In our Lynx Broker review 2020 you’ll get to see why this is a good option for crypto trading. This Dutch online broker gives you a great way to trade on the value of cryptocurrencies like Bitcoin and Ethereum without you having to buy the asset.
Plus, our Lynx Broker review also found that the site gives you the option for other kinds of investment trading such as ETFs, stocks options, futures, currencies and so on. The brand was founded in 2006 and has become popular in many European nations, but it may not be available in other nations such as Australia, Canada, the US and more. So read our detailed Lynx Broker review 2020 to see what this site has to offer.
Pros & Cons of Lynx Broker
- Award-winning and licensed online broker
- Easy way to trade on the value of top cryptos
- Extensive investment options such as stock and currencies
- Free accounts and low commission rates
- Not available in key markets such as the US, Canada and more
Our Lynx Broker review found that this is definitely one of the more user-friendly trading sites. Some online brokers like to pack out their websites with more information and details than you would ever need. But the Lynx Broker site benefits from a more stripped-back approach. This means that the brand’s website enjoys fast page loading times, and you’ll also enjoy simple ways to navigate around the trading platform.
The fact that over 60,000 people in more than 10 nations have successfully opened accounts and started trading at Lynx Broker should give a good idea of what to expect from this brand. Our Lynx Broker review 2020 found that the site featured a pleasing green, white and black colour scheme, and that everything was easy to read and clearly labelled.
However, we have to admit that we found it a little less straightforward to find information about the Lynx Broker crypto trading service. But once you download the Lynx trading platform and open up the Lynx trader tools, you’ll find that it makes it easy to manage your investments. Plus we should note that Lynx has developed some excellent trading apps that are available for both iOS and Android mobile devices.
How To Trade
Lynx Broker has ensured that you get a straightforward way to enjoy its online trading platform. The first thing that you will need to do will be to open your account. You’ll have to click on which country you are resident in and the language used will be tailored to your selection.
From here you have to enter in personal information like your name, email address, mobile number and select what account type you prefer. After this, you have to make your product selection.
Then it’s a case of either downloading the Lynx trading platform or using the Lynx basic web browser trader. Once this is in place, you will have to make an opening deposit of at least €3,000 via bank transfer. After the funds are in your account, you can simply use the software to trade on the price rises and falls of the relevant cryptocurrencies.
So far our Lynx Broker review has generated some fairly positive results. However, things came a little unstuck when it came to making deposits and withdrawals. This is because the broker requires you to make a minimum deposit of at least €3,000 for creating an account. Such an amount is far higher than you may find at other rival online brokerages. Plus you will need to have a total portfolio value of at least $2,000 to trade in options, futures and US shares.
We should also note that Lynx will only allow you to make deposits via bank transfer. This is at odds with many other online brokers who allow you to add funds to your account with a variety of credit cards, debit cards, e-wallets and even prepaid vouchers. Thankfully, it should only take up to a couple of banking days for the money to show up in your account.
You will also only be allowed only one free withdrawal per month from Lynx Broker. Our Lynx Broker review 2020 found that you can withdraw either via bank transfer or the SEPA payment method.
Our Lynx Broker review 2020 found that the online broker offers very low trading fees. These cover everything from cryptos and stocks, to options, futures, forex and all of the brand’s other products. This is important as high transaction costs could have a damaging impact on the overall success of your investment strategy.
The individual tariffs will vary according to the country that you opened your Lynx Broker account from. However, it’s important to note that the brand’s fees have won multiple comparison tests from several authoritative sources. Plus you can set up your account free of charge, and our Lynx Broker review 2020 found that there was no custody or service fee.
Generally, you should be able to buy and sell US stocks with fees from as little as $5 at a time. The same $5 fee rate should also apply to trades on ETFs. However, you should be able to trade on options for as little as €3 at Lynx Broker.
Customer support is an incredibly important part of any Lynx Broker review. This is because you never know when you might need some help with your online trading. Thankfully, we discovered that the broker has given you some simple ways to get in touch with its customer support team.
By clicking on the Contact tab you’ll get to see the email address that can be used for sending queries to the customer service representatives. There is also a telephone number, although we should note that this is only based in the Netherlands.
Sadly there was nothing in the way of live chat at Lynx Broker. Plus our Lynx Broker review 2020 couldn’t find any information about when the brand’s customer service was operational. However, you should know that the broker is very active on its Facebook and Twitter social media channels which means that you have another fairly straightforward way to get any queries resolved.
Discussing licensing may not be the most exciting part of a Lynx Broker review. But it’s essential to know that you will be trading at a broker site that offers a fully regulated and legal financial trading service.
Our Lynx Broker review 2020 found that this brand is a limited liability company that is incorporated under Dutch law. Lynx Broker has a valid license from the Dutch Authority for Financial Markets to provide its investment services, and is registered at the country’s Chamber of Commerce. You should also know that Lynx Broker has successfully held a financial trading license since 2007 and has so far avoided any problems regarding its regulation.
The Lynx Broker site has an entire section that is dedicated to your protection and security. This reveals how your money will be kept in separate accounts from that of the broker. Plus your portfolio will be insured up to $500,000. And with a variety of security measures to prevent unauthorised access to your account, your personal details should be kept safe at this fully encrypted trading site.
Reputation and Customer Feedback
Lynx Broker has received plenty of praise over the years. This started when the broker was awarded the Best Newcomer by a Dutch trading review site in 2007. From here Lynx Broker quickly picked up the award for being the Best Broker in the Netherlands by 2011. The brand has won many awards for being the best broker, and its customer support was singled out by a finance magazine for providing the best service for two years running. All of which shows that there are plenty of positive Lynx Broker reviews out there.
Our Lynx Broker review 2020 has found that this site gives you a quick and easy way to invest in the value of some top cryptocurrencies. If you are into the complexities of crypto mining software, then you may find the Lynx Broker service a little simplistic. But if you are merely looking for a swift and safe way to trade on the market fluctuations of Bitcoin and Ethereum, then Lynx Broker should be worth a look.
However, it’s not a broker without any drawbacks. You can only open a Lynx Broker account if you are resident in a handful of European countries. Plus we found the minimum deposits too high, and we would have liked to have seen more payment methods made available. But on the whole, it was a largely positive Lynx Broker review, and we look forward to seeing where the trading platform goes from here.