Welcome to the world of trading with DEGIRO, a platform that is revolutionizing access to the financial markets for individual investors. DEGIRO is known for its low fees, variety of trading options, and easy accessibility for beginners and experienced investors alike.
DEGIRO provides access to a wide range of financial products, including stocks, bonds, ETFs and more. The platform is appreciated for its user-friendliness, low costs, and quality customer service. Whether you’re an active trader or a long-term investor, DEGIRO has the tools and resources to help you achieve your financial goals.
Trading accounts at DEGIRO
DEGIRO offers different types of accounts to meet the varied needs of its users:
Standard account
The standard account is perfect for investors who want simple, direct access to the financial markets. With no minimum deposit required, this account allows you to trade a multitude of products and offers an intuitive interface for tracking your investments.
Account for day traders
Designed for active traders, the day trader account offers advanced features such as leverage and the ability to place fast, accurate orders. This account is ideal for those looking to profit from market fluctuations on a daily basis.
Custody account
The custody account is a secure option for investors wishing to minimize their exposure to securities lending risks. Although some features are limited compared to the standard account, this account offers additional peace of mind for those who value security.
Using the DEGIRO platform
How does it work?
Using DEGIRO is child’s play. After registering and opening your account, you can start trading almost immediately. The platform provides market analysis tools, interactive charts, and customizable alerts to help you make informed decisions.
The mobile app
For those who prefer to trade on the move, the DEGIRO mobile app offers all the essential features of the desktop platform in a convenient, easy-to-use format. Track your investments, place orders and keep up to date with the latest market news, all from your smartphone.
Awards and distinctions
DEGIRO’s quality has been repeatedly recognized in the financial industry. The platform has won numerous awards for its low costs, excellent customer service and innovative technology. These awards testify to DEGIRO’s commitment to providing exceptional service to its users.
Cryptocurrencies and DEGIRO
Crypto trackers
DEGIRO offers the opportunity to get involved in the world of crypto-currencies without buying them directly, thanks to trackers and ETFs. These financial products track the performance of specific crypto-currencies or baskets of crypto-currencies.
- Benefits: They offer exposure to crypto-currency movements without the need for a digital wallet or worrying about the security of digital assets.
- Risks: Like any investment, crypto trackers and ETFs carry risks, not least the volatility of the crypto-currency market.
Why choose ETNs and ETFs?
Investing in cryptocurrency-linked ETNs and ETFs via DEGIRO can offer several advantages, including:
- Diversification: They allow you to add a digital asset class to your portfolio without the complications of buying crypto-currencies directly.
- Simplicity: Investing is the same as for any other financial product on DEGIRO, using the same tools and interfaces.
Fees on DEGIRO
DEGIRO is renowned for its competitive fee structure. Understanding the different fees involved is crucial to maximizing your returns.
Basic fees
- Trading: DEGIRO charges transaction fees that vary by market and product.
- Connection to stock exchanges: Certain fees may apply if you wish to access specific market data in real time.
Miscellaneous fees
- Transfer fees: may apply if you transfer securities from a broker to DEGIRO or vice versa.
- Exchange fees: If you trade products in a currency other than your account currency, currency conversion fees may apply.
Comparisons
It’s worth comparing DEGIRO’s fees with those of other platforms to make sure you’re getting good value for money. DEGIRO is often positioned as a cost-effective option, especially for European investors.
Leverage explained
What is it?
Leverage allows traders to increase their earning potential by using borrowed capital. However, it also increases the risk of loss.
- How it works: You commit a small portion of the capital required for an operation, and DEGIRO provides the rest.
- Example: With a leverage of 10:1, you can open a €10,000 position with just €1,000.
Associated risks
- Potential for increased losses: In the event of unfavorable market movements, losses may exceed your initial investment.
- Margin calls: If the value of your position deteriorates, DEGIRO may require you to deposit additional funds to cover the risk.
Safety and regulations
Security and regulatory compliance are major considerations for any trading platform, and DEGIRO takes these issues very seriously, especially when it comes to crypto-currency-related products.
