Brokerpoint is a global stockbroker that was founded in Germany in 2017. It is regulated by Germany's Federal Financial Supervisory Authority (BaFin).
It is an introducing broker to Interactive Brokers (IB), one of the largest brokers in the world:
- The account opening and deposit/withdrawal options are very similar to Interactive Brokers.
- The trading platforms and available products are exactly the same as at Interactive Brokers.
- Fees, however, are charged by Brokerpoint, not by Interactive Brokers.
- Brokerpoint offers its own customer support, but has no educational tools.
Brokerpoint is considered safe because it is regulated by a top-tier financial authority, BaFin.
Brokerpoint pros and cons
Brokerpoint 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 non-existent, which is a big drawback for beginners.
|• Low stock and ETF fees||• Weak customer service|
|• Wide range of products||• High forex fees|
|• Many great research tools||• No educational tools|
|🗺️ Country of regulation||Germany|
|💰 Trading fees class||Low|
|💰 Inactivity fee charged||Yes|
|💰 Withdrawal fee amount||$0|
|💰 Minimum deposit||$0|
|🕖 Time to open an account||>3 days|
|💳 Deposit with bank card||Not available|
|👛 Depositing with electronic wallet||Not available|
|💱 Number of base currencies supported||3|
|🎮 Demo account provided||No|
|🛍️ Products offered||Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD|
Brokerpoint has low trading and non-trading fees, including no deposit or withdrawal fees. On the other hand, fees for funds, futures and CFD trading are high.
|• Low trading fees||• High CFD fees|
|• Low stock and ETF fees||• High futures fees|
|• No withdrawal fee||• High options fees|
|Assets||Fee level||Fee terms|
|US stock||Low||$0.01 per share for up to 2000 shares; $0.005 per share above that; min. $2|
|EURUSD||Low||0.8 pips * order volume|
|Mutual fund||Average||$14.95 per transaction or 3% of trade value, whichever is lower|
|Inactivity fee||Low||$1 monthly inactivity fee, if you have asset on your account|
How we ranked fees
We ranked Brokerpoint'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.
- Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
- Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.
In the sections below, you will find the most relevant fees of Brokerpoint for each asset class. For example, in the case of stock investing the most important fees are commissions.
We also compared Brokerpoint's fees with those of two similar brokers we selected, CapTrader and TradeStation. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Brokerpoint alternatives.
To have a clear overview of Brokerpoint, let's start with the trading fees.
Brokerpoint trading fees are low. The fee structure is mixed, with Brokerpoint charging volume-tiered fees in most cases.
Stock fees and ETF fees
Brokerpoint has generally low stock and ETF fees, which are mostly lower than at the selected competitors.
Brokerpoint's stock trading fee is volume-based: it is calculated either per share or as a percentage of the trade value, with a minimum amount. The trading fees for ETFs are the same as for stocks.
|USA||Up to 2,000 shares: $0.01 per share
From 2,001 shares: $0.005 per share
|Canada||Up to 2,000 shares: CAD 0.02 per share
From 2,001 shares: CAD 0.01 per share
|Singapore||0.15%||SGD 5 ($5)|
If you prefer stock trading on margin, you should check Brokerpoint's margin rates.
Trading on margin basically means that you borrow money from your broker and can purchase more shares than you could with just the available cash in your account. You have to pay interest on this borrowed money – the interest rate is called the margin rate. It can account for a significant portion of your trading costs.
Brokerpoint margin rates are low.
|USD margin rate||1.6%||2.6%||9.5%|
|GBP margin rate||1.5%||2.5%||-|
|EUR margin rate||1.5%||2.5%||-|
Brokerpoint forex fees are low.
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.
|EURUSD benchmark fee||$6.8||$13.7||-|
|GBPUSD benchmark fee||$7.3||$11.9||-|
|AUDUSD benchmark fee||$9.3||$11.8||-|
|EURCHF benchmark fee||$6.7||$11.0||-|
|EURGBP benchmark fee||$10.2||$13.5||-|
When you trade forex, Brokerpoint charges a volume-based commission. The commission is 0.8 pips times the order volume for every currency.
Brokerpoint fund fees are average.
We must note that Brokerpoint's fund fee structure is not transparent, therefore the below are assumptions based on IB's fund fees.
Brokerpoint has overall average bond fees.
