Lynx Review

Overview

Lynx is a broker that has been on the market since 2006. It is an online broker that has plenty to offer to its clients. Not only does it have a lot of markets available, but it also features many trading and proprietary platform tools.

The Forex broker is an introducing broker for Interactive Brokers, so that means the money people deposit in order to use for trades will be held at Interactive Brokers.

Although the company seems to be very experienced mainly due to the years it has been on the market, you may still have some concerns. More specifically, you may be worried that the platform is not safe, despite everything that it promises to its users. Well, we are here to look into these things and tell you whether you should be concerned or whether Lynx is safe to use.

Who Is Lynx for?

Lynx is a great platform for traders who are more experienced, but also for beginners in some aspects. On one hand, experienced traders will have an easier time using the platform because it is very complex, and it is easier to understand only as long as you know a little bit about trading.

However, there is no MetaTrader platform, as it has a proprietary platform instead.

On top of that, it has a high minimum deposit, which only makes it ideal for people who spent years trading and are ready to spend larger amounts for it. It is also recommended for people who have a higher income.

As for beginner traders, the advantage for them is the fact that they have a wide range of products and markets, which introduces them to trading and teaches them a lot about the industry.

They will also have more options to choose from. And since the mobile platform is so amazing, they will not have to stay glued to the computer all the time considering they are just getting started. All they have to do is grab their phone and start trading. Also, there is a demo account available, making it even easier for a newbie to get started.

Things We Like

We found it amazing that Lynx worked on their mobile platform, making sure that they develop something user-friendly for everyone. We think it is important to make a mobile platform as great as the desktop or web ones since not everyone has the time or possibility to use a computer or laptop at all times.

Another great thing is the fact that the ETF and stock trading fees are very low. This way, there won’t be any extra costs, leaving more money for investments. The market and product range has a lot of variety as well, and we like this aspect a lot. This is what allows people to choose something convenient for them. It also allows traders to diversify their portfolios.

Things We Don’t Like

The minimum deposit is very high, sitting at €3,000. Some traders may be able to afford this, but newcomers and people with a lower income will not have the possibility to start trading under these conditions. This is one of the biggest downsides regarding Lynx.

Another aspect that we disliked was how limited the withdrawal and deposit options were. There are people who may only be able to use one specific method for personal reasons or due to how things work in their jurisdiction. Not offering enough methods makes it harder for them to deposit and withdraw money.

The desktop platform is also overly complex, and unless someone spent a lot of time trading and knows how things work, they will barely understand what’s going on.

Pros / Cons
  • The mobile platform is amazing
  • Its ETF and stock trading fees are very low
  • There is a large variety of products and markets
  • The minimum deposit is very high
  • The desktop platform is way too complex
  • An inactivity fee will be charged

Safety and Regulation

Is Lynx safe? This is a question you may have on your mind before using the platform. Well, here is some information you should know:

Who Is Lynx?

Lynx is a stockbroker based in the Netherlands and was founded in 2006. They have more than 50,000 clients in several countries in the world, and they offer worldwide investments on more than 100+ exchanges in Australia, Europe, America, and Asia. It was founded by Rogier Groen and Jeroen Kramer and it is an introducing broker for Interactive Brokers. Basically, this means that the funds that you deposit are held at Interactive Brokers.

What Lynx wants to do is offer transparent trading services and products.

Is Lynx Regulated?

Lynx is a regulated platform. The regulatory authorities are the Dutch Central Bank and the Netherlands Authority for the Financial Markets.

Lynx Licenses

  • Authorized by the Netherlands Authority for the Financial Markets

Is Lynx Safe or a Scam?

Lynx has been around since 2006, and because of that, it is considered very safe by many. What’s great is the fact that clients have negative balance protection, but also a high level of investor protection. The investor protection aspect may be a bit complicated because it depends solely on the products you decide to trade. Besides, most clients belong to a top-tier financial authority.

