The corporate entity behind the brand (the products are being offered under the Binck and Alex brands) is BinckBank N.V. The company is listed on Euronext Amsterdam, as well as in the Amsterdam Smallcap Index. As already mentioned, the services offered by the operation, cover a wide range of needs. Trading and Investing is just the top of the iceberg in this regard.
Advertised as an “online bank for investors and savers”, Binckbank is certainly not your typical stock broker. It is a well-regulated and well-established online bank, which peddles an interesting palette of services in several European countries.
Safe and well-regulated (licensed by the Netherland’s AFM)
Good market coverage
8.9 out of 10
Trading fees and Costs
The rates are communicated to you very clearly and honestly, you know where you stand from the start and there are no unpleasant surprises afterwards.
When BinckBank started, it turned the world of online investing upside down and it was sometimes up to 90% cheaper than a transaction via Rabobank. And despite the fact that the major banks have also become a lot cheaper in recent years, BinckBank is still cheaper in its service and transactions than the major banks.
This is 0.00%. Unlike many other Dutch banks, BinckBank does not charge a custody fee for the assets with which you do not invest.
If you really want to get the most out of it and pay almost nothing for the transaction you do, there are other parties that offer it even cheaper.
BinckBank works with a very basic trading platform, which means that those used to automated trading, scalping, hedging, mobile alerts, trailing stops and other perks of this kind, won’t really find it attractive.
While the company has indeed put out mobile apps too, these seem to suffer from the same shortcomings as the main platform. Some users have complained about crashing and about the overall simplicity of the software or even plainness if you wish, which looks like it has quite a bit of evolving to do. Some people seem to love it nonetheless though.
The Binkbank platform has been awarded several times as the most user-friendly platform in the Netherlands. By making the platform intuitive and not sending people a 1,000-page workbook, Binkback has ensured that you will master the functions very quickly.
When trading stocks, the speed of order processing can be critical. Binkback has set up its systems in such a way that there is only a minimal delay between the order and the execution of the purchase or sale of shares or options.
Safety And Service
By every measure, BinckBank (and its sibling-brand: Alex) are extremely safe destinations. One has to keep in mind though that trading is still an inherently risky activity in general.
Binkbank has a very good service, which is why they win the prize for best broker almost every year when it comes to service. Certainly for a novice investor this can be of decisive importance if you have questions.
Binckbank has also built up enormous know-how that it shares with its customers. This knowledge center is accessible to all BinckBank customers.