Degiro App Review 2020 – Pros & Cons Revealed

Degiro is a popular online broker that allows you to invest in UK shares from just £1.75 per trade – plus 0.014%. While there are still cheaper options out there  – this offers tremendous value. Additionally, Degiro gives you access to thousands of other assets – including foreign stocks, bonds, ETFs, funds, and more. These asset classes can also be purchases in a cost-effective manner.

But, is Degiro the right stock trading app for you?

In this review, we cover everything there is to know about the Degiro app. We’ll explore fees, tradable shares, customer support, payment methods, safety, and how the Degiro matches up against the best stock trading apps in the business.

What is Degiro?

Degiro appLaunched in 2013 – Degiro is an online brokerage firm that is now home to over 600,000 investors. Although the platform is based in the Netherlands – it actually has a global presence.

In particular, Degiro is popular with those based in the UK. This is evident in the fact that the platform offers a dedicated website and stock trading app to UK traders.  In terms of its main offering – Degiro is what we would refer to as a ‘low-cost broker’. This is because you can invest in UK shares from just £1.75 plus 0.014%.

Crucially, this variable fee system also appeals to those investing large amounts – not least because the commission is capped to £5. Fees will vary when purchasing shares from other stock markets – which we cover in more detail later. Outside of its equity department, the Degiro app also offers ETFs, bonds, options, investment funds, and futures.

As such, it is home to a highly diverse asset library that should suit most investment requirements. In terms of the fundamentals, Degiro is also supervised by the Dutch Authority for Financial Markets (AFM) and the Dutch Central Bank. For those of you based in the UK, the app is registered, but not regulated, by the Financial Conduct Authority (FCA).

What Stocks Can You Trade on the Degiro App?

Put simply, Degiro gives you access to over 50 exchanges in 30 countries. This makes the platform one of the most diverse in terms of cross-border access. Before we get to that, let’s explore what UK shares you can invest in via the Degiro app.

UK Shares

If you’re looking to invest in domestic companies – the Degiro app has you covered. Not only will you be able to buy shares in firms listed on the primary London Stock Exchange, but also the AIM (Alternative Investment Market).

Regarding the former, this includes British heavyweights like BP, HSBC, Natwest Group, GlaxoSmithKline, and BT. And the latter – the AIM covers small-cap companies that are yet to make their way to the larger London Stock Exchange.

As such, this is great if you want to buy shares in up-and-coming stocks like Boohoo Group and AB Dynamics PLC.

International Shares

If you want to diversify by purchasing shares from non-UK markets, this can be achieved via the Degiro app with ease.

You’ll find the full list of international stock exchanges supported by the provider below:

Europe

  • Euronext Brussel
  • Euronext Paris
  • Xetra
  • Börse Frankfurt
  • Vienna Stock Exchange
  • SIX Swiss Exchange
  • OMX Copenhagen
  • Bolsa de Madrid
  • OMX Helsinki
  • Athens Stock Exchange
  • Budapest Stock Exchange
  • Euronext Dublin
  • Borsa Italiana S.p.A.
  • Oslo Stock Exchange
  • Warsaw Stock Exchange
  • Euronext Lisbon
  • OMX Stockholm
  • Prague Stock Exchange
  • Istanbul Stock Exchange

North America

  • NASDAQ
  • NYSE
  • Toronto Stock Exchange
  • Toronto Ventures Exchange

Asia and Oceania

  • Australian Securities Exchange
  • Hong Kong Stock Exchange
  • Tokyo Stock Exchange
  • Singapore Exchange

Other Asset Classes on the Degiro App

On top of the thousands of UK and international shares, our Degiro app review found that it gives you access to a wide variety of other asset classes.

Degiro asset classes

This includes:

  • ETFs
  • Futures
  • Leverage Products
  • Bonds
  • Options
  • Warrants

Degiro Account Types

The Degiro app offers five account types:

  • Basic
  • Active
  • Trade
  • Day Trader
  • Custody

However, if you are simply looking to invest in shares, ETFs, and funds – then you will automatically be placed on the basic account. This offers everything you need to invest via the stock trading app in a cost-effective manner.

