Brokerpoint Review 2023

  • 8.4

Brokerpoint review summary

Brokerpoint is a Germany-based global stockbroker for investors and traders. Brokerpoint has low stock and ETF fees. Thanks to its link to Interactive Brokers, it covers a vast range of markets and products, and offers a multitude of great research tools on its sophisticated trading platforms. Partly because of that, though, we recommend this broker mainly for advanced traders: the account opening process is complicated and the trading platforms are not so simple to use. In addition, customer service and education tools are almost non-existent, which is a big drawback for beginners. BrokerChooser gave Brokerpoint a 4.2/5 rating based on analyzing 500+ criteria and testing via opening a live account.

Brokerpoint is available in Pakistan

Brokerpoint pros and cons

Pros Cons
Low stock and ETF fees Weak customer service
Wide range of products High futures and options fees
Many great research tools No educational tools

Brokerpoint main highlights

🗺️ Country of regulationIreland
💰 Trading fees classLow
💰 Inactivity fee chargedYes
💰 Withdrawal fee amount$0
💰 Minimum deposit$0
🕖 Time to open an account>3 days
💳 Deposit with bank cardNot available
👛 Depositing with electronic walletNot available
💱 Number of base currencies supported3
🎮 Demo account providedNo
🛍️ Products offeredStock, ETF, Forex, Fund, Bond, Options, Futures, CFD
Our overall Brokerpoint review Brokers rating
  • 8.4

  • Fees
    8.2
  • Account opening
    5
  • Deposit and withdrawal
    6
  • Web Trading platform
    10
  • Mobile trading platform
    7.6
  • Desktop trading platform
    6
  • Markets and products
    10
  • Research
    7
  • Customer service
    2
Brokerpoint review

Fees

Brokerpoint has low trading and non-trading fees, including no deposit or withdrawal fees. On the other hand, fees for futures and options trading are high.

Pros Cons
Low trading fees High futures fees
Low stock and ETF fees High options fees
No withdrawal fee
Brokerpoint fees snapshot
AssetsFee levelFee terms
US stockLow$0.01 per share for up to 2000 shares; $0.005 per share above that; min. $2
EURUSDLow0.8 pips * order volume
Mutual fundAverage$14.95 per transaction or 3% of trade value, whichever is lower
Inactivity feeLow$1 monthly inactivity fee, if you have assets on your account

How we ranked fees

We ranked Brokerpoint’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 Brokerpoint for each asset class. For example, in the case of stock investing the most important fees are commissions.

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

To have a clear overview of Brokerpoint, let’s start with the trading fees.

Brokerpoint trading fees

Brokerpoint trading fees are low. The fee structure is mixed, with Brokerpoint charging volume-tiered fees in most cases. 

Stock fees and ETF fees

Brokerpoint has generally low stock and ETF fees, which are mostly lower than at the selected competitors. 

Brokerpoint stock and ETF commission of a $2,000 trade
 BrokerpointCapTraderTradeStation
US stock $2.0 $2.0 $0.0
UK stock $2.3 $9.0
German stock $2.3 $4.0

Brokerpoint’s stock trading fee is volume-based: it is calculated either per share or as a percentage of the trade value, with a minimum amount. The trading fees for ETFs are the same as for stocks.

Brokerpoint stock fees
Market Commission Minimum
Germany 0.10% €2.29
USA Up to 2,000 shares: $0.01 per share From 2,001 shares: $0.005 per share $2
Austria 0.10% €2.29
Switzerland 0.10% CHF 2.29
UK 0.10% £2
France 0.10% €2.29
Italy 0.10% €2.29
Belgium 0.10% €2.29
Netherlands 0.10% €2.29
Norway 0.10% NOK 25
Sweden 0.10% SEK 25
Spain 0.10% €2.29
Mexico 0.10% MXN 300
Canada Up to 2,000 shares: CAD 0.02 per share From 2,001 shares: CAD 0.01 per share CAD 2
Australia 0.10% AUD 5
Hong Kong 0.10% 0.10%
China 0.10% 0.10%
Singapore 0.15% SGD 5 ($5)
Japan 0.15% JPY 500
Russia 0.25% RUB 900

If you prefer stock trading on margin, you should check Brokerpoint’s margin rates.

