Using DeGiro

Stormington

https://www.boards.ie/discussion/comment/120721197#Comment_120721197

Have cashed out a few positions and moved to IBKR and Tastytrade (ref links available if interested). Latter is solely for options.

Both apps have improved in last few months and I really like the fact that IBKR has a graph that tracks your performance across time. Doing this for degiro requires a third party app and exporting/importing csvs.

Fees on degiro have spiked compared to IBKR and even Revolut (you get 5 free trades for €8 a month on Revolut premium plus non-trading extras).

UsBus

Hi,

Have some dividends coming to my degiro account the next few weeks. Can somebody confirm, where do dividends get lodged to. Are they stored in the flatex cash account?

I had a look at one of my cash reports, they only seem to be generated every quarter. It says I have a balance there, I don't see any way to move some of that balance out, say to my linked back account or even to reinvest.

I always assumed dividends or any shares gains were just added to my main shares balance, I'm obviously wrong on that!!

retalivity

https://www.boards.ie/discussion/comment/121127111#Comment_121127111

They are added to uninvested funds/available to trade amount, which i think is kept in the flatex account

sterz

Moved from KBC to Revolut a few months back but I'm only realising now that Degiro will not accept any deposits from a Revolut account. Assuming this position is unlikely to change in the near future, is the only workaround to set up a separate bank account?

I looked for some of the stocks I'd like to reinvest in through the Revolut app but they're not listed.

One More Toy

Really poor from degiro today, can't login since 9am and still no resolution

Supercell

https://www.boards.ie/discussion/comment/121182936#Comment_121182936

I fund from N26 which is pretty similar to Revolut in a lot of respects. Surprised you cannot fund , its just an IBAN to IBAN "Flatex" account, something to note I suppose. So many things I dont like about Degiro.

One More Toy

When is the annual report due for release?

One More Toy

https://www.boards.ie/discussion/comment/121366858#Comment_121366858

Anyone have an idea?

decies

I closed my Davy Select account today to concentrate on using etoro which am using for about 5 years . Just saw this thread what’s the big advantage degiro over etoro ? Thanks

chuchuchu

Do these other apps produce yearly reports like degiro does?

Just as it's easier for tax self assessment form with these reports

chuchuchu

https://www.boards.ie/discussion/comment/121398330#Comment_121398330

Degiro has ETFs

daheff

https://www.boards.ie/discussion/comment/121419262#Comment_121419262

they do, but from reviewing them, they are not accurate. they seem to mess about with fx fees, transaction costs etc. i've found only using the account statement actually gives you the right data.

denismc

I just received my annual statement from Degiro and it has given me a figure for "Gross Losses" for the year, but when I manually add up my realized losses for the year there is a large discrepancy between the 2 figures.

Has anyone had this issue? My only guess is that Degiro is factoring in losses due to currency exchange rates!

joebert80

https://www.boards.ie/discussion/comment/121470781#Comment_121470781

Hi Denis

I'm in the same situation... I dont think FX could account for the discrepancy that i'm seeing.. its so wide..

Supercell

I'm up more than I thought that I was so looks like i owe some CGT :(

Which fees should I include? - Total Realised Fees?, other years i didn't include as they were negligible but this year its a couple of hundred so I want to include.

I had some declared losses last year, am i able to offset against my payment due here or is that done next year? Thanks.

GambleIreland

How do I report my Degiro positions/ win/loss to Revenue? Is there some standard form that I need to use for Revenue? Do Degiro submit something automatically or provide some form?

denismc

https://www.boards.ie/discussion/comment/121497306#Comment_121497306

For gains you made between the 1st Jan and the 30th of November this year you need to make a payment by the 15th of December of this year which is today!

You can make a payment online via the "Myaccount" section on the revenue.ie website.

The form you are looking for is CG1 Form CG1 – Capital Gains Tax Return 2023 (revenue.ie)

So you make the payment by the 15th of December, but the CG1 form doesn't have to returned until the 31st of August next year!

You have a personal tax exemption of €1270 , which means you don't pay tax on the first 1270 of gains.

There are a few Youtube videos that explain how to fill out the form.

One More Toy

Is it down for anyone else? On web and mobile

Atlantic Dawn

https://www.boards.ie/discussion/comment/121501182#Comment_121501182

Yes down for me too.

One More Toy

Working again this morning but dividend info missing

GambleIreland

https://www.boards.ie/discussion/comment/121497664#Comment_121497664

Well I guess I am fine as I did not make any gains as a total on my portofolio, loss of like 1k, means I need to still make the report though by end of August next year?

SilverFox2

I think the return is by 31 October 2024 not end of August

Anjunadeep

If something happens to DEGIRO, are my investments protected?

Answer

In the event that something were to happen to DEGIRO, the segregation of client assets ensures that your funds and positions will not be affected. Client assets are held separately from DEGIRO assets, and are not treated as recoverable assets to DEGIRO's creditors. In the event that something happens to DEGIRO, your assets will still belong to you.

In the unlikely event that the segregated assets cannot be returned to clients DEGIRO falls under the German Investor Compensation Scheme, which compensates any losses from non-returned assets up to 90% (with a maximum of €20,000).

A common misconception is that the €20,000 cap on the German Investor Compensation Scheme means that if something were to happen to DEGIRO (for example in the case of bankruptcy) investors who hold more than €20,000 in DEGIRO will lose everything over that amount.

However, this is not the case. Asset segregation is in place to protect client assets in events such as these. 

The investor protection scheme only comes into effect in the case that DEGIRO is found to have failed to take sufficient measures to protect client assets, or in the case of fraud on the part of DEGIRO.

Nody

https://www.boards.ie/discussion/comment/121643065#Comment_121643065

The only problem with that statement is FTX collapse for example. Note, I have no doubts about DeGiro and their separation etc. but pretty words have been said plenty of times before only to turn out to be false because the company lied and the audits did not pick it up. We can pile up the companies that have gone under because of it as well; hence it's a risk though under the circumstances a risk I don't see a reasonable way around in any form for most people.

Anjunadeep

https://www.boards.ie/discussion/comment/121643159#Comment_121643159

FTX weren't regulated though.. What stock brokerages authorised by EU regulatory bodies have in recent years gone to the wall and resulted in clients losing assets ? I cant think of any but interested to know if there are cases in which clients lost assets? Just to be clear, I'm talking about stock brokerages only..

daheff

https://www.boards.ie/discussion/comment/121653028#Comment_121653028

if you are aware of upcoming votes you can request DeGiro to facilitate it. They do unfortunately charge a fee for processing. I think i've been charged $10 in the past for some votes.

Nody

https://www.boards.ie/discussion/comment/121645287#Comment_121645287

Wirecard or Barings bank would be regulated in EU and failing spectacularly. My point being; there is an inherent risk and companies can have great statements and controls checked by third parties but until actually tested they are not actually proven to work and there always has to be a first (which usually trigger a new set of controls to be implemented). Does this mean I distrust DeGiro and think I'd lose my shares? No, I'm simply aware that their statement on their website is their belief but until something happen to trigger it it's a belief rather than a fact and that applies to any other major stockbroker as well.

Shedite27

https://www.boards.ie/discussion/comment/121653028#Comment_121653028

Yeah you can email degiro to vote at AGM's if you want.

Interactive Brokers do this for all AGMs for free

badboyblast

I want to invest in one or two american shares, is Degiro the best platform for this activity?

I am resident in Ireland. Thank you.