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Brokerpoint Review 2024

Written by
Tekla C.
Fact checked by
Adam N.
Updated
1w ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
531 people chose this broker
Not available in United States; see best alternatives

Why choose Brokerpoint

Brokerpoint is a Germany-based global stockbroker for investors and traders.

It has low stock and ETF fees. Thanks to its link to Interactive Brokers, it covers a vast range of markets and products, and offers a multitude of great research tools on its sophisticated trading platforms.

Partly because of that, though, we recommend this broker mainly for advanced traders: the account opening process is complicated and the trading platforms are not so simple to use. In addition, customer service and education tools are almost nonexistent, which is a big drawback for beginners.

BrokerChooser gave Brokerpoint a 3.9/5 rating based on analyzing 600+ criteria and testing via opening a live account.

  • Low stock and ETF fees
  • Wide range of products
  • Many great research tools

Explore the key metrics of Brokerpoint

Overall score
3.9/5
Minimum deposit
$0
Stock fee
Low
FX fee
Average
Inactivity fee
yes
Account opening
>3 days

Not sure if this is the right broker for you? See the best ones.

See how the best brokers in the United States compare to Brokerpoint

EURUSD spread
Usual spread in pips

Fees

Score: 3.5/5
Brokerpoint has generally low trading and non-trading fees, including no deposit or withdrawal fees. However, fees for some products such as futures, options and some CFDs are high.
  • Low trading fees
  • Low stock and ETF fees
  • No withdrawal fee

We compared Brokerpoint's fees with two similar brokers we selected, CapTrader and TradeStation. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Brokerpoint alternatives.

Low stock and ETF commission

Brokerpoint US stock fees are about half of the industry average. US stock fees are calculated as follows: $0.01 per share for up to 2000 shares; $0.005 per share above that; min. $2

Broker
US stock
Brokerpoint
$2.0
CapTrader
$2.0
TradeStation
$5.0
Brokerpoint stock and ETF commission

Average FX fees

Brokerpoint charges a forex commmission: 0.8 pips * order volume . Spread costs come on top of this, e.g. the EUR/USD spread is 0.2.

Broker
EURUSD spread
FX commission per lot
Brokerpoint
0.2
0.8 pips * order volume
CapTrader
0.2
Trade value less than $1 billion: 0.3 bps * trade value; min. $3.75
TradeStation
-
FX not available
Brokerpoint forex spreads and commissions

To get a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

High options commission

Brokerpoint US stock index options fees are much higher than the industry average. US stock index options fees are calculated as follows: $2 per contract

Broker
US stock index options
Brokerpoint
$20.0
CapTrader
$35.0
TradeStation
$11.0
Brokerpoint stock index options commission

Low inactivity fee, no withdrawal fee

There is no account or deposit fee. However, Brokerpoint charges you an inactivity fee if you have any asset in your account and you don't execute a trade for a month. It's a $1 monthly fee, which is considered average compared to other brokers.

Broker
Inactivity fee
Withdrawal fee
Brokerpoint
$0
CapTrader
$0
TradeStation
$35
Brokerpoint inactivity, withdrawal and other fees

Other commissions and fees

Average mutual fund commission: trading mutual funds involves the following charges - $14.95 per transaction or 3% of trade value, whichever is lower.

High futures fees: US index futures fees are as follows - $2 per contract.

Low bond commission: US treasury bonds come with the following charges - For the first $10,000 face value: 0.002% of trade value with $5 min..

Low margin rates: the USD annual margin rate is 7.8%.

Broker
Mutual fund
US micro e-mini stock index futures
Brokerpoint
$15.0
$20.0
CapTrader
$15.0
$35.0
TradeStation
$15.0
$5.0
Misc. fees compared with other brokers

Safety

As an introducing broker of IB, Brokerpoint is covered by top-tier regulators, granting most clients strong protection. However, IB and Brokerpoint lack a banking background and Brokerpoint is not publicly listed, meaning less transparency.
  • Majority of clients belong to a top-tier financial authority
  • Negative balance protection
Read more

Deposit and withdrawal

Score: 2.6/5
Both depositing and withdrawing funds is free at Brokerpoint, and the process is user-friendly. On the negative side, bank transfer is the only option available.
  • Free withdrawal
  • No deposit fee
  • User-friendly
Read more

Account opening

Score: 2.5/5
Brokerpoint's account opening process is fully digital, without a required minimum deposit. However, the process is complicated and account verification is relatively slow.
  • Fully digital
  • No minimum deposit
Read more

Mobile app

Score: 3.8/5
Brokerpoint'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.
  • Two-step (safer) login
  • Good search function
  • Good variety of order types
Read more

Desktop platform

Score: 3/5
Brokerpoint's desktop platform offers great customizability and advanced order execution, but is not user-friendly and caters more to advanced traders.
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
Read more

Product selection

Score: 5/5
An extremely wide range of markets is accessible through Brokerpoint, and all product types are available.
Read more
“I recommend Brokerpoint for investors and traders from Europe interested in global markets.”

FAQ

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Author of this review

Tekla Csike
Tekla Csike

Tekla is a former intern and talent acquisition specialist at BrokerChooser. She is an aspiring young professional with a master's degree in psychology. As a writer, she aims to transform the sometimes daunting complexity of a topic to an easily understandable version, so the readers can feel the pleasant experience of learning constantly.

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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