Choosing a forex broker is no easy task, especially if you are yet to gather the necessary experience which will allow you to discern the good brokers from the bad ones. This is where we come in, with the sole purpose of helping you decide whether or not a certain service fits your trading style and goals.
Just to be clear, this is a Degiro review in which we will be discussing the most important features that this online broker has, along with its offer, fees, and everything else that could prove useful to know. In the end, you will be able to decide whether or not Degiro is the right choice for you and your trading endeavors.
More about Degiro
Degiro is an online broker based in the Netherlands which aims to deliver a series of advantageous discounts along with a complex trading offer to its customers. It was created back in 2008 but was later turned into a stock brokerage firm in 2013, only for retail investors. By choosing Degiro, clients will have access to more than sixty security exchanges.
Customers have the possibility to buy and sell stocks, bonds, mutual funds, warrants, ETFs, and options. They can choose to perform those activities on the official Degiro web platform as well as through their mobile trading app. It must be mentioned that this broker is only available for a number of countries located in Europe, with the United Kingdom, France, Italy, Spain, Finland, and Germany being among them. It is also available for people living in South Africa.
Three different regulatory bodies have approved Degiro as a professional and safe online broker. Currently, it has more than 400,000 customers and an investment protection feature that becomes available for clients for 20,000 Euros.
What are some of Degiro’s features?
Degiro is truly one of the most popular online brokers out there. Knowing that choosing a forex broker can be extremely difficult sometimes, we have decided to present you with some of its most notable features.
Firstly, Degiro has a complete in-house development. Its trading tools are unique thanks to this ambition of the team. Moreover, all of these tools have been adapted to fit a wide variety of clients which is part of the reason why Degiro is so popular.
Degiro also has relatively low costs, especially compared to other similar services. It doesn’t have any custody fee. Plus, their retail clients benefit from the same low costs as their professional clients. Another big advantage that this broker has is its cost calculator that you can find on the official website.
What are the Degiro account types?
Degiro offers five different account types that are suitable for all types of traders. Here are more details on each of them.
- Custody account: perfect for beginners, it allows clients to trade shares, bonds, investment funds, and ETFs.
- Basic account: this account includes all the aforementioned features of the Custody account. However, it also offers clients the possibility to trade on products and leveraged warrants.
- Active account: this one combines all the features of the Custody and Basic account plus the option to go short and to buy up to 50% of the available margin.
- Trader account: besides all the above features, this account type also comes with the possibility for users to buy up to 100% of the available margin. Moreover, people who choose this account have access to free dividends and coupon processing.
- Day Trading account: finally, this account type allows customers to buy up to 100% of the available margin and to trade derivatives.
What about Degiro’s trading platforms?
Degiro has a classic web trader and a mobile trading app that all users can take advantage of, depending on their trading style. If the desktop trading platform is super simple to use and classic, the mobile trading app is truly special.
According to numerous clients, this mobile trading app is not only intuitive but it’s also very quick. Plus, it seems that order management works the same way as it does on the desktop platform which is a very good thing that helps users a lot. Even if the Degiro mobile app doesn’t yet offer price alerts, traders can choose to activate push and email notifications whenever they like.
Some of the features of the mobile trading app include charting tools, real-time trades with updates, the possibility to open and close positions instantly, single click rates, and the possibility to pick from hundreds of trading tools that are available directly on the app.
Deposits and withdrawals
If you want to become a client of Degiro, you should know that you cannot make deposits using your credit/debit card or via any third-party services, like PayPal. The only methods available are through Trustly, through bank transfer, or electronic wallet. Deposits usually take a few hours to be processed and Degiro doesn’t charge any fees for that. When it comes to withdrawals, the same procedure applies. You get your money very easily and quickly from them.
All in all, we cal safely say that Degiro is a safe, fast, and professional online broker that clients should pick regardless of their experience level. However, everyone should keep in mind that Degiro doesn’t offer access to the forex and CFD markets and that you cannot use a credit/debit card or third-party payments. Still, if this still works for you, Degiro offers a lot of features for relatively low costs and helps customers reach trading maturity through successful efforts.