The MetaTrader 4 (MT4) platform is incompatible with MetaTrader 4 degiro. This is so because MT4 is utilized for trading CFDs and forex. The traders cannot trade on markets like equities, bonds, ETFs, and others since DEGIRO does not engage in either of these instruments. However, its own trading platform provides MT4-like features.
However, MT4’s browser-based platform can be utilized with degiro to benefit from its customizable options and cutting-edge charting capabilities. degiro is currently unable to access MT5 and cTrader.
Markets that Are Open
Clients of degiro have access to a variety of market tools. Stocks, bonds, futures, options, index funds, ETFs, & investment trusts are among the investments that are available.
Although degiro does not offer its clients access to forex, CFDs, or cryptocurrencies, they make up for this by giving them access to a great selection of more than 5000 EFTs. Through DEGIRO, traders can purchase shares at 32 global stock exchanges in Europe, Oceania, Asia, or North America.
Structure for Fees and Commissions
The market’s lowest prices (up to 80% less than those of rival brokers) are what DEGIRO is known for. As a discount broker, its fees are quite affordable.
The trader must pay £1.75 plus 0.014% for each trade, up to a maximum charge of £5.00. Just €0.50 + USD 0.004 per share is required for trading on US stock exchanges. The fee schedule changes based on the instruments. Every broker typically levies two different sorts of fees to their clients: trading fees & non-trading fees. Broker commissions, interest rates, conversion costs, and spreads are examples of trading fees. When the client trades the assets, these costs are levied.
Non-Trading Charges
Non-trading costs don’t necessarily connect to trading activities. Non-trading fees include, but are not limited to, withdrawal fees, inactivity fees, & deposit fees.
Money transfers to trading accounts with DEGIRO are free for customers. When opening an account with DEGIRO, no minimum deposit is necessary. Although there are no withdrawal fees, there may be a conversion cost if the basis currency is different from the currency being withdrawn. Although DEGIRO does not charge for inactivity, the broker advises the client to cancel his account in that situation.
- Fees for Exchange Connection (Connectivity Fee)
- For trades conducted outside of the home market, DEGIRO levies connectivity fees.
- For instance, there are no trading fees for UK residents using the London Stock Exchange (LSE).
However, regardless of the volume of trades, the trader must pay €2.5 per year as an exchange connection charge if he purchases shares from any other brokers outside of the home market, such as the New York Stock Exchange (NYSE).
Education and Research
In terms of research capabilities, DEGIRO lags other brokers like eToro & Oanda. The WebTrader platform from Degiro has a straightforward layout and basic research tools that are appropriate for new and experienced traders. Its research skills are constrained because it does not deal with Forex and CFDs. It is one of the best paper trading app.
However, through its specialised portal “Investor’s Academy,” DEGIRO provides a selection of top-notch educational resources. New investors are meant to become familiar with the trading environment as well as its WebTrader platform through the teaching videos and blogs. For more seasoned traders, this is insufficient but may be helpful for new investors. DEGIRO would have been improved by having more sophisticated charting and analysis features.
Account Formats
Customers of DEGIRO can choose from one type of live account. The Basic account is what it’s called.
- The DEGIRO Basic Account, which is the basic account type, enables clients to trade in all asset classes without incurring any additional fees or restrictions.
- At DEGIRO, the custody account is no longer accessible. It serves as a starting account for novice investors. The clients cannot lend their shares to third parties, in contrast to the standard account. This is due to asset segregation, which is mandated by Dutch legislation to protect clients’ assets even in the event of a broker’s bankruptcy.
- Access to debit money, debit securities, and derivative trading are not available through these accounts. For such services, DEGIRO provides Active, Trader, and Day Trader accounts.