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DEGIRO entered the broker market relatively recently, in 2013. But since then, it has managed to become one of the sector’s benchmarks, with more than 600,000 accounts and a presence in 18 European countries.
They claim to have a transparent platform with the best commissions in the market. It is a broker registered and regulated in the Netherlands and supervised by public bodies such as the FCA (Financial Conduct Authority).
DEGIRO has a current promotion, only applies for some countries (e.g. Spain, Holland, Italy, France, Ireland, Portugal and Austria), where you will get 50 € off your transaction costs back for the trades you do until the 1st of September. This promotion only applies to new customers and conditions apply.
But of course, you may still be asking yourself; What securities do they offer?, Are their fees as low as they say they are?, Is their system easy to use? Will it adapt to your investor profile? And Will it work for you?
To answer all these questions and see if this broker is right for you, then take a look at this detailed DEGIRO review.
Please note that investing in the stock market is a risky business, and you may lose your investment. It is important you understand these risks before you start.
What kind of broker is DEGIRO?
DEGIRO is a platform where you can trade all types of securities such as stocks, funds, ETFs, options, warrants, bonds and futures.
Its main feature is that they offer very low commissions, and you can invest in many securities at very low costs.
Some DEGIRO ETFs have no commission once a month
As we will see below, not all DEGIRO account types allow you to trade all instruments. For example, some advanced financial products are not available in the Custody or Basic profiles.
Pros and Cons of DEGIRO
Of course DEGIRO has many advantages, but it may not be an ideal broker for everyone, so let’s take a look at the Pros and Cons:
Open an account online: You can open an account fully online in hours if you send them all the documents they ask for (e.g. ID and a copy of an invoice), and link your account instantly (e.g. by making a bank transfer from €/£0,01.
A choice of securities and markets: Using DEGIRO you can invest in stocks, ETFs, funds, options, bonds, futures of many European and Asian countries as well as the US, Canada and Australia.
Well-designed: It is an intuitive trading platform. It is easy to find the product you are looking for, and to navigate the different markets.
Low fees: DEGIRO is one of the brokers that charges the most competitive fees to its users. In some cases you will be able to invest in some ETFs commission-free once a month if you invest more than €/£1,000, conditions apply.
Regulated: You can be confident that DEGIRO is not a financial scam because it is properly regulated by the Dutch Financial Supervisory Authority. It is also properly registered with the (British) Financial Conduct Authority.
Optional leverage: Choose to open an account that allows you to trade with leverage (by borrowing) or without leverage. I like this flexibility. Not all accounts allow leverage.
But it also has some weaknesses that you should know about:
No investment in Forex, CFDs or Crypto: You will not be able to invest in currencies or cryptocurrencies. At most, you can look for an instrument (e.g. ETF) that invests in these instruments. It is also not possible to invest in CFDs.
No demo account: Although it is possible to use their platform for free (no inactivity fee), you will not be able to use the account in a simulated way with fictitious money as they do not have a demo version – check eToro, XTB or Plus500 if you’d like to have access to a demos account.
Charting can be improved: Although they have more than 20 technical indicators, and you can add indices to your charts, they look a bit outdated. However, it is possible to save the charts for later review.
Who should use DEGIRO
DEGIRO is a versatile broker as it has a wide range of instruments which you can trade in a lot of markets. You can also trade with or without leverage, which is why I find it suitable for both beginners and professionals looking to trade with very low commissions across multiple markets.
But if you plan to trade forex or cryptocurrencies, DEGIRO is not the broker for you. It would be better to check out Plus500 or eToro.
Type of accounts with DEGIRO
DEGIRO offers several account types, let me clarify what each account offers and help you decide which one suits you best. You can choose between Custody, Basic, Active, Trader and Day Trader accounts.
With the Custody profile your investments will not be lent to third parties. With this type of account some commissions are a little higher, and you will not be able to trade some assets like options and futures.
Note: Please note that it is not possible to switch from a Custody profile to a Basic profile (or higher). However, it is possible to upgrade from Basic to higher profiles such as Active, Trader and Day Trader.
If you don’t mind DEGIRO lending your securities to others, and you don’t need to trade with leverage, I would suggest you start by opening a Basic account – you can always upgrade your profile later on.