With that said, the other account types do come with a range of additional perks – such as the ability to trade leveraged products, apply margin, and short-sell.

Below you will find a detailed table outlining what each account type offers.

BasicActiveTraderDay TraderCustody
Unprecedented low feesYesYesYesYesYes
Trade Shares, Bonds, Investment Funds, and Trackers (ETFs)YesYesYesYesYes
Trade Leveraged Products and WarrantsYesYesYesYesNo
Debit Money (buying on margin) is availableNoYes. Use up to 50% of your available marginYes. Use up to 100% of your available margin.Yes. Use up to 100% of your available margin with additional margin during trading hoursNo
Debit Securities (going short) is availableNoYesYesYesNo
Trade Derivatives (Options, Futures)NoYesYesYesNo
Free real-time prices on Euronext exchangesYesYesYesYesNo
Free dividend and coupon processingYesYesYesYesNo

Degiro Fees & Commissions

As we mentioned earlier, one of the main attractions of the Degiro app is that it offers a low-cost entry to stocks and shares. Before we get to that, we should note that the fee system utilised by the broker can be somewhat confusing at first glance.

This is because it uses both a flat and variable rate on most of its shares. In the case of US and Candian shares, Degiro uses a flat rate plus a fee per/share system. With all that said, the Degiro app does offer some of the lowest fees in the UK stock trading apps scene.

Here’s the lowdown:

Fees on UK Shares

Our Degiro app review found that all shares listed in the UK come with a dealing fee of £1.75 plus 0.014%. This is, however, maxed-out at £5 – which is great. For example, let’s suppose that you purchased £5,000 worth of BT shares. In doing so, the Degiro app would charge you £1.75 + £0.70 – totalling £2.45.

Degiro fees

On the one hand, this is substantially cheaper than the likes of Hargreaves Lansdown and Halifax, which charge £11.95 and £12.50 – respectively. Then you have the likes of HSBC and Barclays charging £10.50 and £6. However, there are actually cheaper options in the UK share market.

For example, FCA-broker eToro allows you to buy UK and international shares without paying a single penny in commission – nor are there any ongoing dealing fees. As such, if one of your main priorities is cutting share dealing costs – then eToro is arguably a much better option.

Fees on non-UK Shares

Each international share market that the Degiro app offers comes with its own fee system. While listing each and every fee is beyond the remit of this review, below we discuss the commission rates associated with the most traded exchanges.

  • If you want to buy stocks in American companies like Apple, Twitter, and Tesla – you will pay €0.50 + USD 0.004 per share. Once again, although this is super-cheap, it remains to be seen why Degiro utilises a fee system that consists of two competing currencies. If anything, this is confusing.
  • Most European exchanges – including those based in Italy, Spain, Sweden, Austria, and Norway – come with a fee of €4.00 + 0.05%. Although this is competitive, the maximum cap is somewhat high at €60.
  • Australian shares can be purchased at €10.00 + 0.06%. This is slightly expensive, as there are cheaper options in the market.

As there are so many exchanges available on the Degiro app – each of which cost differently, you are best to check your chosen exchange before placing an order.

ETFs

Our Degiro review found that the standard price for ETFs on the Degiro app is €2.00 + 0.03%. However, the platform gives you access to one free ETF each month. This needs to be from a select list of ETFs of which is updated every month.

Investment Funds

Investment funds also come with various costs. If opting for FundShare Cash or Morgan Stanley Liquidity Funds, you won’t pay any fees at all. Euronext Fund Services cost €7.50 + 0.10%, alongside an ongoing service fee of 0.20%.

Degiro investment funds

Currency Exchange Fees

As if often the case when investing in non-UK assets, foreign exchange fees will apply when you attempt to access an international marketplace. The Degiro app gives you two options in this respect. The one that you opt for should depend on the size of your position.

