LYNX Review 2024

Is LYNX regulated?

Yes, it is regulated by the Netherlands Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB).
LYNX is based in The Netherlands and was founded in 2006.

Is LYNX safe?

To be certain that a brokerage is safe, we highly advise that you check two facts:

• how you are protected if something goes wrong
• the background of the broker.

How you are protected

LYNX is an introducing brokerof the Irish entity of Interactive Brokers. This means that Interactive Brokers will hold your assets (both cash and securities). In the unlikely case that LYNX defaults, your assets would still be with Interactive Brokers.
Interactive Brokers's Irish entity is regulated by the Central Bank of Ireland (CBI).
You will get the same investor protectionas the regular clients of Interactive Brokers Ireland (IBE), i.e. compensation for 90% of the amount you have lost, up to a maximum of €20,000 in the very unlikely event both IBIE and Lynx go bust.
LYNX also provides negative balance protection for forex spot and CFD trading, but only for retail clients from the European Union. Professional clients are not covered by any negative balance protection.

Our brokerage experts put together a comprehensive guide on the safety profile of LYNX.

Background

Interactive Brokers will be holding your funds, so let's check its background.
IB dates back to 1978; this shows that it has survived multiple economic crises. IB is listed on the NASDAQ, which increases transparency as it has to publish financial statements regularly.
Nonetheless, there is only a limited amount of financial and management information available on LYNX itself, which is not ideal for transparency.
Still, being regulated by top-tier financial authorities, and being an introducing broker of a strong and reputable company are all great signs for LYNX's safety.

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Account base currencies

At LYNX, you can choose from the following 9 base currencies:

This selection is average compared to competing brokers.

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 won'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

LYNX charges no deposit fees.

However, deposit options are limited, as you can only use bank transfers.

Here's all you need to know about depositing money at LYNX and key info on minimum deposit requirements.

A bank transfer can take several business days. You can only deposit money from accounts that are in your name.

LYNX withdrawal fees and options

LYNX charges no withdrawal fees for the first transfer of every calendar month. Subsequent withdrawals incur a fee; for example, a SEPA transfer costs €1.

Read this guide with all key info on available withdrawal methods and related fees.

You can only withdraw money to accounts in your name.

How long does it take to withdraw money from LYNX? We tested the bank transfer withdrawal and it took 2 business days. However, according to the LYNX website, it can take up to 4 days.

How do you withdraw money from LYNX?

• Enter the Client Portal, then click 'Transfer & Pay' and 'Transfer funds'
• Select the account you want to use for the transaction
• At the top of the page, click the 'Withdraw Funds' tab
• Select the currency of your withdrawal, then the withdrawal method
• Fill in the required information (this is different for each withdrawal method)
• Submit your withdrawal request
• In 'View Transaction History', you can see the status of your request

Can you open an account?

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It is not immediately evident from which countries you can open a LYNX account. LYNX's webpage has localized versions for the Netherlands, Belgium, France, Germany, Czechia, Poland, Slovakia and Finland.
Customer support told us that you can open an account from most European countries. International clients will be onboarded via the Dutch entity of LYNX. For customers outside Europe, LYNX will review applications on a case-by-case basis, but if you have any ties to the Netherlands, you will be most likely accepted.

Read this article on how to get your account started with LYNX.

What is the minimum deposit at LYNX?

The required LYNX minimum deposit is $3,240.

You can also open an account by transferring your portfolio from another broker, provided that it has an aggregate value of at least €3,000.

Account types

You can choose from three account types, based on ownership:

• Individual - you are the only account owner
• Joint - there are multiple account owners
• Corporate - a legal entity is the account owner; here, a minimum deposit (or portfolio transfer) of €20,000 applies

Youl also need to select whether you wish to have a cash or a margin account. To be able to short stocks or options, or to buy on margin, you'll need a margin account. However, margin accounts are only available if you're older than 21.
Normal (cash) accounts can be opened if you're older than 18. With a cash account, it takes three days after selling a stock to gain access to the sum credited. That's because according to industry standards, most securities have a settlement date that occurs on the trade date plus 2 business days (T+2). That means if you sell a stock on a Monday, the settlement date would be Wednesday. This doesn't really make a difference for investors, but for traders, a margin account usually works out better.

How to open your account

The account opening process is fully digital and easy to launch. On the negative side, the overall process is slow; approval took us more than three days.
The three steps of LYNX account opening:

1. Enter your personal and financial information.
2. Add info about your trading experience and fill out a questionnaire on your financial knowledge.
3. Verify your identity and residency. Upload a national ID or passport to verify your identity; bank statements are accepted as proof of residency.

The LYNX mobile trading platform is available for both iOS and Android.In this review, we tested it on Android.

The mobile trading platform is available in several languages.

Look and feel

The mobile trading app is handier compared with the web platform. Still, its overall look and user-friendliness lags behind the mobile platforms of many other brokers

Login and security

LYNX provides a safer, two-step login for its mobile platform.

You can log in using biometric authentication, which is a convenient feature.

Search functions

The search functions are OK.

You can access the search button easily from any menu. When you type in the asset you are looking for, the app lists all asset types. For example, if you search for Apple, you can choose among Apple stock, futures, options, warrants or CFDs.
After you have selected the product are you interested in, you will be greeted by an information and trading window that shows:

• Asset market information
• An interactive chart with technical indicators
• Related news
• Some fundamental data
• Summary of the latest analyst report
• The buy and sell buttons that take you to the order panel

Placing orders

LYNX provides many order types on the mobile trading platform.

