1. Home
  2. >
  3. Reviews
  4. >
  5. DEGIRO Review

DEGIRO Review

In my DEGIRO review I’ve taken a close look at who they are and if they are worth considering as your investment platform of choice.

DEGIRO is a Dutch (now German-owned) broker known for its access to a huge number of products as well as fees that cut almost every other broker off at the knees. With 633,175 customers and over 24.5 million transactions (in 2020), DEGIRO is generating serious revenue and buzz.

The field of discount brokers grows more crowded by the day, but one of the broker platforms that continuously stands out from the crowd is DEGIRO, a European firm famous for its low fees.

My DEGIRO review walks you through everything you need to know about this low-cost broker including how to set-up your first DEGIRO trading account.

Remember:  Investing involves risk and losing money rapidly due to trading risky financial instruments is not uncommon.

Deemed authorised and regulated by the Financial Conduct Authority (FCA). The nature and extent of consumer protections may differ from those for firms based in the UK. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.

Start today with a €50 transaction credit

And invest worldwide at incredibly low fees.
Financial power to you.

Investing involves a risk of loss. Terms and conditions apply.

Offer closes 30th September 2021.

Degiro Rating Summary

Overall Rating: 9/10
90%
Fees: 10/10
100%
Account opening: 10/10
100%
Deposit and withdrawal: 7/10
70%
Trading platform: 8/10
80%
Markets and products: 9/10
90%
Research: 3/10
30%
Customer service: 7/10
70%
Education: 4/10
40%

Pros

One of the lowest fees on the financial markets
Well designed and easy to use trading platform
Quick, easy account opening

Cons

Limited research and education available
Unable to deposit funds using debit or credit card
No availability for Forex

Who is DEGIRO?

Founded in 2008 by five former Binck Bank employees, DEGIRO is Europe’s fastest growing online stock broker with its own banking licence. Initially intended to service professional investors, DEGIRO opened their doors to retail investors in 2013 and today offer their services to investors from several European countries and the United Kingdom.

Who owns DEGIRO?

DEGIRO is one of the largest retail stockbrokers in Europe. Although the company is a Dutch one, in December 2019, Germany’s Flatex AG announced its intention to acquire 100% of DEGIRO. At the time, it owned 9.4% of the company. The final 90.6% of DEGIRO shares were acquired in July 2020, after formal regulatory approval from the Dutch government and relevant authorities. However, the group chose to leave the DEGIRO brand in place.

Flatex’s acquisition made DEGIRO one of the largest stockbrokers in Europe. Early in 2020, Muhamad Charour, Flatex AG’s CFO, said he expected the acquisition to help the company reach 1 million customers within 2020. DEGIRO had 450,000 customers in 2018, and in 2020 this figure had climbed to 633,175 which is short of Flatex’s ambition but still up by 45% when compared to the same period in 2019.

Degiro UK Review

Product Range

When looking for the right online broker, you typically want a platform that grants you the most access to a large number of products. DEGIRO opens up a whole new world of trading that you previously needed both a personal stockbroker and a significant budget to access.

The full list of DEGIRO products and order types in 2020 includes:

  • Shares
  • Investment funds
  • Exchange-traded funds (ETFs)
  • Futures trading
  • Leveraged products
  • Bonds
  • Options
  • Warrants

With so many products, DEGIRO can cater to passive investors who maximised their UK tax-free accounts and want to invest additional funds in ETFs. However, DEGIRO also offers enough products for day traders. The only thing the team doesn’t provide is forex trading.

Degiro Product Range
DEGIRO also offers access to more stock exchanges than the typical DIY investor might want. You have access to 22 European stock exchanges, four North American exchanges, and four Asian exchanges. Are you looking for a specific exchange? We’ll add the full list of financial markets and exchanges at the end of this section.

Your bond choice is limited to six European exchanges, but they are the largest ones.

