DEGIRO Review (2022)

DEGIRO review

DEGIRO is a global online broker that makes its services available to individuals who want to invest. The platform allows you to invest online in various products in a secure manner. DEGIRO was founded in 2013 and operates in 18 European countries. In the Netherlands, the broker is regulated by the Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB), among others.

In this DEGIRO review we will tell you more about the online broker, what DEGIRO costs you can expect, what the advantages and disadvantages of the provider are, how to create an account, how you can pay and how the customer service of the DEGIRO broker is arranged.

How are the experiences of DEGIRO?

To invest with DEGIRO is very pleasant, especially for worldwide users. Users are enthusiastic about the service and the services that are offered for investing. The DEGIRO experiences speak among other things about the simple way of payment by using for example iDEAL.

Another plus is the fact that it is a global party, which offers its services entirely in Dutch, German, English, French and many more languages. Yet there are also some experiences that are only partially satisfied. This is partly due to the lack of a live chat with the customer service and the limited possibilities to make extensive analyses. For the picture, we have listed some important advantages and disadvantages for you below.

★★★★★ BAMagazine score	★★★★★ BAMagazine score	★★★★★ BAMagazine score
Learn more	Learn more (review)	Learn more (review)
Fees $0 Per trade	Fees $0 Per trade	Fees $0 Per trade
Minimum Deposit $50	Minimum Deposit $50	Minimum Deposit $50
Promotion $50 – $5.000 Check conditions	Promotion 1 free stock Check conditions	Promotion 1 free stock Check conditions
Start trading	Start trading	Start trading

Advantages of DEGIRO Investing

Would you like to know the advantages of investing with DEGIRO? Then you can see below which advantages we can offer you:

• Depositing money into an account can be done easily via many payment methods;
• DEGIRO is a global broker, the customer service is therefore also in Dutch, but English is also available;
• You can invest at several banks and brokerages;
• You can invest at more than 50 different stock exchanges;
• The broker is regulated by the Financial Markets Authority (AFM) and is supervised by the Dutch Central Bank (DNB);
• A convenient app can be used.

Disadvantages

We don’t leave out the cons either. Disadvantages of having an account with the company include:

• There is no DEGIRO demo account;
• The customer service is not available with a live chat;
• The possibilities for making analyses are limited, we recommend using a trader platform for more detailed charts & chart tools.

Is DEGIRO scam: reliability and safety

Of course, important when choosing a broker are the reliability and security of the provider. That the DEGIRO is reliable can be noted by several things. The broker is regulated by several authorities, is under the supervision of the Dutch Central Bank and has several licenses.

On top of that, the security of your account, the website and the platform that is offered is also in good order. Several measures have been taken for security so that you can always log in and invest safely with the broker.

What about the regulation and licensing of DEGIRO?

At DEGIRO broker, compliance with the rules is supervised by the Authority for the Financial Markets (AFM), among others. Random checks and inspections are carried out regularly in order to ascertain whether the broker is adhering to the correct rules. For this purpose, the company is also under the supervision of the Dutch Central Bank (DNB).

DEGIRO has the necessary permits to perform its services and to offer investment services. Among other things, the firm has a license issued under the Financial Supervision Act. This allows DEGIRO to offer its services as an investment firm and you can see that DEGIRO is reliable.

Using SSL encryption

The security of the website and platform you use is also important. Because you are using DEGIRO’s services online, it is important that your data and money are properly secured. DEGIRO’s website and platform are therefore equipped with SSL encryption.

SSL stands for Secure Sockets Layer and is a technical feature that creates an encrypted connection between your device and the platform. This technique protects your data, your money and other data from third parties. SSL encryption can be recognized by the padlock icon in the address bar of the website you are visiting.

Power Segregation

The security of your money is also handled in several ways. Because you are using the services online, this has to be in order. The AFM and the DNB also supervise this. To ensure that nothing can happen to your money, it is placed in separate accounts.

In practice this means that your assets are kept separate from those of DEGIRO. In the unlikely event of problems at the broker, your money is at least safe. In the event of bankruptcy, for example, creditors will not be able to lay claim to your money.

How to create an account at DEGIRO?

To create an account with which you can invest, you can easily go through the following steps. The creation of an account at DEGIRO can be arranged within a few minutes.

1. To begin, go to the DEGIRO website and click on the yellow button that says “Open an account”. This button is prominently displayed at the top of the website;
2. You can then indicate the country in which you live;
3. After you have done that, you can create a username and password. You must also provide an email address in the form;
4. You will then click on the “Open your account”;
5. You will receive a confirmation email with instructions. You must follow these instructions in order to activate the account;
6. The next step is to provide your personal and address information;
7. For payments and deposits, enter a Dutch IBAN account number;
8. Finally, you must upload a proof of identity to prove that you are 18 years or older;
9. Once you have done all of that, after DEGIRO has checked your information, you can deposit money and start investing.

Conditions

To open an account at DEGIRO you must meet several conditions. As you have read in the step-by-step plan for opening an account, you must be at least 18 years of age or older. In addition, you must live in one of the 26 countries they work in and provide various details. To complete the application for an account you must, among other things:

• Provide information regarding your tax situation to the Tax Office;
• Sign a digital form using your phone number;
• Connect your bank account to the account. You do this by making a deposit of at least 1 cent;
• Answer questions related to your experience and knowledge about investing;
• Provide information if you do not live in the Netherlands and still want to open an account.

