Degiro

aidanki · 10-04-2016 3:21pm #1

Been reading degiro wonderful fee transactions today.

One thing I haven't seen, what is there account maintenance fee per annum?

Say I have 10k on Dow Jones and 5k in Amsterdam?

Sabre Man · 10-04-2016 3:27pm

There's no account maintenance fee but you pay a fee per exchange.

aidanki · 10-04-2016 10:00pm

Sabre Man wrote: »

There's no account maintenance fee but you pay a fee per exchange.

thats still v v v small, whats the catch

speedboatchase · 12-04-2016 8:22am

Thinking of opening an account with Degiro but need to know if I would still liable to pay CGT, as I'm based in Qatar? I asked Degiro about this but they said: 'We are unauthorised to give any tax advice in terms of capital gains tax, this would have to be dealt with by yourself or an accountant.'

topper_harley2 · 12-04-2016 8:45am

speedboatchase wrote: »

Thinking of opening an account with Degiro but need to know if I would still liable to pay CGT, as I'm based in Qatar? I asked Degiro about this but they said: 'We are unauthorised to give any tax advice in terms of capital gains tax, this would have to be dealt with by yourself or an accountant.'

Degiro execution only, they don't give tax advice. You don't pay CGT to Degiro anyway, it's self assessment on sale so it would be based on the tax laws of whatever country you reside in at the time of sale. I don't know what tax system, if any, Qatar has in relation to investments, so you need to look that up yourself.

aidanki · 12-04-2016 2:22pm

speedboatchase wrote: »

Thinking of opening an account with Degiro but need to know if I would still liable to pay CGT, as I'm based in Qatar? I asked Degiro about this but they said: 'We are unauthorised to give any tax advice in terms of capital gains tax, this would have to be dealt with by yourself or an accountant.'

topper_harley2 wrote: »

Degiro execution only, they don't give tax advice. You don't pay CGT to Degiro anyway, it's self assessment on sale so it would be based on the tax laws of whatever country you reside in at the time of sale. I don't know what tax system, if any, Qatar has in relation to investments, so you need to look that up yourself.

oh even though I own shares I have never sold any, do CGT tax usually paid via automatic deduction or is that up to yourself to sort out

say your dealing with

topper_harley2 · 12-04-2016 8:19pm

You only pay CGT when you sell AND make a profit. There is no concept of auto deductions etc.

Grecco · 18-04-2016 10:31am

Does Degiro allow you to sell short Stock??

EmonMCC · 26-04-2016 3:18pm

Hi folks! I've read that Degiro pays dividends in cash instead of adding partial shares via DRIPs. Is this true? Can it be changed to automatically re-invest dividends into additional shares for companies offering DRIPs? Do they offer now any kind of PRSA or other tax-deferred or tax-free account? I've also read that they don't but maybe that was old information???

topper_harley2 · 26-04-2016 6:39pm

Youre far better off emailing these questions directly to Degiro, otherwise you're relying on possibly wrong information.

However, I know that no they dont support DRIP, because I emailed them the same question 6 months ago:

"DRIP (Dividend Reinvestment Plan)?
Degiro does not support this service at the moment. All dividends are cash settled. We hope in the future to provide the service but as of now we don’t."

As far as I know., no they dont support PRSA either.

EmonMCC · 26-04-2016 6:51pm

Thanks mate! Nice nick btw ;-)
So which broker does allow DRIPping and PRSA for reasonable fees? I'm used to $8.95 per order with no maintenance fees whatsoever so I 'm a bit hesitant to shell out 15+ per order plus annual account fees for the likes of TD or Davy... My current contribution is $916 per month ($11,000 annual limit for 2 Roth IRAs) and I'd like to keep up this level of contributing like 750 every month or 1500 every other month.

topper_harley2 · 26-04-2016 7:04pm

How are you planning to keep contributing to Roth IRAs if you are moving to Ireland (from other thread). I dont see how you can keep contributing to a Roth IRA in an Irish broker. Why dont you just stay with Charles Schwab?

Some brokers do allow self directed PRSAs, Davy Select definitely being one, as you mentioned. A PRSA is as close to a tax-deferred account as you'll get here. Outside a PRSA (or occupational pension), there is no concept of Roth IRA (as used US) or ISA (as used in UK). We just dont have the options.

Welcome to DIY investing in Ireland, it sucks compared to USA.

EmonMCC · 26-04-2016 7:24pm

Simple answer: I don't and I never said that. I just see that the Euro sign was obliterated when I posted...

Long answer: I was just giving a number (EUR 750 p.m.) in order for you to see how my usual order size with Schwab looks like. Of course I'm going to contribute in Euro, hopefully through an employer sponsored plan. But if their plan options suck or the fees are to high I would much rather do it all on my own and figure out the tax deduction on my own instead of having it done by the payroll admin. I will leave my current holdings in the Roth IRAs with Schwab of course, collecting dividends and DRIPping them hopefully for the remaining 20 years until the withdrawal reqs are met, but making new contributions is not possible when you don't have any income stateside.

Yeah unfortunately I understand now that the US is a Mecca for low-fee and tax-advantageous investing and I won't be able to get this kind of thing anywhere else.

lawred2 · 02-09-2016 2:58pm

Is it really possible to invest in a vanguard ETF with no fees via DeGiro?

