Operating since 2000 and based in Luxembourg, Internaxx is an online broker that has full bank status, offering financial and investment services to international investors and expatriates in over 150 countries.
Internaxx provide a competitively priced way for investing internationally and managing multiple currencies at the same time. They incorporate advanced routing technology with reliable and flexible trading systems.
There is a range of easy to use platforms for simple and easy trading with real time quotes from different markets, efficient execution speeds, transparent pricing, free research tools and expert support.
The Internaxx multi-currency trading account allows trading stocks, ETFs, funds and more. Smart portfolios managed by inhouse experts is an automated way that can help investors grow their investments. Clients are protected by regulation and an insurance policy.
Pros / Cons
- Luxembourg Deposit Guarantee Fund (FGDL)
- Smart Portfolios
- Morningstar research & analysis
- Multiple account currencies
- No US clients
- Limited funding options
- Restricted leverage
- No MetaTrader platform
- Offline account opening process
Internaxx are based in Luxembourg, an ‘AAA’ rated centre renowned for investor protection. They have full bank status and are regulated by the Commission de Surveillance du Secteur Financier (CSSF) under the oversight of the European Central Bank. The CSSF is responsible for the financial regulation in Luxembourg.
Internaxx or a member of the Luxembourg Deposit Guarantee Fund (FGDL). The FGDL guarantee is triggered when an FGDL member institution is unable to repay eligible deposits to its customers. Typically, this situation arises in the event of bankruptcy of a bank. The guarantee offered by the FGDL is limited to €100,000 per person and per bank.
Assets are held securely by global custodians and cash protected up to €100,000 under the FGDL. This regulation and protection can help to give clients peace of mind that their investments are safe with a trustworthy broker. In addition to this, Internaxx is a subsidiary of Swissquote, the Swiss leader in online banking with billions in client assets.
Internaxx serves over 70+ countries throughout Europe, Australia, Canada, Hong Kong, etc. They do not accept US clients and some other countries where there are strict regulations in place.
Internaxx Trading Platforms
There are a few trading platforms to choose from including the web platform with tools and research as well as the mobile platform for flexible trading whilst on the move via iOS and Android devices.
Web Trading Platform
The user-friendly Internaxx web trading platform offers seamless trading with free unlimited real time market data on 18 international markets. It has research and analysis capabilities along with professional trading tools.
Web platform features:
- Get free real-time quotes, news and charting tools on desktop, tablet or mobile
- Free access to Morningstar independent research and analysis (usually $199 per year)
- Portfolio X-Ray to view your total holdings in a single snapshot
- Make informed decisions with powerful Stock, Fund and ETF Selector tools
- Settle in your currency of choice with your multi-currency account
- Set alerts, create watchlists, place market, limit or stop loss orders
Mobile Trading Platform
The Interaxx mobile trading platform provides a simple, convenient and free way to trade from your iOS or Android devices whilst in the move. You can follow the markets, research investment ideas, and trade from the platform.
Mobile platform features:
- Available on iOS and Android mobile devices
- Trade directly from your tablet or smart device
- Follow the markets, monitor your portfolio and manage accounts
- Free real-time stock quotes, view price charts and place orders
- Create up to 5 watchlists to follow markets
- Data is 128-bit encrypted
Internaxx Trading Tools & Education
There is a choice of free premium independent research and analysis tools provided to Internaxx clients. These tools can save time and assist with trading decisions.
- Real-time stock market data, reports and third-party analysis
- Monitor, compare and select funds and ETFs with premium analyst research from Morningstar
- Real time news from Dow Jones
- Powerful selectors and Portfolio X- Ray
In addition to the trading tools there are a range of articles available on the Internaxx website covering a variety of investment topics.
Internaxx Trading Instruments
Clients have a large product choice and access to thousands of investment options along with the tools they need to help them achieve their objectives. There is an ETF selector that enables you to quickly find the ETFs you’re looking for.
