DEGIRO Review – Are They Safe or a Scam?
Check Our Ratings and Reviews for 2021
Is DEGIRO safe? We think so. Read our DEGIRO review to see why this site could be a great option for anyone wishing to take their online trading up a level. Just remember that cryptocurrencies aren’t available to trade yet.
What is DEGIRO? Simply put, it’s an online broker that gives you a safe and simple way to buy and sell a large number of assets like shares, ETFs, currencies, and much more. Plus, it has some seriously competitive transaction fees. So take a look below to see our DEGIRO experience and rating.
We didn’t find any special offers for new customers at DEGIRO, but we were made to feel very welcome at this online trading site. Everything about the DEGIRO site felt clearly organised, and there wasn’t too much of a problem in setting up an account. The registration process was completely free of charge, and it simply requires you to enter in your email address and then create your unique username and password.
From here you may have to enter in some more personal information in order to comply with the DEGIRO know-your-customer protocols. The good news is that the whole signing up process is fast and effortless. In fact, we went from tapping on the ‘Open an account’ button to executing our first trades in a matter of minutes. Even if you have a problem in setting up your account, you’ll find a useful help centre or you can even send the DEGIRO customer service team a message. All in all a positive start to our DEGIRO review.
We think that all levels of traders will be able to get started at the DEGIRO site. There’s a nice lack of jargon here, and we felt that everything was clearly explained and labelled. The DEGIRO site uses a crisp white and blue colour scheme which makes everything easily readable.
Our DEGIRO review found that the actual trading platform was a breeze to use. You’ll find it easy to browse all of the stocks and indices, and we liked the inclusion of the ‘Winners & Losers’ chart and Latest News feature.
We should also mention the fact that DEGIRO has come up with some stunning trading apps. These are available for iOS and Android mobile devices and they give you a great way to manage your assets on the go.
DEGIRO sets itself up as being a trading platform for many different kinds of users that cover everything from fairly passive savers to active investors. The good news is that our DEGIRO review found that everyone can get started at this site with the same basic account. This allows you to trade shares as well as ETFs, bonds, investment funds, and much more.
There’s no need to pay any fees for setting up your DEGIRO account, and this gives you access to the full range of assets on the trading platform. Once you’ve got set up, you’ll find that you can manage your assets from the same place that makes it just as easy to invest in the European exchanges as exchanges in Asia and North America.
If you’re looking to take things up a level, there are also active and trader accounts that give you the ability to go short with your trades and increase your margin by up to 100%.
Our DEGIRO review found that the brand features trading platforms that are simple yet reliable enough to get the job done. The web-based platform is tailor-made for executing your trades with just a few taps of your mouse button. Sure there are more advanced trading sites out there, but this is a nice choice for anyone who’s still getting to grips with investing online. We particularly liked the cool search feature that allowed you to hunt down your assets according to class, name and much more.
If we had any criticisms in our DEGIRO review, it would be the fact that it would have been nice to have had a few more ways to customise the trading interface. But to be fair, the DEGIRO trading platform offers a user-friendly way to buy and sell an impressive range of shares, currencies and much more. Things are just as easy when you use one of the DEGIRO apps for iOS and Android mobiles.
One of the main reasons why we had to carry out a DEGIRO review was the fact that this brand has a great reputation for having supremely low fees. It doesn’t matter what kind of asset you’re trading, DEGIRO somehow manages to be one of the best value trading platforms currently available.
This can be seen in the fact that you can do things like trade some ETFs free of charge once a month. Basic trades of £1,000 on the London Stock Exchange will cost £1.89 which is over 80% less than you would expect to pay at some leading competitors.
Of course DEGIRO has to pick up its costs somewhere. Our DEGIRO review found that you might incur fees for any currency conversions and there was a fee for something called exchange connectivity that we didn’t totally understand. Despite this, we are confident that there are no DEGIRO scams here.
We were pleased to see that DEGIRO is an online trading platform that cares about its customers. This can be seen in the fact that the broker site welcomes you to message its customer service team at any time to get help with any problems that you may have. All that you have to do is to click on the Contact Us icon in the footer of the homepage. From here, you can simply message the brand on its dedicated customer support email address.
We should also mention the fact that DEGIRO has a customer telephone number, although this is based in The Netherlands. Just so you know, the customer telephone helpdesk is only open between the hours of 0700 and 2100 on weekdays.
Our DEGIRO review found that it’s definitely worth checking out the brand’s help centre. This has a large number of FAQ articles that can serve as an excellent introduction to how this trading site works. Don’t forget that there is also a knowledge centre that can work wonders in taking your trading skill up a level. Plus with the full range of social media contact options on Twitter, Facebook and Instagram, you’ll get all of the help you need with your online trades.
We would never recommend that you use an online broker unless we had checked it out for security and regulation. The good news is that DEGIRO operates under a German banking license and that it offers plenty of security being one of the 160 largest listed companies in Germany.
The brokerage service falls under the supervision of the Netherlands Authority for the Financial Markets and the Dutch Central Bank. UK users of DEGIRO will be glad to see that this online trading site has been deemed authorised and regulated by the UK Financial Conduct Authority.
Your investments will be kept perfectly safe at DEGIRO. The brand states that it uses a ‘separate custodian entity’ to hold and protect your assets which means that they will be kept separate from those of DEGIRO. We should also note that DEGIRO operates a fully encrypted site with all of the necessary digital encryption technologies.
There is nothing in the way of a deposit guarantee system, but this is because DEGIRO is set up as an investment firm rather than a bank. Just so you know, DEGIRO is covered by the Dutch Investor Protection Scheme which can protect clients’ investments up to a value of €20,000.
DEGIRO has only been around since 2013, but the Dutch brand has already made a big impression in the online trading world. With bases in 18 European nations and well over one million investors using the service, it’s evident that DEGIRO is a rising star of the online broker industry.
This is something that has been reflected in the sheer range of awards won by DEGIRO over the past decade. Such awards include Best Stockbroker, Fairest Online Broker, Best Customer Service and Best Discount Broker.
The fact that DEGIRO recently joined forces with the Flatex bank adds a further layer of stability to the investment firm. So while DEGIRO is only just getting started, it’s easy to see why this brand is going places.
We have seen many positive DEGIRO reviews before and it’s easy to see why this is such a highly rated online trading platform. After all, it has all of the regulation that you should be looking for, it features a seriously user-friendly trading platform and it has some of the lowest fees of any online trading site that we’ve ever seen.
All of which probably won’t be enough to disguise the fact that DEGIRO currently has precious little in the way of cryptocurrency trading options. But with the ability to trade shares and currencies on over 50 exchanges, it’s easy to see why so many people choose to use this platform. So be sure to keep an eye on DEGIRO for when the brand eventually decides to introduce cryptocurrencies.