DEGIRO - broker for DGI investors
In 2013, DEGIRO launched its online brokerage services in the Netherlands. Since then, DEGIRO has expanded across 18 European countries enabling retail investors to benefit from a highly competitive commission structure. As a result, DEGIRO has quickly become one of the largest brokers in Europe. Investing involves risk of loss. DEGIRO has 7500+ stocks and 1500+ ETF available on the platform.
DEGIRO has low trading fees for all asset classes, both stocks and options. Non-trading fees are also low, as there are no inactivity or withdrawal fees. For example, US stocks have $0.004 per share + €0.5 and mutual funds 0.1% + €7.5 and 0.2% annual administration fee.
Opening an account with DEGIRO is fast, fully digital and with no minimum deposits required. You will need a copy of your passport or ID card and a bank account to your name. Before trading, you'll need to complete an appropriateness test, agree to the conditions ofr real-time prices and transfer money to your investment account.
- Day Trader
Trading fees are the same across all profiles, though there are some minor exceptions for Custody accounts. DEGIRO does not provide tax-free account options like DEGIRO ISA or others available in some European countries.
Deposits and withdrawals
DEGIRO deposits and withdrawals are free of charge via bank transfer, while credit or debit cards are not supported. You can choose a currency from 9 base currencies - CHF, DKK, GBP, NOK, SEK, EUR, CZK, PLN, and HUF. By default, you will have the currency of your home country -> if you register through degiro.co.uk version, your default currency is GBP. It is possible to create an account in a different currency, but you have to have a bank account to your name in that currency. That is a great way how to avoid paying currency conversion fees.
DEGIRO's web platform is simple and easy to use, even for beginners. On the negative side, you cannot set price alerts. It is user-friendly, with clear fee report and two factor authentification. They have both web version and mobile apps.
Dividends are paid as in any other brokers. Degiro provides all relevant documents, like W8-BEN for European clients to apply for withholding tax (e.g. etoro does not offer that). DRIP and fractional shares are not supported.
You can reach out to them in many languages, and phone support is great. On the other hand, there is no live chat and 24/7 availability. Phone and email support are available, a big advantage is that you can contact customer service in your language if you're from one of the 18 countries supported.