Key Takeaways
DEGIRO is one of Europe's largest low-cost brokers, serving more than 3.5 million client accounts and managing approximately €70 billion in client assets.
Although DEGIRO operates under the publicly listed flatexDEGIRO group and benefits from a German banking licence, it remains best viewed as a high-quality Tier 2 broker that comes close to Tier 1 status. Investors gain access to broad exchange coverage, multi-currency investing and a wider product range than most European neobrokers. DEGIRO also removed mandatory security lending, which was historically an issue.
However, DEGIRO's conservative interpretation of PRIIPs and local-language KID requirements can result in significantly lower ETF availability for certains non-core countries like the Czech Republic or Greece. Combined with the fact that the broker mainly targets smaller investors holding on average €30k, limitations around automation, tax wrappers and reporting and advanced investing features prevents DEGIRO from fully matching the capabilities of brokers such as Interactive Brokers or Saxo.
Check if DEGIRO is available in your country. Select a country to see local regulatory details.
Why DEGIRO is A Tier 2 Broker?
DEGIRO fits into our Tier 2 classification despite its long operating history since 2008 and ownership by listed banking group flatexDEGIRO. The broker occupies a middle ground between newer European neobrokers and full-service international brokers, combining a relatively established track record with a low-cost, execution-focused offering. However, its overall product breadth, international reach and service offering remain more limited than those of many Tier 1 providers.
Established, Transparent and Cost-Focused
DEGIRO is a top notch neobroker. It has several characteristics of an established broker. It benefits from the financial transparency of its listed parent company, and is consistently profitable. While not a bank itself, client cash is held through flatexDEGIRO Bank AG, a licensed German bank. The parent company is publicly listed but not rated by the major credit rating agencies. But, its main competitors are not Tier 1 brokers that cater to high-net-worth individuals, but rather low-cost brokers such as Trading 212, Trade Republic and Scalable Capital. The average investor balance is €30k.
Broad Exchange Access and Investor Control
DEGIRO stricly adheres to European PRIIPs legislation, meaning investors can only purchase ETFs for which the required KID documentation is available in the language of their account jurisdiction. As a result, ETF availability can vary between countries, and some products may not be accessible through certain local entities. Unlike most neobrokers, DEGIRO offers a multi-currency account. Cash balances are generally not remunerated. DEGIRO provides access to a broad range of traditional exchanges. The broker also offers an optional securities lending programme, with participating investors receiving 50% of the net lending revenue.
We rate DEGIRO 4.0 out of 5. Founded in the Netherlands in 2008, DEGIRO became part of the flatexDEGIRO Group following its acquisition by flatex in 2020. Today, the flatexDEGIRO group serves approximately 3.5 million customers across 16 European countries and manages more than €70 billion in client assets. The parent company is publicly listed on the Frankfurt Stock Exchange, consistently profitable and benefits from the transparency associated with quarterly reporting and extensive analyst coverage. DEGIRO's main operations remain centred in the Netherlands, while client cash is held through flatexDEGIRO Bank AG, a licensed German bank supervised by BaFin. Overall, these aspects are top notch for a neobroker.
DEGIRO, founded in the Netherlands in 2008, was acquired by flatex in 2020, creating the publicly listed flatexDEGIRO Group. The company is listed on the Frankfurt Stock Exchange and had a market capitalisation of approximately €3.4 billion as of 2026. Most shares are publicly traded, while founder Bernd Förtsch remains the largest individual shareholder with a stake of approximately 19%. Transparency is high, with detailed annual and quarterly reporting, extensive regulatory disclosures and broad coverage from European equity research analysts. The group is consistently profitable, reporting net income of approximately €160 million in 2025. While flatexDEGIRO also operates a licensed German bank, the group's core business remains brokerage and trading services, with a significant share of revenues generated from commissions, transaction-based income and interest-related activities.
flatexDEGIRO Bank maintains capital ratios comfortably above regulatory requirements and remains well capitalised by European banking standards. Following regulatory scrutiny in recent years regarding its lending and risk management practices, the group strengthened its governance, risk controls and capital position. While flatexDEGIRO Bank is not rated by the major credit rating agencies and is not considered a systemically important bank, its capital levels remain significantly above minimum regulatory requirements. As a result, we view the broker's financial position as decent, although the absence of an external credit rating makes it more difficult to independently assess default risk compared to larger rated banking groups.
