Hey folks - hope you founds this video helpful. For full transparency, Cian uses Degiro primarily, while I (Ste) use Interactive Brokers. We both have Revolut accounts, and then we share an eToro account! Any questions on the points discussed in the video? Hit us up below. Do we have a favourite broker? Honestly, it depends, but you get what you pay for. If you're serious about investing for the long-term, Interactive Brokers is probably your best bet. You have access to pretty much every stock & security you could want, and for $10 per month, it's no worse than Netflix.
Thank you. It's very useful. One question: if I want to do analysis with a good candlestick chart that gives information in real time, what is the best option?
@@piercoucy Hey, you're welcome! Hmm, the 'real time' part of your questions makes me think you'll need a more advanced broker if you want it right up to speed. Interactive Brokers have whats called their 'Trader workstation' desktop platform, and that's built for professional traders. It's very complex, but once you join the Interactive Broker platform, you can get access to it if you wish for no extra cost. That might be what you're looking for! Hope this helps - Ste
Agreed! Trading 212 are not currently accepting new customers at the moment - they're operating a waitlist, so we decided we'd exclude it from the video. Your right though, their pie feature is great 👌
Thanks for the wonderful video! I'm new to the stock market and to Ireland as well. This video gives clear insights into the different brokers available. I'm looking for a mentor to learn but I will really appreciate even if someone can provide guidance on where to start learning maybe some wonderful books, courses, and of course wonderful videos like these.
Really glad you enjoyed it and thank you for the positive feedback! Well first of all, we hope you continue to watch our videos as that why we do them - to help beginners like yourself get started :) We have a video on 'investing resources for beginners' so we would suggest checking that out for some ideas in terms of books & services you may be interested in (linked below). ua-cam.com/video/NL-smc545G0/v-deo.html - Ste
Hey Karl - cheers for that. Absolutely, will add it to the list! As a general rule of thumb though, for most beginner investors, unless you're trying to trade penny stocks or stocks with really low liquidity, you're usually best just to stick with a 'market order' which will fill your buy/sell at the current market rate (i.e. the current share price). This might fluctuate by a cent or two during the milliseconds that you're placing your order, but basically the price you see will be the price you get! The only caveat would be placing a market order when the markets are closed. In this scenario, you'll pay whatever price the share opens at on the next day of trading. So if, for example, this company announces some big news after hours (either positive or negative), this might cause some issues with your market order as the price might jump/drop sharply when markets open! Generally speaking, you're likely better off placing your orders when the market is actually open, and not after-hours or on weekends.
Great practical advice for Irish investors, guys. You've got my sub! If you buy shares (or fractions thereof) with eToro, do you own the shares? Other financial videos on here say you don''t own the underlying asset with eToro - I can understand that with CFDs but don't you own the shares?
Cheers Alastair, great to have you on board 💪 Unless you're buying CFDs on eToro, you will own the underlying asset (regardless of whether you buy a full share or a fractional shares). I've linked an eToro help page below for your own reference! www.etoro.com/customer-service/help/1281273772/what-do-i-purchase-when-i-buy-stocks-on-etoro/ Hope this puts your mind at ease! - Ste
You didn't mention anything about eToro forced stop-losses. I was thinking about using eToro but Degiro seems a better choice. Too bad we can't buy fractional shares
Hey Nigel - The fractional shares is a pain, agreed! I would be very surprised if it's something they don't introduce in the near future. They certainly are losing customers to competitors due to not offering it as a product. Thanks for the comment! - Ste
Thanks for the video guys, I'd like to know which one of these brokers I could trade IRES, CRH, Kingspan, hibernia, and another irish companies. thanks a million
Hey Fernando, you'll need to do some digging yourself on that one - but for Irish companies, I've found Degiro offers the best selection of Irish traded companies!
I'd like to add 2 more cons to Revolut: - a 0.12% custody fee on the value of your account, which is similar to what one would pay for an ETF, but Revolut is not doing anything for you - information about capital gains is not straightforward to find, one has to go through each monthly statement to find out buying and selling prices and calculate the capital gains. Now imagine several buys and sells at different prices...
Hey António, thank you for mentioning these - and we would agree! The February 2021 increase from 0.01% to 0.12% annually is certainly a sharp increase, and something we should have included in our video - thanks for flagging. Re: trading info, again we would agree with you. The process is certainly manual, but we would hazard a guess that Revolut will likely improve this feature to be more in-line with the standard that Robinhood as set over in the US. I think for most semi-serious investors, although Revolut is a good place to get started, most will end up graduating to a different platform with more functionality (unless Revolut improve their offering) - Ste
@@TheLearningsReport Yes, Revolut is pretty much a place to get started because lots of people are already using it for the virtual card functionality. But it must be stressed that the convenience is being paid for, and I'm of the opinion that the cost is unreasonable. Sure, we don't have many great alternatives in Europe, and for now I guess eToro is the only other option for fractional shares and mostly no fees.
