LYNX Broker Review
Richard Montana | August 2, 2022
Founded in 2006, LYNX is an online broker based in the Netherlands that takes investing very seriously. They offer you a great variety of markets to trade and invest in via powerful trading software that is loaded with industry leading trading tools to help you spot opportunities and trade efficiently. If you are an active investor, LYNX’s global trading possibilities, advanced platforms and tools, along with low fees ensure that you can focus on what is really important: your success on the market. You can invest without limits in 150 markets in 33 countries. LYNX gives you access to all major international stock exchanges at your fingertips.
Pros & Cons
- Excellent choice of user-friendly yet powerful platforms
- Great range of high-quality tools for analysing markets
- Trading in many financial instruments
- Worldwide investing at competitive rates
- Investment account for active investors
- Insight into your investment portfolio and performance
- Multiple account currency options
- Going short (overnight) possible
- Professional customer service
- Minimum €3,000 deposit is not the lowest
- Limited account funding options
- Cannot accept clients from some countries
- Could add some more educational content
- Could be overwhelming for beginners
LYNX provide active traders and investors with access to a great range of markets with very competitive fees, versatile trading platforms and multilingual customer support. They have over 100 employees and provide 60,000+ clients in multiple countries worldwide investing on an impressive 100+ exchanges across Europe, Australia, Asia and America. As a valued client of LYNX, you can have access to a range of robust trading tools including technical indicators for conducting thorough market analysis and a choice of over 60 order types. I found the fees on US stocks and ETFs are very low, with upfront pricing and no additional fees. LYNX is focused on providing transparent trading products and services, they have been recognised for doing so having won a variety of industry awards for their innovative trading technology and excellent customer support.
When it comes to choosing a broker, regulation is one of the first things that I look for. LYNX is a Dutch investment firm licensed by the Netherlands Authority for the Financial Markets (AFM). This helps to ensure traders they are using a trusted and reliable online broker who must follow strict rules and procedures that are put in place to protect investors.
LYNX broker serves clients in various countries, primarily throughout the European Union. There are however many countries from where they cannot accept clients. If you discover you are in one of them, please feel free to check our best stock brokers for an alternative option.
The right trading software is the most important tool for you as an investor. It is the link between your trading activities and the stock market. At LYNX, they know that investors come in all types and that every investor wants and needs different things from their trading software. That’s why LYNX offers you various trading solutions so that you can choose which trading software is the best fit for you. When it comes to trading possibilities, ease of use, reliability, and speed, the LYNX platforms have frequently been considered amongst the best trading platforms in the word. Through the trading platform, the web trader, and the investment apps, you have access to your investment account anytime, anywhere.
Trader Workstation (TWS)
The award-winning TWS Trading Platform is a great platform for active investors. When you need advanced trading capabilities with extensive technical and fundamental analysis capabilities, the TWS platform is the platform for you. You can effectively determine your entry and exit points with more than 60 order types, the depth book, and various trading tools. You can easily install the platform on Windows, Mac, and Linux. The TWS platform’s comprehensive trading software offers you a large number of useful tools. Whether you trade stocks, options, futures, or forex, for each security, they provide you with the right tools to help you get the most out of your investments.
This is a practical web based platform that runs directly in your web browser without you needing to download or install any additional software. If you want to access your account freuqnelty from different devices, this could be the ideal platform for you to manage your investments. With this web trader, you can monitor your portfolio, add important indicators, place orders, and much more in a simplified way. You can open the web trader in all major browsers, including Chrome, Edge, Firefox, and Safari. The powerful platform has a user-friendly intuitive interface and contains all of the tools and features required for a smooth trading experience. It is simple enough for new traders yet has enough advanced capabilities to suit the more seasoned traders.
The LYNX mobile trading apps are useful for those who need to access their account and trade whilst on the go. It gives access to the markets and your trading account from all Android and iOS devices from anywhere in the world where you have an internet connection. Investing via smartphone and tablet is becoming more and more natural. With the InvestmentApps, you can trade quickly and easily, analyze charts, and use technical indicators. I think the apps are ideal for keeping track of your positions and folowing the latest market news from the comfort of your mobile phone.
- Trade whilst on the go from within the palm of your hands
- Real time streaming prices on multiple instruments
- Trade various markets including stocks, shares, options, futures, forex, etc
- Set push alert notifications based on price
- Use the mobile scanner to find potential trade setups
- Place, manage and close orders in in real time
For experienced investors and traders, LYNX offer a number of API solutions. These are great for those of you who want to automate your trading strategies, query market data, and monitor your account balance and portfolio in real-time. The experienced trading IT team employees are ready for all your questions and are happy to help you get setup with the API connectivity.
The LYNX platforms have an excellent variety of superb analysis tools for every type of trading strategy. This can be extremely helpful for analysing the markets in great detail so that you can spot high probability opportunities and make informed decisions. They can help you to spot trends and ranges, identify areas of support and resistance, key price levels and more. Whatever your trading strategy of choice, you have the tools at your disposal to make it a reality.
The BookTrader tool allows you to place and close orders faster. It requires just two clicks to send multiple order types via the deep book direct to the exchange. There is a price ladder that displays bid/ask prices whilst you can view your profit/losses in real time.
