Overview of LYNX
LYNX is a brokerage based in the Netherlands, operating under the supervision of The Czech National Bank (CNB) for the past 5-10 years. The platform offers a diverse range of trading instruments, including stocks, ETFs, stock options, futures, futures options, bonds, currencies, and investment funds, providing investors with ample opportunities to diversify their portfolios.
For account types, LYNX caters to individual, joint, and business accounts, allowing users to choose the most suitable option for their trading needs and preferences. The minimum initial deposit required is €3,210, making it accessible to investors with varying capital levels. LYNX offers two primary trading platforms, Trader Workstation (TWS) and LYNX+, catering to different types of investors.
In terms of funding methods, LYNX supports bank transfers, credit cards, and debit cards, offering flexibility for users to deposit and withdraw funds. Customer support is available through email and phone, ensuring that clients can seek assistance when needed.
Is LYNX legit or a scam？
LYNX is regulated by the CNB with a retail forex license. This regulation ensures that the company operates under the supervision of the Czech National Bank and is authorized to offer forex trading services to retail clients. The legitimacy of LYNX is further strengthened by its compliance with regulatory requirements and oversight from a reputable financial authority.
Potential users can have confidence in the company's services and customer support, knowing that it adheres to established standards and regulations. However, it is essential for individuals to conduct their due diligence and research before engaging in any financial activities with LYNX or any other brokerage.
Pros and Cons
LYNX is regulated by the CNB, providing investors with confidence in the legitimacy and reliability of the platform. The regulation ensures that the company operates under the supervision of the Czech National Bank and is authorized to offer forex trading services to retail clients.
This oversight by a reputable financial authority strengthens the company's compliance with regulatory requirements, ensuring a transparent and secure trading environment for users. Additionally, LYNX offers a diverse range of trading instruments, including stocks, ETFs, options, futures, bonds, currencies, and investment funds.
LYNX's customer support availability is limited to weekdays from 8:00 a.m. to 10:00 p.m. Investors who may require assistance outside these hours may find it challenging to get immediate support. Another consideration is the relatively high minimum initial deposit required to open an account with LYNX. This might be a barrier for some potential investors who have a lower starting capital. It is essential for individuals to carefully assess their trading needs and account requirements before committing to an account with LYNX.
Market Instruments
LYNX offers a diverse range of market instruments, including stocks, ETFs, stock options, futures, futures options, bonds, currencies, and investment funds. Stocks represent ownership in a company, while ETFs provide exposure to a basket of securities. Stock options and futures offer opportunities for speculation and risk hedging. Bonds are debt securities issued by governments or corporations. Currency trading allows participation in the foreign exchange market.
Investment funds provide diversification across various assets. LYNX also provides access to equity futures and indices, enabling trading on market performance. Additionally, they offer warrants, providing the right to buy or sell an underlying asset at a specified price. With this array of market instruments, LYNX caters to diverse investor needs, empowering them to make informed and strategic decisions.
Account Types
LYNX offers several types of trading accounts to cater to different needs and preferences. The first category is individual investment accounts, which are designed for one natural person to be the registered account holder. The individual has full control and fiscal responsibility for the account. However, they can appoint proxies to trade on their behalf while retaining exclusive ownership of the securities.
The second type is joint investment accounts, primarily used by couples, partners, or friends who wish to invest together. These accounts are limited to two account holders, both of whom have equal rights and responsibilities regarding the account. If more than two people want to trade together but have only one person legally owning the securities, an individual securities account with authorized access to others is also an option.
For corporate entities, LYNX provides corporate investment accounts. These accounts are suitable for companies and organizations, allowing them to engage in speculation, medium- to long-term investments, and hedging currency or commodity price fluctuations.
Additionally, LYNX offers the choice between cash or margin accounts for individual, joint, and business accounts. A cash account is sufficient for trading regular stocks, while a margin account is necessary for trading options, futures, or other derivatives, which involve higher risk profiles. A margin account provides the option to trade on margin but is not mandatory. LYNX allows users to convert between cash and margin accounts based on their knowledge and experience levels.
How to Open an Account？
To open an account with LYNX, follow these 5 steps:
Visit LYNX website: Go to https://www.lynxbroker.com/ and navigate to the account opening page.
2. Choose your country: Select your country of residence from the available options. This step is important as it determines the specific account types and services available to you based on your location.
3. Fill out the application form: Provide the required information in the account application form. This typically includes personal details, contact information, financial information, and other necessary data.
4. Verify your identity: Follow the verification process to confirm your identity. This may involve submitting identification documents, proof of residence, and other relevant paperwork.
5. Fund your account: Once your application is approved and your identity is verified, you can fund your account to start trading. LYNX offers various funding options like bank transfers, credit/debit cards, and electronic payment methods.
Leverage
The maximum leverage for CFDs at LYNX is 40:1. This means that for every $1 you deposit, you can control a position worth up to $40. However, it is important to note that leverage can magnify your losses as well as your profits. Therefore, it is important to use leverage carefully and to understand the risks involved.
