Ninety Nine Review 2023

How we ranked fees

We ranked Ninety Nine's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

• Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
• Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Ninety Nine. In the case of stock investing the most important fees are commissions.

We also compared Ninety Nine's fees with those of two similar brokers we selected, DEGIRO and eToro. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Ninety Nine alternatives.

To have a clear overview of Ninety Nine, let's start with the trading fees.

Ninety Nine trading fees

Ninety Nine trading fees are low but currency conversion fees can be quite high.

Stock fees

Ninety Nine charges no stock commission in most cases. Stock trading is free of all traditional commissions, including execution, custody or corporate actions fees.

However, Ninety Nine does charge a currency exchange commission of 0.5% for each transaction, as the broker offers only EUR as a base currency but you can trade only US stocks, which must be paid in USD. 

In addition, there is a settlement cost of €5 per transaction on certain stocks, an item that Ninety Nine says is passed on by its custodian bank. Ninety Nine says that such charges may be lowered or even fall to zero if trading volume carried out by Ninety Nine clients in that particular stock increases.

Non-trading fees

Ninety Nine has generally low non-trading fees that are similar to those of its closest competitors.

Deposits and withdrawals are free, although the broker charges €5 on instant deposits. There are also no inactivity or account maintenance fees, as Ninety Nine scrapped a previous flat monthly fee when introducing a new fee structure at the start of 2021.

Can you open an account?

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Ninety Nine only accepts Spanish residents.

What is the minimum deposit at Ninety Nine?

At Ninety Nine, there is no minimum deposit. This is great for those looking to invest small amounts only.

Account types

Ninety Nine offers only one account type for individual investors. Corporate or joint accounts are not available.

How to open your account

The account opening process is fully online and straightforward.

If you want to open an account at Ninety Nine, you have to be

• a Spanish tax resident with a Spanish identity card, the so-called DNI (Documento nacional de identidad)
• or a foreigner from an EU country legally resident in Spain with a Foreign Identification Number called NIE (Numero de identificacion de extranjero).

You also need a Spanish phone number starting with the country code +34. So if you have a DNI or NIE and a Spanish phone, you can download the Ninety Nine App on your mobile phone. If you enter your phone number on the website, you will get a link to the app in an SMS. The app is available in both Apple Store and Google Play.

The steps to open your Ninety Nine account:

• Enter your NIE number
• Indicate your nationality
• Upload a copy of your passport or an equivalent identity document of your country
• Verify your identity by video (using face recognition)
• Fill in your personal data such as your address or employment status

Clients from the following countries who have an NIE number are now accepted to invest at Ninety Nine:

• Germany
• Austria
• Belgium
• Bulgaria
• Cyprus
• Croatia
• Denmark
• Slovakia
• Slovenia
• Estonia
• Finland
• France
• Greece
• Hungary
• Ireland
• Italy
• Latvia
• Lithuania
• Luxembourg
• Malta
• Netherlands
• Poland
• Portugal
• Czech Republic
• Romania
• Sweden

Account base currencies

At Ninety Nine, the only available base currency is EUR.

If you have a personal bank account in a currency other than EUR, then you will face 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.

Compare digital banks

Deposit fees and options

Ninety Nine charges no deposit fees for regular deposits. If you want to use instant deposit, though, it will come with a €5 fee.

You can use only bank transfer for your transactions. Credit/Debit cards, transfers from Revolut/Wise or electronic wallets are not accepted.

A bank transfer can take several business days, while payment with a credit/debit card would be instant.

You can only deposit money from accounts that are in your name.

Ninety Nine withdrawal fees and options

There is no fee for withdrawals at Ninety Nine. Similarly to deposits, you can only use bank transfer.

You can only withdraw money to accounts that are in your name.

How do you withdraw money from Ninety Nine?

Just follow the steps below:

• Go to 'Account'
• Click 'Retirar' (withdraw)
• Set the amount in euros in the 'Retirar dinero' (withdraw money) menu
• Click "Revisar"
• Your money will be transferred to the account from where you made your deposits

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Ninety Nine has its own mobile platform, available for both Android and iOS. The mobile trading platform is available only in Spanish.

