Dutch-based Regulated by AFM and DNB.
DEGIRO was founded by a team that had previously worked together at another online brokerage. The group set out to provide a trading platform that allowed clients to trade easily without incurring sky high fees. The result is a fee structure that is low in comparison to its competitors. However, those low fees come at the expense of in house research. Additionally, the lack of Forex trading is a great shame.
DEGIRO is Dutch so is regulated by the Dutch financial authorities. They are the Netherlands Authority for the Financial Markets and the Dutch Central Bank.
“Its low cost fee structure is a huge draw for customers who want to trade in a variety of asset classes.”
DEGIRO’s platform has been overhauled this year to offer ratios, results, news, analysts’ recommendations, and much more. Customers can place orders quickly and easily in various types. Additionally, finding shares to trade is quick thanks to a highly effective search tool that even allows clients to search according to asset class. The platform is also available in a wide range of languages so that English does not have to be your defacto language of choice. The software can be accessed through a mobile or through the web. Two factor authentication is an added security feature as an option, which you can enable with Touch ID.
Opening an account with DEGIRO is a painless and seamless process thanks to being fully online. It is quick too with account verification taking around a day and no minimum amount required as the initial deposit. There are many different types of accounts that can be opened with DEGIRO, ranging from basic to a day trader. Day trader is the account which offers the most amount of services which in practice means different types of trades are made available. Clients will need to provide a copy of a government issued ID and bank account details.
Despite a no frills approach to its online trading platform, customers can expect an above average customer support service from DEGIRO. While it can certainly improve, with particular respect to its lack of live chat function, it is a support service available in almost 20 languages. Customers can access the support through phone call or via email, though email response times are known to sometimes be slow.
Without doubt, the most attractive feature of DEGIRO is its low cost fee structure. Plus, while it does not provide the most technologically advanced platform with limited added features, what it does provide is effective and efficient. Clients can trade quickly and easily through the platform, plus they do not require a large deposit at all to start trading through DEGIRO. If you like to read investment research from professionals, this may not be the platform for you, but if you know what you want to trade already - the low commissions fees make this a very attractive prospect.
Investing involves risk of loss.