Degiro is a highly recommended company for options traders who focus on trading within the United States and Europe. It is also recommended for price-sensitive equity. This company is a Dutch based discount broker established back in the year 2012. The trading platform is simple with a wide range of products. They have competitive trading costs for the United States and European equities and options. The web trading platform is simple to use, especially for beginners. In addition to competitive fees they also provide a special discount for any domestic trades and one free ETF trades per month from a list of over 700 ETF’s. They provide you with access to almost all large financial markets around the world with products that range from simple stocks to sophisticated futures. Customer service is helpful with multiple languages provided. Account opening is simple and straightforward without any minimum balance requirements. Of course they don’t have much education because they are a execution only broker and the product range does not include Forex.
Opening an account is simple with quick digital identification. They have no minimum deposit and the process is seamless.. Their trading platform is a web based platform that is simple to use. They have a good product search tool if you need it with broad access to a range of international products all from the comfort of one platform. The downside to their trading platform is that they don’t have a desktop platform and you can’t customize the web platform. Though you will have to take some time getting to know how it works. Your securities can be loaned out to third parties if you have a standard account profile. You cannot trade on the Forex market. There is no tax efficient account. They have a new mobile platform which is a basic design but very straightforward to use. This platform has a five digit extra password and contains all the same important functionality such as market overviews, portfolio information, security orders, money transfer orders, and account history information. Using the mobile platform means you cannot search for products based on asset class categories but you can do this if you are working from the desktop platform. The desktop platform is simple and perfect for beginners. You can choose a one-step log in or a two-step login. On the front page you will find an overview of your portfolio, information on your last transactions and any open transactions, information about the financial markets, news panel, charts, and price data.
Their customer service currently is very helpful with a call center that is easy to use. The call centers are based on different country locations and speak the languages of that country. One potential downfall is the fact that there is no physical center you can visit if you need help with customer service but they make it very easy to transfer your money, withdraw your money, open your account, trade different products, and better understand how the platform works all through their phone numbers and email addresses provided.
Cost and commission
The downside to the costs are that you have a annual fee for any mutual funds and very high mutual fund fees. They also charge you an annual fee of roughly 3 dollars for any stock exchanges that you trade. However, aside from the small pitfalls they had no withdrawal fees for your money, they will not charge you if you have been in active. There is also a complete lack of competitive financing fees. You get very competitive trading fees for equities and options throughout the United States and Europe. What’s more, you get one free ETF trades each month.
There are no educational resources provided by this broker on their platform. This is not the end of the world though given the fact that educational resources are not hard to come by but good brokers are. It is better for you to simply pick a good broker based on other things like the commissions, products, or trading platform, and then search for educational tools that teach you how to trade on whatever platform or market you prefer from someplace else. Again, a lack of educational resources is not the end of the world. You can certainly find the information you need elsewhere while still focusing on using this broker for your current trades. They offer a wide range of products on their portfolio including major stock markets across Germany, the United Kingdom, and the United States. You can also trade different mutual funds, ETF, bonds, options, futures, and CFD’s with this single platform.
They have competitive fees for European equities, European options, and US equities and options.
You have brought access to different international markets all from one broker.
Their web platform is very simple to use and will not take you a long time to figure out how to navigate.
They cannot help you out if you want to trade on the Forex market. This is one of the only markets that you cannot access with this broker.
If you are trading mutual funds will have to pay a very high fee compared to other brokers. Naturally this is not as much of the downfall if you don’t plan on trading mutual funds using this platform.
Perhaps the biggest downside is that your securities can be loaned to third parties that there is really nothing you can do to rectify this.