Product Overview
LYNX – Broker Account
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LYNX‘s trading platforms include both web and mobile. The company has a great range of markets and products, including vital international and various local European exchanges. They also offer relatively lower fees for ETFs and stock trading. Additionally, their mobile trading platform and customer service are top-notch. However, traders may encounter challenges with the limited withdrawal and deposit options; they only accept bank transfers. The advantages of using LYNX include:
- Low trading fees for stocks and ETFs.
- Generally, the fee for shares trading in Germany is EUR 5.80 (see details below)
- Excellent mobile trading platform.
- Excellent customer service.
- Traders enjoy a great range of markets and products.
LYNX was established in 2006 and is headquartered in Amsterdam with a branch in Charlottenstrasse, Berlin. The trading platforms include both web and mobile. The company has a great range of markets and products, including vital international and various local European exchanges. They also offer relatively lower fees for ETFs and stock trading. Additionally, their mobile trading platform and customer service are top-notch. However, traders may encounter challenges with the limited withdrawal and deposit options; they only accept bank transfers. The advantages of using LYNX include:
- Traders’ funds are safe since the Dutch securities regulator, AFM, and BaFin regulates the broker.
- Excellent mobile trading platform.
- Excellent customer service.
- Traders enjoy a great range of markets and products.
- Low trading fees for stocks and ETFs.
How to Sign Up
The account opening process is simple and fully digitalized. However, the account review team may take longer to approve newly opened accounts. The high minimum deposit of €3000 may also discourage traders. The procedure includes:
- Fill in the personal and financial details.
- Briefly describe your trading knowledge and experience via a questionnaire.
- Complete the identity and residency verification.
Pricing and Fees
LYNX offers transparent fees, which are also listed on the official website. The broker believes that custody fees and transaction costs affect traders’ returns. Therefore, they strive to offer competitive, cheap and transparent prices.
Trading Fees
- The broker offers volume–based commission on stock and ETF trading. For example, in the German Tradegate stock exchange, the fee is 0.14% commission and a minimum of EUR 5.80.
- Generally, the fee for shares trading in Germany is EUR 5.80.
- Options trading fee is EUR 2.00
- Warrants and certificates cost 0.20% commission and a minimum of EUR 8.00.
- 0.01% commission and a minimum of EUR 3.00 for CFDs.
- Stock CFDs costs EUR 5.80 and 0.10% commission.
Non – trading Fees
- LYNX does not charge an account fee.
- € 1 per month inactivity fee if broker balance is less than 1.000 USD
- Free withdrawal and deposit fees.
- No custody fees.
- Free demo account.
- Free real-time prices for stocks and indices.
- Telephone order support, deposit statement, custody transfer and order transmission, modification, and deletion are all free of charge.
It is important to note that Lynx exempts new traders from platform fees. Traders with more than €100,000 in their portfolio are also exempted from platform fees. Additionally, the first withdrawal of every calendar month is free. However, charges may apply for the subsequent months depending on the currency.
Benefits of Using LYNX
- LYNX offers interactive webinars, live streams, and podcasts that are useful for new and established traders.
- LYNX provides stocks and products from both local European markets and international markets. There are over 100 markets in 24 countries across the globe.
- They provide competitive and transparent fees with no hidden costs. Traders can utilize the cheap rates to maximize returns.
- Enjoy trading numerous products, including stocks, options, futures, cryptocurrency, CFDs, ETFs, and bonds.
- Lynx offers various trading tools in both web and mobile platforms that can enhance trading success.
- Various financial agencies and government authorities, including BaFin, regulate Lynx; hence, clients’ funds are safe.
- The broker provides both web and mobile trading. Both platforms are user-friendly and suit various types of traders.
Mobile and Web Trading Platforms
LYNX offers both web and mobile trading. The mobile platform is well–designed and easy to navigate. It has a two-step login feature which makes it secure. There are also a variety of order types and a good search feature. The chat-bot makes it top-notch in terms of customer support. The app is available in both IOS and android for free download.
The web platform has advanced functionalities and offers excellent customizability. However, new users may find it too sophisticated to navigate. The web platform suits experienced traders who can use the customizable features and tools.
Documentation Needed.
Lynx collects various important details from users during the registration process. New clients must provide proof of identity and residency to be able to open an account with the broker. The process is digital and can be completed on the web platform.
The following documents are required for identification:
- A national ID card or Passport is needed as proof of identity.
- A bank statement is needed as proof of residency.