DEGIRO Review: The Hidden Gems and Pitfalls You Need to Know

You’re sitting at your computer, browsing through the endless sea of brokerage platforms. One name keeps popping up: DEGIRO. But before you click that enticing "Open Account" button, there are crucial things you need to know. Let’s cut right to the chase: DEGIRO is not your typical brokerage. While its low fees might sound too good to be true, there are hidden gems that make it appealing—and pitfalls you might want to avoid.

So, what makes DEGIRO stand out, and where does it falter? Let’s dive into the details and uncover everything you need to know to decide if DEGIRO is the right fit for your financial future.

Low Fees: More Than Just a Marketing Gimmick?

At first glance, DEGIRO’s fee structure is its biggest selling point. They advertise themselves as one of the cheapest brokers in Europe, and that’s not just fluff. Their costs, particularly for European stocks, are astonishingly low. In a market where fees can eat into your returns, DEGIRO seems like a no-brainer for those trading frequently.

• Trading European stocks: €2.00 + 0.03% per transaction. Yes, you read that right.
• US stocks: €0.50 + $0.004 per share.

However, here’s the catch: while their fees are indeed low, they don’t offer a commission-free trading structure that some US-based brokers do. Platforms like Robinhood might lure you with their free trading model, but DEGIRO’s straightforward pricing keeps things transparent.

Platform: Functional, But Is It Modern Enough?

For the seasoned trader, DEGIRO's platform may feel like a breath of fresh air. It’s intuitive, simple, and focused on execution. But what if you’re used to the fancy interfaces that many newer platforms offer?

DEGIRO doesn't focus on flashy design. Instead, its web platform gets straight to the point: placing trades efficiently. While you won't find interactive graphs, customizable dashboards, or immersive trading tools, what you do get is speed and reliability.

But is that enough? For basic investors, absolutely. For power users or day traders, the lack of bells and whistles could be disappointing. Here’s where some traders might miss out:

• No direct access to US options markets.
• Limited advanced charting and research tools.
• No integrated news or live market data feed without an additional subscription.

DEGIRO’s platform thrives on simplicity. If you’re someone who values function over form, you’ll feel right at home.

Trust and Security: Where DEGIRO Stands

In the world of online trading, trust is everything. DEGIRO is regulated by the Dutch Authority for Financial Markets (AFM) and the Netherlands Central Bank (DNB). They also operate under stringent European Union guidelines. So, in terms of regulatory oversight, you’re in safe hands.

But, and here’s a major consideration, DEGIRO doesn’t operate like traditional brokers with a banking license. They keep client funds segregated, which offers protection in the case of their insolvency, but they aren’t covered by the same protections as some of their competitors, like the UK’s FSCS, which protects funds up to £85,000.

For many users, this is a deal-breaker. But here’s the twist: DEGIRO’s system of segregated assets does offer an extra layer of security, especially for European users. Still, understanding this difference is crucial to deciding if you’re comfortable with their structure.

Market Access: Great, But Limited?

DEGIRO allows access to over 50 international exchanges. You can trade everything from stocks and bonds to ETFs and even some derivatives. But, if you’re looking for comprehensive market access, you might feel a bit boxed in. Here’s why:

• No access to cryptocurrencies.
• Limited availability of futures and options for US traders.
• Restrictions on over-the-counter (OTC) markets.

For many European investors, these limitations might not be an issue. But for those in the US or more adventurous traders, it could mean having to open accounts with multiple brokers.

Customer Service: Reliable, But a Bit Slow?

Another key element to look at is customer service. For all its great features, DEGIRO’s customer support is a mixed bag. While they do offer phone support, there are no 24/7 services, and emails sometimes take days to get a response. This could be a deal-breaker if you’re someone who values instant feedback.

DEGIRO vs. Competitors: How Does It Stack Up?

So how does DEGIRO compare to other platforms? Here’s a quick breakdown:

Feature	DEGIRO	Robinhood	eToro	Interactive Brokers
Fees (Europe)	Low (€2.00/trade)	Free	Low	Low
Market Access	50+ exchanges	Limited (US-only)	17+ exchanges	135+ exchanges
Charting Tools	Basic	Limited	Advanced	Highly Advanced
Customer Service	Average	Poor	Good	Excellent

Final Thoughts: Should You Choose DEGIRO?

DEGIRO offers an excellent platform for low-cost investing, especially for European traders. But if you need advanced tools, comprehensive market access, or cryptocurrency options, it might fall short. Its simplicity is both its greatest strength and biggest limitation.

For the casual investor or someone looking for exposure to European markets, it’s a fantastic choice. For those craving a more robust, multi-functional platform, you may find yourself wishing for more.

The bottom line? DEGIRO is like a hidden gem—but only if you know what you’re looking for.