Degiro Vs Revolut 2022: Which Is The Best One?

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By: Michael Restiano
Updated On: May 24, 2022
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This is the Degiro Vs Revolut comparison guide. Exchange trading is becoming more and more popular. The reason why people trade on exchanges is that you can make a lot of money by selling high and buying low. If you want to start trading, it makes sense to look for brokers that offer the lowest fees possible.

Degiro and Revolut are online platforms for trading stocks, currencies, ETFs, and other assets. They aren't banks but brokerage platforms that facilitate the trade of financial products.

What Is Degiro?

Degiro is a Dutch company that was founded in 2008 and offered extremely cheap trading fees. Degiro also offers its clients free-spending and transferring money, which makes it very attractive for consumers who trade stocks often.

Degiro doesn't have any branches or expensive headquarters; this saves the company a lot of money on rent and staff expenses. Since all of the staff members work remotely, Degiro can save even more money. This is a key advantage of Degiro, as many brokers in the fintech industry are more oriented toward the social trading model.

degiro

It has support on social media platforms like Facebook and Twitter, where it offers tips on trading to clients on a regular basis. The company also publishes an active blog on its site.

In addition to this, there is a trading academy offering several resources to help you get started. It is composed of articles, videos, webinars, and online courses about trading.

The information it provides allows you to learn the basics of technical analysis, candlestick charts, and other tools that can be used while investing in CFDs or cryptocurrencies.

Degiro is regulated by several authorities, including the Dutch AFM, BaFin, etc. This means it has the same standards as major brokers in Europe who have been working for several years. It has its head offices at Herengracht 458, 1017 CE Amsterdam, where a support team is located.

How To Create A Degiro Account?

  1. Visit the Degiro website and click Register in the top right corner of the page.
  2. Fill in your email address, username, password, country, and phone number, and click Sign up.
  3. Public Provident information if you are a resident of India or South Africa has to be entered.
  4. By going with the Facebook or Google options, sign-in is not required as your account will be automatically created.
  5. In order to use your account, you need to have an IBAN and a BIC code from Degiro for transferring funds from/to foreign accounts. However, there is no need for a SWIFT code as Degiro has its own payment system.
  6. In order to use the full features of the Trading Platform, you need a real IBAN and BIC code as well as an address outside the European Union.
  7. After signing up successfully, your account is available to log in with your password or via Facebook/Google accounts.
  8. Your account is now activated, and you can also see the 7-day free trial of the Degiro app for iPhone or Android.
  9. In order to use your account, a bank transfer from your local bank to Degiro's Euro bank account is required in order to activate your trading account.
  10. In order to start trading, you need to fund your account by transferring money from your local bank to Degiro's Euro bank account.
  11. In order to transfer money using a SEPA transaction, your personal IBAN and BIC code are required. This information can be found in the Summary tab of Degiro once logged into the Trading Platform.
  12. You can also deposit money using a credit card, but this will involve high fees. If you are non-European, make sure to select an option other than SEPA as your funding method, as you won't be able to use SEPA for the first bank transfer. Degiro is available in 18 European countries, including Germany, Hungary, Ireland, Norway, Poland, Spain, etc.
  13. Go to the Trading tab and look for your national currency (EUR in this case) on the right side of the screen. Click it, and you will see all the available markets with the option to create a limit or market order.
  14. If you are looking to buy cryptocurrencies, the maximum number of currencies available per market is 5. However, you can make a limit order on any cryptocurrency available on DEGIRO, provided it has a minimum volume traded of 500 Euros per day.
  15. Once you have placed a limit or market order, your orders will be displayed in the Orders tab and are fully trackable using the Trading Platform.
  16. Once your order is filled, you can see it in the Orders tab of Degiro's trading platform by selecting the appropriate symbol from the drop-down menu.
  17. In order to withdraw money from your account, go to Settings and select Withdraw funds. For security purposes, a second SMS code from your mobile will be required.
  18. In order to make sure funds are sent in the right direction, it is necessary to provide Degiro with several pieces of information before you can transfer money back to your local bank account (or credit card). This includes country, IBAN, and BIC code. You also need to select where the payment is coming from and the purpose of payment.
  19. Click Submit, and you will be provided with a unique reference number which you need to fill in your bank account or credit card information. Once submitted, funds should appear in your local bank account within 10 working days (longer for some banks).
  20. The maximum amount you can transfer is 100,000 Euros (or equivalent) per day. There are also transfer costs involved, which you need to consider before making the transaction.

