DeGiro Overview
DeGiro is a famous Dutch trading platform, which has a large competitive advantage over other popular platforms, due to the incredibly
low fees. It has been one of the quickest growing platforms in the Netherlands and has expanded into other countries, including the
United Kingdom. It currently has the lowest known trading fees of all platforms in the Netherlands and the United Kingdom.
Assets classes in which you can invest in:
- Shares (equities)
- Futures
- Options
- Rights
- Bonds
- Investment Funds
- Leveraged products [CFD’s]
Countries Where DeGiro Is Available
With DeGiro you can invest in most markets. A complete list can accessed through the following link.
DeGiro Fees
| Investments | Commissions |
|---|
| Trading UK stocks | £ 1.75 + 0.004% commission a trade. (Max fee with commission is £5) |
| Trading US stocks | € 0.50 + USD 0.004 per share |
| Trading German stocks (XETRA) | € 4.00 + 0.04% |
| Germany – Zertifikate-Börse Frankfurt | € 2.00 + 0.10% |
| Germany – Frankfurt (Stocks) | € 7.50 + 0.08% |
| Canada | € 2.00 + CAD 0.01 per share |
| Belgium, Denmark, Finland, France*, Ireland*, Italy*, The Netherlands, Norway, Austria, Portugal,Spain, Sweden, Switzerland | € 4.00 + 0.04% |
| Australia, Hong Kong*, Japan, Singapore | € 10.00 + 0.05% |
| Hungary, Greece, Mexico, Czech Republic, Turkey | € 10.00 + 0.15% |
| India | € 10.00 + 0.20% |
| Malaysia*, New Zealand, Taiwan | € 10.00 + 0.15% |
| ETF trackers worldwide | € 2.00 + 0.02% |
When buying shares on overseas exchanges, there will always be a connectivity fee. Therefore, when buying shares from the New York Stock Exchange, you’d be paying 0.25% of your portfolio’s value (max 2,50€). This is important to keep in mind when doing overseas trades.
Degiro Pros
Low costs/fees – With their current cost structure, they have the lowest costs in either the Netherlands or the United Kingdom. This is the main reason DeGiro has been growing so much and has been so successful.
Investing in franctions – DeGiro is creating a method to invest in fractions of products. This would mean you do not have to buy 1 share of Google, you can buy 0.100 shares of Google. This is ideal for investors with a smaller portfolio, or for investors which want to keep their portfolio diverse.
User friendly web trader – It is very easy to make trades and the website is well organized.
Fast to get started – It literally takes less than 20 minutes to create an account.
No hidden costs – There is no membership fee or extra costs for each trade. The fees and costs are transparent.
DeGiro Cons
No research tools – No analysis tools are available, unlike competitive brokers.
No trade confirmations – After making a trade there is no confirmation. No e-mail to verify your trade nor any pop-up on the platform. Your portfolio has to be checked manually, in order to see if the trade has been done successfully.
Inconvenient funds deposits – In order to deposit money, you cannot pay by debit card but have to manually transfer money to their bank account.
Recommendations
1. People who know what they are doing: DeGiro works great as an execution only broker. They do not provide any analysis or help with research. Therefore, if the investor knows which trade he wants to do beforehand, by using other analysis software, DeGiro is perfect for you, due to its low fees.
2. Traders: Degiro is also very good for frequent traders thanks to their low trading fees.
Who is Degiro not good for:
1. People which need prepared research and analysis – DeGiro offers no help researching, nor does it show any statistics of what other people are trading. Therefore, it is important to realize you’ll have to make use of other software, websites and platforms to do your research.
2. People who might need customer support – Eventhough their platform and website is well structured and organized and little support is needed, mistakes do happen. And trying to reach DeGiro’s customer service is a pain. They do not have a live chat, and their phone Lines are usually busy. It takes approximately 20-30 minutes to reach someone through phone and it takes up to 24 hours to receive an e-mail response.
DeGiro Review Summary
Everything at DeGiro is straightforward for experienced traders. The fees are low and it is easy to transfer from another platform, as the options available are similar. DeGiro is a bit more basic, especially due to the fact there is no way to do research by making use of the platform.
However, this problem is easily solved by just using well known websites and software to determine which trades are worth doing, then switching back to DeGiro to make use of their low rates.
In the end, it is a platform definitely worth trying out if you have been trading for a while.
Updated on 4/3/2017.
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