We must note that Brokerpoint's bond fee structure is not transparent, therefore the below are assumptions based on IB's bond fees.
|US Treasury bond||$5.0||$5.0||$20.0|
|EU government bond||$10.0||$10.0||-|
Brokerpoint options fees are high.
|US stock index options||$20.0||$35.0||$10.0|
|UK stock index options||$39.0||$45.5||-|
|German stock index options||$22.7||$24.0||-|
You pay options fees depending on the number of contracts you trade, without a minimum or maximum charge in most cases.
|Market||Options fee (per contract)|
|Sweden||1.5% of the commercial value, at least SEK 30|
|Hong Kong||HKD 20|
|South Korea||0.4% of the commercial value, at least KRW 2,000|
Brokerpoint futures fees are high.
|US micro e-mini stock index futures||$20.0||$35.0||$5.0|
|UK stock index futures||$39.0||$45.5||-|
|German e-mini stock index futures||$22.7||$24.0||-|
Similarly to options, you pay a commission based on the number of contracts you trade.
|Market||Futures fee (per contract)|
|Sweden||1.5% of the commercial value, at least SEK 30|
|Hong Kong||HKD 20|
|South Korea||KRW 7,000|
Brokerpoint has high CFD trading fees.
To have a clear understanding of CFD fees we calculated a CFD benchmark fee for the selected products. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.
|S&P 500 index CFD fee||$4.8||$5.0||-|
|Europe 50 index CFD fee||$5.5||$6.0||-|
|Apple CFD fee||$6.9||$3.2||-|
|Vodafone CFD fee||$11.6||$11.9||-|
We calculated with 20:1 leverage for stock index CFDs and 5:1 leverage for single stock CFDs.
Warrants and certificates fees
At Brokerpoint, you can also trade warrants and certificates.
|Hong Kong||HKD||0.10%||HKD 20|
Brokerpoint has low non-trading fees. 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 low compared to other brokers.
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||• Slow|
|• No minimum deposit||• Not user-friendly|
Can you open an account?
It is unclear from the website which countries' clients can open an account at Brokerpoint, and we were unable to find out more information from the broker. However, since Brokerpoint is an introducing broker to IB and the account opening process is similar to IB's, it is likely that the same terms apply: as IB is present on every continent, you can most likely open an account. At IB, only countries with highly unstable political or economic backgrounds are excluded, such as North Korea.
What is the minimum deposit at Brokerpoint?
The required Brokerpoint minimum deposit is $0.
Brokerpoint offers many account types, which differ according to ownership and the services provided.
Account types based on ownership
Brokerpoint account types fall into two big groups based on account ownership:
- accounts for individual traders and investors
- accounts for institutions
As an individual trader or investor, you can choose from many different account types. A few of these, like the IRA account, are available only for US clients.
|Account type||Short description|
|Individual||Owned and used by a single individual|
|Joint||Owned and used by two individuals|
|Trust||Held by a Trustee (separate legal entity) for your benefit|
|IRA||Individual retirement account (only available for US clients)|
|UGMA/UTMA||For clients who are minors (only available for US clients)|
|Friends and Family||For a client group of up to 15 members|
|Family Office||For an individual who is a Family Office Manager|
|Small Business||For small corporations|
|Advisor||For an individual who manages both client administration and the client's money|
|Money Manager||For an individual who is hired on behalf of another advisor|
After you selected the type of ownership account, you can choose between a Cash, Portfolio Margin or Reg T Margin account.
How to open your account
The account opening process is fully digital but overly complicated. Following your online registration you have to wait for account verification, which takes more than 3 business days. It is slower than the usual account verification time for most brokers.
First, you have to go through a 5-step registration process, which takes roughly an hour. We experienced a few bugs and errors throughout the process, such as disappearing information and various error messages. It was a complicated process, with often confusing and unclear messages.
During the account opening process, you have to provide some personal information and there are also questions about your trading experience.
At the end, you have to verify your identity and residency by uploading the required documents:
- Verification of identity: passport / national ID / driver's license
- Verification of residency: bank statement / utility bill / driver's license / credit card statement / other document
This is a standard process called KYC (know-your-customer) in the financial world. These steps are required to make sure you are truly identifiable.
The account opening process is the following, step by step, including the types of information you have to provide:
1. Personal information
- Contact information
- Tax residency
- Security questions
2. Regulatory information
- Assets and income
- Investment objectives
- Investment experience
- Trading countries
- Self-certification of tax residences
3. General disclosures
- General agreements and disclosures
- Transfer and transaction type
- Making a cash deposit (optional)
5. Application status
- Upload the required documents
- Start trading within a few business days!
