DEGIRO app: main features and functionality
You can trade all sorts of securities on the DEGIRO mobile application, including funds, stocks, ETFs, warrants, options, futures, and bonds. The main appeal of this company is that you can invest in many securities at low costs as they charge meager commissions.
In 2013, DEGIRO stepped into the broker market. The commission structure at DEGIRO is highly competitive and available in 18 European countries for retail investors. It has more than 2 million subscribers (60-70% derived from the interactive mobile applications), making it succeed in becoming one of the industry benchmarks in Europe.
Many companies provide similar functionalities, such as Interactive Brokers and Saxo Bank. So let's compare these three apps for a better, transparent, and unbiased assessment of DEGIRO app review.
| DEGIRO | Interactive Brokers | Saxo Bank | |
|---|---|---|---|
| Mobile App Rating | 4.2 | 4.4 | 4.2 |
| User friendliness | Very | Very | Better than average |
| Updates | Frequent updates to improve your experience. It was last updated on 28-Sept-2022. | Frequent updates to make your experience better. It was last updated on 01-Dec-2022 | Frequent updates to make your experience better. It was last updated on 18-Nov-2022 |
| Biometric and two-factor authentication | Yes | Yes | Yes |
Let's learn more about this flourishing company, which has made trading in securities hassle-free and more straightforward.
How to download and set up the DEGIRO app?
You can download the DEGIRO app from the play store on android and from the app store on IOS.
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To start, choose your country.
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Enter your email, username, and password.
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Verify your email address.
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You will have to enter your personal information, such as full name, date of birth, address, etc.
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Enter the details of the bank account from which you intend to fund your DEGIRO account.
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Verify that the details you have mentioned are correct.
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You will have to verify your identity, and you can do that by uploading a copy of your EU ID card or passport.
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DEGIRO will take some time to verify your identity. Once it is identified, you will have to give them your tax information by entering your tax identification number.
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Make your first deposit in the account.
Once everything is verified, select the type of DEGIRO account you want.
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You will have to accept their legal terms and conditions and confirm via SMS.
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You will have to take a test based on the securities you want to trade. You can take tests multiple times in case you fail.
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Voila! You are all set.
Main features of the DEGIRO mobile app:
Multiple accounts
You can open multiple types of accounts simultaneously with the DEGIRO mobile app. These accounts are ideal for both novice investors with little investment and experts managing traders or who have amassed wealth. Although the feature sets of the accounts vary, they are all available on the same platform, making it simple to switch between them.
Withdrawal fee
Withdrawals from DEGIRO mobile app are free of charge. The corporation ensures that they remit the withdrawn amounts via bank transfers, and the processing time is typically three working days. However, the majority of transactions are completed in under a day. For security reasons, DEGIRO mobile app does not permit traders to move funds to an account with a different identity. Traders have the option of withdrawing their entire account balance.
Multiple order types-
DEGIRO has multiple order types available on the mobile application, including Stop Loss, Trailing Stop, Market, and Limit.
Multiple language support-
DEGIRO mobile app currently supports multiple languages, including- French, English, Spanish, Italian, Greek, Danish, Polish, German, Swedish, Portuguese, Norwegian, and many others.
Investment instruction
The DEGIRO website has developed a sizable "KNOWLEDGE" section to assist new investors. It contains comprehensive data on the fundamentals of stock market trading, several kinds of analysis, and charts of international stock exchanges.
Additional features of the DEGIRO app
DEGIRO is a multilingual platform that supports over 15 languages.
DEGIRO offers a wide range of charts and tools to help traders make informed decisions. However, those charts need more detailed information and are pretty simple. Streaming quotes are available in real-time, as are technical indicators and stock orders by value and number.
Both email and phone help are excellent. The platform is multilingual and accessible in over 18 countries, which is the greatest asset because traders may communicate with the phone support service in their own tongue.
The DEGIRO mobile app employs encryption technologies to guarantee that customer data is kept safe and secure. Google Authenticator's two-factor authentication also improves security, and finally, because the money is housed in different entities, it is safeguarded against the platform's bankruptcy.
It has a fast and friendly user interface which enables you to execute a trade swiftly.
Main advantages and disadvantages of the DEGIRO mobile app
The advantages of the DEGIRO Mobile App are:
It does not require a minimum deposit
Several trading options
Distinct user funds
User-friendly and fast interface
Low trading costs
The advantages of the DEGIRO Mobile App are:
No Forex available
Tools for research are limited
Deposit from a Debit/Credit card is not available.
FAQ
Is there a fee associated with opening a trading account?
DEGIRO imposes most of its fees into two rates
You can open a DEGIRO account on the mobile application for free. Additionally, you can sign up and activate your account without cost.
What does upgrading my account cost?
There are no fees to upgrade the user account. It is free to upgrade your basic account to a trader account or active account.
What are the profiles that DEGIRO offers?
DEGIRO provides four distinct profile types— Basic, Active, Trader, and Day Trader.
Which profile is the riskiest and least risky?
A basic account profile has the lowest investment risk, and a day trader account profile has the highest investment risk.
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Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.