Trading on margin basically means that you borrow money from your broker and can purchase more shares than you could with just the available cash in your account. You have to pay interest on this borrowed money – the interest rate is called the margin rate. It can account for a significant portion of your trading costs.

Brokerpoint margin rates are low.

Brokerpoint annual margin rates
 BrokerpointCapTraderTradeStation
USD margin rate 5.3% 6.3% 11.5%
GBP margin rate 4.5% 5.5%
EUR margin rate 2.8% 3.8%

Forex fees

Brokerpoint forex fees are low.

To get a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Brokerpoint forex benchmark fee of a $20,000, 30:1 long position held for one week
 BrokerpointCapTraderTradeStation
EURUSD benchmark fee $13.9 $18.2
GBPUSD benchmark fee $9.9 $14.2
AUDUSD benchmark fee $7.6 $11.9
EURCHF benchmark fee $4.1 $8.4
EURGBP benchmark fee $11.8 $16.1

When you trade forex, Brokerpoint charges a volume-based commission. The commission is 0.8 pips times the order volume for every currency. 

Fund fees

Brokerpoint fund fees are average. 

We must note that Brokerpoint’s fund fee structure is not transparent, therefore the below are assumptions based on IB’s fund fees.

Brokerpoint commission for a $2,000 fund purchase
 BrokerpointCapTraderTradeStation
Mutual fund $15.0 $15.0 $15.0

Bond fees

Brokerpoint has generally low bond fees.

We must note that Brokerpoint’s bond fee structure is not transparent, therefore the below are assumptions based on IB’s bond fees.

Brokerpoint commission of a $10,000 government bond trade
 BrokerpointCapTraderTradeStation
US Treasury bond $5.0 $5.0 $20.0
EU government bond $10.0 $10.0

Options fees

Brokerpoint options fees are high.

Brokerpoint stock index options commission of 10 contracts
 BrokerpointCapTraderTradeStation
US stock index options $20.0 $35.0 $0.0
UK stock index options $33.9 $39.6
German stock index options $18.7 $19.8

You pay options fees depending on the number of contracts you trade, without a minimum or maximum charge in most cases. 

Brokerpoint options fees for stock index options
Market Options fee (per contract)
Germany €1.89
USA $2
Austria €2
Switzerland CHF 3
UK £3
France €2
Italy €2
Belgium €2
Netherlands €2
Norway NOK 15
Sweden 1.5% of the commercial value, at least SEK 30
Spain €2
Mexico n.a.
Canada CAD 2.99
Australia AUD 3.29
Hong Kong HKD 20
Singapore n.a.
Japan JPY 500
Russia n.a.
South Korea 0.4% of the commercial value, at least KRW 2,000

Futures fees

Brokerpoint futures fees are high.

Brokerpoint stock index futures commission of 10 contracts
 BrokerpointCapTraderTradeStation
US micro e-mini stock index futures $20.0 $35.0 $0.0
UK stock index futures $33.9 $39.6
German e-mini stock index futures $18.7 $19.8

Similarly to options, you pay a commission based on the number of contracts you trade.

Brokerpoint futures fees for stock index futures
MarketFutures fee (per contract)
Germany€1.89
USA$2
Austria€2
SwitzerlandCHF 3
UK£3
France€2
Italy€2
Belgium€2
Netherlands€2
NorwayNOK 15
Sweden1.5% of the commercial value, at least SEK 30
Spain€2
Mexicon.a.
CanadaCAD 2.99
AustraliaAUD 3.29
Hong KongHKD 20
Singapore$4
JapanJPY 700
Russian.a.
South KoreaKRW 7,000

CFD fees

Brokerpoint has average CFD trading fees.

