Degiro Review 2024

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rating full
2.8

Degiro is #97 in our rankings of UK brokers.

Degiro Facts & Figures

DEGIRO is a Netherlands-headquartered broker with millions of users and authorization from leading regulators, including the BaFin and FCA. Clients can access global exchanges anytime, anywhere, and on any device. DEGIRO offers stock trading with exceptionally low fees and a huge range of markets. DEGIRO are not CFD brokers and do not offer CFDs.

Pros
  • Low minimum deposit
  • Multiple account currencies
  • Commission-free stock trading
  • Access 50 exchanges in 30 countries
  • Beginner-friendly platform and app
  • Regulated by BaFin and FCA
  • No inactivity fee
  • 90+ global awards
  • 2+ million users
Cons
  • No copy trading
  • No demo account
  • No MT4 integration
  • No CFD trading
  • Few payment methods
Awards
  • Best Online Broker - Qualebroker 2022 (Italy)
  • Best Broker For ETFs And Investment Funds - Qualebroker 2022 (Italy)
  • Best Discount Broker - Broker Chooser 2022 (UK)
  • Best Broker For Stock Trading - Broker Chooser 2022 (UK)
Instruments Stocks, ETFs, Bonds, Futures, Options, Warrants
Demo Account No
Min. Deposit $0
Payments
Min. Trade Variable
Regulated By BaFin, FCA
MetaTrader 4 No
MetaTrader 5 No
cTrader No
DMA Account Yes
ECN Account No
Social Trading No
Copy Trading No
Mobile Apps iOS, Android & Windows
Islamic Account No
Commodities
  • Gasoline
  • Oil
  • Gold
  • Silver
  • Livestock
  • Copper
  • Aluminium
  • Cotton
  • Coffee
  • Cannabis
Stocks DEGIRO offers access to over 50 exchanges from more than 30 countries. Fees are low with a €1 commission on US shares plus a €1 processing fee. ETFs have no commission, just a €1 processing fee. The free cost calculator available to all users is also a bonus.
Risk Warning – Your Capital is at risk

Degiro is an online stock broker offering low fees and a user-friendly mobile app. The company also provides trading opportunities in ETFs, bonds, index funds and more. See our review for details of the Netherland-based broker’s costs, live accounts, minimum deposit requirements, login security and more. Find out whether UK traders should sign up for a Degiro trading account.

About Degiro

Degiro was established in 2008 and operates from a head office in the Netherlands. Today, the company has a presence in 18 countries with 180+ employees and is one of the biggest online brokers in Europe. Degiro is focussed on providing clients with straightforward access to global stock exchanges, including the FTSE. The broker’s UK operations are authorised by the Financial Conduct Authority (FCA).

Trading Platform

Degiro offers its proprietary WebTrader solution to all clients. No software download is required, with platform access available via major internet browsers. The bespoke trading terminal offers sophisticated features through an intuitive interface. Clients get real-time market news, live streaming prices, a favourites list, plus customisable graphs and charts. A modest selection of technical indicators is also available, along with multiple order types and short selling capabilities.

Degiro trading platform

WebTrader

Some users may be disappointed by the lack of MT4 and MT5 access, but the broker’s proprietary application does the job for straightforward stock trading. User reviews are mostly positive of the easy-access platform with secure logins. With that said, alternative brokers may be a better fit for those looking for advanced analysis tools.

Markets

Degiro offers UK clients a selection of ETFs, bonds, tracker funds, shares, futures and options. Traders can access 50+ exchanges across 30 countries, including the London Stock Exchange, the Toronto Stock Exchange, the Australian Securities Exchange, plus the S&P 500. The ETF list is vast with direct market or smart order routing (SOR).

Degiro does not offer forex and CFD trading or ISA investments. Crypto trading on the likes of Bitcoin is also not available owing to FCA regulatory conditions.

Fees & Commissions

Despite some free ETFs, the broker does charge varying trading fees, most of which are competitive vs alternatives like Hargreaves Lansdown. Custody (non-lending) fees vary between the four other account types. A full breakdown by account is available on the broker’s website. A cost calculator is also provided on the website so users can understand the impact on investment returns.

