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  #41  
Old 21.09.2017, 15:27
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Re: DEGIRO stock broker: any thought?

I have a custody account, I prefer that "my stocks" remain in "my hands", but because of this dividend processing fee, I am hesitating to switch to normal account
Please remember that some (most?) ETFs will actually pay out the dividend (only the accumulating ones will not), so with custody account you will pay this "dividend payment fee".


One thing to note about De Giro - they have a small fee for connecting you to non-domestic Stock Exchanges (the ones on which you buy your stocks) - 2.5 EUR per Stock Exchange, per year.
For me it means that I have SIX for free, but I need to pay 5 EUR for 2 foreign Stock Exchanges.


As per info on their site - they are operating under Dutch law, which provides a guarantee up to 20.000 EUR to their customers. If you invest more, you start having higher exposure.
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  #42  
Old 26.09.2017, 00:27
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Re: DEGIRO stock broker: any thought?

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As per info on their site - they are operating under Dutch law, which provides a guarantee up to 20.000 EUR to their customers. If you invest more, you start having higher exposure.
This, so far as I have understood is only applicable to cash money in the account - if you have 100.000 in stocks + 20.000 cash, degiro goes belly up, you still get your 100.000+20.000 back.

If you kept the 120k cash in the account, you just lost 100k...

Cheers,
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  #43  
Old 09.10.2017, 11:29
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Re: DEGIRO stock broker: any thought?

I realized one more thing (it may be standard for all brokers, I have no clue because my experience is limited) - degiro will always convert your cash assets to your main currency, which may generate some (small) extra costs due to double conversion (spread).
My example, to make it easier to understand - I have a CHF account, but I have some ETFs from US stock exchanges. If I sell my stocks or get dividends, I will have USD. Some hours later degiro will automatically convert those USD into CHF, but I might be willing to buy some US stocks with this cash, so I will have to initiate a conversion back from CHF to USD...
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  #44  
Old 22.10.2017, 21:37
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Re: DEGIRO stock broker: any thought?

This is indeed very strange. You can set USD conversion to "manual", so it won't convert automatically to CHF. You can use your USD to buy USD shares then.
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  #45  
Old 22.10.2017, 21:46
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Re: DEGIRO stock broker: any thought?

If you set it to manual then you will pay 10E + 0.02% conversion fee when you actually want to make the conversion.

If you leave it with AutoFX then you get charged 0.1% only when it automatically converts it for you.

https://www.degiro.ch/data/pdf/ch-en...700.1494962523
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  #46  
Old 23.10.2017, 14:51
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Re: DEGIRO stock broker: any thought?

I have been doing some research about Degiro and I found this blog from a Dutch broker, and he has quite some concerns about their business practices...So I'm not that convinced about these guys

"There is a difference between smelling a rat, and catching one. A few weeks ago I noticed the hedgefund HiQ was in the kitchen of online broker DeGiro. Terrible situation, don’t set the fox to watch the geese."
> Source: http://www.amsterdamtrader.com/2015/...s-clients.html

" The discount broker DeGiro has been executing client option orders against their own hedge fund, HiQ (...)"
> Source: http://www.amsterdamtrader.com/2015/...hedgefund.html

Other articles: http://www.amsterdamtrader.com/tag/degiro
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  #47  
Old 23.10.2017, 16:00
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Re: DEGIRO stock broker: any thought?

I think it's great to research your broker, especially since many of them are pure sheit, but as we all know, financial markets change quickly. What's a big problem today, is non-existent tomorrow (or well hidden).

These articles are from 2015 and one could argue that these are not so relevant anymore, especially by reading more recent review .

That said, I also looked up "the Amsterdamtrader" which seems to have something specifically against degiro - not a single good word about them, which I find a bit suspicious. Any other review of degiro brings up both good and bad points

My bet? His ex works there….
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  #48  
Old 23.10.2017, 16:47
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Re: DEGIRO stock broker: any thought?

Well, I agree that he does not bring up (almost) any positive comments, but on the other hand the accusations are quite serious. Executing client orders against their own hedge fund ??

Then you have the issue with lending the stocks. Sure you can have a custody account, if you pay more, but the hedge fund topic is coming up again...

One starts wondering why they are so cheap compared to others...and to be honest, I do have my concerns about them.
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  #49  
Old 24.02.2018, 11:11
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Re: DEGIRO stock broker: any thought?

