Are you confused about whether to choose DEGIRO or Freedom24 as a broker for your investing needs?
In this side-by-side comparison, we analyse DEGIRO and Freedom24 to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.
Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!
DEGIRO vs Freedom24: In a Nutshell
Commission-free ETFs and local stocks
DEGIRO is a European low-cost brokerage firm that has become very popular due to its low rates! With over 2 million users, the platform has become widely known for its “do-it-yourself” philosophy.
It offers a wide range of financial assets to trade, including stocks, ETFs (check the list of free ETFs), bonds, options, futures contracts, warrants, investment funds, and some leveraged products.
The mobile app and web trading platform are basic but very efficient and straightforward to use. Some downsides are the absence of any significant fundamental research and the lack of pricing alerts.
New stocks at the IPO price
It offers stocks of new companies at the IPO price, as well as 40,000+ stocks, 1,500+ ETFs, 800,000+ US Stock Options, and 147,000+ bonds on the largest exchanges in Europe, Asia, and the US.
Freedom24 trading platform can be accessed through PC and mobile App versions. They are well-designed but lack customization options. It includes additional features such as “InvestIdeas” and “News”.
All Freedom24 clients have D-accounts – USD and EUR saving accounts that give you interest rates in your parked money (up to 3% per annum).
Pros and Cons
DEGIRO
Pros
- List of commission-free ETFs available
- Commission-free stock (US, CA and home market)
- User-friendly web and mobile app
- Wide range of investment options
- Education material: Investor’s Academy and Investing with DEGIRO
- Low overall commission structure
- No account opening, inactivity, or withdrawal fee
Cons
- 0.25% currency conversion fee (charged if you deposit or invest in a different currency than your base currency)
- €/£1 flat handling fee (charged in every transaction)
- €/£2.50 of connectivity fee (paid annually), per exchange where you’re invested
- Does not offer Forex, CFDs, and Cryptos
- No demo account
- Little research
- Low-quality customer support
Freedom24
Pros
- No fees for the first 30 days
- Early access to new stocks at the IPO price
- Low commissions on stock and ETF trading
- No minimum deposit for general trading
- Demo trading
- USD saving accounts at 3% per annum
- Slick, modern, and easy for anyone to use
- No custody fee
Cons
- Minimum deposit of $2,000 for new stocks at the IPO price
- €7 per withdrawal
- High currency conversion fee
- High costs for stocks bought at the IPO price
DEGIRO vs Freedom24: Side-by-side Comparison
- General Information
- Founded in
- Demo Account
- Account Minimum
- Products
- Stocks
- ETFs
- Bonds
- Funds
- Options
- Futures
- CFDs
- Leverage Products
- Forex
- Cryptocurrencies
- Commodities
- Fees
- US stocks
- EU stocks
- ETFs
- Cryptocurrencies
- Custody Fee
- Inactivity Fee
- Withdrawal Fee
- Connectivity Fee
- Currency Conversion Fee
- Security
- Regulators
- Investor Compensation Scheme(per person, per institution)
Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.
