Intro

DEGIRO is a German-Dutch online broker established in 2008. The company merged with flatexDEGIRO Bank AG in early 2021, creating Europe's biggest online execution-only broker (meaning that financial advice is not available, just trading).

We selected DEGIRO as the Best discount broker and the Best broker for stock trading for 2023, based on an in-depth analysis of 90+ online brokers that included testing their live accounts. Check out the complete list of award winners.

DEGIRO main features and highlights
🗺️ Country of regulation Germany
💰 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 Not available
💱 Number of base currencies supported 9
🎮 Demo account provided No
🛍️ Products offered Stock, ETF, Fund, Bond, Options, Futures

If you want more in-depth information about DEGIRO, check out our detailed review!

DEGIRO offers one of the lowest fees on the market in all asset classes. Its web and mobile trading platforms are well-designed and easy to use. You can easily fund your account via bank transfer, while deposits and withdrawals are free of charge. These are the main reasons why we think DEGIRO is useful and easy to use even for beginners. On the downside, forex trading is not available, research tools are quite limited, and credit/debit card deposit is not possible.

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

At DEGIRO, you can access many markets and trade a lot of different products. CFDs (contracts for difference, an instrument that allows traders to bet on the price movements of an asset) and forex are not available, though. DEGIRO's stock selection is really competitive, as is its selection of options and futures (these are so-called derivative products, offering the opportunity to buy or sell an underlying asset at a predetermined future date and price). The broker's fund and bond selections, however, are quite average.

DEGIRO is regulated by top-tier financial authorities such as Germany's Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, or BaFin).

If you are unsure what some of these financial terms mean, don't worry, we put together a short glossary at the end of the review for better understanding!

Disclaimer: Investing involves the risk of loss

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DEGIRO Review for Beginners
Fees

Trading fees occur when you trade. These can be commissions, spreads, financing rates or conversion fees.

Here is an overview of the fees charged by DEGIRO:

DEGIRO fees snapshot
DEGIRO
US stock fees class Low
EURUSD fees class -
Mutual fund fees class Low
Inactivity fees class Low
DEGIRO non-trading fees
DEGIRO
Withdrawal fee $0
Deposit fee $0
Inactivity fee No
Account fee No

DEGIRO's trading fees are low for all asset classes. DEGIRO also has low non-trading fees, as there is no account fee, inactivity fee, withdrawal fee, deposit fee or custody fee.

On the downside, there is an unusual fee category called the "Exchange Connectivity Fee". This is charged for trading outside of your home market. You will pay a maximum of €2.50 per calendar year for each stock exchange you have used with the exception of your home market. For example, as a UK investor, you wouldn't have to pay for using the London Stock Exchange. However, an investor from Germany or France would need to pay €2.50 each year if they used the London Stock Exchange and another €2.50 for using the Stockholm Stock Exchange, etc. These charges will be applied if you carry out a transaction or hold a position on the specific exchange at any time during the calendar year.

In addition, the connectivity fee for US options markets is €5 per exchange per calendar month, so this would add up to €60 per year if you were to trade on one of these markets every month. The same is true for US futures markets.

If your account currency differs from the currency of the asset you want to buy, a currency conversion fee is charged. DEGIRO charges 0.25% of the transaction value (above the current spot rate).

DEGIRO Review for Beginners
Deposit & Withdrawal

DEGIRO deposit options
DEGIRO
Bank transfer Yes
Credit/debit card No
Electronic wallets No

DEGIRO deposits and withdrawals are free of charge via bank transfer. A big drawback, though, is that you can't deposit funds using a credit or debit card, and DEGIRO does not accept deposits from digital banks such as Wise, Revolut, Monese, Currencies Direct, Currency Cloud or PayPal; such transfers will bounce back immediately. This means that you can't save on currency conversion fees by using a digital bank.

In theory, the withdrawn amount should be transferred to your bank account within 3 business days. We tested it and actually received the money within 1 business day.

There is no minimum deposit. This is great if you want to invest small amounts only. At DEGIRO, you can choose from 9 base currencies.

DEGIRO Review for Beginners
Safety

DEGIRO is considered reliable as it is regulated by top-tier financial authorities and also comes with a banking background.

The legal entity behind the DEGIRO brand is flatexDEGIRO Bank Dutch Branch. As a German-regulated bank, flatexDEGIRO Bank AG is primarily supervised by the German financial regulator, the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). We consider being regulated by a top-tier regulator a good sign of safety for investors, and a big plus is that DEGIRO now also has a banking background.

Investor protection means that up to a certain limit, you get your money back if the broker goes bankrupt or commits fraud. The investor protection amount defines the limit of protection. This can vary from country to country, and also depends on the regulator that oversees the broker.

Investor protection at DEGIRO
Country of clients Protection amount Regulator Legal entity
All countries €20,000 for securities and €100,000 for cash Federal Financial Supervisory Authority (BaFin), Germany flatexDEGIRO Bank Dutch Branch

When you open an account with DEGIRO, you are eligible for investor protection for up to €20,000 in securities and, additionally, up to €100,000 of any uninvested cash.

DEGIRO Review for Beginners
Glossary

Here is a quick glossary to help you with some terms in our review:

Inactivity fee: a fee that is charged when a customer has not done any buying or selling on their brokerage account for a specific amount of time determined by the brokerage.

Deposit fee: this is charged when you send money to your trading account at a broker. The fee may differ depending on the method of transfer (i.e. bank card, bank transfer, e-wallets, etc.).

Withdrawal fee: an amount you need to pay when you withdraw money from your trading account, e.g. to your bank account.

Regulators: these are established by governments or other organizations to oversee the functioning and fairness of financial markets, including markets, exchanges and firms. They also oversee that investors are not fooled by scams, and in case of wrongdoing, they try to provide some level of financial and legal backing.

Investor protection: this means that up to a certain limit, you get your money back if the broker goes into bankruptcy or commits fraud.

Non-trading fees: charges not directly related to trading, such as deposit/withdrawal fees or inactivity fees.

Trading fees: these are charged when you trade; for instance, in the form of a commission, spreads, financing rates, margin rates or a conversion fee.

DEGIRO Review for Beginners
Where to find out more?

If you want to learn more about DEGIRO, go to our detailed review.

Learn about account opening at DEGIRO.

Read about DEGIRO's fees in detail.

Learn more about DEGIRO's safety features.

You can find out more about investor protection in our dedicated article.

To understand more about stock trading, go to our expert's explanation.

How do decide which shares to buy? Find the answer here.

How to start, how to buy shares online? Here you can find our tips.

In our article on brokerage fees, you can learn what these fees mean and what they entail.

Author of this article

Ádám Nasli

Author of this article

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Ádám Nasli

Analyst head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

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

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