The name DEGIRO has become well-known in the world of stock trading. The company, which was founded in 2008 by many former workers of Binck Bank, launched its online trading platform in 2013. It has quickly developed into one of the top retail stockbrokers within Europe. With its headquarters in the Netherlands, DEGIRO had developed its online brokerage platform to include over 2 million accounts in 18 different European nations.
To establish itself as a benchmark, DEGIRO attacked the market with an aggressive strategy. As an online discount broker with multi-asset brokerage services in more than 84 assets, including equities, bonds, mutual funds, marketplace funds (ETFs), options, warrants, and much more.
It can distinguish itself apart from its rivals. By joining forces with German online broker Flatex AG in 2021, DEGIRO achieved a significant milestone in the share trading industry. With its own banking institution, it currently serves as the largest online implementation and operation broker in Europe.
- Despite having a large selection of instruments, degiro does not trade in currency pairs or cryptocurrencies, which are now offered to customers by the majority of other online brokers.
- But it is among the most dependable brokers in Europe, authorized by several financial watchdogs. The cornerstones of DEGIRO’s corporate strategy are innovation and transparency.
- With its absurdly low costs in all kinds of market instruments, DEGIRO separates out from the competitors as the top discount broker.
- DEGIRO doesn’t charge a fee for most of its non-trading services, including withdrawal, deposit, and inactivity, in contrast to the majority of other brokers. The procedure of opening a trading account with it is comparatively simple, as well as the trading platform is aesthetically pleasing and simple to use.
- AFM, DNB, FCA, & BaFin are just a few of the leading financial regulators in Europe where DEGIRO is registered. As a result, the investors’ money is secure.
- It’s hardly surprising that after a few years of offering its online brokerage services to commercial and retail investors, DEGIRO has been able to gain the trust and belief of over 600,000 clients.
DEGIRO provides its clients with access to more than 50 worldwide stock exchanges despite having a small portfolio of assets, expanding the potential for trading, or investing. But it overlooks important assets like Forex and CFDs. DEGIRO does not offer a demo account for novice traders, in contrast to other trading platforms. Its lack of real-time market price updates is the main worry. Prices are 15 minutes behind schedule. Real-time market prices require an annual charge from the trader.
In DAGIRO, there is only one payment option: bank transfer. Additionally, the platforms’ research capabilities are limited and do not provide sophisticated analytical functionality.
Regulation and Licensing by DEGIRO
The regulatory standing of DEGIRO is outstanding. After merging with Flatex AG in 2021, DEGIRO has its own banking license despite being a private corporation. Of course, DEGIRO are directly governed by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) & indirectly governed by the European Central Bank (ECB). Additionally, its operations and financial integrity are constantly monitored by the Dutch Central Bank (DNB) and The Netherlands Association for the Financial Markets (AFM). Additionally, the UK Financial Conduct Authority grants it legitimacy (FCA).
To provide a secure trading & investing environment and reduce the possibility of broker fraud and swindles, all these regulatory and licensing requirements are important. Each broker must adhere to strict requirements in order to obtain a license from the relevant authority.
Trading Platform DEGIRO
Simple is beautiful, as DEGIRO believes, as evidenced by the design of its trading platform. It is simple and functional, and it is available on mobile platforms and browser-based websites. The user interface is simple, intuitive, and convenient. It is the best paper trading app.
All essential features that a perfect trading platform should have been included with DEGIRO WebTrader. With integrated design elements, the developers have concentrated on enhancing the trading experience. The trader can get a comprehensive picture of his transactions and portfolio, as well as the most recent market news.
The work DEGIRO has done to protect user data and privacy has been excellent. It contains built-in security measures including facial ID verification and two-step authentication. However, the platform’s developers passed over the most fundamental necessity for live trading—price notifications. Although it provides a variety of charting tools, their customizability is constrained.