Lynx Broker Review
Alyaziah Hayat | March 27, 2022
Table of Contents
Lynx is an online broker offering a variety of markets, proprietary platform and trading tools. However, funding options are limited, leverage is restricted and minimum deposit is higher than many other trading brokers.
Broker Pros / Cons
- Strict regulation
- Proprietary platform
- Trading tools
- Multiple account currency options
- Clients from the US and many other countries are not accepted
- Limited funding options
- Restricted leverage
- No MetaTrader platform
- Limited educational materials
- Minimum €3,000 deposit
- No online chat support
Founded in 2006, Lynx is an online broker based in the Netherlands. They offer active traders and investors competitive trading fees, flexible trading platforms and multilingual customer support with over 100 employees. They provide 50,000+ clients in multiple countries worldwide investing on 100+ exchanges across Europe, Australia, Asia and America.
Lynx traders have access to a range of trading tools including technical indicators for conducting market analysis and a choice of over 60 order types. Fees on US stocks and ETFs start from $5, options from €3.00 with no additional service fee.
Lynx are focused on providing transparent trading products and services, they have been recognised for doing so having won a variety of industry awards including Best Online Broker (Handelsblatt 2013 & 2015) and Best Broker in the Netherlands (Beleggers Belangen 2009 – 2013). In addition to this, the Lynx customer service team has also received the Best Service Award from CASH Magazine for two consecutive years.
Lynx broker is highly committed to protecting and securing client funds. They work alongside Interactive Brokers UK for the administration of accounts and settlement of orders. Interactive Brokers is a listed company and one of the largest brokers in the world in terms of transaction volume.
Lynx broker are regulated in the Netherlands by De Nederlandsche Bank (DNB) and the Dutch Authority for the Financial Markets (AFM). This helps to ensure traders they are using a trusted and reliable online broker.
They hold client funds in segregated accounts separate from their own, thus they cannot be used for any other purposes. Client portfolios are insured up to $ 500,000 (up to $250,000 in cash) with additional portfolio insurance up to $30,000,000 (up to $ 900,000 in cash).
Lynx broker serves clients in 9+ countries, primarily throughout the European Union. There are however many countries from where they cannot accept clients.
Lynx has one professional trading platform that provides a stable and reliable trading environment along with a variety of trading tools and the professional guidance of the Lynx support team. It is available to use on desktop, web browser, tablet and mobile devices (Android & iOS).
Lynx Desktop Platform
The powerful desktop 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.
- Real-time streaming price information
- 100 markets from over 20 countries
- 60 different simple and advanced order types (limit orders, stop-limit orders, market orders, bracket, iceberg orders, etc)
- Trade from charts
- 80+ technical indicators for analysing the markets including Fibonacci
- Drawing objects for marking support/resistance and key price levels
- Multiple chart types (candlestick, bar and line charts) and timeframes
- Access to historical pricing
Lynx Mobile Trading App
The Lynx mobile trading app is 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.
- 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
Lynx Web Trading Platform
The simple Lynx web-based platform enables trading directly from most modern web browsers without needing to download or install any additional software. This can be useful for users who utilise multiple different devices and those who work behind a firewall and are conscious about the potential security implications involved with downloading third party applications.
The Lynx trading platform has a variety of analysis tools for every type of trading strategy to help users analyse the markets in a prompt and efficient manner. They can help spot trends and ranges, identify areas of support and resistance, key price levels and more.
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 over 80+ forex 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.
Through Lynx, you can access 100+ financial markets in more than 20 countries worldwide. This includes markets in Europe, America, Asia and Australia. Clients can trade in stocks, options, futures, forex, bonds, CFDs and ETFs. It should be noted that some countries have access to certain asset classes and others don’t.
The minimum deposit required to open an account with Lynx broker is €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. 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
Lynx broker have 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.
Lynx broker offer customer support via telephone and email. It would be preferable if they had an online chat options as some users my find this more convenient.
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 like Skrill or PayPal.
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 large variety 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.
Opening an account can be completed online. You need to fill out your personal information and complete a trading questionnaire to establish your suitability for the products and services offered. If you pass this test, you can then verify your account with a form of ID such as a passport or drivers license and also proof of address such as a bank statement or utility bill no more than three months old. Once your documents have been verified, you will be able to fund your account and begin trading.
|Broker Features||AvaTrade||IG||IC Markets|
|Regulated||ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA||FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF||ASIC, CySEC, FSA, SCB|
|Country||Australia, Ireland, South Africa, Japan, British Virgin Islands||Australia, UK, USA, Switzerland, UAE, Singapore, Japan||Australia, Seychelles, Bahamas, Cyprus|
|Min. Deposit||Min $250 Deposit||Min $100 Deposit||Min $200 Deposit|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs||Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile||MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile|
|Type||Market Maker, STP||STP, ECN, DMA||ECN|
|Funding||Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill||Wire Transfer, Credit/Debit Cards, PayPal||Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli|
|Visit Broker||Visit Broker||Visit Broker||Visit Broker|
Lynx broker offer competitive trading fees, a variety of trading tools and a range of global financial markets. They also have their own proprietary trading platform that is available across multiple devices and user friendly.
However, the funding options are extremely limited and the minimum deposit requirement is quite high compared to other brokers. Furthermore, they do not offer the popular MetaTrader platform and leverage is restricted.