Ninety Nine Review 2023

  • 7.8

Ninety Nine review summary

Ninety Nine is a comission-free online stockbroker regulated by the Spanish National Securities Market Commission, CNMV. Ninety Nine provides free stock trading on US markets – and does so via a simple and user-friendly trading platform. Customer service is great, giving fast and useful replies in both Spanish and English. It is a good choice for beginner investors. On the negative side, Ninety Nine’s product offer is limited to stocks and ADRs on the US market. The currency conversion fees are high. We also missed quality educational tools that could help clients get a better understanding of trading. Inconveniently, you can use only bank transfers to deposit or withdraw, as credit/debit cards are not accepted. BrokerChooser gave Ninety Nine a 3.9/5 rating based on analyzing 500+ criteria and testing via opening a live account.

Ninety Nine is a regulated broker, it is overseen by a top-tier financial regulator in Spain . Ninety Nine is also covered by investor protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.

Ninety Nine pros and cons

Pros Cons
Free stock trading Basic product portfolio
Easy-to-use trading platforms High currency conversion fees
Great customer service Limited educational tools
Only bank transfers accepted

Ninety Nine main highlights

🗺️ Country of regulation Spain
💰 Trading fees class Average
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1 day
💳 Deposit with bank card Not available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 1
🎮 Demo account provided No
🛍️ Products offered Stock
Our overall Interactive Brokers rating
  • 7.8

  • Fees
  • Account opening
  • Deposit and withdrawal
  • Mobile Trading platform
  • Markets and products
  • Research
  • Customer service
  • Education
Ninety Nine review


Ninety Nine offers free US stock trading and charges no inactivity fee, but you’ll face a 0.5% currency conversion charge as you trade USD assets but can hold cash only in EUR.

Pros Cons
Commission-free stocks Withdrawal fee
No inactivity fee Currency conversion fee
Free withdrawal €5 settlement cost on certain stocks
Ninety Nine fees snapshot
AssetsFee levelFee terms
US stockAverageCommission-free stock trading
EURUSDNot available
Mutual fundNot available
Inactivity feeLowNo inactivity fee

How we ranked fees

We ranked Ninety Nine’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 Ninety Nine. In the case of stock investing the most important fees are commissions.

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

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

Ninety Nine trading fees

Ninety Nine trading fees are low but currency conversion fees can be quite high.

Stock fees

Ninety Nine charges no stock commission in most cases. Stock trading is free of all traditional commissions, including execution, custody or corporate actions fees.

However, Ninety Nine does charge a currency exchange commission of 0.5% for each transaction, as the broker offers only EUR as a base currency but you can trade only US stocks, which must be paid in USD. 

In addition, there is a settlement cost of €5 per transaction on certain stocks, an item that Ninety Nine says is passed on by its custodian bank. Ninety Nine says that such charges may be lowered or even fall to zero if trading volume carried out by Ninety Nine clients in that particular stock increases.

Ninety Nine stock and ETF commission for a $2,000 trade
Ninety Nine DEGIRO eToro
US stock $0.0 $1.0 $0.0
UK stock $3.1 $0.0
German stock $4.9 $0.0

Non-trading fees

Ninety Nine has generally low non-trading fees that are similar to those of its closest competitors.

Deposits and withdrawals are free, although the broker charges €5 on instant deposits. There are also no inactivity or account maintenance fees, as Ninety Nine scrapped a previous flat monthly fee when introducing a new fee structure at the start of 2021.

Ninety Nine non-trading fees
Ninety Nine DEGIRO eToro
Account fee No No No
Inactivity fee No No Yes
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0
Ninety Nine review

Account opening

Ninety Nine has an easy and fully digital account opening process, with no minimum deposit. However, only Spanish tax residents with a Spanish mobile number can open an account.

Pros Cons
Fully digital Only Spanish tax residents with a Spanish mobile number can open an account
No minimum deposit

Ninety Nine only accepts Spanish residents.

What is the minimum deposit at Ninety Nine?

At Ninety Nine, there is no minimum deposit. This is great for those looking to invest small amounts only.

Account types

Ninety Nine offers only one account type for individual investors. Corporate or joint accounts are not available.

How to open your account

The account opening process is fully online and straightforward.

If you want to open an account at Ninety Nine, you have to be

  • a Spanish tax resident with a Spanish identity card, the so-called DNI (Documento nacional de identidad)
  • or a foreigner from an EU country legally resident in Spain with a Foreign Identification Number called NIE (Numero de identificacion de extranjero).

You also need a Spanish phone number starting with the country code +34. So if you have a DNI or NIE and a Spanish phone, you can download the Ninety Nine App on your mobile phone. If you enter your phone number on the website, you will get a link to the app in an SMS. The app is available in both Apple Store and Google Play.

