BANX Broker – Review

BANX Broker user-ratings: $3000
9.4 of 10 points 1 reviews
  • Asset varierity - 10/10
  • Trading platform - 10/10
  • Support - 10/10
  • Fees - 9/10
  • Deposit/Withdrawal - 8/10

Facts about the company:

  • Type: Assets Broker 
  • Regulation: Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC)
  • Minimum deposit: $3000
  • Demo account: Free
  • Markets: 130+ Stock exchanges, Forex, Futures, Bonds, CFDs, Metals 
Comments Rating 9.4/10 (1 review)


  • Low-cost conditions 
  • US-Stocks from 1 cent 
  • Currencies from 0.4 pips 
  • Over 130 Stock exchanges 
  • 500.000$ Deposit Protection


  • Education material is difficult to find 
  • High minimum deposit 

About BANX Broker

The subject of this article is the Online Broker BANX Broker, which has its registered office in Düsseldorf. BANX GmbH is an Introducing Broker of Interactive Brokers (IB), a provider based in the USA. This means that BANX acts as an intermediary for IB in Germany. This means that the US broker is also responsible for managing the client’s securities account. IB was founded more than 41 years ago and can now be counted among the 5 largest online brokers worldwide.

IB currently employs around 800 people, with more than 1,200,000 transactions processed daily. BANX Broker offers customers more than 1.2 million different assets, which can be traded on a variety of trading venues around the world. BANX acts as an ECN broker, and for this reason, it forwards its clients’ orders to selected liquidity providers via an appropriate electronic communication network.

Screenshot of the BANX Broker Landing Page

Regulation and deposit protection of the Online Broker

Even before you get to grips with the range of services offered by an online broker to a large extent, you should first take a brief look at the regulation and deposit protection of the respective provider.

The regulation of online brokers is carried out by the British Financial Services Authority FCA.

In order to secure the deposits of its customers, these are kept in segregated accounts separate from the company’s own corporate accounts. The segregated accounts of the customers are also regularly monitored by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). In the event of insolvency, customers of the Online Broker can therefore still access their own securities account at any time.

BANX Broker offers these types of securities accounts

Once an interested investor has decided in favor of BANX, the next step is to select one of the types of securities accounts offered. Basically, there are three alternatives available with the online broker: The cash deposit, the margin deposit, and the portfolio margin deposit.

Cash Deposit
The minimum requirements for opening a cash deposit are a minimum age of 18 years and a deposit of at least $3,000. It is also possible to open an account by means of an account transfer (the total value must also be at least $3,000). Trading on margin is not possible with this custody account, the respective products must be paid in full.

Margin Deposit
The minimum age for opening a margin account is set slightly higher at 21 years, but the minimum deposit sum at the opening is also 3,000 dollars. Trading on Margin is possible here, but only if you have a balance of more than 2,000 dollars. In contrast to the cash deposit, this type of deposit also allows the short-selling of shares.

Portfolio Margin Deposit
In principle, the portfolio margin deposit is to be allocated to the aforementioned margin deposit. For this purpose, a capital of at least 100,000 dollars is required to open an account. The Portfolio Margin-Depot is an “offensive-based model”, through which the customer can additionally strengthen his purchasing power. However, US commodity futures, futures options, US bonds, mutual funds, and foreign exchange positions cannot currently be traded using this model.

Assets offered by BANX and trading conditions
After having looked at the different types of securities accounts of the provider, we will now focus on the assets that are available at BANX. As mentioned at the beginning, customers can choose from more than 1.2 million financial products, which can be traded on more than 125 stock exchanges in over 31 countries worldwide.

Shares & ETFs
Initially, clients can trade a wide range of stocks and ETFs on BANX, with a choice of both national and international underlying.

The fees incurred when trading in shares also depend primarily on the respective stock exchanges. The following table provides a brief overview of the fees and commissions charged by the various stock exchanges in the US.

