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Overall DEGIRO can be described as an excellent broker with very low fees and several easy-to-use interfaces. DEGIRO is authorized and regulated by FINRA and offers Maximum leverage up to 50:1, 100:1, or 500:1.
DEGIRO at a Glance
🔎 Broker’s Name | DEGIRO |
📍 Headquartered | Amsterdam, Netherlands |
📅 Year Founded | 2008 |
⚖️ Regulating Authorities | Amsterdam, Netherlands |
🌐 Countries not accepted for trade | Canada, North Korea, Syria, South Sudan, US, UK, and Yemen |
☪️ Islamic account (swap-free) | ❌ No |
👍 Demo Account | ❌ No |
🎉 Sign-Up Bonus | ❌ No |
📊 Managed Accounts | Yes |
📈 Maximum Leverage | 50:1, 100:1, or 500:1 |
💰 Minimum Deposit | No minimum prescribed |
💳 Deposit Options | Wire Transfer, Visa, MasterCard, Bank guarantee, BTC, E-Payment |
📈 Total Pairs | 9 |
💻 Platform Types | DEGIRO Mobile. |
📱 OS Compatibility | Windows Phone, Android, iPhone |
📈 Tradable assets offered | · Forex
· Major Indices · CFDs · Precious Metals · Oil · Commodities · CFD Stocks |
👨💼 Languages supported on Website | English only |
👥 Customer Support Languages | English only |
📆 Customer Service Hours | 24 hours per day 5 days per week |
👉 Open a account | 👉 Click Here |
DEGIRO Review – 25 Key Point Quick Overview
- DEGIRO Overview
- DEGIRO Accounts
- DEGIRO Custody account
- DEGIRO Basic Account
- DEGIRO Active Account
- DEGIRO Trader Account
- DEGIRO Day Trader Account
- DEGIRO Islamic Account
- DEGIRO Demo Account
- How to Open a DEGIRO Account – Step-by-Step Guide
- DEGIRO Sign-up Bonus
- DEGIRO Minimum Deposit
- DEGIRO Trading Platforms
- DEGIRO Fees and Spreads
- DEGIRO Deposit and Withdrawals
- DEGIRO Leverage
- DEGIRO Best Countries by Traders
- DEGIRO vs Etoro vs XM Comparison Table
- DEGIRO Current Popularity Trend
- DEGIRO Customer Reviews
- DEGIRO Pro and Cons
- Conclusion
- Disclaimer
- Risk Management
- Frequently Asked Questions
DEGIRO Overview
According to research in South Africa DEGIRO is a broker company founded in 2008 in the Netherlands but only opened to the public in 2013. Their services are now available in 18 European countries.DEGIRO offers a low-cost brokerage platform, with low trading fees and charges, but an advanced trading platform that allows investors and traders access to global stock exchanges, asset classes, and products.
DEGIRO Accounts
A forex account at DEGIRO is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.
Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith. Often, the number and type of accounts that a trader can open with a broker company differ depending on the country in which it operates and the regulatory authorities under whose jurisdiction it falls.DEGIRO offers several account types – Basic, Active, Trader, and Day Trader accounts, but no demo account.
The Basic account is the default and most versatile account that gives access to every feature except for leverage, with no extra fees or limitations like the other accounts. Active, Trade, and Day Trade accounts are similar to Basic except that you have access to leverage, which is different for each account. Trading fees are the same for each.
DEGIRO Custody account
This is an entry-level account that allows users to trade shares, investment funds, bonds, and trackers (ETFs). Custody accounts are available to traders and day traders and come with free real-time prices on the latest Euronext exchanges.
💻 Platform | DEGIRO Mobile. |
🆓 Demo account | ❌ No |
💰 Minimum Deposit | No minimum prescribed |
🎉 Sign-Up Bonus | ❌ No |
📈 Leverage | 50:1, 100:1, or 500:1 |
🚀 Open an Account | 👉 Click Here |
DEGIRO Basic Account
The basic account is the default and most versatile account that gives access to all basic features but does not allow leverage. It has no extra fees or limitations like some of the other accounts.
💻 Platform | DEGIRO Mobile. |
📊 Range of Markets | All Instruments |
💰 Minimum Deposit | No minimum prescribed |
🎉 Sign-Up Bonus | ❌ No |
📈 Leverage | 50:1, 100:1, or 500:1 |
🚀 Open an Account | 👉 Click Here |
DEGIRO Active Account
The Active Account is like the basic account, but traders have access to leverage. Except for mentioning that leverage differs for every type of account, the broker’s website gives no indication of leverage ratios. Trading fees are also the same for the accounts.
💻 Platform | DEGIRO Mobile. |
📊 Range of Markets | All Instruments |
💰 Minimum Deposit | No minimum prescribed |
🎉 Sign-Up Bonus | ❌ No |
📈 Leverage | 50:1, 100:1, or 500:1 |
🚀 Open an Account | 👉 Click Here |
DEGIRO Trader Account
The Trader Account is also like the previously mentioned accounts, with access to leverage, although no indication is given on the website what that leverage is. Trading fees are the same for all accounts.
