Is LYNX free?
LYNX does charge a commission for real stock trading on US markets, so in this sense it is not a free-to-trade broker. However, it might still be a reasonable choice for some of you, as there are many other aspects other than commissions that are important when you choose a broker. If you wish to stick with LYNX though, then you will find the fees they charge below. Alternatively, you could check our article detailing the best zero commission brokers and how their apps scored in our test.
We should note that the payment-for-order-flow model, which is used by some zero-commission brokers to generate income (rather than relying on commissions), could potentially create a conflict of interest between you and your broker. This could result in trade execution (like routing your orders to specific market makers) that might be unfavorable for you under certain market conditions, especially when using market orders (as opposed to limit orders, which seem to be less affected).
Overview of LYNX fees and charges
When it comes to brokerage fees, LYNX is a mixed bag. To see how they may affect you, first you need to figure out your approach to trading - i.e. whether you are more of a buy-and-hold investor or if you want to trade frequently; or what type of assets and in what volumes you'll want to trade. Alternatively, use our questionnaire to help you tell whether LYNX fees are beneficial for you. Continue reading about LYNX fees and charges to see if this is the right broker for you, or if a similar broker like Comdirect or DEGIRO might suit you better.
Here's a high-level overview of LYNX's fees
|Assets||Fee level||Fee terms|
|US stock fee||Low||Up to 2,000 shares: $0.01 per share; from 2,000 shares: $0.005 per share. Min $5, max 2% of the transaction|
|EURUSD fee||High||0.4 bps of trade value; min $4|
|US mutual fund fees||Low||0.1% of trade value; min €6, max €45|
|Inactivity fee||Low||Called 'platform fee'; €5 per month.|
LYNX fees explained
Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely because online brokerages' businesses can be much better scaled: from a purely technical standpoint, it doesn't make that much of a difference for them if they have 100 or 5,000 clients.
This is not to say, however, that they don't charge any fees at all. They make money by charging you various rates for various actions or events. Usually you need to keep an eye on the following three types of fees:
- Trading fees - these are brokerage fees that you pay when you actually carry out a trade, like buying an Apple share or an ETF. What you pay is either a commission, a spread or a financing rate. Some brokers apply all of these.
- A commission is either fixed or based on the traded volume.
- A spread is the difference between the buy price and the sell price.
- A financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
- Non-trading fees. These are usually related to some operations you carry out in your account, such as depositing money, withdrawing money, or not trading for an extended period.
We compare LYNX fees with its closest competitors, Comdirect and DEGIRO.
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LYNX trading fees
LYNX's trading fees are mixed, which means that some asset classes come with high trading fees - be sure to check these carefully.
Let's break down trading fees according to the different asset classes available at LYNX.
LYNX's trading fees are average.
Stock fees and ETF fees
LYNX has low stock trading fees.
LYNX's forex fees are high.
|EURUSD benchmark fee||$14.7||$18.9||-|
|EURGBP benchmark fee||$14.7||$22.1||-|
LYNX fund fees are low.
|EU mutual fund||$6.6||$20.0||$10.3|
LYNX has low bond fees.
|US Treasury bond||$10.0||$34.5||-|
|EU government bond||$16.8||$30.9||$11.0|
LYNX's options fees are high.
|US stock options||$24.0||-||-|
|US stock index options||$24.0||-||$5.0|
|UK stock index options||$49.0||-||-|
|German stock index options||$21.0||$54.0||$10.8|
LYNX's futures fees are low.
|US micro e-mini stock index futures||$12.5||-||$5.0|
|UK stock index futures||$28.0||-||-|
|German e-mini stock index futures||$12.0||$54.0||$9.0|
LYNX has high CFD trading fees.
LYNX margin rates are average.
|USD margin rate||3.6%||-||1.3%|
|EUR margin rate||3.5%||4.0%||0.8%|
LYNX non-trading fees
Some of LYNX's non-trading fees are average.
Non-trading fees include various brokerage fees and charges at LYNX that are not related to buying or selling assets. This can be a withdrawal fee, deposit fee, inactivity fee or account fee.
LYNX deposit fee
Usually, brokers don't charge anything for deposits, but LYNX is different: a fee will be charged when you transfer your money from your bank account to your brokerage account.
LYNX withdrawal fee
Unfortunately, LYNX does charge a withdrawal fee of $0.0 for bank transfers. This means that you need to pay this amount when you transfer money from your brokerage account back to your bank account. Sometimes this is a flat fee, but a percentage charge may be applied in some cases. It's up to you to decide whether you can tolerate this, keeping in mind that flat fees can hurt more if you withdraw small amounts only.
|Withdrawal fee for bank transfer||$0.0||$0.0||$0.0|
LYNX inactivity fee
LYNX does apply an inactivity fee and it is Called 'platform fee'; €5 per month.. Keep this in mind to avoid getting charged after a longer idle period. The fact that LYNX charges an inactivity fee makes it less ideal for you if you are a buy-and-hold investor.
The inactivity fee charged by LYNX is low.
|Inactivity fee||Called 'platform fee'; €5 per month.||No inactivity fee in the first 3 years after account opening, then €1.95 per month if you don't meet certain criteria||No inactivity fee|