Internaxx Review

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  • Easy to use, minimalistic platform
  • Basic products can be easily accessed on a competitive price (e.g. free fund buy/sell)
  • Good stock analysis tools
  • Only stock analysis available (no macro, currency or commodity research)
  • More sophisticated products only available through a separate platform
  • Customer service is client oriented but has problems with answering content questions

Recommended if you want stocks and funds on a beautiful, minimalistic platform.

Former TD Direct Investing, Internaxx is a Luxembourg-based brokerage company with a banking license. The company specialized in serving expats.

As a plus, Internaxx offers an easy to use, nice looking trading platform, suitable for anyone interested in stocks and funds. Detailed company analysis reports are delivered by Morningstar, a research firm. Leading international funds can be bought and sold for free.

Unfortunately, only stock analysis are available and no macro, currency or commodity research are accessible. More sophisticated products are only accessible if registered to Internaxx’s derivative account (a Saxo solution). Internaxx’s customer service is client oriented, but has some difficulties with answering content questions. We also received a feedback from one of our customers, that for bigger investment amounts (>EUR 100.000) the anti-money laundering process is everything but customer friendly.

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Pros
  • Straightforward English account opening process
  • No minimum balance needed (also none, for the Saxo account)
Cons
  • No digital identification, you need to post notarized copies of ID and permanent address
  • Funding only through IBAN wire transfer
  • No demo account
  • Occasional telephone conversations (identification, security, etc.)
Pros
  • Great customer experience, easy to use, simple platform
  • Nice visualization of account balance and portfolio
  • Secure login identification (random characters of the password needed)
Cons
  • Handles only stocks and funds, separate account/platform needed for derivatives
  • Limited trading options (e.g. no sophisticated stop loss orders)
  • Cannot be personalized
Pros
  • English, German and French available
  • Call center speaks in kind, polite manner
Cons
  • Call center had once problems with answering content questions in one of our tests
  • Luxemburg is the closest Internaxx office to visit in person
  • Slow phone pickup
Pros
  • Transparent, easy to understand pricing model, competitive for medium or larger accounts
  • Zero trading costs for investment funds (if invested for longer than 30 days)
  • Flat free pricing model for stocks (for below 250k EUR trades)
  • 0 monthly account fee
  • Outgoing transfers are free (for under 50k EUR)
Cons
  • Stock trading fees can be high if trade volume is low (because of flat fee)
  • Inactivity fee (for less than 12 trades per 3 months, a quarterly inactivity fee of €25-€45 is charged)
Good to know
  • Internaxx is a company registered in Luxembourg, therefore the tax policies of the European Union are applicable
  • Taxes levied on transactions are charged directly and added to the commission
Pros
  • Detailed company analysis reports are delivered by Morningstar, a research firm, for free
  • User friendly, easy to use research page
  • Neat fund, ETF and stock selector
Cons
  • Research and analyst materials are only on stocks (no macro, commodity, FX or credit reports)
  • Weekly reports are giving a good detailed overview on market movements, but trade ideas are technical focused
  • At first it is not fully clear, how much you can customize email alerts
  • Major stock markets (USA, Germany, UK)
  • Hong Kong stocks
  • Funds
  • ETF

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