💻 Platform | DEGIRO Mobile. |
📊 Range of Markets | All Instruments |
💰 Minimum Deposit | No minimum prescribed |
🎉 Sign-Up Bonus | ❌ No |
📈 Leverage | 50:1, 100:1, or 500:1 |
🚀 Open an Account | 👉 Click Here |
DEGIRO Day Trader Account
Leverage can be used on a Day Trader Account, but what ratio is not clear. Trading fees for this account are the same as for the other accounts.
💻 Platform | DEGIRO Mobile. |
📊 Range of Markets | All Instruments |
💰 Minimum Deposit | No minimum prescribed |
🎉 Sign-Up Bonus | ❌ No |
📈 Leverage | 50:1, 100:1, or 500:1 |
🚀 Open an Account | 👉 Click Here |
DEGIRO Islamic Account
Degiro does not offer traders who follow the Sharia law the option of an Islamic Account. Often an Islamic account is provided as an option where traders can convert their live trading account to an Islamic Account, or in other cases, it is a standalone account with a separate application procedure.
DEGIRO Demo Account
Degiro unfortunately does not offer traders the option to open a demo or practice account. A demo account is usually provided as a practice account for beginner traders and for traders who want to evaluate and compare brokers and would like to explore trading conditions in a risk-free environment.
How to Open a DEGIRO Account – Step-by-Step Guide
Opening a DEGIRO account is a simple, straightforward process. As it is completely online, you can open an account from your phone, laptop, or desktop.
Step 1 – Open Your Account
Visit the official website of DEGIRO and click on the “Open Account” link.
Step 2 – Fill in the information
Fill in your email, Username, and Password, and click on Open your Account.
Step 3 – Register for Email
On the next page, you will get a link. Click that link to view the verification email in the provided mailbox.
Click the link you got in your email to continue with the DEGIRO account opening process.
Step 4 – Register
Once your credentials are verified, you can continue to log in using your credentials.
In the next step, you will need to provide all the required personal information.
Verify your identity by providing your citizenship details.
Step 5 – Process Registration
With DEGIRO the process is seamless, fast, and fully digital. To register you need a copy of your passport or ID card and the bank account number from which you will fund the account.
After the initial registration, there are three more steps to complete before your account is activated and ready for trading:
- Complete an appropriateness test.
- Agree to the conditions for real-time prices.
- Transfer money to your investment account.
- n the next step, you will need to provide all the required personal information.
- Verify your identity by providing your citizenship details.
- Upload your identity proof.
- Enter your tax information. Since DEGIRO has an automatic process, just enter your tax residence country and the AHV number.
- Choose the type of account you want to open.
- Read and accept the terms and conditions of DEGIRO.
- Sign the contract sent by DEGIRO via SMS.
- You are done with opening your DEGIRO account.
Step 6 – Finalize
- Now comes the big part: Funding your account.
- Once you fund your account and your account gets approved, you can start trading
DEGIRO Sign-up Bonus
DEGIRO does not offer a sign-up bonus.
Traders who register a real account with DEGIRO are not offered either a sign-up bonus, a deposit bonus, or a welcome bonus. Brokers often offer such a broker bonus to new traders in an effort to draw in more customers in addition to encouraging trading activities. Offering a deposit or welcome bonus is the best way in which to assure traders that they will receive some money back depending on the initial deposit made.
DEGIRO Minimum Deposit
Degiro has no minimum deposit requirement so a trader can open an account with only $0.This minimum deposit amount was equivalent to ZAR 0 at an average current exchange rate between the US Dollar and the South African Rand at the time of writing. Degiro’s authorization as a broker and its regulatory authorities may require that client funds must be kept in segregated accounts, separate from the broker account, and that such funds could only be used by traders to conduct their trading activities.
DEGIRO Trading Platforms
The forex trading platform provided by DEGIRO to its clients is in essence the software to carry out their trades. Some brokers provide only one, and others quite a few platforms. A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.DEGIRO does not provide a desktop trading platform but provides a web platform in a local language as well as a mobile platform that is straightforward to use.
DEGIRO Fees and Spreads
Degiro does not mention specific spreads. Some ETFs can be traded once a month for free (conditions apply), which is perfect for buy-and-hold investors but not ideal for day traders. Since details on the website are not clearly enough stipulated, more information should first be obtained from the customer support service to make an informed choice.
Commissions that traders can expect on the company’s spread list when trading with Degiro is as follows:
DEGIRO charges £1.75 + 0.014% per trade, with a maximum charge of £5.00 for trading individual shares in the UK.
For US markets, the cost is €0.50 + USD 0.004 per share and for European markets, the charges range from €2.00 + 0.118% up to €10.00 + .0168%.
Fees for trading funds range from €7.50 plus 0.10% for exchange-listed investment funds up to €75.00 plus 0.10% for non-exchange-listed investment funds.
DEGIRO Deposit and Withdrawals
Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ.