To have a clear understanding of CFD fees we calculated a CFD benchmark fee for the selected products. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Brokerpoint CFD benchmark fees, for a $2,000 long position held for one week
 BrokerpointCapTraderTradeStation
S&P 500 index CFD fee $5.3 $5.3
Europe 50 index CFD fee $6.1 $6.1
Apple CFD fee $8.3 $6.3
Vodafone CFD fee $11.6 $11.6

We calculated with 20:1 leverage for stock index CFDs and 5:1 leverage for single stock CFDs.

Warrants and certificates fees

At Brokerpoint, you can also trade warrants and certificates.

Brokerpoint warrants & certificates commission
MarketCurrencyCommissionMinimum
GermanyEUR0.10%€2.29
FranceEUR0.10%€4
BelgiumEUR0.10%€4
NetherlandsEUR0.10%€4
AustraliaAUD0.10%AUD 5
Hong KongHKD0.10%HKD 20

Non-trading fees

Brokerpoint has average non-trading fees. There is no account or deposit fee. However, Brokerpoint charges you an inactivity fee if you have any asset in your account and you don’t execute a trade for a month. It’s a $1 monthly fee, which is considered average compared to other brokers. 

Brokerpoint non-trading fees
 BrokerpointCapTraderTradeStation
Account fee No No No
Inactivity fee Yes Yes Yes
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0
Brokerpoint review

Account opening

Brokerpoint’s account opening process is fully digital, without a required minimum deposit. However, the process is complicated and account verification is relatively slow.

Pros Cons
Fully digital Slow
No minimum deposit Not user-friendly

It is unclear from the website which countries’ clients can open an account at Brokerpoint, and we were unable to find out more information from the broker. However, since Brokerpoint is an introducing broker to IB and the account opening process is similar to IB’s, it is likely that the same terms apply: as IB is present on every continent, you can most likely open an account. At IB, only countries with highly unstable political or economic backgrounds are excluded, such as North Korea.

What is the minimum deposit at Brokerpoint?

The required Brokerpoint minimum deposit is $0

Account types

Brokerpoint offers many account types, which differ according to ownership and the services provided.

Account types based on ownership

Brokerpoint account types fall into two big groups based on account ownership:

  • accounts for individual traders and investors
  • accounts for institutions

As an individual trader or investor, you can choose from many different account types. A few of these, like the IRA account, are available only for US clients.

Brokerpoint account types
Account typeShort description
IndividualOwned and used by a single individual
JointOwned and used by two individuals
TrustHeld by a Trustee (separate legal entity) for your benefit
IRAIndividual retirement account (only available for US clients)
UGMA/UTMAFor clients who are minors (only available for US clients)
Friends and Family For a client group of up to 15 members
Family OfficeFor an individual who is a Family Office Manager
Small BusinessFor small corporations
AdvisorFor an individual who manages both client administration and the client’s money
Money ManagerFor an individual who is hired on behalf of another advisor

After you selected the type of ownership account, you can choose between a Cash, Portfolio Margin or Reg T Margin account.

How to open your account

The account opening process is fully digital but overly complicated. Following your online registration you have to wait for account verification, which takes more than 3 business days. It is slower than the usual account verification time for most brokers.

First, you have to go through a 5-step registration process, which takes roughly an hour. We experienced a few bugs and errors throughout the process, such as disappearing information and various error messages. It was a complicated process, with often confusing and unclear messages.

During the account opening process, you have to provide some personal information and there are also questions about your trading experience.

Brokerpoint review – Account opening

Brokerpoint review – Account opening

 

At the end, you have to verify your identity and residency by uploading the required documents:

  • Verification of identity: passport / national ID / driver’s license
  • Verification of residency: bank statement / utility bill / driver’s license / credit card statement / other document

This is a standard process called KYC (know-your-customer) in the financial world. These steps are required to make sure you are truly identifiable.

