LYNX Online Broker for Forex Trading
LYNX is a trading platform and broker owned by LYNX B.V. The company is based in the Netherlands and offers its services primarily to customers in European countries. These countries include the Netherlands, Germany, Belgium, France, the Czech Republic, Poland, Slovakia, Finland, and Switzerland. You can also open an account and trade internationally, though the USA is excluded.
For eleven years running, Barrons magazine has honoured the platform as the most stable and usable investment software online. LYNX has received quite a few other awards as well, including Best Online Broker in 2013 and 2015 from Handelsblatt, and Best Broker in the Netherlands from Beleggers Belangen from 2009 through 2013.
In our Lynx platform review, we will teach you all about the history of this broker, how to sign up and use LYNX, what kinds of features and support you can expect, and more. Let’s get started.
History of LYNX
The LYNX online broker got started in 2006. Initially, the company was focused on offering trading services to Dutch customers. It enjoyed swift success and was able to expand quickly to other countries. Today, tens of thousands of traders throughout Europe and around the globe choose LYNX as their platform and broker.
How to Use LYNX
To start trading with LYNX, you must first sign up for an account. This is a fast and easy process and should take you no more than around 10 minutes. Look in the upper right-hand corner of the homepage for the bright yellow button which says ‘Open an Account’ and click on it.
Next, fill in your basic personal information. You will need to go through several screens of information to complete this step. You will then be asked to provide your bank account information and to put in a deposit amount. $3,000 is the minimum initial deposit in most cases; the exception is if you are transferring a portfolio from another broker. After that, you will be able to select the products you are interested in.
Once your account sign-up is complete, you can download the LYNX software for your desktop or laptop computer. If you prefer, LYNX is also available for your iOS or Android mobile device. Additionally, there is the LYNX Basic software, which you can access online without downloading anything. Whether you choose the LYNX mobile platform, or you stick with the desktop/laptop version, you will find the software is easy to use and offers a rich suite of features.
Which Forex Brokers Are Offering LYNX?
LYNX is the proprietary platform of the broker by the same name. If you want to use it as your trading platform, you must connect it with a LYNX trading account. You cannot connect it to another broker account. To get technical, here is what the terms and conditions say:
The service of LYNX is limited to the following: (1) LYNX will open an account in the name and at the expense and risk of the client with Interactive Brokers (UK) Limited (referred to as “IB”).
This is a bit confusing, as LYNX does refer to itself as your broker (it is even in the URL). Suffice to say you are doing business with IB via LYNX, and LYNX will not connect you to another broker. The platform may be referred to as LYNX, but it is also more formally known as TWS by Interactive Brokers.
This being said, you can always open an account at LYNX and somewhere else as well and not connect them. This gives you the option of planning your trades with LYNX even if you want to place them elsewhere. You just need to do it all manually.
Best LYNX Forex Brokers On The Forex Market 2018
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