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DEGIRO Logo
4.7
Best discount broker

Summary

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, 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.

Disclaimer: Investing involves risk of loss.

Best discount broker

We selected DEGIRO as Best discount broker for 2020, based on an in-depth analysis of 57 online brokers that included testing their live accounts.

Best broker for stock trading

We selected DEGIRO as Best broker for stock trading for 2020, based on an in-depth analysis of 57 online brokers that included testing their live accounts.

Overall Rating
4.7
Fees
5.0
Account opening
5.0
Deposit and withdrawal
3.0
Trading platform
4.0
Markets and products
4.0
Research
3.0
Customer service
4.0
Education
2.0

DEGIRO pros and cons

DEGIRO offers one of the lowest fees on the market in all asset classes. The account opening is fully digital, quick and seamless. Its web and mobile trading platforms are well-designed and easy to use.

On the downside, DEGIRO provides limited research and education. Forex trading is not available, and credit/debit card deposit and withdrawal is not possible.

Pros Cons
One of the lowest fees on the market Limited research and education
Fast and seamless account opening No forex trading
Easy to use web and mobile trading platform No credit/debit card deposit and withdrawal
DEGIRO main features and highlights
🗺️ Country of regulation Netherlands, UK
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1 day
💳 Deposit with credit 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
Gergely Korpos

Gergely Korpos

Co-founder, CPO

Author of this review

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on Brokerchooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

DEGIRO review
Fees

5.0
DEGIRO has low trading and non-trading fees. In most asset classes, it is the best on the market. There are some ETFs that you can trade once a month for free, which is a great deal for buy-and-hold investors.
Pros Cons
Low trading fees Higher trading fees for Asian and smaller European stock exchanges
Low non-trading fees
Low stock and ETF fees
DEGIRO fees snapshot
Assets Fee level Fee terms
US stock Low $0.004 per share + €0.5
EURUSD - Not available
Mutual fund Low 0.1% + €7.5 and 0.2% yearly administration fee
Inactivity fee Low No inactivity fee

We ranked DEGIRO's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let's go over some lingo related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

In the sections below, you will find the most relevant fees of DEGIRO for each asset class. For example, in the case of stock investing, commissions are the most important fees.

We also compared DEGIRO's fees with those of two similar brokers we selected, Interactive Brokers and Saxo Bank. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of DEGIRO alternatives.

To have a clear overview of DEGIRO, let's start with the trading fees.

DEGIRO trading fees

DEGIRO's trading fees are one of the lowest for all asset classes.

We analyzed the fees of DEGIRO UK. However, the fees vary a bit from country to country.

Stock fees and ETF fees

DEGIRO offers one of the lowest stock and ETF commissions on the market.

There is also a list of ETFs which can be traded for free once a month, i.e. either one buy or sell transaction. It is also free to carry out additional ETF transactions within the same month, for the same product, but only if they are the same kind of transactions (i.e. buy or sell) as the first one and the trade is at least $/€1,000.

DEGIRO stock and ETF commission of a $2,000 trade
  DEGIRO Interactive Brokers Saxo Bank
US stock $0.6 $1.0 $10.0
UK stock $2.5 $7.2 $9.6
German stock $5.6 $4.4 $11.0

At DEGIRO, the stock, ETF and warrant fees are the same.

The trading fee is usually calculated as a flat fee plus a percentage of the traded volume, except for the US and Canada, where you are charged based on the number of shares traded. The flat fee for Asian and smaller European markets is higher.

DEGIRO stock, ETF, and warrant commission pricing
Market Commission Max
United Kingdom £1.75 + 0.022% £5
USA €0.5 + $0.004/share -
Germany – XETRA €4 + 0.058% €60
Germany – Zertifikate-Börse Frankfurt €2 + 0.118% -
Germany – Frankfurt (Stocks)  €7.5 + 0.098%  -
Belgium, Denmark, Finland, France, Ireland, Italy, The Netherlands, Norway, Austria, Portugal, Spain, Sweden, Switzerland €4 + 0.058% €60
Canada €2 + CAD 0.01 per share  -
Australia, Hong Kong, Japan, Singapore €10 + 0.068% -
Poland €5 + 0.168% -
Hungary, Greece, Czech Republic, Turkey €10 + 0.168% -
ETFs €2 + 0.038%  -
Free ETFs 1 free trade/month -

Fund fees

DEGIRO has generally low fund fees. 

DEGIRO commission for a $2,000 fund purchase
  DEGIRO Interactive Brokers Saxo Bank
Mutual fund $10.3 $15.0 $0.0
EU mutual fund $10.3 $4.4 -

Similarly to stocks, DEGIRO charges a flat and a volume-based fee for funds. The flat fees are especially high for some non-listed funds.