You can invest in ETFs on 19 exchanges. You have access to the best European ETFs as well as those on two exchanges in Asia and Oceania. However, you don’t have access to ETFs listed solely on North American exchanges. Some investors consider this a deal-breaker given the performance of U.S. ETFs and the fact that other competitive brokers allow you to buy U.S. ETFs.

Finally, DEGIRO promotes futures trading on 14 exchanges as well as the option to trade options on 12 exchanges.

Stock Exchanges Europe:

  • Euronext Amsterdam
  • Euronext Brussel
  • Euronext Paris
  • Xetra
  • Borse Frankfurt
  • London Stock Exchange
  • Vienna Stock Exchange
  • SIX Swiss Exchange
  • OMX Copenhagen
  • BOlsa de Madrid
  • OMX Helsinki
  • Athens Stock Exchange
  • Budapest Stock Exchange
  • Euronext Dublin
  • Borsa Italian S.p.A.
  • Oslo Stock Exchange
  • Warsaw Stock Exchange
  • Euronext Lisbon
  • OMX Stockholm
  • Prague Stock Exchange
  • Istanbul Stock Exchange

North American Exchanges:

Asia and Oceania Exchanges:

  • Australian Securities Exchange
  • Hong Kong Exchange
  • Tokyo Stock Exchange
  • Singapore Exchange

Research Services & Tools

When you practice active trading, the platform becomes far more important than it is with a fix-it-and-forget it managed SIPP or ISA. There’s a lot of debate regarding whether budget trading platforms can offer the features you need to succeed.

DEGIROs calls its trading platform WebTrader, and you get full access both on the web and through the mobile app.

WebTrader grants you access to your complete portfolio, order capabilities, real-time streaming quotes, and news of the financial markets. The app does allow you to work quickly: a QuickOrder button sits at the top of the page so you won’t miss a beat. You also place orders either by order value or number of stocks, so you always know what and how much you’re buying. You can also add products to your Favourites, which saves you time when buying and selling.

Because DEGIRO sells individual assets and caters to novice investors, it doesn’t provide any meaningful resources for research or education. Instead, DEGIRO runs what it calls its Investors Academy, which functions as an online training course for those who have never made a trade before. Some of the topics the DEGIRO Investor Academy covers include:

  • What kind of investor are you?
  • What is a broker?
  • Basic financial products
  • Complex financial products
  • What determines the price of a stock?
  • Choosing your first stock
  • Order types
  • Spreading risk is the key
  • Thinking ahead

All lessons come in video format as well as in a text version.

These concepts walk you through an introduction to stock trading from deciding whether investing is right for you to placing your first order to creating a long-term strategy. The lessons are by no means in-depth, but they are a refresher for someone with an interest.

Even charting and predictions fall by the wayside. They exist, but they’re very much average and cater to those just getting started with investing. DEGIRO also doesn’t offer basic features like stock alerts.

However, the lack of investment in these items does allow DEGIRO to offer trading at a cost that’s substantially lower than its competitors.

In other words, if you want an all-in-one, sophisticated platform, then you need to pay for it. DEGIRO works best for investors willing to sacrifice the tools in favour of lower trading fees.

DEGIRO Fees & Charges

DEGIRO’s trading fees are significantly less than its competitors. You’ll pay £1.75 + 0.014% per trade when you trade stocks in the UK. The maximum charge is only £5 per trade. Plus, the same rules apply no matter how much you trade per month.