@@TheLearningsReport I use Degiro as my main account at the moment. IB is a bit too steep on the fees for my portfolio size (maybe when I get to 100k to not pay the montly fee...). Trading212 still isn't accepting new signups, which is disappointing because I think the "pies" functionality is very interesting. Keeping an eye open to what's coming. Just saw that Stake is planning to expand to Europe, but one never knows how long that's going to take. Maybe Robinhood will expand into Europe after it goes public.
All fair points! All I'd say is, although IBKR do charge $10 per month, once you take away the charges you pay for your trades on Degiro, currency conversion fees, etc. you're probably not too far off the $10 you'd be paying on IBKR anyway 🤷♂️Also, in case you weren't aware, your trades/conversion fees are taken out of that $10 that you pay IBKR, so you don't get charged on top of the monthly fee unless you're trading quite a bit during the month. I'll need to look into Stake, hadn't heard of it! Cheers - Ste
etoro seems suspect to me. Questionable T&C’s and their marketing is dodgy I think too, a lot of popups my browser blocks are affiliates to etoro. Degiro VWCE & chill 🤙🏻
Any Ts&Cs in particular you're concerned by? Their marketing is definitely on the nose, and a bit of a pain, but to be honest a lot of these brokers are on a similar vibe. You might have seen that they recently announced their intention to go public (albeit via a SPAC) so we should have more oversight if/when that happens. techcrunch.com/2021/03/16/trading-platform-etoro-to-go-public-via-spac-merger-in-10b-deal Agreed though, Degiro is solid! Shame they still haven't added fractional shares. I use Interactive Brokers myself. Cheers for watching - Ste
Hi guys, I'm a newbie to investing and learning so much from your videos - thank you :D I have a Degiro account and just realised they don't sell fractional shares :/ It seems like IB are the best option to go with now that they have dropped their account fee.. Just wondering is it too complex for a starter? I'm put off Revolut and Etoro because of the whole no transferring of positions thing.
Hi Alison, Thanks a million for watching and glad you are enjoying the videos! Interactive Brokers is a really good choice without the fee. I (Cian) use Degiro currently and Ste primarily uses IB, however, I the main reason I went for Degiro was because IB had the account fee. One of the benefits of IB is that you can do a lot within the app. This might be overwhelming to start for a novice investor but as you grow with your knowledge it may be helpful to have all of this in one place. I'm not sure what level of investing knowledge you have but I think if you can learn the basics, you should be able to navigate through the app and learn with it. We have you covered too - have you seen our video on Interactive Brokers (linking below)? Ste runs through how to use the platform and the main areas to focus on which should make it less overwhelming! The demo account could also be a nice place to start without having to add funds to your account. Further information: - Interactive Brokers Video - ua-cam.com/video/jvMZXmw5lZU/v-deo.html Hope this helps and thanks again for watching! - Cian
Hi guys, thanks for the great reviews. How safe are investments held in these brokers? If investing €100k would you be comfortable putting it all in one broker or would you opt to split it between two. I am most interested in Degiro and IB.
Howiya Sean, great question. So it varies based on the broker. - Revolut: Revolut's clients are protected up to $500,000 (including up to $250,000 cash) under the Securities Investment Protection Corporation's (SIPC) insurance - Degiro: €20,000 in securities and, additionally, up to €100,000 of any uninvested cash in your DEGIRO Cash Account - eToro: Up to €20,000. But customers are also eligible for eToro's private insurance. This is a £/$/€ 1,000,000 insurance for cash, securities and CFDs. It is provided by Lloyd's and applies in the event of eToro's insolvency. - IBKR: Up to €20k but If you trade stocks, bonds, funds and US stock index options, you are protected by the US investor protection (the protection amount is $500,000 with a cash limit of $250,000). In short, I personally don't have any major concerns about insolvency for these brokers (I use IBKR almost exclusively for my own investments). But that's not to say it's a bad idea - it could be a very wise one! The hassle of course would just be trying to keep an overall read on your portfolio when its split between two brokers. More an inconvenience than anything (but I guess losing all your money would be an inconvenience also :) ) - Ste
Hey - So neither of us 'actively' trade, but of the brokers featured in the video, IBKR (and more specifically the Trader Work Station that IBKR offers) is more suited to an active trader. - Ste
My step-son passed away in October 2021; since then, we have been trying in vain, to close his account with DeGiro. The company is NOT helping us - we have provided them with all the information that we used to close my stepson's UK bank accounts, but now they won't even communicate with us. If they won't even communicate with us, what can we do ? We live in the UK; DeGiro do NOT have any representatives in the UK, so if they won't communicate, there's effectively nothing that we can do. Accordingly, those living in the UK, need to consider the wisdom of using a non-UK based company. For anyone, the unexpected death of a (young) family member is the cause of significant stress; MOST companies react with sympathy and concern and do their utmost to help - but NOT DeGiro. I have absolute proof for ALL that I’ve said.