The account opening process is the following, step by step, including the types of information you have to provide:

1. Personal information

  • Address
  • Contact information
  • Tax residency
  • Identification
  • Employment 
  • Security questions

2. Regulatory information

  • Assets and income
  • Investment objectives
  • Investment experience
  • Trading countries
  • Self-certification of tax residences

3. General disclosures

  • General agreements and disclosures
  • Signature

4. Funding 

  • Transfer and transaction type
  • Making a cash deposit (optional) 

5. Application status

  • Upload the required documents 
  • Start trading within a few business days! 

Our best alternatives to Brokerpoint are:

The highest ranking competitors are:

  • CapTrader full review
  • TradeStation full review
  • Zacks Trade full review
  • Interactive Brokers full review
Brokerpoint review

Deposit and withdrawal

Both depositing and withdrawing funds is free at Brokerpoint, and the process is user-friendly. On the negative side, bank transfer is the only option available.

Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee Limited number of base currencies
User-friendly

Account base currencies

At Brokerpoint, you can choose from 3 base currencies. These are: EUR, USD, CHF.

This is not the most competitive selection on the market compared to the selected competitors. 

Base currencies at Brokerpoint vs similar brokers
 BrokerpointCapTraderTradeStation
Number of base currencies 3 9 9

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay 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.

Deposit fees and options

Brokerpoint deposits are free of charge. However, deposit options are limited, as only bank transfer is available: neither credit/debit cards nor electronic wallets can be used.

Brokerpoint deposit options
 BrokerpointCapTraderTradeStation
Bank transferYesYesYes
Credit/debit cardNoNoNo
Electronic walletsNoNoNo

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

Also, you can only deposit money from accounts that are in your name.

Brokerpoint review – Deposit and withdrawal – Deposit

Brokerpoint withdrawal fees and options

Brokerpoint charges no withdrawal fees. Similarly to deposits, you can only use bank transfer to withdraw funds.

Brokerpoint deposit options
 BrokerpointCapTraderTradeStation
Bank transferYesYesYes
Credit/debit cardNoNoNo
Electronic walletsNoNoNo
Withdrawal fee$0$0$0

How long does it take to withdraw money from Brokerpoint? We tested the bank transfer withdrawal and it took 2 business days.

You can only withdraw money to accounts in your name.

How do you withdraw money from Brokerpoint?

  • First, log in to your account and go to ‘Transfer & Pay’ and then select ‘Transfer funds’.
  • Select the account you want to use for the transaction.
  • At the top of the page, click on the ‘Withdraw Funds’ tab. 
  • Select the currency of your withdrawal, then the withdrawal method.
  • Provide the required information.
  • Submit your withdrawal request. 
  • You can see the status of your request in ‘View Transaction History’.
Brokerpoint review

Web trading platform

Brokerpoint’s WebTrader platform is user-friendly, has a clear fee report and is accessible via a safe two-step login process.

Pros Cons
User-friendly None
Clear fee report
Two-step (safer) login
Brokerpoint platforms to choose from</strong.
Trading platformScoreAvailable
Web
5.0
stars
Yes
Mobile
3.8
stars
Yes
Desktop
3.0
stars
Yes

The web trading platform is available in English, German, Spanish, French, Italian, Russian, Simplified Chinese, Japanese and Traditional Chinese.

Look and feel

The Brokerpoint web trading platform is user-friendly. The platform is customizable.

Brokerpoint review – Web trading platform

Login and security

Brokerpoint provides a two-step login, what is a good sign for safety.

Search functions

The search function is easy to use and works better than on the desktop platform.

All you have to do is start typing the name of the asset you’re looking for, and you will see a list of relevant exchanges and products. The search field can be found in the upper-right part of the screen. 