DEGIRO fund commission pricing
Mutual funds Commission Annual fee
Euronext Fund Services €7.5 + 0.10% 0.2%
Non-Exchange Listed Investment Funds (STP) €7.5 + 0.10% 0.2%
Non-Exchange Listed Investment Funds (Non-STP) €75.00 + 0.10% 0.2%
FundShare Cash Funds / Morgan Stanley Liquidity Funds Free Free

Bond fees

DEGIRO has generally low bond fees. They are noticeably lower than Saxo Bank's and almost the same as at IB.

DEGIRO commission of a $10,000 government bond trade
  DEGIRO Interactive Brokers Saxo Bank
US Treasury bond - $5.0 $88.0
EU government bond $11.3 $10.0 $88.0

Check out the volume-based pricing in the following table:

DEGIRO bond commission pricing
Market Commission
Germany – Xetra / Frankfurt  €5 + 0.058%
The Netherlands, Belgium, Portugal, France €2 + 0.068% 
OTC Bonds (i.e. Norwegian) €35 + 0.038%

Options fees

DEGIRO's options fees are low. Its competitors charge a higher trading fee for this asset class.

DEGIRO stock index options commission of 10 contracts
  DEGIRO Interactive Brokers Saxo Bank
US stock index options $6.5 $7.0 $40.0
UK stock index options - $20.4 $36.0
German stock index options $9.9 $12.1 $44.0

DEGIRO options fees are volume-based, i.e. the fee you pay depends on the number of contracts you buy. 

DEGIRO pricing for stock index options
Market Commission
USA - CME, CBOT, CBOE, NYMEX, COMEX $0.65 / contract
Germany €0.90 / contract
Spain €1.65 / contract
The Netherlands, Belgium, France, Portugal €2.15 / contract
Norway, Finland, Sweden, Denmark  €0.65 / contract
Other Countries €2.15 / contract
Option exercise / assignment €1.00 / contract

Futures fees

DEGIRO's futures fees are low as well. They beat Saxo in all areas, while compared to IB, they are lower on the US and the German markets, but higher in the UK market. 

DEGIRO stock index futures commission of 10 contracts
  DEGIRO Interactive Brokers Saxo Bank
US stock index futures $6.5 $8.5 $40.0
UK stock index futures $29.2 $20.4 $36.0
German stock index futures $9.9 $22.0 $44.0

Similarly to the options, the futures fees are calculated based on the number of contracts:

DEGIRO pricing for stock index futures
Futures Trading fee
NYSE Liffe - Amsterdam, Brussel, Lisbon, Paris €2.65 / contract
EUREX main indices - EURO STOXX 50, DAX, DAX Mini  €0.90 / contract
EUREX other stock indices €2.65 / contract
USA - CME, CBOT, NYMEX, COMEX $0.65 / contract
MEFF (Spain) €1.65 / contract
Norway, Finland, Sweden, Denmark €0.65 / contract

Crypto fees

At DEGIRO you can buy cryptos only through ETNs (exchange-traded notes). At the time of our DEGIRO review, you can trade with Bitcoin and Ethereum ETNs on the Stockholm Stock Exchange. DEGIRO's trading cost here is 0.058% + €4, but maximum €60. If you want to understand what is a crypto ETN check out our crypto blogpost.

Non-trading fees

DEGIRO has low non-trading fees. There is no account fee, inactivity fee, withdrawal fee, deposit fee, or custody fee.

DEGIRO non-trading fees
  DEGIRO Interactive Brokers Saxo Bank
Account fee No No No
Inactivity fee No Yes Yes
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

On the downside, however, there is an unusual fee category, called an "Exchange Connectivity Fee." This is charged for trading outside of your home market. You will pay a maximum of 0.25% of the total account value (with a maximum charge of €2.50) per the calendar year for each exchange with the exception of the London Stock Exchange. The connectivity fee for US options is €5 per exchange per calendar month.

If your account currency differs from the currency of the asset you want to buy, a currency conversion fee is charged. At DEGIRO you can do this either automatically or manually, but the fees for the two options are different:

  • For automatic currency conversion, DEGIRO charges 0.1% of the transaction value.
  • For manual currency conversion, DEGIRO charges €10 plus 0.02% of the amount.

You should avoid the latter option since the fees here are very high for lower amounts.

DEGIRO review
Account opening

5.0
DEGIRO has an easy and fast account opening process. No minimum deposit is required.
Pros Cons
Fast None
Fully digital
No minimum deposit

Can you open an account?