Hey Andy, I'm sorry to hear about your loss, I hope you're doing OK. ❤️ This is not great from DeGiro. I imagine that you have tried to contact them via their contact email? There is also a number listed on the page below which may be with a try if you haven't already done so: www.degiro.co.uk/helpdesk/contact It may also be worth getting in contact with them on social media too, they may be more responsive in a public setting. Their Twitter seems to be fairly responsive: twitter.com/degiroeu?t=KBksNt9aPCHskC0QIE2ubQ&s=09 Hope this helps, Andy, take care of yourself. - Cian
@@TheLearningsReport I didn't provide any public information about this, but you did, so it's your moral obligation to provide proof and accurate information? However we enjoyed your videos
Hi guys, when you say for Degiro that you pay 10 Euro to transfer a position into Degiro, you are basically saying that if you have a 10000 Euro worth of per example, Facebook stock in some other brockarage, that is considered a position and you pay 10 Euro for that transfer only?
@@kenshirogokuloza864 No worries! And yep, not too bad a fee. Do note that if you decide to then transfer positions out of Degiro, the fee is again €10 per position but it looks like you'll also need to pay 'external fees' associated with a particular exchange. Link below for reference: www.degiro.ie/helpdesk/fees/other-costs/i-want-transfer-my-current-porfolio-degiro-or-may-want-transfer-my-portfolio-away#:~:text=DEGIRO%20charges%20a%20fee%20of,external%20cost%20is%2046.00%20EUR. - Ste
Heya Steve - The only reason we didn't include at the time was due to the issue with their waitlist! However, we since gained access and did a video on it. Linked below if you're interested 👍 ua-cam.com/video/JCAYd_-TVjQ/v-deo.html Definitely a good broker, I just don't use it as my main one. I (Ste) use IBKR and Cian primarily uses Degiro, but it's more personal preference than anything.
Hey Jacqueline Ann, yes! We have a video on eToro which you can check out below - any questions and you can comment there! ua-cam.com/video/d0VZvlGDeIk/v-deo.html - Cian
Hey when I was using degiro and purchasing shares, it would convert my euro to dollars automatically. But now with ibkr I have to convert first to usd then purchase shares with that money. Is this correct?
Hey Kilian - Yes that's correct, although IBKR make it relatively straightforward to do (as I'm sure you've noticed!). If you don't have the full amount of whatever currency when you go to make a purchase in, you're usually prompted to make a conversion. The conversion fee (which is pretty small already) is taken out of the $10 monthly fee you're already paying, so unless you're trading a ton - it's unlikely to have a major effect 👍 Cheers for the question. - Ste
People say eToro are taking longer than they say in withdrawals? how true is that? and having some difficulties for verifying the account? and whats the maximum amount you can withdraw at one time ??? thanks
Hey George, cheers for the comment. I haven't tried to withdraw from the account recently, so I can't offer any transparency there unfortunately. I would be surprised if that issue prolonged, as eToro would have MANY unhappy customers if withdrawal delays continued! For verifying your account, you'll need to provide some more info as it could be any number of issues! Likely answer is ask eToro though 👍 No maximum withdrawal limit on eToro.
Hey Travis - I actually haven't given Bux a try myself although I've seen a few other UA-camrs play around with it. I'd need to take a deeper dive into the offering but generally I'd just consider: - interface - # and range of securities offered - fees Let us know what you go with! - Ste
Hey Damien - in short, I don't really know tbh with you. It's not something we've ever looked into. Of the brokers we've used, Interactive Brokers is by far the most advanced and has a ton of functionality, so I'd suggest starting your research with them and see if they can offer you something! Sorry I can't be of more help to you. - Ste
In the case of insolvency (which is unlikely), brokers under regulation insure your funds up to: Revolut (DriveWealth) - up to $500,000 Degiro - €100k cash / €20k assets eToro - €20k (Europe) / £85k (UK) Interactive Brokers - Varies by country (€20k Ireland)
Again, it depends on the broker and what their terms & conditions are. Technically, yes, you could lose your funds - but there are scenarios where a broker that goes into insolvency can sell/transfer the holdings to a new broker. If you were really concerned, you could also hold your funds in different brokerage accounts to leverage the different types of cover they offer. In Europe, the majority offer up to €20,000, but dispersing your assets over 3 brokers for example, would allow you to have additional cover. Personally, I use Interactive Brokers who are a publicly traded company and won't be going anywhere anytime soon. If you plan/or already have a 6/7 figure portfolio, I'd suggest chatting to a financial advisor as opposed to this UA-cam thread 😂 Hope this helps. Ste
Thanks Aleksei! Yes our next tax video will be an ETF focused one 😊 Hopefully we can answer your questions then! What parts are confusing you so that we can make sure we cover?
