In 2014, DEGIRO expanded its online trading platform across several European countries outside the Netherlands, its country of origin. Since then, it has been growing steadily, reaching over 2.5 million clients in 15 countries in Europe.
Want to know if DEGIRO is available in Hungary, what its expansion plans are, and the alternatives available? We’ve got you covered!
Is DEGIRO available in Hungary?
Currently, DEGIRO is not available in Hungary (a.k.a. Magyarország).
The company sent an e-mail to their clients in 2022 informing them that they had made the business decision to terminate their services on the Hungarian market. Users had to close their positions until the end of the year.
It is unclear whether DEGIRO will ever be available in Hungary again. The company is re-evaluating its services in the Hungarian market and has decided to stop onboarding new clients for the time being.
DEGIRO Magyarország | Homepage
DEGIRO Alternatives in Hungary
eToro
With over 30 million customers worldwide, it is a technology-first platform with no trading fees for stocks and some ETFs. Ideal for learning the ropes of active trading and for people looking for social trading.
Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Interactive Brokers
Founded in 1978, IBKR is one of the world’s most trustworthy brokers. It offers an enormous range of financial products (stocks, ETFs, Options,…), and low currency conversion fees (FX fees).
💡 Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs, ideal for novice investors.
All these alternatives to DEGIRO are regulated (or registered) by top-tier regulators such as the UK’s Financial Conduct Authority (FCA), Germany’s Federal Financial Supervisory Authority (BaFin) and Cyprus’ Securities and Exchange Commission (CySEC).
1# eToro
eToro at a glance
Founded in 2006, eToro is a well-known worldwide fintech startup and the leader in the social trading field (follow other people’s trades), with over 30 million users worldwide and that offers commission-free stock and ETFs trading in Hungary (not all ETFs are commission-free). You can also invest in other products such as CFDs, ETFs, stocks, commodities, Forex, and cryptocurrencies through their platform, which is intuitive and simple to use, making it a good choice for beginners or someone looking for a DIY (“do it yourself”) platform.
Opening an account and depositing is easy, and you can even try it out with a Demo Account (virtual money). On the downside, spreads can be high for some products. The only currency accepted is the USD, which means that you’ll be charged currency conversion fees upon deposit and withdrawal if you deposit in another currency.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
2# Interactive Brokers
Interactive Brokers at a glance
Founded in 1978 and publicly listed in NASDAQ (ticker: IBKR), Interactive Brokers is a global online broker which surpassed major financial crises, showing resilience and a rigorous risk management process.
Interactive Brokers offers an advanced investment platform that includes a wide range of products (stocks, options, mutual funds, ETFs, futures, bonds, and currencies) from 150 markets, solid trade execution (IB SmartRouting), and a set of technical and fundamental tools to help you in your investment decisions.
Beginners and intermediate investors have educational tools to explore, but the learning curve will be steep. That´s why we mainly endorse it to more advanced traders. Besides, the customer service gives crystal clear answers to your doubts, so there is no need to go back and forth.
On the downside, Interactive Brokers’ fee structure is quite complex, the registration process is lengthy but fully online, and the broker doesn’t offer commission-free trading. However, when considering FX fees, narrower spreads, and the stock loan program, Interactive Brokers’ clients still get significant savings compared to most brokers.
Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs, ideal for beginner investors. Some of the features of IBKR GlobalTrader include automatic currency conversions, fractional shares, demo account, and more.
Want to know more about Interactive Brokers? Check our Interactive Brokers Review.
Which platform should you choose?
Whether you decide to invest in stocks through eToro, Interactive Brokers, or any other trading platform, you should take the time to compare the platforms before you decide which trading platform you would like to use.
Be sure to compare education resources, pricing information and the products offered before pressing the trigger and open an account. This process will help ensure that you do not need to maintain multiple accounts to access all the tools you need.
The best online broker in your specific case will depend on your profile, preference, and objectives. Explore the websites above and decide for yourself!
A reminder that the above should not be construed as investment advice and should be considered information only. Investors should do their own research and due diligence about the services and opportunities best suited for their risk, returns, and impact strategy.
Hope we helped, and leave your comments below.
Happy investments!
Pedro is passionate about finance, marketing, and technology. He is a growth manager at several online projects and a former digital marketer for a fintech company.
