Degiro broker

J_murphy

Hi Guys,

I have an account with Degiro, and i recently started seeing a strange issue with their website. that is my total profit and loss is lower 20 to 30 % than my actual profit and loss.

how do i get the actual total profit and loss? I just sum the PnL of individual positions.

I called them twice. and every time I call they say we will fix it and they do fix it while I am on the phone. then in a week time it happens again.

This is terrifying for me. what advice can you give me?

this was easy to spot because i dont trade , i invest . so my portfolio doesnt change frequently.

has anyone else noticed that?

I am curious to hear from you guys

bowlhead99

Why is it terrifying? Presumably if you don't trade very often and you know what you hold, and they show you the correct value for what each of your total assets are worth  and what cash you have, and you don't disagree with the P&L shown for individual items... then it doesn't really matter what total profit or loss they say you have made across time?

EdGasketTheSecond

Low fees = poor service; what else did you expect? If you are 'terrified' get your money out and invest somewhere else asap.

tropic_of_Username013

Do you have a "Custody" account, or a non-"Custody" account, with Degiro? Not having a "Custody" account would be a better reason to be terrified.

cragside

tropic_of_Username013 said:

Do you have a "Custody" account, or a non-"Custody" account, with Degiro? Not having a "Custody" account would be a better reason to be terrified.

Can you elaborate on this please?  I was wondering whether to sign up.

tropic_of_Username019

cragside said:

tropic_of_Username013 said:

Do you have a "Custody" account, or a non-"Custody" account, with Degiro? Not having a "Custody" account would be a better reason to be terrified.

Can you elaborate on this please?  I was wondering whether to sign up.

The terms & conditions for Degiro's accounts, except for the "Custody" account, allow them to lend out your shares (and keep the fees generated by doing this for themselves). This introduces an extra kind of risk (that the shares will not be returned, and that the collateral provided by the borrower won't be sufficient to cover the loss, and that Degiro themselves won't then be able to honour their promise to make good any resulting loss). This is probably a small risk, but it's a kind of risk which you don't have to worry about with most UK brokers/platforms, because their terms don't include similar provisions.

cragside

Thanks, that sounds dodgy.  Not sure what would happen after Brexit kicks in next year either.

Thrugelmir

cragside said:

Thanks, that sounds dodgy.  Not sure what would happen after Brexit kicks in next year either.

Perfectly legal. A risk that many would wish to avoid though. 

Sebo027

Does anyone have any thoughts / experience using Saxobank as an investment platform? 

Alexland

Brido88 said:

Does anyone have any thoughts / experience using Saxobank as an investment platform? 

If they are so keen to promote CFD trading they obviously have little respect for their customers. Wouldn't touch them (or a similar) with a barge pole.

Albermarle

Does anyone have any thoughts / experience using Saxobank as an investment platform? 

Seems to be a trading/gambling platform rather than an investment one ( normally on this forum investment means long term ) 

If they are so keen to promote CFD trading they obviously have little respect for their customers.

I was surprised to find out recently that HL offer trading in CFD's and spread betting. I would have thought a mainstream retail investment platform would steer clear of such activities?