Degiro Broker review
Choosabroker Degiro Broker Review
Discount broker DeGiro serves the European market extremely well. The online brokerage is also a great option for traders who want access to low fees. However, DeGiro also has some downsides which we will detail. Choosabroker reviews the type of traders which this online brokerage is most suitable for.
|DeGiro Broker Review Benefits||DeGiro Broker Drawbacks|
|Attractive brokerage option for a beginner trader with low fees||Poor choice for more advanced traders given the limited analysis tools|
|Traders can access markets which online brokerages typically do not offer such as options and overseas shares||No access to the MetaTrader 4 trading platform|
|Well-designed user interface||Only serves European-based traders|
|Users can access bonds and certain IPO opportunities||There is no access to the forex or cryptocurrency markets|
DeGiro is different from most forex brokers you will find on Choosabroker. Founded in the Netherlands in 2008, DeGiro traders access the markets through a trading platform developed in-house by the DeGiro team. Although DeGiro began as a wholesale broker, the business model changed in 2013 to providing trading services to retail clients.
DeGiro positions itself as a discount broker in the online brokerage market. DeGiro is completely focused on serving the European market which also makes it distinct from most other online brokerages. DeGiro serves more than 450 thousand clients in eighteen European countries including the UK, the Netherlands, and Ireland
The Degiro brokerage was acquired by German online brokerage company Flatex in 2019 for $250 million. This made DeGiro part of a much larger brokerage business that provides B2C and B2B brokerage services to a wide European market.
The DeGiro brokerage is under the watch of the AFM and DNB while also being regulated and authorized by the FCA. While DeGiro serves the European market extremely well, traders residing outside of Europe will not be able to use this online brokerage.
Markets Available to DeGiro Traders
Although DeGiro only serves European clients, those traders do have access to shares in markets which are commonly not offered by online brokerages. In addition to European and North American stock markets, DeGiro customers can trade in overseas stock markets which include Hong Kong, Japan, and Australia.
DeGiro users can access multiple markets. Products available to trade through the online brokerage include shares, ETFs, bonds, CFDs, bonds, options, and futures.
There are upsides and downsides to Degiro’s product offering. Traders can access markets such as options and bonds which are typically not offered by online brokerages. But on the downside, they do not have access to the forex markets which are a popular market provided by online brokers. However, there are ETF products which traders can use to gain exposure to various forex products.
There are more tradeoffs in the financial markets available when choosing DeGiro as a broker. Markets that have been high in demand such as the cryptocurrency markets are unavailable with DeGiro. However, some IPO opportunities are available which are typically not offered to users by online brokerage firms. DeGiro chooses what IPO opportunities are available to their traders on a discretionary basis.
In-House Developed Trading Platform
DeGiro offers a browser-based HTML trading platform allowing traders to access the platform from any device which can connect to the internet. The trading platform was developed in-house which is one of the key ways in which DeGiro differentiates its services.
Although DeGiro’s in-house developed trading platform has a well-designed user interface, its functionality is lacking. The trading platform is well suited for those who are new to the financial markets but more advanced traders who want versatile functionality will be disappointed.
DeGiro users can also access the proprietary trading platform through a mobile app, designed for an optimal mobile trading experience. The DeGiro app is available on both Android and iOS.
DeGiro has partnerships with some financial exchanges facilitating direct market access for their traders. Orders in other markets are processed through STP brokering. Both provide traders with extremely attractive access to markets as they avoid a dealing desk. This means that traders do not have to be concerned that their order will return to them with a requote.
This makes DeGiro an attractive choice for beginning traders, especially when the lower trading fees offered by DeGiro are taken into account. However, when looking for more advanced trading tools, traders will find a better match considering our best trading platform brokers.
Fees That Go To Zero
The fees for DeGiro can go as low as zero on some products. Traders can take positions on a limited number of ETFs for no fees. However, after one ETF trade, users will be subject to a fee.
DeGiro has educational resources available on their websites which range from the basics of trading to guides explain how the financial markets operate. Although they have a vast educational library, DeGiro does not focus on publishing regular market analysis and news developments as other major brokerages do.
DeGiro traders can find customer support from 7 am to 9 pm Monday to Friday. Based on TrustPilot reviews, DeGiro users are mostly happy with the service with the online brokerage scoring a rating above four out of five stars.
Making a Decision on DeGiro
When taking all of the trading services into account, DeGiro is most suitable for beginner traders. The easy-to-use trading platform combined with the discount fees on some trading products makes it the ideal choice for a trader starting out in the financial markets.
For traders seeking regularly updated market analysis published by the broker or a trading platform with a vast selection of trading tools, other brokers will be worth reviewing. The Choosabroker best CFD broker review contains brokers that regularly release high-quality analysis while also having more versatile trading platforms.
Financial traders who want to participate in IPO opportunities or purchase bonds will find such markets available with DeGiro. Traders who wish to access the cryptocurrencies markets will be forced to look elsewhere. For access to the cryptocurrency markets, traders can consider online brokerages eToro, XTB, and easyMarkets. Users will also be able to access social trading opportunities with eToro.
European traders who are relatively new to the financial markets will find a great fit with DeGiro due to the easy-to-use trading platform. Additionally, traders who want to improve their bottom line will benefit from the low fees of DeGiro. Overall, DeGiro is a strong discount broker for beginning traders.
Expert advisors (EAs)
Virtual private server
Direct market access
Major Stock markets (US UK Germany)
Hong Kong stocks
Listed on Stock Exchange
Zero spread account