DEGIRO is a popular European broker known for its competitive fees and easy-to-use platform. It caters to both beginners and seasoned investors. This review will guide you through the features of DEGIRO, focusing on its accessibility for beginner traders.
DEGIRO Platforms & Assets
DEGIRO offers a streamlined trading experience with diverse instruments and intuitive platforms.
Trading Instruments
DEGIRO provides a wide range of financial instruments, giving traders plenty of options:
- Stocks: Access to global markets, including the U.S., Europe, and Asia.
- ETFs: Hundreds of exchange-traded funds with some commission-free options.
- Bonds: Invest in government and corporate bonds.
- Options and Futures: Advanced tools for traders exploring derivatives.
- Mutual Funds: Access to selected funds from prominent asset managers.
This variety allows traders to build a diversified portfolio, even with limited experience.
Trading Platforms
DEGIRO’s platform is designed with simplicity in mind:
- Web-Based Platform:
- Clean and intuitive interface.
- Comprehensive tools for placing trades, managing portfolios, and viewing market data.
- Built-in search function to find assets quickly.
- Advanced Tools:
- Real-time price data (for select subscriptions).
- Customizable watchlists and alerts.
The platform is suitable for beginners but includes features that grow with the trader’s skill level.
Mobile App
The DEGIRO mobile app is a powerful tool for trading on the go:
- User-Friendly Interface: Straightforward navigation tailored for mobile screens.
- Order Execution: Place, modify, and track trades seamlessly.
- Portfolio Insights: Keep tabs on your portfolio and watchlists in real-time.
- Secure Access: Two-factor authentication (2FA) ensures account safety.
Available for iOS and Android, the app is highly rated for its reliability and ease of use.
DEGIRO Fees, Commissions & Bonus
DEGIRO is widely known for its low-cost structure, making it appealing to beginners.
Commissions & Fees
DEGIRO offers one of the most competitive pricing structures in the industry:
- Stocks and ETFs:
- U.S. stocks: €0.50 + $0.004 per share.
- European stocks: €2.00 + 0.03%.
- ETFs: Commission-free trading for selected ETFs.
- Options and Futures: €0.75 per contract.
- Account Fees: No inactivity or account maintenance fees.
These transparent and low fees make DEGIRO an excellent choice for cost-conscious traders.
Deposit & Withdrawals
DEGIRO supports simple and efficient funding and withdrawal processes:
- Deposit Methods:
- Bank transfers (primary method).
- No fees for deposits.
- Withdrawal Methods:
- Funds can be withdrawn to your linked bank account.
- Processing Times: Deposits and withdrawals typically process within 1-3 business days.
The straightforward process ensures minimal friction when managing funds.
Bonus & Promotions
DEGIRO does not focus heavily on promotional offers but provides value through low fees and comprehensive services:
- Referral Programs: Occasionally offers incentives for referring new users.
- Educational Benefits: Free access to learning materials and market insights.
While lacking bonuses, DEGIRO’s transparent pricing is its main draw.
DEGIRO Safety & Regulation
DEGIRO places a strong emphasis on security and regulatory compliance, providing peace of mind to its users.
Regulation & Safety
- Regulatory Oversight: DEGIRO is regulated by the Dutch Authority for the Financial Markets (AFM) and operates under European Union guidelines.
- Client Funds Protection: Client funds are held separately from DEGIRO’s assets, ensuring they remain safe even if the company faces financial difficulties.
- Data Security: High-level encryption and two-factor authentication protect user accounts.
These robust measures ensure a secure trading environment for beginners.
Trading Accounts Type
DEGIRO keeps account types straightforward:
- Basic Account: Ideal for beginners with access to a wide range of instruments.
- Active Account: Allows for margin trading with increased limits.
- Trader Account: Advanced features, including leverage and derivatives trading.
- Day Trader Account: Specifically for frequent traders who need real-time data and advanced tools.
This tiered structure enables users to choose an account type that suits their trading style.
Fraud Prevention
DEGIRO takes proactive steps to combat fraud:
- KYC Procedures: Ensures only verified users can access the platform.
- Real-Time Monitoring: Flags suspicious activities for immediate review.
- Secure Transactions: Limits account access to verified bank accounts.
These efforts help maintain a safe trading environment for all users.
DEGIRO Support & Education
DEGIRO supports beginner traders with a range of educational resources and an easy-to-navigate website.
Education Center
The platform offers a wealth of learning materials:
- Guides: Covers trading basics, platform navigation, and investment strategies.
- Webinars: Live sessions on market trends and advanced trading techniques.
- Market Insights: Weekly updates and analysis to help traders stay informed.
These resources make DEGIRO a great platform for beginners eager to expand their knowledge.
Customer Support
DEGIRO provides reliable customer support:
- Channels: Email and phone support during business hours.
- Response Time: Most inquiries are addressed within 24 hours.
- Help Center: Detailed FAQs and troubleshooting guides.
While support is not 24/7, the team is responsive and helpful during operating hours.
DEGIRO Community Feedback
Google Reviews
- Strengths: Users praise the low fees and ease of use.
- Criticisms: Some users mention limited real-time data for basic accounts.
Trustpilot Reviews
- Positive Feedback: Commended for competitive pricing and user-friendly platforms.
- Concerns: Occasional complaints about the lack of live chat support.
Overall, DEGIRO has a solid reputation among its user base.
DEGIRO Pros & Cons
Advantages
- Highly competitive fees and no hidden charges.
- Intuitive platform with excellent mobile app functionality.
- Comprehensive educational resources for beginner traders.
- Strong regulatory compliance and secure trading environment.
Disadvantages
- Limited customer support hours.
- No live chat option for immediate assistance.
- Bank transfers as the only deposit method may inconvenience some users.
Final Thoughts
DEGIRO is an outstanding choice for beginner traders who want to start investing without incurring high costs. Its low fees, user-friendly interface, and strong regulatory framework make it an attractive option. While it may lack some advanced features, DEGIRO’s focus on simplicity and transparency makes it a top pick for newcomers to the trading world.