If you're into investing, you have probably heard about Degiro. It is one of the popular investment platforms and brokers. Thus, you probably have heard about it as you go on researching for the best ones. As you go on further, you may want to learn more about it. If so, read on.
If you want to consider this firm for your investments, Degiro can be an excellent choice for you. However, you may want to learn more about it.
In this article, we'll cover an in-depth take on Degiro. This way, you can grasp and see if this company suits your investing goals and preferences.
Without further ado, let's get into it!
What is Degiro?
DEGIRO is a European brokerage company based in Amsterdam. It started operating in 2008 by a group of five former employees of Binck Bank.
In 2013, the firm started offering its stock brokerage services to retail investors. It provides online access to security exchanges worldwide.
On the platform, you can buy and sell securities. Among these are common and preferred stocks, fixed income (bonds), options, mutual funds, warrants, and ETFs. You can also do so via an electronic trading platform or by phone.
What can you buy with Degiro?
XTB has a variety of products to offer under its pool. If you're a beginner investor, you may get these investment products in the firm:
- Investment Funds
- Leveraged Products
If you're interested in ETFs, Degiro has fantastic offers you can consider. Here's how you can buy ETFs on the firm.
How to buy ETFs on Degiro?
If you plan on buying ETFs on Degiro, you can follow these steps.
1. Start by choosing your ETF choice.
If I may suggest, the Vanguard FTSE All-World is one of Degiro’s commission-free ETFs.
Make sure you get our Vanguard FTSE All-World ETF on the Euronext Amsterdam Exchange (EAM). It is the exchange mentioned on the commission-free ETF list.
2. Click on the green buy button to continue with your purchase.
It will take you to the page where you can place your order. In it, you can also choose between limit or market order.
3. Click on the Place Order button.
Once you confirm the details on the next window, you're good to go.
Is Degiro a good broker?
Degiro is one of the best discount brokers and best brokers for stock trading for 2021.
Thus, if you are looking for a low-cost way to trade stocks, this firm can be a great option.
Their trading platform is basic but efficient and straightforward to use.
Is Degiro good for beginners?
Yes, Degiro is an excellent platform for beginners. It offers a low-cost way to trade stocks and provides easy usage benefits for newbies.
Degiro is also relatively stable and has low fees. The website and mobile app are ok and easy to use. It may not be as intuitive as other platforms, but it performs well.
Is Degiro a discount broker?
Degiro is a Dutch online discount broker. A discount brokerage is a business that allows clients to buy and sell securities. However, it does not provide advice, research, planning, or other investment services.
Those who use discount brokerages have little to no interaction with a real broker. Thus, discount brokerages charge lower fees.
How much money do you need to open a Degiro brokerage account?
Degiro doesn't charge you for opening an account. However, you will need to have an EU/Norwegian/Swiss bank account in your name. The details should be registered to your DEGIRO account.
Further, you must make all transfers only from and to the bank account registered with DEGIRO and matches your name.
Does Degiro have hidden fees?
Degiro charges 0.25% of the entire portfolio value or 2.5 EUR per stock exchange you own stock in.
Further, you could see 2.5 EUR per month is charged if you want real-time updates. It can be a downside since some stock exchanges have free real-time updates.
How does Degiro make money?
Degiro has custody fees, which they call a service fee. It depends on the value of the investment fund portfolio on the last day of the month.
How to withdraw money from Degiro?
If you want to withdraw money from Degiro, you can do the following steps.
Simply log in to the WebTrader and click the 'Deposit/Withdraw Funds' button. Afterward, select 'Transfer funds from your investment account to your nominated bank account.’
State the amount you would like to transfer, and then you're good to go.
Who owns Degiro?
Flatex AG owns Degiro. In December 2019, a German online broker named Flatex AG announced that it acquired 100% of Degiro. However, it decided to keep the Degiro Brand.
What bank does Degiro use?
Degiro runs under the prudential supervision of the Dutch Central Bank. Further, the Netherlands Authority for the Financial Markets supervises it as well.
The firm received a license according to article 2:96 of the Act on Financial Supervision in the Netherlands. It merely means it can operate as an investment firm.
Degiro User Reviews
Degiro is an excellent opportunity for investments. Here's an overview of the reviews in TrustPilot. Out of 1696 reviews, the company earns this review:
- 41% says it's excellent
- 14% says it's great
- 4% says it's average
- 7% says it's poor
- 34% says it's bad
Of course, it will only go as far as the reviews. Since many people have said so, it offers quite a reassurance.
Still, as always, personal and in-depth research wouldn't hurt you. For this reason, it would be best not to get involved unless you know your way around it.
Degiro broker is a great firm you can count on to manage your investment needs. Moreover, they boast of their outstanding performance and their large assets under management.
As always, it would be best to research your own and consider what other people say about the company. This way, you'll get to understand it more and know your way in it before you place your hard-earned money.
Isn't Degiro right for you? Check its best alternatives.