feed linkedin-square facebook-square twitter-square

LYNX fees explained

Mar 2019
Compare to best alternative broker

Overview of LYNX fees and charges

LYNX logo

When it comes to brokerage fees LYNX shows a mixed picture: some fees are high but some are low. First you need to figure out your approach or you should use our questionnaire to be able to tell whether LYNX fees are an advantage for you. Continue reading about LYNX fees and charges to see if this is the right brokerage for you or a similar broker like DEGIRO or Saxo Bank is better for you.

Here's a high level overview of LYNX's fees

LYNX Fees snapshot
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. Minimum $5; maximum 1% of the transaction
EURUSD fee Low €4 per lot
US tech fund fee - Not available
Inactivity fee High It is called platform fee and it is €5 per month.

LYNX fees
LYNX fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely due to the fact that 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 5000 clients.

This is not to say however that they don't have any fees at all. They make money by charging you at various events for various rates. Usually you need to keep an eye on these 3 types of fees:

  • Trading fees - these are brokerage fees that you pay when you actually do a trade, i.e. buying an Apple stock or an ETF. What you pay is either a commission, a spread or financing rate. Some brokers apply all of these.
    • A commission is either based on the traded volume or it is fixed.
    • A spread is the difference between the buy price and the sell price
    • Financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
  • Non-trading fees. These occur related to some operations you make in your account, i.e. depositing money to your account, withdrawing money from it or not trading for an extended amount of time.

We compare LYNX fees with its closest competitors, DEGIRO and Saxo Bank.

LYNX fees
LYNX trading fees

LYNX's trading fees are low which makes it suitable for you even if you trade often (i.e. multiple times a week).

Let's break down the trading fees into the different asset classes available at LYNX.

Trading fees

LYNX's trading fees are average.

Stock fees and ETF fees

LYNX has low stock trading fees.

Stock fees of a $2,000 trade
LYNX DEGIRO Saxo Bank
USA $5.0 $0.6 $9.9
UK $13.1 $2.4 $7.2
Germany $6.8 $5.7 $11.4

Forex fees

LYNX's forex fees are low.

Forex fees of a $20,000 30:1 position open, 1-week-hold, and close
LYNX DEGIRO Saxo Bank
EURUSD benchmark fee $16.0 - $58.4
EURGBP benchmark fee $17.0 - $27.2

Fund fees

LYNX fund fees are low.

A $2,000 fund buy fees
LYNX DEGIRO Saxo Bank
USA tech fund buy - $10.6 -
Europe stock fund buy $6.8 $10.6 -

Bond fees

LYNX has low bond fees.

Bond fees of a $10,000 trade
LYNX DEGIRO Saxo Bank
USA $10.0 - $91.2
Europe $16.0 $11.5 $91.2

Options fees

LYNX's options fees are high.

Stock index options fees of 10 contracts
LYNX DEGIRO Saxo Bank
USA $24.0 $6.5 $60.0
UK $50.8 - $72.5
Germany $20.0 $10.3 $68.4

Futures fees

LYNX's futures fees are average.

Stock index futures fee of 10 contracts
LYNX DEGIRO Saxo Bank
USA $35.0 $6.5 $60.0
UK $29.0 $30.2 $72.5
Germany $28.5 $10.3 $68.4

CFD fees

LYNX has low CFD trading fees.

CFD fees, commission of a $2,000 trade
LYNX DEGIRO Saxo Bank
USA $5.0 $0.7 $10.0
UK $7.3 $5.7 $11.6
Germany $6.8 $5.7 $11.4

Crypto fees

Financing rates

LYNX financing rates are average.

If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.

LYNX yearly financing rates
LYNX DEGIRO Saxo Bank
Apple financing rate 7.1% 4.3% 7.1%
Vodafone financing rate 5.3% 2.5% 5.3%
EURUSD financing rate 3.8% - 15.5%
EURGBP financing rate 3.8% - 6.7%

LYNX fees
LYNX non-trading fees

When it comes to looking at all the non-trading fees LYNX is an expensive broker. This means that they tend to charge you a lot for non-trading related activities on your trading account, like withdrawal fee.

Non-trading fees include various brokerage fees and charges at LYNX that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.

A high level overview of how LYNX stacks up in non-trading fees
LYNX DEGIRO Saxo Bank
Withdrawal fee $0 $0 $0
Deposit fee 0 0 0
Inactivity fee Yes No Yes
Account fee No No No

LYNX fees
LYNX deposit fee

Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and LYNX is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods LYNX offers.

LYNX deposit methods
LYNX DEGIRO Saxo Bank
Bank transfer Yes Yes Yes
Credit/Debit card No No Yes
Electronic wallets No Yes No
Deposit fee 0 0 0

LYNX fees
LYNX withdrawal fee

Unlike the majority of the online brokers we have reviewed LYNX does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.

LYNX withdrawal fees and options compared
LYNX DEGIRO Saxo Bank
Bank transfer Yes Yes Yes
Credit/Debit card No No Yes
Electronic wallets No Yes No
Withdrawal fee $0 $0 $0

LYNX fees
LYNX inactivity fee

LYNX does apply an inactivity fee and it is It is called platform fee and it is €5 per month.. This means that you need to be strategic about your trading activity to avoid getting charged after a longer time of no trade. The fact that LYNX charges an inactivity fee makes it less ideal for you if you are a buy and hold investor.

LYNX has high inactivity fee.

LYNX DEGIRO Saxo Bank
Inactivity fee Yes No Yes
Inactivity fee It is called platform fee and it is €5 per month. No inactivity fee $25 per quarter if you don't trade in the previous quarter

Read more about LYNX inactivity fee on their own site.

AUTHOR

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
Follow Brokerchooser on Twitter

Share

Comments