How To Invest In Cryptocurrencies With Degiro?

  1. Open an account with Degiro and select "Crypto & CFD Trading" from the drop-down menu.
  2. Enter your information and click "Register."
  3. Fill in your ID details and take a selfie of yourself holding an ID document (driver's license, passport, etc.).
  4. You might be required to provide proof of address by uploading a phone bill or bank statement. 
  5. Ensure you read and agree with Degiro's Terms and Conditions.
  6. Review your details and click "Register."

What Are The Security Measures Of Degiro?

Degiro uses the most advanced security features available in order to keep your account safe. Transactions are secured with SSL encryption, two-factor authentication (2FA) is used for login purposes, and IP addresses are checked against blacklists.

Degiro monitors suspicious activity, and you can block or unblock yourself whenever you want. Before you can trade, you will need to pass a country and identity verification process (ID, proof of address, bank details).

You must provide your full name, date of birth, phone number, email address, postal address, ID document (passport or driver's license), proof of residence (bank statement or utility bill), and proof of bank account ownership (bank statement or a letter from your bank).

What Does The Degiro Platform Look Like?

Degiro's platform is extremely user-friendly and completely web-based, which means that you don't need to download any trading applications.

The design is very attractive and intuitively user-friendly. You can select markets from the drop-down menu and choose a stock to invest in by clicking on it. You will then be led through each step to complete your order. The platform is available in multiple languages, and all the available assets can be seen on the home page.

The screen is divided into four areas. The main area includes the product list, markets you can choose from, and an area where you will find all the information on a selected market, such as the last traded price or opening/closing hours.

degiro platform

The grey bar at the top is dedicated to quick access to some of Degiro's services, such as charts and account management. The grey area on the left side shows detailed information related to the product you are viewing. Finally, at the bottom of your screen, there are two buttons: one to add a market and another to remove it.

You can view either all assets or only those available for trading in your country. The number of assets you can view is shown at the top right of the screen. You can also view access information such as your username and password by clicking on the button that looks like a key.

Finally, you can find detailed information on Degiro's data security system (SSL encryption, two-factor authentication (2FA), IP checks) and their trade monitoring system (integration with Dutch market regulator AFM and ESMA).

What Are The Supported Countries Of Degiro?

Degiro is available in all European countries except for Ukraine, Belarus, and Russia. It offers an extensive list of assets, including equities, indices, ETFs, funds, futures, and several cryptocurrencies.

How Is The Customer Support Service Of Degiro?

Degiro's customer service is considered one of the best in the online brokerage industry. The broker has received a rating of 8.1 out of 10 from TrustPilot, a leading review site for financial products and services.

The brokers' support team can be contacted via telephone, fax, post, or email. Degiro also provides 24/7 telephone support.

How To Place An Order At Degiro?

  1. To place an order, log in to your Degiro account and choose "Trade" from the drop-down menu.
  2. Next, select the asset or market you wish to trade, enter the amount of money you want to invest, and define price limits for buying or selling.
  3. By clicking on "+ Order," you can set up new orders. For instance, if you want to set up a stop-loss order, choose "stop-loss" in the drop-down menu and enter your desired price level.
  4. To close an open position, simply click on "+close" in the appropriate field.

What Are The Most Popular Assets At Degiro?

The portfolio of Degiro contains a wide range of commodities, indices, forex pairs, and CFDs. While index options remain one of the most popular investment tools used by Degiro clients, options on commodities, currencies, and shares are also in high demand.

The broker's list of available assets includes commodities such as gold, silver, oil, natural gas, and coffee, as well as currency pairs such as USD/EUR, GBP/USD, and AUD/USD.

Further asset classes on the broker's platform include stocks from all over the world (for example, Apple Inc., Facebook, and Alibaba Group Holding Limited) as well as ETFs (Exchange Traded Funds) for trading indices.

Who Should Use Degiro?

If you are looking for an online broker with very low trading and investment costs, Degiro is a great choice. The broker also stands out due to the availability of different account types for various categories of investors (for instance, active traders or high net worth individuals).

