De Giro broker

[sabre Man]

I think the easiest way is to first search for a product and add it as a favorite. Then use the B and S buttons for buying and selling.

 

[JimmyBarryMurph]

Does anyone have any experience trading with the Rubicoin Invest app yet? These two options seem to be the cheapest thus far in terms of fees / charges. Although as far as I know you are still trading through a 3rd party broker via the rubicoin app.

 

[llgon]

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 have just read Rory Gillen's booklet - Start Thy Purse to Fattening: A Guide to Sound Investing, which is the subject of a separate thread. I found the booklet very helpful but it has raised a query for me in relation to this thread.

Page 56 deals with security of assets:
'The same regulations apply to all stockbrokers in regard to the security of client assets. For that reason, your assets are as secure with online brokers as they are with traditional brokers. The broker must hold your cash balances through traditional banks and shares and bonds bought on your behalf must be held by a third-party global custodian. These measures ensure, as far as they can, segregation of duties and that your assets remain safe in the event that the stockbroker itself gets into financial difficulty.'

What 'the same regulations' are is unclear to me having read the full booklet. Does this quote apply only to brokers registered with the Central Bank of Ireland? I wish to register with a broker and wonder why these standards do not seem to apply to DeGiro, this seems to be the most likely explanation.

 

[Markel]

I have just read Rory Gillen's booklet - Start Thy Purse to Fattening: A Guide to Sound Investing, which is the subject of a separate thread. I found the booklet very helpful but it has raised a query for me in relation to this thread.

Page 56 deals with security of assets:
'The same regulations apply to all stockbrokers in regard to the security of client assets. For that reason, your assets are as secure with online brokers as they are with traditional brokers. The broker must hold your cash balances through traditional banks and shares and bonds bought on your behalf must be held by a third-party global custodian. These measures ensure, as far as they can, segregation of duties and that your assets remain safe in the event that the stockbroker itself gets into financial difficulty.'

What 'the same regulations' are is unclear to me having read the full booklet. Does this quote apply only to brokers registered with the Central Bank of Ireland? I wish to register with a broker and wonder why these standards do not seem to apply to DeGiro, this seems to be the most likely explanation.

I imagine that's the case - DeGrio are not Irish but do have a very good and extremely competitive service. Their customer service should be able to tell you what segregation etc. they have. If you are investing a lot of money though for peace of mind there is no harm going with a local broker, the cost difference will be small as a %

 

[MrEarl]

It would be great if a Moderator could merge this thread with the other one: http://www.askaboutmoney.com/threads/degiro-anyone-know-anything-about-them.202289/

... If you are investing a lot of money though for peace of mind there is no harm going with a local broker, the cost difference will be small as a %

If someone is investing a lot of money and wants peace of mind, then they should diversify and not put all their eggs in one basket - use more than one broker is the right move, not to just assume that using a local broker will put all concerns at rest !