The other trading charges for stocks, leveraged products, and warrants depend on the exchange used:

  • Germany – XETRA – 4.00 EUR + 0.05%
  • Germany Zertifikate-Borse Frankfurt -2.00 EUR + 0.11%
  • Germany – Frankfurt (Stocks) – 7.50 EUR + 0.09%
  • Austria, Belgium, Denmark, Finland, France, Ireland, Italy, The Netherlands, Norway, Portugal Spain, Sweden, Switzerland – 4.00 EUR + 0.05%
  • Poland – 5.00 EUR + 0.16%
  • Czech Republic, Greece, Hungary, Turkey – 10.00 EUR + 0.16%
  • Canada – 2.00 EUR + CAD 0.01 per share
  • Australia, Hong Kong, Japan, Singapore – 10.00 EUR + 0.06%

Your total cost ultimately depends on the exchange you use and whether or not it’s in your own currency. Clarity on foreign transaction fees shows real room for improvement

You also pay 2.50 EUR per year as a connectivity fee for every exchange you trade on that is not the London Stock Exchange.

As with most stockbrokers, you will always pay a hefty fee for any trades you make over the phone.

You’ll also pay a dividend fee when you use a DEGIRO Custody account. Right now, the fee is 1 EUR + 3% of the dividend. It caps at 10% of the total dividend. We’ll talk more about the difference between accounts later in the DEGIRO review.

Here’s something new: DEGIRO offers free ETF trading on certain products each month. If you are a passive investor looking to stick to ETFs, then you can save a bundle. In theory, you can even build a complete portfolio based on free ETFs.

Non-Leveraged products

DEGIRO offers the chance to buy non-leveraged stocks, ETFs, bonds, futures, and options. As noted above, you have access to a few dozen financial markets, so there’s no shortage of opportunities to trade with DEGIRO.

Leveraged products

DEGIRO also allows you to leverage some of your stocks and ETFs. DEGIRO allows you to buy on margin while accessing very low interest rates. You can also use options for leverage.

If you want to buy leveraged products, you have access to them via three European exchanges:

  • Euronext Access Paris
  • Xetra
  • Borse Frankfurt

Your choices are limited, but given DEGIRO trading fees, they are worth considering if leveraging investment funds is important to you.

DEGIRO ISA Review

DEGIRO operates in the United Kingdom, but it doesn’t provide tax-wrapper accounts like the ISA. Instead, DEGIRO is a no-frills stockbroker.

DEGIRO SIPP Review

DEGIRO operates in the United Kingdom, but self-invested personal pension products (SIPP) aren’t available.

DEGIRO Platform Review

The trading platform is a no-frills operation that caters solely to investors willing to give up tools and toys to save – really save – on fees. As a result, the typical DEGIRO review tends to focus on what the platform lacks rather than what it offers because its value proposition is solely on cost savings. I don’t think this is an appropriate way to go, particularly given the value the broker offers.

DEGIRO offers five account types:

  • Basic
  • Custody
  • Active
  • Trader
  • Day Trader

It’s worth noting that although the trading platform is user-friendly, DEGIRO doesn’t offer a demo account. This lack of demo account means there’s no way to play around with the platform without committing money. So, if you’re not someone who dives into new sites quickly, then you might consider another low-cost option that includes this feature, like a demo account.

Degiro Platform Review
Let’s talk about the different retail investor accounts. You need to know what account type you want before you sign up because you can’t switch retail investor accounts once you sign up. To switch between two accounts, you need to create a whole new account, and even if you do that, DEGIRO treats them as two separate accounts, which means you pay transfer fees.

The Basic account is strangely named because it’s the most versatile account offered by DEGIRO. You don’t have access to leveraged products, but you also don’t pay the extra fees.

If you’re interested in leveraged products, then you need to choose an Active, Trade, or Day Trader account.

Here’s the big thing you must know before you set up an account with DEGIRO. When you have all accounts bar the Custody account, DEGIRO lends share positions to third parties. Doing so helps them keep fees low, and it can be of benefit to you. However, you lose your money if both DEGIRO and the third party go bust at the same time. When you combine this strategy with the lower protection threshold from the Dutch regulator (20,000 EUR vs. £50,000 from FCIS), cracks start to form. In an ideal world, DEGIRO wouldn’t make it the default option and would instead allow you to opt-into an account that offers this.

