👉 Open a Degiro Account: bit.ly/Degiro-Account *UPDATES* : Nov 2021 - Degiro now offers 'commission free' trades on major exchanges (but still charges a flat 0.50c 'handling' fee per trade) Aug 2021 - Extended Trading Hours now available on Degiro (7am-9pm)
I have a problem too.. I don’t have a passport and I’m Greek so when I want to upload my identity front and back is coming after a few seconds one red shield that says we have a failure please try again later. I’m trying to open an account five days now 😜
Beautiful country! If it's not working, it might be worth contacting Degiro and asking whether the form of ID you're trying to use is officially accepted (or double check their list of accepted forms of ID). It might be the case that once you chat to a member of their team, they'll be able to manually push through your application. Hope you get it figured out! - Ste
Hi Monica, have you contacted customer support? I just did a quick check there through blogs (nothing on their website) and, unfortunately, it seems like you can't change the language if you have an account set up in the Netherlands. One response from their Twitter seems to suggest that if you want English, you have to set up an Irish account. Another forum said that they are looking to change this soon and bring in multiple languages for countries. Maybe you can try logging in to degiro.ie ? This seems to be a massive oversight, I can't understand that! Sorry that you're struggling and hope you can get it resolved soon. - Cian
@@TheLearningsReport Same problem for me. As an international in The Netherlands I had to set up an account in Dutc - a major inconvenience. I will contact customer support, but do you have any update on that?
@@tw7036 Nope, thanks. Based on DEGIRO advice I opened an Irish account at that time, however, they do offer a English Dutch version now, if i'm correct.
When I sign up and send the initial fee to verify my account on degiro I get an email to asking me to send a bank statement so that they can verify the account has this happened to anyone else?
Hi Ross - Can't recall if I needed to do the same personally, but it's likely just to verify your address and location. If you're in doubt about the legitimacy of the request, you could always drop Degiro a message to double check - but I'd imagine you shouldn't have anything to worry about. It's likely just part of the KYC process (know your customer)
Could you lads do a video on how to actually understand DEGIRO 2 reports that are available in our accounts by the end of the year and then how to declare it to the Irish revenue and pay CGT if due? Many thanks
@@TheLearningsReport thank you, can't wait for this video as the 2 reports DEGIRO generate by year end are very confusing, so learning how to actually read the gains, losses, dividends etc and then how to proceed on filling it all with the Irish revenue would be much appreciated. Another doubt is what should we do if we miss a deadline to file our shares gains, losses and dividends?
Hey Stephen, Yes, the Toronto exchange is available on Degiro (www.degiro.ie/products-and-markets). I haven't seen any way to check stocks before seeing up an account. It is free to set up an account so maybe no harm doing that and checking that way. - Cian
Hey Isaac, In general, the US tax treaties provide for a reduced withholding tax rate of 15% on dividend income for Irish investors (as we have a dual taxation agreement with the US). According to Degiro's website - you can request DEGIRO to apply the lower tax treaty rate on dividend and interest income from the United States. As dividends are taxed as 'income' in Ireland, you're still liable for the marginal rate of either 20% or 40% based on your annual income. So in this scenario, you'll either owe a balance of 5% or 25% (once you factor in the 15% that will be withheld at source). Hope this helps! - Ste
Hey Paul, Thanks for watching! It would really depend on what kind of investing you're doing. With Degiro, you are able to invest in more complex assets e.g. ETFs. With T212 you can invest in fractional shares. Interactive Brokers has also become a great option since they removed their account fee. We have more videos on a few brokers including a comparison video (excluding Trading 212 although it is similar to eToro) which you can check out below: Investing Apps & Brokers 📱: ua-cam.com/play/PLvKfba1wmPk8hpN73dNAz7ncPsSsPxyl_.html - Cian
I have a question about the registration part.. If you skip to 1:40 you can see the part to enter your IBAN details. As for today's reality they ask for a Sort Code and account number. I have a IBAN account, can I still register?
