Pros & Cons
- Highly-functional trading platform app for mobile devices
- Access to over 50 different global exchanges
- Cost-effective trading fee structure
- Streamlined online registration process
- No cryptocurrency trading options
Essential Questions About The Degiro Demo Account
Below, we’ve outlined a number of essential questions that tend to pop up when discussing the latest Degiro demo account. Although there is no dedicated Degiro practice account, it is possible to open a free trading account with no minimum deposit – all of which is non-binding. If you wish to make use of an online broker with a demo account, take a look at our latest coverage of the TradeStation demo account. At Betting.co.uk Finance, we strive to bring you a comprehensive overview of all the latest online trading platforms that are on offer within the online trading sphere in the UK.
What is a Degiro practice account?
As we’ve outlined above, there is no Degiro practice account to speak of. You’ll find that Degiro does allow you to open a free trading account that has no minimum deposit limit. This makes the entire registration process non-binding. Although this is outlined in the brief of the official website, you will need to link a payment method and deposit £0.01 in order to fully verify your account.
A normal online demo account will allow you to engage in simulated trades which mirror the live (real) trading platform of the broker in question. This is designed to give individuals insight into how the platform functions and what kind of online trading tools and features are available. With the Degiro free account, you won’t need to commit to anything. You’ll be able to sign up for free and peruse the platform without facing any hindrances. However, you won’t be able to execute trades with ‘fake’ money as is the case with a real demo account.
Where do you download the Degiro demo account software?
You won’t be required to download any software in order to use the free account. Keep in mind that this is not necessarily a Degiro practice account but rather the free account which acts as the normal trading account for Degiro customers. The free account will use the web trading or mobile trading platform. The mobile trading app must be downloaded from the respective App Store. The web trading platform for desktop, laptop, or mobile does not require you to download any type of software. This is great news as it doesn’t force you to take up storage space on your device and it enables you to access your trading account without having to use the underlying software.
If you do end up using the mobile trading app to register and access the free trading account, you’ll need to download the app. There is no other software though. The app is only 11MB in size and will enable you to quickly and efficiently access your trading account.
Why use a Degiro practice account?
Accessing the Degiro demo account is out of the question as there isn’t one at the time of writing. However, the Degiro free account acts as a demo account of sorts. We believe that it is best using a demo account as it allows you to get a feel for an online trading platform. If you happen to be a rookie trader with no experience, demo accounts are vital to your overall learning process. Jumping head-first into a live trading account is complicating and overwhelming. Not to mention that you open yourself up to risk from the onset.
The best way to approach online trading is by using a demo account at first. This will enable you to get a feel for online trading and how to go about opening and closing trade positions. It’ll provide you with the insight needed to execute live trades as soon as the price is right. It will allow you to learn how to utilise the relevant trading tools and features. It’s also possible to use a demo account in conjunction with a number of educational resources. This provides you with the ability to analyse market data and use commentary and news feeds to your advantage. Be sure to make use of a demo account if you are an inexperienced trader. It truly does enable you to gain some online trading experience without having to use real money funds.
What can you trade on the Degiro free broker account?
You will be able to access a range of different asset classes and markets when using the Degiro free account. As we’ve outlined, it is not necessarily a demo account and you will be required to find your account prior to trading with these options. However, we’ll still highlight what you can expect to trade with if you do choose the Degiro online broker as your preferred trading platform.
You can access shares, ETFs, currencies, leveraged products, futures, bonds, and options. There are over 50 different exchanges from 30 different countries. We hope to remind you that this is not a demo for a free trading account. As such, you cannot trade with these instruments and enter these markets without having funded your actual trading account. If you do try to use the free trading account as a demo account, you’ll find that it is not possible to execute a trade or take out a position. This is one of the reasons that the Degiro free trading account is not necessarily as useful as a dedicated demo trading account.
For those experienced traders who don’t feel the need to use a demo account prior to trading, then the Degiro free account is a good option. There are a range of markets and exchanges that can be accessed with relatively low trading fees and the chance to use a mobile trading app that continues to receive positive reviews.
Our Experience With The Degiro Demo Account
There might be no demo account on the Degiro trading platform, but this didn’t stop me from signing up with the online broker and creating a free trading account. It was important for my research to ascertain how easy it is to create a trading account, link a secure payment method, and engage in an online trade. With the practical analysis, my review falls by the wayside. As such, I embarked on my task and was delighted with the ease of registration. I found that it is possible to create a verified trading account in a matter of several minutes. All you need to do is provide the online broker with the necessary information and upload an identification document so as to verify your identity. From here, you’re basically set to start trading.
You’ll have access to all the educational resources if you feel you need to learn a little more about online trading before you make a real money deposit. Adding a payment option is a breeze and it will enable you to facilitate secure deposits and withdrawals without facing any unwanted threats. I was amazed at the ease at which you can open a position. I put in stop-limit order and the trade executed perfectly.
As such, I’m confident that the Degiro platform functions well and provides users with more than sufficient tools and trading features. This leads one to believe the Degiro free trading account and subsequent trading services on offer are more than satisfactory in scale and application. I feel that this platform benefits all types of online traders who are looking to access a number of different trading products at competitive fee rates.
