LYNX broker review Review

LYNX is a Netherlands-based stockbroker founded in 2006, your deposited funds will be held by Interactive Brokers, but the fees are charged by LYNX. They offer instruments such as ​​Stocks, Options, Futures, Forex, Bonds, CFDs and ETFs. LYNX has accumulated many awards and is regulated by AFM and DNB. You can open a demo account on the desktop platform.

What can be traded

With LYNX you have access to over 100 markets in over 24 countries. Check on their website which products are available for your country. They offer:

• Stocks
• Options
• Futures
• Structured products
• Currency
• CFD`s
• ETF`S
• Bonds

Broker regulation

As shown on their website: “As a financial institute in the Netherlands, LYNX is regulated by government agencies established for that purpose: De Nederlandsche Bank (DNB) and the Dutch Authority for the Financial Markets (AFM).” But, LYNX is not listed on an exchange and publishes only limited financial information.

Demo account

A demo account is one of the best ways to learn. It’s a virtual account mirroring the live one. You can learn on a real platform with virtual money, that is pre-loaded. Demo accounts are usually free and unlimited, but each broker has different conditions, so don’t forget to check them out. I found no mention of the demo account on their website. I tried to go to “Open Account” to see if the option to open a demo is there. You can choose which country you`re from, but nothing about a demo account.

After choosing the country you are from, you get to a website in your language. I had to surf around a bit there but finally found the option to go to a demo account. The LYNX demo account is free of charge, you get virtual credit up to $ 1,000,000 for free and Buying and selling securities such as stocks, options and futures under real-world conditions.

Broker fees

They have low trading fees for stocks, ETFs and funds, but its options fees are high and it also charges an inactivity fee. All prices and fees are transparent on their website.

Registration

To register you need to choose the country you`re from. Then you`re taken to another website in your language, where you have fees, accounts and tools explained thoroughly and in the top right corner, there is a permanent button for you to click to open an account. I`ve chosen to go for a demo account. A short-form pops up, where you need to fill in your name, email and telephone number. You can opt-in or out of newsletters. Filled in a minute and a confirmation email flew into my email in a second. Done.

Trading platforms

The web trading platform is simple and easy to use, with multiple order types and clear fee reports. For the demo account, I had to download the platform. It took a bit too long to log into a demo account. They have a web, mobile and desktop platform available and offer two web trading platforms: LYNX Basic and Account Management. In this review, I`ve gone for LYNX Basic.  It is well-designed but lacks customizability and a two-step login. The search functions are fine, but you don’t get price alerts. In the platform you have a Quickstart option, that helps you around.

Broker website

The website is nice and clean, functional. The colours were chosen – green and white works fine. The main page explains why to choose LYNX and at the top, you have the main menu. Chose from:

• Products and markets
• Fees
• Software and tools
• About LYNX
• Contact

You can open a demo account, but most educational material is only available in local languages. There are webinars and some quality educational articles. These are available only in a few languages.

Social networks

They are active on Facebook, Twitter, Linked In and YouTube. Facebook is out of date, the last post is a year and a half old and they have around 5000 followers. I found the same on Twitter. A year and a half old post and 5K of followers. There are quite a few videos on YouTube so you can catch up on education and news there.

Advantages and disadvantages of LYNX

Lynx offers competitive trading fees, a wide variety of trading tools and a range of global financial markets. They also have their own proprietary trading platform that is available on mobile, web, desktop and is user friendly. The deposit and withdrawal options are limited and the minimum deposit is a massive €3 000, there is no chatbot and social networks are out of date.

Pros:

• Regulated
• Demo account
• Good customizability of the platform
• Low stock and ETF fees

Cons:

• Social networks inactive
• High deposit
• No 24/7 support
• Educational support insufficient

Our Score

LYNX is a Netherlands-based stockbroker founded in 2006, your deposited funds will be held by Interactive Brokers, but the fees are charged by LYNX.

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