Finally, there are a few complaints that crop up among users. There are no instant execution or price alerts, which irritates regular traders. The exchange fees can also be hard to spot, but this isn’t uncommon for an online broker. Each exchange carries its own fees, and hidden fees are unfortunately part and parcel of trading.

Before we wrap up, it’s important to note that you need to consider tax efficiency before trading with DEGIRO. DEGIRO doesn’t offer any tax-efficient accounts nor does its existing account offer any tax-efficient features. There’s no opportunity for automatic dividend reinvestment, so you will need to keep a close eye on your accounts at the end of the tax year. Is this a reason to steer clear from DEGIRO? Not at all. If you have a savvy accountant, then the savings from cheaper execution rates may offset what you spend on increased taxes. You’ll need to decide whether you believe in the idea that it’s better to make the money and pay tax on it then to never have made the profit at all.

Opening an Account

You can open your account in as little as ten minutes. However, it will take two or three business days for full access to the DEGIRO WebTrader platform. Your first account is the Basic account, but you can add on the other options once you’re up and running.

To get started, DEGIRO allows people from 18 countries to open an account, to simplify things if you are resident in the UK, EU, Norway or Switzerland you are fine, outside of these countries sadly you will have to find an alternative provider.

If you’re a UK citizen, you must use a bank located in England, Scotland, Wales, or Northern Ireland. DEGIRO doesn’t accept transfers from Jersey, Guernsey, Gibraltar, or the Isle of Man. It also doesn’t accept transfers from UK overseas territories.

Once you complete the registration form, you need to manually transfer money to your new account. You don’t have to spend much: the minimum deposit is only £0.01. Once the bank transfer reaches your DEGIRO account and the team clears your identification, you can then begin trading. The good news is you can use Instant Deposit for free when you open the account. Though, it will cost fees after you start trading. DEGIRO doesn’t allow you to fund or withdraw using your debit or credit card. You need to manually transfer every single time you fund your account. Any uninvested, deposited funds will be automatically invested into Money Market Funds in line with the requirements of the Dutch regulator.

Your UK passport will allow you access to DEGIRO for now, but it’s unclear how this will progress once the Temporary Permissions Regime has expired. . If you are a dual-citizen and hold a passport from another EU country, then you can technically use DEGIRO, but you will still need a European bank account. For example, if you also hold citizenship in the Republic of Ireland, you need to fund your account with a bank in the Republic of Ireland.

DEGIRO doesn’t allow you to connect a bank account from:

  • Bulgaria
  • Croatia
  • Cyprus
  • Estonia
  • Latvia
  • Lithuania
  • Malta
  • Romania

Transferring Your Investments to DEGIRO

As with most brokers, there’s no real way to transfer your investments to DEGIRO. If you want to close your current account and open a new one, you’ll need to sell your investments, withdraw, and then fund your DEGIRO account with the minimum deposit via bank transfer.

Customer Service

DEGIRO garners mixed customer service reviews. Some love it, and some say that the service is the worst they ever experienced. Again, DEGIRO doesn’t exist to cater to the whims of its clients. If you want a personal broker, then you need to pay management fees. Its low-cost status may be at the heart of some of the more visceral complaints people leave on its TrustPilot page.

To get in touch with customer service, you’ll need to phone or send an email. They also provide customer service in 18 languages, so there are no worries if you don’t speak Dutch or German.

Unfortunately, DEGIRO doesn’t provide chatbots or internal mail. If you have a very pressing query, you really do need to pick up the phone. They do offer support between 7 AM and 9 PM on weekdays, which would be generous for an ISA platform but is less so for a broker providing access to Asian and Australian financial markets.

Even still, DEGIRO has won awards for its customer service, so it’s clearly doing something right, at least in terms of industry standards

Who is DEGIRO Suitable for?

DEGIRO is a great platform if you understand the fundamentals of investing and your big interest is finding the lowest fees. It’s incredibly cheap, offers more products than the typical investor needs, and you can use the instant transfer to set your account up on the same day.

