DEGIRO is a Dutch investment platform that allows trading on global stock exchanges. The company is not a CFD broker and does not offer forex trading, but leveraged products can be found on it, including ETFs, futures, and options. However, the platform may be a good choice for trading stocks, with a wide selection of companies listed on over 50 exchanges in 30 countries. DEGIRO’s Asian offering includes Japanese, Singaporean, and Chinese stocks from Hong Kong.
Table of content:
- DEGIRO Offer
- Deposits and withdrawals
- Fees
- Lower tax (W-8BEN)
- Demo account
- DEGIRO Platform
- Users reviews
- FAQ
DEGIRO was founded in the Netherlands in 2008. In early 2021, the company merged with flatexDEGIRO Bank AG and is now the largest online broker with a banking license in Europe. The platform has 2 million customers.
The platform supports 9 currencies (including EUR, PLN, and GBP) and is available in 15 languages. DEGIRO is supervised by the Dutch Authority for the Financial Markets (AFM) and the prudential supervision of De Nederlandsche Bank (DNB). It is also registered with the Financial Conduct Authority (FCA).
DEGIRO broker and its trading offer
DEGIRO offers access to over 50 exchanges from 30 countries, allowing its clients to invest in stocks, futures contracts, ETFs, and instruments related to the digital assets market.
Stocks in DEGIRO
The platform provides access to stocks from a vast number of exchanges, making it one of the broadest offers available on the market. Among the available exchanges, we can find, among others: Euronext, Xetra, London Stock Exchange, NASDAQ, NYSE, NYSE MKT (AMEX), NYSE Arca, Currenex, and the largest exchanges from the Asian market.
Investment fees vary from market to market. The full list of available stock instruments can be found here.
ETFs on DEGIRO
DEGIRO also offers access to one of the widest ranges of ETFs. The platform offers ETFs from most European stock exchanges as well as from the Hong Kong and Singapore stock exchanges.
The full list of available exchanges and markets includes: Euronext Amsterdam, Euronext Brussel, Euronext Paris, Xetra, Börse Frankfurt, Tradegate, London Stock Exchange, Vienna Stock Exchange, SIX Swiss Exchange, Bolsa de Madrid, OMX Helsinki, Athens Stock Exchange, Euronext Dublin, Borsa Italiana S.p.A., Oslo Stock Exchange, Warsaw Stock Exchange, Euronext Lisbon, OMX Stockholm, Hong Kong Stock Exchange, and Singapore Exchange.
The ETF offer is subject to the “Fair Use” policy. This means that the first executed order is free of transaction costs and third-party costs, regardless of size or direction, provided it does not result in a short position.
Cryptocurrencies in DEGIRO
Direct purchase of cryptocurrencies is not possible on DEGIRO, however, it is possible to invest indirectly through trackers such as ETFs and ETNs. Investing in cryptocurrency trackers carries a high risk and the broker advises investors to only invest in financial products that match their knowledge and experience.
Among the Bitcoin price-tracking indices are: CoinShares Physical Bitcoin, WisdomTree Bitcoin, and 21Shares Bitcoin ETP.
In addition, contracts issued by 21Shares on Cardano, Ethereum, Polkadot, Ripple, and Solana are also available.
Bonds, Options, and Futures on DEGIRO
The platform also offers access to bonds from European exchanges, options (Europe and USA), and futures contracts (Europe and USA).
In addition, DEGIRO also allows investing in investment funds such as:
- Aberdeen Standard
- BNP Paribas
- BlackRock
- Fidelity
- Goldman Sachs
- Kempen
- NN (formerly ING Investment Funds)
- Actiam
Forex Offer on DEGIRO
DEGIRO does not offer trading in forex instruments or any other contracts for difference. The broker’s offering only includes real underlying instruments from the largest exchanges worldwide.
Deposits and withdrawals
A deposit to the trading account can be made via bank transfer to the DEGIRO account directly from the user’s registered account on the platform (and only from that account). Detailed information on deposits can be found by clicking the “Deposit/Withdraw” button located in the top right corner of the investment platform. In the mobile app, this section is available in the top left corner of the menu under the “Deposit/Withdraw” button.
