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09-09-2016, 14:33   #1
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Starting to Invest: Making your First Trade with DEGIRO

Let s face it; even if DEGIRO offers all investors the same low fees usually reserved for just the big institutions, not all of us are professional traders. And even if the Web Trader is a pretty easy to use platform, there may be a bit of a learning curve for some of us.

With DEGIRO you can trade on a wide range of products and the most part, regardless of what type of product you are investing in, you place your orders in the same way. For this thread, we will be doing a sample trade for 1000 shares of Bank of Ireland.

Step 1: Finding the Product
Once you have access to the Web Trader, you can search for the product in the search box at the top right hand of the screen.

When we search for Bank of Ireland , we get two results: the shares themselves as well as the CFDs. Click on the green B icon for a Buy order and we will be redirected to the order box.




Step 2: Placing the Order
There are many ways to place an order using DEGIRO but we ll focus on the two simplest order types for this example.

The default order type is a Limit Order. When buying a product using a Limit Order, you set a maximum limit price which you offer for the product. The order will not be executed if it cannot be done for less than this price. When placing a Limit Order, you can either select the Number of shares you wish to buy or the Amount you wish to spend and the other box should automatically fill in for you.

Alternatively with a Market Order, you do not set a price yourself but rather the order be sent to the market and executed at the best possible price at that moment. Placing a market order, you choose the number of shares you wish to purchase.

For this order we set a limit price of 0.20 for a quantity of 1000 shares. The Amount box showing 200 will then automatically fill for us.




Step 3: Confirming the Order
After selecting Place Order, the last step is to verify that you are satisfied with the order. Review the info on the Check Order screen and then click the green check box to submit the order.




Step 4: Awaiting Execution
Once your order is sent into the market it will be showing in your Outstanding Order window. If the order meets the conditions required for execution, the trade will be made and you will then see the order listed under Latest Transactions and the shares will be found in your Portfolio.



We see that this order went through at the best price available at the time and we received the shares for 0.1980 per share.



Reviewing the order we see that the trade was complete and we were charged:
  • 198.00 for the shares (1000 shares at 0.198 each)
  • 1.98 for the Irish Stamp Duty (1% of the total order)
  • 2.08 for the DEGIRO transaction fee ( 2.00 + 0.04%)

Congratulations on your first trade!
Should you need any further assistance, please do not hesitate to contact our customer support
professionals by phone at +353 (0)1513 4951 or at clients@degiro.ie.

Last edited by DEGIRO; 09-09-2016 at 15:54.
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19-09-2016, 10:49   #2
aidanki
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you should do another one on how to do spreadbets etc
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20-09-2016, 07:13   #3
DEGIRO
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Dear aidanki

Hello, DEGIRO offers direct exchange access and doesn t earn anything on spreads. As such spread betting is not a product offer, however we welcome further suggestions.
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21-09-2016, 16:49   #4
somefeen
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Could you explain how to manage short positions?
I am unsure how to close the position once I've opened it.
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22-09-2016, 07:22   #5
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Hi somefeen

In order to close a short position you would create a buy order for the amount of shares you are currently shorting.
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22-09-2016, 13:22   #6
somefeen
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Thought as much
Just wanted to be safe
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06-11-2016, 17:56   #7
august12
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Will be ordering vanguard etfs (VOO), is the purchase process similar to the screenshots you provided re Bank of Ireland purchase or is there an additional currency exchange field to be completed?
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07-11-2016, 12:30   #8
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Quote:
Originally Posted by august12 View Post
Will be ordering vanguard etfs (VOO), is the purchase process similar to the screenshots you provided re Bank of Ireland purchase or is there an additional currency exchange field to be completed?
The process would be exactly the same. For example, if you are placing a Limit Order, you would enter the limit price in the local currency (in this case, USD) and then the Amount box would automatically fill in with the amount to be paid in Euros.
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