Hey Aleksei - In case you didn't see, we just released our video on ETFs and it includes akl the important info on ETF taxes etc! Thanks again for your suggestion 👌
Hey Saleh - I'll be completely honest and say I had never ever heard of them before you commented. I had a very quick look at their website just now, but know absolutely nothing about them! Curious to hear where you came across them? Cheers - Ste
@@TheLearningsReport there is a tradenet youtube channel who run live trading chat room headed by Mier Barak he is based in germany they all use Colmaxpro
Hey Dan - IG is a CFD and spread betting broker right? Not really what we'd advocate for most investors (especially beginners). Do you use the platform yourself? - Ste
Do you not need to be making atleast €70k a year to set up with IB? Tried to set up an account with them, and they wanted you to have sizeable income. This was quite a while ago though
Hey JC, I don't think you need to make that amount to set up an account. They have certain restrictions on investors for more complicated trading or margin trading (where the investor may be a risk to pay back the money). But, to set up and trade regularly, you should be OK. - Cian
When signing up, they do ask if you have 20k+ plus liquidity (I believe this is a more recent question that wasn't asked when we initially set up our accounts). Either way, our viewers who have tried to sign up simply tick the box to say they do have 20k, and carry on as normal! There are a number of threads on reddit discussing this also, and all seem to report a similar experience (i.e. it's a 'tick the box' exercise) and there's no issues with it 🤷♂ - Ste
Hey Shane - Dividends are not taxed under 'Capital Gains', they're taxed as income, so you can't use your €1270 exemption to offset those taxes. You pay tax on dividends at your marginal income tax rate so either 20% or 40% depending on how much money you make in your day-to-day job. Check out our video on CGT in Ireland if you haven't already, this should clear up some confusion hopefully!
Do I need a permission to trade in Interactive Brokers? Every time I request to buy VUAA it says I need a trading permission. I've changed the settings here and requested a "trading permission" but why? Hopefully they will allow me. I've already deposit some money there
Hey Julio - hmm we haven't had that issue personally. Their support is relatively responsive so it might be worth dropping them a quick note to double check what the problem is? Do let us know what the outcome is so that we can update other viewers who might have the same problem down the road! Cheers for watching and thanks for the comment. - Ste
@@Gabbyigi I imagined I could send euro and buy the CSPX Ireland Domin. or the VUAA Ireland Domin. using euro. Now I just have euro my account, do they make the conversion? Or I have to change it myself and them send dolars to my Interact. Brokers account? If it's like that it will be too complicated . .
In the past, when I've gone to try and purchase a USD listed asset with my euro account balance, I've been auto prompted with a notification asking whether I was happy to convert my euro to USD to make the purchase. Note: this was for individual stocks and not for ETFs but I would've guessed the process would be similar if not the same?
Hi FifaKing, Thanks for watching! At the time of recording, T212 weren't accepting new customers so we weren't able to review but have since reviewed in the video below - check it out: ua-cam.com/video/JCAYd_-TVjQ/v-deo.html - Cian
*July 2021 Update:* Interactive Brokers no longer charges the $10/$20 account fee 🎉
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I just clicked into this video to listen the Irish accent. Thank you for sharing this, very clear and useful. Love your accent.
Haha thank you Lina!
Hey folks - hope you founds this video helpful. For full transparency, Cian uses Degiro primarily, while I (Ste) use Interactive Brokers. We both have Revolut accounts, and then we share an eToro account! Any questions on the points discussed in the video? Hit us up below.
Do we have a favourite broker? Honestly, it depends, but you get what you pay for. If you're serious about investing for the long-term, Interactive Brokers is probably your best bet. You have access to pretty much every stock & security you could want, and for $10 per month, it's no worse than Netflix.
Thank you. It's very useful. One question: if I want to do analysis with a good candlestick chart that gives information in real time, what is the best option?
@@piercoucy Hey, you're welcome! Hmm, the 'real time' part of your questions makes me think you'll need a more advanced broker if you want it right up to speed. Interactive Brokers have whats called their 'Trader workstation' desktop platform, and that's built for professional traders. It's very complex, but once you join the Interactive Broker platform, you can get access to it if you wish for no extra cost. That might be what you're looking for! Hope this helps - Ste
Traiding212 with pies is very funny and nice, I was expecting to found it here. Nice video again!
Agreed! Trading 212 are not currently accepting new customers at the moment - they're operating a waitlist, so we decided we'd exclude it from the video. Your right though, their pie feature is great 👌
Brilliant content lads thanks for sharing your knowledge and experience much appreciated.
Thanks for the wonderful video! I'm new to the stock market and to Ireland as well. This video gives clear insights into the different brokers available.
I'm looking for a mentor to learn but I will really appreciate even if someone can provide guidance on where to start learning maybe some wonderful books, courses, and of course wonderful videos like these.
Really glad you enjoyed it and thank you for the positive feedback!
Well first of all, we hope you continue to watch our videos as that why we do them - to help beginners like yourself get started :) We have a video on 'investing resources for beginners' so we would suggest checking that out for some ideas in terms of books & services you may be interested in (linked below).
ua-cam.com/video/NL-smc545G0/v-deo.html
- Ste
Great info for Irish investors 👌👍
Cheers Ste - Appreciate the feedback 🙏
Straight forward info- this is what I need.
