Internaxx Review 2018

3.9
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Former TD Direct Investing, Internaxx is a Luxembourg-based brokerage company. It has a banking license but is not listed on any stock exchanges. It's regulated by CFFS, the Luxembourgish regulator. The company specialized in serving expatriates and international investors.

As a plus

Internaxx offers an easy to use, nice looking trading platform, suitable for anyone interested in stocks and funds. Research is delivered by Morningstar, a professional research firm. Furthermore, you can trade with almost all asset classes.

On the flip side

Internaxx charges high trading fees. It has a mobile app, but it doesn’t work at all. The only way to transfer money is bank transfer.

Recommended for beginners and buy and hold investors.

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Internaxx review
Investor protection and regulation

Internaxx is regulated by the CSSF, Luxembourgish financial regulator. It has a banking license and provides a €100,000 account protection. On the flip side, it's not listed on any stock exchange and doesn't provide negative balance protection.

Internaxx-Review-Investor-Protection

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Internaxx review
Account opening

You can open an account without a required minimum amount. However, you need to post the documents to Interaxx for completing the application.

You can choose from the following 9 account base currencies: EUR, USD, CAD, GBP, SEK, CHF, AUD, HKD, SGD.

There are two types of account:

  • multi-currency account
  • derivatives account

At multi-currency account, you can trade with stocks, ETFs and investment funds. Derivatives accounts give you access to forex, CFD, future, and options products. Note that derivatives accounts are available through Saxo Bank's platform. If you want to trade with Forex, you will direct to Saxo's platform.

First, you give all important personal information, you will fill a form about your investment experience and trading preferences. At the end of the process, you will post notarized copies of ID documents to Internaxx. It makes the account opening process much slower and complicated.

Internaxx-Review-Account-Opening

 

Internaxx review
Funding and withdrawal

You can only transfer money through bank transfer. Its time is 10-15 days. Funding and withdrawal process is user-friendly.

Internaxx-Review-Funding-Withdrawal

Withdrawal under €50,000 is free of charge if it's in the EU, Iceland, Monaco, Norway, or Switzerland. All other transaction charges a €10 cost.

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Product portfolio

At Internaxx you can trade with almost all asset classes.

Available asset classes at Internaxx:

  • Equities
  • ETFs
  • Funds

Internaxx-Review-Product-Portfolio

For forex, option, future and CFD trading you need to open a second, derivatives account. For this account, you need to use Saxo Bank's trading platform. You can read about Saxo Bank's platform in our Saxo Bank review.

Internaxx review
Fee structure

Intrnaxx's trading fees are high if you trade at low volume. However, the fee structure is transparent.

Internaxx-Review-Fee-Structure

Internaxx fees have another weak point, which is the inactivity fee. If you don't trade for 3 months at all, you will be charged by a quarterly €45. For less than 12 trades per 3 months, a quarterly inactivity fee of €25 is charged. 

Internaxx review
Web trading platform

You will easily navigate yourself through Internaxx's well-designed platform. However, the platform lacks many technical tools, so it won't be suitable for traders.

You can use two trading platforms through Internaxx. If you open a multi-currency account, you will use the company's own platform. With derivatives account you will trade at Saxo Bank's trading platform. In our Internaxx review, we tested its own trading platform. If you want to check Saxo Bank's trading platform, visit our Saxo Bank review.

Testing Internaxx's platform was a great experience. It has a well-designed and easily manageable trading platform. You can't customize the platform, but the default workplace is very understandable and logical. You can search for stocks, ETFs, and funds separately.

 Internaxx-Review-Trading-Platform

The biggest disadvantage of the trading platform is the limited number of order types. 

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Internaxx review
Mobile trading platform

We couldn't test this platform as every time we tried to log in, an error occurred.

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Internaxx review
Desktop trading platform

Internaxx does not provide a desktop platform.

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Internaxx review
Research

Internaxx provides Morningstar's research that is well-detailed and has a good-quality. You will easily navigate yourself through the research page. On the flip side, research materials are available only for stocks.

Third-party research providers usually charge a fee for their services, but at Internaxx Morningstar's research is free of charge. 

Internaxx-Review-Research

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Internaxx review
Education

Education is not provided.

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Internaxx review
Customer service

You can contact Intrenaxx through telephone or e-mail. Live chat is not available. The support team is very kind, but sometimes gives irrelevant or incorrect answers. The speed is a weak point as well.

Internaxx-Review-Customer-Service

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Internaxx logo

Former TD Direct Investing, Internaxx is a Luxembourg-based brokerage company. It has a banking license but is not listed on any stock exchanges. It's regulated by CFFS, the Luxembourgish regulator. The company specialized in serving expatriates and international investors.

As a plus

Internaxx offers an easy to use, nice looking trading platform, suitable for anyone interested in stocks and funds. Research is delivered by Morningstar, a professional research firm. Furthermore, you can trade with almost all asset classes.

On the flip side

Internaxx charges high trading fees. It has a mobile app, but it doesn’t work at all. The only way to transfer money is bank transfer.

Recommended for beginners and buy and hold investors.

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Overall

Pros
  • Easy to use, minimalistic platform
  • Detailed stock analysis tools
Cons
  • High trading fees
  • Not working mobile app
  • Only bank transfer is available

Investor protection and regulation

Pros
  • €100,000 amount of account protection
Cons
  • Not listed on stock exchange
  • Doesn't provide negative balance protection

Account opening

Pros
  • No minimum account balance
  • More base currency available
Cons
  • Not fully digital opening process
  • No demo account

Funding and withdrawal

Pros
  • User-friendly transfer process
Cons
  • Only bank transfer available
  • 10-15 days transfer time

Product portfolio

  • Forex
  • Funds
  • Options
  • Futures

Fee structure

Pros
  • Transparent fees
Cons
  • High fees for low volume stock trading
  • Inactivity fee

Web trading platform

Pros
  • Easy to use, simple platform
  • Nice visualization of account balance and portfolio
Cons
  • Limited number of order types
  • Limited number of technical tools
  • Lack of customizability

Research

Pros
  • Detailed company analysis reports for free
  • User-friendly research page
Cons
  • Research and analyst materials are only available stocks

Customer service

Pros
  • Customer service in English, German and French
  • Call center speaks in kind, polite manner
Cons
  • Slow phone pickup
  • Sometimes irrelevant or incorrect answers

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
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