Brokerpoint review – Web trading platform – Search

Placing orders

There are many order types available in the WebTrader platform: Limit, Market, Stop, Stop Limit, Limit-on-Close, Market-on-Close, Mid price.

To get a better understanding of these terms, read our overview of order types.

There are also order time limits you can use: Day, Good-til-Canceled (GTC), At the Opening.

Brokerpoint review - Web trading platform - Order panel

Alerts and notifications

At Brokerpoint, you can set price alerts using the bell icon (🔔).

Portfolio and fee reports

Portfolio and fee reports are transparent. The portfolio tab gives a clear overview of your performance, including your historical profit/loss balance and the fees you paid.

Brokerpoint review

Mobile trading platform

Brokerpoint’s mobile trading platform has a safe two-step login, and comes with a good search function and multiple order types. However, beginners may find it too complex.

Pros Cons
Two-step (safer) login None
Good search function
Good variety of order types

The mobile trading platform is available in English, German, Spanish, French, Italian, Russian, Dutch, Turkish, Simplified Chinese, Traditional Chinese and Japanese.

Look and feel

The Brokerpoint mobile trading platform is OK.

Brokerpoint review – Mobile trading platform

Login and security

Brokerpoint provides a safe login for its mobile platform.

You can log in using biometric authentication, which is a convenient feature.

Search functions

The search functions are good.

Brokerpoint review – Mobile trading platform – Search

Placing orders

You can use the following order types: Limit, Market, Stop, Stop Limit, Market if Touched, Limit if Touched, Trail, Relative, Market on Close, Limit on Close, Market on Open, Limit on Open.

There are also order time limits you can use: Day, Good till Canceled, Outside Regular Trader Hours.

Brokerpoint review – Mobile trading platform – Order panel

Alerts and notifications

You can set price alerts using the bell icon (🔔).

Brokerpoint review

Desktop trading platform

Brokerpoint’s desktop platform offers great customizability and advanced order execution, but is not user-friendly and caters more to advanced traders.
Pros Cons
Clear fee report Not user-friendly
Good customizability (for charts, workspace) Poor search function
Good variety of order types

Brokerpoint’s desktop platform, Trader Workstation (TWS), is the same as Interactive Brokers’s. It is so advanced that even a separate review would not be able to cover all of its features. Nevertheless, we’ll try to provide you with a comprehensive summary of TWS.

The platform offers literally every feature you could desire. Whether you were dreaming of replicating your favorite ETF or trading with chatbots – on TWS, you can do both.

The desktop trading platform is available in multiple languages: English, German, French, Spanish, Italian, Russian, Simplified Chinese, Traditional Chinese and Japanese.

Look and feel

Trader Workstation is by far the most complex platform that we at BrokerChooser have ever reviewed. This platform is ideal for you if you consider yourself a professional user. If you are a beginner or someone who seeks long-term investments, though, you may have difficulty navigating all of TWS’s features.

Accordingly, the Brokerpoint desktop trading platform is not so user-friendly, although it is customizable.

Brokerpoint review – Desktop trading platform

Login and security

It has the same security features as the web trading platform. You can turn on two-step authentication, which makes the platform safer to use.

Search functions

Brokerpoint’s search functions are quite poor. This is the weakest part of TWS platform. Search results are not structured, and it is quite difficult to filter out the product you are looking for.

Brokerpoint review – Desktop trading platform – Search

Placing orders

Trading through TWS, Brokerpoint offers many different order types.

Order types at Brokerpoint
LimitMid PriceMarketMarket-to-Limit
StopStop-LimitTrailTrail-Limit
RelativeRetail Price ImprovementSnap MarketSnap To Midpoint
Snap to PrimaryMarket-on-CloseLimit-on-CloseIBALGO
Hedge
(with Forex, or Pair Stock)
   

There are also order time limits you can use:

  • Good ’til Canceled (GTC)
  • Good-Til-Date (GTD)
  • Market-on-open (MOO)
  • Limit-on-open (LOO)
  • Immediate-or-cancel (IOC)
  • Fill-or-Kill (FOK)
  • Day ‘Til Canceled (DTC)

Brokerpoint review – Desktop trading platform – Order panel

Alerts and notifications

Alerts and notifications can be set in the ‘Configuration panel.’ You can choose to receive email, text (SMS) or mobile pop-up notifications.

