IS DEGIRO RELIABLE?

Do I like DEGIRO?
Meh. It depends. I don't use it (and I wouldn't).

Is DEGIRO a scam?
No. DEGIRO is a properly regulated broker, not a scam.

So what's wrong with DEGIRO?
A broker like DEGIRO isn't suitable for traders. Its platform is as simple as it is basic; it's designed for people who buy more on intuition or impulse than anything else. Certain hidden costs the broker charges don't help either.

Is DEGIRO's customer service at least good?
Let's just say they could improve... quite a bit.

So, do I recommend DEGIRO?
I prefer other options. But if you're only investing long-term with ETFs, it might be useful, but again: I wouldn't use it.

You can see my ranking of the best stockbrokers here

DEGIRO's safety and reliability

Based in the Netherlands, DEGIRO is supervised by the Dutch Financial Markets Authority (AFM) and the Dutch Central Bank (DNB) . Furthermore, the broker is part of FlatexAG , which is also regulated by the German Federal Financial Supervisory Authority ( BaFin )

The issue of its regulation may seem somewhat complex, so I will summarize it for you in the following lines:

• DEGIRO is the trading name of the financial services company flatexDEGIRO Bank Dutch Branch. It is a Dutch branch of flatexDEGIRO Bank AG. This subsidiary is the one supervised by the AMF.
• In turn, the parent company, i.e. flatexDEGIRO Bank AG, is supervised by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin).
• It is subject to EU regulations and is licensed to operate in any member state. You can find the name flatexDEGIRO on the Spanish National Securities Market Commission (CNMV) website. This company is listed as a credit institution operating under the freedom to provide services throughout the EU (registration number 516).

In any case, the important thing is that DEGIRO is properly regulated by the competent financial authorities. Therefore, it has no possibility of committing fraud or engaging in malpractice. The broker is subject to European regulations (MiFID).

Available assets:

You can trade stocks, ETFs, funds, bonds, options and futures in a wide variety of markets around the world.

DEGIRO Trading Platforms

DEGIRO has its own trading platform, which does not require downloading (it uses webtrader technology), in addition to the corresponding mobile application.

The DEGIRO trading platform has its advantages and disadvantages. On the one hand, it is simple, intuitive, and has the necessary functions for efficient trading . Its interface is attractive.

However, for experienced active traders, this may not be enough. This is because there are platforms with a more customizable work environment and more advanced features.

In any case, for novice traders and those who do not need constant market analysis and monitoring, this tool is perfectly effective.

Navigating the platform is easy. Initially, you'll see an overview of the markets, and you can move through their features via the menus to perform actions like these:

• Monitoring, control and management of your open positions.
• View transaction history.
• To manage deposits, withdrawals, purchases, sales and all operations you have carried out with your trading account at DEGIRO.
• Schedule, view and manage pending orders.
• Obtain tax reports on your operations.
• Set up favorites lists to make tracking financial assets easier.

DEGIRO is characterized by its continuous improvement of its tools and services based on investor preferences. Furthermore, the trading platform offered is designed according to the needs of its clients.

In addition, the mobile app is also available. It's a slightly smaller version, but essentially the same, as the desktop platform. This software has been chosen as a favorite among investors.

You can download the DEGIRO App from the Google Play Store (if your device uses an Android operating system) or the App Store (if it uses iOS).

DEGIRO Customer Service

Along with competitive fees and access to a wide range of markets, customer service is one of DEGIRO's strongest points. Simply put, this broker was founded to serve professional investors, and therefore, these features are well-developed.

In addition to having competent staff to resolve any doubts or problems that investors may have, DEGIRO has enabled different contact mechanisms, such as an email address, telephone, help section and frequently asked questions on its website.

In fact, you have different emails available depending on the type of query (account security, sending orders or instructions on corporate actions).

If the client has any urgent questions, they can contact the broker by phone from Monday to Friday and from 08:00 to 22:00 hours (from 17:30 to 22:00 DEGIRO has another special telephone number available that is not in Spanish).

DEGIRO allows you to trade with different types of orders , which can be executed in various ways. You can place an order through the trading platform, by email, or by phone. However, the terms and conditions may vary depending on the method used.

Furthermore, the broker also offers a range of training courses , which you can find on its website. The Investor Academy serves as the main knowledge center, but you can also learn how to trade with this broker and understand the characteristics of the different financial assets available.

My experience with DEGIRO

I must confess that my experience with DEGIRO hasn't been bad. But it's true that I didn't fall in love with this broker, and therefore DEGIRO isn't one of my go-to brokers today (I basically opened an account with this broker for the purpose of evaluating it for this review).

DEGIRO is looking for investors who prefer to trade stocks and ETFs in the long term. It's not a broker I would choose for short- to medium-term trading. Nor is it a broker for trading cryptocurrencies or Forex.

In favor of DEGIRO I can say that it is a very safe broker, so your money is not at risk.

It is also true that many users have complained about unjustified changes in the commission policy.

What I can tell you about DEGIRO is that it's not a bad broker, but based on my own experience and that of several colleagues I talk to about investments, I think XTB or Interactive Brokers might be better options. It all depends on the type of trading you're interested in.

User reviews: Advantages and disadvantages of DEGIRO

According to some of the main investment portals, the broker has a positive average rating with "satisfied" reviews, due to characteristics such as the following:

• It is easy and very cheap to invest in domestic or US stocks, as well as in ETFs (it even has more than 100 free ETFs).
• It has a very broad offering, with exposure to 30 international stock exchanges. 
• On the downside, as the investor becomes more professional, they miss having more trading optionswith analytical tools.
• However, its average rating tends to be 4/5  on most public portals and forums (Rankia, Brokerchooser, El Economista).

On the other hand, one of its drawbacks is its commission policy, which is often criticized by users, and rightly so. You can read more about this in this article from El Confidencial.

Frequently Asked Questions

What is DEGIRO and how does it work?

DEGIRO is an online broker that allows users to invest in a variety of financial instruments, such as stocks and ETFs, through an easy-to-use platform. It acts as an intermediary between the investor and the financial markets.

What are the main advantages of using DEGIRO?

The main advantages of using DEGIRO include low fees, a wide variety of financial instruments, and an easy-to-use platform.

What disadvantages does DEGIRO have?

Some disadvantages of DEGIRO are the lack of support for Forex and cryptocurrencies, an interface that can be confusing for beginners, and customer service that could be improved.

Is it safe to invest with DEGIRO?

Yes, DEGIRO is safe. It is regulated by financial authorities in several countries and employs security measures to protect its users' data and funds.

How can I open an account with DEGIRO?

To open an account with DEGIRO, you must visit their website, complete the registration form with your personal information, and follow the steps indicated to verify your identity and make your first deposit.

What alternatives exist to DEGIRO?

If DEGIRO doesn't suit your needs, you can consider other options such as eToro, Plus500, or XTB, which also offer a variety of financial instruments and investment services.

🛡️ Legal notice

The opinions shown are from real users and have been collected from external platforms. Some are presented as screenshots to preserve their original format.

The analysis and comparative assessments are prepared by the author of this article for informational purposes. We recommend always consulting the official terms and conditions on each company's website before making any decisions.

Norberto Viale( Trader and founder of Experiencia Topstep )

My name is Norberto. I've been investing and trading for over a decade. I'm also the author of the trading course Experiencia Topstep. If you want to learn how to invest and have any questions, feel free to contact me.