BrokenArrows · 02-09-2016 3:18pm

Yes.
Here is the list of ETF's that are free
https://www.degiro.ie/data/pdf/uk/commission-free-etfs-list.pdf

The condition is that you must trade a minimum of €1000 as described in the page 2 of the above pdf.
There will obviously still be forex fees from euro to usd and back, but the fee is 0.10% of the spot rate so its pretty good.

lawred2 · 02-09-2016 3:18pm

BrokenArrows wrote: »

Yes.
Here is the list of ETF's that are free
https://www.degiro.co.uk/data/pdf/uk/commission-free-etfs-list.pdf

The condition is that you must trade a minimum of €1000 as described in the page 2 of the above pdf.

no fees, commission, profit takes

nothing??

How does that work?

BrokenArrows · 02-09-2016 3:26pm

lawred2 wrote: »

no fees, commission, profit takes

nothing??

How does that work?

I edited my post before you quoted.
They charge 0.10% on the foreign exchange to USD and back. So they get 0.20% overall.

I think they are doing it as cheap as possible at the moment in order to gain a market share. I dont think it will last forever.

lawred2 · 02-09-2016 3:27pm

Thanks.

I'm a rookie and am looking to start building a portfolio...

Is degiro a good place to start? Or are there better?

BrokenArrows · 02-09-2016 3:35pm

lawred2 wrote: »

Thanks.

I'm a rookie and am looking to start building a portfolio...

Is degiro a good place to start? Or are there better?

Degiro is the cheapest you will find and cheap is good.

However im not a fan of their platform (but ending up using it anyway due to the great fees). Its a bit messy and lacking in reporting and features compared to others.

But if you just need the basics fo perform the trade and you can use other tools to research your stocks then Degiro is fine.

iainBB · 02-09-2016 7:35pm

BrokenArrows wrote: »

Degiro is the cheapest you will find and cheap is good.

However im not a fan of their platform (but ending up using it anyway due to the great fees). Its a bit messy and lacking in reporting and features compared to others.

But if you just need the basics fo perform the trade and you can use other tools to research your stocks then Degiro is fine.

Agreed it's cheap not best. You get what you pay for in this example. I use it but when my account gets a bit bigger I will move on.

lawred2 · 06-09-2016 10:48am

Is there a good small cap fund available in that list of ETFs?

iainBB · 06-09-2016 10:54am

lawred2 wrote: »

Is there a good small cap fund available in that list of ETFs?

What type
USA region growth divided blend. Leverage

lawred2 · 06-09-2016 11:02am

iainBB wrote: »

What type
USA region growth divided blend. Leverage

lol

Slow down a little.. I did say I was a rookie!

I don't know whether you are asking me or telling me

iainBB · 06-09-2016 11:04am

lawred2 wrote: »

lol

Slow down a little.. I did say I was a rookie!

I don't know whether you are asking me or telling me

Sorry

try etfdb.com

They have a good screener that will filter them for you. I guess you would like the USA region and low fee but what else.

BrokenArrows · 06-09-2016 11:07am

iainBB wrote: »

Agreed it's cheap not best. You get what you pay for in this example. I use it but when my account gets a bit bigger I will move on.

I agree, but hopefully they will improve.
Ive been sending their help desk emails with bugs that i found. They have fixed some of them so looks like they are actively trying to make it better.

I was using Saxo previously but with a £5 quarterly charge and £8 minimum charge per trade it adds up.

Saxo Fees on a £2k trade (buy and sell) = £16.00 = 0.8%
Degiro Fees on a £2k trade (buy and sell) = £3.66 = 0.183%

It makes short term trading a lot more attractive. Taking 1 or 2% on a trade in a day is nice without having to recover that 0.8%

As i closed positions on Saxo ive been transferring the funds to Degiro. All into Degiro now.

lawred2 · 06-09-2016 11:18am

BrokenArrows wrote: »

I agree, but hopefully they will improve.
Ive been sending their help desk emails with bugs that i found. They have fixed some of them so looks like they are actively trying to make it better.

I was using Saxo previously but with a £5 quarterly charge and £8 minimum charge per trade it adds up.

Saxo Fees on a £2k trade (buy and sell) = £16.00 = 0.8%
Degiro Fees on a £2k trade (buy and sell) = £3.66 = 0.183%

It makes short term trading a lot more attractive. Taking 1 or 2% on a trade in a day is nice without having to recover that 0.8%

As i closed positions on Saxo ive been transferring the funds to Diagro. All into Diagro now.

Diagro?

lawred2 · 06-09-2016 11:19am

iainBB wrote: »

Sorry

try etfdb.com

They have a good screener that will filter them for you. I guess you would like the USA region and low fee but what else.

Thanks.

What else do I need to be specific about? Industry types etc?

BrokenArrows · 06-09-2016 11:49am

lawred2 wrote: »

Diagro?

Typo

iainBB · 06-09-2016 8:01pm

lawred2 wrote: »

Thanks.

What else do I need to be specific about? Industry types etc?

Well I guess you would like to buy and hold for the long term?

Want low fees?

Matches index as close as possible?

Not leverage?
Goes up 2 or 3 times the index but cost more in fees.

Not inverse?
Do you think it will go down in the future?

jive · 06-09-2016 8:06pm

iainBB wrote: »

Agreed it's cheap not best. You get what you pay for in this example. I use it but when my account gets a bit bigger I will move on.

Depends what you need from it really. If you're buying ETFs for holding long term it's by far the best choice due to the cost advantages.

iainBB · 06-09-2016 8:08pm

jive wrote: »

Depends what you need from it really. If you're buying ETFs for holding long term it's by far the best choice due to the cost advantages.

Yep true, but swing trading leverage etf it gives complete wrong market price. ðŸ˜ž

Degiro

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