BEST DISCOUNT BROKER - DEGIRO Review

Photo: DEGIRO

Recommended for price-sensitive buy-and-hold investors and traders looking only to carry out transactions.

DEGIRO is a Dutch online discount broker. It is privately owned and was established in 2008 by former employees of another brokerage company.

DEGIRO is regulated by top-tier financial authorities such as the Netherlands Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB). It is registered with the Chamber of Commerce and Industry in Amsterdam.

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DEGIRO pros and cons

DEGIRO offers one of the lowest fees on the market in all asset classes, and it is regulated by multiple top-tier regulators. Its web and mobile trading platforms are well-designed and easy to use.

On the downside, forex trading is not available, education and research tools are limited, and credit/debit card deposit is not possible.

Pros

• One of the lowest fees on the market
• Regulated by multiple top-tier authorities
• Easy-to-use web and mobile platform

Cons

• Forex not available
• Limited research and education
• No credit/debit card deposit

Account Opening

The account opening process at DEGIRO is fast, fully digital, and no minimum deposit is required.

Pros

• Fast
• Fully digital
• No minimum deposit

Cons

• None

Deposits and Withdrawals

DEGIRO deposits and withdrawals are free of charge via bank transfer. On the other hand, you cannot deposit funds using a credit or debit card.

Pros

• Free withdrawal
• No deposit fee
• Several account base currencies

Cons

• Credit/Debit card not available

DEGIRO main features and highlights:

🗺️ Country of regulation - Netherlands

💰 Trading fees class - Low

💰 Inactivity fee charged - No

💰 Withdrawal fee amount - $0

💰 Minimum deposit - $0

🕖 Time to open an account - 1 day

💳 Deposit with bank card - Not available

👛 Depositing with electronic wallet - Available

💱 Number of base currencies supported - 9

🎮 Demo account provided - No

🛍️ Products offered - Stock, ETF, Fund, Bond, Options, Futures, Crypto

Verdict

DEGIRO is a good choice if you want a simple platform and don’t want to spend too much on fees.

Transaction costs are generally very low. DEGIRO also has one of the best trading platforms for Europeans. In addition, the account opening process is fast.

On the other hand, education and research tools are limited. There is no forex trading, and most clients can only deposit and withdraw by bank transfer. All in all, DEGIRO is a great online broker. There is no minimum deposit and no inactivity fee, so feel free to go ahead and give it a try.

Reprinted from brokerchooser, the copyright all reserved by the original author.