Ready for a big boost?
DEGIRO is an online broker who arrived on the investment scene only few years ago. Still, it has outlasted the competition in a very short time, despite the initial untrust feeling (we must admit it, ours included).
There are a number of reasons why an investor is missing out more than one opportunity by not having a DEGIRO account. We have enclosed these reasons in 5 points.
Please note: opening an account with DEGIRO does not necessarily mean that you must close the trading account with your current broker, indeed! A DEGIRO account is even more efficient when used to complement other trading accounts that have different features (and prices).
1. The DEGIRO account is 100% free
DEGIRO offers a trading account, not a bank account. Rather, on such an account, you need to link your personal IBAN, by which you are allowed to deposit and withdraw your funds. Once the account has been funded, through the DEGIRO platform it will be possible to carry out the transactions on the markets and to hold the purchased securities in the portfolio.
Opening and closing an account is always free (and without minimum amounts). Account maintenance is also free of charge.
No inactivity costs; no platform fees; no custody costs; no withdrawal fees. Nada.
Suppose you want to buy £10,000 shares today, to resell them after 10 years.
Well, if we opened a DEGIRO account today to execute this strategy, the only costs we will sustain for the next 10 years are those relating to the purchase and sale of our shares (i.e. a handful of euros). That’s it!
2. Trading fees are outstanding
Probably you already know firsthand as an experienced investor: trading fees can have a significant impact on your market returns.
Your trades can be profitable on paper but then turns out that notional profits are swallowed by trading fees. That occurs especially when many trades are made during the year.
On some markets, DEGIRO has average commissions, but overall it has truly unbeatable tariffs, such as those applied to ETFs and US stock markets.
Without dwelling on this aspect, check through our calculator if DEGIRO is the most convenient broker based on your way to investing.
3. You can invest worldwide
A cutting-edge broker must allow the investor to access all markets worldwide. By not doing so, the broker takes potential opportunities away from him.
With more than 50 markets available, DEGIRO stands behind only to Interactive Brokers (120 markets). All other brokers offer fewer markets (e.g. Saxo Bank and Interactive Investor offering respectively 50 and 12 markets).
In addition to the classic European and US markets, with DEGIRO you can trade Canadian, Australian, Japanese shares, etc. Not bad!
4. Your money is safe and sound
The strict Dutch regulator does not allow DEGIRO to hold customer money. Rather, they must be invested in Money Market Funds, which invest in AAA government bonds repaid within 60 days (France, Germany, Netherlands, Sweden).
Or perhaps you think is safer to have money deposited in a bank?
5. Everything is simple
DEGIRO shines for its ease of use. And this is something we really appreciate.
Opening an account is quick and prevents you from running headfirst into the walls of the banking bureaucracy.
The trading platform is spartan (ok, for advanced traders maybe it’s a bit too much spartan) and can be used without frills even by those who do not have much experience.
The products we are interested in can be quickly found on the search engine. They can be added to the Watchlist or purchased/sold in just a few clicks. Their performances are monitored in our portfolio, either through the WebTrader or the user-friendly DEGIRO app.
These are just some of our personal considerations about the online broker DEGIRO, also supported by numbers: over 2,000,000 investors in Europe have opened an account with DEGIRO in less than 10 years.
If you want more information, read our official DEGIRO review, or visit the DEGIRO website.
