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DEGIRO Review

  • Services Offered
  • User Interface and Experience
  • Fees and Commissions
  • Customer Support
  • Security Measures
4.2/5Overall Score
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Quick Summary

DEGIRO integrates a fortress of security measures for the safeguarding of user data and assets. They prioritize asset protection and employ robust IT security protocols, including two-factor authentication and SSL encryption. Operating under a German banking license, DEGIRO adheres to strict regulatory oversight from prominent Dutch financial authorities. Despite the absence of specific security certifications mentioned, their commitment to safety is evident in their comprehensive approach to risk management and regulatory compliance.

Specs
  • Regulatory Status: BaFin (Germany) Authority for Financial Markets (Netherlands) Dutch Central Bank (prudential supervision)
  • Trading Offerings: Stocks, ETFs, Options, Futures, Bonds, Warrants, Leveraged Products, Cryptocurrencies
  • Trading Platforms:: Desktop platform, Mobile app (iOS and Android)
  • Unique Features: Access to over 50 global exchanges across 30 countries, Low-cost trading and commission-free trading on selected ETFs, User-friendly and intuitive trading platforms suitable for beginners and experienced traders
Pros
  • Low Trading Fees
  • Wide Range of Investment Options and Account Types
  • User-Friendly Interface
  • Transparent Fee Disclosure
  • Educational Resources
Cons
  • Limited Advanced Trading Features
  • Lack of Mutual Funds
  • Cryptocurrency Trading Fees
  • No Demo Account
  • Limited Research Tools
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Review of Services Offered by DEGIRO

When it comes to trading platforms, the range and quality of services offered can be a game-changer for many investors. DEGIRO, a reputable brokerage platform, offers a plethora of services catering to a wide spectrum of investors, from novices to seasoned traders. Let’s delve into the myriad services provided by DEGIRO, highlighting some unique offerings that set it apart from other brokers in the sector.

Core Trading Offerings

DEGIRO’s primary allure lies in its diverse trading offerings. Investors can trade a wide variety of assets including shares, Exchange Traded Notes (ETNs), options, and futures contracts on many US and European exchanges, with the addition of stocks listed on major exchanges like Tokyo and Australia​​. The platform extends its trading services to various securities like stocks, funds, ETFs, options, warrants, bonds, and futures, embracing global markets and providing a platform for investment in many securities from different regions​​.

Unique Cost Structure

One of DEGIRO’s hallmark features is its cost-effectiveness. Known for its low trading fees, it offers inexpensive stock trading and has a wide selection of ETFs, making it a favorable choice for long-term investors​​. Additionally, DEGIRO has a core selection of over 200 ETFs which do not incur any commission, a feature that distinctly positions it in a competitive market. The fee structure varies depending on the location of the exchange; for instance, while trading US stocks is free, London Stocks have a £1.75 commission​​.

Educational Resources

For those new to the trading arena, DEGIRO provides an Investor Academy. Although limited compared to some competitors, the academy comprises articles and YouTube videos covering fundamental concepts for successful trading. Topics include financial products, order types, risk spreading, fundamental and technical analysis, and indicators. Moreover, DEGIRO maintains a blog to keep investors updated on financial market news and insights​​.

Customer Support

DEGIRO facilitates customer support via email or phone, albeit without a 24/7 availability. They also host a detailed FAQ section to address common challenges faced by traders, and maintain active profiles on multiple social media platforms like Facebook, LinkedIn, and Twitter for additional customer engagement​​.

Additional Services

Beyond conventional trading services, DEGIRO offers an Affiliate Program allowing individuals to earn commissions through referrals. They also provide a margin service called Debit Money for specific account profiles, enabling traders to invest beyond their initial deposit based on certain criteria​​.

A Global Trading Platform

DEGIRO stands as a global trading platform offering Investment Fund trading, Share Dealing trading, ETF trading, Bonds trading, Futures trading, Warrants trading, Options, and Leveraged Products trading. However, it steers clear from offering CFD Trading, setting a clear delineation in its service offerings compared to some competitors​​.

DEGIRO’s Digital Interface: A User-Centric Experience

In the realm of online trading, a platform’s user interface (UI) and overall user experience (UX) play pivotal roles in ensuring user satisfaction and engagement. DEGIRO, a renowned brokerage platform, has placed a significant emphasis on creating a user-friendly and intuitive digital interface. Let’s delve into the facets of DEGIRO’s UI and UX that contribute to a seamless trading journey for its users.

Simplistic and Intuitive Design

DEGIRO’s platform is often lauded for its user-friendly and intuitive interface, featuring a minimalist and modern design​​. The simple design ethos extends to its mobile app as well, ensuring a coherent user experience whether on a desktop or a mobile device​​. The straightforward design makes DEGIRO a suitable choice for beginners and seasoned traders alike, simplifying the trading process and making navigation a breeze​.

Dashboard: Your Trading Hub

Central to DEGIRO’s user interface is the dashboard, which provides a quick overview of a user’s portfolio, including the current value and performance of their investments. From here, users can easily access various trading tools such as advanced charting, different order types, and market data, which are designed to aid in making informed investment decisions​​.

Mobile Accessibility

The DEGIRO mobile app mirrors the desktop platform in terms of design and functionality, making it easy for users to switch between devices. The app’s interface is simple with a dropdown menu and four easy-to-navigate tabs: Dashboard, Portfolio, Favourites, and Transfer sections, where users carry out their trading activities​​. This mobile accessibility ensures that users can manage their investments on-the-go, a feature that modern-day traders find incredibly beneficial.

Educational Resources

Beyond trading, DEGIRO offers a range of educational resources accessible through its platform. This includes articles, videos, webinars, and courses aimed at helping users learn about investing and trading. The educational content is not only beneficial for novice traders but also provides insights for experienced traders looking to hone their skills.