Degiro is an ideal choice if you are interested in trading with CFDs and/or forex. However, if you are looking for a broker who offers a wide range of investment tools and competitive prices across all asset classes, Degiro might not be the best choice.

How To Use Degiro?

To get started with Degiro, you need to do the following:

  1. Open an account by providing basic identification documents (for instance, your personal details and proof of address).
  2. Link your account to a bank account where you can transfer funds for trading purposes.
  3. Use your Degiro account to make online payments and manage your money.
  4. For more features, verify your account by uploading identification documents (for instance, a copy of an ID card or passport). While this is not compulsory, it allows you to access higher withdrawal limits and enables you to benefit from interest on your savings.

What Is Revolut?

Revolut was founded in early 2015 and also offers relatively low trading fees. The brokerage platform has no branches or expensive headquarters either, which makes it very efficient, just like Degiro. However, unlike Degiro, Revolut only offers the Revolut MasterCard.

Revolut is the new online banking application that has revolutionized how people use money. It is similar to PayPal in allowing users to transfer funds around the world at the touch of a button, but Revolut also allows more than just transfers.

Revolut fees are among some of the cheapest you'll find on any budgeting platform, and Revolut card payments are accepted by more than 36 million traders, a number that is growing all the time.

Revolut has been expanding rapidly since it was first founded in 2015 and has been widely acclaimed as one of the fastest-growing fintech companies in the UK.

Revolut serves nearly 2 million customers worldwide and continues to grow as it attracts more Revolut users every day. Revolut is only seven years old but has already become a household name in the finance industry, revolutionizing how people use their money all over the world.

The Revolut cards are prepaid Mastercards that can be used to make payments or even cash withdrawals at ATMs worldwide. Revolut's fee-free budgeting also makes Revolut one of the cheapest places to use your money, with some of the lowest fees around. Revolut is a Revolut card, Revolut account, and Revolut app all rolled into one.

Revolut is a much more secure way of managing your money, especially compared to outdated banking methods. Revolut allows users to create highly customizable budgets, schedules, and alerts, so you always know exactly how much you have available in Revolut.

How To Create A Revolut Account Online?

  1. Go to the Revolut Website and click "Get Started."
  2. Click "Join Now."
  3. Fill in your name, phone number, date of birth, email address, and password (6 characters min).
  4. Enter your postal code, select gender, upload a profile photo (optional), and click "Continue."
  5. Verify your account via the link sent in the email and select either the UK, EU, or Custom as the currency you want Revolut to operate in.
  6. Enter your address and create a security question and answer (optional).
  7. Confirm that you've read and agree to Revolut's Terms and Conditions and Privacy Policy.
  8. Click "Continue" to be directed to your dashboard and choose a plan (it is free to open an account in the Basic Plan).
  9. Enter your card details, add your bank account details or link Revolut with Apple Pay or Google Pay. You can also add a MasterCard or VISA.
  10. Use the web app to get your unique Revolut card number and security details if you want to order a physical card (a $15 fee applies). Your plastic card will arrive in 7-10 days.
  11. Click "Continue".
  12. Review your information and fill in your ID info. Click "Continue" to be asked for your selfie picture. Review your details once more and click "Confirm."

How To Invest In Cryptocurrencies With Revolut?

  1. Go to the website and open an account ( Basic Free ).
  2. Follow the prompts and enter your name, date of birth, phone number, and email.
  3. Agree to the terms and conditions.
  4. Set your security questions if you want to keep your account safe (optional).
  5. Input your payment details, including bank account number, sort code, and card number.
  6. Verify yourself via SMS or call (a mobile phone will be required for this) and check your email for a confirmation letter.
  7. Add a payment card.
  8. Once confirmed as a user, you can add one of the three virtual Revolut cards (£5 each) or order a physical card (£15).

What Are The Security Measures Of Revolut?

Revolut uses bank-grade security to ensure the safety of your account. Your password is encrypted with AES-256 and securely stored on our servers, and two-factor authentication (2FA) is used for login purposes.

You can withdraw funds up to £1000 without having to verify your identity. Once you reach this limit, you will have to go through a country and ID verification process (ID, proof of address, bank details).

