Is Degiro Scam? | Degiro Safety and Reliability

Pros

Cons

  • Regulated by BaFin
  • Client protection amount
  • Supervised by DNB
  • Listed on the stock exchange
  • No negative balance protection

Introduction

Degiro broker was founded in 2008, and launched its brokerage services in 2013, in the Netherlands. after that, Degiro expanded to 18 European countries, allowing investors to trade from different countries. Degiro is also regulated by top-tier financial authorities and has several trading options including stocks, options, futures, bonds, and mutual funds. It also has competitive pricing fees among other brokers as well as a fast account opening process. along with that, Degiro offers great educational tutorials to help new clients learn to trade.

Is Degiro Regulated?

The Degiro broker is regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in Germany.

On the other hand, Degiro is not regulated by the top-tier FCA, the Financial Conduct Authority which is a very trusted regulator.

Is Degiro a Scam?

Degiro has a long tracking record since its foundation in 2008. It’s also supervised by the Dutch Central Bank and passed through different financial crises. Also, Degiro is listed on the stock exchange and announces its financial statements regularly.

Client Protection

Degiro has a client protection amount under the supervision of BaFin up to €20,000. There’s also protection on client funds up to €100,000.

Negative Balance Protection

Unfortunately, Degiro has no negative balance protection.

Two-step Verification

Degiro has the safer two-factor authentication method food login.

Degiro Awards

Since its foundation in 2008, Degiro was awarded many awards like:

  • 2020:
  • Best Stock Broker by Rankia (Portugal)
  • First Place Daytrader Broker by Broker-Wahl.de (Germany)
  • Best Broker by Rankia
  • 2019:
  • Best Mobile Sharedealing in Investment and Wealth Management Awards
  • Best Low-Cost Stockbroker in Investment and Wealth Management Awards
  • Best online broker by Börse-online.de (Germany)
  • Best Stock Broker by Rankia (Portugal)
  • First Place Daytrader Broker by Broker-Wahl.de (Germany)
  • Best online broker by Cashcow
  • Best Broker by Rankia
  • 2018:
  • Best online broker by Cashcow
  • Best Broker by Danish Shareholders Association (Denmark)
  • best online broker in Client Satisfaction, Client Service, Mobile Platform and Value for Money by Investment Trends
  • Best Broker by Rankia
  • Best Online Broker in the Golden Bull Awards
  • Lowest fees in France by Investir (France)
  • 2017:
  • Best Mobile Sharedealing in Investment and Wealth Management Awards
  • Best Low-Cost Stockbroker in Investment and Wealth Management Awards
  • First Place Daytrader Broker by Broker-Wahl.de (Germany)
  • Best online broker by Cashcow
  • Best Broker by Rankia
  • Best Online Broker in the Golden Bull Awards
  • Lowest fees in France by Investir (France)
  • Best Mobile Share Dealing by Financial Times and Investors Chronicle (UK)
  • 2016:
  • Best online broker by Cashcow
  • Best Broker by Rankia
  • Lowest fees in France by Investir (France)
  • Best Online/Execution-Only Stockbroker by Financial Times and Investors Chronicle (UK)
  • 2015:
  • Best Online Broker in the Golden Bull Awards
  • Lowest fees in France by Investir (France)

FAQs

  1. How long does it take to verify my account?
  • It takes about 1 to 2 business days to verify your Degiro account.
  1. Can I open more than one trading account?
  • Yes, you can open more than one account in different currencies.
  1. Is it possible to use a Two-step Verification?
  • Yes. Degiro offers the use of Two-step verification via Google Authenticator.
  1. Is there a trading confirmation alert on Degiro?
  • Yes, Degiro has an option to set a confirmation order alert.
  1. Does Degiro allow bot trading?
  • Yes, through Degiro API.
  1. Where is my money held?
  • It’s segregated into several client accounts.
  1. Does Degiro accept payments from third parties?
  • Payments should be from a bank account that has the same name as yours.


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