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What is the minimum deposit at DEGIRO?

There is no minimum deposit. This is great if you want to invest smaller amounts.

Account types

DEGIRO offers the following account types:

  • Custody
  • Basic
  • Active
  • Trader
  • Day Trader

You can access more products and features as you go down the list, i.e. Custody offers the least and Day Trader the most services. Trading fees are the same for each profile.

For a summary of profiles, take a look at this table: 

DEGIRO account types
  Custody Basic Active Trader Day Trader
Trade: Shares, Bonds, Investment Funds, and Trackers (ETFs) Yes Yes Yes Yes Yes
Trade: Leveraged Products and Warrants No Yes Yes Yes Yes
Buying on margin No No Yes (up to 50% of your available margin)

Yes (up to 100% of your available margin)

Yes (up to 100% of your available margin with additional margin during trading hours)
Going short No No Yes Yes Yes
Trade Derivatives (Options and Futures) No No Yes Yes Yes
Free real-time prices on Euronext exchanges Yes Yes Yes Yes Yes
Free dividend and coupon processing No Yes Yes Yes Yes

Some of the profiles may not be available in some countries. You can read more about DEGIRO profiles here.

Some other aspects of the different profile types:

  • Tax: at the time of our review, DEGIRO does not provide tax-free account options like DEGIRO ISA or others available in some European countries. Two exceptions are Sweden, where ISK accounts is available and the Netherlands, where a pension account can be opened.
  • Joint account: available, contact your local customer support.
  • Corporate account: account owned by a legal entity, available.
  • Account for minors: available, contact local customer support.

How to open your account

Account opening is seamless, fast, and fully digital. Your account will be ready in about one day.

For the initial registration you need:

  • a copy of your passport or ID card
  • the bank account number from which you will fund the investment account.

After the initial registration you will have three additional tasks before your account is activated and you can trade:

  1. Complete an appropriateness test. 
  2. Agree to the conditions for real-time prices.
  3. Transfer money to your investment account.

DEGIRO review - Account opening

DEGIRO review
Deposit and withdrawal

3.0
DEGIRO deposits and withdrawals are free of charge via bank transfer. On the other hand, you cannot deposit with credit or debit card.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee
Several account base currencies

Account base currencies

At DEGIRO, you can choose from 9 base currencies. The available base currencies are CHF, DKK, GBP, NOK, SEK, EUR, CZK, PLN and HUF.

Base currencies at DEGIRO vs similar brokers
  DEGIRO Interactive Brokers Saxo Bank
Number of base currencies 9 21 13

At DEGIRO, the base currency of your account is always the currency of your home country. This means for example that you will have a GBP account if you register at www.degiro.co.uk as a UK citizen. You cannot have more than one base currency for one account.

However, you can have an additional DEGIRO account in a different currency if you have a bank account in your name in the country of that currency. For example, if you are a UK citizen, you can have an account in Swedish krona if you have a bank account in Sweden. In this case, you have to apply for a DEGIRO trading account on the local DEGIRO website.

Why does this matter? For two reasons. If you fund your account in the same currency as your bank account or you trade assets in the same currency as your account base currency, you don't have to pay a conversion fee.

Deposit fees and options

You can fund your DEGIRO account via bank transfer or Trustly, an instant deposit service provider. For Dutch accounts, iDEAL and Sofort are available as instant deposit options. On the downside, the convenient and fast option of credit and debit card depositing is not available.

The bank transfer usually takes 2-3 business days, while Trustly takes around 30 minutes. 

DEGIRO charges no deposit fees.

DEGIRO deposit options
  Degiro Interactive Brokers Saxo Bank
Bank transfer Yes Yes Yes
Credit/Debit card No No Yes
Electronic wallets Yes No No

DEGIRO has strict rules on bank transfer deposits. It only allows transfers from bank accounts in your name from the accepted countries.

DEGIRO review - Deposit and withdrawal - Deposit

DEGIRO withdrawal fees and options

DEGIRO charges no withdrawal fees.

You can withdraw only via bank transfer, Trustly is not an option. DEGIRO's withdrawal options are the same as at its main competitors.

DEGIRO withdrawal fees and options
  Degiro Interactive Brokers Saxo Bank
Bank Transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No
Withdrawal fee $0 $0 $0

DEGIRO ensures that the withdrawn amount is transferred to your bank account within 3 business days. We tested it and received the amount within one business day.

You can only withdraw money to accounts in your name.

How do you withdraw money from DEGIRO?