You must provide your full name, date of birth, phone number, email address, postal address, ID document (passport or driver's license), proof of residence (bank statement or utility bill), and proof of bank account ownership (bank statement or a letter from your bank).

Revolut's security is constantly tested by independent, reputed organizations. You can see Revolut's score on the following report cards :

  • ThreatMetrix: A+ 
  • SSL Labs: A 
  • Geotrust: A+ 
  • WebInspect: A+  
  • Web sec: A—

You can also read an audit report about the security of Revolut's IT infrastructure. Finally, in case you still have any doubts, your money is protected by a £10,000,000 guarantee provided by The Financial Services Compensation Scheme (FSCS).

This means that if Revolut goes bankrupt or becomes insolvent, you are insured and will be able to recover up to £10,000.

What Does Revolut's Platform Look Like?

Revolut's trading app combines simplicity with high-tech features. You can use it as a complete trading platform as well as a simple wallet.

You can view the buy and sell prices of 36 different assets, including FX currencies, ETFs, cryptocurrencies, indices, and commodities. You can also use it to transfer money through the Exchange section of the app or between two Revolut users.

Finally, you can use it with the multi-currency Revolut card to manage your expenses in multiple currencies with zero fees. The screen is divided into five areas. The upper area contains the list of markets, ETFs, and cryptocurrencies available for trading on Revolut's platform.

revolut platform

The main area includes the most important information about your order (exchange rate type (market or limit), amount, currency). You can also set up a pending order by clicking on the button that looks like an alarm clock.

The grey area on the right includes information about the order (volume, price, percentage change) and trading fees. Lastly, the bottom two buttons allow you to place a market or limit order.

You can view either all assets available for trading in your country or only those that are accessible via Revolut's app. The number of assets you can view is shown at the top right of your screen.

You can also access detailed information on Revolut's data security system (SSL encryption and 2FA), as well as its anti-money laundering policy and safety measures.

What Are The Supported Countries Of Revolut?

Revolut is available in all European countries except for Ukraine, Belarus, and Russia. You can also use it in Australia, New Zealand (for Kiwis only), most African countries (except for Algeria, Tunisia, and Morocco), Canada, Israel, Japan, South Korea, Malaysia, Singapore (for Malaysians only), USA-except for Puerto Rico, American Samoa and Guam), Barbados, Turkey. You can use a multi-currency card regardless of your country of residence.

In addition to GBP, you can choose from USD, Euro, and soon Japanese Yen. You can also connect your Revolut account to a bank account in order to get paid directly into your Revolut account.

How Is The Customer Support Service Of Revolut?

Even though Revolut doesn't rank very high in the comparison table, the broker is still appreciated for offering a wide range of easily accessible customer support features.

The broker can be contacted via email and Facebook Messenger as well as via telephone and fax. According to Trustpilot reviews, which give a rating of 8 out of 10 to Revolut, the broker's customer support reps are friendly and helpful.

What Are The Most Popular Assets At Revolut?

Due to its position in the comparison table, it is evident that you can trade with Revolut on a limited range of assets. The broker's portfolio, however, is considered diverse and provides clients with a wide range of investment tools.

The list of available assets includes indices such as NASDAQ and FTSE 100, as well as forex pairs such as EUR/USD and USD/JPY.

You can also trade stocks from all over the world, but they are relatively expensive when compared to the competition. In addition, clients can take advantage of CFDs on indices and currencies as well as ETFs for trading indices.

How To Place An Order At Revolut?

  1. Log in to your Revolut account and choose "Trade" from the drop-down menu.
  2. Next, select the asset you wish to trade, enter the number of units you want to buy or sell and define limits for buying or selling at the desired price level.
  3. By clicking "+ Order," you can set up new orders. For instance, if you want to set up a stop-loss order, choose "stop-loss" in the drop-down menu and enter your desired price level.
  4. To close an open position, simply click on "+close" in the appropriate field.

Who Should Use Revolut?

Revolut is an ideal choice for beginners or occasional investors. While the broker does not offer a wide range of trading tools, it provides clients with all the basic functionalities for managing a portfolio.

In addition, beginners can take advantage of various educational materials and interactive apps the broker has designed to help them grow their own skills in investing.

