Using DeGiro

https://www.boards.ie/discussion/comment/117743318#Comment_117743318

It's front and back of Drivers Licence not your passport 😁

https://www.boards.ie/discussion/comment/117720116#Comment_117720116

Extended hours from 07:00 to 21:00 covers all the US and Europe. It's pretty extensive, but I think they've aborted it again. I emailed them a few days ago about it, but haven't heard anything back from them.

Nuttzz

https://www.boards.ie/discussion/comment/117743607#Comment_117743607

The screen says upload your passport, it fails with th driving licence as well. Might just have to look elsewhere

busunderer

my advice is do not use Degiro and here is why..

I opened an account a few years ago and supplied my passport and other requested documentation, everything was fine, I traded.

After a few years my account was locked from Trading because my previously valid passport had expired!

Passport office was closed for a long time due to COVID and Degiro would not allow me to access trade or use my funds without a current passport.

I had satisfied them day 1 as to my identity and nowhere did the T&C's state that I had to maintain an in date passport.

I have lost out financially on a lot of trades during my lock out.

I am exploring my legal options.

https://www.boards.ie/discussion/comment/117743611#Comment_117743611

Update on this - clarification received. The Out of Hours only works for shares you have bought through that particular exchange, so to trade Out of Hours you need to buy all your stocks through that more expensive method or... just go with Interactive Brokers 🙄

The other thing is that it doesn't cover all the companies. So, two Mehs from me.

the explorer

I am currently using auto fx, if I want to change to manual is the best thing to sell my USD positions, convert the euro proceeds to dollars manually and then buy back the positions? Is it quick enough to do this? The amounts involved would be enough to negate the €10 charge for the manual currency conversion. Thanks

VonLuck

What do I need to know about buying shares on the ISEQ on DeGiro? At the moment if I search for a company it says the following:

"No realtime data available for this exchange; trading is supported. Your orders will be sent to the exchange directly"

Does this mean that you can buy shares, but will not be able to monitor its performance on DeGiro, or is this just a temporary lack of realtime information?

cc87

https://www.boards.ie/discussion/comment/117858028#Comment_117858028

You can buy shares and monitor it's day to day performance but not view it's current price while the market is open.

Shedite27

https://www.boards.ie/discussion/comment/117858312#Comment_117858312

Yeah I think the price/value only gets updated at the end of each day.

VonLuck

https://www.boards.ie/discussion/comment/117858312#Comment_117858312

So effectively you have to check the current price elsewhere before purchasing shares? Not a big deal I guess, but just a little bit awkward.

One More Toy

Use Yahoo finance to get the latest price and it'll give you an idea of what your limit order should be to get filled

dotsman

Which begs the question - why buy shares on the iseq (and pay extra fees and tax for the privilege) when you have access to far better exchanges (that have greatly outperformed the iseq) offering far better range of companies to invest in?

VonLuck

https://www.boards.ie/discussion/comment/117861574#Comment_117861574

Personally, it's down to local knowledge. I'm far more likely to know how the construction industry is performing in Ireland rather than the US so would be more comfortable investing in that industry here.

https://www.boards.ie/discussion/comment/117861574#Comment_117861574

There's currency risk, but I'd still much prefer to trade other stocks. I don't see much or anything of interest on the ISEQ. Bit of a Zombie exchange.

https://www.boards.ie/discussion/comment/117861756#Comment_117861756

That's where research comes in. You shouldn't trade any stock without knowing the specifics of the company.

But, take CRH (construction industry) for example. You can trade it on the IQEQ or the LSE with higher volume, cheaper transaction costs, but with currency risk. I'd go with the LSE every time.

VonLuck

https://www.boards.ie/discussion/comment/117862252#Comment_117862252

That's my point. You've less research to do because you likely know the company. You are also more attuned to issues in that industry locally e.g. a housing crash.

CRH wouldn't be an example I'd use as they operate heavily internationally.

https://www.boards.ie/discussion/comment/117862401#Comment_117862401

Less research to do wouldn't be the best strategic plan, imo.

dotsman

TBH, I don't know what "local" knowledge there is to be had. Pretty much anything on the ISQ (as mentioned earlier - a zombie exchange), while Irish owned, if it's going anywhere will get most of its profits from international trade. But, as a relatively small company, will have little to nothing written about it from an investor perspective online. Basically, for any company you are looking to invest in, type in the name of the company into google, followed by "share price", and then hit the news tab. If you are not getting flooded with results from the past few hours/days from expert/reputable sources regarding the share price, recommendations, analysis etc, then you need to be wary - will you ever be able to do decent and up-to-date analysis? No "local" knowledge can beat this.