You can also set additional alerts, for example for price changes, daily profits or losses, executed trades, etc.

Portfolio and fee reports

Brokerpoint’s portfolio and fee reports are really transparent, providing a clear overview of your performance, including your historical profit/loss balance and the fees you paid.

Brokerpoint review

Markets and products

An extremely wide range of markets is accessible through Brokerpoint, and all product types except for crypto are available.

Brokerpoint asset classes
 BrokerpointCapTraderTradeStation
StocksYesYesYes
ETFsYesYesYes
ForexYesYesNNo
FundsYesYesYes
BondsYesYesYes
OptionsYesYesYes
FuturesYesYesYes
CFDsYesYesNo
CryptoYesYesYes

Brokerpoint has a great selection of products, with an exceptional range of ETFs and bonds. Brokerpoint also offers some more exotic assets, like warrants and structured products.

Brokerpoint provides access to roughly 150 exchanges worldwide, including through its alternative services such as Interactive Advisors. This is an asset management service that is a mix of robo-advisory and social trading.

Stocks and ETFs

Brokerpoint lets you access more stock markets than similar competitors. These include major markets such as the NASDAQ, the New York Stock Exchange (NYSE) and the London Stock Exchange (LSE), as well as minor ones such as the Warsaw Stock Exchange and Mexican markets. In addition to regular stocks, penny stocks are also available. 

Besides stocks, you can also trade with more than 13,000 ETFs at Brokerpoint. 

Brokerpoint stock and ETF selection
 BrokerpointCapTraderTradeStation
Stock markets (#) 78 78 5
ETFs (#) 13,000 13,000 2,300

Forex

Brokerpoint provides a vast selection of more than 100 currency pairs. 

Brokerpoint forex selection
 BrokerpointCapTraderTradeStation
Currency pairs (#) 105 105

Funds

Through Brokerpoint, you have access to more than 250 fund providers, including big market names like BlackRock and Vanguard.

Brokerpoint mutual fund selection
 BrokerpointCapTraderTradeStation
Fund providers (#) 260 260 55

Bonds

Brokerpoint gives you access to numerous bonds. Out of all government and corporate bonds available at Brokerpoint, 1.4 million are so-called municipal bonds: these are fixed income investments issued by local US governments, cities, states or counties, but they are tradable only for US residents. The table below does not include municipal bonds in the overall number of bonds.

Brokerpoint bond selection
 BrokerpointCapTraderTradeStation
Bonds (#) 60,000 60,000 630

Options

As with other product types, Brokerpoint offers an extremely wide range of options markets. You can access the biggest ones, like the Chicago Board Options Exchange (CBOE) or the CME Group, as well as smaller markets such as the Korea Stock Exchange (KSE) or the Mexican Derivatives Exchange (MEXDER).

Brokerpoint options selection
 BrokerpointCapTraderTradeStation
Options markets (#) 33 33 10

Futures

At Brokerpoint there are 32 futures markets available offering access to an extensive selection of futures products. Similarly to options, you will find both major and minor markets.

Brokerpoint futures selection
 BrokerpointCapTraderTradeStation
Futures markets (#) 32 32 11

CFDs

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60.0% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Compared to most other brokers, Brokerpoint offers an average range of CFDs in terms of both product width and depth, covering only stock and stock index CFDs.

Brokerpoint CFD selection
 BrokerpointCapTraderTradeStation
Stock index CFDs (#) 13 13
Stock CFDs (#) 7,100 7,100
ETF CFDs (#)
Commodity CFDs (#)
Bond CFDs (#)
Futures CFDs (#)
Brokerpoint review

Research

The quality of the research available at Brokerpoint is good and you can also choose from various third-party providers.