Hey - yep it should still work (we have IBAN accounts also). The IBAN should work for account number, and then you should also have a sort code tied to your bank? I'd suggest looking at a recent bank statement to find it. Which country are you trying to register from? - Ste
Hey Rob - It doesn't seem like Degiro have given a clear answer on this, and we haven't enquired directly ourselves. I've read a few forum threads that seem to include people who say they spoke with Degiro and were told it wasn't possible - but for every 2 people who said it wasn't possible, there was one who said it was! 😅I'd say you're going to have to contact Degiro directly and see what they say (if you haven't already - I understand the wait time can be a pain)
Thanks for the video. Im going through registration and was trying to link bank account. The Iban is not being recognised. Im putting payment through as international payment. I will go into branch next week as person in Internet banking said branch can put through international payment. Do you have any information on this.
Hi Francis - is the country you're registering from eligible to open an account with Degiro? If the issue is the IBAN, then perhaps you're using a bank that isn't supported by Degiro.Let us know! - Ste
Hi Loving the channel by the way, as there are no fractional shares on degiro, does this count for ETFs too? For example a share of S&P 500 might be 100 and I plan to invest 80 per month, is this possible or do you need to buy a minimum of 1 share which may rise over time I assume so every month your minimum investment could potentially have to be more?
Cheers Mike! At time of writing, yep, same for ETFs unfortunately. You'd need the full amount to purchase 1 share of the ETF you're interested in. I'm baffled that Degiro still haven't introduced fractional shares (assume it's regulatory, but still). I would like to think they'll get their act together soon! - Ste
@@TheLearningsReport Good evening, the time to open a trading account has finally arrived, and De Giro is my first option. Do you know if it's still possible to open the account if you're resident in UK?
@@TheLearningsReport Thank you! One last question. If I open a basic account and allow DeGiro to lend my shares, what happens in the moment that I need to sell them? Do I have to wait for my shares to be returned by whoever they were lent to?
For the past month I've been trying to transfer an initial deposit to verify my bank account but they continue to just send it back, I'm am useing Bank of Ireland. I think I might have their wrong BIC and IBAN but I'm not sure. Any idea what the problem is ?
Hey Lorcan. Hmm, strange. Hard for us to give any solid advice without knowing all the details but yeah definitely triple check all the details are correct first and foremost! Assuming you've already tried to contact their support? They're a little slow, but usually get back to you eventually. Also, check out this page as it might be of some use (if you haven't already had a look) www.degiro.ie/helpcenter/faq/money-transfer/1119#2075/how-do-i-transfer-funds-to-degiro Let us know if you figure it out - you might not be the only one having the issue!
@@TheLearningsReport thanks for the reply. Is there anywhere I can find the right IBAN and BIC? I'm finding multiple variations out there. It also says they only accept GBP but as I add them as a new PAYEE adding that there bank is located in the Netherlands BOI only allows me to send euro. I have tried a few times to contact them via email but still nothing has come of it. Sorry for all the questions
@@lorcand630 Hey Lorcan - no worries at all, we're happy to answer your questions and help if we can. :) In terms of the IBAN and BIC location, it should be in the Deposit/Withdraw section of the app. So, when you hit the three lines in the top left, it is the blue section under your profile name (see 3:50 for reference). Go to deposit, hit manual transfer to DEGIRO and the IBAN details should be there. Actually, I believe Degiro may have changed some bank account details recently so perhaps this is why some of your funds have bounced back. The GBP part is strange - perhaps there is some cross-wires with the UK app and the app is confused. For my transfer, it is in Euros. As a last resort, I would recommend re-linking your bank account. I have heard of some folks having to go through this process for BOI and other banks. You may have to set up Degiro as a payee again - I know this may be a bit of a hassle but hopefully it should resolve the deposit issue and get you started on Degiro!
Hi Paraic, I (Cian) would have a similar strategy to you and I reckon the Basic account would be better for you. Firstly, Basic Account offers you more flexibility in the future with account upgrades and flexibility if you want the choice in the future. Secondly, it will be cheaper. If you have dividend-paying funds/ETFs, the custody account has a high processing fee for dividends: € 1.00 + 3.00% of the dividend amount whereas the Basic doesn't. More information on the account differences can be found here: www.degiro.co.uk/helpcenter/faq/profiles/ Let us know what index fund you invest in! -Cian
@@TheLearningsReport Thanks Cian. The main advantage of going with the Basic account is lower fees and dividends benefits. I suppose with the Basic account we are taking a higher risk by granting Degiro permission to loan out our holdings which makes me wonder is it the safer bet going with the Custody account even tho there are higher costs but at least you have a high level of security? Personally, I am more attracted to the Basic account for the cost-saving benefits but I'm just not 100% sure I understand the level of risk. worst-case scenario 30 years down the line I want to withdraw my money and there's an issue due to my holdings been loaned out, so if I had my money held in a Custody account I will be avoiding this predicament? Do you think the Benefits of the Basic account outweigh the risk?