If you want to be able to borrow money from DEGIRO, trade with leverage and be able to trade futures, options and short trades, consider theActive, Trader and Day Trader profiles. Choose the one that best suits your leverage needs, as this is the only difference between these account types.
Apart from completing the registration properly, linking an account in your name and sending DEGIRO the necessary information to verify your identity and residence, there are not many other requirements.
Just keep in mind that not all countries are accepted. But DEGIRO can be used in most European countries such as the United Kingdom, Spain, Poland, Germany, France or Italy. Sadly, it cannot be used in non-European countries such as the United States or Australia.
Opening an account
Opening an account with DEGIRO is straightforward. All you have to do is follow these steps:
Add your email address, choose a username and password.
Verify your email account
Fill in the requested information: personal details, address, place of birth, etc.
Add the number of the bank account you want to link.
Verify that your information is correct
Upload a photo of your ID card or passport.
Once you have completed all of this information and uploaded the required documents, they will review your application and inform you of the next steps. You will usually be asked to make a transfer from your account (this can be as low as €/£0.01) to activate DEGIRO.
DEGIRO in detail
Country and regulation UK, Italy, Spain, France, Germany, Holland, etc.
DEGIRO is regulated by the German Federal Financial Supervisory Authority (BaFin). But it’s also authorised by the Financial Conduct Authority from the United Kingdom.
Besides the UK, customers from 17 other countries like Italy, the Netherlands, Spain, France or Germany will also be able to open a DEGIRO account. Sadly, DEGIRO is not, for now, available in other countries like the US, Australia or Canada.
DEGIRO will not require you to make a minimum deposit, and will not charge you fees for depositing funds. You can add money by bank transfer and (in some cases) e-wallets such as Sofort and Trustly. It would be nice to be able to add funds by credit or debit card, and PayPal.
Your account can be set up in various currencies such as GBP, EUR, CHF, DKK, etc., depending on where you open the account. The minimum deposit can be €/£0.1.
It is a pity that they do not have a demo account with which you can test the system and get started in the world of investments.
Products & trading
You can buy shares in more than 30 stock indices in Europe, North America, Asia and Oceania.
ETFs & Funds
You can access some 5,000 ETFs from the DEGIRO platform. Among others, ETFs from Vanguard, iShares, BlackRock, Amundi, Lyxor, etc. You can invest in around 200 ETFs without any commission (e.g. Amundi, iShares, Lyxor or Vanguard, conditions apply) once a month and for purchases of €1,000 or more.
DEGIRO also has around 500 investment funds that you can trade. You can find investment funds from entities like Amundi, BNP Paribas, BlackRock, Fidelity, HSBC or Vanguard.
With DEGIRO you will not be able to invest in Forex, if this is a prerequisite for you, you will have to consider other alternatives, such as XTB or Plus500.
CFD trading is not possible with DEGIRO, it is not the ideal platform for trading derivatives.
It is not possible to trade cryptocurrencies on DEGIRO, although you may be able to find an ETF that invests in cryptocurrencies. Alternatively, you can take a look at eToro.
If you have an account (profile) other than Custody you can also trade options and futures.
Types of orders
You will be able to trade by placing orders for both number of securities and amount of money. There are also trading options such as Limit, Market, Stoploss and Stoploss Limit.
DEGIRO offers the option to invest by taking advantage of its leverage options (available in Active, Trader and Day Trader profiles), but this is optional.
Fees vary depending on the type of account you have and the product you are trading, which are generally competitive.
The purchase of shares, ETFs and warrants in the US market will cost £0.50 + USD 0.004 per share. For the UK market, they will cost £1.45 + 0.014% per share with a maximum of £5 per transaction.
Note that they charge a financing fee, so bear this in mind if you are going to borrow money.
DEGIRO will not charge you inactivity fees, not all brokers can say the same.
They have a €/£2.5 annual fee for each market other than your home one (e.g. you invest in Nasdaq stocks, but you are based in the UK) in which you trade. There is also a 0.1% foreign exchange fee if you trade in other currencies.
DEGIRO has a very user-friendly interface, all you need is your computer and your browser. The system is intuitive, and you can easily navigate using the top menu. In addition to English, the application is also available in other languages such as German, Spanish, French and Italian. Without a desktop app to install on your computer, you will have to use the online version (with a browser).
The phone app is available for Android and iOS, users give it an average rating of 4.5 out of 5.