  • Automatic Conversion: As the name suggests, Degiro will perform an exchange of your behalf. For example, let’s suppose that your account is in GBP but you sell a US-based stock. As soon as the sale is made, the proceeds in US dollars will be automatically converted to GBP. This option comes with an FX fee of 0.1% above the current spot rate – which is very competitive.
  • Manual Conversion: This option essentially gives you access to a multi-currency brokerage account. As per the example above, selling a US-stock would mean that your Degiro account will hold US dollars. You would then need to manually convert this to GBP. Coming with a fee of €10 + 0.02%, this option is better suited for large trade sizes.

Degiro App User Experience

Had we written this Degiro app review several months ago – our feedback would have been a lot different. This is because the old Degiro website and mobile app was nothing short of complex. It was super-difficult to navigate through the platform – especially when it came to finding the specific stock you wanted to invest in.

New Degiro app

However, it is notable that Degiro listened to the feedback of its users by completely revamping its site. As such, the Degiro app is now clean and crisp – making it perfect for investors of all shapes and sizes. For example, funding your preferred marketplace can be achieved in a number of ways.

Buy shares at Degiro

You can browse the asset library manually by utilising the filter system. Or, you can simply search for the stock that you want to purchase. The process of placing an order is also a lot easier than it once was, albeit, it’s still a little more complex than other stock apps in the space.

Degiro App Tools

If you’re looking for the full Degiro service, then you will likely need to use the platform’s main website. This is where you will find an array of technical indicators, chart drawing tools, trading strategies, cost calculators, and more. With that said, you will still have access to a number of tools when using the app, such as:

Multiple Order Types

If you’re looking to place more sophisticated stock trades, the Degiro app offers heaps of order types.

This includes:

  • Day Order
  • Good Till Cancelled
  • Limit Order
  • Market Order
  • Stop Loss
  • Stop Limit
  • Trailing Stop

Leverage Products and Margin

As long as you are not on the Custody account, you will have access to leverage products. Once again, this is suitable for those of you with more experience in the online trading scene. You can also buy assets on margin at 50% or 100% of your account balance – with the amount depending on your account type.

Short-Selling Facilities

our Degrio app review found that some account types on the Degiro app allow you to short-selling assets. This will be of great interest if you feel that a stock or bond is overvalued. If it is, you have the opportunity to profit from a falling marketplace.

Pricing Alerts

Surprisingly, neither the Degiro app nor the main trading website allows you to set up pricing alerts. This is a major shortfalling and surely something that the provider will look at in every near future.

Degiro App Education and Research

The main Degiro website comes jam-packed with educational resources. This includes heaps of mini-lessons that cover the ins and outs of trading, investing, strategies, and complex financial products.Degiro research tools

There are also blogs on all-things investing and handy how-to guides. However, none of this available on the Degiro app itself. Instead, you will need to access these resources via your mobile web browser.

Degiro news

On the flip side, the Degiro app does come with a fully-fledged newsroom. This is actually fairly compressive, with dozens of financial developments being published throughout the trading day.

Degiro App Bonus

While the Degiro app doesn’t offer a signup bonus per-say, it does provide a refer-a-friend program. For each friend that you refer to the platform, you will receive a £20 refund in transaction and trading fees.

Degiro App Demo Account

Unlike other UK stock apps in the space, Degiro has chosen not to offer a demo account facility. Once again, this is a shortfalling that we feel should be addressed by the provider. After all, demo accounts are not only great for learning the ins and outs of investing, but also testing out new strategies.

Payments on the Degiro App

When it comes payments, you’ll want to choose a stock app that offers instant and cost-effective deposits. In the case of Degiro, the only option that you will have is to perform a UK bank transfer. This is somewhat frustrating, as it means that you will need to wait a few days for the funds to arrive. As such, you might miss out on a potential investment opportunity.