Account overview

As a client at DEGIRO you can choose from different profiles for your account. These profiles have different characteristics that fit the knowledge and experience you have with investing. What is important to know is that there is no DEGIRO demo account available. You can choose from the following profiles:

• Basic: this allows you to use all products except derivatives, debit money and debit securities;
• Active: an account with more features than the Basic account. After signing papers you can use the service debit money and debit securities;
• Trader: more features than an Active account. This type is mainly intended for experienced investors;
• Day Trader: the most comprehensive package for investors who trade professionally;

As you can see it is not possible to open a demo account at the DEGIRO, is this a essential requirement for your choice? You should look at the online broker eToro.

Platforms

For investing you can use the platform developed by DEGIRO itself. With this platform you have easy access to your account and portfolio. You can invest, look at quotes, make analyses and much more. The platform has a clear layout and is very user-friendly.

You have direct access to dozens of stock exchanges and can watch the quotes live. If you wish, you can immediately take action by buying or selling. You do not pay any extra costs for using the platform. You can easily log in with your account on a computer or laptop.

Do you want more detailed charts and the option to draw some lines and use indicators? Therefore DEGIRO is in comparison with other online brokers a bit simple. We recommend using a platform like Tradingview when choosing for DEGIRO.

Mobile DEGIRO app

It is also possible to use DEGIRO app for this purpose. With this app you can have direct access to your portfolio on your smartphone or tablet. The app gives access to more than 50 stock exchanges wherever you are. The program is suitable for devices with an Android or iOS operating system and can be used with the same account as you use on a computer or laptop. Due to the convenient features and the clarity of the app, it is suitable for novice investors and experienced users.

DEGIRO payment methods

For depositing money you can use two methods at DEGIRO. This can be done easily by using iDEAL or by making a transfer through your bank. With iDEAL you can deposit money directly to the account on your smartphone or tablet. This can be done through your own bank with internet banking. The maximum deposit allowed for this is $50,000 at a time.

You can easily fund your DEGIRO account via bank transfer. On the negative side, the convenient and fast option of depositing via credit or debit card is not available.

For some accounts, Trustly, iDEAL and/or Sofort might be available as instant deposit options, but this varies by country. In the UK, only bank transfer deposits are accepted at the moment.

• Bank transfer deposits usually take 2-3 business days, while doing it via Trustly would take around 30 minutes.

DEGIRO charges no deposit fees.

The advantage is that you have the money immediately at your disposal. Via a bank transfer this can take 1 to 2 working days. Withdrawing money from the broker can be done in the same way. This can be done by means of a bank transfer for which a DEGIRO transaction fee may be charged.

DEGIRO has strict rules on bank transfer deposits. It only allows transfers from bank accounts that are in your name and only from the accepted countries.

Deposits via Wise, Revolut, Monese, Currencies Direct, Currency Cloud or PayPal are not allowed.

• If you have paid €350 or more in transaction fees during a 60-day period, a limit of €100,000 will apply to you. This will be reviewed on a monthly basis.

DEGIRO withdrawal

DEGIRO charges no withdrawal fees.

You can withdraw only via bank transfer. E-wallets are accepted only for residents of certain countries such as Germany or Spain. In theory, the withdrawn amount should be transferred to your bank account within 3 business days. We tested it and actually received the money within 1 business day. In comparison with other online brokers this is very fast.

You can only withdraw money to accounts that are in your name.

How to withdraw money from DEGIRO?

1. Click the ‘Deposit/Withdraw Funds’ button and select the ‘Withdrawal’ tab.
2. Select the appropriate DEGIRO account and bank account for the transaction.
3. Enter the amount and a description.
4. Click ‘Transfer.

Brokerage at DEGIRO

If you want to trade at DEGIRO, you can choose from a wide range of products and services. It is wise to be aware of the transaction costs at DEGIRO. With an account you can trade in, among others:

• Shares on stock exchanges in Europe, the United States and in other countries;

Investment funds and ETFs;

• Investment funds <Bonds;
• Futures <Indices;

Education

To help users further on their way, there is DEGIRO’s Investor Academy. With the information and tools offered on the broker, it is easy for novice investors to learn how to invest. In addition to learning how to invest, it is also possible to discover what type of investor you are. Furthermore, you can learn investment strategies and discover how to use all the tools and functions of DEGIRO.

The educational tools offered for this purpose include blogs, online lessons and video’s explaining a variety of issues. These include information about buying the right shares, how to start investing and how to add or remove money from your portfolio.

Customer Service

The customer service of DEGIRO is simple and can be reached in various ways. You can contact DEGIRO by calling a landline, by sending an e-mail to the service desk or by searching the website under frequently asked questions. There you will find a variety of questions and answers about different subjects related to investing at DEGIRO.

Would you like to call the customer service desk? This is possible on working days from 8 in the morning until 10 in the evening. In the weekend and outside opening hours you can e-mail us. A big advantage is of course that you can be fully spoken to in Dutch by the employees of the broker.

Conclusion DEGIRO review

DEGIRO is a reliable online broker from around the world. The services that are offered are in good order and the platform that was developed by DEGIRO for investing is well constructed. As a user it is pleasant that money can be deposited via iDEAL and other payment methods. This has the advantage that you can immediately dispose of your money and you don’t have to wait 1 or 2 working days before you can get started. It is also nice that you can use internet banking at your own bank.

The experiences with the customer service are good and it is nice that there are many possibilities for education. Moreover, all DEGIRO charges are clearly indicated to avoid misunderstandings. One point of attention for us is the missing live chat. If DEGIRO would pay attention to this, then everything would be completely fine as far as we are concerned.

Read more?

After reading this DEGIRO review, are you curious what the possibilities are for you and do you want to investigate what type of investor you are? Then make use of the comparator on this page. With this tool you can put several brokers side by side and compare them on the basis of reviews, prices and the services they offer. If you have made a choice after comparing, you can simply open an account with the broker in question and start investing.