It can be used as a novice investor and some say it only caters to novice investors. However, there’s nothing stopping experienced investors from trading with DEGIRO as long as you have access to the resources you need elsewhere. Remember that charting is basic and there are no price alerts or stock suggestions. If you’re used to frills, you need to adjust expectations.

Who wins when they trade with DEGIRO? While investment always comes with the risk of losing everything, those who want to trade ETFs are likely to be the big winners, especially if you focus on DEGIRO’s free ETF of the month.

DEGIRO and Brexit

Many DEGIRO users have rightly been concerned about Brexit and the effect this could have on the services offered by DEGIRO. At the time of this DEGIRO review it would appear that the investment platform is still subject to the Temporary Permissions Regime. DEGIRO have the following message in very small print on their website:

‘Deemed authorised and regulated by the Financial Conduct Authority (FCA). The nature and extent of consumer protections may differ from those for firms based in the UK. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.’

Useful Information

Important and helpful information to help you manage your account at DEGIRO.

How to close your account at DEGIRO

To close your DEGIRO account, you need to send an email to clients@degiro.co.uk. It can take a few days for the customer service team to answer you. Once your request is received, they close your DEGIRO account and return any deposits to your nominated bank account via bank transfer.

How to withdraw money from DEGIRO

You can withdraw money from DEGRIO into your bank account from the trading platform, WebTrader. All you need to do is log in and choose ‘Deposit/Withdraw’. Then, you ‘Transfer funds from your investment account to your nominated bank account’.

Unfortunately, there’s no way to deposit or withdraw via your credit or debit card. Everything happens via bank transfer. There are no DEGIRO withdrawal fees to worry about which is great news for investors.

How to contact DEGIRO

If you want to contact DEGIRO, you can contact the Service Desk between 7AM and 9PM. Your options include:

If you have a complaint, then you can email complaints@degiro.co.uk

DEGIRO Summary

DEGIRO is a great offering for investors whose main focus is on finding low cost commission fees although this does have its drawbacks.

One of the main negatives I could find was the lack of tax wrapper in the form of an ISA or SIPP account. Of course this isn’t everyone’s priority and DEGIRO is still considered one of the biggest online, execution only brokers in Europe, largely due to the large array of investment options available.

The other disadvantage to the no frills, low cost offering at DEGIRO is the lack of fundamental research available to investors so they can make informed decisions about whether an asset is over or under-valued.

That being said, DEGIRO have an extensive list of investments on offer and they are regulated by multiple top-tier authorities and therefore still tick a lot of boxes for many investors. However, the uncertainty surrounding where they sit following Brexit may just be enough to tip the balance in favour of another investment platform.

Start today with a €50 transaction credit

And invest worldwide at incredibly low fees.
Financial power to you.

Investing involves a risk of loss. Terms and conditions apply.

DEGIRO FAQs

Is DEGIRO Regulated?

Yes, Degiro is regulated by the Netherlands Authority for the Financial Markets (AFM) as well as the De Nederlandsche Bank (DNB). In the UK Degiro is also authorised and regulated by the Financial Conduct Authority (FCA).

Is DEGIRO any good?

If you’re looking for a low-cost broker and you aren’t concerned with an all-in-one, sophisticated mobile trading platform, then yes, DEGIRO is a good choice. If anything, it offers you the chance to trade a long list of exchanges and choose between as many products, even if it doesn’t provide forex trading.

Is DEGIRO safe to use?

Yes, DEGIRO are considered safe to use as all client funds are kept in segregated accounts with a separate entity and are therefore left untouched in the event that something should happen to DEGIRO. DEGIRO also falls under the German Investor Compensation Scheme, returning up to EUR 20,000 of investor assets.

Is DEGIRO good for beginners?

Yes, the low minimum deposits and low-cost transactions coupled with a user friendly web platform would make DEGIRO suitable for beginners although I did feel that they could offer more in the way of education and customizability as well as price alerts. I would also have liked to see a free demo account.

