Online broker promises zero-cost share trading

Online securities broker Degiro is to launch a new zero-cost platform which will allow clients to buy and sell shares for free to further shake-up the stockbroking market across Europe.

The Dutch company which began operating here earlier this year is to launch www.Deziro.com into 20 countries across the world in the coming 12 months.

The latest platform goes a step further than its current offerings which allows investors to trade stocks listed on the Irish Stock Exchange for little over €2 and those listed in the UK for slightly more than €4.

Degiro has brought institutional-style fees to retail traders and investors, decreasing costs by 80%, the company claims.

Its latest move, which aims to generate profits from advertising alone, furthers its attempts to eradicate what it says are the extortionate fees for retail traders and the unfair institutional advantage they create.

“Two years ago we revolutionised trading across Europe with Degiro, cutting costs by 80% but this is not enough. We want to overhaul the online trading marketplace. For certain types of trading, there can and should be a zero-cost option,” said Degiro director, Gijs Nagel.

“While we’re starting with stocks, it is our firm belief that the no-fees, advertising-based model will play a major role in the future of trading. When the industry looks back in 10 years’ time, the idea of having ever paid for online trading will be preposterous — now is the time for change.”

Founded in 2008, Degiro first launched its online trading platform in 2013. It processes €30bn worth of transactions per year and expects to have €3bn in assets under administration by the end of the year.


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