There are also a few bad aspects regarding the safety of the platform. First of all, it is not listed on the stock exchange. Secondly, it doesn’t have any banking license either. The financial information is also not available publicly, which is a little bit of a red flag.

Countries It Accepts Clients from

The broker is available in more than 9 countries. Some of them are Belgium, Germany, Finland, Slovakia, Poland, Switzerland, France, and the Netherlands. Their main market is the European Union, so most countries allowed to trade with it are from Europe.

Awards

Since Lynx has been on the market for so many years, they also won multiple awards. Some of these awards are the Best Broker in the Netherlands and Best Online Broker. Moreover, the customer service team won the Best Service Award from CASH Magazine. In fact, they won this award for two consecutive years.

Range of Offerings and Products

Lynx is amazing when it comes to the markets and products it offers. You can trade Forex, stocks, ETFs, bonds, funds, futures, options, CFDs, and cryptos. So, there are a lot of opportunities to diversify your portfolio, but also to make sure you get to trade something you are interested in. Due to the fact that you can find everything here, Lynx is suitable for different types of brokers.

Leverage Offered

The leverage is pretty restricted with Lynx. You can also get leverage depending on the type of account you choose. For instance, Cash Accounts come with no leverage, whereas Margin Accounts come with leverage. They are only accessible for traders who are older than 21, though.

Trading Platforms

Lynx has a web trading platform that brings a lot of order types, as well as a clear fee report. It is easy to use and because of that, it’s very user-friendly. Sadly, it has no price alerts and no 2-step login. The customizability is limited too.

The desktop platform is not the best either. While there are many order types and a clear fee report, as well as good customizability, there is still no 2-step login, and the platform is not as user-friendly. Moreover, it is not even fully translated into English.

The mobile platform is the best one out of the 3. It works amazingly and the search function is great. You have multiple order types too, as well as a safe 2-step login. The only downside is the complexity of the user interface.

Account Types

Lynx has three account types available, respectively individual, joint, and corporate accounts.

Demo Account

A demo account is available too, allowing you to try out Lynx before getting started.

Deposits and Withdrawals

Unfortunately, you can only make deposits using bank transfers. Cards and e-wallets are not available. The good part is the fact that you have 20 base currencies. You also have no deposit fee.

What Is Lynx Minimum Deposit?

Lynx requires a minimum deposit of €3,000. It is one of the highest deposits on the market.

Withdrawals

Withdrawals can also only be done using bank transfers, which is disappointing.

Lynx Promotions

There is no information available regarding offers and/or discounts, so Lynx doesn’t have any promotions at the moment.

Client Support and Education

Lynx is decent in terms of education. It has a demo account and offers some educational articles and webinars. Some of these materials are only available in local languages as well.

But there are no educational videos and no trading platform tutorial videos.

Verdict – Overall Rating

Lynx is a good platform with a lot of products and services, as well as great customer service. However, it is not for everyone, as its platform may be too complex, and its educational content is not that amazing. The minimum deposit is also quite high. If you are an experienced trader, though, the platform may be good for you.

Methodology

All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. Our reviews and overall scores are based on the key areas above, in a combination with our opinion and commentary.

The reviews are shared and discussed with the brokers, but the authors of our website always have the final word. Furthermore, we always strive to keep the information on our website updated and relevant for our readers.

What helps us stand out is that we always test our brokers with an anonymous live account, to ensure we deliver the most accurate information and experience to our readers. Finally, our reviews and evaluation are always independent of any financial compensation we may receive from the brokers.

Risk Disclaimer

There is a very high degree of risk involved in trading securities.

With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.

All investments involve risks and are not suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against the loss, in a down market.

There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing. More details here.

Looking for more information on brokers and trading? Have a look at our trading guides:

Review Sources

  1. https://www.lynxbroker.com/
lynx

LYNX Broker is an online brokerage house created in 2006 and based in the Netherlands. It is also an introductory broker for Interactive Brokers.

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