The charts with DEGIRO look quite outdated, but the options for customisation are decent, although other brokers offer a bit more.
You can add about twenty technical indicators (e.g. standard deviation) and compare the chart with various indices (S&P500 or NASDAQ). You can save the charts for later reference.
You have a section with basic news that can affect your investments. It’s really nothing special.
It does not have an economic calendar (Plus5000 type) to keep you up to date with major financial events (e.g. dividend announcements, etc.).
Education and guides
The truth is that DEGIRO doesn’t have many tutorials for you to watch and learn from, but the ones they do have are well done and informative. On their YouTube channel they have a few videos around 3 or 4 minutes long.
And they have a large section with explanations (written and without images) about how their platform works, which should answer most of your doubts and questions.
You can receive confirmation notifications by email, as they don’t have a text message notification feature. Sadly, there are also no alerts about prices and volumes.
From 8 a.m. to 10 p.m. you can call DEGIRO’s customer service, although they are not always quick to respond. It is best to contact them by email as they are more responsive.
DEGIRO offers many assets to invest in, its platform is well-designed, and its fees are competitive. In addition, it is regulated by the German BaFin, and authorised by the British FCA, so you are guaranteed it is legit. It’s not a platform to trade CFDs.
DEGIRO commissions in detail
As I mentioned before, DEGIRO charges very low fees, something that is always a bonus for investors. They are also very transparent with their commissions, and you can find out more information on their website.
DEGIRO does not charge fees for: account inactivity, deposits or withdrawals, account opening or closing.
You will see many references to commissions in euros, although you may be trading in another currency, for example GBP. In this case, you will be charged an exchange fee by DEGIRO.
In addition, you have a promotion of around 200 ETFs in which you can invest once a month for free (min. €/£1,000, conditions apply). This can be a good option for those who see investing as a method of saving, for example by adding money each month to a Vanguard or iShares ETF.
Below is a summary of the fees that DEGIRO charges for based on their different operations:
London Stock Exchange
£1.75 + 0.014%
0.50 € + 0.004 $ USD per share
€4 + 0.05% (XETRA)
€2 + 0.11% (Frankfurt)
Rest of Europe stocks
€4 + 0.05%
€2 + 0.03%
About 200 free with conditions
€7.50 + 0.10% and 0.20% service fee
Netherlands, Belgium, Portugal and France: €2 + 0.06%.
Germany: €5 + 0.05%.
OTC: €35 + 0.03%.
Spain, Germany, Nordic countries and the US
From €0.50 per contract to €2 per contract
Spain, Germany, Nordics and US
From €0.75 per contract to €2.50 per contract
On the other hand, please note that you will be charged for the following:
Market connectivity: For each market other than your home one (e.g. German market if you live in the UK), you will be charged an annual fee of €2.5. If you operate in 3 or 4 markets this will not be a big problem, but keep in mind that if you are going to operate in many markets at the same time this can cost you a lot of money. However, it will never be more than 0.25% of the maximum value of your DEGIRO account.
Financing fees: If you are going to trade with leverage, similar to borrowing money from your broker, this has a daily cost (in interest) that the broker will pass on to you. This will depend on the amount you borrow and the currency. For example, they charge 1.25% for financing in euros, US dollars and pounds.
Foreign exchange fees: Similarly, if you trade securities in currencies other than your DEGIRO account currency (e.g. Swiss francs), you will be charged a 0.10% exchange rate fee.
With DEGIRO there are other non-standard service fees that you can request such as portfolio transfers, stock exchange changes, attendance at shareholder meetings, payments with Sofort and Trustly, etc.
DEGIRO generally charges very low commissions for the transactions you make, but for some countries (e.g. in Asia or Australia) their commissions are not so attractive. If you think you are going to invest in these markets, take a detailed look at their fees beforehand.
Markets and products with DEGIRO
DEGIRO is one of the brokers that gives you access to the largest number of assets; 50 markets from around 30 different countries. In addition, the variety of investment products are diverse and exciting, you can invest in the following:
I also want to let you know about the most popular assets they offer (stocks, ETFs, bonds and funds).
Shares with DEGIRO
As you can see in the screenshot above, the DEGIRO makes it possible to invest in shares of many European and international stock exchanges. For example, you can find shares from the Madrid Stock Exchange, NASDAQ, NYSE, NYSE MKT, Australian Securities Exchange, Singapore Exchange, London Stock Exchange or European exchanges such as Euronext Paris, Xetra (Germany) or SIX Swiss Exchange.
