Lynx Forex Trade Platform and Broker Review

Lynx Forex Trade Platform and Broker Review

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Lynx Broker Review

Lynx is a sizeable European online broker that provides traders with access to over 100 markets in 24 countries across the globe. Trading is offered on a fast and reliable platform. 

Lynx was first founded in 2006 and headquartered in Amsterdam, with main offices in Belgium, Germany, and the Czech Republic. Today, Lynx has over 100 employees.

Is Lynx Regulated?

Yes, Lynx is regulated by the Netherlands Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB).

According to the broker’s website, Lynx is under regulation for providing licensed investment and financial services within the cross-border European Economic Area under the auspices of The Markets in Financial Instruments Directive (MiFID).

Lynx’s regulations guarantee transparent financial practices coupled with extended client protection measures. These include participation in a customer compensation scheme that covers traders in case of broker insolvency, as well as protection of segregated client deposits.  

Is Lynx Regulated in the United States?

No, Lynx is not regulated in Virginia or any other US state. 

Is Lynx Regulated in Europe?

Yes. Lynx has been regulated in Europe since 2007 by the Cypress Securities and Exchange Commission (CySEC). In Europe, Lynx offers cross-border investment services as a regulated Forex broker. 

Is Lynx regulated in a Tier-1 Jurisdiction?

According to the Lynx website, Lynx is regulated under Tier-1 jurisdiction. 

Licensing for operations within a Tier-1 jurisdiction means that brokers can provide regulated investment services in specific countries. These include Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

Is Lynx regulated in Tier-2 Jurisdiction?

According to the official Lynx sources, Lynx is regulated under Tier-2 jurisdiction. 

Tier-2 jurisdiction also means that the broker is licensed to operate in specific countries. These may include British V.I., Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

What are the Platforms and Tools for Forex Trading in Lynx?

Lynx offers traders one type of proprietary trading software, namely the Lynx Trading Platform, which has been specially developed to provide enhanced trading features and conditions.   

  1. The Lynx Trading Platform gives the possibility to choose between more than 60 different order types and provides access to over 100 markets in 24 countries.

The order types which this software fulfills vary from frequently used orders, such as limit orders, stop-limit orders, and market orders to more advanced types, such as bracket and iceberg orders.

Does Lynx Have a News Blog for Forex News?

No. Lynx does not provide a news blog. Many brokers include a news feed on their website which allows traders to follow weekly updates about relevant market developments. This will allow traders to adjust their strategies and positions in time. 

Does Lynx Have a Traders Dashboard?

No, Lynx does not provide a Traders Dashboard. Some brokers provide access to a Traders Dashboard on their website. This is a central area from which users can monitor important data streams about currency prices, fundamental and technical analysis. 

Does Lynx Have an Educational Section?

No, Lynx does not provide an educational section on its website for absolute beginners. However, the broker does provide several useful analytical tools which can be used by beginner through to advanced traders. 

What is the content of Lynx Forex Education?

There are six Trader Tools available from the Lynx website that can be used by traders for enhanced market analysis. These Trader Tools are listed below.

  • BookTrader: a good trading tool for all future and day traders. It only takes two clicks to place an order via the deep book, which sends the order directly to the stock exchange. 
  • OptionTrader: this is a useful tool for both beginner and more experienced options traders. Quickly analyze the risks, and place orders and combination orders. It displays all options Greeks continually.
  • ComboTrader: this tool is ideal for traders wanting to send complete option combinations to the exchange. As soon as your order is filled, you can be sure that the entire combination was bought. 
  • FXTrader: this is a good tool for active forex traders. Users can create their Forex trading screen and select the currency pairs which they would like to trade.
  • Chart Trader: this tool allows users to place, change or cancel orders directly in their real-time chart. They can therefore immediately respond to price movements.
  • MarketScanner: MarketScanner gives users access to a unique tool that provides a clear overview of all relevant stocks.

Is Lynx Legit?

Yes, Lynx is a legit Forex Broker and Trade Platform. Lynx has AFM and DNB legal certificates to perform Forex Broker and trading services.

Is Lynx Safe?

Lynx is a reliable and safe Forex Trade platform in terms of its regulation and safety protocols. The broker is regulated in Tier-1 jurisdictions by the Netherlands Authority for the Financial Markets (AFM).

In terms of its safety protocols, trader accounts are protected by very strict security measures against any unauthorized access. In addition, a transfer from your investment account to your contra account is only possible if you have verified the account number of the contra account.

Is Lynx a Good Broker?

Yes. According to the Forex Suggest review, for security, and trading speed, Lynx is a good broker. 

  1. In terms of trading speed, the Lynx Trading Platform allows for fast switching between candlestick, bar, and line charts and places orders directly in the chart.
  2. In terms of security, Lynx is regulated by government agencies established for that purpose: De Nederlandsche Bank (DNB) and the Dutch Authority for the Financial Markets (AFM).
  3. In terms of online support, unfortunately, Lynx does not offer a live chat option for traders. Clients will have to contact the support team through the more traditional methods of telephone and email. 
  4. In terms of cryptocurrencies, unfortunately, Lynx does not appear to offer access to crypto coins or CFD trading on cryptocurrencies at this stage.

