Are you one of those forex traders who are confused about the Degiro trading company? Who has no idea what degiro actually is and how it works? Here in this article we will give you a detailed degiro review and everything you must know about it before using it as a trading platform. We will also give a brief introduction about paper trading and its benefits.
What is Degiro?
A Dutch investment company working since 2008. This trading company has been offering their services online since 2013. Now they are headquartered in Amsterdam with offices in 18 countries. FCA (Financial Conduct Authority) controls its activities and is regulated by AFM and DNB in the Netherlands. Degiro traders have been awarded with almost 86 international awards till now.
Geographic Distribution:
Degiro traders are geographically distributed as:
- Belgium (11.14%)
- Germany (7.68%)
- Ireland (4.74%)
- Poland (4.52%)
- Netherlands (2.34%)
- Thailand (2.2%)
- Bulgaria (1.3%)
- Australia (1.1%)
- Indonesia (0.9%)
- Others (34.08%)
Trading Conditions:
A trader is successful because of the trading conditions they are offering. Degiro is well known for its trading conditions which are convenient for people. Here is a list of few trading conditions of Degiro:
- There is no Minimum Deposit that means you can invest even a small amount.
- No demo account because there is no minimum deposit
- There is no commission even if you are not an active trader.
- You can open investment account within one day
- Replenishment and withdrawal is convenient.
- Leverage rate is 1:1.
- Providing support for 8/5.
- No spread rate
- Mobile trading and affiliated programs are available
- If you participate in “member get member” you will get 20 euros.
Useful services:
Here is a list of few useful Services offered by Degiro
Educating section:
They are offering online education via blogs. You can learn about investment ideas, analytical articles, and details about latest financial and economic events.
Calendar:
They display a calendar to their clients in which their working hours are mentioned along with any holidays.
Investor academy:
If you are a beginner trader you will get a section of investor academy in which you can learn about trading and investing.
Best paper trading apps for stocks:
Do you know about paper trading and paper trading apps? Do you want to know the best trading app for paper trading? Paper trading is the best way you can use to test any brokers services and trading strategies. It’s a platform that allows you to buy and sell stocks with virtual money. And the apps or platforms used to do this virtual buying and selling are known as paper trading apps.
What are the benefits of a paper trading app?
Are you thinking about whether you should try paper trading or not? You should definitely try it. These trading apps are mostly free or at least offer you free trials. There is no risk involved in paper trading.
Benefits for novice traders:
- Beginners can use it for practicing as there is no risk of loss. You can do your research and practice about new trading strategies easily.
- It can give confidence to novice traders by providing a safe place.
- It’s free so you don’t have to worry about spending money on learning.
- Many of the best paper trading apps are offering free trials.
- They provide you smooth transactions from fake investing to real trading. Some brokers even offer you a discount or bonus when you open a real account.
Benefits for professional:
Along with beginner paper trading apps also having many benefits for professional traders. These are:
- No risk involvement so it’s the best platform for traders who want to try out new strategies.
- Professionals can use it for a few weeks or months to learn about a new type of strategy.
- You can improve your trading skills if you already are a professional trader.