The steps to open your Ninety Nine account:

  • Enter your NIE number
  • Indicate your nationality
  • Upload a copy of your passport or an equivalent identity document of your country
  • Verify your identity by video (using face recognition)
  • Fill in your personal data such as your address or employment status

Clients from the following countries who have an NIE number are now accepted to invest at Ninety Nine:

  • Germany
  • Austria
  • Belgium
  • Bulgaria
  • Cyprus
  • Croatia
  • Denmark
  • Slovakia
  • Slovenia
  • Estonia
  • Finland
  • France
  • Greece
  • Hungary
  • Ireland
  • Italy
  • Latvia
  • Lithuania
  • Luxembourg
  • Malta
  • Netherlands
  • Poland
  • Portugal
  • Czech Republic
  • Romania
  • Sweden

Ninety Nine review – Account opening

Our best alternatives to Ninety Nine are:

The highest ranking competitors are:

  1. DEGIRO full review
  2. eToro full review
  3. Trading 212 full review
Ninety Nine review

Deposit and withdrawal

Withdrawal at Ninety Nine is free, as are most deposits. However, you can use only bank transfer as credit/debit cards are not accepted; plus, you can hold your cash only in EUR.

Pros Cons
Free withdrawal Credit/Debit card not available
Non-instant deposits are free Only one account base currency

Account base currencies

At Ninety Nine, the only available base currency is EUR.

Base currencies at Ninety Nine vs similar brokers
Ninety Nine DEGIRO eToro
Number of base currencies 1 9 1

If you have a personal bank account in a currency other than EUR, then you will face 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

Ninety Nine charges no deposit fees for regular deposits. If you want to use instant deposit, though, it will come with a €5 fee.

You can use only bank transfer for your transactions. Credit/Debit cards, transfers from Revolut/Wise or electronic wallets are not accepted.

Ninety Nine deposit options
Ninety Nine DEGIRO eToro
Bank transfer Yes Yes Yes
Credit/debit card No No Yes
Electronic wallets No No Yes

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

You can only deposit money from accounts that are in your name.

Ninety Nine review – Deposit and withdrawal – Deposit

Ninety Nine withdrawal fees and options

There is no fee for withdrawals at Ninety Nine. Similarly to deposits, you can only use bank transfer.

Ninety Nine withdrawal fees and options
Ninety Nine DEGIRO eToro
Bank transfer Yes Yes Yes
Credit/debit card No No Yes
Electronic wallets No No Yes
Withdrawal fee $0 $0 $5

You can only withdraw money to accounts that are in your name.

How do you withdraw money from Ninety Nine?

Just follow the steps below:

  • Go to ‘Account’
  • Click ‘Retirar’ (withdraw)
  • Set the amount in euros in the ‘Retirar dinero’ (withdraw money) menu
  • Click “Revisar”
  • Your money will be transferred to the account from where you made your deposits
Ninety Nine review

Web trading platform

Ninety Nine provides only a mobile trading platform; no web or desktop trading platforms are available.

Ninety Nine platforms to choose from
Trading platform Score Available
Web No
Mobile 4.0 Yes
Desktop No
Ninety Nine review

Mobile trading platform

Ninety Nine’s mobile app is easy to use and has a clean design. However, it is only in Spanish and lacks key features like price alerts or various order types. At the time of our review, the app was available only for Spanish tax residents.

Pros Cons
User-friendly Limited order types
Two-step (safer) login No price alerts
Clean design No Touch/Face ID login

Ninety Nine has its own mobile platform, available for both Android and iOS. The mobile trading platform is available only in Spanish.

Look and feel

The Ninety Nine mobile trading platform is simple and user-friendly and has a neat design.

Ninety Nine review – Mobile trading platform

Login and security

Ninety Nine provides a safe two-step login (two-factor authentication) for its mobile platform.

You can’t log in using biometric authentication, though, a feature that would make the login process more convenient.

Search functions

The search functions work well. It is easy to find individual stocks both by name and by ticker.

Ninety Nine review – Mobile trading platform – Search

Placing orders

Order types are limited to market orders at the moment. This means that limit or stop orders are not available.

Ninety Nine review – Mobile trading platform – Order panel

Alerts and notifications

Unfortunately, you can’t set alerts and notifications on the Ninety Nine mobile platform.

Ninety Nine review

Desktop trading platform

Ninety Nine provides only a mobile trading platform; no web or desktop trading platforms are available.

Ninety Nine review

Markets and products

Ninety Nine offers only US stocks and US-listed ADRs. You can’t trade foreign equities and other popular asset classes like ETFs, mutual funds, bonds, cryptos or options.

Ninety Nine provides only US stocks and ADRs.This selection falls behind competing brokers, as brokers such as DEGIRO or eToro offer a lot more stock markets and products to trade.

Ninety Nine asset classes
Ninety Nine DEGIRO eToro
Stocks Yes Yes Yes
ETFs No Yes Yes
Forex No Yes No
Funds No Yes No
Bonds No Yes No
Options No Yes No
Futures No Yes No
CFDs No No Yes
Crypto No No Yes

Stocks and ETFs

Ninety Nine focuses on the US market. You can trade around 1,800 stocks and ADRs. ETFs are not yet available, and you also cannot buy fractional shares.