@@paraicodonoghue6421 All valid points, Paraic! We need to be a little careful in terms of offering too much advice/guidance on these matters (Not financial advisors, etc etc.). Everyone's situation is different, but it sounds to us like you're doing your due diligence on both options (which is the main thing). Keep in mind, banks also use your money to make loans to other people - just some food for thought! Thanks - Ste
Hey Siddharth - cheers for the question. In short, the answer is yes & no. It depends which markets you're interested in! Link below should help you decide brokerchooser.com/broker-reviews/degiro-review/trade-options-at-degiro
I am looking to set up a Degiro account. I'm Irish, living in Switzerland. I only have a Swiss driving licence and my permit ID for verification. I don't think they will accept either of them 🤔 Is there any other way to get verified if they don't accept these two forms of ID?
Hey James - out of interest, have you tried with your Swiss ID yet? I had a quick look there, and it seems Swiss accounts are eligible. Again, I can't say if your ID will work, but I would be surprised if your permit and license don't do the trick. I guess it's worth a shot anyway, nothing to lose really! I wouldn't know of a workaround if not, but you could always pop Degiro a message and explain that you're Irish in Switzerland. They might be able to get you set up using your Irish ID instead. Let us know how things go. - Ste
Hey Sean - 'better' is somewhat subjective, they're both pretty similar with similar offerings. Try both and see which you prefer 🤷♂️ Trading 212 isn't currently accepting new customers though, in case you weren't already aware. Waitlist only! - Ste
@@tedthepom5129 Afraid not - the waiting list has been active all year now, and they don't seem to have been very communicative with dates! Best thing is to get your name on the waitlsit if you haven't already, and just sit tight. However, for fractional shares - there are a couple of other brokers you can look at: Revolut, eToro and Interactive Brokers all offer fractional share trading and might be worth looking at!
Thanks Anjo! Yes the selfie is to cross-verify that your ID and your face are a match. That being said, we didn't look into the details exactly, but at a user level - we haven't had any safety issues as a result. Hope this helps!
Hey Kouks - couple of things you might want to double check. Is your uploaded image/pdf of your passport clear and visible? Are you trying to upload your ID via the app or desktop? (try both) Is your nationality/passport accepted? (I'm sure it is is, but you never know). If you're still having trouble, perhaps try a different piece of ID (if you have one) If none of the above has worked for you, we'd also suggest trying to get in touch with their support. They're quite slow, so it might be worth contacting them first to get the ball rolling, and then continue to try upload your documents while you wait using our suggestion above! Let us know how you get on.
@@TheLearningsReport hello ! I have the same problem with my pass loading . I don't know maybe it is because I am a Russian citizen and I have Russian pass , but I live in Greece , more than two years and I working here , paying tax , and I have residence permit, all papers , everything . So I tried to both I tried to download both documents, but it doesn't accept either Russian or Greek. What kind of problem it can be ? Thank you for your time !
I'm from Finland. I try to login in with app but no luck so far. I also try desktop but i only get messages to login using the app. I emailed customer support but no answer there yet.
@@andreyditrikh6172 Hi Andrey - I believe they don't have many nationality limitations (I only see issues for US citizens on the website), just bank account location limitations. I see from their website that currently they do not support Russian bank accounts but do support Greek accounts (which I presume is what you are doing?). The two other potential issues other than the ones outlined above could be 1) is the file type supported? Maybe try with a PDF/JPEG/PNG (whatever you didn't try already) or 2) is the alphabet supported? I wonder if the system is having a problem with the Greek and Russian alphabet and can only scan the Roman alphabet? In any case, I would recommend reaching out to the customer support team as your case seems quite unique. It might take a while but I did get a response.
@@kouks565 Hi Kouks, that's annoying. The customer support has been slow recently but they do get back to you. Perhaps try upload with different file types in the mean time (e.g. PDF vs. JPEG vs. PNG). We hope either this works or they can solve it for you.