Other stock investment apps in the space like eToro, Plus500, and Capital.com allow you to instantly deposit funds with a debit/credit card or e-wallet.

Degiro Minimum Deposit

On the other hand, it is notable that Degiro does not have a minimum deposit policy in place. As such, you can deposit as little as you like. Furthermore, the Degiro app does not charge any deposit or withdrawal fees.

Degiro Contact and Customer Service

When you click on the respective support button on the Degiro app, you will be redirected to the mobile browser version of the site. There, you will be given the telephone number and email address that should be used to speak with a member of the team. It is regrettable that the Degiro app does not provide a live chat facility, as this is by far the most convenient option.

Is Degiro Safe?

Our Degiro review found that it has a reputation as a safe and secure brokerage firm. After all, it has attracted over 600,000 active traders since its launch in 2013. In terms of regulation, it is important to note that Degiro is registered, but not regulated by the FCA. Instead, it is supervised in the Netherlands.

This includes the Netherlands Authority for the Financial Markets (AFM) and the Dutch Central Bank. One the one hand, this does mean that you will not fall under the remit of the FSCS £85,000 protection scheme.

On the other hand, the AFM has an investor protection program of its own – which stands at €20,000. This is, of course, much lower than what UK investors get with brokers that are partnered with the FSCS (such as eToro).

How to Use the Degiro App

If you want to use the Degiro app to buy and sell shares, bonds, ETFs, and more – follow the steps outlined below.

Step 1: Download the Degiro App

To ensure you are downloading the official Degiro app, head over to the provider’s homepage through your mobile phone. Then, you’ll need to select the respective operating system (iOS and Android) and install the app.

Step 2: Open an Account

Register at Degiro

You will now need to open an account. The Degiro app will collect a range of personal information from you, such as:

  • First and Last Name
  • Home Address
  • Date of Birth
  • National Insurance Number
  • Contact Details

You will also need to answer some questions about your historical investment experience, alongside your income band.

Step 3: Transfer Funds

Degiro uses a slightly different approach to KYC, insofar that it asks you to transfer funds from your personal bank account to active your brokerage account. While this needs to meet a minimum of just £0.01, it is crucial that the funds only come from a UK bank account that matches your name and address.

Anything different and Degiro will reject the transfer and subsequently send the funds back to the same account. As is always the case with a bank transfer, this part of the process can take several days. Until the funds are credited by Degiro, you won’t be able to use the app to invest.

Step 4: Seach for a Stock

As soon as your bank account transfer is credited, you will receive an email from Degiro. This then means that your Degiro account is activated and you can proceed to make an investment. The easiest way to do this is to search for the shares you want to purchase. In our example, we are searching for ‘Royal Mail’ stocks.

Buy shares at Degiro

Step 5: Set up an Order and Buy Shares

Once you have searched for the stock you wish to invest in, you will then be asked to set up an order. This is the part of the process can appear somewhat intimidating – especially when using the Degiro app.

Buy shares at Degiro

Nevertheless, if you simply want to purchase the shares at the current market price, click on the ‘Limit’ field and change this to a ‘Market’ order. In terms of entering your stake, you will need to select the number of shares that you wish to buy. Then, the ‘Amount’ box will update in pounds and pence – or the respective currency of the stocks you are buying.

Finally, click on the ‘Place Order’ button to confirm your share investment.

How to Sell on Degiro App

Selling shares in the Degiro app works in exactly the same as the purchasing process explained above – but in reverse. That is to say, you simply need to click on the stock that you want to sell (from within your portfolio), alongside the number of shares.

If you want to offload all the shares, there is a button that allows you to do this. Once you confirm the sale, the cash will be reflected in your Degiro app balance within a couple of seconds (permitted that it’s during normal market hours).

Degiro vs eToro

Degiro sits well within the scope of a low-cost brokerage app – especially when it comes to buying UK stocks. After all, you will pay just £1.75 + 0.014% per trade – with the commission capped at £5. However, Degiro is anything but the most cost-effective option in the stock trading arena. On the contrary, there are much better options in the market.