In the case of DEGIRO, no minimum deposit is required but since March 2020, the company has introduced a waiting list for new accounts.DEGIRO deposits and withdrawals are free of charge via bank transfer and one cannot deposit with a credit or debit card. You can however choose from 9 base currencies, CHF, DKK, GBP, NOK, SEK, EUR, CZK, PLN, and HUF.
A customer can have an additional DEGIRO account in a different currency if he has a bank account in his name in the country of that currency. A bank transfer usually takes 2-3 business days.DEGIRO charges no withdrawal fees but you can withdraw only via bank transfer. DEGIRO promises that the withdrawn amount would be transferred to a bank account in your name within three business days.
DEGIRO Leverage
Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.
Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate to 500:1.
Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin.
For example, on a 1% margin, a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal to or more than 100% to be able to open new trades, otherwise, your trading account will be fully hedged.
DEGIRO does not give an indication of leverage ratios on its website.
DEGIRO Best Countries by Traders
🌎 Country of Trade | 📌 % of Traders |
🥇 Netherlands | 19.64% |
🥈 Spain | 16.80% |
🥉 France | 11.06% |
🥈Germany | 5.88% |
🥇Czech Republic | 12.41% |
DEGIRO vs Etoro vs XM Comparison Table
🔎 Broker | 🥇DEGIRO | 🥈 eToro | 🥉 XM |
💰 Minimum Deposit | No minimum prescribed | $1000 USD | $5 USD |
📝 Sign-Up Bonus | ❌ No | ☑️ Yes | ☑️ Yes |
➖ Min. Spread | does not mention specific spreads | 3 | 1 |
➕ Max. Leverage | 50:1, 100:1, or 500:1 | 1:400 | 1:888 |
💵 Currency Pairs | 9 | 47 | 57 |
🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
DEGIRO Current Popularity Trend
As According to Google Trends, here is an overview of how frequently the search term – “Degiro” is entered into Google’s search engine over a given period of time.
DEGIRO Customer Reviews
Very happy with the platform
Very happy with the platform. Easy to use. Also very cost-friendly.
this broker cares about you
i love this broker it really helps you when you are new in the market and you have to do a test to make an account so you know if you are ready.
en if you want to trade in really tiny companies or oil or gas you have to take other tests.
so the conclusion is that they care about the people who use it and they don’t want them to make stupid decisions.
Good platform – I like it!
So far so good! It is pretty clear and easy to understand. The costs are low. My investigations seem to confirm that the company behind it is stable. I like it.
DEGIRO Pro and Cons
✔️ Pros | ❌ Cons |
Of the lowest fees on the market | Waiting list for new accounts |
Regulated by top-tier regulators | Limited research and education |
Easy to use web and mobile trading platform | No forex trading |
No minimum deposit | No demo account |
Conclusion
DEGIRO can be described as an excellent broker with very low fees and several easy-to-use interfaces.DEGIRO is an excellent choice for European investors with direct access or Smart Order Routing to 30 international exchanges, the second most among brokers reviewed.DEGIRO unfortunately offers very little research beyond basic company information.
Disclaimer
DEGIRO warns potential customers that Forex and CFDs trading always carries a high risk and may not be suitable for all investors.
Before deciding to trade with DEGIRO, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.
DEGIRO warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence DEGIRO cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.
You might also like: Degiro Account Types Overview
You might also like: Degiro Demo Account – Step by Step
You might also like: Degiro Fees and Spreads
You might also like: Degiro Minimum Deposit
You might also like: Degiro Sign up Bonus
Risk Management
Degiro is a Dutch online broker that offers investment opportunities in stocks, bonds, mutual funds, ETFs, and options. The company’s risk management strategies include:
- Portfolio diversification: Encouraging users to spread their investments across multiple assets to reduce risk.
- Stop Loss Orders: A tool that automatically sells security if its price drops to a certain level.
- Margin trading: Allows users to trade with leverage, but also increases potential losses.
- Order Types: Degiro offers several advanced order types, such as limit and stop-limit orders, to help manage risk.
- Investor Education: Degiro provides educational resources to help users understand market dynamics and make informed investment decisions.
- Regular review: Encourages users to regularly review their portfolios and make adjustments as needed to maintain a balance of risk and reward.
Note: It’s important to thoroughly understand the risks involved in investing and seek professional advice if needed.
Frequently Asked Questions
What instruments can I trade with Degiro?
You can trade several instruments with Degiro incl: Shares, ETFs, Bonds, Futures, and Options
Does Degiro do margins?
These brokers give their clients on the Active, Trader, and Day Trader profile types the possibility to buy on margin with their service Debit Money.
Is Degiro a good option for long-term investment?
Yes, if you are an investor from Europe looking for a low-cost brokerage, Degiro certainly is a good investment in the long run.
Does Degiro offer a demo account?
No, unfortunately, there is no demo account option available from this broker.
Does Degiro offer good customer support?
Traders are able to reach customer support in many different languages via good phone support. There is no live chat available and no 24/7 availability.
Featured SA Shares Writer and Forex Analyst.
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