What is DEGIRO Minimum Deposit and Deposit Methods

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10 min read/Updated: 14.09.2020

Degiro Risk Statement

Established in 2013, DEGIRO is a leading stockbroker trading platform that originated in the Netherlands. The broker is known for its impressively low commissioning structure. Thus, this article will closely look at DEGIRO minimum deposit, how to make your deposit, what DEGIRO trading platform is like, and what the best options and choices are for you.

Summary of the article

  • What is DEGIRO’s Minimum Deposit amount?
  • DEGIRO’s deposit fees and currencies
  • DEGIRO’s deposit methods
  • Why DEGIRO’s ?
  • How long does the deposit take to appear in your account?
  • What Markets Does DEGIRO’s Offer?
  • What Is the DEGIRO’s Trading Platform Like?
  • The DEGIRO’s Cash Fund

What is DEGIRO Minimum Deposit?

Those wondering what the DEGIRO minimum deposit is, it happens to be an easy one: zero. That’s right. It’s not something you’ll see with every broker comparison, but DEGIRO has no minimum for you to get involved and invest. However, you will need to transfer a sum of £0.01 to verify your account if you are a beginner.

Additionally, DEGIRO charges no fees to withdraw or deposit funds via manual money transfer.

DEGIRO Minimum Deposit vs. Other Brokes

Broker
DEGIRO
Plus500
eToro
Pepperstone
XM
IG
Minimum Deposit
$0
$100
$200
$200
$100
$300

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Additionally, DEGIRO charges no fees to withdraw or deposit funds via manual money transfer.

DEGIRO Deposit Method

Registering for your DEGIRO minimum deposit will mean that you have to pay directly into their bank. This may seem a little unusual, but it is also considered one of the safest ways to pay – after all, bank to bank transfers will cut out any middlemen and allows them to keep costs low.

Additionally, all transfers must be made in your base currency of GBP. Any payment sent in a currency other than GBP will be converted into GBP and may be subject to currency conversion charges applied by either the sending or receiving bank.

DEGIRO is not liable for these charges.

Find out below for the simple steps to deposit funds into your DEGIRO account. First and foremost, remember to open a broker account with the trading platform.

  • Log in to the WebTrader and
  • Click the ‘Deposit/Withdraw Funds' button
  • State the amount you would like to transfer

Typically funds will be transferred within 2 to 4 working days.

There is only one deposit method for DEGIRO, as below.

Bank Transfer

DEGIRO only allows transfers from bank accounts from accepted countries and that are in your name.

You must register one bank account in your name and link it to your DEGIRO account during the registration. This is the primary bank account linked to your DEGIRO account. DEGIRO will only allow the withdrawing of your money to this bank account.

DEGIRO does not accept any third-party app such as Paypal and TransferWise. Any transfer sent from a third party bank account will be returned to the account it was sent from.

Why Degiro?

The Lowest Rate

DEGIRO has, at various points, described itself as the cheapest broker, able to offer fees well below what you would expect from your typical broker.

There may now be challengers to this structure since DEGIRO began to gain traction in 2015, but they can still claim that they are far cheaper than many others.

Although their original intention was to become a platform for professional brokers who wanted to reduce their fees, they now frame themselves as offering a professional broker service, at retail rates, for retail investors.

This leads them to offer what they say is the best stock broker: an offering of a rate of 85% less than that of their competitors, which is quite a feat.

What is also interesting is that they offer a “cost calculator”’ to potential investors, so they can input what they expect to trade in a year, and DEGIRO will tell you exactly how much you’ll pay in fees.

What's more, DEGIRO can help distinguish the difference between how much of that figure is from what goes to them and how much of it goes to third parties such as funds or leverage products. With this level of transparency and precise removal of jargon from the terminology, it's not hard to see why a platform like this is proving popular.

Award-Winning Broker

degiro-award-winning-services

DEGIRO appears to want to be very clear and upfront about their credentials. It is stated in their “About DEGIRO” page on their website that they have won a total of 65 international awards. Some of the most prestigious awards that they have received are as below.

  • Best Broker for Stock Trading – BrokerChooser 2020 (UK)
  • Best Discount Broker – BrokerChooser 2020 (UK)
  • Best Stockbroker – Rankia 2019 (Spain)
  • Best Customer Service – Rankia 2019 (Spain)
  • Best Broker – Cashcow Award 2019 (Netherlands)

What Market Does DEGIRO Offer?

Degiro minimum deposit
The strapline on DEGIRO’s website is simple – offering worldwide investing availability with access to over 60 different exchanges globally, spanning 30 countries and over two million products.

The first list of offerings on their website starts with shares and many of them. There are all the stock exchanges you would expect to see from a stockbroker, and this one doesn’t disappoint.

  • Access to worldwide exchanges
  • Clear routing types
  • Different trading instruments available
  • Clear order types

There are two types of routing mechanisms available, with some offering “Direct to Market” and some offering “SOR” or “Smart Order Routing” which allows you the pick of execution as it offers you the best prices for any given exchange.