Opened an account and like what I see so far, better interface than Strateo and cheaper.
They also allowed me to open an account on the UK version with a Swiss address and declared tax residence in CH (linked to UK bank). Thus I can buy UK shares without the extra stamp duty.
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  #50  
Old 24.02.2018, 21:52
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Re: DEGIRO stock broker: any thought?

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Thus I can buy UK shares without the extra stamp duty.
Without even the UK stamp duty? On ordinary shares, not ETFs?
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  #51  
Old 26.02.2018, 22:56
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Re: DEGIRO stock broker: any thought?

You should be so lucky! You pay UK stamp, but not the extra stamp CH has for oversees buys (which is extra).
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  #52  
Old 27.02.2018, 15:50
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Re: DEGIRO stock broker: any thought?

Has anyone experience about getting documents from Degiro for filing income tax return in Switzerland?
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  #53  
Old 27.02.2018, 17:32
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Re: DEGIRO stock broker: any thought?

I got in electronic version a report of all my assets on 31.12.2017 + all transactions during 2017. I believe first part will be sufficient, but I will know only once I do my tax declaration in May.
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  #54  
Old 02.03.2018, 15:51
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Re: DEGIRO stock broker: any thought?

So, would you guys recommend it then?
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  #55  
Old 28.06.2018, 14:31
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Re: DEGIRO stock broker: any thought?

I have a feedback from my tax consultant - in principle, the report provided is not the one required by tax authorities. What is possible, is to download a list of all transactions for a given period of time and register those one by one in your tax declaration, but this can easily be a massive exercise.


Bottom line, I have mixed feelings because of the documentation provided for tax declaration. Otherwise, I have no other complaints, issues - all is smooth (including responsiveness of helpdesk that I contacted 2 or 3 times to clarify things and predictability of costs - no hidden fees so far), but it is important to mention that I have no experience with any other broker.


The best would be an opinion of someone who has experience with at least one other broker to compare.
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  #56  
Old 02.07.2018, 03:45
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Re: DEGIRO stock broker: any thought?

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register those one by one in your tax declaration, but this can easily be a massive exercise.
Transactions don't affect your taxes, so no need to type them all into tax program actually. Printout of trades straight from broker account statement should do the trick if it's really such a massive undertaking - they only want the list to see a) if they can pin you down as a "professional trader" in which case they matter, b) double check that you've summed up the dividends correctly
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  #57  
Old 15.08.2018, 15:16
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Re: DEGIRO stock broker: any thought?

I heard bad things about them e.g. this: http://www.amsterdamtrader.com/2015/...s-clients.html

and also some noise about how client shareholdings are actually held
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  #58  
Old 15.08.2018, 15:31
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Re: DEGIRO stock broker: any thought?

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I heard bad things about them e.g. this: http://www.amsterdamtrader.com/2015/...s-clients.html
Someone was already referring to this blog and there was a discussion about its credibility.
Anyway October 2015 starts to be quite old opinion and it would be good to have a fresher review (by someone who has good knowledge of the sector, not just simple, small-size customer as myself).
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  #59  
Old 08.11.2019, 16:21
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Re: DEGIRO stock broker: any thought?

some of you discussed fx management.

I just opened an account and i'm interested in buying some usd and eur stocks.

Should I change some settings ?
Should I take Degiro's fx transactions or should I transfer USD and EUR with Revolut, and how ?

Thank you
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Old 15.11.2019, 13:02
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Re: DEGIRO stock broker: any thought?

I received the following notification from degiro:

--
Reminder: change in compensation for the Money Market Funds
At DEGIRO, your unused money is automatically invested in a Money Market Fund (MMF) via a standing order. As we have previously informed you, we will be applying limits to the compensation of holdings in MMFs. Effective as of the 15th of November, you will only receive compensation up to CHF 3,000 in MMF holdings. For more information about the MMFs and the compensation policy, please click here.

Please note that the return for the FundShare CHF Money Market Fund is around -0.9% this year. If you do not choose to invest your money at this time, you can, of course, move it to your bank account. When the time is right, you can always deposit your funds back to your DEGIRO account.
--

does it mean I shouldn't keep any uninvested money at degiro or else i'll lose 0.9% due to the negative return of MMF?
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