De Giro broker

EdAthlet said:
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.
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No idea on IPOs but just checked and it is showing me 112 pages of stocks listed on NASDAQ, with 25/page and 21 on the last page for just shy of 2800 stocks.
 
I was looking at setting up with De Giro.
Just doing some searches to find some reviews and I've noticed the same complaint in a lot of places.
Example:

"Firstly, you allow DeGiro to lend your shares to anyone. If the counterparty goes under, and the loss exceeds the margin - you'll suffer the loss. The company claims such provision is "normal" for western brokerages. However, I've never come across such practices on my local market"

This is usually followed with a reply that 'share lending' is standard practice and nothing to worry about.
I wonder does anyone with a bit more knowledge have a take on this?
 
StormCloud said:
I was looking at setting up with De Giro.
Just doing some searches to find some reviews and I've noticed the same complaint in a lot of places.
Example:

"Firstly, you allow DeGiro to lend your shares to anyone. If the counterparty goes under, and the loss exceeds the margin - you'll suffer the loss. The company claims such provision is "normal" for western brokerages. However, I've never come across such practices on my local market"

This is usually followed with a reply that 'share lending' is standard practice and nothing to worry about.
I wonder does anyone with a bit more knowledge have a take on this?
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Funds often lend securities to make money. Likewise DeGiro does because it is super cheap and they have to pay costs somehow.

As you rightly say, typical brokers don't lend securities. So they cost more but are perhaps less risky.
 
I get a 17.5 euro taken from my DeGiro account as Giro Exchange Connection Fee Till 2015

Did anyone see this fee in the DeGiro account?
 
username123 said:
Fiver for me. Emailed to ask what this is
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Reply from them already..,..

"it is listed in the fee schedule under ‘setting up trade possibilities’. This is a fee we charge to subscribe to different exchanges and we charge EUR 2.50 per year per exchange.


As you have made trades on two exchanges other than your home exchange you have been charged 5 EUR for the previous year"

So it's a fee to trade, based on number of exchanges you use.
 
Any update on how safe it is to use Degiro due to the fact they lend out securities to a 3rd party? With the amount of money they have in assets its hard to see them blow up and for everyone to lose their savings. But even tho they are regulated by the AFM and the Dutch Central Bank it seemed to me like neither of these were prepared to provide clarification on the previous page?

Reason I am asking is I just opened an account and I plan on investing into a portfolio of 5 etfs each month through them. If I had to use any other irish broker the transaction charges would not make it worth my while over choosing an Irish life fund or robo investor.
 
Not sure what "update" you are expecting exactly. Degiro isnt going to ring one of us and say "everything is guaranteed lads"!!

You can open two versions of Degiro account - one that allows security lending and one that doesn't. See list of fees on their site for the differences between the two. Pick the non-lending one obviously if you dont like the sounds of the lending.
 
Cian McCann said:
Any update on how safe it is to use Degiro due to the fact they lend out securities to a 3rd party? With the amount of money they have in assets its hard to see them blow up and for everyone to lose their savings. But even tho they are regulated by the AFM and the Dutch Central Bank it seemed to me like neither of these were prepared to provide clarification on the previous page?

Reason I am asking is I just opened an account and I plan on investing into a portfolio of 5 etfs each month through them. If I had to use any other irish broker the transaction charges would not make it worth my while over choosing an Irish life fund or robo investor.
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I've had no issues so far after being with them for about 6 months. I think the probability of any issues due to share lending is very small. If word gets out that investors are losing their shares, I bet DeGiro would lose a lot of customers very quickly. Therefore, if it sometimes does happen, it would make more sense for DeGiro to take a loss and replace your shares from their own pocket.
 
Cian McCann said:
Any update on how safe it is to use Degiro due to the fact they lend out securities to a 3rd party? With the amount of money they have in assets its hard to see them blow up and for everyone to lose their savings. But even tho they are regulated by the AFM and the Dutch Central Bank it seemed to me like neither of these were prepared to provide clarification on the previous page?

Reason I am asking is I just opened an account and I plan on investing into a portfolio of 5 etfs each month through them. If I had to use any other irish broker the transaction charges would not make it worth my while over choosing an Irish life fund or robo investor.
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Hi Cian,

Investing in 5 ETFS (I'm presuming UCITS) every month sounds like a Tax nightmare, 8yr deemed disposal, no loss right off etc..

Have you read the below post:
http://www.askaboutmoney.com/thread...or-irish-residents.199443/page-2#post-1456312

Might be worth a read.

Just flagging encase you weren't aware.

Cheers
 
sabre Man said:
I've had no issues so far after being with them for about 6 months. I think the probability of any issues due to share lending is very small. If word gets out that investors are losing their shares, I bet DeGiro would lose a lot of customers very quickly. Therefore, if it sometimes does happen, it would make more sense for DeGiro to take a loss and replace your shares from their own pocket.
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According to Amsterdam Trader the DeGiro pockets are quite empty. Tried unsuccessfully to sell a stake in the business earlier in the year
 
Sarenco said:
Who (or what) is Amsterdam Trader?
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According to the disclaimer:
This is a personal web site, with the posts reflecting the opinion of its author. The information on this site is provided for discussion purposes only, and are not investment recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.

So basically it's a blog.
 
sabre Man said:
According to the disclaimer:
This is a personal web site, with the posts reflecting the opinion of its author. The information on this site is provided for discussion purposes only, and are not investment recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.

So basically it's a blog.
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Whether it's a blog or not is irrelevant. What is relevant is that Degiro operates out of the Netherlands and the CBI have zero oversight on their business here as a result. Doing a little bit of local research on such companies would be recommended for anyone using them.
 
sabre Man said:
DeGiro reported €1,3 million profit in the first quarter:

So it says. Also says their balance sheet is running empty. It's quite possible this guy has some axe to grind with Degiro. Could all be complete bullshit. I for one found his series of articles on Degiro to be quite off putting:

- Degiro searching for HIQs millions
- Degiro introduces secret costs
- How Degiro screws clients
- Degiro ignores the elephant
- Degiro clients act as counterparty for own hedgefund
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Their website is very hard to use - does anyone else think this? As soon as you log in your are confronted with a space age dashboard.

How does one simply buy a few shares on it?
 
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