BGL BNP Paribas Logo
BrokerChooser score
3.1
Written by: Gyula L. Updated: Dec 2022
Expert verified

BGL BNP Paribas review summary

BGL BNP Paribas is a Luxembourg-based broker. BGL BNP Paribas gives you access to a ~20 stock markets which is a good coverage. It also offers a high investor protection, €100,000. It has very high fees. The account opening is not user-friendly and it has also a high €50,000 minimum account balance, The research tools are limited.

BrokerChooser gave BGL BNP Paribas a 3.1/5 rating based on analyzing 500+ criteria and testing via opening a live account.

BGL BNP Paribas is a regulated broker, it is overseen by a top-tier financial regulator in Luxembourg . BGL BNP Paribas is also covered by investor protection and it offers negative balance protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.

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

BGL BNP Paribas pros and cons

Pros Cons
Good stock market coverage High fees
High investor protection Complicated account opening
Limited research tools

BGL BNP Paribas main highlights

🗺️ Country of regulation Luxembourg
💰 Trading fees class High
💰 Inactivity fee charged Yes
💰 Withdrawal fee amount $0
💰 Minimum deposit $49,500
🕖 Time to open an account >3 days
💳 Deposit with bank card Available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 11
🎮 Demo account provided No
🛍️ Products offered Stock, ETF, Fund, Bond, Options

BGL BNP Paribas review
Fees

0.7
BGL BNP Paribas has high trading and non-trading fees. As a plus, it has a transparent fee structure.
Pros Cons
Transparent fee structure High trading fees
High non-trading fees
BGL BNP Paribas fees snapshot
Assets Fee level Fee terms
US stock High Self Invest International: 0.75% of trade value, min €50
EURUSD - Not available
Mutual fund Average Self Invest International: 1.0%-2.0% of trade value for buy orders, exit orders are free
Inactivity fee Low €117 per half year after 18 months of inactivity

How we ranked fees

We ranked BGL BNP Paribas's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

In the sections below, you will find the most relevant fees of BGL BNP Paribas for each asset class. For example, in the case of stock investing the most important fees are commissions.

We also compared BGL BNP Paribas's fees with those of two similar brokers we selected, DEGIRO and LYNX. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of BGL BNP Paribas alternatives.

To have a clear overview of BGL BNP Paribas, let's start with the trading fees.

BGL BNP Paribas trading fees

BGL BNP Paribas trading fees are high.

Stock fees and ETF fees

BGL BNP Paribas stock and ETF fees for a typical trade are very high compared to other stockbrokers.

BGL BNP Paribas stock and ETF commission of a $2,000 trade
  BGL BNP Paribas LYNX DEGIRO
US stock $49.5 $5.0 $1.0
UK stock $49.5 $12.6 $3.1
German stock $49.5 $7.2 $4.9

Bond fees

BGL BNP Paribas has about the same high bond fees.

BGL BNP Paribas commission of a $10,000 government bond trade
  BGL BNP Paribas LYNX DEGIRO
US Treasury bond - $10.0 -
EU government bond $65.0 $16.8 $3.0

Non-trading fees

BGL BNP Paribas has high non-trading fees. There is an inactivity fee charged: €117 per half month after 18 months of inactivity.

BGL BNP Paribas non-trading fees
  BGL BNP Paribas LYNX DEGIRO
Account fee Yes No No
Inactivity fee Yes Yes No
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

 

BGL BNP Paribas review
Account opening

2.0
BGL BNP Paribas account opening needs improvement. It is user-friendly and fully digital. you can choose from accounts giving you access to banking products as well. However, the minimum deposit is very high.
Pros Cons
User-friendly Slow
Multicurrency account with access to banking products (card, insurance, term deposits) Not fully digital
Minimum deposit is higher than $500

Can you open an account?

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BGL BNP Paribas accepts clients from few countries. You can't open an account for example if you are a resident of the US, Iran, Cuba, Switzerland for example.

What is the minimum deposit at BGL BNP Paribas?

The required BGL BNP Paribas minimum deposit is €50,000.


Account types

At BGL BNP Paribas you can choose from an individual account or a joint account, in which the followings are available:

  • Current account
  • Investor account

Corporate accounts are not available at BGL BNP Paribas.

How to open your account

BGL BNP's account opening is fast and fully digital. Online registration takes only 10 minutes. Our account was only verified after three business days.

