What Countries is DEGIRO Available?
Dive into where DEGIRO operates, the rigorous standards it adheres to in Europe, and why it has temporarily halted services in the UK.
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Summary: DEGIRO, a leading European brokerage, operates in over 30 countries within the European Economic Area, ensuring adherence to strict regulations from major bodies like Germany's BaFin and the Netherlands' DNB and AFM.
Currently, DEGIRO has paused its services in the UK due to regulatory challenges with the Financial Conduct Authority (FCA), and there is no timeline for resumption of services in that region. For those seeking alternatives in the UK, eToro offers a robust platform with a wide array of assets and a substantial global user base.
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What Countries Is DEGIRO Available in?
DEGIRO offers its services across over 30 countries within the European Economic Area (EEA), including significant markets like Germany, France, the Netherlands, and Italy. This well-known European brokerage, part of the FlatexDegiro group, has expanded extensively across Europe to cater to a diverse client base.
Despite its wide reach, DEGIRO operates under strict and localized regulatory compliance, holding licenses from Germany's BaFin, the Netherlands' DNB (De Nederlandsche Bank), and AFM (Authority for the Financial Markets). This ensures that DEGIRO maintains high standards of financial integrity and consumer protection across its operational regions.
Will DEGIRO Expand to the UK?
DEGIRO has recently suspended new account openings in the UK indefinitely due to unspecified regulatory challenges. Originally catering primarily to Dutch investors, the brokerage expanded its services but has encountered difficulties with UK regulations by the Financial Conduct Authority (FCA). This halt underlines the complex regulatory landscape DEGIRO navigates as it grows.
DEGIRO has not provided any timeline for resuming services in the United Kingdom as they are still in the process of working through the rigid regulatory regime of the FCA.
DEGIRO Regulation and Licenses
DEGIRO operates mainly under European regulations, with oversight from Germany's BaFin and the Netherlands' DNB and AFM. The DEGIRO branch in the UK is a part of FlatexDEGIRO but lacks direct authorization from the UK's Financial Conduct Authority (FCA).
For investors in the UK, this setup means they are not covered by FCA regulations or the UK Financial Services Compensation Scheme. Instead, their accounts are subject to German and Dutch regulations that govern FlatexDEGIRO Bank AG. For detailed information, potential clients should review DEGIRO's official disclosures, which have been ratified under the Financial Services Market Act 2000 (FSMA) by Resolution Compliance Limited.
What is the Best DEGIRO Alternative?
If you're searching for a strong trading platform other than DEGIRO, particularly in the UK where DEGIRO has temporarily stopped accepting new clients, consider eToro. eToro is a global trading platform that provides access to a wide variety of over 3,000 assets and has a user base of more than 30 million investors worldwide. It features an easy-to-use interface and offers a broad selection of investment options, making eToro a great choice for those in need of a dependable and extensive trading service as an alternative to DEGIRO.
Bottom Line
In summary, DEGIRO operates in over 30 EEA countries, including key markets like Germany, France, and the Netherlands, adhering to strict regulations from Germany's BaFin and the Netherlands' DNB and AFM. Currently, DEGIRO has paused its UK expansion due to regulatory issues with the Financial Conduct Authority (FCA), lacking necessary authorizations. For complete transparency and adherence to high standards, DEGIRO’s detailed disclosures are available under the Financial Services Market Act 2000.