10 Comments. Leave new

  • Hi , My primary interest is buying shares on the “AIM” market in UK . Is this possible on Degiro ?

    Reply
  • If the new EU/Brexit deal is approved and passed – will UK based citizens still be able to trade with the Degiro still able to buy & sell UK LSE listed companies through the Degiro platform & at the current trading fees?

    Reply
    • Hi David

      This is a great question. Official feedback from Degiro is as follows: Degiro is “Deemed authorised and regulated by the Financial Conduct Authority. The nature and extent of consumer protections may differ from those for firms based in the UK. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website”.

      The FCA explanation can be found here: https://www.fca.org.uk/brexit/temporary-permissions-regime-tpr and the FCA says: “the TPR will allow you to continue operating in the UK within the scope of your current permissions for a limited period after the end of the transition period, while you seek full UK authorisation, if required. The TPR covers both your firm’s pre-existing business and any new business entered into during the TPR”.

      So to summarise, as the UK is such an important market, getting the FCA authorisation for EU firms makes perfect sense and there is a system in place by the FCA to manage the transition.

      Kind Regards
      Peter

      So basically there are temporary measures in place while things get settled down

      Reply
      • Michael Thomas
        28/05/2021 1:27 pm

        Hi Peter
        We are five months on from your last reply here and much Brexit water has passed under the bridge. Can you update us on the status of Degiro UK? My situation is that I am a UK citizen who is a permanent resident of Spain. My UK broker has told me that, due to the failure of the UK and EU to come to an agreement on financial services, they can no longer offer me investment services and are going to terminate my nominee account with them. I am looking at Degiro UK as an alternative. I have been assured by them that, as long as I have a UK bank account (which I do), I can open an account with Degiro UK and transfer my portfolio into it, then continue to trade as normal in this sterling denominated platform. This suits me as all my current stocks are denominated in sterling and quoted on the LSE or AIM.

        Reply
        • Antonia Medlicott
          31/05/2021 7:27 am

          Hi Michael

          This is a great question and you’ve absolutely done the right thing by asking Degiro directly. They are still operating under the temporary regime in the UK and as we can all see in the news coverage, ironing out BREXIT details is very much a work in progress. When I cross reference against the FCA website https://www.fca.org.uk/brexit/temporary-permissions-regime-tpr the TPR is still active and if DEGIRO are happy to take your business and provide the account type that you want then that sounds very positive.

          However as always please note, this isn’t advice

          Reply
  • Dear Peter

    Thanks for your review. Very useful.

    I’ve been using DEGIRO for about 8 weeks now, due to its very low fees, for which I cannot fault it. However, I have maintained my Hargreaves Lansdown (HL) Share Trading Account and I’m glad I did.

    A few issues I’d like to highlight with the DEGIRO platform:
    • Unable to trade in some top UK Stocks e.g. Scottish Mortgage Investment Trust (SMT – FTSE100); Virgin Money UK (VMUK – FTSE250); Edinburgh Worldwide Investment Trust (EWI – FTSE250) for some unknown reason. Can you throw any light on this?
    • Limit Orders: cannot set Sell Orders for greater than 20% of current Sell Price and cannot set Buy Orders for less than 20% of current Buy Price. Of course, in this current volatile market climate, with good news about vaccines, etc. and bad news about lockdowns, etc. coming out unexpectedly, the 20% limit isn’t appropriate i.e. it’s too low. One of my Stockholdings shot up significantly more than 20% on 9th November 2020 and caught me out because I’d set a Sell Order at the 20% limit. I’m sure there were many similar instances for other DEGIRO clients. (These limits are referred to as upper bounds and lower bounds by DEGIRO).
    • When you want to place a manual trade, DEGIRO doesn’t give you the opportunity to accept a Buy or Sell ‘Quote’ Price. Once you click Confirm, the manual order is placed at ‘Market’ Price, so you don’t get an opportunity to review the Price you’re getting. This is especially frustrating with volatile Stocks where the Price fluctuates a lot.
    • When you set a Limit Order to Buy or Sell, DEGIRO invariably gives you exactly the Price you have set. In other words, you never, in my experience, get a slightly better Buy or Sell Price. This is not the case with HL.
    • The ‘Market’ Buy or Sell Prices offered by DEGIRO are often less than advantageous than those offered by HL, for example. In one instance I recall it was significantly so. So much so that even with DEGIRO’s low fees, it would have been better to place the trade with HL with its higher fees.