Thanks Lukasz, glad it helped! What broker do you think you'll go with?
Great video lads! I find limits, market orders etc quite confusing - any plans to do a video on placing orders? Thanks!
Hey Karl - cheers for that. Absolutely, will add it to the list! As a general rule of thumb though, for most beginner investors, unless you're trying to trade penny stocks or stocks with really low liquidity, you're usually best just to stick with a 'market order' which will fill your buy/sell at the current market rate (i.e. the current share price). This might fluctuate by a cent or two during the milliseconds that you're placing your order, but basically the price you see will be the price you get!
The only caveat would be placing a market order when the markets are closed. In this scenario, you'll pay whatever price the share opens at on the next day of trading. So if, for example, this company announces some big news after hours (either positive or negative), this might cause some issues with your market order as the price might jump/drop sharply when markets open!
Generally speaking, you're likely better off placing your orders when the market is actually open, and not after-hours or on weekends.
I’m glad to have crossed your channel!
Cheers!
Great Analysis
Thanks a lot
Hi guys! I'm a non-eu ctizen living in Ireland, is there any broker available for me? Thanks :)
Great practical advice for Irish investors, guys. You've got my sub! If you buy shares (or fractions thereof) with eToro, do you own the shares? Other financial videos on here say you don''t own the underlying asset with eToro - I can understand that with CFDs but don't you own the shares?
Cheers Alastair, great to have you on board 💪
Unless you're buying CFDs on eToro, you will own the underlying asset (regardless of whether you buy a full share or a fractional shares). I've linked an eToro help page below for your own reference!
www.etoro.com/customer-service/help/1281273772/what-do-i-purchase-when-i-buy-stocks-on-etoro/
Hope this puts your mind at ease!
- Ste
You didn't mention anything about eToro forced stop-losses. I was thinking about using eToro but Degiro seems a better choice. Too bad we can't buy fractional shares
Hey Nigel - The fractional shares is a pain, agreed! I would be very surprised if it's something they don't introduce in the near future. They certainly are losing customers to competitors due to not offering it as a product.
Thanks for the comment!
- Ste
Interactive broker - No minimum fee , no monthly fee i suppose( 1st point is not valid after July 2021)
Yep we left an update about the fee in the description 👍🏻
Thanks for the video guys, I'd like to know which one of these brokers I could trade IRES, CRH, Kingspan, hibernia, and another irish companies. thanks a million
Hey Fernando, you'll need to do some digging yourself on that one - but for Irish companies, I've found Degiro offers the best selection of Irish traded companies!
I'd like to add 2 more cons to Revolut:
- a 0.12% custody fee on the value of your account, which is similar to what one would pay for an ETF, but Revolut is not doing anything for you
- information about capital gains is not straightforward to find, one has to go through each monthly statement to find out buying and selling prices and calculate the capital gains. Now imagine several buys and sells at different prices...
Hey António, thank you for mentioning these - and we would agree!
The February 2021 increase from 0.01% to 0.12% annually is certainly a sharp increase, and something we should have included in our video - thanks for flagging.
Re: trading info, again we would agree with you. The process is certainly manual, but we would hazard a guess that Revolut will likely improve this feature to be more in-line with the standard that Robinhood as set over in the US. I think for most semi-serious investors, although Revolut is a good place to get started, most will end up graduating to a different platform with more functionality (unless Revolut improve their offering)
- Ste
@@TheLearningsReport Yes, Revolut is pretty much a place to get started because lots of people are already using it for the virtual card functionality. But it must be stressed that the convenience is being paid for, and I'm of the opinion that the cost is unreasonable.
Sure, we don't have many great alternatives in Europe, and for now I guess eToro is the only other option for fractional shares and mostly no fees.
@@asrfarinha Have you looked at using Degiro, Trading 212 or Interactive Brokers?
@@TheLearningsReport I use Degiro as my main account at the moment.
IB is a bit too steep on the fees for my portfolio size (maybe when I get to 100k to not pay the montly fee...).
Trading212 still isn't accepting new signups, which is disappointing because I think the "pies" functionality is very interesting.
Keeping an eye open to what's coming. Just saw that Stake is planning to expand to Europe, but one never knows how long that's going to take. Maybe Robinhood will expand into Europe after it goes public.
All fair points! All I'd say is, although IBKR do charge $10 per month, once you take away the charges you pay for your trades on Degiro, currency conversion fees, etc. you're probably not too far off the $10 you'd be paying on IBKR anyway 🤷♂️Also, in case you weren't aware, your trades/conversion fees are taken out of that $10 that you pay IBKR, so you don't get charged on top of the monthly fee unless you're trading quite a bit during the month.
I'll need to look into Stake, hadn't heard of it!
