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Software Comparison » DEGIRO Review

DEGIRO Review 2024: Comprehensive Broker Evaluation & User Feedback

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DEGIRO
Favicon
Rating follows
Account Fee
0,00€
Order Fee National
0,02%
Order Fee International
0,02%
Deposit Protection
100.000,00€
-
T&Cs apply, 18+
DEGIRO
Favicon
Rating follows
  • Options trading available
  • Low-cost options fees
  • Accessible options market
-
T&Cs apply, 18+
DEGIRO
Favicon
Rating follows
Minimum Deposit
0,00€
Contract Fee
2,50€
Deposit Protection
100.000,00€
Demo Account Available
Yes
-
T&Cs apply, 18+
Details

Navigating the intricate world of online trading platforms can be daunting, but DEGIRO shines with its user-centric approach and low-cost fee structure. This DEGIRO review aims to dissect the platform’s offerings, ensuring traders are well-informed before taking the plunge into the global markets.

With over 50 exchanges in 30 countries, DEGIRO offers an expansive reach for investors looking to broaden their portfolios. This review will jump into the nuances of DEGIRO’s services, from its trading usability and mobile app to its regulatory adherence and additional features, providing a comprehensive overview for seasoned traders and newcomers.

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DEGIRO: Pros & Cons
DEGIRO: Pros & Cons
  • Competitive Fees
  • Global Market Access
  • Easy-to-use Platform
  • Advanced Charting Tools
  • No Deposit Fee
  • No Demo Account
  • Limited Research Tools
License
BaFin - Bundesanstalt für Finanzdienstleistungsaufsicht
Company
flatexDEGIRO Bank Dutch Branch
Founded
2013
Website
degiro.de
Available Languages
EN
ES
+
Customer Support
Phone, Email Support
Phone
069 365065457
Overall Rating
Rating follows
  • Usability, Look & Feel
    3.7/5
  • Payment Methods
    3.7/5
  • Customer Service
    3.7/5
Last Updated on April 16, 2024

Trading Usability — Great Modern UX

DEGIRO’s trading usability is exceptionally easy to use, addressing novice and experienced traders. Navigating through the website, I was impressed by the clean and modern interface, which facilitates quick access to essential features without overwhelming users with unnecessary complexity. The platform’s intuitiveness is evident, as I could easily access various trading instruments and account settings.

The lack of a demo account could be a concern for some, but DEGIRO mitigates this with a straightforward design that makes it easy for new traders to get started. The platform’s educational resources are limited compared to what I’ve noted in my Kraken and  Capital.com reviews. Still, the available tools and data are well-organized and provide a solid foundation for making informed decisions.

I noticed that DEGIRO’s platform is devoid of the complexities often associated with trading platforms that try to cater to every type of trader. Instead, it offers a balanced environment that does not intimidate newcomers while providing the depth that more seasoned investors require. This is a delicate balance to strike, and DEGIRO confidently does it.

While conducting this DEGIRO review, it became clear that the platform doesn’t just focus on usability but also on empowering investors. This contrasts the social trading focus in an eToro review or the more specialized offerings highlighted in a VT Markets review. DEGIRO’s commitment to a no-frills, efficient trading experience is its standout feature, ensuring that users can focus on what truly matters: their investment choices.

DEGIRO
3.8/5
DEGIRO ETF
T&Cs apply, 18+
-
DEGIRO Highlights
  • Free monthly ETF trade
  • Low-cost ETF trading
  • Diverse ETF selection

Trading Mobile App — Seamless Trading on the Go

During my review, I found the DEGIRO mobile app to be a robust companion for traders who prefer managing their investments while moving. The app’s sleek and intuitive interface makes it easy for users to navigate through different sections, such as portfolio overview, watchlists, and order management. Its design aligns with the modern aesthetics of the web platform, ensuring a seamless transition between devices.

Functionality-wise, the DEGIRO app covers all the essentials. I could execute trades, view real-time market data and analyze interactive charts. What stood out for me was the app’s attention to security, incorporating features like Touch ID and Face ID, which not only streamline the login process but also provide an additional layer of protection for users’ accounts.

However, I noticed a couple of things that could be improved. The app lacks price alerts, a critical tool for traders responding quickly to market movements. Additionally, the app’s research tools are limited compared to the more comprehensive offerings from other platforms, such as Capital.com and VT Markets.

Despite these drawbacks, the DEGIRO mobile app excels in its core function of providing a straightforward and efficient trading experience. While it might not have the social trading flair of eToro or the cryptocurrency depth of Kraken, it delivers on its promise of accessibility and low-cost trading for traditional investment vehicles. Overall, the DEGIRO app is a reliable and easy-to-use option for traders who value convenience and simplicity in their mobile trading experience.

