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To see our content at its best we recommend upgrading if you wish to continue using IE or using another browser such as Firefox, Safari or Google Chrome. Now comes a complete price-smashing entrant from Holland: The tariff for US-listed shares is as follows: Degiro will also be very cheap for investors who like low-cost tracker funds known as "exchange-traded funds" or ETFs.

Degiro already operates in Holland, Belgium, Poland, Ireland and a handful of other countries. It claims to offer to private investors the prices that have until now been available only to big institutions.

So far it has been successful. Its Dutch operation launched in offering services to institutions.

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Just 18 months ago it rolled the service out to private Dutch investors. It now says it accounts for 30pc of all private investor trades in Holland.

That huge growth reflects the fact that it appeals most to active traders, typically a small group of investors who account for a very large proportion of all transactions. It does not charge "custodian fees" for overseeing your accounts or "inactivity" fees — levied on people who don't make enough trades in any one period.

Inactivity fees are a regular part of the British stock broker charge sheet — Barclays Stockbrokers applies them, for instance, among others.

That means investors are limited to shares, investment trusts and exchange-traded funds ETFs. And although the broker provides real-time prices and charts, it does not provide the depth of analysis and research provided by, for example, Hargreaves Lansdown. But it told Telegraph Money it plans to do so shortly — within as little as six months. It operates here under licence by virtue of the fact that its authorised in Holland. In practical terms that means that the protection offered by the UK's Financial Services Compensation Scheme won't apply.

Were the firm to go bust and any losses result, investors would have to apply for redress through the European equivalent of the FSCS. Client cash is held in segregated accounts, so should in any case be safe. Howard Marks, an Oxford University graduate turned drug smuggler, made millions. Now he eagerly awaits royalty cheques.

Paul Daniels wasted too much on Ferraris but has made a fortune on his home - despite the flood. Following George Osborne's announcement of the Budget, The Telegraph looks at the numbers on the UK's economy and financial health. George Osborne should simply abandon changes that will reduce incentives to save and create yet more uncertainty. A light-hearted quiz about the gaping maw of financial misery that perpetually threatens to devour us all. Accessibility links Skip to article Skip to navigation.

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Degiro claims to be the first broker to offer private investors the same dealing terms thyat are available to institutional traders. Ever since the arrival of online share-trading in the late Nineties prices have been falling. Where did the firm come from — and is it trustworthy?

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