WikiFX

Reply

Having traded with a variety of brokers over the years, I approach all potential platforms with caution, and DEGIRO is no exception. The most pressing concern for me is the lack of clear regulatory oversight. WikiFX flags DEGIRO as operating with a suspicious or unverified license and rates its regulatory index at 0.00 out of 10—a fact that cannot be ignored. The absence of robust regulation can put clients’ funds at risk since there’s limited recourse if issues arise. In my own experience, regulatory backing is what guarantees transparency and, ultimately, a safety net in case of disputes, insolvency, or misconduct. Additionally, I noticed DEGIRO does not support popular forex trading software like MT4 or MT5, which limits the flexibility and customization many advanced traders, myself included, require for strategy execution. Payment methods are also limited strictly to bank transfers, and withdrawals can only be processed for uninvested cash—not currently invested funds—introducing rigidity and possible inconvenience when managing liquidity. While I respect DEGIRO’s attractive low fees and its range of investment products, these benefits are outweighed by the clear risks, especially for those of us who prioritize safety and regulatory security above all else. I would advise anyone, particularly those managing significant capital or relying on complex strategies, to carefully consider whether such tradeoffs align with their overall risk tolerance and trading priorities.