I have a question if you can halp.. I set up my account fine I'm with AIB, (I used a card reader) but my bro is setting up his own account on bank of Ireland so I'm assuming the transfer system is a little different ..the problem is that when he logs into degiro he's stuck on the "SEND 0.01¢ and connect your account" screen which I vaguely remember myself when signing up....so he did 'TRY' to send money today and they apparently don't use card readers. (News to me) but he cannot move past that screen...The money has also 100% been taken from his bank account. Is that a thing that he's stuck at that point until the money goes through? I can vaguely remember something like that myself when setting up my own account so I was hoping you'd have some insights on it. Anyhow, Thanks for your halp 👍
Hi Corey, I used KBC which doesn't require a card reader so I imagine it is similar to BOI. I believe it does take a while for Degiro to 1) receive the funds and 2) link to the bank account details you provide. As we mentioned in the video, Degiro is quite slow at verifying accounts at the moment. When did your brother send the money? If it's
@@TheLearningsReport Cheers buddy. He only sent it today so I expect it to take a while but I just hope he gets it at some point. And the fact that he can't leave the "connect account" screen on the degiro app was a little confusing, but he did email them so hopefully he gets it sorted, and thanks very much for the info and kinds words, I wish you all the best in the future with your channel also. Again, much appreciated, subbed 👍
@@coreygodofall1 ah, yes, I remember I was stuck on that screen too. Should be fine once the account is verified. 👍 Brilliant, thanks for subscribing! Any questions, let us know.
@@coreygodofall1 Definitely crazy to follow, and very interesting, but absolute speculation (from 95% of people) and although there are of course valid arguments about these companies recovering long-term, I (Ste) personally have no interest in owning Game Stop stock, or AMC stock. For most (and similar to what you see with Doge Coin or any other of the 'hot' crypto coins), the price rockets because everyone is buying. The new people who buy the security/coin (or whatever the next hot thing is) are paying for the gains of the people who got in just before them. This is great until it stops! And someone (likely some poor TikToker who just watched a 100x to the moon video) gets left holding the bag of sh*t. So in summary, these meme stocks are fun to play with, as long as you're aware that for most, its people buying it because they think more people are going to buy it. And that, my friend, is the definition of speculation
👉 Open a Degiro Account: bit.ly/Degiro-Account
*UPDATES* :
Nov 2021 - Degiro now offers 'commission free' trades on major exchanges (but still charges a flat 0.50c 'handling' fee per trade)
Aug 2021 - Extended Trading Hours now available on Degiro (7am-9pm)
Great video once again ! Loved every second of it!
You pushed me to start my UA-cam journey so thanks for the inspiration !
Hey Ben, delighted to hear that! Wishing you the best on the journey! 😎
4 weeks it took to get my account validated, must be popular
Great to know - thanks, John. Best of luck with the new account. 👍
I have a problem too.. I don’t have a passport and I’m Greek so when I want to upload my identity front and back is coming after a few seconds one red shield that says we have a failure please try again later. I’m trying to open an account five days now 😜
Beautiful country! If it's not working, it might be worth contacting Degiro and asking whether the form of ID you're trying to use is officially accepted (or double check their list of accepted forms of ID). It might be the case that once you chat to a member of their team, they'll be able to manually push through your application.
Hope you get it figured out!
- Ste
Good video, I wander why they won't allow revolut
Cheers John! Perhaps something they'll update soon 🤷♂
Hi how did you manage to have voor English language in this app I am struggling with the Dutch language please help 🙏🙏🙏🙏
Hi Monica, have you contacted customer support? I just did a quick check there through blogs (nothing on their website) and, unfortunately, it seems like you can't change the language if you have an account set up in the Netherlands.
One response from their Twitter seems to suggest that if you want English, you have to set up an Irish account. Another forum said that they are looking to change this soon and bring in multiple languages for countries. Maybe you can try logging in to degiro.ie ?
This seems to be a massive oversight, I can't understand that! Sorry that you're struggling and hope you can get it resolved soon. - Cian
@@TheLearningsReport Same problem for me. As an international in The Netherlands I had to set up an account in Dutc - a major inconvenience. I will contact customer support, but do you have any update on that?
@@tw7036 Nope, thanks. Based on DEGIRO advice I opened an Irish account at that time, however, they do offer a English Dutch version now, if i'm correct.