Protecting one’s money
At DEGIRO, protecting our customers’ funds is a top priority. DEGIRO separates customer assets from its own assets, which means that even in the event of bankruptcy, customer investments remain protected. What’s more, DEGIRO is regulated by several of Europe’s leading financial authorities, ensuring that the platform meets the highest standards of financial security and transparency.
- Cyber-security measures: DEGIRO uses advanced technologies to protect user data and transactions against cyber-attacks.
- User education: DEGIRO also provides resources to help customers understand how to protect their accounts from online threats.
Regulations followed
- Regulatory authorities: DEGIRO is supervised by the Dutch Central Bank (DNB) and the Financial Markets Authority (AFM), ensuring compliance with strict regulatory standards.
- Transparency and compliance: The platform is committed to maintaining full transparency with its users, regularly providing detailed reports on its operations and performance.
Pros and cons of DEGIRO
DEGIRO offers several advantages to investors interested in the crypto-currency market, but it’s also important to understand its limitations.
Good reasons to choose DEGIRO
- Competitive fees: DEGIRO stands out for its advantageous fee structure, enabling investors to carry out crypto-currency-related transactions at lower cost.
- Global access: DEGIRO users can access a wide range of international financial markets, including products linked to crypto-currencies.
- Tools and resources: DEGIRO provides powerful analytical tools and educational resources to help investors make informed decisions.
What to look out for
- No direct crypto trading: It’s crucial to understand that DEGIRO does not allow direct crypto-currency trading. Investors can access financial products related to crypto-currencies but cannot buy or sell crypto-currencies directly.
- Risks associated with derivatives: Products such as ETNs and ETFs can entail additional risks and require a thorough understanding of market mechanisms.
How to buy cryptos differently
Alternatives to DEGIRO for cryptos
If you’re considering investing in crypto-currencies and are looking for alternatives to DEGIRO, there are several options available to you. Each platform has its own pros and cons, and choosing the right one will depend on your specific trading needs, fees, security and ease of use.
- Crypto-currency exchange platforms: Platforms such as Coinbase, Binance or Kraken allow you to buy, sell and store a wide variety of crypto-currencies. They often offer user-friendly interfaces, mobile apps and various trading tools.
- Crypto-currency brokers: Services such as eToro or Robinhood also enable crypto-currency trading. These platforms can offer a more streamlined experience and are often regulated, which can provide an extra layer of security.
- Cryptocurrencies ATMs: In some cities, you can find ATMs that allow you to buy cryptocurrencies with cash. This is a fast option, although often more expensive in terms of fees.
- Direct buying and peer-to-peer (P2P): Platforms such as LocalBitcoins allow you to buy crypto-currencies directly from other users, often with a wide variety of payment methods.
Conclusion
Summary
This article explored how DEGIRO fits into the world of crypto-currency investing, although it doesn’t directly offer crypto-currency trading. We looked at DEGIRO account types, how to use its platform, fee implications, leverage, as well as alternatives for buying cryptos.
Final advice
Before diving into crypto-currency investing, whether via DEGIRO or any other platform, here are some final tips:
- Do your research: Understand each platform, its fees, features and risks.
- Invest prudently: Never gamble more than you can afford to lose.
- Diversify: Don’t put all your eggs in one basket. Diversification can help mitigate risk.
- Stay informed: The cryptocurrencies market is highly volatile. Stay up to date with the latest news and trends.
- Consider security: Use secure wallets, enable two-factor authentication and practice good digital hygiene to protect your investments.
FAQ
Does DEGIRO offer direct trading in cryptocurrencies?
No, DEGIRO does not allow direct trading in crypto-currencies. However, it does offer options for investing in trackers and ETFs linked to crypto-currencies.
What are the fees associated with cryptocurrencies derivatives on DEGIRO?
Fees vary by product type and market. Be sure to consult the specific fee information on the DEGIRO platform before placing any trades.
Does DEGIRO offer specific analysis tools for cryptocurrencies?
DEGIRO offers general market analysis tools, but it is recommended to consult specialized sources for in-depth analysis of cryptocurrencies.