Deposit and withdrawal
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||• Credit/Debit card not available|
|• No deposit fee||• Limited number of base currencies|
At Brokerpoint, you can choose from 3 base currencies. These are: EUR, USD, CHF.
This is not the most competitive selection on the market compared to the selected competitors.
|Number of base currencies||3||5||9|
Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee.
A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.
Deposit fees and options
Brokerpoint deposits are free of charge. However, deposit options are limited, as only bank transfer is available: neither credit/debit cards nor electronic wallets can be used.
A bank transfer can take several business days, while payment with a credit/debit card is instant.
Also, you can only deposit money from accounts that are in your name.
Brokerpoint withdrawal fees and options
Brokerpoint charges no withdrawal fees. Similarly to deposits, you can only use bank transfer to withdraw funds.
How long does it take to withdraw money from Brokerpoint? We tested the bank transfer withdrawal and it took 2 business days.
You can only withdraw money to accounts in your name.
How do you withdraw money from Brokerpoint?
- First, log in to your account and go to 'Transfer & Pay' and then select 'Transfer funds'.
- Select the account you want to use for the transaction.
- At the top of the page, click on the 'Withdraw Funds' tab.
- Select the currency of your withdrawal, then the withdrawal method.
- Provide the required information.
- Submit your withdrawal request.
- You can see the status of your request in 'View Transaction History'.
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Web trading platform
Brokerpoint's WebTrader platform is user-friendly, has a clear fee report and is accessible via a safe two-step login process.
|• Clear fee report|
|• Two-step (safer) login|
The web trading platform is available in English, German, Spanish, French, Italian, Russian, Simplified Chinese, Japanese and Traditional Chinese.
Look and feel
The Brokerpoint web trading platform is user-friendly. The platform is customizable.
Login and security
Brokerpoint provides a two-step login, what is a good sign for safety.
The search function is easy to use and works better than on the desktop platform.
All you have to do is start typing the name of the asset you're looking for, and you will see a list of relevant exchanges and products. The search field can be found in the upper-right part of the screen.
There are many order types available in the WebTrader platform: Limit, Market, Stop, Stop Limit, Limit-on-Close, Market-on-Close, Mid price.
To get a better understanding of these terms, read our overview of order types.
There are also order time limits you can use: Day, Good-til-Canceled (GTC), At the Opening.
Alerts and notifications
At Brokerpoint, you can set price alerts using the bell icon (🔔).
Portfolio and fee reports
Portfolio and fee reports are transparent. The portfolio tab gives a clear overview of your performance, including your historical profit/loss balance and the fees you paid.
Mobile trading platform
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||None|
|• Good search function|
|• Good variety of order types|
The mobile trading platform is available in English, German, Spanish, French, Italian, Russian, Dutch, Turkish, Simplified Chinese, Traditional Chinese and Japanese.
Look and feel
The Brokerpoint mobile trading platform is OK.
Login and security
Brokerpoint provides a safe login for its mobile platform.
You can log in using biometric authentication, which is a convenient feature.
The search functions are good.
You can use the following order types: Limit, Market, Stop, Stop Limit, Market if Touched, Limit if Touched, Trail, Relative, Market on Close, Limit on Close, Market on Open, Limit on Open.
There are also order time limits you can use: Day, Good till Canceled, Outside Regular Trader Hours.
Alerts and notifications
You can set price alerts using the bell icon (🔔).
Desktop trading platform
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||• Not user-friendly|
|• Good customizability (for charts, workspace)||• Poor search function|
|• Good variety of order types|
Brokerpoint's desktop platform, Trader Workstation (TWS), is the same as Interactive Brokers's. It is so advanced that even a separate review would not be able to cover all of its features. Nevertheless, we'll try to provide you with a comprehensive summary of TWS.
The platform offers literally every feature you could desire. Whether you were dreaming of replicating your favorite ETF or trading with chatbots – on TWS, you can do both.
The desktop trading platform is available in multiple languages: English, German, French, Spanish, Italian, Russian, Simplified Chinese, Traditional Chinese and Japanese.
Look and feel
Trader Workstation is by far the most complex platform that we at BrokerChooser have ever reviewed. This platform is ideal for you if you consider yourself a professional user. If you are a beginner or someone who seeks long-term investments, though, you may have difficulty navigating all of TWS's features.
Accordingly, the Brokerpoint desktop trading platform is not so user-friendly, although it is customizable.
Login and security
It has the same security features as the web trading platform. You can turn on two-step authentication, which makes the platform safer to use.