My registration was so different 🥺 I had to transfer money, and it don't work. I have to wait until it arrives 😒
Hey David - when we lodge money it sometimes takes a day or two to arrive. If not, it's worth checking you entered all the correct bank details etc.!
When I sign up and send the initial fee to verify my account on degiro I get an email to asking me to send a bank statement so that they can verify the account has this happened to anyone else?
Hi Ross - Can't recall if I needed to do the same personally, but it's likely just to verify your address and location. If you're in doubt about the legitimacy of the request, you could always drop Degiro a message to double check - but I'd imagine you shouldn't have anything to worry about. It's likely just part of the KYC process (know your customer)
Could you lads do a video on how to actually understand DEGIRO 2 reports that are available in our accounts by the end of the year and then how to declare it to the Irish revenue and pay CGT if due?
Many thanks
Sounds good!
@@TheLearningsReport thank you, can't wait for this video as the 2 reports DEGIRO generate by year end are very confusing, so learning how to actually read the gains, losses, dividends etc and then how to proceed on filling it all with the Irish revenue would be much appreciated.
Another doubt is what should we do if we miss a deadline to file our shares gains, losses and dividends?
You'll need to file a late payment with revenue and pay any interest due on late payment!
Dedjiro account. So funny to hear as a dutch guy.
Haha! Unfortunately the app doesn't include a tutorial on how to pronounce the name. ;) My bad!
How do you pronounce it? 🤔
@@TheLearningsReport Im dutch too, in the netherlands we have the G as a hard G, so its like: DuGieroo
Good to know - we’ll need to spread the word over here in Ireland, nobody is saying it correctly 😂 Thanks for the clarification.
@@simpleasthat Til!
Do you have access to the Toronto Stock exchange and is their a way to check what stocks you can trade on that market before creating an account?
Hey Stephen,
Yes, the Toronto exchange is available on Degiro (www.degiro.ie/products-and-markets).
I haven't seen any way to check stocks before seeing up an account. It is free to set up an account so maybe no harm doing that and checking that way.
- Cian
Any info on the reduced withholding tax and is it worth applying for? An option came up after completing the quiz but I’ve no idea what it is!
Hey Isaac,
In general, the US tax treaties provide for a reduced withholding tax rate of 15% on dividend income for Irish investors (as we have a dual taxation agreement with the US). According to Degiro's website - you can request DEGIRO to apply the lower tax treaty rate on dividend and interest income from the United States. As dividends are taxed as 'income' in Ireland, you're still liable for the marginal rate of either 20% or 40% based on your annual income.
So in this scenario, you'll either owe a balance of 5% or 25% (once you factor in the 15% that will be withheld at source).
Hope this helps!
- Ste
Great video, thank you!!
🙏 and thank you for the feedback! Glad it helped.
Hi guys, Im torn between setting up a Degiro and Trading 212 account. Which would you recommend out of the two?
Hey Paul,
Thanks for watching!
It would really depend on what kind of investing you're doing. With Degiro, you are able to invest in more complex assets e.g. ETFs. With T212 you can invest in fractional shares. Interactive Brokers has also become a great option since they removed their account fee.
We have more videos on a few brokers including a comparison video (excluding Trading 212 although it is similar to eToro) which you can check out below:
Investing Apps & Brokers 📱: ua-cam.com/play/PLvKfba1wmPk8hpN73dNAz7ncPsSsPxyl_.html
- Cian
@@TheLearningsReport Thanks Cian, I'll look into it a bit more and make a decision then
@@pbrady85 It's worth noting that Trading 212 also offers ETFs since our recording of this video, but not to the same extent as Degiro!
but where do i send my tax info and where do i sign the agreements
You should be able to do this in the app when you get to this stage and it prompts you.
@@TheLearningsReport ok thanks
@@matuslegnavsky1228 No worries 👍 Hope you get it sorted!
I have a question about the registration part..
If you skip to 1:40 you can see the part to enter your IBAN details.
As for today's reality they ask for a Sort Code and account number.
I have a IBAN account, can I still register?
Hey - yep it should still work (we have IBAN accounts also). The IBAN should work for account number, and then you should also have a sort code tied to your bank? I'd suggest looking at a recent bank statement to find it.
Which country are you trying to register from?