Saxo's account opening process consists of three steps:

  1. Complete a secure form

  2. Add your supporting documents

  3. BGL BNP Paribas assess your application.

  4. If approved, your account is open

To verify your identity and residency, you have to upload the following documents:

  • Proof of identity: national ID card / passport
  • Proof of residency: tax/bank statement 

Our best alternatives to BGL BNP Paribas are:

The highest ranking competitors are:

  1. LYNX full review
  2. DEGIRO full review
  3. flatex full review
  4. Comdirect full review

BGL BNP Paribas review
Deposit and withdrawal

3.8
You can use only bank transfer for ingoing and outgoing payments. As a plus, BGL BNP Paribas deposit is free of charge. However, it is not user-friendly.
Pros Cons
No deposit fee Not user-friendly
Only bank transfer

BGL BNP Paribas review
Web trading platform

2.6
The web trading platform offers a safe two-step login. It has also good search function and you can set order confirmation. But, it is not user-friendly and customizable. There is no clear fee report either.
Pros Cons
Two-step (safer) login Not user-friendly
Good search function No clear fee report available
Order confirmation Limited customizability (for charts, workspace)
BGL BNP Paribas platforms to choose from
Trading platform Score Available
Web 2.6 stars Yes
Mobile 3.1 stars Yes
Desktop - No

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BGL BNP Paribas review
Mobile trading platform

3.1
BGL BNP Paribas mobile trading platform offers two-step login and has a good search function. However, it has limited order types, there are no price alerts and the user-friendliness can be improved.
Pros Cons
Two-step (safer) login Not user-friendly
Good search function Limited order types
No price alerts

Interactive Brokers review - Web trading platform

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BGL BNP Paribas review
Desktop trading platform

BGL BNP Paribas review
Markets and products

3.4
BGL BNP Paribas gives you access to ~20 stock markets which is a good coverage. It also offers a wide range of mutual funds. Furthermore, you can trade with European bonds and options. On the flip side, there is no FX or CFDs.
BGL BNP Paribas asset classes
  BGL BNP Paribas LYNX DEGIRO
Stocks Yes Yes Yes
ETFs Yes Yes Yes
Forex No Yes No
Funds No Yes Yes
Bonds Yes Yes Yes
Options No Yes Yes
Futures No Yes Yes
CFDs Yes Yes No
Crypto No Yes No

 

BGL BNP Paribas review
Research

1.5
You can read analysis and use a good interactive charting. However, there are limited research tools and the available fundamental data is very basic.
Pros Cons
Good interactive chart No/limited set of analytic tools
Trading ideas Basic fundamental data missing for most stocks

Compare research pros and cons

BGL BNP Paribas review
Customer service

1.1
BGL BNP Paribas customer service needs improvement. There is no live chat and they give irrelevant answers. Furthermore, we have not received answers for our emails.
Pros Cons
English, French and German customer support No live chat
Irrelevant answers
Not reliable email support

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BGL BNP Paribas review
Education

0.0
BGL BNP Paribas does not provide education tools or a demo account.

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BGL BNP Paribas review
Safety

BGL BNP Paribas is regulated by the top-tier CSSF, the Luxembourgish financial regulator. It has a banking license and provides a €100,000 account protection. It is not listed on any stock exchange.
Pros Cons
Majority of clients belong to a top-tier financial authority Not listed on stock exchange
High level of investor protection Financial information is not publicly available
Banking background

Find your safe broker

BGL BNP Paribas review
Bottom line

BGL BNP Paribas has a good stock market coverage. It also offers a high investor protection amount which is a great sign for its security.

On the other hand, it has very high fees. The account opening is complicated and there is a €50,000 minimum required balance. Lastly, the research tools are limited.

Choose BGL BNP Paribas if you are an investor with higher amounts to invest and you want a broker from a top-tier financial jurisdiction.

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BGL BNP Paribas review
FAQ

We recommend BGL BNP Paribas for investors appreciating personal advisory services and other benefits offered by a large banking group.

Below you can find links to all aspects of BGL BNP Paribas in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our BGL BNP Paribas fees article.

What about the minimum deposit?

Our ultimate guide to the BGL BNP Paribas minimum deposit is updated regularly.

How to start your BGL BNP Paribas account?

Look no further than our evaluation of the BGL BNP Paribas account opening.

How's their trading app?

Here's our expert view after checking the BGL BNP Paribas trading app.

Is the quality of customer service satisfactory?

All you need to know about the BGL BNP Paribas customer service.

Legit or scam?

Is BGL BNP Paribas legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether BGL BNP Paribas is really free.

Is this broker good for beginners?

We checked it in Is BGL BNP Paribas good for beginners.

Should you buy your silver bullets on BGL BNP Paribas?

Research for silver bugs in the Silver buy on BGL BNP Paribas guide

I want to trade options, are they available at BGL BNP Paribas?

We explored the topic in Can you trade options on BGL BNP Paribas?

What is the minimum account balance at BGL BNP Paribas?

Check out the current account balance requirements at BGL BNP Paribas in our What is the minimum account balance at BGL BNP Paribas article.

Looking for commission and fees data for BGL BNP Paribas?

We collected them in BGL BNP Paribas commission and fees.

How do you withdraw money from BGL BNP Paribas?

We tested it and collected the options and costs in How to withdraw money on BGL BNP Paribas.

Author of this review

Gyula Lencsés, CFA

Author of this review

Gyula Lencsés, CFA 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 a 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 Lencsés, CFA 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 a 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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