At the forefront of this is eToro, which offers one of the very best stock trading apps in the business The FCA-licensed investment app allows you to buy shares without paying a single penny in commission. There is no ongoing charge, nor do you need to pay a premium to invest in foreign companies. This is commission-free offering is available across 1,700+ shares from 17 stock exchanges.

Charge per TradeAnnual FeeInactivity FeeDeposit/Withdrawal Fees
Degiro£1.75 + 0.014% on UK stocksNothing on stocks, variable fee on funds£0£0
eToro£0£0£8 per month (after one year)£4 per withdrawal

With that said, it’s not just fees and commissions that has resulted in us choosing eToro over Degiro – as there are many other metrics to consider. For example, while the Degiro app only allows you to fund your account with a bank account transfer, eToro supports debit cards, credit cards, Paypal, Skrill, Neteller, and more. This means that you can deposit and invest instantly.

Additionally, the Degiro app is severely lacking in features. For example, eToro allows you to copy other trades, set up pricing alerts, and even purchase ‘fractional’ shares. In terms of user-friendliness, it must be noted that the Degiro app is now a lot easier to use than it once was. However, it is still not as straight forward as eToro – especially when it comes to placing orders.

Finally – and perhaps most importantly, eToro is authorised and regulated by the FCA, while Degiro is only registered with the UK body. As a result of this, you won’t benefit from the £85,000 protections of the FSCS at Degiro, while you do with eToro.

Degiro Stock App Pros & Cons

Below you will find an overview of our Degiro stock app findings.

Pros

  • Buy UK shares from just £1.75 + 0.014% (maximum £5)
  • Free deposits and withdrawals
  • Over 600,000 account holders
  • Thousands of UK and international stocks listed
  • ETFs, funds, bonds, options, and other asset classes supported

Cons

  • No support for debit/credit cards or e-wallets
  • Confusing commission structure that often consists of two currencies
  • Not FCA regulated and no FSCS protection
  • A somewhat complex investment process
  • No in-app live chat support

The Verdict

In summary, it is notable that the Degiro app allows you to buy UK shares at just £1.75 + 0.014% – with a maximum commission cap of £5 in place. In this sense, the app is significantly cheaper than the likes of Hargreaves Lansdown or HSBC. However, the broker does fall short in a number of other areas.

For example, the platform is not partnered with the FSCS and you can only deposit funds with a UK bank transfer. It also remains to be seen why the Degiro app has such a confusing commission structure, where fees are often based on a mixture of pounds, euros, and dollars.

The app also lacks certain fees – such as the ability to buy fractional shares, set pricing alerts, or copy other traders. This is why we personally believe that eToro is a much better option. This FCA-licensed, FSCS-partnered broker allows you to buy shares in a 100% commission-free manner – and supports instant deposit methods like debit/credit cards and e-wallets.

You can get started with the eToro stock app right now by clicking on the link below!

eToro – Buy Shares with 0% Commission

75% of retail investor accounts lose money when trading CFDs with this provider.

FAQs

What device is the Degiro app available on?

As is the case with most stock trading apps - Degiro is available on both iOS and Android.

What shares can you buy on the Degiro app?

The Degiro app is home to one of the largest offerings of stocks and shares. In fact, you will have access to thousands of shares across 50 exchanges and 30 countries.

Is the Degiro app legit?

Yes, the Degiro app has an excellent reputation in the mobile brokerage arena. The provider is supervised by the AFM and Dutch Central Bank, albeit, it is not regulated by the FCA - only registered.

What payment methods does the Degiro app support?

The Degiro app only supports UK bank transfer - which can take several days to arrive. If you're looking for a stock app that supports instantly payment methods - eToro accepts debit/credit cards and e-wallets.

What is the Degiro minimum deposit?

The Degiro app does not come with a minimum deposit amount.

About Kane Pepi

Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner.