Manage Degiro

How to cancel your DEGIRO account: a step-by-step guide for irish investors

What DEGIRO is and why you might want to leave

DEGIRO is a low-cost European online brokerage platform operated from the Netherlands, offering access to stocks, ETFs, bonds and other investment instruments across multiple markets. The platform appeals to cost-conscious investors and buy-and-hold traders who value transparent, competitive fees over premium customer service features. If you've opened a DEGIRO account but now want to move to a different provider or simply step back from active investing, you're not alone-and Stopee is here to guide you through the closure process with clarity and confidence.

Understanding DEGIRO's account types and fee structure

DEGIRO offers several account profiles, each with different features and restrictions. Your account type determines which products you can access, whether you can use margin, and which securities lending arrangements apply. The Basic account suits most retail investors and comes with no margin access. Active and Trader accounts unlock leveraged products for more experienced investors. Custody accounts are designed for low-risk investors who prefer no securities lending.

The platform publishes clear, upfront fees: small per-trade commissions, handling fees on each transaction, and occasional connectivity charges for trading on non-home exchanges. There are no custody fees, no inactivity charges, and bank transfers for deposits and withdrawals are typically free. Understanding your current fee structure helps you evaluate whether to stay or move to another provider.

Why irish investors choose to close their DEGIRO accounts

People cancel DEGIRO for many reasons. Some switch because they need better tax reporting for Irish Revenue purposes, want access to tax-wrapped accounts like an ISA or SIPP that DEGIRO does not offer, or prefer a platform with enhanced customer support. Others move because platform changes-such as restrictions on product access or shifts in order handling-no longer suit their investment strategy. Change of investment direction, concerns about fees, or dissatisfaction with the user experience are equally common triggers. Whatever your reason, Stopee recognises that account closure should be straightforward and free from unnecessary barriers.

Your consumer rights when closing a brokerage account

As an Irish consumer, your rights are protected by the Consumer Rights Act 2015, which applies to distance contracts (online accounts like DEGIRO). The platform must allow you to close your account without penalty, though you remain responsible for settling any outstanding trades or negative balances. DEGIRO must also return your funds and securities in full, without unreasonable delay.

What the law guarantees you

Under Irish consumer law, you have the right to request account closure at any time. DEGIRO cannot charge you a termination fee for closing a Basic, Custody or standard Active account simply because you wish to leave. The broker must not impose artificial barriers to exit, delay your closure unreasonably, or withhold your cash or securities. If DEGIRO refuses to close your account or claims you owe fees that feel unjustified, you can escalate to the Financial Conduct Authority (FCA) via its complaint procedure, or lodge a complaint with the Central Bank of Ireland if the issue involves regulatory breaches.

Escalation contacts for irish investors

If DEGIRO does not respond to your closure request within a reasonable timeframe (typically 14-30 days), or if you encounter disputes over fees or fund return, contact the Central Bank of Ireland or the FCA's complaints team. Keep copies of all emails and closure requests. Stopee recommends documenting every step so you have evidence if a dispute arises.

How to cancel your DEGIRO account: step-by-step

The DEGIRO cancellation process requires you to settle all open positions, clear any negative balance, and then formally request closure through the platform's account settings or customer support.

Closing your DEGIRO account via the platform

1. Log into your DEGIRO account using your credentials.
   • If you've forgotten your password, use the "Forgot Password" link on the login page to reset it via email.
   • If you have two-factor authentication enabled, have your phone or authenticator app ready.
2. Sell all open positions (stocks, ETFs, bonds, etc.) in your portfolio.
   • Go to your Portfolio or Positions tab.
   • Select each holding and click Sell.
   • Confirm the sale at the current market price.
   • Wait for trades to settle (typically 1-2 business days).
   • Warning: Do not attempt to close your account until all positions are sold and settled; DEGIRO will reject the closure request otherwise.
3. Check your account balance and resolve any negative balance or cash deficit.
   • Navigate to your Cash or Account Balance section.
   • If your balance is negative, deposit funds to bring it to zero or positive.
   • You cannot close an account with a negative balance; DEGIRO's systems will prevent the closure.
4. Download and save all relevant documents and reports.
   • Go to Settings or Account Documents.
   • Download your tax reports, transaction history, and year-end statements.
   • Save these as PDFs for your records and for future tax filing with Revenue.
   • Pro tip: Export your complete transaction history for at least the past three years; this is crucial if DEGIRO closes or if you need evidence for tax purposes.
5. Navigate to Account Settings or Profile.
   • Look for a "Close Account" or "Deactivate Account" button (exact wording varies by DEGIRO interface version).
   • If you cannot find this option, proceed to step 6 instead.
6. Contact DEGIRO's customer support directly if no online closure option is visible.
   • Visit the DEGIRO website and locate the Contact or Help Centre section.
   • Send a formal email requesting account closure: "I request closure of my DEGIRO account [your account number]."
   • Include your full name, email address, and account details.
   • State that all positions are closed and your balance is cleared.
   • Request written confirmation of the closure date and any final statements.
   • Warning: Do not assume closure is complete until DEGIRO sends you written confirmation; verbal responses or partial emails do not constitute closure.
7. Confirm closure and request final payment.
   • DEGIRO will send you an email confirming the account closure date.
   • Within 5-10 business days, your remaining cash balance will be transferred to the bank account you registered with DEGIRO.
   • Check your bank statement to verify receipt of all funds.
   • If funds do not arrive within 10 business days, email DEGIRO again with your closure confirmation reference.

What to expect after you request closure

DEGIRO typically processes closures within 5-15 business days once all positions are sold and your balance is clear. You will receive a confirmation email with the exact closure date. Any remaining cash will be returned to your linked bank account. If you initiated a securities transfer (moving shares to another broker), that process may take longer-typically 10-20 business days-and your account may remain open until the transfer completes.

Refunds, timelines and fund return

DEGIRO does not charge a closure fee, but you remain responsible for any outstanding balances or fees up to the closure date. Once your account is closed, any remaining cash is returned in full.

How long does closure take?

A standard closure (no open trades, no securities transfer) typically takes 5-10 business days from your closure request. If you are transferring securities to another broker, the process may extend to 15-20 business days because the receiving broker must confirm receipt. DEGIRO will not close your account until the transfer is complete.

When will you receive your money?

Your remaining cash balance is transferred to your registered bank account within 5-10 business days of closure. Use Stopee's timeline checklist below to track expected dates. If funds do not arrive by day 12, contact DEGIRO immediately with your account number and closure reference.

Common mistakes to avoid when closing DEGIRO

Closing an investment account can feel daunting, especially if you're unsure about tax implications or worried about losing access to your records. Remember: you have full control over this process, and DEGIRO must cooperate.

Mistakes that delay or complicate closure

The most frequent error is attempting to close your account before all positions are sold. DEGIRO's system automatically rejects closure requests when open trades remain, forcing you to restart the process. A second common trap is not clearing a negative balance-even a small one-before requesting closure. Some investors also fail to download their tax documents before closure, making it difficult to file their Irish tax returns later. Others request closure via social media or live chat without following up with a formal email, leaving no paper trail if disputes arise. Finally, many assume closure is complete after they request it, then get frustrated when their account remains active for 1-2 weeks while settlement occurs.

Why documenting every step matters

Keep copies of your closure request email, all confirmation emails from DEGIRO, screenshots of your final account balance, and your bank transfer receipt. If any dispute arises-for example, if DEGIRO claims you still owe a fee or if your cash transfer is delayed-this documentation protects you. Stopee emphasises that consumer protection relies on evidence. Without it, you have no lever to escalate to the Central Bank of Ireland or the FCA.

After closure: tax, reporting and moving your investments

Your DEGIRO closure is just one step in your overall investment journey. You may need to file a final tax return, move your investments elsewhere, or simply step back from active trading.

Tax reporting and irish revenue

If you held investments in DEGIRO for longer than a calendar year, you may have capital gains or dividend income to report. Before you close your account, download your annual tax reports from DEGIRO's document centre. These reports detail all trades, dividends, and withholding taxes by calendar year. You'll need this data when filing your Irish tax return with Revenue. If DEGIRO closes your account before you've retrieved these documents, contact DEGIRO's tax support team and request copies; they are legally obliged to provide them.

Transferring securities to another broker

If you want to move your holdings to another broker instead of selling everything, initiate an in-specie transfer (also called a Direct Transfer or Delivery Instruction). The receiving broker will guide you through this process. DEGIRO will not close your account until the transfer completes, which can take 10-20 business days. Keep your DEGIRO account open during this period to avoid complications.

Choosing to stay or cancel: a comparison

Not sure whether closure is right for you? Consider the factors below.

Account closure checklist for irish investors

Use this checklist to ensure you've completed every step before requesting closure.

• All open positions (stocks, ETFs, bonds) are sold.
• All trades have settled (wait 2 business days after final sale).
• Account balance is zero or positive (no negative balances).
• All cash is in your DEGIRO account (no pending deposits or withdrawals).
• Downloaded and saved all tax reports, statements and transaction history.
• Exported a complete record of all trades for past 3+ years.
• Sent formal closure email to DEGIRO (saved a copy).
• Received written confirmation of closure date from DEGIRO.
• Verified that cash transfer arrived in your bank account.
• Checked that your account is no longer accessible online.

What users say about closing DEGIRO

Feedback from Irish investors reflects common themes. Many praise the low fees and straightforward platform but note that customer support can be slow, particularly when requesting account closure. Some users report that closure took longer than expected because they didn't realise they needed to download documents beforehand. Others switched to platforms offering Irish tax wrappers like Vanguard Personal Investor or Interactive Investor after using DEGIRO for buy-and-hold investing. Positive reviews often mention that once all positions are closed, the cancellation process itself is painless. The key complaint is that DEGIRO does not proactively remind users to settle their accounts before requesting closure, leading to frustration and repeated requests.

Key takeaways and next steps

Closing your DEGIRO account is straightforward if you follow the sequence: sell all holdings, clear any balance, download your documents, and request closure via email or account settings. Allow 10-15 business days for the full process, and do not assume closure is complete until you receive written confirmation and your funds arrive in your bank account. Keep all emails and confirmations in case you need to escalate a dispute to the Central Bank of Ireland or the FCA.

Whether you're moving to a tax-efficient platform, switching to a broker with better customer service, or stepping back from active investing altogether, Stopee has helped thousands of consumers navigate account closures with confidence and clarity. Your investment account belongs to you-make sure you close it on your own terms, with full understanding of the process and your rights. For more detailed guidance on cancellations across other financial services, visit Stopee at stopee.com and empower yourself with the knowledge to make informed decisions about your money.

Contact DEGIRO for closure requests

Email: Visit DEGIRO's Help Centre at degiro.ie (or the main DEGIRO website) and use the Contact form to submit your closure request. State clearly: "I request the closure of my DEGIRO account" and include your full name, email, and account number.

Postal address: DEGIRO B.V., Rembrandt Tower, 11th Floor, Amstelplein 1, 1096 HA Amsterdam, Netherlands.

Account reference: Include your DEGIRO account number in every communication so the team can locate your account instantly.