Has anybody used Degiro for their account or would they consider using their service? https://www.degiro.co.uk/
The fees look extremely low.
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Has anybody used Degiro for their account or would they consider using their service? https://www.degiro.co.uk/
The fees look extremely low.
Already have an account?
Login here
Early days (they've only been in UK since June) but my experience with them is fine so far.
The fees are indeed far cheaper than other brokers, but the main reason I've used them is that they cover pretty much all the EU stock markets, unlike my ISA or SIPP brokers.
Also transactions from a GBP account on Euro Shares are made using an 'interbank' type rate whereas most brokers will charge a sneaky commission.
They don't do ISA or SIPPs yet, and they are regulated by the Dutch authorities so the guaranteed amount if the Company went belly up is less than the UK.
Against that Degiro argue that client funds are properly escrowed in a separate legal entity, so are actually more secure than with most banks or brokers.
Have not used them yet but look interesting, pity they don't have an ISA account.
I also came across this one: http://h2omarkets.co.uk/2-share-dealing/
Which has £2 trading for the first year. Also has ISA not sure if any fees on ISAs.
It's all very well going for the lowest charging brokers but do be careful - given that most people hold their investments in nominee form these days you're very much reliant on the firm you use not going belly up.
And I'm pretty sure many of these new smaller brokers charging miniscule commissions put ones assets at a significantly higher risk than say one of the established players - eg Barclays/TD/ and Co in terms of custody/bankruptcy risk and potential non segregation of assets in event of wind up..
All a muse as tend to avoid all these small new players so interested in those that use them vis "mitigation of such risks"
Yes good point and another consideration. I understand you are covered upto £50,000 under the FSCS? Not sure about Europe. Also I don't know what its like trading on their platforms, I have only used HL which seems quite good to me.
Yes good point and another consideration. I understand you are covered upto £50,000 under the FSCS? Not sure about Europe.
It's €100,000 through Europe, or close equivalent - it's currently £85k in the UK, dropping to £75k next year to reflect the strengthening of the £ against the €.
Peter
20k Euros on investment accounts. Your are thinking about guarantee of bank deposits (of which you are not the owner...).
Any latest feed back about this broker ?I am looking for any UK share dealing cheap brokerages..IB also looks interesting ..but £10000 deposit........
I appreciate anybody provide both brokerages feedback