Degiro Ireland review

Any special offers?

As of September 2021, Degiro is offering a referral promotion to all existing users. If you invite your family, friends or colleagues to sign up to Degiro using your referral link, you will receive a €20 transaction fee reimbursement.

About Degiro

Degiro is a wholesale online broker, providing services for traders of every kind. Founded in 2013, Degiro began in the Netherlands and has since expanded into 18 European countries — including Ireland.

Degiro’s international reach means it offers a highly competitive commissions structure and full access to the worldwide marketplace. It currently has five account types for traders to choose from: custody, basic, active, trader and day trader accounts.

Why invest with Degiro?

Degiro provides its traders with a world-class trading platform at a low price alongside access to a truly global marketplace. With Degiro, you can currently trade shares , bonds, options and futures in Ireland. Leveraging their international reach, they allow their traders to access not only the usually-traded UK and US markets but also the more uncommon ones—Australia and Japan, among others.

Tools and features

Degiro offers two different platforms for investors, a web trading platform and a mobile app. Here are some of the features offered on each platform:

• Investor’s Academy. Degiro offers a comprehensive collection of articles explaining the different financial products one can trade, order types, risk management, technical analysis and more.
• Custom Order Types. Like most brokers today, Degiro allows you to exercise various types of limit and stop orders instead of simply trading financial instruments at the current market price.
• Notifications. While Degiro does not offer price-alert notifications or real-time order notifications by text message, you will still receive an email for every successful order executed.
• Real-time News. Degiro helps you stay informed with the latest press releases and analyst ratings issued about the broader market as well as specific companies you are interested in.

Which markets can I invest in?

Degiro allows you to invest in a range of different markets depend on which financial instrument you’re interested in.

• Shares

  Shares are one of the most popular ways to trade and invest.

  • Choose from shares in the European, North American, Asian and Oceanic exchanges
  • Enjoy low rates that were once exclusive to professional traders

• Exchange Traded Funds (ETFs)

  With an ETF, you can track a range of stock market indices and commodities effectively and cheaply.

  • Degiro offers approximately 200 Commission-free EFTs for users in Ireland
  • Choose from a wide range of ETFs and find the right one for you

• Futures

  Degiro offers traders the option to purchase Futures contracts, which are a great way to diversify your trading portfolio.

  • Available to active, trader and day trader account holders in Ireland
  • Trade futures across 11 available countries

• Bonds

  As a fully rounded trading platform, Degiro also gives traders in Ireland access to bonds.

  • Choose from a variety of bonds across several countries to find the right one for you
  • Available to all account holders

• Options

  Options allow traders in Ireland to stay flexible and commit only to transactions they are comfortable with.

  • Choose from options among 11 markets (inc. the US) with Degiro
  • Availability of various spreads on your options such as call spreads and put spreads

Is Degiro trustworthy?

Degiro is a multi-award-winning online stockbroker. It is regulated and supervised by The Netherlands Authority for Financial Markets (AFM), the Dutch Central Bank (DNB) and the Financial Conduct Authority (FCA) in the UK. However, as with any investment or trading opportunity, your capital is always at risk. Only invest amounts that you are prepared to lose.

What are Degiro’s account types?

Custody

• Trade Shares, Bonds, Investment Funds, and ETFs

Basic

• Trade Shares, Bonds, Funds, ETFs as well as leveraged products and warrants
• View complimentary real-time price changes on Euronext exchanges
• Complimentary dividend processing

Active

• Trade Shares, Bonds, Funds, ETFs as well as leveraged products, warrants and derivatives
• Trade on margin (limited to 50% of total accessible margin)
• Shares short-selling
• Complimentary real-time price changes on Euronext exchanges
• Complimentary dividend processing

Trader

• Trade Shares, Bonds, Funds, ETFs as well as leveraged products, warrants and derivatives
• Trade on margin (limited to 100% of total accessible margin)
• Shares short-selling
• Complimentary real-time price changes on Euronext exchanges
• Complimentary dividend processing

Day Trader

• Trade Shares, Bonds, Funds, ETFs as well as leveraged products, warrants and derivatives
• Trade on margin (more than 100% of total accessible margin)
• Shares short-selling
• Complimentary real-time price changes on Euronext exchanges
• Complimentary dividend processing

What are Degiro’s fees?

Compared to other brokers available in Ireland, Degiro offers relatively low-cost trading across all asset classes. According to Degiro’s fee comparison page, users can save up to 80-90% on commissions by investing through Degiro instead of other traditional brokers.

How do I sign up?

Degiro is known for being extremely user-friendly, and this is evident in its straightforward registration process.

1. First, head over to degiro.ie and click on the “Open an account” button at the top of the page.
2. Once you arrive at the Sign Up page, input your email, desired username and password to begin account registration.
3. Once you have verified your email, you will be asked to provide identity verification (either government-issued ID or passport) as well as your bank account details to initiate a fund transfer.
4. You will also have to complete a short KYC process which includes a suitability test that measures your risk appetite and recommends the right account for you.
5. If you complete the KYC measures, upon agreeing to all terms and conditions, you will be asked to transfer money into your Degiro account to begin trading. Do take note that if you make a transfer through a third-party digital bank, your fund transfer will be rejected.
6. Once your Degiro account has received the initial set of funds, you will have complete access to your Degiro account.

How do I contact Degiro support?

If you have a question about your account or a specific transaction, you can contact Degiro via:

• FAQ: Before getting in touch with Degiro’s support team, you should first look through their database of Frequently Asked Questions to check if your question has already been previously answered.
• Email Support. If you still have unanswered queries that are non-urgent, you can drop an email to clients@degiro.ie which is active 24 hours a day, 7 days a week.
• Phone Support. For urgent enquiries from 7am to 9pm (GMT +1), you can contact Degiro at +31 20 261 3072.

Bottom line

Overall, Degiro is a low-cost broker that is most suitable for new investors who are dipping their toes into the markets. The additional account upgrade fees as well as the lack of advanced charting tools or real-time price alerts mean that there may be better brokers out there for experienced traders.

Compare Degiro with other brokers

Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Frequently asked questions

• How long will it take for my Degiro account to receive my funds?

  Most customers indicate in reviews that it can take anywhere from 3-4 days for funds to be received by Degiro as well as for funds to be withdrawn back to your bank account. If you do not receive any update on your funds by the end of the week, contact Degiro support for assistance if necessary.

• What is the Exchange Connection fee?

  If you trade financial instruments listed on international exchanges, you will be charged a connection fee of €2.50 for each exchange per year.

• What details do I need to provide for registration?

  To complete your registration, you will need the following details on hand:

  • Full name
  • Date of birth
  • Current residential address
  • Email address
  • Mobile number
  • Valid ID (passport, EU identity card)
  • Tax Identification Number (TIN)
  • Bank details
  • Country of residence