Cheers - Ste
etoro seems suspect to me. Questionable T&C’s and their marketing is dodgy I think too, a lot of popups my browser blocks are affiliates to etoro. Degiro VWCE & chill 🤙🏻
Any Ts&Cs in particular you're concerned by? Their marketing is definitely on the nose, and a bit of a pain, but to be honest a lot of these brokers are on a similar vibe. You might have seen that they recently announced their intention to go public (albeit via a SPAC) so we should have more oversight if/when that happens.
techcrunch.com/2021/03/16/trading-platform-etoro-to-go-public-via-spac-merger-in-10b-deal
Agreed though, Degiro is solid! Shame they still haven't added fractional shares. I use Interactive Brokers myself.
Cheers for watching
- Ste
Hi guys, I'm a newbie to investing and learning so much from your videos - thank you :D I have a Degiro account and just realised they don't sell fractional shares :/ It seems like IB are the best option to go with now that they have dropped their account fee.. Just wondering is it too complex for a starter? I'm put off Revolut and Etoro because of the whole no transferring of positions thing.
Hi Alison,
Thanks a million for watching and glad you are enjoying the videos!
Interactive Brokers is a really good choice without the fee. I (Cian) use Degiro currently and Ste primarily uses IB, however, I the main reason I went for Degiro was because IB had the account fee.
One of the benefits of IB is that you can do a lot within the app. This might be overwhelming to start for a novice investor but as you grow with your knowledge it may be helpful to have all of this in one place. I'm not sure what level of investing knowledge you have but I think if you can learn the basics, you should be able to navigate through the app and learn with it.
We have you covered too - have you seen our video on Interactive Brokers (linking below)? Ste runs through how to use the platform and the main areas to focus on which should make it less overwhelming!
The demo account could also be a nice place to start without having to add funds to your account.
Further information:
- Interactive Brokers Video - ua-cam.com/video/jvMZXmw5lZU/v-deo.html
Hope this helps and thanks again for watching!
- Cian
Hi guys, thanks for the great reviews. How safe are investments held in these brokers? If investing €100k would you be comfortable putting it all in one broker or would you opt to split it between two. I am most interested in Degiro and IB.
Howiya Sean, great question. So it varies based on the broker.
- Revolut: Revolut's clients are protected up to $500,000 (including up to $250,000 cash) under the Securities Investment Protection Corporation's (SIPC) insurance
- Degiro: €20,000 in securities and, additionally, up to €100,000 of any uninvested cash in your DEGIRO Cash Account
- eToro: Up to €20,000. But customers are also eligible for eToro's private insurance. This is a £/$/€ 1,000,000 insurance for cash, securities and CFDs. It is provided by Lloyd's and applies in the event of eToro's insolvency.
- IBKR: Up to €20k but If you trade stocks, bonds, funds and US stock index options, you are protected by the US investor protection (the protection amount is $500,000 with a cash limit of $250,000).
In short, I personally don't have any major concerns about insolvency for these brokers (I use IBKR almost exclusively for my own investments). But that's not to say it's a bad idea - it could be a very wise one! The hassle of course would just be trying to keep an overall read on your portfolio when its split between two brokers. More an inconvenience than anything (but I guess losing all your money would be an inconvenience also :) )
- Ste
of course this was before the FED's minute...
So we cannot use Interactive Brokers if we only bank with Revolut as we cannot transfer funds into the trading account?
Hi guys which one is better for trading not investing? What tools and indicators are available with these brokers
Hey - So neither of us 'actively' trade, but of the brokers featured in the video, IBKR (and more specifically the Trader Work Station that IBKR offers) is more suited to an active trader.
- Ste
Brilliant!!
Thanks for watching, Santiago. 👏
Hi
Is it possible to use Euronext in ireland??
My step-son passed away in October 2021; since then, we have been trying in vain, to close his account with DeGiro. The company is NOT helping us - we have provided them with all the information that we used to close my stepson's UK bank accounts, but now they won't even communicate with us.
If they won't even communicate with us, what can we do ?
We live in the UK; DeGiro do NOT have any representatives in the UK, so if they won't communicate, there's effectively nothing that we can do. Accordingly, those living in the UK, need to consider the wisdom of using a non-UK based company.
For anyone, the unexpected death of a (young) family member is the cause of significant stress; MOST companies react with sympathy and concern and do their utmost to help - but NOT DeGiro.
I have absolute proof for ALL that I’ve said.
Hey Andy,
I'm sorry to hear about your loss, I hope you're doing OK. ❤️
This is not great from DeGiro. I imagine that you have tried to contact them via their contact email? There is also a number listed on the page below which may be with a try if you haven't already done so:
www.degiro.co.uk/helpdesk/contact
It may also be worth getting in contact with them on social media too, they may be more responsive in a public setting. Their Twitter seems to be fairly responsive:
twitter.com/degiroeu?t=KBksNt9aPCHskC0QIE2ubQ&s=09
Hope this helps, Andy, take care of yourself.
