Degiro vs. Interactive Brokers: Comparison of the best online brokers
There are many trading platforms on the Internet today. Some of them are reputable and some are not. The best brokerage firms offer the best service to their clients. If you are wondering which brokerage company is the best for you, read this article to find out the difference between Degiro and Interactive Brokers. Both brokers are excellent in their own way, and they cater to a wide range of clients. Before making a final decision, consider the following points and make an informed decision. If you are considering trading stocks, mutual funds or ETFs, check whether the brokerage firm supports these trading instruments. If you are new to trading, you should check the broker's training requirements. If you are looking for a low-cost option, Degiro or Interactive Brokers are not for you. Once you are done with the details, you can decide which brokerage company is right for you. Let's take a look at the comparison between Degiro and Interactive Brokers.
+ Degiro offers a free market research tool - Degiro Express: When you create an account with Degiro, you get a free account analysis and market research tool. This is a great way to get a quick idea of what stocks you want to buy or sell. There is no need to go through the various stock exchanges or research sites. It's the fastest way to find the best stocks and ETFs for your portfolio.
+ Low cost - Degiro is the cheapest brokerage company. You can open an account with an initial deposit of 100 $. Although many brokers offer very low commissions, you will only pay a fee of 0.15 % if you choose to trade less than 10 shares per month.
+ Ease of use - With the free market research tool, finding and trading stocks is easy with Degiro. This is a brokerage company with a very user-friendly platform. You'll find it easy to navigate and learn the ropes of online stock trading, regardless of your experience level.
+ Good support - If you have any questions about your account, need help navigating the complex world of stocks or ETFs, or want to make a trade, you can contact customer service 24/7. There is also a useful FAQ page with lots of information to help you get started. - A little more complicated - The trading platform is very similar to that offered by Interactive Brokers. Although it is easy to get to grips with, it can seem a little more complicated than other platforms, and is therefore more suitable for experienced traders. - The minimum deposit is 2,500 $. If you are just starting out, it may be difficult to find a broker that allows a trading account of 100 $.
Degiro's aim is to provide excellent services at low prices to its customers. They achieve this by cutting costs in every way possible. No expense is spared when it comes to making sure that trading with Degiro is as simple as possible. The brokerage prides itself on having the lowest brokerage fees in the market, with a commission of just 0.15%. There is also no commission on stocks and ETFs under 10 $. The trading platform also offers many interesting features. You can download the app for iOS or Android and trade anytime and from anywhere. It's also easy to sign up for a live webinar or watch an instructional video on how to trade stocks and ETFs. There is no minimum account size for traders. You can open an account as low as $100. Some brokers impose a minimum of 500 $ or more, which may discourage people from trading stocks online.
Degiro is a family run brokerage that prides itself on excellent customer service. You can reach them by phone, email, chat and social media. If you have a question or need help, they are available to help you. They also have a useful FAQ page with articles on the most common questions. There are several ways to get in touch with customer service. You can open a ticket on their website or use the live chat feature. If you prefer to speak to a representative by phone, you can make a request on their website. Unfortunately, there is no telephone FAQ page to answer the most common questions. The representatives are polite, fluent in several languages, and willing to help you. You can also contact each team member individually on Facebook, LinkedIn and other platforms.
Degiro offers a very simple platform for beginners. You can enjoy trading stocks and ETFs on a very simple platform with minimal information needed to get started. There are no complicated charts and indicators to distract you from the main task at hand. You can start trading stocks immediately after creating an account with Degiro. All you need is 100 $ and you are ready to go. If you want to start trading ETFs, you can do so with just a few mouse clicks. The interface is also very user-friendly and presents the information in an easy-to-read format. The layout is simple and the font is large, making it easy to see what you are looking at.
+ There are fewer exchanges supported. You can only trade stocks on the NYSE or NASDAQ exchanges. If you want to trade on other exchanges, such as the London Stock Exchange or the Frankfurt Stock Exchange, you will need to do so with a broker that supports these exchanges. + There are more security risks on electronic trading platforms. Many exchanges have been hacked recently. If you choose to trade stocks on an electronic platform, you run the risk of your account being hacked or your information stolen. + Fees are higher for assets held in cash. If you want to withdraw funds from your account, you have to pay a small fee. However, if the cash is held in a money market fund or brokerage account, the fees are much higher. - There is no margin trading. Margin trading allows you to borrow funds to buy stocks. It is a way to increase your potential profit. Unfortunately, there is no margin trading with stocks. - You can only trade stocks and ETFs. If you want to trade other assets or commodities, you will have to do so with another brokerage firm.
+ Better support - Interactive Brokers offers a more user-friendly service than Degiro. Representatives are available via chat, email and phone. If you have a question, they will respond within 24 hours.
+ Many people complain about poor customer service on weekends and holidays with Degiro. Interactive Brokers is available all the time and is generally much more pleasant to deal with.
+ Better customer service documentation - Degiro relies heavily on FAQs and videos, which are mostly outdated and hard to find. Interactive Brokers has better written documentation that covers the most popular topics and is easier to find.
+ Better security on trading platforms - Interactive Brokers is a financial services company, so it is more likely to protect your accounts from hackers.
You may have noticed that there is little difference between Degiro and Interactive Brokers when it comes to fees. However, the brokerage company you choose is an important factor in your success as a trader. Interactive Brokers is a well-established brokerage firm that was founded in 1986. This brokerage has been providing brokerage services to investors for over 40 years. They offer many different trading platforms and follow strict security guidelines. You can rest assured that your information will be kept safe when you use Interactive Brokers. Interactive Brokers offers many different trading options, including stocks, ETFs, futures, options and more. You can also choose from a wide variety of brokerage accounts, including free and low cost options. You can also trade with a credit card or with a brokerage account that accepts virtual currencies such as bitcoin.
It is important to note the main differences between Degiro and Interactive Brokers. The main difference between these two brokers is that Interactive Brokers is more flexible. This means that you can trade more products through Interactive Brokers. This brokerage company is also more expensive than Degiro. The second main difference between Degiro and Interactive Brokers is that Interactive Brokers supports more trading instruments. The brokerage company also has more trading tools than Degiro. The final difference between Degiro and Interactive Brokers is that Interactive Brokers is more expensive than Degiro. The brokerage company also has a higher expense ratio than the Dutch discount broker.
Now that you know the differences between Degiro and Interactive Brokers, you can decide which brokerage company is best for you. First you need to decide what you want to trade. Once you know what you are looking for, you can narrow down your search to the best brokerage firm. If you decide to trade stocks, ETFs or mutual funds, Interactive Brokers is a good choice. This brokerage firm offers high-level capabilities, as well as a low-cost option. Degiro is also a good choice for these types of trading instruments. If you are looking for a low cost brokerage firm, Interactive Brokers is not for you. This brokerage has a high cost, and it has strict trading policies. Once you have decided on the type of brokerage you want to use, you can decide which brokerage company is best for you.
Table of contents
- Degiro vs. Interactive Brokers: Comparison of the best online brokers
- Advantages of Degiro
- Degiro is a low cost broker.
- Degiro has excellent customer service.
- Degiro is easier to use for beginners.
- The disadvantages of Degiro
- Benefits of Interactive Brokers
- Interactive Brokers is a premium brokerage firm.
- Main differences between Degiro and Interactive Brokers
- Conclusion: Which broker is right for you?