  • Click on the 'Deposit/Withdraw Funds' button and click on the 'Withdrawal' tab.
  • Select your desired DEGIRO and bank accounts for the transaction.
  • Enter the amount and a description.
  • Click 'Transfer.'

DEGIRO review - Deposit and withdrawal - Withdrawal

More funding and withdrawal info

DEGIRO review
Web trading platform

4.0
DEGIRO's web platform is simple and easy to use. Even beginners can easily navigate it and buy stocks. On the negative side, you cannot set price alerts.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report No price alerts
Two-step (safer) login
DEGIRO platforms to choose from
Trading platform Score Available
Web 4 / 5 stars Yes
Mobile 5 / 5 stars Yes
Desktop - No

DEGIRO's web platform is available in your local language. For example, if you register from Germany your platform language will be German.

Look and feel

DEGIRO's web trading platform is great for executing trades, but it's not the most advanced we've seen. 

It is well designed and user-friendly but lacks any customization options.

DEGIRO review - Web trading platform

Login and security

You can choose between a one-step or a two-step login. The two-step option is available through Google Authenticator.

We recommend the latter as it is more secure.

Search functions

The search functions are OK.

When you type in the name of a product, a list of matching products will appear, categorized by asset class. You can also see the stock market and the currency the product is available in.

DEGIRO review - Web trading platform - Search

Placing orders

You can select from several order types, although not all of them are available for every tradable instrument. The following order types are available:

  • Limit
  • Market
  • Stop loss
  • Stop limit
  • Trailing stop

If you are not familiar with the basic order types, read this overview.

You can also use two order terms:

  • Day
  • Good-till-cancelled (GTC)

DEGIRO review - Web trading platform - Order panel

Alerts and notifications

You can receive an order confirmation by email, but text message notification is not available. There is also no price alert function.

Portfolio and fee reports

DEGIRO's portfolio and fee reports are well organized. They are transparent, and you can easily see what products you own and the fees you paid for the transactions.

Visit web platform page

DEGIRO review
Mobile trading platform

5.0
DEGIRO's mobile platform has a basic but good design, and is pretty straightforward to use.
Pros Cons
User-friendly No price alerts
Two-step (safer) login No Touch/Face ID login
Good search function

The mobile trading platform is available in the language of your account.

Look and feel

DEGIRO's mobile trading platform has a great and clear design and is intuitive.

DEGIRO review - Mobile trading platform

Login and security

DEGIRO provides a safe login. You can set up two-step authentication through the web platform. 

However, you can't log in using biometric authentication. Providing this feature would be more convenient.

Search functions

The search functions are OK, but they are the weakest link of the DEGIRO app. You can search based on asset class. However, if you type "Apple," you do not know whether you're selecting an equity or an option.

DEGIRO review - Mobile trading platform - Search

Placing orders

Order management is the same as on the web platform.

DEGIRO review - Mobile trading platform - Order panel

Alerts and notifications

You can receive order confirmation messages in email, but price alerts are not available.

Visit mobile platform page

DEGIRO review
Desktop trading platform

DEGIRO does not provide a desktop trading platform.

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DEGIRO review
Markets and products

4.0
At DEGIRO you can access many markets and trade with a lot of different products. CFD and forex are not available.
DEGIRO asset classes
  DEGIRO Interactive Brokers Saxo Bank
Stock Yes Yes Yes
ETF Yes Yes Yes
Forex No Yes Yes
Fund Yes Yes Yes
Bond Yes Yes Yes
Options Yes Yes Yes
Futures Yes Yes Yes
CFD No Yes Yes
Crypto Yes Yes Yes

DEGIRO has a good product portfolio. From stocks to futures, you will find everything, except for forex and CFDs. In terms of stocks, options and futures, DEGIRO is really competitive. The broker's fund and bond selection, however, is average.

Stocks and ETFs

DEGIRO gives you access to 32 stock exchanges and more than 5,000 ETFs. The selection includes the biggest international markets as well as the smaller stock exchanges in Europe. You can also trade with penny stocks.

DEGIRO's stock and ETF selection are between that of Interactive Brokers and Saxo Bank.

DEGIRO stock and ETF selection
  DEGIRO Interactive Brokers Saxo Bank
Stock markets (#) 30 78 36
ETFs (#) 5,400 13,000 3,100

Funds

DEGIRO's selection of fund providers is narrow compared to Interactive Brokers. You can choose from mutual funds offered by big players like BlackRock or Vanguard.

DEGIRO mutual fund selection
  DEGIRO Interactive Brokers Saxo Bank
Fund providers (#) 68 260 17

Bonds

DEGIRO has an OK lineup of corporate and government bonds, but it compares poorly to IB or Saxo Bank in this respect.

