disappointed that I couldn’t trade Forex or bitcoins. Luckily, I later discovered something I had never considered before such as the world of stocks, bonds and ETFs. From that moment on I started to recommend DeGiro to everyone I know.”
DeGiro Alternatives and Competitors
After reading all the content about DeGiro, you will probably still decide to meet other brokers. Just as this broker stands out for its low commissions and fees, there are others that stand out for their offer to buy and sell bitcoins and Forex.
It is always important to acquire the widest possible view when investing money, so that you can know everything about brokers and trading investments, here you will find a list of the best online brokers:
As demonstrated, DeGiro is a secure broker with the lowest rates in the European market. The almost non-existent commissions and the wide variety of products to invest in the main stocks and exchanges of the world have consolidated its success.
When you talk about DeGiro, you are talking about an ideal broker for retail traders who choose to invest in bonds, ETFs, derivatives, stocks and funds. In this sense, DeGiro operates in the most important countries in Europe. In addition, it has monthly promotions to invest without commission in ETFs.
While it is possible to find in few opinions certain comments on the age of the charts, most customers celebrate the effectiveness of the platform. On the other hand, there are also not many tutorials, but the existing ones are very helpful and accurate.
One of the biggest disadvantages of DeGiro is the impossibility of investing in the Forex market or in bitcoins. The only way to trade bitcoins is through an ETF that trades them.
DeGiro technical and characteristic sheet
|Countries where it is regulated||30|
|Time to open account||1 day|
|Trading Rates||4 € + 0,05%|
|Bank card deposit|
|Deposit with electronic wallet|
|Demo account available?|
|Easy to use platform?|
Frequently Asked Questions about DeGiro
DeGiro is an Amsterdam-based broker authorized to operate as a financial firm. DeGiro’s hallmark is its low commissions and fees for trading in bonds, shares, ETFs, funds and derivatives.
DeGiro is an online broker, and therefore works through a web platform and also the mobile application. It is a very instinctive and simple to use interface, according to the opinions of all users. You only need to have Internet access.
Unfortunately, in this broker it is not allowed to trade with cryptosystems like bitcoins. It is also not possible to trade by buying and selling currency pairs in the Forex market.
However, for those who wish to obtain bitcoins, there is a solution. You simply have to find an ETF that invests in bitcoins.
Users’ opinions agree that DeGiro’s strongest point is its low rates and commissions. In addition, the broker offers monthly promotions to invest in ETFs for free.
When trading in the world’s major markets, to make money on DeGiro you must invest in stocks, bonds, derivatives, funds and ETFs. The only secret is knowing when to buy and when to sell.
All DeGiro clients’ accounts are segregated in a foundation belonging to the broker called Stichting. The purpose of this foundation is to safeguard the capital of the clients, since it cannot carry out any commercial activity or take on debt.
In addition, DeGiro has a compensation scheme of EUR 20,000. Thus, in the unlikely event of bankruptcy, each user is supported by the Dutch Investor Protection Scheme.
DeGiro is supervised by and complies with the established rules of the Dutch Central Bank and the Dutch Financial Markets Authority. The broker is duly registered with the number 34342820 at the Amsterdam Chamber of Commerce and Industry.