Examples of fees with the Basic, Active, Day Trader, and Trader accounts are as follows:

  • Bonds – €35.00 + 0.03%
  • ETF worldwide list – €2.00 + 0.03%
  • Futures – Eurex indicies – €0.75 per contract
  • Options – Eurex (Germany) – €0.75 per contract
  • Stocks – London Stock Exchange – £1.75 + 0.014%
  • Investment funds – free

Connectivity Costs

There are fees for trading opportunities outside of home markets. Connection charges are 0.25% of the total account value (maximum charge of €2.50) per calendar year, per exchange. The LSE is exempt from this fee. The connectivity fee for US options is charged at €5.00 per calendar month, per exchange.

Additional Services

Extra fees to consider when trading with Degiro include:

  • Portfolio transfer – £10.00 per position
  • Price feeds – maximum £10.50 per month
  • Email and telephone orders via Degiro dealing desk – £8.50 surcharge

Leverage Review

Degiro leverage varies by account type and asset class. Stocks can be bought on margin through; Euronext Access Paris, Xetra, and Borse Frankfurt via direct-to-market routing. Trading with leverage is inherently risky so make sure you have appropriate alerts and limits in place. The broker also offers non-leveraged stock trading products.

Mobile Apps

Degiro offers an award-winning mobile app based on its bespoke browser platform. This is available for free download and is compatible with iOS and Android devices. Clients can access full trading features, respond to market movements, and complete transactions while on the go. Features include:

  • Real-time quotes
  • Interactive graphs
  • Access all order types
  • Stock market live news
  • Market sentiment index
  • View & add to favourites list
Degiro mobile trading

Degiro app

Deposits

There is no minimum deposit requirement to open a Degiro live account. However, the broker only accepts deposits via bank account transfer. E-wallet payments such as PayPal or Revolut are not accepted.

Login to the WebTrader and click the deposit/withdrawal logo to add or withdraw funds from your trading account. Processing times of 2-3 working days apply.

Withdrawals

Degiro does not charge any processing fees but all funds must be withdrawn to a nominated bank account. Clearing times can vary depending on any KYC or security checks that need to be conducted. Priority processing of deposits or withdrawals is not supported.

Demo Account

Degiro does not offer a demo account. This is a significant disadvantage vs competitors such as eToro, Plus500, and XTB. Demo accounts are a good way for new traders to become familiar with platform features and to test strategies in a simulated environment.

Regulation Review

The broker is a registered investment firm with the Netherlands Authority for the Financial Markets (AFM). Prudential supervision is provided by the Dutch Central Bank (DNB). The broker also has authorisation from the Financial Conduct Authority in the UK. Traders can be assured of segregated funds and investor protection schemes.

Additional Features

Degiro offers several support features. This includes an Investors Academy; an educational hub with learning content and day trading strategy information, ideal for new starters. Topics include order types, stock prices, market orders and margin requirements.

In addition, there are WebTrader tutorial videos on the broker’s website. These cover new platform features, exchange connection fees, how to set strategies, plus how to use stop losses, limit orders, and trailing stops. A blog-style forum with market insights is also available.

Degiro trading tools

Stock finder

Trading Accounts

Degiro offers five account types. Trading services and costs differ between accounts:

  • Basic – The default account, this profile does not support debit money, debit securities, or derivatives. Fees are low and margin trading is not offered.
  • Custody – An entry-level account, suitable for taking long positions in securities. This profile does not support debit money, debit securities, or derivatives. This is a secure account with no lending or third-party asset segregation.
  • Active – This profile supports limited debit money, debit securities and derivatives.
  • Trader – This profile supports debit money and the full suite of securities and derivatives.
  • Day Trader – This account offers all investment services, suitable for active day traders.

Note, margin trading, otherwise known as trading with debit money, is only offered on the Active, Trader and Day Trader accounts.

To open a live account, clients must complete an online registration form with proof of residency. Degiro uses bank identification, requiring a £0.01 transfer and the IBAN of the funding bank account. Clients are free to open several different trading accounts with Degiro.

Benefits

  • Stock shorting
  • FCA regulation
  • No inactivity fees
  • Multiple account types
  • Competitive share dealing
  • Award-winning mobile app
  • No minimum deposit requirement
  • Investor academy and other educational resources

Drawbacks

  • No forex trading
  • No demo account
  • Taxes on profits may apply
  • No debit/credit card deposits
  • MetaTrader 4 & MetaTrader 5 not offered

Trading Hours

The broker follows standard office hours with 24-hour weekday trading. Note, trading hours may differ by instrument. Degiro offers a list of opening hours by global stock exchange on their website, with respective public holiday dates published.