Fixed Minimum per OrderMaximum per Order
USD 0,01 per shareUSD 3.001% of trade value

For US shares, the minimum per order is USD 3.00. On the NYSE and the NASDAQ, however, underlying can already be traded with commissions starting at USD 0.01 per share. The exchange fees of the respective countries can be viewed at any time on the BANX website if you are interested.

BANX Broker Trading options

In addition, BANX also offers numerous bonds that can be traded in the USA, Europe, or Hong Kong.

Fixed-interest securities can be traded in Europe from 5.00 euros and in the USA from 5.00 US dollars. While the commission on European bonds is between 0.015% and 0.1% of the transaction volume, commissions in the USA range from 0.025% to 0.05% of the transaction volume.

CFD Trading
Trading CFDs is also interesting for many investors. Customers of the online broker it is possible to trade CFDs on shares and indices leveraged long or short.

The commissions of European stock CFDs are composed as follows:
Here, too, the commissions depend on the respective transaction volume. In the USA, CFDs can be traded from as little as USD 0.01 per CFD.

The conditions of CFDs on indices, however, are slightly different. Here the fee per execution is 0.01% in the USA and Germany. The minimum fee is 3.00 USD or 3.00 Euro.

And a number of currency pairs can also be traded on BANX. In addition to the classic main currency pairs, customers can also trade many exotic currency pairs (for example MXN, ILS, SEK, NOK, CZK, DKK, NZD) with this provider.

In terms of commissions, the online broker initially charges a flat fee of 0.4 basis points of the respective transaction volume for trading currency pairs.

Precious metals
Apart from this, BANX also offers the possibility to trade various precious metals. Besides futures and ETFs, it is also possible to trade the precious metals directly in London.

The commission for trading in precious metals via the BANX Broker amounts to 0.3 basis points of the trading volume with a minimum fee of USD 5.00. Apart from this, a storage fee of 0.1% of the purchase volume is charged annually.

In addition to this, trading in futures, BANX clients benefit from direct access to leading futures exchanges around the world:

  • Europe – EUREX
  • Asia

BANX customers can trade futures on a large number of European exchanges (including EUREX) with a commission of only EUR 2.00 per contract, in the USA from as little as USD 2.90 per contract. Individual wholesale conditions are offered for all traders with a monthly transaction volume of more than 1,000 contracts.

Last but not least, the online broker also offers its customers options trading. Here, too, investors have access to all major markets around the world.

Both index options and stock options can be traded on BANX from as little as 2.00 euros per contract, while in the USA the commission is 3.50 US dollars per transaction. When trading over 50 contracts per month, it is also possible to be offered individual trading conditions.

Which trading software is provided by BANX Broker?

rader Workstation

First and foremost, the BANX website promotes the Trader Workstation 4.0 (TWS) trading platform, which has already been awarded in the past for features such as user-friendliness, reliability, stability, and technical superiority. In 2013 the software was once again voted one of the “best trading platforms worldwide” by the renowned trading magazine Barron’s.

BANX Trader Workstation

The platform provides 40 order types, algorithms, and various tools for trading the numerous securities, thus creating optimal conditions for the strategy formation and trading processes of the customers.

In addition, the software has a number of other useful functions, including real-time monitoring, price-risk analysis, messages, tools, and modules.

Real-time monitoring provides an immediate overview of the portfolio. The TWS Account window displays basic information (account balance, margin, market value, etc.), profit/loss, trade reports, alarms, margin requirements, and watch lists.