The OptionTrader tool displays an overview of all option series of the selected fund in one single customisable screen. This lets the user quickly analyse the potential risks and place orders with one click trading (OCT).
The ComboTrader tool allows users to create and send combination orders (Straddles, Strangles, Butterflies, etc) to the exchange in just one order, rather then waiting for them to be filled leg by leg.
The FX Trader tool lets you trade forex with over 80+ currency pairs in just one click. It displays the best available bid/ask prices on a customisable trading screen.
The Chart Trader tools does exactly what it says – lets you quickly place, manage and cancel orders directly from real time charts.
The MarketScanner tool provides on overview of the markets that you wish to scan. You can set filters and parameters to display only instruments that are relevant to you. It can also display the most traded shares, the biggest gainers and losers, or the shares with the highest dividends.
I found LYNX to be lacking in terms of trading guides and tutorial videos. They do have a selection of webinars and some good quality educational articles. Not all of them are available in English aside from a long manual relating to the desktop platform. There is a demo account option but only for desktop platform. I think it would be great if they could add some more educational content for complete novices and allow demo accounts on all the platforms. If you are just starting out and looking for as much help as you can get, please feel free to take a look at our best brokers for beginners.
Through LYNX broker, you can access an impressive range of 100+ financial markets in more than 20 countries worldwide. This includes markets in Europe, America, Asia and Australia. You can trade and invest in everything from stocks, options, futures, forex, bonds, CFDs and ETFs. With the wide range of investment products, you can implement virtually any trading strategy and take advantage of opportunities in any market situation. LYNX offers you virtually all tradable products, anywhere in the world. It should be noted that some countries have access to certain asset classes and others don’t.
An investment account via LYNX offers you everything you would expect from a broker nowadays. That is a stable and intuitive trading platform, competitive fees, and an incredibly extensive range of investment products and markets. You can trade stocks, options, futures, forex, leveraged products, and ETFs with one simple click, all with just a single account for all asset classes. The account types are as follows:
- Individual Account: This is an account where you are the sole owner
- Joint Account: If there are two or more account owners
- Corporate Account: This account type is for legal entities
Cash or Margin Account
When you open an individual, joint, or business account at LYNX, you can choose between a cash or margin account. If you decide to trade in options, futures, or other derivatives, you will need a margin account as you will be using front loading (holding margin). These financial instruments have a higher risk profile than ordinary stocks, for which a cash account is sufficient. LYNX allows you to convert your account from a cash to a margin account at any time if you have sufficient knowledge and experience. A margin account gives you the option (but not the obligation) to trade on margin. Conversely, you can also convert your margin account to a cash account.
The minimum deposit required to open an account with LYNX broker is quite high at €3,000. This can be done via direct deposit or by transferring an existing portfolio with a minimum value of €3,000. The total value of the client portfolio (value of securities and cash) must be at least $2,000 (or the equivalent in another currency) in order to be able to trade in all options, futures and American shares. If the client portfolio fails to meet this minimum, they will still be able to trade in European shares and options. If this is out of your budget, you might want to consider IG as an alternative option. They let you get started with a minimum deposit of around €250 in comparison.
LYNX broker has very competitive transaction costs for transactions conducted across their financial product range. Independent price analysis companies have found them to consistently offer fees on par with other online brokers. Fees vary depending on your country, starting from $5 on US stocks and ETFs, €3.00 options and there are no additional service fees. Forex spreads start from 0.1 pips with no spread mark-ups or any other hidden costs.
I appreciate how LYNX offer you personalized service with experienced staff who are passionate about the stock market. At LYNX, you will communicate directly with one of their account managers who are happy to provide knowledgeable answers to all your questions by phone, e-mail, or chat.
Once you have activated and verified your LYNX account, you can fund it via bank transfer. After they have received the fund funds, they will be credited to your trading account. Deposits and withdrawals are processed via Interactive Brokers and may take a few business days to clear. There are no deposit fees and one free withdrawal per month. Unfortunately, they do not offer any other more convenient methods such as credit/debit card or online payment processors at this time. I think they could improve in this area by offering some more modern forms of payment.
Making a transfer from your LYNX account to your bank account is only possible if you have verified this account number in your account administration. They implement a security system that continuously monitors all account activities and will not make any changes until clients have personally verified their account with a series of security questions. All funds deposited into your trading account must be under the same name as your LYNX trading account.
Accounts can be opened in a great selection of different currencies: AUD, CZK, NZD, HKD, SGD, DKK, ILS, ZAR, NOK, CAD, JPY, PLN, SEK, CNH, RUB, CHF, CAD, MXN, HUF, USD, EUR, GBP. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Overall, I am really impressed with many aspects of LYNX and consider them to be a top broker. They have an excellent range of financial instruments across the global financial markets for you to trade on advanced trading platforms and apps that are fully loaded with all of the tools that you need for comprehensive market analysis and efficient trading. The broker has very competitive trading fees so that you can take advantage of extensive trading opportunities and reasonable rates. I like how they deliver a personal and professional service with experienced specialists on hand to help if and when needed. They offer the ideal investment account for advanced investors and traders alike. I think LYNX can be a good broker for those of you who are looking to access all major international stock exchanges at your fingertips.