DEGIRO REVIEW: PROS & CONS
Have you come across this financial app and wonder what it is all about? In this review, we will walk you through the key points to consider when evaluating its features and benefits.
Last Update:
27.6.24
PROS & CONS
PROS
Regulated by a Credible Government Agency
This platform is regulated by a credible government agency, ensuring that it operates in compliance with industry standards and regulations. Regulation provides a level of security and protection for traders, as it requires the platform to adhere to specific rules and guidelines designed to safeguard the interests of market participants. Trading on a regulated platform can enhance trust and confidence in the trading environment.
Low spreads
This platform offers tight spreads, ensuring competitive pricing and cost-effective trading.
Multi-Asset Trading
This platform allows traders to engage in multi-asset trading, enabling them to trade various financial instruments, including stocks, ETFs, forex, and more.
Advanced Order Types
This platform supports advanced order types, providing traders with additional flexibility in managing their trades and implementing various trading strategies.
CONS
Poor Customer Support
This trading platform offers limited customer support, leading to delays in resolving issues or inadequate assistance for traders. With subpar customer support, traders may face challenges in getting timely responses to their inquiries, resolving technical difficulties, or receiving necessary guidance.
Lack of Educational Resources
This trading platform lacks comprehensive educational resources, making it challenging for traders to access valuable learning materials and enhance their trading knowledge. Without access to educational resources, traders may struggle to understand complex trading concepts, strategies, or market analysis, limiting their ability to make informed trading decisions.
APPS
DEGIRO App
Mobile app for the European broker DEGIRO. Facilitates stock trading and portfolio management.
The image shows the user interface of the mobile trading application, highlighted by its intuitive and easy-to-navigate design.
The main screen presents a clear and concise view of the market, with quick access to a diverse range of assets, including stocks, forex, and indices.
ACCOUNT OPENING
How to Open a Trading Account with DEGIRO
Opening a trading account is a process that involves several key steps to ensure both your trading needs and the broker's regulatory requirements are met. Below, we describe the process in detailed steps:
Visit the Broker's Website: Access the official website (found in the index of this review). Look for the option to open a new trading account, which is usually clearly indicated on the main page.
Complete the Registration Form: Provide your personal details, such as name, address, email, and phone number. Depending on the broker's need to know you better as a client, additional information about your trading experience, employment, and financial situation may be requested.
Identity Verification: Upload documents to verify your identity and residence. This generally includes a photo ID (passport or identification document) and a proof of address (utility bill or bank statement).Set Up Your Trading Account: Configure aspects of your account, such as currency type, leverage, and, in some cases, trading preferences.
Deposit Funds: Make an initial deposit using one of the payment methods accepted by the broker (We detail the alternatives later).
Access the Trading Platform: Download and install the trading platform. Log in with your account details.
Practice with a Demo Account (Optional): Practicing trading with virtual funds before risking real money means you won't be surprised when using real money.
Start Trading: Once your account is set up and funded, you can start trading.
How to Deposit
Once you have decided how much to deposit and which method to use, making the deposit is simple and quick. Just follow these steps:
Log in to your newly created account.
Click on "Deposit Funds".
Enter the amount and select the currency.
Finally, select your chosen deposit method. Don't worry, it's a secure and private process. Transactions are communicated using Secure Socket Layer (SSL) technology.
Below we show you the available alternatives.
Deposit & Withdrawal Methods
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ASSETS & SERVICES
DEGIRO stands out for:
Low trading fees across all asset classes and no inactivity or withdrawal fees.
An easy-to-use web and mobile platform.
Offering products like stocks, ETFs, funds, bonds, options, and futures.
Low stock and ETF trading fees, with a selection of ETFs available for commission-free trading once a month.
REGULATION
United Kingdom
FCA
Financial Conduct Authority
Netherlands
NAFM
Netherlands Authority for the Financial Markets