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DEGIRO Review

Steve Miley

November 9th, 2021

DEGIRO offers cheap stock trading on a modest trading platform, charging only £1.75 + 0.014% per trade, with a maximum charge of £5. Fees for trading funds, however, are more costly. DEGIRO does not offer ISA or SIPP accounts and lags competitors in fundamental research and education.

DEGIRO pros & cons

Pros:

  • Low fees for share trading.
  • Also has some of the lowest commissions for government bonds and ETFs.

Cons:

  • The trading platform and mobile app are average at best.
  • Lacklustre fundamental research beyond basic company information.
  • SIPP and ISA accounts are not available.

Overall summary

FeatureDEGIRO
Overall 4 Stars
Offering of Investments 3.5 Stars
Commissions & Fees 5 Stars
Platform & Tools 3 Stars
Research 2.5 Stars
MobileTrading 3.5 Stars

Commissions & fees

DEGIRO's fees for trading individual stocks in the U.K., Europe, and the United States are significantly lower than most offerings from other major U.K. online brokers, making it an attractive option for frequent traders or investors seeking a "no-frills" broker.

Stock pricing: The fee for trading individual shares in the U.K. is £1.75 + 0.014% per trade, with a maximum charge of £5. For U.S. markets, the cost is €0.50 + USD 0.004 per share (but with no maximum), while for European markets, the charges range from €2.00 + 0.118% up to €10.00 + .0168%. There is also an annual charge of €2.50 per calendar year per exchange traded on (outside of the LSE).

Fund pricing: Fees for trading funds range from €7.50 plus 0.10% for exchange-listed investment funds up to €75.00 plus 0.10% for non-exchange-listed investment funds. There is also an annual charge for holding unit trusts/funds (a custodial fee of 0.2% per annum).

Market data: By default, customers receive free delayed market data for available exchanges. To access real-time streaming market data, customers must subscribe to each exchange individually, by paying €2.50 to €10.00 per month (£4.50 for the U.K.).

Bottom line: Traders focused on stocks will appreciate DEGIRO’s industry-leading fees. Traders with a mixed approach of stocks and funds may find more to their liking at FinecoBank, which offers competitive commissions for stocks and better commissions for funds. For a no-frills, basic but user-friendly option with super low fees, investors may also want to look at the low/zero commissions offered by Capital.com, Trading 212 and Freetrade.

Scenario pricing: When calculating annual share dealing costs, trading frequency and account balance are the two most important factors to consider. Assuming a £30,000 portfolio in a traditional, taxable share dealing account, here are four scenarios of how much DEGIRO would cost based on trade frequency (assuming each trade is £5,000):

  • 5 deals per year (£5,000 trade value) = £12.25 (£2.45 x 5)
  • 12 deals per year (£5,000 trade value) = £29.40 (£2.45 x 12)
  • 36 deals per year (£5,000 trade value) = £88.2 (£2.45 x 36)
  • 120 deals per year (£5,000 trade value) = £294 (£2.45 x 120)
  • 3 fund deals per year (£5,000 trade value) = £67.50 (€7.50 plus 0.10%) + (.20% service fee) x 3

DEGIRO pricing summary:

FeatureDEGIRO
Minimum Deposit£0.00
Share Trading: 0-9 Deals/ Month£ 1.75 + 0.014% (Maximum £ 5.00)
Share Trading: 10-19 Deals/ Month£ 1.75 + 0.014% (Maximum £ 5.00)
Share Trading: 20+ Deals/ Month£ 1.75 + 0.014% (Maximum £ 5.00)
Annual Custody Fee: £0 - £250,0000.20%
Annual Custody Fee: £250K-£500K0.20%
Annual Custody Fee: £500,000 - £1m0.20%
Annual Custody Fee: £1m and over0.20%
ETFs - Fee€2 + 0.03%
Investment Trusts - Fee£ 1.75 + 0.014% (Maximum £ 5.00)
Telephone Dealing Fee£ 10.25 + 0.014%, max £5 (for LSE)

Mobile trading apps

DEGIRO's mobile app, like the desktop platform, is extremely basic in terms of research offered. However, on the plus side, the app is very user-friendly and straightforward to navigate. (See our 2021 picks for Best Mobile Trading Apps.)

The ability to create watchlists (described as "Favourites" on the DEGIRO platform) and trade directly from the mobile app is useful. The “Favourites” automatically synchronise between the website and the mobile app, which is not the case on some competitors’ apps.

In the charting package, pulling up an interactive chart takes you out of the app into a third-party website, which is far from convenient, whilst the charting tools are rather cumbersome in this format.

On the plus side, the DEGIRO app has face and touch ID for easy login, a nice feature.

Gallery

Other platforms & tools

DEGIRO has a minimalistic platform, trailing top competitors such as Saxo Markets and Interactive Brokers.

Charting: DEGIRO has improved its charting over the past couple of years, with pop-out interactive charts allowing traders to utilize 13 different indicators, nine drawing tools, and multiple chart types and views. Traders can even save chart templates. While it is a bit annoying to have to open a new web tab to access these features, it is still an improvement.