What is the Offering of Investment in Lynx?

Offerings of Lynx can be found below.

Feature Lynx
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) No
Social Trading  No

Does Lynx have Nasdaq?

Yes, Lynx offers traders the option of trading CFDs on the Nasdaq 100 Stock Index. The Nasdaq is an electronic exchange where stocks are traded through an automated network. It lists the stocks of the 100 biggest companies in the global markets. 

What are the Awards of Lynx?

Forex Trading Platform Lynx’s awards are listed below.

  • Best Broker in the Netherlands from Beleggers Belangen in the years 2009 to 2013, as well as in 2018 and 2019
  • Winner Golden Bull – The best broker in 2013 and 2016
  • Best Service from CASH Magazine in 2013, 2015, 2016, 2018 and 2019
  • Best Broker All round from Comparative Brokers.nl in 2016 and 2017

How to Use Lynx for Forex trading?

To use Lynx, a forex trader should have the necessities below:

  1. A copy of their identification documents
  2. They should be 18 years or older and reside within the European Union
  3. They should be able to afford the minimum deposit of €3 000

If a Forex Trader has the conditions above, they can open a forex trading account to use Lynx. 

How to open a Forex trading account with Lynx?

To open a Forex Trading account with Lynx, a trader should follow the steps below.

  1. Navigate to the account registration portal on the official Lynx website
  2. Provide your personal and financial information.
  3. Add info about your trading experience and fill out a questionnaire on your financial knowledge.
  4. Verify your identity and residency. Upload a national ID or passport to verify your identity; bank statements are accepted as proof of residency.

What is the Forex Trader Account Types with Lynx?

Forex Trading Platform and Financial Asset Management Institution Lynx have 4 different account types. Every Forex trading account type has different features and conditions with Lynx. 

Lynx Account Types are listed below. 

  1. Demo Account

  2. Individual Account

  3. Joint Account

  4. Corporate Account

  • Demo Account

Lynx provides a free demo account to new traders, which will allow them to test out the broker’s trader features before signing up for a real account. The demo account provides access to the desktop platform. 

  • Individual Account

The Individual Account from Lynx is to be used by one trader to provide them with access to several trade features, which are described below. 

  • Professional trading platform: fast, stable, and reliable
  • Very low fees
  • Professional guidance of the LYNX team
  • Traders can choose from 21 base currencies to fund an account.
  • If a trader funds an account in the same currency as a bank account or trades assets in the same currency as the account base currency, the trader does not have to pay a conversion fee.
  • Traders thus can save on currency conversion fees by opening a multi-currency bank account at a digital bank.
  • Traders can only use bank transfers to fund an account
  • Lynx charges no deposit fees.
  • Joint Account

A joint account from Lynx is owned by two account holders and can be used by either one of them. Traders can open one Joint account to share with their trading partner, and both of these users can access the account and platforms and also deposit/withdrawal from accounts registered under their names.

After you and your partner’s registration process is completed, both of you will not have any restrictions on managing funds and accounts in the future.

  • Corporate Account

The Corporate Account from Lynx is designed to be used by Institutional Clients and Corporations. This account will provide specialized trading conditions for these businesses, and can be opened by contacting the customer support team directly. 

How to Withdraw Money from Lynx?

To withdraw money from Lynx, the following should be done:

  • Navigate to the Client Portal, then click ‘Transfer & Pay' and ‘Transfer funds'
  • Select the account you want to use for the transaction
  • At the top of the page, click the ‘Withdraw Funds' tab
  • Select the currency of your withdrawal, then the withdrawal method
  • Fill in the required information (this is different for each withdrawal method)
  • Submit your withdrawal request
  • In ‘View Transaction History, you can see the status of your request

How many days do deposits take with Lynx?

Deposit times with Lynx will vary according to the chosen deposit method. Bank transfers can take up to 4 business days to arrive. E-payments will take up to 24 hours to reflect. The broker does not accept credit or debit cards.  

What are the costs and fees with Lynx?

There are three types of costs with Lynx. Commission costs will vary depending on the chosen instruments, spread costs are for all account users, and swap costs are for traders that hold positions open overnight. 

A Forex Trading Cost is charged by the broker for the provision of its trading services and is the way the broker will make a profit. These Trading Costs are typically applied in three different ways. Spreads are expressed as pips and are the difference between the bid and the asking price. 

Commissions are charged on round trades and only applied to certain instruments or accounts, while swaps are interest accrued on positions held open overnight. 

The Forex Trading Fees with Lynx are below. 

  • Forex: You can easily trade on the forex market in, for example, euros, dollars, pounds, or yens. The minimum spread is only 0.1 pip.
  • Options:  you pay 25% of the residual value of your in-the-money options in risk premium. A minimum of € 50 and a maximum of € 2,500 applies for this.
  • Futures: from between EUR2.50 and EUR4.00
  • Shares: from between EUR6.00 and EUR.10.75
  • ETFs: from between EUR6.00 and EUR45.00
  • CFDs: from a minimum of EUR6.00

What are the Trading Fees with Lynx?

