DeGiro ETF

As an ETF trader or investor your broker is the direct link to the ETF providers. It is an important decision to choose the best broker for you as an individual ETF trader.

Many brokers are out there but which broker offers the best package? Well, maybe DeGiro will perfectly suit your needs. Here we will discuss the pros and cons of DeGiro ad an ETF broker.

Pros of DeGiro as your ETF broker

What are the most striking pros DeGiro has to offer as an ETF broker? Here my opinion:

Absolutely extremely low broker fees

DeGiro will beat every broker out there on the base of fees and costs incurred.  As an ETF trader this is a very important asset you look for in a broker. The more you trade or the higher the order amount of your ETF’s the more you gain.

Today DeGiro is the number 1 European broker based upon costs and fees. They beat other low cost brokers like Lynx and Interactive Brokers.

Easy to use online platform

The online order handling platform of DeGiro is easy to use. It covers all the information you need. The DeGiro order platform is developed in house so it covers just all the stuff you need without being too complicated. You will find most of the ETF’s offered by the well-known providers such as iShares, Vanguard and SPDR.

Great service

Whenever you have a particular question you can mail DeGiro and I must say that they are quick and thorough in answering your questions and requests. Of course this may differ from other experiences but in general I cannot say anything wrong on this point.

Cons of DeGiro as an ETF broker

Are there any pitfalls at trading with DeGiro. Well, that depends on what will happen in the future. Here I will give you some food for thought. In general, I do not see many risks or flaws other than you might expect with competing brokers.

No banking license
DeGiro has no banking license which implies that you are not covered by the banking guarantee rule that offers you up to € 100.000,- when your account suffers from a bankruptcy.

Of course there is no reason to suspect that this will happen and besides the risk you are running is normaly limited to the amount you have in your broker’s account, not the amount invested in ETF’s. I would like to add to this that many other brokers do not have a banking license either.

Basic trading platform
Although DeGiro offers more ETF’s than other brokers on average, you may find the trading platform a bit basic. Another point of concern is that DeGiro does not offer an easy tax for many countries.

As the local tax laws may differ it would be handy if DeGiro offers an easy accessible tool to align it with your income tax forms. All in all, for me the trading platform is fine as I do not need an elaborate platform with all sorts of information. I will get this information elsewhere.

Would I recommend DeGiro as an ETF broker?

O yes, for sure! I really love the great broker fees and trading is easy and straightforward. 

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