- Cian
What about trading 212
Yep we did a separate video on Trading212 as at the time, they weren't accepting new customers :) Trading212 is also a great option
Great smooth explanation, you didn't mention if Revol is real broker or CFD?
Cheers Ami! Revolut holds the underlying stocks in your name - it's not a CFD broker 👍
@@TheLearningsReport Allow me to challenge you... prove it!🥲
Ask them yourself.
@@TheLearningsReport I didn't provide any public information about this, but you did, so it's your moral obligation to provide proof and accurate information?
However we enjoyed your videos
Revolut is not a CFD broker. If you'd like to confirm that statement, please check with Revolut and they'll be more than happy to confirm.
Hi guys, when you say for Degiro that you pay 10 Euro to transfer a position into Degiro, you are basically saying that if you have a 10000 Euro worth of per example, Facebook stock in some other brockarage, that is considered a position and you pay 10 Euro for that transfer only?
Hey Darijo - Yep that's it exactly. The 'number' of shares is redundant, you pay the fee per holding i.e. per company that you transfer in
- Ste
@@TheLearningsReport that is actually reasonable. Thanks Ste. Appreciate your help
@@kenshirogokuloza864 No worries! And yep, not too bad a fee. Do note that if you decide to then transfer positions out of Degiro, the fee is again €10 per position but it looks like you'll also need to pay 'external fees' associated with a particular exchange. Link below for reference:
www.degiro.ie/helpdesk/fees/other-costs/i-want-transfer-my-current-porfolio-degiro-or-may-want-transfer-my-portfolio-away#:~:text=DEGIRO%20charges%20a%20fee%20of,external%20cost%20is%2046.00%20EUR.
- Ste
Guys, how about trading212. ?
Heya Steve - The only reason we didn't include at the time was due to the issue with their waitlist! However, we since gained access and did a video on it. Linked below if you're interested 👍
ua-cam.com/video/JCAYd_-TVjQ/v-deo.html
Definitely a good broker, I just don't use it as my main one. I (Ste) use IBKR and Cian primarily uses Degiro, but it's more personal preference than anything.
Hey friends, Where can I get training on using eToro from Ireland as a newbie?
Hey Jacqueline Ann, yes! We have a video on eToro which you can check out below - any questions and you can comment there!
ua-cam.com/video/d0VZvlGDeIk/v-deo.html
- Cian
Hey when I was using degiro and purchasing shares, it would convert my euro to dollars automatically. But now with ibkr I have to convert first to usd then purchase shares with that money. Is this correct?
Hey Kilian - Yes that's correct, although IBKR make it relatively straightforward to do (as I'm sure you've noticed!). If you don't have the full amount of whatever currency when you go to make a purchase in, you're usually prompted to make a conversion.
The conversion fee (which is pretty small already) is taken out of the $10 monthly fee you're already paying, so unless you're trading a ton - it's unlikely to have a major effect 👍
Cheers for the question.
- Ste
People say eToro are taking longer than they say in withdrawals? how true is that? and having some difficulties for verifying the account? and whats the maximum amount you can withdraw at one time ??? thanks
Hey George, cheers for the comment. I haven't tried to withdraw from the account recently, so I can't offer any transparency there unfortunately. I would be surprised if that issue prolonged, as eToro would have MANY unhappy customers if withdrawal delays continued!
For verifying your account, you'll need to provide some more info as it could be any number of issues! Likely answer is ask eToro though 👍
No maximum withdrawal limit on eToro.
@@TheLearningsReport thanks. appreciated !!!
Trying to decide between Degiro and Bux 0, any thoughts?
Hey Travis - I actually haven't given Bux a try myself although I've seen a few other UA-camrs play around with it. I'd need to take a deeper dive into the offering but generally I'd just consider:
- interface
- # and range of securities offered
- fees
Let us know what you go with!
- Ste
Hello. I am looking to trade stock through my Limited company. can you recommend an App/Broker for this? Thanks
Hey Damien - in short, I don't really know tbh with you. It's not something we've ever looked into. Of the brokers we've used, Interactive Brokers is by far the most advanced and has a ton of functionality, so I'd suggest starting your research with them and see if they can offer you something!
Sorry I can't be of more help to you.
- Ste
Can he go through what happens when these certain companies go busy or close? What happens our investments then?
In the case of insolvency (which is unlikely), brokers under regulation insure your funds up to:
Revolut (DriveWealth) - up to $500,000
Degiro - €100k cash / €20k assets
eToro - €20k (Europe) / £85k (UK)
Interactive Brokers - Varies by country (€20k Ireland)
Thanks for the comment by the way, Chris - fire away if you have any more questions!
@@TheLearningsReport what happens if I’ve a portfolios of 6/7 figures and then there’s a case of insolvency????
Again, it depends on the broker and what their terms & conditions are. Technically, yes, you could lose your funds - but there are scenarios where a broker that goes into insolvency can sell/transfer the holdings to a new broker.