Brokerpoint's search functions are quite poor. This is the weakest part of TWS platform. Search results are not structured, and it is quite difficult to filter out the product you are looking for.
Trading through TWS, Brokerpoint offers many different order types.
|Relative||Retail Price Improvement||Snap Market||Snap To Midpoint|
|Snap to Primary||Market-on-Close||Limit-on-Close||IBALGO|
(with Forex, or Pair Stock)
There are also order time limits you can use:
- Good 'til Canceled (GTC)
- Good-Til-Date (GTD)
- Market-on-open (MOO)
- Limit-on-open (LOO)
- Immediate-or-cancel (IOC)
- Fill-or-Kill (FOK)
- Day 'Til Canceled (DTC)
Alerts and notifications
Alerts and notifications can be set in the 'Configuration panel.' You can choose to receive email, text (SMS) or mobile pop-up notifications.
You can also set additional alerts, for example for price changes, daily profits or losses, executed trades, etc.
Portfolio and fee reports
Brokerpoint's portfolio and fee reports are really transparent, providing a clear overview of your performance, including your historical profit/loss balance and the fees you paid.
Markets and products
An extremely wide range of markets is accessible through Brokerpoint, and all product types except for crypto are available.
Brokerpoint has a great selection of products, with an exceptional range of ETFs and bonds. Brokerpoint also offers some more exotic assets, like warrants and structured products.
Brokerpoint provides access to roughly 150 exchanges worldwide, including through its alternative services such as Interactive Advisors. This is an asset management service that is a mix of robo-advisory and social trading.
Stocks and ETFs
Brokerpoint lets you access more stock markets than similar competitors. These include major markets such as the NASDAQ, the New York Stock Exchange (NYSE) and the London Stock Exchange (LSE), as well as minor ones such as the Warsaw Stock Exchange and Mexican markets. In addition to regular stocks, penny stocks are also available.
Besides stocks, you can also trade with more than 13,000 ETFs at Brokerpoint.
|Stock markets (#)||78||78||5|
Brokerpoint provides a vast selection of more than 100 currency pairs.
|Currency pairs (#)||105||105||-|
Through Brokerpoint, you have access to more than 250 fund providers, including big market names like BlackRock and Vanguard.
|Fund providers (#)||260||260||55|
Brokerpoint gives you access to numerous bonds. Out of all government and corporate bonds available at Brokerpoint, 1.4 million are so-called municipal bonds: these are fixed income investments issued by local US governments, cities, states or counties, but they are tradable only for US residents. The table below does not include municipal bonds in the overall number of bonds.
As with other product types, Brokerpoint offers an extremely wide range of options markets. You can access the biggest ones, like the Chicago Board Options Exchange (CBOE) or the CME Group, as well as smaller markets such as the Korea Stock Exchange (KSE) or the Mexican Derivatives Exchange (MEXDER).
|Options markets (#)||33||33||10|
At Brokerpoint there are 32 futures markets available offering access to an extensive selection of futures products. Similarly to options, you will find both major and minor markets.
|Futures markets (#)||32||32||11|
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Compared to most other brokers, Brokerpoint offers an average range of CFDs in terms of both product width and depth, covering only stock and stock index CFDs.
|Stock index CFDs (#)||13||13||-|
|Stock CFDs (#)||7,100||7,100||-|
|ETF CFDs (#)||-||-||-|
|Commodity CFDs (#)||-||-||-|
|Bond CFDs (#)||-||-||-|
|Futures CFDs (#)||-||-||-|
The quality of the research available at Brokerpoint is good and you can also choose from various third-party providers.
|• Good interactive chart||• Not user-friendly|
|• Trading ideas|
|• Data on asset fundamentals|
On the Brokerpoint platform, you can view recommendations provided by third parties. These research tools are mostly free, but some are available only for-pay.
Several prominent news sources, like Thomson Reuters, Morningstar and Dow Jones, are available for free.
In January 2020, Brokerpoint incorporated two new recommendation tools, called Validea and TheLeadingEDGE. These provide real-time analysis, in-depth reports and model portfolios for a monthly subscription. You can enable these features via your Client Portal: to do so, go to 'Menu/Settings/User Settings' and then 'Research Subscriptions'.
Brokerpoint provides trading ideas. The trading signals contain possible entry and exit points, which you can combine with your own risk and money management strategy.
Brokerpoint provides a broad selection of fundamental data on all of its platforms. These include income statements for the past six years, a dividend calendar and peer group companies, among others.