In short, DEGIRO gives you access to company shares on 4 continents: (North) America, Europe, Asia and Oceania.
Among other stocks you can buy shares of: Apple, Tesla, HSBC, Amazon, BBVA, Alphabet, American Airlines Group, AstraZeneca, Shopify, Tesco, Siemens, Toyota, BNP Paribas and Pirelli.
Undoubtedly, one of the most popular products among retail (and non-retail) investors are ETFs. They are similar to mutual funds, but are easier to buy and sell, and their trading fees are usually lower.
The DEGIRO gives you access to thousands of ETFs from many markets (almost 4,700 ETFs). It is possible to invest in ETFs from exchanges such as Hong Kong, Singapore, Brussels, Paris, Madrid, German, Italian and Madrid and more. You will be able to find ETFs from fund managers such as Amundi, Vanguard, BBVA, iShares, Lyxor or HSBC.
DEGIRO allows you to make a monthly trade in a selection of around 200 ETFs without being charged fees for this, if you invest more than €1,000 or equivalent to the currency in which your account trades, conditions apply. If you are thinking of using ETFs to invest, you may find this interesting.
But if you aren’t convinced by ETFs, it is also possible to buy and sell mutual fund shares. DEGIRO offers more than 400 investment funds from fund managers such as BlackRock, Amundi, Allianz, Vanguard, BNP Paribas, ING and JPMorgan.
Investing in bonds with DEGIRO
DEGIRO is one of the few brokers I have tried that allows you to invest in bonds, the truth is that there is not much variety of markets, but there are almost 700 different bonds between government and corporate debt.
At the time of writing this review you can find bonds from European markets such as the Amsterdam, Lisbon, Paris, Brussels and Frankfurt stock exchanges.
Some account types will also allow you to trade derivatives (and more complex products) than stocks, ETFs, mutual funds and bonds.
Currencies: Some users (depending on your account) may be able to invest in currencies through Currenex.
Derivatives: With DEGIRO it is also possible to trade some derivatives, basically options and futures from derivatives markets such as Brussels, Amsterdam, Madrid, NYMEX or Eurex.
These financial instruments are assets that have a higher complexity and therefore carry a higher risk. Keep this in mind before you trade.
Is DEGIRO a scam?
DEGIRO is a broker that is duly registered with the UK Financial Conduct Authority, so you can be rest assured that it is a serious entity and not a financial scam. Furthermore, this platform is supervised by the German BaFin.
As both bodies (the FCA and the BaFin) belong to countries with serious financial supervision laws, you can be sure that DEGIRO is closely monitored by these bodies. In addition, it has to comply with a number of laws and respect your rights as an investor.
On the other hand, as an investment firm licensed by the Netherlands Authority for the Financial Markets, you will be entitled to compensation (up to €20,000) if something bad happens to DEGIRO and affects your investment – although it seems that youwill not have this protection if you are trading from the UK, saying that I am not a lawyer 😉
Safety and DEGIRO
With DEGIRO your investments are in a separate legal entity. If DEGIRO should have problems with creditors, as your investments are in a separate entity, they cannot be claimed by (DEGIRO’s) creditors, although these rules are different in each country, and I reiterate, I am not a lawyer 😉
Please note that some DEGIRO profiles (all except Custody) allow DEGIRO to lend your securities, DEGIRO does this to facilitate short transactions for its clients. This means that in the hypothetical event that DEGIRO or the counterparties to the trades are unable to meet their obligations, you would lose the difference between the value of the assets lent and the collateral required by DEGIRO from the borrower. I am not aware that this has happened with DEGIRO, but if you are worried about it, please take a look at the Custody account.
If you want the highest security for your account and need to add an extra layer of security, you can activate the 2-step authentication (see the video below).
2-step authentication with DEGIRO
The idea is simple: before you can access the DEGIRO platform and once you have entered your username and password. You will be asked to confirm a code that will appear in your phone (via the Google Authenticator app).
So, even if someone guessed your username and password with DEGIRO, they would need access to your phone to “hack” your account and gain access. Personally, I use this system on all the platforms where it is available and am a big fan of it.
Withholding and taxes with DEGIRO
Keep in mind that DEGIRO will not issue a tax report, but at the end of the year you will find a report with your account activity so that you can complete your tax return with the necessary information.