Overall though, the charting package offered by DEGIRO is average at best and this is an area in which the offering could easily be improved — particularly as the low fees are likely to attract investors who trade frequently and are more likely to demand an above-average charting platform (and mobile app).

DEGIRO trading tools:

FeatureDEGIRO
Desktop Platform (Windows) No
Web Platform Yes
iPhone App Yes
Android App Yes
Stock Alerts No
Charting - Indicators / Studies13
Charting - Drawing Tools9
Charting - Notes Yes
Charting - Display Corporate Events Yes
Charting - Stock Overlays Yes
Charting - Index Overlays Yes

Gallery

Research

Over recent years DEGIRO has significantly expanded its research offering. For most stocks, DEGIRO offers financial reports (balance sheet, income statement, cash flow) and information about upcoming dividends and earnings, as well as company overviews, key ratios, and even analyst ratings. DEGIRO also offers news coverage, with both articles and videos. Although DEGIRO's overall research experience has improved, the research available for individual shares does not compare to brokers such as Hargreaves Lansdown and Interactive Brokers.

DEGIRO research:

FeatureDEGIRO
Research - Shares Yes
Research - CFDs No
Research - Funds Yes
Fund Research - Research Reports No
Research - ETFs No
Research - Bonds No
Portfolio Allocation Breakdown No

Gallery

Offering of investments

DEGIRO offers its clients access to a broad range of investments, including stocks, funds, bonds and gilts, ETFs, options, and futures. DEGIRO currently provides access to 30 international exchanges, providing either Direct to Market access or Smart Order Routing (SOR) through Morgan Stanley. All 30 exchanges lie within Europe, North America, Asia, and Oceania.

Currently, DEGIRO only offers a general trading account. Unfortunately, U.K. clients cannot open an Investment Savings Account (ISA) or join a personal pension saving scheme (SIPP). The cheapest U.K. brokers that offer ISA/SIPP accounts are Freetrade, for both ISAs and SIPPs; and Trading 212 and Capital.com for ISAs only.

DEGIRO offering of investments:

FeatureDEGIRO
Share Trading Yes
CFD Trading No
Funds Yes
ETFs Yes
Bonds - Corporate Yes
Bonds - Government (Gilts) Yes
Investment Trusts Yes
Spread Betting No
Advisor Services No

Education

While DEGIRO's educational offering is limited, the content it does provide is of high quality. Built internally by the company, DEGIRO offers 10 educational videos through its Investor's Academy, which covers shares trading and the broader investment journey. A couple additional videos depict things like how to buy a stock or bond, and there are articles on technical and fundamental analysis, options strategies, compound interest, and dollar cost averaging.

Despite being a low-fee, no-frills broker, the area of education is one where we feel DEGIRO could expand on what is currently a good quality offering. We watch with interest.

DEGIRO education:

FeatureDEGIRO
Has Education - Share Trading Yes
Has Education - Funds No
Has Education - Retirement No
Client Webinars No
Client Webinars (Archived) No

Gallery

Final thoughts

If you are an investor looking for a low-cost way to trade stocks, DEGIRO is a solid choice. The trading platform is basic, but it is efficient and straightforward to use.

However, the low/zero commissions offered by Capital.com, Trading 212 and Freetrade are a challenge to DEGIRO’s low-fee, no-frills approach; and if you are a longer-term investor and require strong fundamental research, are looking for cheap funds trading, or want an ISA or SIPP account type, DEGIRO does not deliver.

About DEGIRO

Established in the Netherlands in 2013 by five previous Binck Bank employees, DEGIRO offers a low-cost alternative to the current range of brokerage platforms. Low trading fees and charges, alongside an advanced trading platform, have seen DEGIRO grow significantly (it is currently active in 18 countries) and it now cites more than 1 million customers.

Methodology

For the 2021 StockBrokers.com U.K. Review, we assessed, rated, and ranked 11 U.K. share dealing platforms over a 10-week time period. Each broker was exhaustively tested on all available platforms and graded on 53 different variables. In total, over 17,000 words of research were produced.

Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors with quality data they can trust. Our team.

About the Editor

Carolyn Kimball

Carolyn Kimball is managing editor for Reink Media and the lead editor for the StockBrokers.com Annual Review. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.


About the Author

Steve Miley

With 30 years of experience in institutional financial markets, Steve has won multiple awards from Technical Analyst Magazine, including "Best Independent Fixed Income" and "Best FX Research." In addition to his work with StockBrokers.com, Steve is the founder of The Market Chartist, where he provides market research for institutional clients; and is editor-in-chief for FXExplained.co.uk.








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All pricing data was obtained from a published web site as of 10/22/2021 and is believed to be accurate, but is not guaranteed. The StockBrokers.com UK staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

Deemed authorised and regulated by the Financial Conduct Authority. The nature and extent of consumer protections may differ from those for firms based in the UK. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.

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