Lynx has competitive Forex fees with low spreads that start at just 0.1 pip. The broker also charges an inactivity fee of €5 per month for dormant accounts. If you have a portfolio exceeding €100,000, you will be exempt from this fee.

The first withdrawal of every calendar month is free. Subsequent withdrawal charges vary by currency. 

What is the minimum deposit in Lynx?

The minimum deposit amount required to open a Trader Account with Lynx is EUR3000.  

What are the contract specifications in Lynx?

Feature Lynx
Forex Trading Yes
CFDs 7+
Forex Pairs 80+
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 0
Social Trading  No

Does Lynx have promotional offers?

No, Lynx does not provide promotional offers or bonuses to its new or existing clients. 

This is mainly because the broker is regulated by the Netherlands Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB), which have restricted the offering of bonuses. 

Does Lynx have a welcome bonus?

No, Lynx does not have a welcome bonus. 

However, Lynx offers an excellent trading environment, with low fees and award-winning trading technology. 

The LYNX Trading Platform has already been awarded several times as the world’s best trading platform. Besides having been singled out several times as Best Broker, the customer service of LYNX has also received the Best Service Award from CASH Magazine for the past two years

Does Lynx have a deposit bonus?

No, Lynx does not offer a welcome bonus.  This is because Lynx is restricted from offering such a bonus by its regulators.  

Is there a commission-free trade bonus in Lynx?

No, Lynx does not offer a commission-free trade bonus. However, the broker does offer the first withdrawal of every month for free. 

Is there a VIP bonus in Lynx?

No, Lynx does not offer a VIP bonus. Traders seeking VIP conditions can contact the broker’s customer support team to set up a tailored account.  

Can you start trading with no money at Lynx?

No, you cannot start trading with no money at Lynx. This is because Lynx does not offer any deposit bonus, therefore traders will need to deposit their funds when opening a Trader Account.

How does leverage work with Lynx?

Leverage is the use by traders of borrowed capital to invest in a currency, stock, or security. The concept of leverage is very common in forex trading. By borrowing money from a broker, investors can trade larger positions in a currency and possibly increase their profits. 

Traders can use leverage with Lynx by changing the leverage ratio from the settings within their trading account. Lynx offers a maximum leverage ratio of 1:40, depending on the instrument being traded.  

Where are the headquarters of Lynx?

Lynx is headquartered in Amsterdam in the Netherlands. Lynx also has main offices in Belgium, Germany, and the Czech Republic.

Who is Lynx’s CEO?

Lynx does not divulge the information regarding the company’s CEO.

What are the social media accounts of Lynx?

Traders can follow Lynx on the following social media accounts:

  • Twitter
  • Facebook
  • Instagram
  • YouTube

How many employees do work for Lynx?

Lynx has over 100 employees.

What are the opinions about Lynx?

Lynx is a good option for traders seeking technologically advanced trading experience. The Lynx Trading Platform consists of award-winning proprietary software that gives traders multiple indicators and access to a wide range of assets, with over 80 currency pairs. 

Lynx is very well regulated and provides extensive client protection measures. Unfortunately, the broker is not available to traders outside of the European Union. 

What are Lynx Contests?

Lynx does not run any kind of Forex Trading Contests. Forex Contests can be performed for brokers who offer them to traders to profit on contest winnings. 

Lynx didn't perform any Forex Contest in the past. For the future forex exchange contests and competitions, Lynx didn't perform any official announcements yet.

Does Lynx have online support?

No, Lynx does not provide online support. This means that traders will not be able to resolve their queries in real-time, and will have to rely on the more traditional methods of telephone or email. 

Does Lynx offer demo accounts for Forex trading?

Yes, Lynx offers a free demo account for all new traders. The demo account can be opened with the following steps:

  1. Go to the demo account registration area on the broker’s website
  2. Fill out the online registration form with the relevant information, including your full name, email address, and contact details
  3. A confirmation email will be sent to your inbox. Open the link in the email to open your demo account. 

Does Lynx have a mobile app for Forex trading?

Yes, Lynx offers the proprietary Lynx Apps for Android and iOS. 

These mobile apps give you access to the stock markets and your account at any given moment. As a leading broker, Lynx has given its investors the possibility to place orders and monitor positions and portfolios in real-time by mobile phone.

As such, the mobile apps will have the following benefits:

  • View streaming prices and charts in real-time
  • Trade-in all shares, options, futures, and currencies
  • Configure your price alerts
  • Scan and find new opportunities with the mobile scanner
  • Monitor your orders, portfolio, and current positions in real-time

Does Lynx publish an economic calendar?

An economic calendar is a popular tool that allows Forex traders to keep up to date on relevant economic information that is scheduled to be released, which may impact the currency markets and therefore their trades. 

Lynx does not offer an economic calendar. 

What is the communication information of Lynx?

Lynx has one telephone number and two local addresses. 

Lynx’s main telephone number is: +31 (0)20-6251524

Lynx’s main local address is: LYNX Nederland Herengracht 527 1017 BV AMSTERDAM