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Has anyone used the broker Degiro? Is it a good brokerage service (costs, terms, conditions)? How does it compare to Swiss banks?
Greetings,
Dutch broker Degiro has rolled out web-based services to a number of European countries in recent years. But while Degiro operates a website with a ".ch" domain, it does not have a Swiss subsidiary and is not licensed or regulated by financial supervisory authority FINMA.
The moneyland.ch online broker comparison only includes brokers which hold a valid license to operate in Switzerland and are regulated by Swiss financial authorities.
Using foreign brokers is only recommended for professional or experienced traders with a good understanding of the stock market and international tax and brokerage systems.
Best regards from Moneyguru
Hi to all. You can find a breakdown of Degiro's fees and charges in the following forum thread:
Degiro fees and charges
Degiro is a fraud. They started cleaning up their database from "passive" customers by demanding all sorts of private documents that go far beyond the usual financial audit and giving the deadlines that are very tight. Even for customers who used their platform for 5 years, while they made a lot of money on all the fees.
Furthermore when asked to transfer my portfolio to another broker account, since their demands were simply ridiculous, they asked for several hundreds of Euros for that service. And even then, they didn't transfer it. Instead the liquidated all my positions even though some the positions were negative and I explicitly warned them to avoid this from happening.
This can happen to you as well at any moment.
They also have one of the worst customer service I ever experienced and the worst data privacy standards. I am not even sure they are within the legal boundaries.
I will start a lawsuit against them as well as write complaint to all European financial regulators.
And last but not least, to all Swiss customers I would like to warn additionally. You are in the "high risk" group by default. Stay away from these "cheap" prices. In the end you will pay a higher price.