For customers, who do not want to download any software, there is a corresponding alternative with WebTrader. The trading platform is equipped with fewer functions than the TWS software and is especially suitable for traders who trade with simpler strategies and who, on the bottom line, tend to trade less. As advantages the provider lists the following points:

  • Uncomplicated operation
  • News as well as fundamental data, realtime prices, realtime market data and news
  • Extended dashboard with overview of current account balance, margin requirements, positions and list of trading products
  • Integrated order types: Bracket, Discretionary, Good ‘Till Date/Time, Limit, Market, Stop, Stop Limit, Limit On Close, Market On Close, Trailing Stop, Trailing Stop Limit
  • Market depth via the BookTrader
  • Customizable functions and tools on the user interface


BANX Broker MobileTrader

For interested investors and traders, BANX offers the MobileTrader, a solution for trading on mobile devices such as Smartphones or laptops while on the move. The mobile version also offers a variety of useful functions, including the following:

  • Trading in stocks, options, futures, futures options and currencies
  • Real-time market data, charts, and market scanner
  • Deletion and modification of orders
  • Price alerts with e-mail notification
  • Market review
  • Execution reports
  • Portfolio insight

MobileTrader can be downloaded for devices with IOS and Android software.


With AgenaTrader, the online broker provides its customers with another platform alternative that enables fully automated trading even for investors without programming knowledge. In addition to automated trading, the trading software also has numerous extensions, for example, the semi-automated trading approach.

  • Drag & Drop
  • Opening up to 2,000 different charts simultaneously
  • Individual risk and money management
  • Automatic calculation of order sizes
  • Clear operation
  • Extensive video material

As a customer you can choose between two models, the basic version and the Andromeda version.

The customer service at BANX Broker

An important aspect that should not be neglected when looking for a suitable online broker is customer service. If questions, problems, or concerns arise, the Online Broker offers several ways to contact them.

On the one hand, there is the possibility to visit the customer service directly on-site at the branch in Düsseldorf, which is available from Monday to Friday from 09:00 am to 7:00 pm. In addition, the support can of course also be reached by telephone (also from Monday to Friday from 09:00 am to 7:00 pm). And last but not least, BANX Broker also has a service e-mail address.

As a rule, the support team will respond quickly and take care of the corresponding request.

Support available:Monday to Friday from 09:00 am to 7:00 pm
Telephone:+49 211 – 97177850
Language: 2+

Demo account

Before you deposit into a live account with BANX Broker, you have the possibility to test the Online Broker via a demo account without financial risks. With a virtual balance, the functions and tools of the Online Broker as well as trading strategies can be tried out without real money. The demo account is suitable for both beginners in trading and for advanced traders and can be used for an unlimited period of time.

Registration for the demo account is quick and you can start using the virtual credit immediately.

Offers for training and further education at BANX

In the meantime, BANX also offers opportunities for further training. The online broker offers a variety of video tutorials and webinars on various topics on its website.

In addition, there is also a trading lexicon, in which the basic contents relating to trading are explained in an understandable way.


Last but not least, a brief look at the experiences to date with online brokers on the Internet should be taken. The bottom line is that the opinions on the Internet are rather positive. In this context, the favorable trading conditions and the large selection of tradable assets are particularly cited as positive aspects. And the range of different trading platforms is also appealing to the majority of investors.

To sum up we might say, that BANX Broker is a trustworthy Online Broker on who traders all over the world can rely on and make use of the great trading opportunities it has to offer. Everyone who is still undecided can try the free demo account.

Most asked questions:

Is BANX Broker Trustworthy?

The Online Broker BANX Broker is regulated by the FCA. In addition, it follows the guidelines of the institutions SEC and CFTC. Moreover, customer service is really reliable and trustable which offers transparency.

What is the minimum deposit?

The minimum deposit for US customers is $3000 from the age of 21. At this time, it has to be stated, that at least professional investors can benefit from higher returns with the Margin Depot. Though the minimum deposit is high set, there are no further fees charged.

Which products can be Traded?

BANX Broker offers various trading options for customers. Multiple assets are tradable as well as Stocks, Forex, CFDs, ETFs, and more.

When is the customer service available?

BANX Broker has its headquarters in Germany which is why the customer service times for the European countries are based on the German time. Clients in the US can reach the customer service from 9 am to 7 pm from monday to friday. Same is valid for the European customers.

One Response

  1. Andre Witzel August 29, 2020

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