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Degiro: Popular European low-cost platform, but there’s no ISA

Insiders score

infoMore info
This is the score our team have awarded the platform based on our own personal experiences and other important factors, such as fees and ease of use.

3.5out of 5

Recommended in

Degiro was launched in 2013, in the Netherlands. It's now known as one of Europe's leading low-cost brokers, offering services to more than 3 million investors and traders in 15 countries throughout Europe.

pointActivate your DEGIRO investment account before 1 December 2024, DEGIRO will reimburse your transaction fees up to £100
pointThe offer is valid until (including) 30 November 2024
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By Clare West

check Fact Checked

3.5out of 5

point Activate your DEGIRO investment account before 1 December 2024, DEGIRO will reimburse your transaction fees up to £100
point The offer is valid until (including) 30 November 2024

Clare's view

The Verdict

Degiro is one of the largest brokers in Europe. It offers low cost trading that works out particularly economical if you're trading EFTs and UK stocks. It's a slightly unusual way of charging in that there are 'handling fees' and commission to pay with each transaction which can make comparison with other platforms slightly tricky but our analysis finds that it's good value in many instances (see extended 'Fees' section below for analysis). There's a potentially hefty price to pay if you decide to transfer out of Degiro, however, which it's advisable to know about in advance.

On choice, Degiro offer a good range of ETFs and stocks from 50 global exchanges across 30 countries, as well as bonds, funds, investment trusts, commodities and - for more experienced traders - derivatives, trading with margin, and short-selling.

The main issue for many investors will be the lack of an ISA. There's no personal pension either so you can only invest through a general investment account, which means you can't take advantage of those tax benefits of an Sometimes called an investment ISA, a stocks and shares ISA is an individual savings account that allows you to invest in shares, unit trusts, investment funds, and bonds. You will not need to pay tax on any income or capital gains earned on investments within an ISAISAinfo or A self-invested personal pension (SIPP) is a type of private pension that allows you to control the specific investments that make up your pension fundSIPPinfo.
arrow-down-orangeRead More
quote

Pros

  • Low trading costs for UK stocks, US stocks, ETFs and funds
  • No custody fees
  • Low FX fees
  • Wide range of assets and instruments
  • Free account upgrade available for those wanting to trade with leverage, short sell or trade derivatives
  • Excellent research and educational features
quote

Cons

  • Cannot invest through an ISA
  • Only a general investment account
  • Costly to transfer your portfolio out of Degiro (€ 20.00 per position)
  • No ready-made portfolios
  • Not covered by the FSCS (although protection from German deposit guarantee scheme)
  • No joint or corporate accounts available
  • Verdict3.5
  • Fees3.5
  • Trading Platform4.0
  • Research4.0
  • Safety4.5
  • Education4.5
  • Customer Service3.0
  • Corporate Actions3.5

Clare's view

Who do I recommend it for?

arrow-down-orangeRead More
quote

Pros

  • Low trading costs for UK stocks, US stocks, ETFs and funds
  • No custody fees
  • Low FX fees
  • Wide range of assets and instruments
  • Free account upgrade available for those wanting to trade with leverage, short sell or trade derivatives
  • Excellent research and educational features
quote

Cons

  • Cannot invest through an ISA
  • Only a general investment account
  • Costly to transfer your portfolio out of Degiro (€ 20.00 per position)
  • No ready-made portfolios
  • Not covered by the FSCS (although protection from German deposit guarantee scheme)
  • No joint or corporate accounts available
  • arrowVerdict
    3.5
  • arrow Fees:
    3.5
  • arrowTrading Platform:
    4.0
  • arrowResearch:
    4.0
  • arrowSafety:
    4.5
  • arrowEducation:
    4.5
  • arrowCustomer Service:
    3.0
  • arrowCorporate Actions
    3.5

update-icon

Updates

November 2024 Degiro grows to 3 million customers

Who do I recommend Degiro for?


The Degiro platform could suit those with skill levels between relatively inexperienced and experienced trader.

It may be too complex for absolute beginners, and at the other end of the spectrum, probably won't be advanced enough for highly skilled traders.

Degiro only offers a general investment account which is something we typically only recommend for those who have already used up their annual ISA allowance. That's because an ISA comes with tax benefits – namely, no income or capital gains tax. General investment account gains are liable for both.

Awards


FAQs

Yes, Degiro is safe. Although it's overseen by the Dutch and German regulators, the UK FCA deems that enough to cover authorisation in the UK. Deposits are protected up to EUR 100,000 through the German Deposit Guarantee Scheme. There is no protection through the UK FSCS however.

Yes, Degiro is a cheap platform. Trading on UK stocks and ETFs is particularly good value. The FX rate is also one of the lowest in the market.

Yes, those who wish to upgrade from a Basic account and can demonstrate the requisite knowledge, can apply for a short selling account.

Ask the Insiders


Have a question about Degiro that we haven't covered? Ask it here and we will get back to you as soon as possible!

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