João C.
Good brokerage in the low cost spectrum
So far I cannot be more satisfied with T212.
Customer support is usually very responsive in a fairly timely manner.
For a no fee brokerage I could not be happier. Everything seems to work as designed.
There are some downsides, as no good statements for tax purposes and some corporate actions on a best (not so good) effort basis. Dividends are paid more or less a week after pay-date.
All in all, is a fair price for the inexistent fees.
Regarding order execution, I haven't noticed it to be bad, besides for market open orders.
Funding the account used to be free with credit/debit cards, but now there's a fee to do so. Alternative is via bank transfer, but for SEPA I have noticed to be a little slower than normal times.
Low cost broker, enough said
I am a DEGIRO customer for quite a while and I cannot say that I was ever fully satisfied, but my experience has been deteriorating as time goes by.
Platform is good enough for the low cost fees we pay, they keep innovating and introducing new features and also updating the UI design to be more modern.
Order execution is bad, but once again this is low cost, so don't expect priority for your orders.
The real downside is customer support. Before, it used to be just bad, now it's still bad but also they take at least a week to get back to you. If you call them they cannot do anything over the phone and can only ask you to write an e-mail and be patient.
There are other things that annoy me as a costumer of DEGIRO and the fact that they do not validate your W-8BEN just because your country of residence, country for tax purposes and the country of your bank account are not the same. This makes no sense if all the given countries do not classify you as a US person.
That you cannot maintain your personal data by yourself is also unthinkable. It should be more than trustworthy that the person who has access to its account is the owner of the account. Otherwise this leads me to think that even DEGIRO does not trust enough on their own platform security.
Another unthinkable issue is that you can only fund your brokerage account and withdraw your funds to one single bank account. Why can't your customers fund DEGIRO from all their bank accounts?! Nonsense.
Hope this feedback helps DEGIRO improving their services and that all potential DEGIRO clients in making an educated decision about this broker.
Thank you for your feedback.
We regret to hear your experience hasn't been great at DEGIRO.
Due to the workload, it hasn't been possible to keep our response time within the desired time-frame, however, we are expanding the team and in short-term we will be able to support you fully.
Best regard,
DEGIRO