EU Clients – DEGIRO operates under the Dutch and German regulatory framework, with DEGIRO B.V. supervised by the Dutch Authority for the Financial Markets (AFM) and client cash held through flatexDEGIRO Bank AG, a licensed German bank. Investors are covered by the Dutch Investor Compensation Scheme, which protects 90% of net losses up to €20,000 in the unlikely event that client assets cannot be returned.
Legacy UK Clients – Clients onboarded through the former UK entity remain covered by the Financial Services Compensation Scheme (FSCS) up to £85,000, subject to the applicable rules and eligibility requirements.
DEGIRO faced regulatory scrutiny in recent years following deficiencies identified in its IT infrastructure, governance and risk management framework. Following its acquisition by flatex and the creation of flatexDEGIRO Group, the company invested heavily in upgrading its systems, compliance procedures and internal controls. The group also faced regulatory measures from BaFin, including temporary increases in capital requirements and fines related to supervisory shortcomings. These issues have largely been addressed and the group remains well-capitalised and profitable.
We rate the fee structure a 4.0 out of 5. At first glance, DEGIRO appears to be one of the cheapest brokers in Europe, particularly for ETF investors using its Core Selection pricing, where eligible ETF transactions executed on Tradegate cost just €1 (€0 commission plus a €1 handling fee) - a Single Market Maker Exchange. Foreign exchange fees are 0.25%, and a fixed €10 surcharge when using Manual FX. In addition, DEGIRO charges relatively portfolio transfer fees (€20 per position plus external costs), which can make switching brokers expensive for larger portfolios.
Most of our readers have simple index portfolios. Using our Broker Total Cost Calculator, you can estimate the total cost of holding ETFs over your investment horizon. In our simulated scenarios, DEGIRO remains a very competitive option. We compare it against other Tier 1 and 2 brokers with strong financial records and broad international offerings. Specifically, we compare DEGIRO with Interactive Brokers and Scalable Capital, both of which are active in many of the same European markets. We assume investors purchase ETFs in the ETF share class currency (therefore no FX fees are included in the calculator below).
Fee Simulation
The simulation below assumes ETF purchases are executed on Xetra for all brokers shown. Exchange connectivity fees (€2.5 per exchange per year) are not included in the simulation.
We rate the platform capabilities a 4.0 out of 5. DEGIRO offers one of the broadest investment universes among European Tier 2 brokers, providing access to major exchanges across Europe and the United States, including Xetra, Euronext, London Stock Exchange, SIX Swiss Exchange, Nasdaq and NYSE. Unlike most European neobrokers, it supports multi-currency investing and several advanced features, including options and futures trading, securities lending, margin lending (subject to local entity rules), and Elective Professional Client status for eligible investors. From that persective it's borderline a Tier 1 broker, hence our score.
However, DEGIRO falls short in several areas that have become increasingly important for long-term passive investors, like recurring investment plans or automated ETF savings plans. Joint, family and junior account structures are also unavailable.
Most importantly, ETF availability may be more restricted than expected in certain countries due to DEGIRO's strict interpretation of PRIIPs and local-language KID requirements, which can limit access to some otherwise widely available ETFs. Check our dedicated guide to this below.
Opening a DEGIRO account is generally straightforward and can often be completed online within a few minutes. Investors must reside in an eligible country and provide a supported bank account in their own name. Identity verification is completed digitally through a document scan and selfie verification process. While many accounts are approved within one business day, verification may take longer for non-EU residents or applicants requiring additional compliance checks.
Not available features:
Users consistently praise DEGIRO for its low fees and reliability as a European broker, making it popular for cost-conscious investors. While the platform is generally well-regarded, some users report slow money transfer times and occasional complexity for beginners.
⚠️ This sentiment analysis is based on our proprietary algorithm relying on sentiment from public user reviews and discussions. This section does not represent the view of Banker on Wheels.
Explore our in-depth articles, guides, and tools related to this review.