- Trade on 19 global stock exchanges in North America, Europe and Asia.
- North America: New York (NYSE, Nasdaq), Toronto (TSX, TSXV), Canadian Securities Exchange (CSE)
- Europe: Frankfurt (XETRA), Euronext Paris, London (LSE, AIM), Dublin, Euronext Amsterdam, Euronext Brussels, Madrid (BME), Zurich (SIX), Nasdaq Nordic (OMX), Milan
- Asia: Singapore (SGX), Hong Kong (HKEX), Australia (ASX)
- Access 500+ international clean funds from over 20 leading asset managers
- Choose from over 5,000s ETFs from Vanguard, iShares and more
Internaxx Trading Accounts & Fees
There are a range of different accounts to choose from and to help you reach your investment goals. Clients can choose to manage investments themselves or use the assistance of professionals.
Multi-Currency Trading Account
The multi-currency account is one convenient account that can hold up to 9 currencies and settle trades in EUR, USD, CAD, GBP, SEK, CHF, AUD, HKD & SGD. It can reduce foreign exchange costs by settling trades in local money and change cash from one currency to another at competitive rates from just 0.2% with zero commission. Account fee is waived for active traders and there is no extra charge for holding a multi-currency account.
This account is for those who want to manage investments themselves. It offers access with no minimum investment to trade a range of US and UK markets from €14.95, ETFs and pay no initial charges or commissions on a broad selection of 600+ funds. It also has a variety of premium trading and research tools. It has competitive and transparent pricing models that vary depending on the asset class.
You can trade with margin and take out personal loans that are backed by your investments. Rates are competitive from 1.99%. This gives you flexibility, minimising the potential disruptions to your overall investments.
This is a flexible managed account that is a fully automated investment solution where a professional team manage your investment portfolio for you, based on your selected risk profile. Smart portfolios have no entry or exit fees and a minimum 5,000 EUR/USD/GBP deposit requirement (they are only available in EUR, USD and GBP). There is an account management and product fee. Depending on your investment size this ranges from 0.90% to 1.40%.
There are three investment portfolios to choose from depending on your objectives and preferences., the defensive, moderate and growth portfolios. You can switch to a lower or higher risk profile at any time free of charge.
This account comes with premium 24/7 online support, automatic rebalancing and investment of new funds and online account access with Portfolio X-Ray and Morningstar research to monitor your investments.
Internaxx Customer Service
There is an expert multi-lingual customer support team based in Luxembourg that is on hand to assist clients across the globe with any general or technical question they may have. The average call answer time is 15.3 seconds with 82% of calls answered within 20 seconds and 94% of emails answered within 24 hours.
Internaxx Deposit & Withdrawal
Whilst Internaxx allow you to have your account in 9 different currencies (EUR, USD, CAD, GBP, SEK, CHF, AUD, HKD & SGD), they only offer deposit and withdrawal via bank transfer. This is very limited compared to most other brokers who have online payment processor options such as PayPal, Skrill and Neteller. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
There is no deposit fee but there and withdrawal fees are free if you withdraw below €50,000 within the EU. All other withdrawals incur a €10 charge. Bank transfers may take a few business days to clear.
Internaxx strictly do not accept third-party payments. All funds deposited into your trading account must be under the same name as your Internaxx account.
Internaxx Account Opening
To open an account at Internaxx you need to complete an application online or download the application to complete on paper. You need to post your documents to Internaxx for them to verify and activate your account. Once verified, you will be able to fund it and start investing.
Internaxx is a global online broker who have easy to use tools and intuitive platforms with a range of products to choose from. Accounts can be opened in multiple currencies but funding options are limited. They have premium research tools and insights from Morningstar. Multi-lingual support is offered but the average retail day trader may need leverage and products that they do not offer.
Trading is complex and comes with a high risk of losing money. You should consider whether you understand how investments work and whether you can afford to take the high risk of losing your money.