Learning Environment

For those keen on learning, DEGIRO provides a risk-free learning environment allowing users to familiarize themselves with different asset classes, trading strategies, and the platform’s user interface. This hands-on experience is crucial in building a user’s trading competence and confidence​​.

Constructive Feedback

Some users have suggested minor improvements, such as a more user-friendly interface and enhanced portfolio performance displays, indicating that there’s always room for refinements to meet the diverse needs of the trading community​​.

Navigating DEGIRO’s Fee Structure: A Comparative Analysis

Trading involves not only the potential for profit but also costs, which can eat into your gains significantly. One of the considerations when selecting a trading platform is its fee structure. In this segment, we’ll delve into DEGIRO’s fee structure, offering a comparison with industry averages to provide a perspective on its affordability.

Stock Trading Fees

DEGIRO is known for having relatively low fees for stock trading. The fee structure for stocks varies depending on the specific stock exchange:

  • For US and Canadian Stocks: Commission-free, but a handling fee of €1 per trade is applicable​​.
  • For UK Stocks: £1.75 + 0.014% per trade, capped at £5.00​​.
  • For European Markets: The charges range from €2.00 + 0.118% up to €10.00 + .0168%​.
Bond Trading Fees

For a €10,000 German government bond trade: €3 ($3.2), which is broken down into a €2.00 fee plus a €1 handling fee​​.

Fund Fees

DEGIRO charges both flat and volume-based fees for fund transactions:

  • For a $2,000 US domiciled fund trade: €3.9 and 0.2% annual administration fee​​.
  • For a $2,000 face value European stock fund: 0.1% + €7.5 and 0.2% yearly administration fee​​.
Options Fees

The fees for trading options are also on the lower side – for US stock index options (10 contracts): $0.75 per contract​​.

Margin Rates

Margin rates at DEGIRO are competitive when compared to other brokers, with a rate of 5.9% as opposed to the industry average of 6.0%​​.

Comparative Analysis

Across multiple fee categories, DEGIRO stands as a cost-effective option:

  • DEGIRO’s commission for a $10,000 government bond trade in the EU is noted to be lower compared to other brokers​​.
  • It’s highlighted that DEGIRO’s fees and commissions are considerably lower than its competitors, making it an attractive choice for traders looking to minimize costs​​.

DEGIRO’s Customer Support: A Comprehensive Look

When it comes to online trading, having reliable customer support is indispensable. Traders often encounter situations where they need assistance, and having a responsive and knowledgeable support team can significantly enhance the trading experience. DEGIRO, being a prominent player in the online brokerage arena, offers a variety of customer support channels. Here’s a detailed evaluation of DEGIRO’s customer support services, focusing on response time, the knowledge of support staff, and availability across different communication channels.

Multi-Channel Support

DEGIRO provides customer support through various channels including email, phone, and online chat, catering to the different preferences of its clientele​​.

  • Email Support:
    • Customers can reach out via email with their queries or issues.
    • The typical response time is within one business day.
    • Support is available in several languages including English, Dutch, German, French, and Spanish.
  • Phone Support:
    • For those who prefer direct communication, phone support is available during regular business hours in the Netherlands.
    • Multilingual support is offered, with phone numbers provided on DEGIRO’s website for different countries.
  • Online Chat:
    • An online chat function is also available during regular business hours in the Netherlands for real-time assistance.
    • This feature is convenient for customers who prefer texting over voicing.
Availability and Timings

DEGIRO’s customer service is accessible via email 24/7, and via telephone from 7 a.m. to 9 p.m. Central European Time (CET)​​.

Response Efficiency

Some users have reported inconsistencies with response times, indicating occasional delays in getting responses​. However, DEGIRO’s customer support is generally rated good, with an overall rating of 7.9 out of 10 based on some evaluations​​.

Global Reach

DEGIRO’s phone service extends across 18 countries, providing a broader reach for international clientele​​.

Additional Resources

Besides direct support, DEGIRO houses an extensive help center on its website, providing a wealth of articles and guides on account management, trading, investing, and technical support for both the website and app​​.

Ensuring Safety: DEGIRO’s Security Measures

When it comes to online trading, ensuring the safety and security of both personal information and funds is paramount. DEGIRO, a notable online broker, has integrated several security measures to safeguard its users’ assets and data. This article delves into the various security measures employed by DEGIRO and any certifications or recognitions they have received for their security practices.

Core Security Measures
  • Asset Protection: DEGIRO has put in place several measures to ensure the protection of customer assets. The core principle is to keep clients’ funds and investments secure at all times​​.
  • IT Security Measures: A wide range of IT security measures are in place to ensure the integrity and confidentiality of user data. These measures help in safeguarding against unauthorized access and other potential security threats​​.
  • Regulatory Compliance: Operating under a German banking license, DEGIRO adheres to strict regulatory requirements. Additionally, it falls under the supervision of the Netherlands Authority for the Financial Markets and the Dutch Central Bank, ensuring compliance with financial regulations and standards​​.
  • Enhanced Security Protocols: DEGIRO has enhanced its security and compliance measures by implementing two-factor authentication (2FA) and SSL encryption. These measures are crucial for ensuring a secure login process and encrypted communication between the user and the platform. Moreover, DEGIRO has strengthened its risk management procedures to address and mitigate potential risks​​.
Additional Security Features
  • Temporary Waiting List: In the face of high market volatility and increased user registrations, DEGIRO introduced a temporary waiting list for new user registrations on March 25, 2020. This measure helps in managing the platform’s user base and ensuring a stable and secure trading environment​​.
Certifications and Recognitions

While there isn’t specific information on certifications or recognitions, the regulatory compliance and adherence to financial standards underscore DEGIRO’s commitment to security.

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