Trading Bank Accounts — Simplifying Monetary Transactions

Integrating bank accounts is a straightforward and secure process. Linking a bank account is a critical step in the setup process, and DEGIRO has simplified this by allowing transfers directly from a registered bank account to the trading account. The types of accounts supported include checking and savings accounts from recognized banking institutions, ensuring that most traders can easily connect their primary monetary resources to their DEGIRO accounts.

I appreciated the platform’s emphasis on security, which is evident in the requirement that the name on the bank account must match the name on the DEGIRO account. This prevents potential fraud and reassures traders that their funds are handled with the utmost care. Transfer times are reasonable, typically taking two to four business days, which is on par with the industry’s top players, such as Capital.com and VT Markets.

One limitation I noticed, however, is that DEGIRO does not support instant deposits or withdrawals, nor does it accept transfers from e-wallets like PayPal — a feature that I’ve seen highlighted in some Kraken reviews. While this might be a minor inconvenience for some, the upside is that it avoids the fees often associated with third-party payment services.

Integrating bank accounts with DEGIRO’s trading platform improves the trading experience by providing a seamless monetary transaction process. It eliminates intermediary transfers, allowing traders to manage their investments and capital flow directly within the platform. This efficient and secure integration aligns with DEGIRO’s commitment to providing a no-nonsense trading environment. Overall, DEGIRO’s bank account integration is a solid feature that supports its easy-to-use and cost-effective trading ethos.

Trading Platform — Seamless Trading on the Go

In my review of DEGIRO’s trading platform, I experienced a seamless integration of functionality and ease of use that truly stands out in the marketplace. The platform is designed with the end-user in mind, ensuring that all traders can navigate and utilize the tools available with relative ease. The interface is clean and uncluttered, which boosts the trading experience by allowing for quick, intuitive actions without the distraction of overly complex features.

One of DEGIRO’s unique features is its in-house developed platform, which allows for continuous improvements and updates. This responsiveness to user feedback is a significant advantage, as it ensures the platform evolves to meet its clients’ changing needs and preferences. The availability of real-time data and interactive charts aids in making informed decisions. However, I noticed the platform might benefit from a broader range of analytical tools for in-depth technical analysis, something I’ve seen offered on platforms like Capital.com and VT Markets.

While DEGIRO does not support popular third-party platforms like MetaTrader 4 or MetaTrader 5, it compensates with a robust, reliable, straightforward proprietary platform. This may limit those accustomed to MetaTrader platforms’ extensive tools and automated trading strategies. Still, for traders who prioritize direct market access and low fees, DEGIRO’s platform is more than sufficient.

The mobile app version of the platform maintains the same user-friendliness as the web version, ensuring that trading on the go is as efficient as desktop trading. While conducting this DEGIRO review, I appreciated the app’s security features like Touch or Face ID and two-factor authentication, which provide peace of mind in an increasingly mobile-centric trading environment.

Compared to eToro or Kraken platforms, where social and cryptocurrency trading is highlighted, DEGIRO focuses on traditional investment options with a straightforward, cost-effective trading platform. Although the platform may have limitations regarding social trading features and the range of analytical tools, its simplicity, low-cost structure and global market access make it a compelling choice for investors who value these characteristics in their trading quest.

Trading Regulation & Deposit Insurance — Ensuring Trader Security

DEGIRO’s regulatory framework significantly emphasizes adhering to stringent regulatory standards, which is a cornerstone of its reliability. DEGIRO operates as the Dutch branch of flatexDEGIRO Bank AG and is supervised by the German Federal Financial Supervisory Authority (BaFin) and the Dutch authorities DNB and AFM. This dual oversight ensures that DEGIRO maintains high compliance with European financial regulations, instilling user confidence.

What particularly caught my attention was DEGIRO’s commitment to safeguarding trader funds. The platform employs segregated accounts to protect client assets from being claimed by creditors in the unlikely event of DEGIRO’s insolvency. This segregation is a critical safety measure that I have also noted during my Capital.com and VT Markets reviews.

Furthermore, the significance of deposit insurance regarding trader confidence and security cannot be overstated. DEGIRO’s investor protection scheme aligns with the best practices in the industry, offering coverage up to €20,000 for financial assets. The German Deposit Guarantee Scheme also protects funds not invested up to €100,000. These insurance mechanisms are comparable to the protections I have highlighted in my eToro review and Kraken review, reinforcing DEGIRO’s position as a trustworthy platform.

These factors collectively contribute to DEGIRO’s reputation as a reliable and secure trading platform. The comprehensive regulatory oversight, effective safety measures and deposit insurance give traders the assurance they need to invest with peace of mind. In my experience, DEGIRO’s transparent approach to regulation and client protection is a testament to their dedication to upholding the highest standards of trader security.

