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Using DeGiro

  • 20-09-2017 10:43am
    #1
    Registered Users Posts: 62 ✭✭ tod1982


    Hi All,

    Quick question on using DeGiro when buying a share.

    I have always used Goodbody in the past but due to the lower costs have decided to open an account with DeGiro. I am a long term investor and any stock I have bought I have owned for a number of years.

    I was looking at buying a company's shares on DeGiro, to hold long term but am getting confused with type and order duration.
    To buy these shares at the current market price and have them added to my portfolio what should i select for a) type and b) duration

    Thanks


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Comments

  • Registered Users Posts: 949 ✭✭✭ Prezatch


    Market order: will get you the deal done immediately (you may have to suffer a slightly worse price then if you place a limit order)

    Limit order: you set a maximum price you are willing to pay. The order won't be filled until another seller drops to that price.

    Day order: only lasts for the day - if it doesn't get filled it's cancelled.

    GTC: good til cancelled


  • Registered Users Posts: 62 ✭✭ tod1982


    thanks,

    so if i want to hold long term i should put duration as GTC?


  • Registered Users Posts: 1,995 ✭✭✭ Sabre Man


    tod1982 wrote: »
    thanks,

    so if i want to hold long term i should put duration as GTC?

    No, GTC only applies to your order duration. The other option is day order, which means your order will be cancelled at the end of the trading day if your conditions aren't met, say if you want to buy share X for 100 euros but it never goes below 102.

    With GTC your order will be active until you cancel it or change it.

    Once you have bought a share you will hold it until you sell it using a similar procedure.

    PM me with your e-mail address and I'll give you a referral code that gives us both €20.


  • Registered Users Posts: 17,290 ✭✭✭✭ Thargor


    Strongly advise not to market order, always set a limit.


  • Registered Users Posts: 5,375 ✭✭✭ Wheety


    You can hold them as long as you want, those settings are only for your buy order.


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  • Registered Users Posts: 74 ✭✭✭ mansoff


    I used DEGIRO and can say its great for Nasdaq stock however if buying on the London stock exchange be careful e.g. they charge what they call "London/Dublin Stamp Duty" e.g. If i had to buy about 6000 shares just less than £2 per share. You place your order but then your order might be filled in lots of 4 transactions and then get charged the "London/Dublin Stamp Duty" for each transaction. So this could cost €40 per transaction and then get hit by a "DEGIRO Transaction Fee" of €4, €1.95, €1.79 & €0.88. After you spend the €13k on shares your automatically down €170. They are a great platform and would highly recommend them.

    I always limit the order for buying or selling


  • Closed Accounts Posts: 3,502 Porter Vast Silk


    That happened to me recently, thankfully I was only purchasing a small amount. Live and learn !


  • Registered Users Posts: 74 ✭✭✭ mansoff


    Yea live and learn is right, would try to mostly trade us stocks going forward

    When you log to the web app (not the mobile app) click on account and you will see the fees per transaction. They have a number of tabs (including transactions) but this tab breaks down the charges clearly. Degiro mobile app is good.


  • Closed Accounts Posts: 5,019 Amber Mealy Illness


    I had a quick look at my own degiro history as what you posted did not sound right. Looking at my history for both the ISE/LSE, I get charged the €2/€4 degiro fee once per transaction, whether my transaction is executed in one transaction or is split into multiple transactions.

    The London/Dublin stamp duty is 1% of the transaction/part transaction value, so it doesn't matter if the transaction is split.

    €13k of shares should have cost you €2/€4 + €130 (1%) + €5.20 (0.04%)

    I only have the basic account.
    mansoff wrote: »
    I used DEGIRO and can say its great for Nasdaq stock however if buying on the London stock exchange be careful e.g. they charge what they call "London/Dublin Stamp Duty" e.g. If i had to buy about 6000 shares just less than £2 per share. You place your order but then your order might be filled in lots of 4 transactions and then get charged the "London/Dublin Stamp Duty" for each transaction. So this could cost €40 per transaction and then get hit by a "DEGIRO Transaction Fee" of €4, €1.95, €1.79 & €0.88. After you spend the €13k on shares your automatically down €170. They are a great platform and would highly recommend them.

    I always limit the order for buying or selling


  • Registered Users Posts: 28 SFG


    why would you pay london/dublin stamp duty on an irish stock like permanent tsb


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  • Closed Accounts Posts: 5,019 Amber Mealy Illness


    Can you clarify your question? Stamp Duty is 1% for Irish company shares trading on the ISE.

    Do you know how to avoid paying paying the stamp duty?
    SFG wrote: »
    why would you pay london/dublin stamp duty on an irish stock like permanent tsb


  • Registered Users Posts: 3 D_bourne


    Hi all,

    Wonder if any degiro users can help with this question;

    Are there any inactivity fees levied on accounts where trading is infrequent?

    I have a Saxo account and trade occasionally - more buy and hold than anything else. I'm tired of the inactivity and custody fees though so I'm considering switching to degiro. They say there's no custody fees and the trading fees certainly look attractive.

    Any comments welcome!

    Thanks


  • Registered Users Posts: 3 varese.10


    Can I invest in the chinese stock market with degiro? I want to invest on alibaba and other chinese companies 
    Thank you


  • Registered Users Posts: 755 ✭✭✭ ctlsleh


    I have a select account with Davy, the annual fees are quite high, I was thinking of switching over and moving my holdings, is that easy to do.....? Has anyone done that and how did it work out?

    Also are there any downsides with Degiro? I heard they don’t support fractions of cents, is that correct?
    (Example if you were buying a stock that is €0.235, they wouldn’t support that, they only support a price of €0.23 or €0.24.....?)