Look and feel

The Ninety Nine mobile trading platform is simple and user-friendly and has a neat design.

Login and security

Ninety Nine provides a safe two-step login (two-factor authentication) for its mobile platform.

You can't log in using biometric authentication, though, a feature that would make the login process more convenient.

Search functions

The search functions work well. It is easy to find individual stocks both by name and by ticker.

Placing orders

Order types are limited to market orders at the moment. This means that limit or stop orders are not available.

Alerts and notifications

Unfortunately, you can't set alerts and notifications on the Ninety Nine mobile platform.

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Ninety Nine provides only US stocks and ADRs.This selection falls behind competing brokers, as brokers such as DEGIRO or eToro offer a lot more stock markets and products to trade.

Stocks and ETFs

Ninety Nine focuses on the US market. You can trade around 1,800 stocks and ADRs. ETFs are not yet available, and you also cannot buy fractional shares.

You can find research tools in the mobile app and on Ninety Nine's website.

Trading ideas

Ninety Nine does not provide trading ideas. However, it does offer some commentary, in the form of a blog (in Spanish) on its website. This is divided into six categories: financial culture, investments, tricks and tips, news, concepts and opinions. Ninety Nine also displays collections of companies in the same sector, like for example "Warren Buffet's favorites", banks, real estate or cryptocurrencies; helping to orient those who are looking for stocks in a particular sector.

Fundamental data

Ninety Nine offers some basic fundamental data, like gross margin or EBITDA.

Charting

Ninety Nine has basic charting tools. There are no technical indicators, and editing tools are also missing.

You can only use a basic chart and view limited key information, such as changes in the stock price and the trading range during a given period.

News feed

Ninety Nine offers only limited news services. If you click on an asset, it will list some news items related to that asset.

Compare research pros and cons

You can contact Ninety Nine via:

• live chat
• email

Ninety Nine has a fast live chat. We were satisfied with the quality of the answers.

In email, we got quick and useful replies not only in Spanish, but in English, too.

On the negative side, we missed phone support and 24/7 availability.

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At Ninety Nine, there is a selection of easy-to-understand articles under the 'Blog' section of the webpage about investing and financial culture, as well as news about the company's services.

We missed other educational tools, like webinars or videos.

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Is Ninety Nine regulated?

Yes, it is regulated by the National Securities Market Commission (CNMV), the body responsible for the supervision of Spanish securities markets.

It is also registered with the US Treasury (IRS) as a Qualified Intermediary and adheres to the Foreign Accounts Tax Compliance Act (FATCA). In addition, Ninety Nine is a member of Spain's Investment Guarantee Fund (FOGAIN) which insures client accounts up to €100,000.

Is Ninety Nine safe?

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

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

How you are protected

All customers are served by Ninety Nine Financial Markets, which is regulated by the National Securities Market Commission (CNMV). Customer assets and cash are protected up to €100,000 per account.

Background

Ninety Nine is a relatively young company, established in 2019. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Find your safe broker

We recommend Ninety Nine for beginners and investors looking for free us stock trading and a simple, easy-to-use mobile trading platform.

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

Lower fees, lower costs?

We detailed this in our Ninety Nine fees article.

What about the minimum deposit?

Our ultimate guide to the Ninety Nine minimum deposit is updated regularly.

How to start your Ninety Nine account?

Look no further than our evaluation of the Ninety Nine account opening.

How's their trading app?

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

Is the quality of customer service satisfactory?

All you need to know about the Ninety Nine customer service.

Legit or scam?

Is Ninety Nine 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 Ninety Nine is really free.

Is this broker good for beginners?

We checked it in Is Ninety Nine good for beginners.

Should you buy your silver bullets on Ninety Nine?

Research for silver bugs in the Silver buy on Ninety Nine guide

What is the minimum account balance at Ninety Nine?

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

How do you withdraw money from Ninety Nine?

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