- Ste
@@TheLearningsReport Thanks for replying back. I already did that research, turns out it's BIC code!
@@yoav_e4445 Excellent, that's helpful for us to know also in case someone else asks. Thank you for circling back with us!
Do they have joint accounts? Or the ability to add my wife’s names to an individual account?
Hey Rob - It doesn't seem like Degiro have given a clear answer on this, and we haven't enquired directly ourselves. I've read a few forum threads that seem to include people who say they spoke with Degiro and were told it wasn't possible - but for every 2 people who said it wasn't possible, there was one who said it was! 😅I'd say you're going to have to contact Degiro directly and see what they say (if you haven't already - I understand the wait time can be a pain)
Thanks for the video. Im going through registration and was trying to link bank account. The Iban is not being recognised. Im putting payment through as international payment. I will go into branch next week as person in Internet banking said branch can put through international payment. Do you have any information on this.
Hi Francis - is the country you're registering from eligible to open an account with Degiro? If the issue is the IBAN, then perhaps you're using a bank that isn't supported by Degiro.Let us know!
- Ste
@@TheLearningsReport. I got it to work. Thanks for reply.
Hi
Loving the channel by the way, as there are no fractional shares on degiro, does this count for ETFs too? For example a share of S&P 500 might be 100 and I plan to invest 80 per month, is this possible or do you need to buy a minimum of 1 share which may rise over time I assume so every month your minimum investment could potentially have to be more?
Cheers Mike! At time of writing, yep, same for ETFs unfortunately. You'd need the full amount to purchase 1 share of the ETF you're interested in.
I'm baffled that Degiro still haven't introduced fractional shares (assume it's regulatory, but still). I would like to think they'll get their act together soon!
- Ste
@@TheLearningsReport
Thanks a lot Ste 🙏
After opening the account through my mobile phone, I guess I will still be able to use my computer to trade. Won't I?
Hi Piercoucy - you should be able to use it on the web platform even if you set up on mobile. 👍
@@TheLearningsReport Good evening, the time to open a trading account has finally arrived, and De Giro is my first option. Do you know if it's still possible to open the account if you're resident in UK?
@@piercoucy Hey I believe you still can. yes!
@@TheLearningsReport Thank you! One last question. If I open a basic account and allow DeGiro to lend my shares, what happens in the moment that I need to sell them? Do I have to wait for my shares to be returned by whoever they were lent to?
For the past month I've been trying to transfer an initial deposit to verify my bank account but they continue to just send it back, I'm am useing Bank of Ireland. I think I might have their wrong BIC and IBAN but I'm not sure. Any idea what the problem is ?
Hey Lorcan. Hmm, strange. Hard for us to give any solid advice without knowing all the details but yeah definitely triple check all the details are correct first and foremost! Assuming you've already tried to contact their support? They're a little slow, but usually get back to you eventually.
Also, check out this page as it might be of some use (if you haven't already had a look)
www.degiro.ie/helpcenter/faq/money-transfer/1119#2075/how-do-i-transfer-funds-to-degiro
Let us know if you figure it out - you might not be the only one having the issue!
@@TheLearningsReport thanks for the reply. Is there anywhere I can find the right IBAN and BIC? I'm finding multiple variations out there. It also says they only accept GBP but as I add them as a new PAYEE adding that there bank is located in the Netherlands BOI only allows me to send euro.
I have tried a few times to contact them via email but still nothing has come of it.
Sorry for all the questions
@@lorcand630 Hey Lorcan - no worries at all, we're happy to answer your questions and help if we can. :)
In terms of the IBAN and BIC location, it should be in the Deposit/Withdraw section of the app. So, when you hit the three lines in the top left, it is the blue section under your profile name (see 3:50 for reference). Go to deposit, hit manual transfer to DEGIRO and the IBAN details should be there. Actually, I believe Degiro may have changed some bank account details recently so perhaps this is why some of your funds have bounced back.
The GBP part is strange - perhaps there is some cross-wires with the UK app and the app is confused. For my transfer, it is in Euros. As a last resort, I would recommend re-linking your bank account. I have heard of some folks having to go through this process for BOI and other banks. You may have to set up Degiro as a payee again - I know this may be a bit of a hassle but hopefully it should resolve the deposit issue and get you started on Degiro!
