When it comes to online brokers in Europe, DEGIRO stands out as a popular low-cost option for investors looking to access stock markets across the continent. However, DEGIRO’s availability is not uniform across all countries. This raises the key question: What countries is DEGIRO available in?
Summary
- DEGIRO operates primarily in Europe, with its core markets being the Netherlands, Germany, France, Spain, Italy, and Portugal.
- It has halted new client registrations in the UK due to unspecified regulatory issues. DEGIRO UK is not directly regulated by the UK’s FCA.
- Instead, it is regulated by BaFin in Germany and the AFM and DNB in the Netherlands. This exposes UK clients to different protections.
- For UK investors seeking alternatives, eToro offers a wider asset portfolio and UK FCA regulation, making it a compelling option.
New Developments on DEGIRO
- Recent reports indicate DEGIRO now has over 2 million clients across Europe, with €281 billion in assets under administration.
- The broker expanded to Italy in early 2022 to capitalize on high retail trading interest in the country.
- However, France generates the highest revenue for DEGIRO, followed by Germany and the Netherlands.
- DEGIRO’s parent group, flatexDEGIRO AG, aims to achieve 7-8 million brokerage accounts by 2026.
Key Metrics
- Over 2 million clients across Europe
- €281 billion in assets under administration
- 6.4 million monthly website visits
- Ranked 1st broker in the Netherlands
- Ranked 2nd broker in Germany
- Ranked 4th broker in France
- 19.55% bounce rate on website
- 7.74 pages per visit on website
- 84.87% of website traffic is direct
- 8.11% of website traffic comes from referrals
What Countries is DEGIRO Available In?
DEGIRO is available for retail investors in the following European countries:
- Netherlands (DEGIRO’s country of origin)
- Germany
- France
- Spain
- Italy (added in 2022)
- Portugal
- Austria
- Denmark
- Finland
- Ireland
- Norway
- Sweden
- Switzerland
It provides access to major European exchanges like Xetra, Euronext, and SIX Swiss Exchange. DEGIRO temporarily halted onboarding new UK clients in 2021.
Will DEGIRO Expand to the UK?
DEGIRO has not outlined specific plans for returning to the UK market. It paused registrations due to unspecified regulatory concerns, likely related to not being directly regulated by the UK’s FCA.
DEGIRO indicated it is working to resolve these regulatory issues. However, major changes would be needed to meet FCA standards. DEGIRO may need to establish a separate UK-based legal entity and apply for FCA authorization.
This process could take several months minimum. Until then, DEGIRO is focused on its core European markets, while UK expansion remains uncertain.
Where is DEGIRO Licensed?
Rather than country-specific regulators, DEGIRO holds an EU investment firm license through the following authorities:
- Germany: BaFin (Federal Financial Supervisory Authority)
- Netherlands: AFM (Authority for the Financial Markets), DNB (Dutch National Bank)
So DEGIRO is passported across the EU based on its BaFin license. But as it is not directly regulated by the FCA, UK investors do not receive the same protections.
DEGIRO entities in each country may hold additional local licenses, but the firm itself is not FCA-authorized.
What is the Best DEGIRO Alternative?
For UK investors, eToro stands out as the best alternative to DEGIRO. Reasons include:
- Regulated by the UK’s Financial Conduct Authority (FCA)
- Provides access to over 3,000 global stocks, ETFs, crypto and more
- User-friendly platform with social and copy trading options
- Secured up to $1 million per client under the FSCS scheme
- Competitive fees, with zero commission stock trading
- Highly transparent fee structure
So eToro offers more assets, strong regulation, and easier functionality than DEGIRO – making it a top choice for UK and worldwide investors.
Conclusion
In summary, DEGIRO is paused in the UK market while focusing on major European countries. It faces regulatory alignment issues with the FCA. As such, UK investors may prefer regulated brokers like eToro for now. But DEGIRO’s potential return could provide more investment options.
FAQs
Does DEGIRO operate in the USA?
No, DEGIRO does not currently accept clients from the USA. It is focused entirely on European markets.
What are DEGIRO’s fees and commissions?
DEGIRO offers discounted commissions starting from €2.50 per trade. There are zero commissions on certain exchanges. Inactivity fees, subscription fees, and currency conversion fees may also apply.
Is DEGIRO safe to use?
DEGIRO is regulated in the EU, so offers protections for European clients. However, UK investors do not receive FCA coverage. Overall, DEGIRO is considered safe within its regulatory scope.
What assets can I trade on DEGIRO?
DEGIRO provides access to stocks, ETFs, funds, options, futures, and bonds across European exchanges. Its exact product range varies between countries.