These exchanges include markets in Europe, North America, Asia, and Oceania. There are also bonds available on European exchanges, and options and futures to invest in the worldwide market.

DEGIRO also makes it clear which products can be invested in terms of the type of order – so you know that, for example, you cannot get market order on your options, leveraged products aren’t classed as good until cancelled, and so on.

This attempt to make everything so clear is a draw for many investors, as it can well be seen that some trading platforms use language and an approach that can make it hard for those who don’t understand investing but would like to get involved, and things like this help.

What is The DEGIRO Trading Platform Like?

DEGIRO is determined to provide a trading platform for all investors, both now and in the future, and demonstrate that they can rely on the service.

With innovations, including their “QuickOrder” function, allows for a fast response when you see something happen in real-time that you want to trade-in immediately. They also offer streaming trading prices so you can keep up to date as things happen and make informed decisions.

DEGIRO also offers a mechanism that displays how many stocks you purchase and the exchange between currencies.

You can also find handy tools, such as bookmarking investment potential you want to come back to, with favourites setting. Other trading platforms may also offer these handy little tools. Still, our DEGIRO review highlights that the company intends to place this at the forefront of everybody's minds – this is what they're about, and they want people to know it.

Not every broker makes it as clear as this to see all the different options, and DEGIRO is clearly on one side of the fence with this. User-friendly platforms are very much growing in number as investing is increasingly being seen less as a reserve solely for those who work in stock exchanges.

The DEGIRO Cash Fund

Degiro minimum deposit to start trading
Due to the way they were set up, it seems that DEGIRO operates a little differently to some other brokers, which is something they sought to make clear.

Following new legislation intended to tighten restrictions around Fundshare Cash Funds, stricter investment policies now apply to some of their Cash Funds, including FundShare EUR Cash Funds, the FundShare USD Cash Fund, and the FundShare GBP Cash Fund.

In effect, this will reduce the time available on each loan, and the credit ratings of each loan will also increase.

  • Adherence to legislation
  • Transparent reasoning
  • Asset protection
  • Lower risk

They also explain money market funds – which they describe as necessary as they are an investment firm rather than a bank, and from their base in The Netherlands, it is prohibited to hold the cash of their clients.

This has more than one benefit, with one being the sudden and unexpected liquidation to the investment firm, and that all your assets are protected under this strategy.

The money market firms also allow for as low a risk as possible and aim to fund each trade as close to market rate as can be viable. It then reveals that this kind of policy is used to protect money in large holdings such as pension funds, with over one trillion euros being held in these money market funds all over Europe.

These kinds of policies are great if you plan to invest large amounts

One of Europe's Largest Trading Platforms

DEGIRO is by no means afraid to shout about how well they think they're doing, and they seem confident in their reasoning behind calling themselves one of Europe's largest trading platforms.

They already say they are “well on the way” to becoming the biggest on the continent. Figures suggest these claims of growth are well-founded, with an increase of 45% in open accounts at the time of writing compared to the previous year, which is an impressive growth level.

  • 633,175 accounts in 2020
  • 24.5 million transactions
  • Transaction percentage increase as of 133% compared to the same period in 2019

These figures indeed highlight why the steadily improving noise and traction around DEGIRO appear well-deserved.

It is unusual to see this kind of regularly updated information about a private company, especially an investment firm. There may well be a good chance that this kind of transparent intention would appeal to investors who feel that a regularly-evolving website is just as important as the platform itself.

If this is what you're looking for in a service, this may be the one for you.
degiro

Conclusion

The fact that DEGIRO does not require a minimum deposit makes it straightforward and evident that they like doing things differently. By choosing only to allow deposits through direct bank transfers, this kind of canny cost-reduction has allowed them to redirect these potentially lost funds into reducing fees significantly compared to many of their rival brokers.

It has also catapulted them firmly into the spotlight as one of Europe's market leaders in the last couple of years.

The most appealing part of DEGIRO, aside from the fact that anyone who wants to invest, can – with only £0.01 needed to begin – is simply the level of importance they place on reducing jargon, being clear about their premise, and being as up-front and updated as they can. With several awards in the bag, it may not be long before more join their trophy cabinet.

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FAQs

Log in to the WebTrader and click the ‘Deposit/Withdraw Funds’ button. Then select the option ‘Transfer funds from your investment account to your nominated bank account.’ State the amount you would like to transfer. Typically funds will be transferred to your nominated bank account within 2 to 4 working days.

Yes, DEGIRO is a good trading platform for beginners. With zero minimum deposit and a website that is easy to navigate, this broker is a great choice to kick start your trading journey with.

Yes, you can rest assured that your investments are held securely. DEGIRO uses a separate custodian entity to hold your assets. This means they are completely segregated from the assets of DEGIRO.