Degiro Review 2020

Degiro review
Degiro Fees Explained

• Degiro withdrawal fees varies on payment method
• Degiro does not charge a fee for inactive accounts.
• Degiro doesn't charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company, brokers may charge clients various fees.

How Degiro Fees Compare Against Other Brokers

Broker	degiro	IC Markets	XTB	City Index
Min Deposit	0	200	0	25
Withdrawal Fees	varies	No	varies	Varies
Inactivity Fees	No	No	No	Yes
Deposit Fees	No	Varies	No	Varies
CFD Commission Fees		Yes	Yes	0.0015

Degiro review
Degiro Minimum Deposit

Degiro do not require a minimum desposit when opening a Degiro trading account.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

Degiro review
Degiro Withdrawal Fees

Degiro withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees and processing times.

Degiro for example allow you to withdraw your funds to and a bank account via a wire transfer.

Degiro review
Degiro Inactivity Fees

Degiro does not charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

Degiro review
Degiro Desposit Fees

Degiro does not charge deposit fees.

Some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

Degiro review
Degiro Commission Fees

Degiro does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

Degiro review
Trading on Degiro web platforms and other applications

Degiro offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

Degiro also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

Degiro Trading benefits :

• Low min deposit

Degiro Trading Accounts Offered :

• Demo account
• Micro account
• Standard account
• Islamic account

Can I try Degiro before I buy?

Degiro offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

Degiro withdrawal and funding methods.

Please note that the list of payment methods below depend on the Degiro Entity and the Clients Country of Residence.

Degiro offer the below funding payment methods. learn more about Degiro

• Bank Transfer

Broker	degiro	IC Markets	XTB	City Index
Bank transfer	Yes	Yes	Yes	Yes
Credit Cards	No	Yes	Yes	Yes
Paypal	No	Yes	Yes	Yes
Skrill	No	Yes	Yes	No
Payoneer	No	No	Yes	Yes
Neteller	No	Yes	Yes	No

How can I start trading with Degiro?

When opening a trading account with Degiro, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Degiro trading platforms here.

Your capital is at risk

Performing trades with Degiro

Degiro allow you to execute a minimum of trade of 0. This may vary depending on the account you open. Degiro allow you to execute a maxium trade of varies.

As a market maker, Degiro may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the instruments.

Education resources at Degiro

To trade effectively with Degiro, it's important to get a have a good understanding of the Degiro trading tools and the markets.

Degiro offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with Degiro.

Take time to look around the Degiro platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Degiro

Degiro support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

Degiro have a B grade support rating because sometimes the reposonse was slow or our query wasnt answered. Degiro offer email support and supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at Degiro

Degiro does not offer LiveChat Support.

Email Support at Degiro

We sent several emails to Degiro and answer times overall were excellent. The fastest response from Degiro was less than 40 minutes and the slowest response was 2 days. Support response times may vary for you with Degiro, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall average email support from Degiro.

Phone Support at Degiro

We called Degiro and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The Degiro phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual Degiro team by calling in varying languages. Degiro made an effort to make sure our queries were answered.

Overall the phone support from Degiro was average.

See how Degiro Support Compares Against Other Brokers

Broker	degiro	IC Markets	XTB	City Index
Support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support
Languages	English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian	English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more	English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish	English, Spanish, German, Arabic, Polish, and Chinese
Learn More	Visit Degiro	Visit IC Markets	Visit XTB	Visit City Index
Risk Warning	Your capital is at risk	Losses can exceed deposits	79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	74% of retail investor accounts lose money when trading CFDs with this provider

What you will need to open an account with Degiro

As Degiro is regulated by Financial Conduct Authority (FCA), The Netherlands Authority for the Financial Markets (AFM), The Dutch Central Bank (DNB), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under Degiro Brand may be different.

• A scanned colour copy of your passport, driving license or national ID
• A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore Degiro's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Degiro you can visit the Degiro trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.degirogroup.com on 12th August 2018.

Degiro review written by Andrew Blumer and Mark Hansen