haroldsxxx
Registered User
- Messages
- 14
What are the implications for Degiro a/c holders of the proposed merger / buyout by Flatex announced this morning?
Flatex has agreed to buy out Degiro for 250m euro. Flatex is another European broker with a public listing in Germany and with a German banking licence and is regulated by BaFin. Its shares have gone up this morning by c.15-20% so the market clearly thinks that it has done good business acquiring Degiro. This is not surprising: Degiro has nearly twice as many client accounts as Flatex and a broader geographical reach in Europe.
I like Degiro as a low-cost transaction only broker but my one concern has always been about the limited guarantee offered by its Dutch brokerage licence (up to 20k).
I guess that if the Flatex acquisiton concludes, the guarantee will be similar to that of other banks (100k) (?). This would be good of course.
According to BrokerChooser, Flatex has high fees for stocks, forex and ETFs. This suggests that Flatex could try and milk their much expanded clientele with higher fees. This would not be so good.
Flatex has agreed to buy out Degiro for 250m euro. Flatex is another European broker with a public listing in Germany and with a German banking licence and is regulated by BaFin. Its shares have gone up this morning by c.15-20% so the market clearly thinks that it has done good business acquiring Degiro. This is not surprising: Degiro has nearly twice as many client accounts as Flatex and a broader geographical reach in Europe.
I like Degiro as a low-cost transaction only broker but my one concern has always been about the limited guarantee offered by its Dutch brokerage licence (up to 20k).
I guess that if the Flatex acquisiton concludes, the guarantee will be similar to that of other banks (100k) (?). This would be good of course.
According to BrokerChooser, Flatex has high fees for stocks, forex and ETFs. This suggests that Flatex could try and milk their much expanded clientele with higher fees. This would not be so good.