  • Registered Users Posts: 1,995 ✭✭✭ Sabre Man


    varese.10 wrote: »
    Can I invest in the chinese stock market with degiro? I want to invest on alibaba and other chinese companies 
    Thank you

    Yes you can.


  • Registered Users Posts: 1,995 ✭✭✭ Sabre Man


    D_bourne wrote: »
    Hi all,

    Wonder if any degiro users can help with this question;

    Are there any inactivity fees levied on accounts where trading is infrequent?

    I have a Saxo account and trade occasionally - more buy and hold than anything else. I'm tired of the inactivity and custody fees though so I'm considering switching to degiro. They say there's no custody fees and the trading fees certainly look attractive.

    Any comments welcome!

    Thanks

    You pay basically €2.50 per exchange per year (less if you have a small portfolio). The Irish stock exchange is excluded.

    Fees:
    https://www.degiro.ie/data/pdf/ie/IE_Feeschedule.pdf


  • Registered Users Posts: 3 D_bourne


    Thanks for the response Sabre Man.

    Regarding the question re. Chinese stocks. Alibaba have ADRs listed on NYSE so I'd assume you could invest in that via degiro. Otherwise they list HK on their available exchanges (there's a list on their site) so again I think you should be able to trade for instance H shares if your interest is in Chinese stocks. Might even give access to Stock Connect (as part of the internationalisation of RMB a number of mainland Chinese stocks can be traded via HK). As a couple of others have said though, best ask degiro to confirm.


  • Registered Users Posts: 17,290 ✭✭✭✭ Thargor


    ctlsleh wrote: »
    Also are there any downsides with Degiro? I heard they don’t support fractions of cents, is that correct?
    (Example if you were buying a stock that is €0.235, they wouldn’t support that, they only support a price of €0.23 or €0.24.....?)
    Just checked my account there and Ive put multiple orders through at prices like 0.365, as in 36.5 cents, in USD and Australian dollars. I dont think any serious stockbroker would tolerate that tbh, it would be a bit of a bizarre rule.


  • Registered Users Posts: 74 ✭✭✭ mansoff


    My costs were correct in my previous message.

    I would also advise not to use Degiro for busy stock trading.

    Problem 1
    To my horror I bought 2000 shares and the web application kinda froze - telling me some error and my portfolio was not updated with the "attempted purchase". Then I tried again, when I refreshed the page it had purchased 4000.

    Problem 2
    Also had problems with stop limits, since its 15 minutes behind the program is unable to perform stock limits if the price 15 minutes previously is higher than the current price stop limit.

    Problem 3
    Also had a problem selling shares I tried to sell 1000 at market order and then a message appeared only allowing 480 to be sold on this exchange.

    Altogether its fine for longs purchasing quiet trading times but for day trading the program is terrible.


  • Closed Accounts Posts: 5,019 Amber Mealy Illness


    Indeed. I firmly have DeGriro in the "you get what you pay for" bracket. I have had a few issues similar to above.

    I also cannot understand why the website goes offline for 30 mins each day for maintenance. Seems crazy.


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  • Registered Users Posts: 1,995 ✭✭✭ Sabre Man


    I also cannot understand why the website goes offline for 30 mins each day for maintenance. Seems crazy.

    When does this happen? I've never experienced this and I've been using DeGiro for over 2 years and I'm pretty much logged in constantly from about 9 to 21.


  • Closed Accounts Posts: 5,019 Amber Mealy Illness


    About 22.50 to 23.20 each evening. It's a real PITA, especially if you trade on the Australian exchange.


  • Registered Users Posts: 17,290 ✭✭✭✭ Thargor


    Really? Thats around the time Id be queuing up any Australian orders, never noticed that.


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    Never noticed it offline either at those times.


  • Closed Accounts Posts: 3,502 Porter Vast Silk


    Have never seen it down either.


  • Closed Accounts Posts: 5,019 Amber Mealy Illness


    It does indeed. I queried it with DeGiro and they confirmed it. I was getting duplicate orders, shadow orders, unable to connect to exchange errors etc. Also get logged out and unable to log back in for a time as well. Only had those problems during that 'maintenance' window.


  • Registered Users Posts: 755 ✭✭✭ ctlsleh


    Any other issues, I’m thinking of moving my portfolio from Davy.....?


  • Closed Accounts Posts: 5,019 Amber Mealy Illness


    I have only been using them a few months but they are OK.

    A few minor issues for me. Firstly the maintenance window as I have said in previous posts.

    Also, I am finding stocks not listed but you can request they are added via support email Takes 2-3 days on average for any requested stock to be listed.

    I find SEPA transfers slow, perhaps it's just me? They say 2 working days, so a transfer on Monday will not hit the account until sometime Wed. Transfers on weekends don't seem to hit my account until Wed.

    Would like to see more live data.

    I guess I cannot really complain given the trade costs are so low.


  • Registered Users Posts: 51 ✭✭ fred432


    Is it just me or does anybody else notice that your market order is always executed at the price you specify, even though the stock might have fallen over a cliff. I am happy with Degiro but with TD I often bought at prices well under my limit.


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  • Registered Users Posts: 1,032 ✭✭✭ manonboard


    I dont under the 'total difference' field.

    It says i am negative by 1k

    however I bought shares at 114.2, and they are currently at 116.2.
    I purchased about 11k euro worth of them, the fees were just a couple of euro.

    5K euro of this is on margin.

    Why does this field show a negative? and where is it coming from?

    The other field i would like to ask is on the porfolio screen.
    In my list of shares (i have 1, visa). It has a result column with negative 500euro in it. Can someone explain this also please?

    Much appreciated gents
    Ray


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