Degiro is an online broker with low fees. You can buy and sell stocks for a very low fee compared to most German banks. I started using Degiro in 2018. This is my review of their service. My 2019 review was more negative, but Degiro improved a lot since then.
In English and German
In 2023, the Degiro website is in English and in German. Before, it was only in German. If you don’t speak German, it’s a big improvement.
The landing page and some important parts of the registration process are only in German. It’s better than before, but it still needs a lot of improvement.
As promised, the fees are very low. You usually around 1€ per trade. Most banks charge 10-20€ per transaction plus monthly fees.
This is why I switched from Commerzbank to Degiro. Over time, I saved hundreds of euros in trading fees.
It works fine
In general, Degiro works fine. It does what it should, and has low fees. As a casual investor, I’m happy with that.
A few years ago, the Degiro platform was not reliable. It went down a few times per month. That’s why my 2019 review was so negative. In 2023, I have no problems. The website always works fine. I have not noticed any downtime in the last few years.
The sign up process
The signup process (in 2018) was very easy. After I entered my personal information, I had to upload a scan of a valid ID, and fill a questionnaire to prove that I understood the risks of stock trading. I had to agree to a few more legal and tax-related documents, then I was done. It took less than 1 hour.
After you create an account, you can transfer money to your Degiro account with SOFORT, and a few minutes later, you are ready to trade.
When I signed up, Degiro was only in German. Now you can sign up in English. Some parts of the registration process are still in German. It’s better than before, but you still need to understand German.
Web and mobile
Since my last review, Degiro redesigned their web interface. It works really well on desktop and on mobile. I don’t use the Degiro mobile app, because the mobile website works really well.
When you make a transaction, you can see the expected fees before you confirm the transaction. You can see your portfolio, your favourite stocks and your order history very easily. In general, I find the website easy to use. It’s much better than what Commerzbank offers.
There is one very important missing feature: a graph of your profits and losses. You can see your total profit since you opened your account, but not how much you made in the last 7, 30 or 365 days. It’s hard to track your profit over time. There is a Chrome extension that fixes this. Other people recommend Simple Portfolio for this.
You must still write emails and make phone calls for some operations. For example, if you want to change your bank details, you must email their customer service.
If you enter your password wrong too many times, you must call them to unlock your account.
In my experience, their customer service is very fast, but I have not used it in a long time.
Deposits and withdrawals
Moving money between my German bank account and Degiro is easy. With SOFORT, it takes a minute. You can also use SEPA transfers and wait a little longer.
I transfered tens of thousands of euros in and out of Degiro without any issues.
Would I recommend Degiro? Yes. I use it myself since a few years.
Degiro is much better than before. They had many issues in 2018, but those are solved in 2023. If they showed you your profit/losses over time, Degiro would be perfect. Without that, it’s still pretty good.
Alternatives to Degiro
Interactive Brokers is often mentioned as an alternative. It gives you access to US stock options.
These online banks let you trade stocks:
Most classic banks also let you trade stocks. Their transaction fees are often much higher.
Remember, investing involves risk of loss.1
Sources and footnotes
I am legally required to say this. ⤴