In the first place, we have to note that this company is hiding its ownership details. They are a part of some so-called Group, specialists in leveraged trading. Thus, zero relevant information is revealed.
With this in mind, you can already start questioning everything this broker says. However, after this honest DegiroCFD review, you will be sure that this is not the right place for your money.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | Degirocfd.com |
| Have Warnings from: | CONSOB |
| Registered in: | N/A |
| Operating since: | 2023 |
| Trading Platforms: | Web trader |
| Maximum Leverage: | N/A |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies, Forex, Commodities, Indices, Shares |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Considering a warning from CONSOB and non-transparent conditions, withdrawals become a mission impossible. Therefore, we suggest you apply for a refund as soon as possible. If you need step-by-step guidance, don’t hesitate to contact our refund experts. |
Legal info: Is DegiroCFD legit or a scam?
As can be seen, the company presents itself as the best European brokerage. Thus, they don’t reveal any headquarters or office details. Consequently, it’s hard to determine what laws they should comply with. But one thing is sure. This company is not regulated by any European trading regulator. We will start with the most trusted ones, like FCA, BaFin, or CNMV.
With this in mind, you know all of the DegiroCFD broker offers are mostly fictive from their trading software, conditions, and policies. But there’s one key proof of that. There’s a warning issued by Italian CONSOB on the 7th of December 2023.
Who are DegiroCFD Victims?
Obviously, the company has been targeting primarily Italians. But there are few other countries where Italian citizens are present in a big number. Such as:
- Albania
- United Kingdom
- Germany
But it’s not excluded this company is also targeting other countries. In any case, with your assistance and opinion, regulators can easily publish more and more warnings. But if you are looking to recover your money, our chargeback specialists are available for consultation.
Leverage, Commissions, Spreads, Fees and Taxes
One of the biggest downsides of this investment company is hidden conditions. Not even the trading leverage is revealed to customers. Therefore, you can’t know what to expect when you join. But there’s a simple way to discover if the company is legitimate.
The leverage they offer must be up to 1:30 for all retail traders. Anything higher than that is not accepted by any European regulator nor by the European Securities and Markets Authority (ESMA). Since commissions and fees are another mystery, you should avoid this brokerage at all costs. Thus, to see what happens when a company offers shady conditions, read our Kowela and CapitalsWise reviews.
Bonuses
On the positive side, this company is not offering any bonuses or promotions. At least not transparently. But if you join and they want to give you some credit funds, be wise and don’t accept it. Otherwise, you will be prevented from getting any withdrawal in the future unless some conditions are met. Mostly impossible.
DegiroCFD Trading Features
Apparently, this company has received 90 international awards. Yet, they don’t offer any advanced features. The only thing they offer is basic analytical and analysis tools. However, nothing that you can’t see with any other licensed brokerage. After all, we highly doubt that’s what they are getting an award for.
Trading Platforms Available
In addition to the missing advanced features, the company is also missing trusted software. In fact, only DegiroCFD WebTrader is available for desktop users. However, there’s an option to download a desktop app. But only from the company’s DropBox and not a trusted source. Yet, without full transparency, it’s hard to believe that the file is not corrupted.
Available Trading Assets
As can be seen from the presentation, all five major instrument classes are available. Yet, without transparent access to the platform, it’s hard to prove that. But what traders can expect is:
- Forex – GBP/EUR, AUD/NZD
- Commodities – natural gas, palladium
- Shares – Walt Disney, Netflix
- Indices – ASX 200, DAX 30
- Cryptos – DOT, XRP
Account Types
Important to realize is that this brokerage doesn’t reveal the minimum deposit requirement. Neither do they have any account type classification to motivate traders to trade more. In fact, there’s nothing to motivate traders to even deposit with this company.
Mobile Trading App
If you were expecting that we’re done with irregularities, here’s more. Indeed, the company offers iOS and Android mobile apps. However, these apps belong to completely different firms.
In any case, iOS users can use QBX Trader while Android users can use 4FX Trader. Thus, neither of these has positive reviews or high ratings.
Demo Account
All in all, without DegiroCFD regulation, it’s hard to trust anything this broker claims. Yet, a demo account would be a suitable option to test the features, platform, and conditions. But they don’t offer it.
Education
Since there are many investment companies and traders who know very little about trading, proper education is the key to success. Yet, DegiroCFD brokerage doesn’t think the same way. Moreover, that tells you how interested they are in your trading success.
DegiroCFD Withdrawal
Of course, to process the withdrawal request, traders must comply with AML and KYC laws. But these are just tricks scammers are using to prolong withdrawal processing time. Meanwhile, they will offer traders different deals for new opportunities.
In any case, processing a withdrawal takes up to five business days. Yet, methods and fees are not revealed. Therefore, another way they can manipulate customers.
Customer Support
Another disturbing fact is that this company doesn’t offer any reliable and trusted communication channels, such as phone number or Skype. Instead, they provide only e-mail and web-contact forms as an option to get in touch. Thus, working hours are not disclosed, and you can only hope for a quick response.
Key Information To Consider About DegiroCFD
Everything about this company sounds cheesy. Starting with their trading software, unknown conditions, shady withdrawal policy, and zero trust score. Not to mention, they are not regulated and warning is issued against them.
All in all, too many things to worry about. But if you were caught in this scam somehow, don’t hesitate to seek assistance. Our team is offering a free first consultation regarding any withdrawal issue. Contact us to find out your options.
FAQ Section
What is DegiroCFD?
DegiroCFD is a brokerage with anonymous ownership, headquarters, and founders. But also a broker with a warning from Italian CONSOB.
Is DegiroCFD a Legit Brokerage?
Not at all. Everything this investment company offers smells like a shameless scam.
Is It Possible to Recover Money From an Online Scammer?
Definitely. Traders can apply for chargeback, refund, or use some alternative refund methods. For detailed guidance, our consultants are available. Send us a message today.