Beyond Demo Accounts: Useful Information About Degiro
When it comes to additional and useful information pertaining to Degiro, we’d be remiss not to mention certain fees that might affect your decision-making process. Although it is free to open a trading account with Degiro, you will incur a number of trading and non-trading fees during the course of business. This is the case the world over. In terms of nominal trading fees that you’ll confront, it is important to take into consideration the fees that apply to popular products.
Trading stocks and leveraged products on the LSE will incur a fee of £1.75 + 0.014% with the maximum fee capped at £5. Worldwide ETFs will incur a fee of €2.00 + 0.03% while short stocks while OTC bonds have a trading fee of €35.00 + 0.03% attached to them. US Options have a fee of $0.50 per contract.
You can incur a Degiro Exchange connection fee of €2.50 (max 0.25% of your account value) per calendar year per exchange. Real time price feeds of the London Stock Exchange will cost your £4.50 per month while an internal portfolio transfer costs €7.50 per position.
There are a range of additional fees that you might encounter during your stay with Degiro. As such, we always recommend that you download the official fee schedule so that you are familiar with all fees that might affect you. If not, you might find yourself embroiled in an undesirable stand-off with your trading platform.
Get Started With Degiro
Below, we’re going to outline how you can get started with the Degiro free account. Yes, it’s not necessarily a Degiro practice account. However, if you’ve read our review of Degiro and like the sound of this online broker, then use the step-by-step guide below to get started. The online broker continues to impress customers and has received a number of recognitions.
- You can click on the link that is featured on Betting.co.uk Finance and it will redirect you to the official Degiro website. From here, you’ll need to click on the yellow button that says Open an account which is located top-right of the screen.
- Fill in a valid email address, username, and password. You’ll need to verify your email and proceed with verifying your identity and completing the registration process. Much of this is put in place to protect you and limit identity theft.
- You’ll need to add a mobile number and we recommend enacting two-step authentication.
- Once you have completed the registration process, you’ll have a valid trading account. Although you won’t have the benefits of using a demo account per se, you can still navigate around the site and get the feel of it.
- From here, you’ll be able to start depositing funds in order to trade.
Conclusion Of The Degiro Demo Account
Unfortunately, there is no real Degiro practice trading account. This means that those looking to learn more about online trading without having to deposit real money funds might find this platform slightly daunting. You are able to open a free trading account but won’t be able to execute trades without having made a real deposit. In terms of our coverage of demo accounts from top online brokers, Degiro falls short of the mark.
If you wish to find out more about alternative demo accounts from established online broker companies, then Betting.co.uk Finance has you covered. We’re always pushing to bring you the very best online trading platforms and offers within the UK trading industry. The latest eToro practice account and Spreadex demo trading account will help you gain a foothold and improve your trading confidence and ability to successfully open and close positions. There’s no need to hesitate when it comes to executing online trades. Nor is it necessary to sign up with a broker without giving their platform a run for its money. Not in this day and age!
Degiro Demo Account FAQ
❓Does Degiro have a demo account?
You’ll find that a wide number of online trading platforms have demo accounts available. These accounts can be used to test out the platform in question without having to fund your account with real money. As such, demo accounts are a great way of learning the ropes of online trading and gaining some confidence. In our latest coverage of this online broker, we’ll outline whether there is a Degiro demo trading account and if so, what the account entails. Finding a demo account that enables you to practice and craft an online trading strategy is the first step to realising success.
👉Why should I use a Degiro practice account?
Using a Degiro demo trading account is a great way of getting the hang of the online platform. If you have never engaged in online trading before, then we recommend you try out the Degiro demo account in order to find out how the platform functions. However, there’s many other reasons why you should try out the Degiro test account. Take a look at our latest coverage to find out why. At Betting.co.uk Finance, we strive to bring you impartial and relevant material on all trading-related topics within the UK.
💯Is a Degiro demo account free to use?
You’ll find that certain platforms might require you to pay a fee for signing up and accessing certain trading features. But, does this apply to the demo account on the respective platform? It shouldn’t. These accounts are usually free and put in place to help you without you having to incur any costs. To find out if this is the case, take a look at our latest coverage of the Degiro practice trading account. At Betting.co.uk Finance, we have gone to the utmost trouble to ensure that we bring you tailored information which gives you the necessary insights into online trading platforms and what they have to offer.
👀Can I trade all products when using the Degiro demo account?
You’ll certainly want to be able to access all trading products when making use of the real online trading platform. However, you won’t always be able to trade all options when using a demo account. In our latest analysis of the Degiro practice account, we’ll outline what kind of products you’ll be able to trade. This gives you a better idea of how the full platform works and whether it’s for you.
💥Is the Degiro demo account good?
Degiro is an established online trading platform. Although this is a good sign in terms of the full-scale trading platform, it doesn’t necessarily mean the Degiro practice account is on the same level. Certain trading platforms fail to offer a comprehensive demo account. Check out our analysis at Betting.co.uk Finance to find out more.