DEGIRO bond selection
  DEGIRO Interactive Brokers Saxo Bank
Bonds (#) 870 72,900 40,000

Options

You can trade on 13 options markets at DEGIRO. This is a competitive selection, especially in comparison with Saxo.

DEGIRO options selection
  DEGIRO Interactive Brokers Saxo Bank
Options markets (#) 13 33 23

Futures

DEGIRO has a relatively narrow futures market coverage compared to Interactive Brokers and Saxo Bank.

DEGIRO futures selection
  DEGIRO Interactive Brokers Saxo Bank
Futures markets (#) 15 32 23

 

Cryptos

You can invest in Bitcoin and Ethereum through ETN instruments traded on the Swedish stock exchange. If you want to know more about crypto investing, we recommend our crypto blogpost

DEGIRO crypto selection
  DEGIRO Interactive Brokers Saxo Bank
Cryptos (#) 4 2 2

 

DEGIRO review
Research

3.0
DEGIRO provides limited research functions. There is a basic news feed and a simple charting tool.
Pros Cons
Data on asset fundamentals No trading ideas

Trading ideas

DEGIRO does not provide trading ideas at the moment. However, they will soon be available.

Fundamental data

Fundamental data is available only for some products.

DEGIRO review - Research - Fundamental data

Charting

The charting tool is rather basic, but enough for an execution-only trading platform. It is easy to use and comes with more than 20 technical indicators, and they can also be saved.

DEGIRO review - Research - Charting

News feed

You can access a basic news panel with short but informative market news both on the web and the mobile platforms.

Degiro review - Research - News feed

Compare research pros and cons

DEGIRO review
Customer service

4.0
Customer support is average at DEGIRO. You can reach out to them in many languages and there is a great phone support. On the other hand, there is no live chat and 24/7 availability.
Pros Cons
Phone support No live chat
Relevant answers No 24/7 support

Phone and email support are available, but there is no live chat service.

A big advantage is that you can contact the customer service in your own language if you are from one of the 18 countries supported.

DEGIRO'S customer support was OK. The phone support's response time was fast and we got relevant answers. The email support is mediocre, as its average response time was around 2 days.

We missed 24/7 availability. DEGIRO's customer support is only available between 7 a.m. and 9 p.m. on weekdays.

DEGIRO review - Customer Service

Contact customer service

DEGIRO review
Education

2.0
DEGIRO's education services could be better. The broker provides a limited set of tools that are available only through the Dutch and UK websites.
Pros Cons
Trading platform tutorial No demo account
Educational videos Available only in English and Dutch

At DEGIRO you can learn in the following ways:

  • Platform tutorial videos
  • General educational videos

There are videos that cover basic topics like asset classes and order terms. There are also videos about the trading platform, for example on how you can buy stocks via the DEGIRO web platform.

We missed services like a demo account, webinars and educational articles.

DEGIRO review - Education

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DEGIRO review
Safety

DEGIRO is a licensed investment firm regulated by top-tier financial authorities.
Pros Cons
Majority of clients belong to a top-tier financial authority Does not hold a banking license
Financial information is publicly available Not listed on stock exchange
Financial information is not publicly available

Is DEGIRO regulated?

Yes, it is regulated by the Netherlands Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB). Regulators of other countries where DEGIRO offers its services are also notified by DEGIRO and are aware of its operations. For example, in the UK, Degiro is registered with the Financial Conduct Authority (FCA).

DEGIRO is based in the Netherlands and was founded in 2008.

Is DEGIRO safe?

To be certain, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

When you open an account with DEGIRO you get investor protection for up to €20,000.

DEGIRO investor protection
Country of clients Protection amount Regulator Legal entity
All countries €20,000 Dutch Central Bank (DNB) and The Netherlands Authority for the Financial Markets (AFM) DEGIRO B.V.

Negative balance protection is not available.

Background

DEGIRO was established in 2008. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Most of the products you can trade with DEGIRO, like stocks and ETFs, are exchange-traded. Therefore you do not run a counterparty risk with DEGIRO. This is good news, as it means that if DEGIRO defaults your assets will still be safe.

Find your safe broker

DEGIRO review
Bottom line

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

It is far cheaper than its big European competitors and only Interactive Brokers comes close to competing with DEGIRO's fees. The account opening process is also fast, you will usually have your account ready to use within a day. It is also one of the best trading platforms for Europeans.

However, its low prices come with some shortfalls. Education and research tools are limited, there is no forex trading, and you can only deposit and withdraw money 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.

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