How to Change your DEGIRO Basic Account to a Custody Account

logomark Luca Puddu calendar Last Updated: November 2021 timer 3 min read
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So, you have read our DEGIRO review and decided to go ahead and open a DEGIRO Basic Account. That’s great!

But, you want to make a change to a custody account. Is it permitted by DEGIRO to change basic to custody accounts?

This is exactly the question we will answer here along with highlighting some of the key differences between these account types so you can make the best choice for you.

Table of contents

Can I change my DEGIRO Basic account to a Custody account?

According to the broker, it is not possible for you to change your basic account to a custody account since they both have different purposes. The main differences between these two account types are related to fees, and the lending of shares by DEGIRO.

What to do to have a DEGIRO Custody Account

You can’t convert your account, so the best solution is to create a new account. DEGIRO allows you to have multiple accounts under the same personal information so that is no problem. The only thing that has to be different in a new account, is your username.

When you open a new DEGIRO account, you will then select “Custody Account” and follow the same process as you did when opening your first account.

For more on the features and details, you can see our DEGIRO Custody guide to get to know more about this account type.

How do I use the new DEGIRO Custody account?

Once your new DEGIRO Custody Account is open, you can start to transfer your positions. You can ask the customer support team at DEGIRO to do this for you and transfer all of your open positions from your basic, to custody account.

One point to note if you do want the broker to help do this, the fee is €7.50 per open position, so depending on how many open positions you are transferring, it could be costly.

What are the reasons to wish for a Custody account?

As mentioned above, the key differences between a basic, and custody account are mainly around fees and lending.

The fees are significantly lower with a Basic Account. Even so, the DEGIRO Custody Account still provides extremely low fees that can rival any competitor in the industry. Share lending is another key difference. This does not happen at all on Custody Accounts, though with a Basic Account DEGIRO can lend out your shares to third parties with some conditions attached that still very much protect your holdings.

Further differences

There are several other differences to note. Mainly the fact that the Basic Account is built around, and provides access to many leveraged products like options, futures, and warrants. You will not find these products tradable on a Custody account which is only really focused on a pure stockbroking experience of trading the real asset at all times. Our table below provides more details on this.

For the most in-depth comparison, you can read our specific guide on DEGIRO basic vs custody profile to see everything highlighted in detail.

DEGIRO Basic vs DEGIRO Custody Basic Account Custody Account
Low Fees Yes Yes
Trade Shares, Bonds, Investment Funds, and Trackers (ETFs) Yes Yes
Trade Leveraged Products and Warrants Yes No
Free dividend and coupon processing Yes No

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About the Author

Luca Puddu

Broker Expert

Always full of different interests, Luca started to get interested in the field of personal finance in 2014.

His self-taught studies led him year by year to become increasingly interested in the investment field.

To date, Luca actively invests in the stock market and cryptocurrencies, focusing on rising markets and the industries of the future.

His main role at InvestinGoal.com is to analyze and study in the smallest detail the brokers and their platforms, while checking carefully that the information shown by them is genuine.

In this way, he provides readers with a complete and truthful overview of the broker they might be interested in.


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