A regular bank transfer can take 2-3 business days to appear in the DEGIRO account. DEGIRO does not provide fast transfer services, but the platform offers the option to use Trustly as an intermediary. In this case, there is an additional fee of 1 EUR. Deposits over 1000 EUR may be credited within one business day.
As for withdrawals, they can be made from the same section (Deposit/Withdraw) to the linked bank account. It takes 3 to 5 days.
The company does not charge its clients additional fees for deposit or withdrawal requests.
Fees and commissions at DEGIRO
Fees for individual instruments have been described in the sections above and are available on the website here. As for other costs, DEGIRO does not charge, for example, fees for inactivity or for maintaining positions. However, it charges a commission of 0.25% for currency exchange.
Lower tax on investments in US companies (W-8BEN)
DEGIRO allows for obtaining a lower (15%) withholding tax rate on dividends from US companies. The standard rate is 30%. To do this, you need to fill out the ‘W-8BEN/W-8BENE’ form, which is available on the platform.
The reduced tax rate applies to a selected list of products available on the so-called “green list”. Almost all US products are listed on this list, with a few exceptions. Additionally, on the page with information about a specific product, there is information whether this applies to the selected product.
Demo account and real account
Opening an account with DEGIRO is extremely easy and only requires an email address, username, and password. However, the company does not offer free demo accounts.
This decision is explained by the fact that opening a real account is completely free and anyone can familiarize themselves with the platform before deciding to start trading. After registering, the user is asked to provide more detailed information, including verification through a phone number. This is necessary to access the trading platform.
DEGIRO Platform
The DEGIRO trading platform is available in a web version, accessed through an internet browser, as well as in the form of a mobile application. It is adapted to every type of investor, and its appearance will differ depending on whether you are classified as a beginner, experienced, or expert investor.
DEGIRO Platform (source: degiro.com)
Customer reviews of DEGIRO
On the Trustpilot website, DEGIRO.co.uk received a rating of 4.2 out of 5 stars. Customers appreciate the support, low fees, and a large number of options for building a passive portfolio.
The mobile application for Android devices received a rating of 4.2 out of 5 stars from 13,7 thousand reviewers. It has been downloaded to mobile devices over 1 million times. In the Apple App Store, the same application received a rating of 4.4 out of 5 stars in over 300 reviews.
DEGIRO FAQ
Is DEGIRO safe and operating legally?
Yes, the DEGIRO platform is subject to the supervision of the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in Germany and the AFM in the Netherlands. In addition, the platform has an Investor Protection Program that covers losses from unrecovered assets up to 90% (with a maximum amount of 20,000 EUR).
What can you invest in on DEGIRO?
DEGIRO offers access to instruments such as stocks, ETFs, futures contracts, bonds, and options.
Is there a fee for a DEGIRO account?
No, maintaining an account is free. There are only fees/commissions related to executed transactions and currency conversion of funds.
Does DEGIRO offer a demo account?
You cannot trade on demo accounts in DEGIRO, but you can open a free real account and check how the platform works.
Can you trade Forex on DEGIRO?
DEGIRO is not an FX/CFD broker, so it does not offer typical trading on currency pairs. However, the futures contract offer includes several instruments related to currencies.
Does DEGIRO offer cryptocurrencies?
You cannot directly purchase cryptocurrencies on DEGIRO, but you can invest in exchange-traded derivative instruments based on cryptocurrency prices or entire baskets of cryptocurrencies. These include futures contracts, ETFs, and options.
How to deposit funds into a DEGIRO account?
You can deposit funds into your DEGIRO account via bank transfer from a registered bank account. The processing time for such a transfer is usually 2-3 business days, and the company does not charge additional fees for deposits.
Can you transfer your portfolio from DEGIRO to another brokerage firm?
Yes, you can transfer your portfolio or a part of it. To transfer, you need to complete the appropriate transfer application and send it to the email address [email protected].
Is DEGIRO a regulated platform?
Yes, DEGIRO is regulated by respected institutions in Europe and the UK. It has more than 2 million customers using its services.
