German-Dutch online broker DEGIRO was founded in 2008. Early in 2021, the company joined flatex DEGIRO Bank AG to create Europe’s biggest online execution-only broker. This is one of the best online forex brokers for beginners.
Our decision to choose DEGIRO as the best discount broker and the best broker for stock trading in 2022 was made after a comprehensive review of more than 90 online brokers, which includes testing them using real money accounts.
One of the lowest market fees across all asset classes is offered by DEGIRO. Both it is mobile, and web trading platforms are simple and well-designed. Deposits and withdrawals are free, and you may quickly fund your account via bank transfer.
These are the key explanations for why we believe DEGIRO is useful and simple enough for beginners to use. The lack of FX trading, comprehensive research resources, and the impossibility of credit/debit card deposits are drawbacks.
Dividend Withholding DEGIRO
Tax liability may be applied when you would be subject to tax on your income from financial instrument investments. Dividends fall within this category, and DEGIRO helps to hold tax on dividends at various rates depending on the country. In Germany, the maximum dividend tax is set at 50%.
External handling fee
DEGIRO charges a minimal fixed fee of $100 per trade on all assets to cover external costs. The handling fee does not apply to any Trade gate transactions or options, futures, Core ETF selection, or options.
A German regulatory body, is responsible for supervising them even though Swiss authorities and regulators like FINMA do not control them.
In light of this, they are respectable, and you can easily open an account with them to test things out despite neither having a Swiss office nor being subject to local regulation.
User Experience with DEGIRO
Checking a broker’s web ratings is one approach to learning how customers feel about it. Star ratings are frequently used in trading to gauge how clients feel about a broker.
On Degiro, what can you trade?
Customers of DEGIRO have access to 50 exchanges in 30 various countries. The following market items can be traded on its platform: –
Stocks – This is one of the best paper trading platform offers stock trading on various European exchanges, where market orders are handled using either “Direct to Market” or the “Morgan Stanley Smart Order Router.” For securities trading, various order types are available, including day orders, GTC orders, limit orders, exchange orders and stop loss orders.
The stop order, however, is only accessible for the Xetra and Frankfurt exchanges. DEGIRO allows the trading of equities as long as the exchange where they are listed is supported. Additionally, DEGIRO automatically updates your cash holdings to reflect dividends paid on investment assets.
ETFs: In addition to facilitating trading in ETFs on European markets, it also does so on the Singapore Exchange and the Hong Kong Stock Exchange. ETF trading includes all order types that are accessible for trading stocks.
Bonds: It offers bond trading on European exchanges via the “Direct to Market” approach with all available order types.
Trading options are offered by DEGIRO on international markets, including Eurex, CME, MEFF, etc. Option orders can be placed using any order type, excluding stop loss and stop loss.
Futures: DEGIRO provides futures trading on exchanges like Dite, Stock exchange OMX Nordic-Helsinki, Eurex, and others via the “Right to Market” method. Like options, futures trading does not provide order types like stop loss and stop limit.
Leveraged Products: It offers trading in leveraged products on exchanges like Telecoms operator Access France, Xetra, and Börse Berlin via the “Direct-to-Market” method. These goods can only be traded using market, limit, and daily orders.
DEGIRO does not allow trading in other asset classes like CFDs, FX, or cryptocurrencies like Bitcoin. Only ETFs that invest in these types of assets can, at most, be exchanged there.
DEGIRO is the best paper trading platform which provides the ability to trade across many platforms in a variety of market products, making it the most reasonable solution. Its trading interface is simple to use and easy to explore. But DEGIRO does not support CFDs, FX, or cryptocurrency.