Pros Cons
Good interactive chart Not user-friendly
Trading ideas
Data on asset fundamentals

Recommendations

On the Brokerpoint platform, you can view recommendations provided by third parties. These research tools are mostly free, but some are available only for-pay.

Several prominent news sources, like Thomson Reuters, Morningstar and Dow Jones, are available for free.

In January 2020, Brokerpoint incorporated two new recommendation tools, called Validea and TheLeadingEDGE. These provide real-time analysis, in-depth reports and model portfolios for a monthly subscription. You can enable these features via your Client Portal: to do so, go to ‘Menu/Settings/User Settings’ and then ‘Research Subscriptions’.

Trading ideas

Brokerpoint provides trading ideas. The trading signals contain possible entry and exit points, which you can combine with your own risk and money management strategy.

Fundamental data

Brokerpoint provides a broad selection of fundamental data on all of its platforms. These include income statements for the past six years, a dividend calendar and peer group companies, among others.

 

 

Brokerpoint review – Research – Fundamental data

Charting

The charting features are almost endless at Brokerpoint. There are 120 technical indicators available; however, similar to the trading platforms, the charting tool is not very user-friendly.

Brokerpoint review – Research – Charting

Brokerpoint review – Research – Charting

 

Other special technical tools include:

  • Stock/ETF benchmarker: helps you to compare your stock or portfolio to a selected benchmark
  • Mutual fund and ETF replicator
  • Volatility lab
  • Option probability lab: a group of option analysis functions
  • VaR, Sharpe: portfolio performance analyzers

News feed

At Brokerpoint, you can access:

  • News
  • Daily summaries
  • Multiple economic calendars

 

Brokerpoint has its own news domain called ‘Traders’ Insight’. It also channels integrated third-party news and recommendations to the desktop platform.

Upon entering the platform, you can read daily summaries of the markets through ‘Daily Lineup’. This feature keeps you informed about the latest news and analyst recommendations. There is also an earnings calendar and an economic event calendar, which are helpful shortcuts to start off your day.

Brokerpoint review

Customer service

Brokerpoint’s customer service needs improvement. There is no live chat and they do not give useful answers on the phone. Furthermore, we did not receive answers to our emails.

Pros Cons
Phone support No live chat
Slow support
Irrelevant answers

You can contact Brokerpoint via:

  • phone
  • email

Brokerpoint’s customer service picks up the phone within a few minutes, and they even call you back if they didn’t answer on the first attempt. However, we didn’t get relevant answers to our questions. In addition, their email support seems non-existent, as we sent several emails (both in English and German) with basic questions and nobody answered for weeks. 

There is no live chat at Brokerpoint, and we also missed the 24/7 availability of its customer service.

Brokerpoint review – Customer Service

Brokerpoint review

Education

At Brokerpoint there are no proper learning tools, and the site has outdated information about their availability. Because of that, the broker is not a good option for beginners.

Pros Cons
None No demo account
No trading platform tutorial videos
No educational videos

Brokerpoint does not provide any tools for learning. Theoretically, you can open a demo account on its site, but after registering we got a message saying it’s no longer available.

Brokerpoint review

Safety

As an introducing broker of IB, Brokerpoint is covered by top-tier regulators, granting most clients strong protection. However, IB and Brokerpoint lack a banking background and Brokerpoint is not publicly listed, meaning less transparency.
Pros Cons
Majority of clients belong to a top-tier financial authority Does not hold a banking license
Negative balance protection Not listed on stock exchange
Financial information is not publicly available

Is Brokerpoint regulated?

Brokerpoint serves as an introducing broker to Interactive Brokers’ Irish entity, IBIE. This means that your cash and assets are held with IB, while IBIE specifically is regulated by the Central Bank of Ireland.