If you were really concerned, you could also hold your funds in different brokerage accounts to leverage the different types of cover they offer. In Europe, the majority offer up to €20,000, but dispersing your assets over 3 brokers for example, would allow you to have additional cover.
Personally, I use Interactive Brokers who are a publicly traded company and won't be going anywhere anytime soon. If you plan/or already have a 6/7 figure portfolio, I'd suggest chatting to a financial advisor as opposed to this UA-cam thread 😂 Hope this helps. Ste
This blog post should also be helpful to you: indexfundinvestor.eu/2019/07/25/what-happens-if-my-broker-goes-bust/
Can you please do more videos on irish taxes. Taxes on ETFs vs CGT; (not) chargeable person etc...
Thank you for your videos!
Thanks Aleksei! Yes our next tax video will be an ETF focused one 😊 Hopefully we can answer your questions then! What parts are confusing you so that we can make sure we cover?
Hey Aleksei - In case you didn't see, we just released our video on ETFs and it includes akl the important info on ETF taxes etc! Thanks again for your suggestion 👌
Nice video.. what is your opinion about Colmex pro ? Thx for the video sharing
Hey Saleh - I'll be completely honest and say I had never ever heard of them before you commented. I had a very quick look at their website just now, but know absolutely nothing about them! Curious to hear where you came across them? Cheers - Ste
@@TheLearningsReport there is a tradenet youtube channel who run live trading chat room headed by Mier Barak he is based in germany they all use Colmaxpro
ua-cam.com/video/CzPu6APv6EQ/v-deo.html
Thats link to todays feed.. they are good
This guy made 1.2 million live on a GME trade he has that video uploaded also
Any good brokers that offer option investing?
Interactive Brokers do! Might be worth checking out - I use the platform myself.
- Ste
Does Degiro have automatic investing? Daily investments??
To the best of our knowledge, Degiro only has manual order capabilities. Out of interest, why would you be looking to do daily investments?
why not review IG trading ??
Hey Dan - IG is a CFD and spread betting broker right? Not really what we'd advocate for most investors (especially beginners). Do you use the platform yourself?
- Ste
Do you not need to be making atleast €70k a year to set up with IB? Tried to set up an account with them, and they wanted you to have sizeable income. This was quite a while ago though
Hey JC,
I don't think you need to make that amount to set up an account. They have certain restrictions on investors for more complicated trading or margin trading (where the investor may be a risk to pay back the money). But, to set up and trade regularly, you should be OK.
- Cian
When signing up, they do ask if you have 20k+ plus liquidity (I believe this is a more recent question that wasn't asked when we initially set up our accounts). Either way, our viewers who have tried to sign up simply tick the box to say they do have 20k, and carry on as normal!
There are a number of threads on reddit discussing this also, and all seem to report a similar experience (i.e. it's a 'tick the box' exercise) and there's no issues with it 🤷♂
- Ste
Another con of Revolut is that there are no ETFs
Agreed!
Do you have to pay taxes on dividend returns yearly while your holding the stocks if the returns are under 1270?
Hey Shane - Dividends are not taxed under 'Capital Gains', they're taxed as income, so you can't use your €1270 exemption to offset those taxes. You pay tax on dividends at your marginal income tax rate so either 20% or 40% depending on how much money you make in your day-to-day job.
Check out our video on CGT in Ireland if you haven't already, this should clear up some confusion hopefully!
@@TheLearningsReport thanks for the reply
No worries
Do I need a permission to trade in Interactive Brokers? Every time I request to buy VUAA it says I need a trading permission. I've changed the settings here and requested a "trading permission" but why? Hopefully they will allow me. I've already deposit some money there
Make sure you convert your money to USD or the currency the ETF is trading before buying.
Hey Julio - hmm we haven't had that issue personally. Their support is relatively responsive so it might be worth dropping them a quick note to double check what the problem is? Do let us know what the outcome is so that we can update other viewers who might have the same problem down the road!
Cheers for watching and thanks for the comment.
- Ste
@@Gabbyigi I imagined I could send euro and buy the CSPX Ireland Domin. or the VUAA Ireland Domin. using euro. Now I just have euro my account, do they make the conversion? Or I have to change it myself and them send dolars to my Interact. Brokers account?
If it's like that it will be too complicated . .
@@TheLearningsReport I'll do it and let you know. Thank you guys for all
In the past, when I've gone to try and purchase a USD listed asset with my euro account balance, I've been auto prompted with a notification asking whether I was happy to convert my euro to USD to make the purchase. Note: this was for individual stocks and not for ETFs but I would've guessed the process would be similar if not the same?
lol coinbase
What about trading 212
Hi FifaKing,
Thanks for watching!
At the time of recording, T212 weren't accepting new customers so we weren't able to review but have since reviewed in the video below - check it out:
ua-cam.com/video/JCAYd_-TVjQ/v-deo.html
- Cian