The maximum leverage available to you will also depend on the underlying asset you are trading. For example, the maximum leverage for forex trading is 30:1, while the maximum leverage for stock trading is 2:1.
Spreads & Commissions
LYNX claims to provide a comprehensive comparison of online brokers that extends beyond transaction costs. They assert the importance of considering factors such as platform reliability, global trading capabilities, and the level of professional customer service offered. Additionally, LYNX emphasizes their commitment to transparency, aiming to offer clients clear and straightforward fee structures, avoiding any hidden charges, including currency conversion fees, stock exchange fees, and dividend fees.
Although specific data is not available on their official website, LYNX asserts that they offer competitive spreads and commissions, enabling clients to access a diverse range of financial products and trading opportunities without incurring excessive costs. They also highlight their advanced trading platform, designed to facilitate seamless trading experiences, and their dedication to providing top-notch customer support services. With a broad product range, LYNX aims to cater to the distinct needs of different investors.
Trading Platform
LYNX provides a range of trading platforms to cater to different types of investors. One of their primary platforms is the Trader Workstation (TWS), an advanced trading platform designed for active traders. TWS offers extensive technical and fundamental analysis capabilities, allowing users to make informed decisions. With over 60 order types, access to the depth book, and various trading tools, investors can effectively determine their entry and exit points. The platform is compatible with Windows, Mac, and Linux, offering flexibility for users.
For those who prefer a web-based platform without the need for software downloads, LYNX offers LYNX+. This practical web trader allows users to monitor their portfolios, use essential indicators, and place orders in a simplified manner. Despite its user-friendly interface, LYNX+ offers many options for ambitious investors. It can be accessed on major browsers like Chrome, Edge, Firefox, and Safari. This platform suits investors who prefer a streamlined experience but still desire access to essential features and functionalities.
Deposit & Withdrawal
LYNX offers a variety of deposit and withdrawal methods, including bank transfer, credit card, and debit card. There are no deposit fees, and withdrawal fees are only charged if the withdrawal amount is below a certain threshold.
To deposit funds into your LYNX account, you can simply log in to your account and select the “Deposit Funds” option. You will then be prompted to enter your bank account details and the amount you want to deposit.
To withdraw funds from your LYNX account, you can simply log in to your account and select the “Withdraw Funds” option. You will then be prompted to enter your bank account details and the amount you want to withdraw.
The minimum deposit amount at LYNX is $3,210. The minimum withdrawal amount is $100. Withdrawals are processed within 2 business days.
Customer Support
The customer support team is available on weekdays, Monday to Friday, from 8:00 a.m. to 10:00 p.m., giving clients ample time to seek help when needed. Whether it's discussing account-related matters, trading strategies, technical issues, or any other concerns, LYNX's service team is committed to delivering comprehensive and timely support to their clients.
Clients can reach customer support via phone at +31 (0)20 6251524 or through email at info@lynxbroker.com. Additionally, they can use the freepost mailing option for written correspondence.
Educational Resources
LYNX offers a wide range of educational resources to help investors make informed decisions in the stock market and beyond. From detailed stock analysis and buy recommendations to insights into dividend stocks and IPOs, they provide valuable information on various investment opportunities. For those interested in stock indices, LYNX offers in-depth analyses of major indices like DAX, MDAX, Euro Stoxx 50, Dow Jones, and Nasdaq 100, along with top flop lists and market analysis.
Investors can also learn about options trading, futures, penny stocks, ETFs, CFDs, raw materials, and certificates through their comprehensive educational materials. Additionally, LYNX covers technical analysis, fundamental analysis, trading strategies, and risk management to enhance investors' trading skills. Their educational resources, including webinars, podcasts, and live sessions, cater to both novice and experienced traders, empowering them with knowledge to make smart investment decisions.
Conclusion
LYNX is a well-established and regulated brokerage based in the Netherlands, operating under the supervision of The Czech National Bank (CNB) for the past 5-10 years. With a diverse range of trading instruments, including stocks, ETFs, options, futures, bonds, currencies, and investment funds, LYNX provides investors with ample opportunities to diversify their portfolios.
The platform caters to individual, joint, and business accounts, offering flexibility to traders with varying preferences and capital levels. The availability of Trader Workstation (TWS) and LYNX+ as trading platforms ensures that users have a choice in their trading experience. Customer support via email and phone helps users seek assistance when needed.
FAQs
Q: Is LYNX regulated by any financial authority？
A: Yes, LYNX is regulated by The Czech National Bank (CNB).
Q: What trading instruments does LYNX offer？
A: LYNX offers stocks, ETFs, options, futures, bonds, currencies, and investment funds.
Q: What types of accounts can I open with LYNX？
A: Individual, joint, and business accounts are available options.
Q: What is the minimum initial deposit required by LYNX？
A: The minimum initial deposit is €3,210.
Q: How can I contact customer support at LYNX？
A: You can reach them via email and phone support.