How To Use Revolut?

To get started with Revolut, you need to do the following:

  1. Download and install the app on your phone.
  2. Open an account by linking your existing debit or credit card (Visa, MasterCard, or Maestro). You can also apply for a prepaid card that comes with a cashback system.
  3. Use your Revolut account to make online payments and manage your money. You can also download the app on a second device (for instance, a tablet or desktop).
  4. For more features, verify your account by uploading identification documents. While this is not compulsory, it allows you to access higher withdrawal limits and enables you to benefit from interest on your savings.

What Types Of Orders Do Degiro And Revolut Offer?

Degiro offers to market, limit, stop loss, and take profit orders for equities. It also allows you to place conditional orders such as spreads.

Market Order: 

You place a market order either by choosing the "market" option on the right of an asset's name or entering it directly in the field provided.

A market order is executed at the current market price. The buying/selling happens instantly, and you incur slippage if there are no prices available at your desired price level.

For example, if you place a market order to buy 100 shares of Apple Inc. at $150 and there are no prices higher than that, your order will be executed at 170-175 US Dollars per share as the market price. In this case, you would have incurred a slippage of 15-20 dollars per share.

Limit Order: 

A limit order is executed at the set price or lower. To place a limit order, you can choose the "limit" option on the right of an asset's name in the search bar. You need to enter both the quantity and price of your desired order.

For example, if you wish to buy 100 shares of Apple Inc. priced at $150 but don't want to spend more than $140, you would enter 100 and 139. This means that your order will be executed as soon as the price of Apple Inc. reaches $139 or lower.

Take Profit Order: 

You can also place a take-profit order by choosing the "take profit" option on the right of an asset's name in the search bar. This type of order is used to automatically close a trade once it reaches a specific price.

If you hold a long position on Apple Inc. and wish to take profit at $160, you could set the take profit price to 160, and your order would be executed as soon as Apple reaches $160 or any higher price.

Stop Loss: 

To set a stop loss, you need to choose the "stop-loss" option on the right of an asset's name in the search bar. This type of order is used to automatically close a trade once it reaches a specific price.

The difference between this and take profit order is that take profit order closes your trade at a price you've entered while stop loss closes your trade at a price predetermined by Degiro.

For example, if you hold a long position on Apple Inc. and wish to automatically close your trade if it drops to $145, you should enter 145 as the stop-loss price. You can set both stop-loss and take profit for the same order.

Stop-Limit Order: 

You can also set a stop-limit order by choosing the "stop-limit" option on the right of an asset's name in the search bar. This type of order is used to automatically close a trade once it reaches a specific price.

The difference between this and a stop-loss order is that you are allowed to choose whether your trade should be closed at market price or at a predetermined limit price.

For example, if you hold a long position on Apple Inc. and wish to automatically close your trade if it reaches $160-165 but want to set the limit price, you should enter 160 as the stop-limit rate while leaving 165 in the field provided for taking profit rate.

Out-Of-Hours Orders: 

You can also place an out-of-hours order by choosing the "out of hours" option on the right of an asset's name in the search bar. You can open a position during trading hours while simultaneously closing it at some point outside trading hours.

For example, if you hold a long position on Apple Inc. and wish to close it at 9:00 PM, you should choose an out-of-hours option and set both the buying price and selling price as 0.

How Are Degiro And Revolut Similar?

Advanced Tools:

Degiro and Revolut offer a wide range of advanced tools for efficient order execution. Advanced Tools means that you can use automated tools like trailing stops and iceberg orders, view your order history and track your open positions.

Types Of Orders:

Both brokers provide clients with the option to use market, limit, or stop-loss orders. In addition, they offer one-click trading that allows you to set up an order immediately with a single click (for instance, placing a buy order on a selected asset at the best available price).

Charting Tools:

Both brokers provide clients with advanced charting tools to help them analyze their trading performance and predict future market trends.

How Are Degiro And Revolut Different?

Account Types:

Revolut offers one account type with basic features, while Degiro provides clients with a choice of four different accounts. The most popular trading account is the "Standard" package which charges 0.12% p.a. on stock-trading commissions (capped at €20 p.a.)

