Europe Lowest Stock Trading Fees. Cheapest Brokerage Commissions.


Best brokerage firms with lowest commissions on stock trades in Europe. Online brokers cheapest trading fees (flat rate) in 2017.



Europe's Lowest Cost Broker Overview


This review covers the benefits and downsides of the online brokerage Degiro. The Dutch broker Degiro has been established in 2008, but has only been operating since 2013, hence one can classify this broker to be fairly young.

From the start, Degiro entered the field of online brokerage with low trading fees especially when it comes to equity trading. When Degiro launched, they announced to provide private investors, as well as professionals with a broker platform at trading fees which “remain up to 99% below that of current retail brokers operating in the Netherlands”. This led to huge media attention in the beginning of its introduction phase, which established a fairly good foundation for becoming one of the most competitive discount brokers worldwide.


Opening an account


The online broker Degiro is operable in 18 European countries, ranging from Austria to the UK, therefore one can choose where to open the account from a wide variety. The opening of an account at Degiro is fairly easy and does not require more than 15 minutes. To be fully able to trade, money needs to be transferred to the newly opened account; this might take some time if the account is not local.

When signing up for Degiro as an investment group, one needs to undergo the legal procedures of the local legal system. In the Netherlands this includes signing an acceptance form, as well as providing the statutes of the group. The following description of the account opening procedure is based on the Dutch version of Degiro (‘Degiro.nl’) for the investment group ‘Phoenix Investment’.

The procedure of signing up was guided by an excellent customer service who are reachable via various channels; including live chat, email, and phone. The friendly phone customer service is prepared for a wide variety of difficult questions. It is important to mention that as a US citizen, one cannot use Degiro as an online broker due to its policy that restricts Americans from opening a Degiro account. According to They argue that this is due to the complexity and inconvenience of the US tax system.

Generally, one can assess that opening an account at Degiro is straightforward and any questions regarding the process is extinguished by its good customer service.


Low costs but also low coverage?


Degiro marketed itself from the beginning as a low-cost brokerage and maintained this image until now. Degiro’s costs for some financial products on different exchanges are listed below (Figure 1). These are below the average of other discount brokerages; this allows for a good basis for trading on various stock exchanges at low cost. Another offer of Degiro that is worth mentioning is its ‘once per month’ free ETF trade. For this to apply, it has to be an ETF from the following list covering more than 700 ETFs worldwide. Moreover, the capital invested in the chosen ETF needs to exceed 1000 €/USD/GBP.


Lowest trading commissions in Europe


A huge downside of using Degiro as your brokerage, it does not allow to trade international (non-local) options or turbos. For instance, when using ‘Degiro-Netherlands’ only Dutch turbos and options will be listed for trading. One needs to keep in mind that Degiro is still a rather young broker and this needs to be taken into account when looking at this.

Another disadvantage of using Degiro is the lack of Real-Time display of current positions. On their webpage, Degiro clearly promotes that they provide Real-Time quotes for no additional fee. However, this holds only true for the CHI-X exchange - for other exchanges one needs to pay an additional fee (ranging from 1.50€/month to 18.20€/month). The default setting on a Standard Degiro account is that the displayed prices are delayed by approximately 15 minutes.

As mentioned before, Degiro had an extremely high media coverage in the starting phase, which intensified after it won its first awards. International awards, such as #1 Dutch broker in regards to cost (Beleggers Belangen, 2014), Golden Bull Award (2015), Best Stock and Bond Broker (Börse Online, 2017), prove that Degiro is not only about cheap prices but also stays true to quality. Often times, discount brokers lack in quality and coverage of a reasonable amount of stock exchanges. Degiro, however, manages to combine low fees and costs with quality and coverage.


Usage, Interface and System Design


The structure of the web interface is good and one can effortlessly work with this broker. The menu and search bar make it easy to navigate through the various panels of the website. Furthermore, the search function is impeccable and displays search results for different asset classes. For instance, searching for Tesla will have the following search output as shown in Figure 2 (incl. Turbos, warrants, stocks). Moreover, the wide variety of order types enable traders to pick their preferred option, most suitable for their trading strategy.


Europe lowest cost broker
A disadvantage of using Degiro is that there is no possibility to research on the brokerage website; however this is rather normal for a discount broker. Degiro offers an app (Android and iOS), which made great improvements over the past year in terms of display and design, as well as security due to an additional 5-digit code that is required to enter. Still, providing a desktop platform for trading can be useful and convenient; therefore can be seen as room for improvement.

Another suggestion for Degiro enhancing their service is to offer their broker platform in multiple languages. When opening an account in one of the eighteen countries, the default language will be the local one. This can be problematic for expats living in a country that desire to trade with the lowest trading costs on the chosen local market, but in their mother tongue. It is understandable that providing a wide variety of system languages can be difficult to implement, though in the age of internationalization, one should at least provide English as a system language.


Europe lowest commission broker


Lowest Broker Commissions in Europe Summary


Degiro is a typical discount broker offering their financial products at very low costs. From the beginning, Degiro has been surprising traders with extremely low costs and has been accredited for that by various awards. Generally, customer support, usability and interface design are all of decent quality, especially compared to their discount broker peers. Overall, Degiro is highly recommendable as a broker due to its good quality at low and competitive costs.


Updated on 7/4/2017.




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