I personally prefer, and would strongly suggest to anyone starting out investing, to invest in blue-chip US based stocks. Yes, there is currency exposure (but over time dollar-cost-averaging comes into play), but you are dealing with companies that have constant deep analysis and research done (and presented in clear format to the amateur investor), and going for blue-chip or large growth stocks in companies that you likely understand (just as well as, if not more, an Irish company). i.e. you are far more likely to know and understand the products/services/market of companies like Microsoft, Netflix, Visa, Electronic Arts, Nike (as a quick sample) than you are a company on the ISEQ. You will have easier access to up to date investor info on them. They are likely to grow much faster. They are less exposed to shocks (due to their global presence etc).

Put it another way. The ISEQ has yet to even recover to it's pre-2008-financial-crisis high. The Nasdaq is over 5 times higher than the pre-crash high, the US500, is over 3 times higher. I know where I prefer my money to be.

VonLuck

https://www.boards.ie/discussion/comment/117862616#Comment_117862616

I think you're missing the point. Less research because you have a strong knowledge of the company already.

https://www.boards.ie/discussion/comment/117863969#Comment_117863969

An example I would give is property developers, say Cairn Homes. That's certainly local.

dotsman

https://www.boards.ie/discussion/comment/117864109#Comment_117864109

Are you talking about insider knowledge? Do you know of upcoming deals they are about to announce? Do you understand the profitability, margins etc? Are you aware of what risks the company is exposed to? Its plans for expansion and future growth etc? Do you have access to independent views on the outlook for the company?

With regards Cairn Homes. This is a perfect example of the ISE. There is very little up-to-date info online about it. It is a high-risk penny stock, that has a negative 5 year return of -3.23% which is terrifying given A) how much the NASDAQ/S&P 500 etc have performed in that time, and B) that it had this terrible performance during a massive building boom (which is when its profits and share price should peak). It has dropped 45% since its 2017 peak. Does your "local knowledge" tell you why that happened and if/when the causes will be reversed? Feel free to gamble on it (this is a degiro thread and not a discussion on a particular share 😁), but it is also available on the LSE where you will pay half the stamp duty, have a lot more activity and pretty much any online resource will be quoting from and not the ISE (i.e. on Degiro, you get the current info with a 15-minute delay, or pay a few quid to get it in real-time)

VonLuck

Does anyone know how Rights Issues work on DeGiro? Do they email you or notify you in some way if a stock you're holding is eligible?

RainInSummer

I used to get emails when I used them alright.

VonLuck

A weird thing happened to me yesterday. I checked my portfolio and the daily change came up negative with -€45,000 (negative)! I have nowhere near that amount which would have meant my portfolio value would be in the red by thousands, which is just nonsensical. When I checked my portfolio value it was correct so I'm not sure why it was showing like that.

Has that happened to anyone else before?

Anyone read the 26 or so pages of the new T&Cs released?

I'm not currently using Degiro, but may again in the future. Wondering what they have changed.

radiospan

With the tax deadline approaching, I hadn't thought I had sold any shares in 2020, but from the Degiro report it said I had a made a gain from sales somehow.

I checked my sales history, and I see now it was because how the Apple 4:1 share split was handled on Degiro. They registered it as selling at the pre-split price, and then buying back 4x as many at the post-split price. (as many of you probably know).

I assume this needs to be registered with Revenue and I now owe CGT on the "gain" because of this? Even though the € was immediately used by Degiro to "buy back". Can it be offset somehow? Or do we need to pay up every time a stock split happens as if it was a real disposal?

Taylor365

It should not be a taxable event.

I'd contact Degiro straight away to get to the bottom of it to be sure.

Also, your nearly a year late to PAY the tax owed. Filing can happen before 31st Oct 2021, but payment should have happened either before Dec15th 2020 or Jan 31st 2021 depending on date of sale.

Tax - it's easy!

One More Toy

https://www.boards.ie/discussion/comment/118048566#Comment_118048566

This happened to me too, as did everyone else who held apple shares. I did not report it as a Cgt event

Shedite27

Yeah I wouldn't report that as a CGT event.

circadian

Can't withdraw funds from my account for over a week. I'm holding no shares at the minute and every time I try to withdraw I eventually get a mail saying insufficient funds.

I mailed Degiro several times, and only got a response today saying "looks fine, it's being transferred" which is hasn't. It failed again. I saw somewhere online suggesting to convert from £ to euro and transfer that (like a complete dumbass I followed this advice) but still can't transfer.

Degiro customer service used to be good but at the minute it is awful, like some of the worst experiences I've ever had. Waiting nearly a week for a response as to why I can;t withdraw and even then no help whatsoever.

If I ever get my money I'll be closing my account, this is a ridiculous setup.

Shedite27

https://www.boards.ie/discussion/comment/118058248#Comment_118058248

I withdrew funds Monday and it arrived very quick. Is there still showing a balance for you on Degiro?