DEGIRO has become a trusted brand in the financial market. A group of ex-Binck Bank employees established the company in 2008; online brokerage services were first made available in 2013. It is now one of the largest retail stockbrokers in Europe. De giro broker headquartered in the Netherlands, has expanded its online trading platform to 18 European countries, with over 2 million accounts.

DEGIRO Pros and Cons 

DEGIRO is the best discount broker because it offers the lowest fees across the board, for any market instrument. DEGIRO does not impose fees for withdrawals, deposits, or inactivity, unlike the majority of brokers. The process of creating an account is straightforward, as is using the trading platform once you’ve logged in.

DEGIRO is authorized to do business in Europe by a number of the continent’s most prestigious financial regulators. Which means that the investors’ money is safe. There’s a good reason why DEGIRO has over 600,000 satisfied customers just a few years after launching its online brokerage services for retail investors.

DEGIRO’s clients can trade or invest on more than 50 international stock exchanges, despite the company’s limited asset portfolio. However, major assets like Forex and CFDs are not included. DEGIRO is unique among trading platforms in that it does not provide practice accounts for novice traders. The lack of instantaneous access to market prices is the biggest problem. There has been a 15-minute delay in pricing. Traders must pay a yearly fee to gain access to real-time market prices.

Bank transfers are the only form of payment accepted by DAGIRO. As an added downside, its platforms’ research tools are underdeveloped and lack superior analytic capabilities.

Regulation and Licensing

It’s impressive how far along the regulatory path DEGIRO is. DEGIRO has a banking license despite being a private company thanks to a merger with Flatex AG in 2021. Given its status as a financial institution, DEGIRO is subject to regulation from both the European Central Bank and the German Federal Financial Supervisory Authority (BaFin).

In addition, their business practices and financial stability are under constant surveillance by the Dutch Central Bank (DNB) and the Netherlands Authority for Financial Markets (AFM). It also has the backing of the UK’s Financial Conduct Authority (FCA).

In order to protect investors from fraud and scams perpetrated by brokers, strict regulations and licensing requirements are essential. In order to obtain a license from the proper authority, brokers must satisfy certain requirements.

Best Paper Trading Apps: Reviewed

Paper trading apps allow you to buy and sell assets completely risk-free. You will be trading using your chosen broker’s demo account. This guide will go over the best paper trading app of 2022. We will compare and contrast the features, fees, security, and availability of each service provider in our panel.

EToro – Overall Best Paper Trading App

eToro is, in our opinion, the best paper trading app on the market. This paper stock trading app is free to download and compatible with iOS and Android devices. All you have to do to start is open an account, and you will be given a $100,000 paper trading balance.

This is enough to teach you the ins and outs of online trading. Most asset classes are available for trading on eToro. Direct ownership options include shares, ETFs, and cryptocurrencies. You can also trade CFDs on eToro if you prefer more speculative, short-term trading strategies. This includes many of the most prominent financial instruments, including stocks, indices, digital currencies, and forex, commodities, and interest rates.

AvaTrade – Best Options Paper Trading App

Options were only recently made accessible to the average trader. This is because they are advanced forms of financial investment appropriate only for seasoned traders. However, you can study options contracts thoroughly without jeopardizing any real money by employing a paper trading app, such as AvaTrade.

The application, in particular, provides access to forex and gold options. This is an excellent way to gain exposure to your target market in a low-risk, high-reward scenario. You can easily trade calls, puts, and spots and use combination strategies.

Regarding the latter, we like how the AvaTrade platform automatically reduces spreads when you trade options using a combination strategy. This also means that the app is suitable for hedging, as your trading costs are kept to a bare minimum. The AvaTrade app is also notable for its risk management tools. Many market orders are available, portfolios can be simulated, and even small bets can be placed.