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DEGIRO was founded by a team that had previously worked together at another online brokerage. The group set out to provide a trading platform that allowed clients to trade easily without incurring sky high fees. The result is a fee structure that is low in comparison to its competitors. However, those low fees come at the expense of in house research. Additionally, the lack of Forex trading is a great shame.
DEGIRO is regulated by the German financial regulator, the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
“Its low cost fee structure is a huge draw for customers who want to trade in a variety of asset classes.”
DEGIRO’s platform has been overhauled this year to offer ratios, results, news, analysts’ recommendations, and much more. Customers can place orders quickly and easily in various types. Additionally, finding shares to trade is quick thanks to a highly effective search tool that even allows clients to search according to asset class. The platform is also available in a wide range of languages so that English does not have to be your defacto language of choice. The software can be accessed through a mobile or through the web. Two factor authentication is an added security feature as an option, which you can enable with Touch ID.
Opening an account with DEGIRO is a painless and seamless process thanks to being fully online. It is quick too with account verification taking around a day and no minimum amount required as the initial deposit. There are many different types of accounts that can be opened with DEGIRO, ranging from basic to a day trader. Day trader is the account which offers the most amount of services which in practice means different types of trades are made available. Clients will need to provide a copy of a government issued ID and bank account details.
Despite a no frills approach to its online trading platform, customers can expect an above average customer support service from DEGIRO. While it can certainly improve, with particular respect to its lack of live chat function, it is a support service available in almost 20 languages. Customers can access the support through phone call or via email, though email response times are known to sometimes be slow.
Without doubt, the most attractive feature of DEGIRO is its low cost fee structure. Plus, while it does not provide the most technologically advanced platform with limited added features, what it does provide is effective and efficient. Clients can trade quickly and easily through the platform, plus they do not require a large deposit at all to start trading through DEGIRO. If you like to read investment research from professionals, this may not be the platform for you, but if you know what you want to trade already - the low commissions fees make this a very attractive prospect.
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Risk Disclosure: Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Before deciding to trade in financial instruments you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Best10Stockbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Best10Stockbrokers and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Best10Stockbrokers and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Best10Stockbrokers may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.