I was a bit confused with DEGIRO’s fees. They mention no commission, but on the other hand there is this €1 order handling fee too (e.g. if you trade ETFs). Why do they mention free if there is a fee? Also, bit confused with FX conversion, can I somehow avoid it?
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Conversion fee caught me off guard too. DEGIRO charges 0.25% for conversion, which adds up if you’re trading in non-EUR markets frequently.
Yeah, fees were lower in the past. They introduced this order handling fees and now the service is getting leeds competitive, e.g. many cheaper brokers are out there. You can minimize FX conversion fees if you manually convert currencies as per here: https://www.degiro.ie/helpdesk/money-transfers-and-handling/can-i-hold-multiple-currencies-my-degiro-account
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in general, the fees at DEGIRO depends on your trading frequency and volume. If you’re making a lot of small trades in foreign currencies, the fees can eat into your profits. But for long-term investing with fewer transactions, DEGIRO can be quite cost-effective (pretty low commissions, no inactivity fee, no custody fee etc.)
to me, the €2 fee is not an issue. I invest into US stocks mainly and hold them longer. In that sense, these fees are still very competitive. What keeps me engagde is the platform: very intuitive platform with great features.