Each country has different legislation on how to pay tax on your investments, and sometimes you may have to report investments held in your name as well. If you do have any doubts about this, it’s best to consult a tax advisor.
Bear in mind that the DEGIRO does not withhold any tax, when you are filing out your tax return.
Please note: The above tax information is for guidance only and as I am not a tax advisor, this is just a guide and an insight into my personal experience. If you do need further information on this I would advise you to consult an accountant or tax expert.
Frequently asked questions about DEGIRO
Who is the owner of DEGIRO?
DEGIRO is a broker originally founded in the Netherlands in 2008, expanding its brokerage services to other European countries. German broker Flatex AG acquired 100% of DEGIRO’s shares in 2019.
How can I contact DEGIRO?
It is possible to contact DEGIRO by telephone, from 8 AM to 10 PM (UK time). In addition, it is also possible to contact DEGIRO by email at email@example.com for questions in English. Unfortunately, they don’t have a live chat feature.
In which countries does DEGIRO operate?
DEGIRO operates in several European countries: Czech Republic, Denmark, Germany, Greece, France, Switzerland, Spain, Ireland, Italy, Netherlands, Norway, Austria, Poland, Portugal, Finland, Sweden, Hungary and the United Kingdom.
Unfortunately, if you operate from Latin America, the United States or any other country you will not be able to open an account with DEGIRO.
How can I cancel an account with DEGIRO?
To close an account with DEGIRO all you need to do is send an email to DEGIRO customer services, and then once the account is closed they will transfer the remaining funds to your bank account.
Alternatives to DEGIRO
To reiterate, the DEGIRO is a solid broker that integrates dozens of markets and will give you access to hundreds (if not thousands) of products such as stocks, ETFs and mutual funds.
But you may still want to invest in derivatives?
Well, DEGIRO it’s not the right option as you won’t be able to trade CFDs, which is probably the most popular asset among traders. So with that in mind I have suggested some alternatives which may interest you:
We will start things of with XTB who give you access to many derivative products (mainly CFDs) to trade. Their interface is well-designed and their spreads (commissions) are very competitive. In some European countries (such as Spain, France or Germany) it is possible to buy real shares and ETFs as well as derivative products, sadly this is not the case in the UK.
Then we have eToro, the main difference between eToro and other brokers is that they allow you to ‘copy’ other users, so eToro will replicate all the trades they make for you without you having to do anything. I should note here, to be careful who you follow and do some research beforehand. As usually, they invest in high-risk assets such as CFDs. With eToro it is possible to invest with or without leverage, and in both derivatives and real products (stocks and ETFs): US investors do not have access to buying real assets. Spreads are somewhat higher than with other platforms.
Lastly we have Plus500 who are one of the most widely used CFD brokers in Europe. This Israeli company is listed on the London Stock Exchange and is regulated by the Financial Conduct Authority in the UK and CySEC in Cyprus.
Admittedly, DEGIRO offers access to awide variety of instruments, markets and exchanges that you can trade. A couple of things you may miss out on is cryptocurrencies and forex trading, as these are not available with this Dutch broker.
I want to point out here some of my personal highlights of the DEGIRO, it has really low commissions, but do bear in mind that you will be charged an extra (€2.5 per year) for each additional market you trade. Another perk for me is that the registration is straightforward and the navigation of this trading platform is so intuitive. What has to be the absolute highlight is that the DEGIRO is a regulated broker that is properly registered and supervised.
There are some areas of in improvement that I want to point out, like the fact the DEGIRO doesn’t provide the best charts. It would also be nice to see some more educational content for beginners, but the truth is that the content they have is very well done (e.g. they have engaging videos). And although they have a news feed, it is rather basic. One last point to add here is they don’t have an economic calendar that keeps you updated with relevant events (e.g. earnings announcements).
In short, I think DEGIRO is a great choice for those who plan to invest in stocks, ETFs, funds and bonds in the major European, Asian and North American markets.
I am Josep Garcia, I live and work in Barcelona. I have a fulfilling 9 to 5 job as a digital marketer, but I also have several side gigs I enjoy working on. When I decided to launch my own website (in 2016) I took on the challenge of learning how to program, as I wanted my site coded from scratch. I have to say that finding online educational resources (I used Lynda at the time) was a blessing.