DEGIRO: Silently and heavily increased currency transaction costs?

I very recently (December 2021) opened a DEGIRO account in CHF from Switzerland.
Auto FX was/is(?) 0.10 % and manual was 0.02% + 10 EUR.
This is still stated as of today in the DEGIRO FAQ.

Accordingly to the official PDF valid beginning 2022-01-05 they increased this more than twelve-fold from 0.02% to 0.25%. Auto FX was increased from 0.1% to 0.25%, which is more than double!

Am I correct or do you have any other information? Support did not react to my inquiry yet.

I received no notification about the changes. If this is true, I lost all my trust in Degiro.

IBKR is for free now and much lower fees.

1 Like

Found the same new fees from the FAQ page now:

The AutoFX fee is 0.25% of the amount converted.

Alternatively, you can enable manual currency handling, and convert a lump sum manually to trade with. The fee for a manual currency conversion is 10.00‚ā¨ + 0.25% of the amount converted.

Thanks for this information. I would neve have seen it, as I only use Degiro for small amounts…

I guess it is one more reason tu use IBKR.

I have a CHF Account with Degiro for quite some time.

They did announce that they were updating their AGB and fees back in December IIRC via email. The raise for AutoFX was communicated as part of that as well.

0.25% is still quite low, especially compared with Swiss brokers.

1 Like

Agree. Unless you invest tens of thousands per year, the difference is not that big.

Yes, it is correct that they changed it - ironically as part of the ’ DeGiro goes Zero’ campaing.
Also, they quietly removed the option of opening a custody account. Existing customers can keep it (for now- who knows).
Exactly for such repeating changes with short or no notice, I left my previous broker. It is very annoying.

And still IB is an order of magnitude lower.

I have the feeling, that whenever IB changes their fee structure, I am better off than before while whenever new kids on the block (be it Revolut, DEGIRO, even DKB) announce that they change their fees everyone is worse off. I guess that‚Äôs the business model of the ‚Äėfree lunch‚Äô providers.

2 Likes
By reading and partipating to this forum, you confirm you have read and agree with the disclaimer presented on http://www.mustachianpost.com/
En lisant et participant à ce forum, vous confirmez avoir lu et être d'accord avec l'avis de dégagement de responsabilité présenté sur http://www.mustachianpost.com/fr/