Is Brokerpoint 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

Interactive Brokers is the contracting partner that processes and transacts orders via the trading platform. This means the investor protection amount and the regulating authority are related to IBIE, the Ireland-based entity.

Brokerpoint investor protection
Country of clientsProtection amountRegulatorLegal entity
All clients€20,000Central Bank of IrelandInteractive Brokers Ireland Limited (IBIE), Kaiser Global Invest GmbH

Brokerpoint provides negative balance protection. If the balance on your account goes into negative, you will be protected.

Background

Brokerpoint was established in 2017. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises. 

The company is not listed on a stock exchange and does not release regular financial statements, meaning its operations are less transparent.

Brokerpoint review

Bottom line

Brokerpoint is a global stockbroker for investors and traders, and an introducing broker to Interactive Brokers. As its trading platform is quite complex, we recommend this broker mainly for advanced traders.

On the plus side, Brokerpoint has low trading and non-trading fees and offers a wide range of markets and products. The account opening process is fully digital and requires no minimum deposit. 

There are some drawbacks, though. Brokerpoint charges high fund, futures, and CFD trading fees. Moreover, the broker does not provide proper educational tools and its trading platforms are complicated.

If you have experience navigating complex platforms and enjoy low-cost trading, Brokerpoint could be a great fit for you.

Brokerpoint review

FAQ

We recommend Brokerpoint for investors and traders from europe interested in global markets.

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

Lower fees, lower costs?

We detailed this in our Brokerpoint fees article.

What about the minimum deposit?

Our ultimate guide to the Brokerpoint minimum deposit is updated regularly.

How to start your Brokerpoint account?

Look no further than our evaluation of the Brokerpoint account opening.

How’s their trading app?

Here’s our expert view after checking the Brokerpoint trading app.

Is the quality of customer service satisfactory?

All you need to know about the Brokerpoint customer service.

Legit or scam?

Is Brokerpoint 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 Brokerpoint is really free.

Is this broker good for beginners?

We checked it in Is Brokerpoint good for beginners.

Should you buy your silver bullets on Brokerpoint?

Research for silver bugs in the Silver buy on Brokerpoint guide

I want to trade options, are they available at Brokerpoint?

We explored the topic in Can you trade options on Brokerpoint?

What is the minimum account balance at Brokerpoint?

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

Looking for commission and fees data for Brokerpoint?

We collected them in Brokerpoint commission and fees.

How do you withdraw money from Brokerpoint?

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

Investors’ Marketplace 

Another new addition available from June 2020 is the Investors’ Marketplace. This is an overall networking tool, helping investors, brokers and hedge fund account holders, as well as others, to connect. The purpose of the connection can range from education to career development, advisory, administration and technology. 

Tax Optimizer, Shortable Instruments and alternative news sources

US residents can take advantage of IB’s Tax Optimizer, which lets clients choose their best tax method based on IRS reporting rules after trading. This includes maximizing long-term gains or minimizing long-term losses. 

The Shortable Instruments (SLB) Search tool lists the available shortable securities within the web platform and the borrowing volume that is provided for these securities. (SLB stands for Securities Lending/Borrowing.) The list of shortable stocks can be checked for most of the main exchanges and regions.

Interactive Brokers review – Research – Mutual Fund Search

Mutual Fund Search Tool

As of June 2020, Interactive Brokers has launched the Mutual Fund Search Tool on their website. This tool enables clients to browse and select international mutual funds by country, fund family and whether the fund charges extra commissions. With the ‘Fund Type’ filter, you can also search for funds based on their structure (e.g. only bond, only equity, or mixed investments).

Interactive Brokers review – Research – Economic calendar

The Economic Calendar informs you about upcoming events that will have an economic impact. This feature can be accessed separately any time from the menu, though the design could be better. If you are looking for an all-around economic calendar that includes upcoming national holidays, you can find it here on IB’s page.

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