    I’d love to hear your feedback, Peter.

    Many thanks, Lewis

    Reply
    • Hi Lewis

      First off, thank-you for your kind words. Our first recommendation with any concerns regarding your DEGIRO account is to always speak with customer service first, we have found them to be super helpful and responsive.

      I’ve taken the liberty of investigating your concerns and have the following feedback for you:

      Scottish Mortgage Investment Trust (SMT – FTSE100); Virgin Money UK (VMUK – FTSE250); Edinburgh Worldwide Investment Trust (EWI – FTSE250) For SMT and EWI as the name suggests they are investment trusts and not available as standard, however if you contact support they will endeavour to make it available for you. For Virgin Money UK doing an ISIN search I found the product on the platform.

      Limit Orders: It’s always annoying when a limit order leaves some easy money on the table. The old maxim of “cut your losses and let your wins ride” springs to mind.

      When you want to place a manual trade, DEGIRO doesn’t give you the opportunity to accept a Buy or Sell ‘Quote’ Price. The way market orders work is that when placing a market order it is not possible to view the exact execution price because it is unknown until the order is executed.

      When you set a Limit Order to Buy or Sell, DEGIRO invariably gives you exactly the Price you have set. In other words, you never, in my experience, get a slightly better Buy or Sell Price. . This is incorrect. With DEGIRO, orders go to the exchange and the best price available is always given, regardless of the limit set. This is mandatory by law. It is fairly easy to verify that by placing a limit order with a limit price far above/below the best bid/ask price.

      The ‘Market’ Buy or Sell Prices offered by DEGIRO are often less than advantageous than those offered by HL This is also incorrect, with DEGIRO the best execution price is always given regardless of the order type. Prices are defined by the offer and demand on the exchange, not by DEGIRO.

      Again, thanks for your detailed comment and I hope I have helped shed some light on your concerns during the very turbulent markets swings last week. As I said at the beginning, speaking with the excellent customer support at DEGIRO should alway be your first port of call.

      Reply
  • They started cleaning up their database from “passive” customers by demanding all sorts of private documents that go far beyond the usual financial audit and giving the deadlines that are very tight. Even for customers who used their platform for 5 years, while they made a lot of money on all the fees.

    Furthermore when asked to transfer my portfolio to another broker account, since their demands were simply ridiculous, they asked for several hundreds of Euros for that service. And even then, they didn’t transfer it. Instead the liquidated all my positions even though some the positions were negative and I explicitly warned them to avoid this from happening.

    Reply
    • Hi Ri

      I’ve edited your post slightly to make it more readable.

      All financial trading firms are required to carry out KYC procedures including Proof of Identity, Proof of Address and Source of funds, there is nothing unusual in what DEGIRO have asked you to do.

      Secondly, transferring assets to another platform is a tricky procedure, while some online trading platforms like Interactive Investor can do it, other platforms are unable too so the standard operating procedure is to liquidate all your positions and re-buy the positions on the new platform. Ignoring fees (which some platforms will cover for you) it’s typically quicker than waiting for the asset transfer to take place (which can take weeks).

      Sorry to hear you had a bad experience, but in DEGIROs defence I would argue that everything you have said is pretty normal no matter what platform you use.

      Happy and Safe Investing
      Peter

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

Menu
Ready to Join Degiro?Open an Account