The charting features are almost endless at Brokerpoint. There are 120 technical indicators available; however, similar to the trading platforms, the charting tool is not very user-friendly.
Other special technical tools include:
- Stock/ETF benchmarker: helps you to compare your stock or portfolio to a selected benchmark
- Mutual fund and ETF replicator
- Volatility lab
- Option probability lab: a group of option analysis functions
- VaR, Sharpe: portfolio performance analyzers
At Brokerpoint, you can access:
- Daily summaries
- Multiple economic calendars
Brokerpoint has its own news domain called 'Traders' Insight'. It also channels integrated third-party news and recommendations to the desktop platform.
Upon entering the platform, you can read daily summaries of the markets through 'Daily Lineup'. This feature keeps you informed about the latest news and analyst recommendations. There is also an earnings calendar and an economic event calendar, which are helpful shortcuts to start off your day.
Brokerpoint's customer service needs improvement. There is no live chat and they do not give useful answers on the phone. Furthermore, we did not receive answers to our emails.
|• Phone support||• No live chat|
|• Slow support|
|• Irrelevant answers|
You can contact Brokerpoint via:
Brokerpoint's customer service picks up the phone within a few minutes, and they even call you back if they didn’t answer on the first attempt. However, we didn’t get relevant answers to our questions. In addition, their email support seems non-existent, as we sent several emails (both in English and German) with basic questions and nobody answered for weeks.
There is no live chat at Brokerpoint, and we also missed the 24/7 availability of its customer service.
At Brokerpoint there are no proper learning tools, and the site has outdated information about their availability. Because of that, the broker is not a good option for beginners.
|None||• No demo account|
|• No trading platform tutorial videos|
|• No educational videos|
Brokerpoint does not provide any tools for learning. Theoretically, you can open a demo account on its site, but after registering we got a message saying it's no longer available.
Brokerpoint is regulated by the top-tier BaFin and as an introducing broker of IB, clients are also covered by top-tier regulators. However, the firm is not publicly listed, meaning less transparency.
|• Majority of clients belong to a top-tier financial authority||• Does not hold a banking license|
|• High level of investor protection||• Not listed on stock exchange|
|• Negative balance protection||• Financial information is not publicly available|
Is Brokerpoint regulated?
Yes, Brokerpoint is regulated by the German Financial Supervisory Authority (BaFin).
It also serves as an introducing broker to Interactive Brokers (IB). This means that your cash and assets are held with IB.
Brokerpoint is based in Germany and was founded in 2017.
Is Brokerpoint safe?
To be certain if a brokerage is safe, we highly advise that you check two facts:
- how you are protected if something goes wrong
- what the background of the broker is
How you are protected
The regulation of Brokerpoint isn't fully transparent from the available information. What is certain is that the German entity is Kaiser Global Invest GmbH, which is covered by BaFin's investor protection.
All further details are unclear. However, due to its connection to IB and your assets being held with IB, it is likely that the offered investor protection is similar to IB's. The table below incorporates information based on the protection offered at CapTrader, a similar German introducing broker to IB.
|Country of clients||Protection amount||Regulator||Legal entity|
|EEA||€20,000||Federal Financial Supervisory Authority (BaFin)||Kaiser Global Invest GmbH|
|Non-EEA||£85,000 or $500,000 ($250,000 cash limit)*||Financial Conduct Authority (FCA)||Kaiser Global Invest GmbH|
* If you are from the UK, the regulator and the protection amount also depends on what you are trading:
- If you trade forex, CFDs, non-US stock index options or futures, you are protected by the FCA, up to £85,000.
- If you trade stocks, bonds, funds or US stock index options, you are covered by the US investor protection scheme, i.e. $500,000 with a cash limit of $250,000.
Brokerpoint provides negative balance protection. If the balance on your account goes into negative, you will be protected.
Brokerpoint was established in 2017. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.
The company is not listed on a stock exchange and does not release regular financial statements, meaning its operations are less transparent.
Brokerpoint is a global stockbroker for investors and traders, and an introducing broker to Interactive Brokers. As its trading platform is quite complex, we recommend this broker mainly for advanced traders.
On the plus side, Brokerpoint has low trading and non-trading fees, and offers a wide range of markets and products. The account opening process is fully digital and requires no minimum deposit.
There are some drawbacks, though. Brokerpoint charges high fund, futures and CFD trading fees. Moreover, the broker does not provide proper educational tools and its trading platforms are complicated.
If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Brokerpoint could be a great fit for you.