Contact Details

Degiro offers help via several support channels:

  • Email – clients@degiro.co.uk
  • Order desk email – orders@degiro.co.uk (24/7)
  • Phone number – +31 20 261 3072 (Monday to Friday 7 am to 9 pm)
  • Address – Degiro BV, Rembrandt Tower, 9th Floor, 1096 HA Amsterdam, The Netherlands

Our review was pleased with the speed and quality of responses when interacting with the customer support team.

Client Safety

Account access is password protected. Personal information is secured with SSL encryption on both PC and mobile applications. Two-step authentication is also available and high-quality data privacy protocols are in place. For the safest trading environment, Degiro encourages clients to ensure the latest system updates have been installed.

Degiro Verdict

Degiro is a safe and reliable broker. UK traders benefit from FCA regulation, five account types, plus a host of educational content. It is disappointing to see no demo account, however, entry requirements for beginners are still low with no minimum deposit stipulation or inactivity fees. Overall, we’re comfortable recommending Degiro to our readers, though the broker is more suited to ‘buy and hold’ investors versus active day traders.

FAQ

Does Degiro Offer Trading On Penny Stocks?

Yes, Degiro offers trading on penny stocks, suitable for new or inexperienced users. Penny stocks are offered on several popular exchanges with a breakdown on the broker’s website.

How Can I Change The Language Of My Degiro Account?

Degiro does not offer the functionality to change the language of the trading platform interface. For English and Irish accounts, traders must open an account on the relevant platform (Degiro.co.uk) or Ireland (Degiro.ie).

What Are The Differences Between The Degiro Custody Vs Basic Accounts?

A basic account offers access to all products and investment services except debit money, debit securities, and derivatives. A Custody account is subject to different conditions as securities are held separately from the lending pool.

What Is The Minimum Deposit To Open A Degiro Account?

There are no minimum deposit requirements to open a live trading account at Degiro. With that said, a £0.01 transfer is required at the registration stage for verification purposes.

Does Degiro Offer Fractional Shares Trading?

Currently, Degiro does not offer fractional shares trading. Keep an eye on the broker’s platform for new features and investment opportunities.

Compare Degiro with Other Brokers

These brokers are the most similar to Degiro:

  1. Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
  2. IG Index - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
  3. Swissquote - Swissquote is a Switzerland-based bank and broker that offers online trading and investing. The company has a high safety score and is listed on the Swiss stock exchange. The firm offers a huge range of products, from stocks, ETFs, bonds and futures to 400+ forex and CFD assets. Hundreds of thousands of traders have opened an account with the multi-regulated brokerage. Clients can get started in three easy steps while 24/7 customer support is available to assist new users.

Degiro Feature Comparison

Degiro Compared With Similar Brokers
Degiro Interactive Brokers IG Index Swissquote
Rating 2.8 4.3 4.4 4
Markets Stocks, Commodities Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities Forex, Stocks, Commodities
Minimum Deposit $0 $0 $0 $1000
Minimum Trade Variable $100 0.01 Lots 0.01 Lots
Demo Account No Yes Yes Yes
Regulators BaFin, FCA FCA, SEC, FINRA, CBI, CIRO, SFC, MAS, MNB FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA FCA, FINMA, DFSA, SFC
Bonus - - - -
Education No Yes Yes No
Platforms - - MT4 MT4, MT5
Leverage - 1:50 1:30 (Retail), 1:222 (Pro) 1:30
Visit
Review Degiro
Review
Interactive Brokers
Review
IG Index
Review
Swissquote
Review

Trading Instruments Comparison

Comparison of Degiro Trading Instruments
Degiro Interactive Brokers IG Index Swissquote
CFD No Yes Yes Yes
Forex No Yes Yes Yes
Stocks Yes Yes Yes Yes
Crypto No Yes No No
Commodities Yes Yes Yes Yes
Oil Yes No Yes Yes
Gold Yes Yes Yes Yes
Copper Yes No Yes No
Silver Yes No Yes Yes
Corn No No No No
Futures Yes Yes Yes Yes
Options Yes Yes Yes Yes
ETFs Yes Yes Yes Yes
Bonds Yes Yes Yes Yes
Warrants Yes Yes Yes No
Spreadbetting No No Yes No
Volatility Index No No Yes No

Degiro vs Other Brokers

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DEGIRO is a Netherlands-headquartered broker with millions of users and authorization from leading regulators, including the BaFin and FCA. Clients can access global exchanges anytime, anywhere, and on any device. DEGIRO offers stock trading with exceptionally low fees and a huge range of markets. DEGIRO are not CFD brokers and do not offer CFDs.