After having opened my DEGIRO account recently, it was time to use my DEGIRO account. My first deposit reached my DEGIRO broker account! Let’s start with the good, there is no fee for transfer! I have transferred 1000 CHF and exactly 1000 CHF arrived in my account. I was afraid of a hidden fee or transfer fee. But there are no fees!
With the bad news now: The transfer took 8 days. I sent the transfer Friday 17th, the bank debited it from my account Monday 20th. It only arrived today, Tuesday 28th on my broker account. I have contacted DEGIRO several times in the meantime to ask about the whereabouts of my money. They did have an issue with their bank (CIC Bank, Basel). The bank was not transferring the money statements to them for about a week. So, normally, this should not be so slow. I am inclined to give them the benefit of the doubt for this one. I will see what happens to my second transfer. I sent it yesterday and it should arrive tomorrow on my DEGIRO account. If this issue is something that happens regularly, this is a really bad thing for DEGIRO. But we will see.
Update (6 months later): I have not had any more issue of that sort with DEGIRO!
My first investment at DEGIRO
With some part of this money, I bought 13 shares of Vanguard Total World Stock ETF (VT) at 73.16 USD. This ETF is a passive fund that holds 8109 stocks in the entire world, weighted by capitalization. It contains around 50% of the stocks from the United States and the rest is from the entire world. The fund contains 2.5% of stocks from Switzerland. It has a very low Total Expense Ratio (TER) is 0.09%, which is very low and absolutely fine for me.
Since this ETF is in the list of free ETF offered by DEGIRO, I did not pay any fee to buy the shares. Nevertheless, I paid a small fee for currency conversion. I paid 0.19CHF on an order of 936.80 CHF, which means a fee of 0.02%. This is pretty good since I was paying around 0.5% fee for funds on PostFinance :)
The buy was pretty easy to do on DEGIRO, no issues here. At first, not very clear, but it turned out quite OK. I will post more information on the future on how to use DEGIRO. I received a mail notification for both the deposit and the trading transactions. Everything seems fine.
I am not yet totally sure on my final portfolio. But VT will definitely be a part of it and probably a large part at that. I will keep you up to date as soon as I update my portfolio.