De Giro broker

Discussion in 'Investments' started by Username2012, Jun 15, 2015.

  1. Username2012

    Username2012 Frequent Poster

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    Anyone have experience with this company? Saw it advertised and it looks seriously cheap compared to the others in the market, even the UK brokers.

    Appears to be coordinated write ups in the IT, Indo and the UK papers (looks like launched in UK as well) - which gives me confidence that it is legit. Thanks.
     
  2. RichInSpirit

    RichInSpirit Frequent Poster

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    It's just newly launched for the Irish market but I think it's been around for a few years elsewhere.
    As far as I can tell it's regulated by the Dutch Central bank.
     
  3. gbh2930

    gbh2930 Frequent Poster

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    Here is their fee comparisons with other platforms: https://www.degiro.ie/fees.html
    Looks very good. If only they also had a PRSA wrapper for trading like Davy does...
     
  4. landlord

    landlord Frequent Poster

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    What are the correct questions to ask them in terms of whether you shares are secure in the event that this broker goes under.
     
  5. gbh2930

    gbh2930 Frequent Poster

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  6. landlord

    landlord Frequent Poster

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    Response from central bank....

    Dear Mr .......


    I refer to your email.


    The full list of entities regulated by the Central Bank of Ireland is available on our website at the following link:

    http://registers.centralbank.ie/


    As there is no reference to a company by the name of Degiro on our register, it would appear that we do not regulate this company and therefore we cannot be of any assistance to you. As Degiro operates under the regulatory supervision of De Nederlandsche Bank (DNB) and the Financial Markets Authority (AFM) you may wish to contact either of those regulators for the information you require.
     
  7. Username2012

    Username2012 Frequent Poster

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    I had a look there, they are on the AFM website (http://www.afm.nl/) and it says they are (using my best google translate dutch....) registered for:

    Investment service ( 2:96 ) a Receiving and transmitting orders 17 Sep 2009
    Investment service ( 2:96 ) b Execute orders on behalf of clients 28 Feb 2012
    Investment service ( 2:96 ) c Investment Sep 17, 2009
    Ancillary Service b Lending

    Looks to be the real deal.
     
  8. username123

    username123 Frequent Poster

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    Are TDWaterhouse (or other commonly used online brokers) actually regulated by the central bank? I couldnt find them on any PDF at http://registers.centralbank.ie/
     
  9. landlord

    landlord Frequent Poster

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    No...as per my post above.
    When I phoned Degiro they said cash and securities late held in a separate account and there is no risk of a customer losing their cash or securities if the company went into liquidation.
    I am still not convinced. How big is this company in Holland?
     
  10. username123

    username123 Frequent Poster

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    Wasnt your above post about Degiro though? I was asking about TDWaterhouse and other online brokers. My point was are Degiro any different from other discount online brokers in regards their (non) regulation with Central Bank.
     
  11. landlord

    landlord Frequent Poster

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    Oh yes sorry...
     
  12. RichInSpirit

    RichInSpirit Frequent Poster

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  13. landlord

    landlord Frequent Poster

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    From the Dutch central bank......

    Dear Mr. ........,

    De Nederlandsche Bank (DNB) has received your e-mail of 23 June 2015 in good order. In answer to your questions we can inform you as follows.

    DeGiro BV is listed as an investment firm in the´Register investment firms´of the Netherlands Authority for the Financial Markets (AFM). This means that DeGiro BV is subject to the supervision of the AFM. DNB carries out the prudential supervision of this institution. Stichting De Giro, the legal entity which DeGiro BV uses to manage financial instruments and funds of clients, is only subject to the supervision of conduct of the AFM.

    To access the register, please click on the following link:
    http://www.afm.nl/en/professionals/...+giro&id=3708F58C-68A1-E011-A203-005056BE6692

    Stichting De Giro is not covered by the investor compensation scheme or deposit guarantee scheme.

    As the AFM is the supervisor on investment companies in the Netherlands, please contact them for more information on DeGiro BV.

    They can be reached through the following contact details:

    Postal address:
    P.O. Box 11723
    1001 GS Amsterdam

    Email from Netherlands Authority for the Financial Markets (AFM).......

    Dear Sir,


    With reference to your email dated the 24th of June, we kindly inform you as follows. We are unable to give any guarantees or information on reliability. You should investigate if the asset separation has been fully implemented in the company and is mentioned in the contract. Also you may want to ask DE GIRO tot state how the company has been set up and to assure you that your shares are safe in case of bankruptcy and how they do that.

    Furthermore you may want to check our register.


    Should you have any questions you can contact +0800 – 540054 (tollfree) or +31207972000 (from abroad).


    Best regards,

    Mr.......

    Consumer Information Officer

    Communications


    Phone: +31 20 7972000


    Netherlands Authority for the Financial Markets

    Visitingaddress: Vijzelgracht 50 - Amsterdam

    Postaladdress: Po Box 11723 - 1001 GS Amsterdam

    As clear as mud?
     
  14. settlement

    settlement Frequent Poster

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    So the jury is still out on De Giro?
     
  15. landlord

    landlord Frequent Poster

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    I started investing with Degiro a couple of weeks ago.
    The process involved in setting up the account was incredibly easy. In fact it only took three days, with TD waterhouse it took over three months.
    Customer service with TD Waterhouse is appalling. You could be waiting up to 20 minutes or more for them to answer the phone. Degiro answer the phone within 10 seconds from my experience so far.
    The specific ETFs I wanted were not available with TD waterhouse (ETFs denominated in euros). Degiro had them all.
    Also Degiros transaction charges are shockingly cheap.
     
  16. username123

    username123 Frequent Poster

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    Also started with them, about a month ago. All good so far. Monthly trades only.

    ETF search box in a bit finicky I think, sometimes it didn't find fund but it was actually in the list when I removed my search filter, which was the same. Nothing more than a minor annoyance though
     
  17. landlord

    landlord Frequent Poster

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    661
    Last edited: Aug 17, 2015
    There are 2 ways of searching for ETFs or shares on the website.
    1 Click on place an order, then search......doesn't seem to work that well.
    2 the search window at the top of the screen.....works well !!
     
    Last edited: Aug 17, 2015
  18. settlement

    settlement Frequent Poster

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    Do DeGiro have an inactivity fee?
     
  19. username123

    username123 Frequent Poster

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  20. EdAthlet

    EdAthlet New Member

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    someone tried trading IPO's ? Does interface allows to place order immediately after IPO release? or even earlier? I know that TD does. How big is the range of available stocks let's say on NASDAQ DeGiro allows to trade? As I know some online platforms limit list of stocks to the twenty or thirty with the well-known names.