General consensus on DeGiro

piaget

Dear All,

Stumbled across some posts on this forum regarding investing in DeGiro and looking for some general feedback on how people have found it.

I used to have a rabodirect investment account now closed but didn't find it great due to poor timing and no dividend payout or dividend reinvestment option.

Would be looking to dripfeed a few €1000's a year into EFT's.

I have a UK investment trust account a good few years but it can be cumbersome to trade with so looking for a relatively easy irish option.

Had a quick look at the DeGiro website and it seems ideal for the small time investor.

valoren

Happy with them. It's good that you can incrementally add shares to your portfolio at minimal charge one or two at a time instead of having to wait until you have a significant amount accrued due to exorbitant transaction fees.

e.g. you can buy a NYSE listed stock for 50c + minimal charges. The same transaction on Davy would be almost €50 (custody charge + stamp duty + transaction fee).

iainBB

valoren wrote: »

Happy with them. It's good that you can incrementally add shares to your portfolio at minimal charge one or two at a time instead of having to wait until you have a significant amount accrued due to exorbitant transaction fees.

e.g. you can buy a NYSE listed stock for 50c + minimal charges. The same transaction on Davy would be almost €50 (custody charge + stamp duty + transaction fee).

Very Cheap and ok to use ,I am happy, can't day trade on it, but swing trade long term investment and etf tracker are great.

Newentrant12

valoren wrote: »

Happy with them. It's good that you can incrementally add shares to your portfolio at minimal charge one or two at a time instead of having to wait until you have a significant amount accrued due to exorbitant transaction fees.

e.g. you can buy a NYSE listed stock for 50c + minimal charges. The same transaction on Davy would be almost €50 (custody charge + stamp duty + transaction fee).

There okay but no investor compensation scheme with any regulators. So your funds are at serious risk if degiro folds.

Francie Barrett

Degiro say that their money and client money is segregated and you are protected for up to €20k if they go bust.

Newentrant12

Francie Barrett wrote: »

Degiro say that their money and client money is segregated and you are protected for up to €20k if they go bust.

That's what they claim but emails from the Dutch regulator show that they have no such coverage, they aren't even regu lated by the Dutch central bank. Only conduct supervision by AFM, but no investor compensation scheme.

syntheticjunk

From January 2018 new MIFID2 regulations come into effect. Interesting how all this going to affect DeGiro, as cost to run business will increase significantly.

Newentrant12

If they make it to 2018, as of right now the company is essentially a black box.. I'm in the process of following up with the Dutch Regulator and Degiro. Hoping I can get them to remove all reference to the investor compensation scheme from their website. As this is very misleading and has seemed to been a factor in many people deciding to move to this broker.

Jawgap

Generally happy with DeGiro - had some issues getting transferred funds released because the name I used setting up my account was slightly different to the name on the bank account the funds came from - so pro-tip, make sure names match!

Happy to dabble with them, but I'm not sure I'd be putting significant funds (significant for me, anyway )with them just yet.

lukonmaki

Hi,
I have started using Degiro recently and although the interface isn't up to scratch, their low fees aid my flexibility. My question relates to their lack of a dividend reinvestment option. I'm a long term EFT investor and basically just want to drop 10-20K per year into a "safe" total stock such as Vanguard Total stock & Bond.
[font=Open Sans, Arial, Helvetica, sans-serif]Can anyone tell me how I can do this with Degiro or does any other organisation allow dividend reinvestment at affordable rates?[/font]
[font=Open Sans, Arial, Helvetica, sans-serif]Thanks in advance,[/font]
[font=Open Sans, Arial, Helvetica, sans-serif]Luko[/font]

Prezatch

A lot of the big US ETFs for example VOO do not offer dividend reinvestment. But there is nothing to stop you from reinvesting it (after you've paid the tax on it)

If an ETF does offer reinvestment, it usually has "Acc" in the name (Accumulating). Some large EUR ETFs do offer this (IUSE) but for tax purposes you are much, :eek: MUCH :eek: better off going with US ETFs. Plenty of info about that on this board.

InkPot

syntheticjunk wrote: »

From January 2018 new MIFID2 regulations come into effect. Interesting how all this going to affect DeGiro, as cost to run business will increase significantly.

Hi - is there a summary of what the new regulations are / their impact that you could point me to please?

InkPot

Newentrant12 wrote: »

That's what they claim but emails from the Dutch regulator show that they have no such coverage, they aren't even regu lated by the Dutch central bank. Only conduct supervision by AFM, but no investor compensation scheme.

Would you be willing to post the relevant quotes from the email communication? Would be hugely appreciated!