There are also order time limits you can use:

• Day
• Good till Canceled
• Outside Regular Trader Hours

Alerts and notifications

You can set alerts and notifications on the LYNX mobile platform.

However, this is only available via the chatbot, which is not the most intuitive method.

Special feature - Chatbot

However, on its own, the most innovative and exciting function within the app is the chatbot, called IBot. You can use the chatbot to execute or close an order, or to get basic info quickly.

The chatbot understands basic commands, such as “apple price” or “buy 1 apple share.” On top of this, you can also search for company fundamentals, like dividend yields or PE ratios. Some other functions, like displaying a chart, are also available via the chatbot.

Our analysts personally tested LYNX's mobile app, check out their verdict.

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The LYNX desktop platform is powered by Interactive Brokers. Trader Workstation (TWS) is so advanced and has so many functions that even a separate review would not be able to do it justice.
The system offers literally every feature you can think of, from attaching a delta hedge order to an options order to creating charts for synthetic securities. Also, there are many trading algos to choose from.

The desktop trading platform is available in many languages.

Look and feel

The LYNX desktop trading platform is not very user-friendly and is very complicated. If you are an advanced trader, the platform is ideal. However, if you're just starting out or if you prefer long-term investments, you won't be able to take advantage of most features.
As a plus, the platform is highly customizable. You can set up your own templates.

Login and security

LYNX provides a two-step login.

This makes the platform unquestionably safer to use.

Search functions

The search functions are good.

You can search based on a ticker or the name of the company you are looking for, and results will appear in alphabetical order.

Placing orders

LYNX provides a wide range of order types on the desktop trading platform.

Also, LYNX provides a lot of order time limits.

Alerts and notifications

You can set alerts and notifications on the desktop trading platform.

Price alerts and order notifications can be set up on the configuration panel. You can select email, SMS or push notifications. Furthermore, you can set alerts for your daily profit or loss, trade executions, etc.

Portfolio and fee reports

LYNX has clear fee reports.

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LYNX's product selection is great compared to its closest competitors. Both Comdirect and DEGIRO offer fewer stock markets to trade on.

Stocks and ETFs

LYNX's stock and ETF selection are great. It is bigger than either DEGIRO's or Comderict's offerings.

Forex

LYNX offers a wide range of currency pairs for trading. Its selection tops that of most rival brokers.

This selection is great compared to competing brokers. Both Comdirect and DEGIRO offer fewer currency pairs to trade.

Funds

LYNX lists a higher number of funds than its competitors. However, it appears you can only invest in European investment funds.

This selection is great compared to competing brokers. Both Comdirect and DEGIRO offer fewer fund providers to choose from.

Bonds

LYNX offers an outstanding number of bonds, well above DEGIRO's bond selection.

This selection is average compared to competing brokers.

Options

LYNX has great options coverage. You can access exchanges all over the world.

This selection is great compared to competing brokers. Both Comdirect and DEGIRO offer fewer option markets to trade on.

Futures

LYNX's futures offer is also ahead of its competitors.

This selection is great compared to competing brokers. Both Comdirect and DEGIRO offer fewer futures markets to trade on.

CFDs

At LYNX you can trade only stock and stock index CFDs, while Comdirect has commodity CFDs.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60.0% 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.

Cryptos

At Lynx, you can trade cryptos the following ways:

• Bitcoin and Ethereum ETNs are traded on the Stockholm Stock Exchange and the US OTC (Pink) markets
• Bitcoin Index is available on the New York Stock Exchange (NYSE), on the CME Group and the Chicago Board Options Exchange (CBOE)
• Bitcoin futures are available on the CME Group

If you want to know more about crypto investing, we recommend our crypto blogpost.

Interest earned on cash

As a LYNX client, you will receive interest on your positively settled cash balances from Interactive Brokers (IBKR). Accounts with a Net Asset Value (NAV) of USD 100,000 (or equivalent) or more will earn interest at the full rate for which they are eligible with IBKR. Accounts with a NAV of less than USD 100,000 (or equivalent) will earn interest at rates commensurate with the size of the account.

LYNX will deduct 2% from the interest paid by IBKR. If the credit markdown charged by LYNX is greater than the credit interest paid by IBKR, you will not receive any interest.

At the time of our review, LYNX provided the following interest rates on uninvested cash:

• up to 2.8% for USD
• up to 2.7% for GBP
• up to 1.2% for EUR

Below you can find links to all aspects of LYNX in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our LYNX fees article.

What about the minimum deposit?

Our ultimate guide to the LYNX minimum deposit is updated regularly.

How to start your LYNX account?

Look no further than our evaluation of the LYNX account opening.

How's their trading app?

Here's our expert view after checking the LYNX trading app.

Is the quality of customer service satisfactory?

All you need to know about the LYNX customer service.

Legit or scam?

Is LYNX legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether LYNX is really free.

Is this broker good for beginners?

We checked it in Is LYNX good for beginners.

Should you buy your silver bullets on LYNX?

Research for silver bugs in the Silver buy on LYNX guide

I want to trade options, are they available at LYNX?

We explored the topic in Can you trade options on LYNX?

What is the minimum account balance at LYNX?

Check out the current account balance requirements at LYNX in our What is the minimum account balance at LYNX article.

Looking for commission and fees data for LYNX?

We collected them in LYNX commission and fees.

How do you withdraw money from LYNX?

We tested it and collected the options and costs in How to withdraw money on LYNX.