If my plan is long term unit cost averaging into index funds which account do ye advise Basic or Custody?
Hi Paraic, I (Cian) would have a similar strategy to you and I reckon the Basic account would be better for you.
Firstly, Basic Account offers you more flexibility in the future with account upgrades and flexibility if you want the choice in the future.
Secondly, it will be cheaper. If you have dividend-paying funds/ETFs, the custody account has a high processing fee for dividends: € 1.00 + 3.00% of the dividend amount whereas the Basic doesn't.
More information on the account differences can be found here: www.degiro.co.uk/helpcenter/faq/profiles/
Let us know what index fund you invest in!
-Cian
@@TheLearningsReport Thanks Cian. The main advantage of going with the Basic account is lower fees and dividends benefits. I suppose with the Basic account we are taking a higher risk by granting Degiro permission to loan out our holdings which makes me wonder is it the safer bet going with the Custody account even tho there are higher costs but at least you have a high level of security?
Personally, I am more attracted to the Basic account for the cost-saving benefits but I'm just not 100% sure I understand the level of risk. worst-case scenario 30 years down the line I want to withdraw my money and there's an issue due to my holdings been loaned out, so if I had my money held in a Custody account I will be avoiding this predicament? Do you think the Benefits of the Basic account outweigh the risk?
@@paraicodonoghue6421 All valid points, Paraic! We need to be a little careful in terms of offering too much advice/guidance on these matters (Not financial advisors, etc etc.). Everyone's situation is different, but it sounds to us like you're doing your due diligence on both options (which is the main thing).
Keep in mind, banks also use your money to make loans to other people - just some food for thought! Thanks - Ste
Great vid 👍
Nice one Corey, appreciate it and hope it helped you out 👌
Can we trade options using this?
Hey Siddharth - cheers for the question. In short, the answer is yes & no. It depends which markets you're interested in! Link below should help you decide
brokerchooser.com/broker-reviews/degiro-review/trade-options-at-degiro
I am looking to set up a Degiro account. I'm Irish, living in Switzerland. I only have a Swiss driving licence and my permit ID for verification. I don't think they will accept either of them 🤔 Is there any other way to get verified if they don't accept these two forms of ID?
Hey James - out of interest, have you tried with your Swiss ID yet? I had a quick look there, and it seems Swiss accounts are eligible. Again, I can't say if your ID will work, but I would be surprised if your permit and license don't do the trick. I guess it's worth a shot anyway, nothing to lose really! I wouldn't know of a workaround if not, but you could always pop Degiro a message and explain that you're Irish in Switzerland. They might be able to get you set up using your Irish ID instead.
Let us know how things go.
- Ste
@The Learnings Report My Irish passport worked fine. Once I had a Swiss bank account, Degiro was happy to activate my account 😁
@@jamesmccabe2910 Nice one, glad to hear it. Best of luck with ti!
is degiro better than trading 212 for just index fund investments?
Hey Sean - 'better' is somewhat subjective, they're both pretty similar with similar offerings. Try both and see which you prefer 🤷♂️ Trading 212 isn't currently accepting new customers though, in case you weren't already aware. Waitlist only!
- Ste
@@TheLearningsReport any ideas when it may be available to trade again? I'm only thinking 212 because of fractional shares
@@tedthepom5129 Afraid not - the waiting list has been active all year now, and they don't seem to have been very communicative with dates! Best thing is to get your name on the waitlsit if you haven't already, and just sit tight. However, for fractional shares - there are a couple of other brokers you can look at: Revolut, eToro and Interactive Brokers all offer fractional share trading and might be worth looking at!
Great video. I was setting up an account and after it verified my passport it wants a selfie. Is it safe?
Thanks Anjo! Yes the selfie is to cross-verify that your ID and your face are a match. That being said, we didn't look into the details exactly, but at a user level - we haven't had any safety issues as a result. Hope this helps!
Was just going to ask that question... when I came to the selfie bit, I stopped and then cane across this video!! Thankyou
I have tried register with my passport, but always recive a message saying "Recording failed"
Hey Kouks - couple of things you might want to double check. Is your uploaded image/pdf of your passport clear and visible? Are you trying to upload your ID via the app or desktop? (try both) Is your nationality/passport accepted? (I'm sure it is is, but you never know). If you're still having trouble, perhaps try a different piece of ID (if you have one)
If none of the above has worked for you, we'd also suggest trying to get in touch with their support. They're quite slow, so it might be worth contacting them first to get the ball rolling, and then continue to try upload your documents while you wait using our suggestion above!
