Gijs Nagel, DEGIRO
"It's not that our fees are low, but that those of our competitors are too high! We believe this approach has fuelled our success and growth across Europe to date."
London - The company said that for the first time UK retail investors will be able to trade a broad range of financial products at the same cost as institutional investors. The fully regulated platform - which covers stocks, futures, options, investment funds, ETFs, rights, bonds, leveraged products and CFDs - charges fees claimed to be on average 84 per cent lower than those of competitors. The move aims to end hidden costs in the UK retail market, as well as the gap between retail and institutional investors.
DEGIRO, which treats European retail investors as one large institutional investor, said it can provide customers with transparent access to institutional rates thanks to its technology and cost-focused approach. The firm has built its systems from the ground-up over the last seven years with the resulting efficiencies translating directly into lower fees. DEGIRO also avoids unnecessary add-ons, such as analysis and advice which are already available for free elsewhere.
DEGIRO provides 100% segregation of assets, meaning that there is no risk for clients if the company defaults.
Gijs Nagel, director at DEGIRO, says "The discrepancy in market access between retail and institutional investors is completely unnecessary and nothing short of a scandal. At DEGIRO it is our mission to rectify this. The way we see it: it's not that our fees are low, but that those of our competitors are too high! We believe this approach has fuelled our success and growth across Europe to date. All of our progress has culminated in this point, and the UK is a natural next step for us. We're excited to be launching in Europe's financial heart and we look forward to liberating UK investors from the hidden costs that have plagued them for so long."