Degiro: very dynamic in 2017; fees cut further
(CercleFinance.com) - Degiro, the Dutch broker which operates in 18 countries, including France, has won nearly 100,000 clients in 2017, which it finished with 246,190 accounts (+67%).
At the same time, the group announced a further cut in its trading fees for shares that are listed in Paris and Brussels.
Revenues followed this trend, soaring 55% to 41 million euros, with 14.7 million transactions executed (+51%). Private individuals represented 85% of these trades, while professional clients represent the remainder. Its accounts did not suffer from this - even though no details were provided. In a statement, Degiro reports that each quarter was profitable in 2017.
Positioned as a low-cost broker, Degiro boasts tariffs that on average are 80% lower than those charged by its competitors. It has already been the "cheapest broker in France since 2014," and intends to continue along these lines: as from today, 1 February 2018, it announces a further reduction in the pricing of orders for shares that are traded in Paris and Brussels. The former tariff (0.25 euro + 0.04% of the transaction amount per order) will be replaced by a single rate of just 0.04%, with no fixed costs.
For example, a 500 euro transaction in French shares at Degiro will therefore cost just 0.20 euro, representing an additional 50% reduction compared to the old pricing, said Julien Vallet, head of Degiro for France.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
At the same time, the group announced a further cut in its trading fees for shares that are listed in Paris and Brussels.
Revenues followed this trend, soaring 55% to 41 million euros, with 14.7 million transactions executed (+51%). Private individuals represented 85% of these trades, while professional clients represent the remainder. Its accounts did not suffer from this - even though no details were provided. In a statement, Degiro reports that each quarter was profitable in 2017.
Positioned as a low-cost broker, Degiro boasts tariffs that on average are 80% lower than those charged by its competitors. It has already been the "cheapest broker in France since 2014," and intends to continue along these lines: as from today, 1 February 2018, it announces a further reduction in the pricing of orders for shares that are traded in Paris and Brussels. The former tariff (0.25 euro + 0.04% of the transaction amount per order) will be replaced by a single rate of just 0.04%, with no fixed costs.
For example, a 500 euro transaction in French shares at Degiro will therefore cost just 0.20 euro, representing an additional 50% reduction compared to the old pricing, said Julien Vallet, head of Degiro for France.
Copyright (c) 2018 CercleFinance.com. All rights reserved.