Minimum Deposit:

Revolut offers clients the option to start trading with €10, while Degiro requires a minimum initial investment of €2,000. This is an important factor if you are new to investing in the stock market and want to test your money-making skills before investing a large sum of money.

Currency Support:

Degiro does not support more than one currency. In order to use the broker's services, you will need access to a bank account that allows you to transfer funds in Euro from/to your Degiro account. In contrast, Revolut provides its clients with a multi-currency account.

revolut vs degiro

Ease Of Use:

Both brokers offer clients the option to use their platforms in English, German, Spanish, and Dutch. However, Revolut provides its services via a mobile app that is available for Android and iOS devices (as well as desktops). On the other hand, Degiro uses web-based trading software. As a result, the broker does not offer a mobile app.

Deposit And Withdrawal:

Degiro clients can make deposits and withdrawals only via bank transfer (SEPA). Revolut offers several different deposit and withdrawal methods to suit your preferences (for instance, you can link your account to PayPal or ApplePay – instead of using your bank account).

Now that we have learned about both the brokers let us understand what brokers are and how they work.

What Are Online Brokers?

Online brokers, also known as discount brokers or trading platforms, allow you to buy and sell financial products such as equities and bonds without visiting a branch. In addition, online brokers provide clients with a platform to access a broad range of markets from anywhere at any time.

What Is The Role Of An Online Broker?

In contrast to traditional brokerage firms, online brokers do not offer financial advice. As such, they only aim to provide their clients with the best available prices for trades that can be carried out directly on a trading platform or via an app.

How Does An Online Broker Work?

Online brokers charge clients directly for each trade. As a result, they do not require you to hold an account with them. Instead, investors are provided with their own trading accounts and can use the broker's platform or app for placing trades (which is far cheaper than working through a human broker).

While online brokers offer affordable prices and many advanced features, there are several factors to consider before working with a particular broker.

What Should You Look For When Comparing Brokers?

Before choosing a broker, it is important to understand whether or not they suit your trading needs. For instance, if you want to invest in forex and cryptocurrencies – you will need a web-based platform instead of a mobile app. In addition, you should consider the following factors:

Deposit And Withdrawal Fees:

You will need to pay a fee for depositing funds into your account and withdrawing them. Since online brokers do not provide financial advice, they charge lower commissions than traditional brokers (which is why it makes sense to work with an online broker).

Minimum Deposit:

Most online brokers require a certain minimum initial investment. This means that you need to deposit a certain amount of money before their platform becomes available for use.

Account Opening:

Before choosing a particular broker, it is important to see how much information they require and what conditions must be met in order to open an account.

Types Of Orders:

You should also consider how much flexibility you have when placing orders. Oftentimes, online brokers provide several kinds of order types (for instance, market, limit, stop-loss, etc.).

Security:

It is important that your account is protected and that the broker uses advanced security technologies such as two-step authentication (which requires you to enter a code for each login).

Regulation:

In addition, some brokers might be regulated by local authorities. This means that they must comply with particular requirements.

Customer Support:

Most brokers provide clients with a variety of customer support options (for instance, email and phone). It is important that your broker provides good and responsive customer service. For instance, if you want to withdraw funds – it might be necessary to contact the broker's customer service department for assistance.

Education And Research:

Consider the educational resources that are available to you. These include webinars, articles, and videos on investing strategies. You might also want to look for an auto-trading feature (which is convenient for beginners).

Advanced Tools:

You should also consider the availability of advanced tools for technical analysis. These allow you to make informed trading decisions based on various market indicators.

Conclusion:

As you can see, there are several factors to take into account when comparing online brokers. While it is possible to do this task manually – it might be best to use special software known as an Online Broker Rating Tool.

With the help of such a tool, you can easily compare all of the most popular online brokerages and select the one that is most suitable for your particular needs.

In short, Degiro and Revolut are two of the most reputable online brokers on the market. Degiro is known for its low fees, while Revolut gives you access to cryptocurrencies.

Among other things, both brokers offer unlimited withdrawals and free tools that can help you improve your trading performance. While Degiro has flexible conditions - Revolut allows investing in stocks commission-free.

This is why, in order to find out which broker is more suitable for you – it might be best to use an Online Broker Rating Tool. Therefore, if you are looking for a way to compare brokers and select the one that will suit your needs.