Ninety Nine stock and ETF selection
Ninety Nine DEGIRO eToro
Stock markets (#) 2 31 17
ETFs (#) 5,400 145
Ninety Nine review


Ninety Nine offers live market data, along with some basic company fundamentals and ratios. On the negative side, charting is limited and analytic tools are either basic or missing.

Pros Cons
Data on asset fundamentals Limited interactive charting
User-friendly No trading ideas
No/limited set of analytic tools

You can find research tools in the mobile app and on Ninety Nine’s website.

Trading ideas

Ninety Nine does not provide trading ideas. However, it does offer some commentary, in the form of a blog (in Spanish) on its website. This is divided into six categories: financial culture, investments, tricks and tips, news, concepts and opinions. Ninety Nine also displays collections of companies in the same sector, like for example “Warren Buffet’s favorites”, banks, real estate or cryptocurrencies; helping to orient those who are looking for stocks in a particular sector.

Fundamental data

Ninety Nine offers some basic fundamental data, like gross margin or EBITDA.

Ninety Nine review – Research – Fundamental data


Ninety Nine has basic charting tools. There are no technical indicators, and editing tools are also missing.

You can only use a basic chart and view limited key information, such as changes in the stock price and the trading range during a given period.

Ninety Nine review – Research – Charting

News feed

Ninety Nine offers only limited news services. If you click on an asset, it will list some news items related to that asset.

Ninety Nine review

Customer service

Ninety Nine’s customer service is great; if you have any questions, you’ll be in good hands. You can use email or chat, but there’s no phone support and we missed 24/7 availability.

Pros Cons
Live chat No phone support
Fast response time No 24/7 support
Relevant answers

You can contact Ninety Nine via:

  • live chat
  • email

Ninety Nine has a fast live chat. We were satisfied with the quality of the answers.

In email, we got quick and useful replies not only in Spanish, but in English, too.

On the negative side, we missed phone support and 24/7 availability.

Ninety Nine review – Customer service

Ninety Nine review


Ninety Nine offers a limited set of educational texts. Beyond that, there are no educational or tutorial videos, and you can’t open a demo account.

Pros Cons
Easy to understand No demo account
No trading platform tutorial videos
No educational videos

At Ninety Nine, there is a selection of easy-to-understand articles under the ‘Blog’ section of the webpage about investing and financial culture, as well as news about the company’s services.

We missed other educational tools, like webinars or videos.

Ninety Nine review – Education

Ninety Nine review


Ninety Nine is overseen by top-tier Spanish regulators and provides a high level of investor protection. However, it isn’t listed on a stock exchange and doesn’t hold a banking license.

Pros Cons
Majority of clients belong to a top-tier financial authority Does not hold a banking license
High level of investor protection Not listed on stock exchange

Is Ninety Nine regulated?

Yes, it is regulated by the National Securities Market Commission (CNMV), the body responsible for the supervision of Spanish securities markets.

It is also registered with the US Treasury (IRS) as a Qualified Intermediary and adheres to the Foreign Accounts Tax Compliance Act (FATCA). In addition, Ninety Nine is a member of Spain’s Investment Guarantee Fund (FOGAIN) which insures client accounts up to €100,000.

Is Ninety Nine 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

All customers are served by Ninety Nine Financial Markets, which is regulated by the National Securities Market Commission (CNMV). Customer assets and cash are protected up to €100,000 per account.


Ninety Nine is a relatively young company, established in 2019. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Ninety Nine review

Bottom line

Ninety Nine is a Spanish stockbroker regulated by the top-tier CNMV.

On the plus side, Ninety Nine has a highly competitive fee structure. There is no commission, deposit fee, withdrawal fee or inactivity fee, though you will face a 0.5% currency conversion charge. The mobile app, while having only limited features, is exceptionally user-friendly, as is Ninety Nine’s quick and helpful customer support team.

There are also some drawbacks, though. The range of products is rather limited as customers have access solely to US stocks. In addition, there is only one base currency, the euro, so the currency conversion fees you have to pay can be quite highResearch tools are basic and there aren’t too many educational materials, though the ones available are sometimes high quality. Lastly, you can use only bank transfers to deposit or withdraw.

Ninety Nine is ideal for Spain-based investors looking for an easy-to-use platform to trade US stocks.

Ninety Nine review


We recommend Ninety Nine for beginners and investors looking for free us stock trading and a simple, easy-to-use mobile trading platform.

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

Lower fees, lower costs?

We detailed this in our Ninety Nine fees article.

What about the minimum deposit?

Our ultimate guide to the Ninety Nine minimum deposit is updated regularly.

How to start your Ninety Nine account?

Look no further than our evaluation of the Ninety Nine account opening.

How’s their trading app?

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

Is the quality of customer service satisfactory?

All you need to know about the Ninety Nine customer service.

Legit or scam?

Is Ninety Nine 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 Ninety Nine is really free.

Is this broker good for beginners?

We checked it in Is Ninety Nine good for beginners.

Should you buy your silver bullets on Ninety Nine?

Research for silver bugs in the Silver buy on Ninety Nine guide

What is the minimum account balance at Ninety Nine?

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

How do you withdraw money from Ninety Nine?

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

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