BaFin - Bundesanstalt für Finanzdienstleistungsaufsicht
FCA - Financial Conduct Authority
AFM - Authority for the Financial Markets (Netherlands)

Trading Additional Features — Improving Your Trading Experience

While exploring DEGIRO’s platform, I experienced additional features distinguishing it from the standard trading functionalities typically found on other platforms. While DEGIRO doesn’t offer social trading options like eToro, it does provide advanced charting tools addressing the needs of technical traders. These robust and easy-to-use tools allow for detailed analysis of market trends and potential investment opportunities.

I noticed that DEGIRO strongly emphasizes investor education, which is a critical aspect for both new and experienced traders. DEGIRO offers a selection of guides and articles that help users understand the basics of investing and how to use the platform effectively. This focus on education is essential for empowering users to make informed trading decisions.

One of the standout features I found was DEGIRO’s global reach in terms of market access. Traders looking to widen their portfolio can benefit from the platform’s access to over 50 exchanges across more than 30 countries. This level of access is quite impressive and is a significant advantage for those looking to invest internationally.

Another noteworthy feature is DEGIRO’s fee transparency. Unlike some brokers with hidden costs, DEGIRO’s fee structure is straightforward and easily accessible, ensuring traders are fully aware of the costs associated with their transactions. This transparency is refreshing and helps build trust with the user base.

In a nutshell, DEGIRO may not have the copy trading features of a social trading giant like eToro or the cryptocurrency options of Kraken. Yet, it offers a solid set of tools and features that make it a versatile and easy-to-use platform for traders looking to invest in a wide range of traditional financial instruments.

FAQ: DEGIRO

🔍 How does DEGIRO ensure the security of my investments?

I found that DEGIRO takes the security of your investments seriously by employing segregated accounts to protect your assets. This means that your assets are inaccessible to creditors in the unlikely event of DEGIRO facing financial difficulties. Additionally, DEGIRO is regulated by top-tier financial authorities like BaFin and AFM, providing an extra layer of security and trustworthiness to your trading experience.

🌐 Can I access international markets with DEGIRO?

Absolutely. I experienced DEGIRO’s extensive global reach firsthand, as it provides access to over 50 exchanges across more than 30 countries. This allows you to diversify your portfolio by investing in various markets and asset classes, which is a significant advantage over some platforms with more limited market access.

💰 Are there any hidden fees with DEGIRO?

One of the most refreshing aspects I noticed during my DEGIRO review is the platform’s transparent fee structure. DEGIRO is very open about the costs associated with trading, and there are no hidden fees to worry about. This transparency ensures that you can manage your investments without any unexpected charges, starkly contrasting to some brokers where hidden fees can catch you by surprise.

📱 Is the DEGIRO mobile app easy to use for beginners?

The DEGIRO mobile app is designed to be intuitive and easy to use, making it ideal for both beginners and experienced traders. During my review, I found that the app provides a seamless trading experience on the go, with essential features such as secure login, real-time quotes, and portfolio management. It may lack some advanced features, but its ease of use is undeniable.

📈 Does DEGIRO offer educational resources for new traders?

While DEGIRO may not have as extensive a collection of educational resources as some platforms I’ve seen in Capital.com or eToro reviews, it offers guides and articles to help you understand the basics of investing and how to navigate the platform. This focus on education is crucial for empowering you to make informed decisions in your trading quest.

My Verdict — DEGIRO: A Standout Platform for Cost-Efficient Trading

I’ve been thoroughly impressed by the platform’s dedication to providing a streamlined and cost-effective trading experience. I found DEGIRO’s interface refreshingly straightforward, which, coupled with its competitive fees, positions it as an excellent choice for new and seasoned investors.

Throughout my exploration, I noticed that DEGIRO’s platform is manageable with excessive bells and whistles, which often complicate the trading process in other platforms. Instead, it focuses on essential tools and functionalities that boost trading efficiency. This approach resonates with me, allowing traders to focus on the core aspects of their investment strategies without unnecessary distractions.

Comparing my experiences with other platforms, it’s clear that DEGIRO has a unique value proposition. It may not have the social trading features of eToro or the cryptocurrency options of Kraken, but it excels in offering traditional monetary instruments and international market access.

The absence of a demo account is a minor drawback, but DEGIRO makes up for it with its intuitive platform and transparent fee structure. The mobile app’s functionality ensures that trading on the go is as seamless as using the web platform, which is a significant plus for traders who value flexibility and convenience.

Ultimately, DEGIRO delivers where it matters most: cost-efficiency, ease of use and a secure trading environment. Its regulatory adherence and deposit insurance provide peace of mind, making it a trustworthy choice for those looking to navigate the complexities of the financial markets. My DEGIRO review experience has been overwhelmingly positive, and I can confidently recommend this platform to traders seeking a reliable and straightforward trading partner.

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