BGL BNP Paribas Review 2019

2.8 3 stars · Dec 2018
Compare to best alternative broker
BGL BNP Paribas logo

BGL BNP Paribas is a Luxembourgish investment bank providing online trading and investments. BNP is privately owned, established in 1919, and headquartered in Luxembourg city.

BGL BNP Paribas is considered safe because it is regulated by the top-tier Luxembourg regulator, it has a banking license, and the investor protection amount is high.

Recommended for investors aiming for an account with large banking group and personal advisory services

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

As a plus

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.

On the flip side

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.

Compare to other brokers

BGL BNP Paribas review
Fees 1 stars

BGL BNP Paribas has high trading and non-trading fees. As a plus, it has a transparent fee structure.

Pros
  • Transparent fee structure
Cons
  • High trading fees
  • High non-trading fees
  • Withdrawal fee
  • Inactivity fee

BGL BNP Paribas Fees - a snapshot
Assets Fee level Fee terms
US stock fee High min €74
EURUSD fee - Not available
US tech fund fee High 0.5% of trade value, min €13
Inactivity fee Low No inactivity fee

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

Stock fees of a $2,000 trade
  BGL BNP Paribas Saxo Bank Internaxx
USA $84.4 $15.0 $19.0
UK $84.4 $11.6 $19.0
Germany $84.4 $13.7 $30.4

BGL BNP Paribas review
Account opening 0 stars

BGL BNP Paribas account opening needs improvement. On the bright side, you can choose from accounts giving you access to banking products as well. However, opening an account is not a piece of cake. It takes very long, even it can be two weeks. It is not user-friendly and not fully digital.

Pros
  • Multicurrency account with access to banking products (card, insurance, term deposits)
Cons
  • Slow account opening
  • Not fully digital
  • Minimum account balance higher than $500

BGL BNP Paribas review
Deposit and withdrawal 1 stars

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
  • Free deposit
Cons
  • Not user-friendly
  • Only bank transfer

Compare to other brokers

BGL BNP Paribas review
Web trading platform 2 stars

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
  • Two-step (safe) login
  • Good search function
  • Order confirmation available
Cons
  • Not user-friendly
  • No clear fee report available
  • Limited customizability (for chart, for workspace)

BGL BNP Paribas Platforms to Choose From
Trading platform Score Available
Web 2 / 5 stars Yes
Mobile 3 / 5 stars Yes
Desktop - No

Visit broker

BGL BNP Paribas review
Mobile trading platform 3 stars

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
  • Two-step (safe) login
  • Good search function
Cons
  • Not user-friendly
  • Limited order types
  • No price alerts available

Visit broker

BGL BNP Paribas review
Markets and products 2 stars

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 Saxo Bank Internaxx
Stock Yes Yes Yes
ETF Yes Yes Yes
Forex No Yes Yes
Fund No No Yes
Bond Yes Yes No
Options No Yes Yes
Futures No Yes Yes
CFD Yes Yes Yes
Crypto No Yes Yes

BGL BNP Paribas review
Research 2 stars

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
  • Good interactive chart
  • Analyst recommendations for stocks, bonds, etc.
Cons
  • No/limited set of analytic tools
  • Basic fundamental data missing for most stocks

Compare research pros and cons

BGL BNP Paribas review
Customer service 1 stars

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
  • English, French and German customer support
Cons
  • No live chat
  • Irrelevant answers
  • Not reliable email support

Visit broker

BGL BNP Paribas review
Education 0 stars

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

Visit broker

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
  • Regulated by top tier financial authority
  • High amount of investor protection
  • Banking background
Cons
  • Not listed on stock exchange
  • Limited disclosed financial information

Filter the brokers by investor protection

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.

Visit broker

BGL BNP Paribas logo

BGL BNP Paribas is a Luxembourgish investment bank providing online trading and investments. BNP is privately owned, established in 1919, and headquartered in Luxembourg city.

BGL BNP Paribas is considered safe because it is regulated by the top-tier Luxembourg regulator, it has a banking license, and the investor protection amount is high.

Recommended for investors aiming for an account with large banking group and personal advisory services

Compare to other brokers

Overall 3 stars

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

Fees 1 stars

Pros
  • Transparent fee structure
Cons
  • High trading fees
  • High non-trading fees
  • Withdrawal fee
  • Inactivity fee

Account opening 0 stars

Pros
  • Multicurrency account with access to banking products (card, insurance, term deposits)
Cons
  • Slow account opening
  • Not fully digital
  • Minimum account balance higher than $500

Deposit and withdrawal 1 stars

Pros
  • Free deposit
Cons
  • Not user-friendly
  • Only bank transfer

Web trading platform 2 stars

Pros
  • Two-step (safe) login
  • Good search function
  • Order confirmation available
Cons
  • Not user-friendly
  • No clear fee report available
  • Limited customizability (for chart, for workspace)

Mobile trading platform 3 stars

Pros
  • Two-step (safe) login
  • Good search function
Cons
  • Not user-friendly
  • Limited order types
  • No price alerts available

Markets and products 2 stars

The available asset classes to trade:

  • Stock
  • ETF
  • Fund
  • Bond
  • Options

Research 2 stars

Pros
  • Good interactive chart
  • Analyst recommendations for stocks, bonds, etc.
Cons
  • No/limited set of analytic tools
  • Basic fundamental data missing for most stocks

Customer service 1 stars

Pros
  • English, French and German customer support
Cons
  • No live chat
  • Irrelevant answers
  • Not reliable email support

Safety

Pros
  • Regulated by top tier financial authority
  • High amount of investor protection
  • Banking background
Cons
  • Not listed on stock exchange
  • Limited disclosed financial information

AUTHOR OF THIS REVIEW

Gergely Korpos
Gergely Korpos
Co-founder, CPO
Gergely's aim is to bring more clarity into personal investing. He has 10 years of experience in financial markets with GE Money, KPMG and MOL. He concluded thousands of trades as a commodity trader and financial portfolio manager

METHODOLOGY

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

Follow Brokerchooser on Twitter

Share

Comments