Investing in stocks, funds, and securities have been around for many years. Up until recently, it was done mainly by the super-wealthy. That all changed, now, there is a new generation of younger investors. They are taking advantage of technology, mostly mobile and the Internet. These technologies have made it much easier for beginners to get started.
If you are located in Europe, you have many options to choose from. One of the top options is the online broker Degiro. They have been around since 2008 and is the top European online broker. We have found quite a bit of useful information we gather about Degiro. We decided to share it with you in this article.
While many countries in the world have active stock markets and exchanges, not all are completely accessible to all countries. Degiro currently is only available to those investors who live in 20 countries across Europe. These include; Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden, United Kingdom, and Switzerland.
If you live in any other country and you pay taxes in that country you will not be able to establish a Degiro account. Part of the initial account setup is to provide proof of identity and they will know if you are allowed to set up an account based on the information that you provide.
For this article, we have come up with some valuable information about Degiro that should help you make an informed decision about whether or not you want to join them.
5 Things that You Should Know About Degiro Before Becoming a Member
- Largest European dscount online broker – Degiro is a discount broker that has been around since 2008. The German-Dutch company then merged with another financial institution to become Europe’s largest online-only brokerage company. It also holds an actual banking license as well.
- Degiro does not have a downloadable desktop application – Since Degiro is an online broker and therefore you use a desktop program to access your account. You must either use your mobile device or use the Degiro web portal to access your account information.
- No minimum is required to open an account – You open a Degiro account without first having any money ready to deposit. However, once you are ready to begin making trades you will need to have a bank account listed in your account.
- Degiro is not available for US residents – While US stock exchanges are accessible to members of Degiro, they do not accept US residents as members. If you currently pay taxes to the US government, you may not be a member of the Degiro.
- Degiro does not accept credit or bank cards – Degiro only accepts funds to be added to your account via bank transfer. They do not allow credit cards or bank cards to be used to deposit funds into your account. They do, however, accept funds to be added or withdrawn using electronic wallets.
Pros and Cons
Pros of using Degiro for investing
- Deposits and withdrawals are free using your bank account
- Choice of base account currency (note: normally the currency of your bank)
- All accounts are handled online
Cons of using Degiro for investing
- Not available for US-based investors