Let us know how you get on.
@@TheLearningsReport hello ! I have the same problem with my pass loading .
I don't know maybe it is because I am a Russian citizen and I have Russian pass , but I live in Greece , more than two years and I working here , paying tax , and I have residence permit, all papers , everything . So I tried to both I tried to download both documents, but it doesn't accept either Russian or Greek. What kind of problem it can be ?
Thank you for your time !
I'm from Finland. I try to login in with app but no luck so far. I also try desktop but i only get messages to login using the app. I emailed customer support but no answer there yet.
@@andreyditrikh6172 Hi Andrey - I believe they don't have many nationality limitations (I only see issues for US citizens on the website), just bank account location limitations. I see from their website that currently they do not support Russian bank accounts but do support Greek accounts (which I presume is what you are doing?).
The two other potential issues other than the ones outlined above could be 1) is the file type supported? Maybe try with a PDF/JPEG/PNG (whatever you didn't try already) or 2) is the alphabet supported? I wonder if the system is having a problem with the Greek and Russian alphabet and can only scan the Roman alphabet?
In any case, I would recommend reaching out to the customer support team as your case seems quite unique. It might take a while but I did get a response.
@@kouks565 Hi Kouks, that's annoying. The customer support has been slow recently but they do get back to you. Perhaps try upload with different file types in the mean time (e.g. PDF vs. JPEG vs. PNG). We hope either this works or they can solve it for you.
I have a question if you can halp..
I set up my account fine I'm with AIB, (I used a card reader) but my bro is setting up his own account on bank of Ireland so I'm assuming the transfer system is a little different ..the problem is that when he logs into degiro he's stuck on the "SEND 0.01¢ and connect your account" screen which I vaguely remember myself when signing up....so he did 'TRY' to send money today and they apparently don't use card readers. (News to me) but he cannot move past that screen...The money has also 100% been taken from his bank account. Is that a thing that he's stuck at that point until the money goes through?
I can vaguely remember something like that myself when setting up my own account so I was hoping you'd have some insights on it.
Anyhow, Thanks for your halp 👍
Hi Corey,
I used KBC which doesn't require a card reader so I imagine it is similar to BOI. I believe it does take a while for Degiro to 1) receive the funds and 2) link to the bank account details you provide. As we mentioned in the video, Degiro is quite slow at verifying accounts at the moment.
When did your brother send the money? If it's
@@TheLearningsReport Cheers buddy. He only sent it today so I expect it to take a while but I just hope he gets it at some point.
And the fact that he can't leave the "connect account" screen on the degiro app was a little confusing, but he did email them so hopefully he gets it sorted, and thanks very much for the info and kinds words, I wish you all the best in the future with your channel also. Again, much appreciated, subbed 👍
@@coreygodofall1 ah, yes, I remember I was stuck on that screen too. Should be fine once the account is verified. 👍
Brilliant, thanks for subscribing! Any questions, let us know.
@@TheLearningsReport Thanks very much, have you been involved in this whole GME and AMC thing?
@@coreygodofall1 Definitely crazy to follow, and very interesting, but absolute speculation (from 95% of people) and although there are of course valid arguments about these companies recovering long-term, I (Ste) personally have no interest in owning Game Stop stock, or AMC stock.
For most (and similar to what you see with Doge Coin or any other of the 'hot' crypto coins), the price rockets because everyone is buying. The new people who buy the security/coin (or whatever the next hot thing is) are paying for the gains of the people who got in just before them. This is great until it stops! And someone (likely some poor TikToker who just watched a 100x to the moon video) gets left holding the bag of sh*t.
So in summary, these meme stocks are fun to play with, as long as you're aware that for most, its people buying it because they think more people are going to buy it. And that, my friend, is the definition of speculation
Do DEGIRO trades stocks like KNDI, FBIO, ELVT, OPTT, SUNW in Nasdaq and NYSE
@nimal dayan Yes, I just checked there. ✔ Degiro has those stocks available to trade.
@@TheLearningsReport Thanks and appreciated
@@nimaldayan8043 No worries! Best of luck.