ARMO Broker Logo
Written by: Gyula L. Updated: Dec 2022
Expert verified
Recommended for
  • equity trading
Trusted broker
Regulated by top-tier financial authorities
Popularity
969 people chose this broker in the last 6 months
BrokerChooser Score
4.2/5

ARMO Broker review summary

ARMO Broker is a Germany-based global stockbroker for investors and traders. Thanks to its link to Interactive Brokers, ARMO Broker provides access to a wide range of products and offers several great research tools. Also, it has an easy-to-use and well-designed web trading platform. We recommend this broker mainly for advanced traders because the account opening process is complicated and the desktop trading platform is not so simple to use. In addition, the broker charges high fees for derivatives products, such as options and futures. BrokerChooser gave ARMO Broker a 4.2/5 rating based on analyzing 500+ criteria and testing via opening a live account.

ARMO Broker is a regulated broker, it is overseen by top-tier financial regulators in multiple countries . ARMO Broker is also covered by investor protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.

You can't open an account at ARMO Broker if you live in United States. See the best alternative available in your country.

ARMO Broker pros and cons

Pros Cons
Wide range of products Complicated account opening process
Many great research tools Complex desktop trading platform
Easy-to-use web trading platform High options and futures fees

ARMO Broker main highlights

🗺️ Country of regulation USA, Ireland, UK, Luxembourg, Hungary, India, Australia, Canada, Japan, Hong Kong, Singapore
💰 Trading fees class Average
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $1,980
🕖 Time to open an account 1-3 days
💳 Deposit with bank card Not available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 20
🎮 Demo account provided Yes
🛍️ Products offered Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto
To read much more details about the broker's services and features, expand on the sections below.

ARMO Broker review
Fees

3.7
ARMO Broker has low stock and ETF fees and charges no inactivity fee. On the other hand, the fees for trading options and futures are high.
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ARMO Broker review
Account opening

1.7
ARMO Broker's account opening process is fully digital. However, there is a high minimum deposit and the account opening process is a bit complicated.
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ARMO Broker review
Deposit and withdrawal

3.5
ARMO Broker offers one free withdrawal per month and has a decent selection of account base currencies. However, it doesn't accept credit/debit cards or electronic wallets.
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ARMO Broker review
Web trading platform

4.5
ARMO Broker's web trading platform is user-friendly, has a clear fee report and is accessible via a safe two-step login process.
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ARMO Broker review
Mobile trading platform

3.5
ARMO Broker's mobile trading platform has a safe two-step login, and comes with a good search function and multiple order types. However, beginners may find it too complex.
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ARMO Broker review
Desktop trading platform

3.0
ARMO Broker's desktop platform offers great customizability and advanced order execution, but is not user-friendly and caters more to advanced traders.
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ARMO Broker review
Markets and products

5.0
Through ARMO Broker, you can access a wide range of markets, and all product types are available to trade.
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ARMO Broker review
Research

5.0
The quality of research available at ARMO Broker is good, with a wide range of available tools.
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ARMO Broker review
Customer service

3.9
ARMO Broker's customer service is good, providing useful answers by phone and meaningful responses via email. However, there is no live chat option or 24/7 support.
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ARMO Broker review
Education

4.0
ARMO Broker offers some educational materials and tools on its website, but only in German. You can also open a demo account. However, the materials are not well-structured and there are no educational articles.
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ARMO Broker review
Safety

As an introducing broker of IB, ARMO Broker is covered by top-tier regulators, granting most clients strong protection. However, IB and ARMO lack a banking background and ARMO is not publicly listed, meaning less transparency.
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ARMO Broker review
Bottom line

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ARMO Broker review
FAQ

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Author of this review

Gyula Lencsés, CFA

Author of this review

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex and derivatives markets.

Gyula Lencsés, CFA

Head of Content

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex and derivatives markets.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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