Choosing an online broker is one of the most important decisions you will have to make because it can mean the difference between profit and loss. In your search for the perfect broker, Degiro and Flatex are likely to be the two names you come about. The problem will then be choosing between the two of them, and we hope this review helps your decision.
Degiro has been around since 2013 after the company began to include retail traders after years of working with professional traders. That should already give you confidence in working with the company, but there are already some worthy competitors like Flatex. Flatex was launched in 2006 around the time when retail online trading was growing, and since then the company has become very popular.
In order to choose between the two, therefore, you must look at each company’s services separately and determine the best one for you.
Platform ease of use
Degiro uses its own proprietary trading platform that has been developed over the years. The platform has already been recognized by Barrons Magazine as the top trading platform for a decade between 2005 and 2015, indicating that the platform is truly exceptional. The app is already available on both iOS and Android for traders on the move.
Meanwhile, Flatex uses two different trading platforms – WebFiliale and Guidants. WebFiliale is available for download and as a web trader and it allows traders to access the financial markets with powerful trading tools to enable market analysis. Guidants is an alternative that allows you to analyze the markets and make proper trading decisions. On mobile, traders can download the Flatex app on both iOS and Android, making it available for trading on the go.
Winner is Degiro for having an award-winning platform.
Fees
Every trade on Degiro is charged a flat fee and an additional commission, and these fees vary depending on the asset in question. Nevertheless, trading fees on Degiro are only negligible because the charges are so low, especially considering the wide access to financial markets. On the other hand, trading fees on Flatex can be quite high since the broker only charges flat fees. For example, trading about 10 shares on US stocks on Degiro will cost about $1 while Flatex would charge over $15.
Winner is Degiro for having lower fees.
Markets available
Degiro is present in 18 European countries, but through its partnerships clients are able to access most global markets in Europe, America, Asia and Australia. Some of the markets you can trade with this broker include stocks, futures, ETFs, options, bonds and leveraged products. This is a very impressive list of products. On the other hand, Flatex mainly offers German securities, with few options in the US, Canada, Austrian and Switzerland financial markets.
Winner is Degiro.
Deposit methods
Degiro
- Bank transfers in GBP
- Electronic wallets
Flatex
- Bank transfer in EUR
Winner is Degiro
Unique features
As far as we can tell, Flatex does not have any unique features to brag about other than its basic services. Degiro, however, boasts of having over 400,000 clients around the world, which is quite an achievement for a company founded in 2013. In addition, Degiro has received a lot of awards for the quality of its services, and this is something worth considering.
Winner is Degiro.
