Do you want to know if the Bankinter is a good broker?
I am going to explain the characteristics of this well-known broker and also at the end I will give you my opinion.
The Bankinter broker is one of the classics in the Spanish stock market.
As is logical, this broker is registered and regulated in the CNMV .
Belonging to a banking group as important as Bankinter, it is one of the safest brokers on the Spanish national scene.
We are talking about a broker that is listed on the IBEX 35 , being one of the 35 largest companies in the Spanish market.
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So there is not much to explain about who Bankinter is or if he is a legit broker or not. The question is obvious.
Bankinter Broker online
The Bankinter broker is one of the leading brokers in the online sector in Spain.
One of the advantages that it has is that many of the clients capture them from its huge portfolio of deposit and payroll clients in the country, who trust this broker without having to withdraw their money to other sites.
The broker specializes in the three main categories of investment:
- Long-term investment through stocks and ETFs
- Medium-term negotiation with credit operations
- Short-term derivatives trading with your Broker Plus platform
Open account with the Broker Bankinter
An important detail to keep in mind is that to open an account with the Bankinter broker you must become a customer of the bank and open a Spanish bank account. This makes the broker only available to citizens of this country.
Account opening requires verification of personal data and signing of documents.
We are not in the typical Forex or cryptocurrency broker in which we can open an account in a few minutes.
In the case of Bankinter you have to go through a process and wait to be approved after sending the duly signed contract.
As I said before, it is a broker that makes it very easy for the bank’s clients. Being one of the largest banks in the country, it has a very high potential clientele with more than 600,000 potential clients.
One of the advantages of opening an account with this broker is that it usually has a bonus of up to 500 euros of free commissions for 3 months. It also offers three free months of direct access in the Spanish, German and United States markets.
Another bonus is the transfer of securities from another broker, 0.10% of the portfolio, with a maximum of 600 euros.
Bankinter has three main platforms plus a mobile application for online trading.
The platforms are as follows:
|Bankinter broker platforms||Online Broker||Graphic Broker||Broker Plus|
|Stocks, ETFs and derivatives||Yes||Yes||Yes|
|Forex and Fixed Income||Yes||No||No|
|Indicators technical analysis||No||Yes||Yes|
|Real time||40 EUR or 5 operations per month||Yes||Yes|
|Platform cost||Free||Free||Free from 75 operations per month|
Bankinter’s main platform is the Broker Plus, which is the one designed for short and medium term trading.
The Graphic Broker is less powerful but has the necessary functionalities to perform efficient short-term trading.
The Online Broker is designed more for long-term trading. In other words, it is the recommended platform for long-term investors.
The important concept of “Agile Operation”, which means that with it we will not be able to operate directly and we will have to confirm each operation with a personal coordinate card that we will have in our physical power.
The other two platforms do not have this coordinate card limitation and are therefore better for short-term trading.
Broker Plus Bankinter
The Bankinter Plus service is aimed at a more professional client or rather dedicated to short and medium term trading, with a series of characteristics that far exceed the standard service.
This would become the service for the most active and demanding clients in the markets.
With this service, it will be possible to track all operations and investor inquiries from the same workspace, with a large number of configurations and statistical and graphic analysis services.
With Broker Plus, the client will have:
- Better response times in both trading and analysis.
- Better usability of the different options
- Greater number and quality of technical indicators
- More agility and ease when negotiating
Bankinter Mobile Broker
Like any modern broker worth its salt, Bankinter has launched a mobile application to be able to use its services with the greatest possible functionality, in such a way that we can do practically everything without the need for a desktop or laptop computer.
This is something that not all Spanish bank brokers can boast of.
Among the most outstanding functions of this service we have:
- The possibility of consulting prices live.
- Trade in available markets.
- Consultation of accounts and positions.
- Monitoring of personal securities and investment portfolios.
- Also, it has stock charts.
Bankinter broker markets
This broker offers trading of stocks, ETFs, investment funds, warrants, turbos, futures, currencies and fixed income.
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As expected, Bankinter is a very strong broker in the Spanish stock market, of which it offers almost all of its shares, ETFs and funds.
It also offers access to the main Stock Exchanges of the United States, Germany, France or England.
As for the products derived from the shares, this broker offers a huge number of warrants and associated products such as: Bonus, Discount, InLine, Multi, Stay or Turbos.
These products are complex variations of warrants and other stock synthetics that are quite popular in professional stock markets.
As for Fixed Income, the broker offers us access to the emissions of most entities of the Spanish Public Administrations, from the State to the Autonomous Communities.
It also offers access to foreign Public Debt , mortgage bonds, senior debt and subordinated debt.
Bankinter Forex Broker
This is one of the few Spanish banks that offer Forex or currency trading service.
It is like Over The Counter market and 15 currencies of the main ones of the market are traded that in intraday can be traded with a leverage of a maximum of 30: 1.
So those who want to trade in Forex with the maximum guarantees of security provided by a bank can choose Bankinter and rest easy.
Broker Bankinter commissions
We are going to see the main rates of the Bankinter Broker , without a doubt one of the main criteria when choosing a broker or another.
|Commissions Euros||Spanish stock market|
|Up to 2,000||3.95|
|From 2,000 to 60,000||8|
|More than 60,000||0.07% (max 200)|
|Commissions Euros||International Stock Exchange|
|Up to 40,000||twenty|
|More than 40,000||0.20% (minimum 20)|
To this we will have to add the canon expenses of the Spanish stock market .
On international exchanges the commission will be 20 euros for most world markets, with 0.19% or 0.20 of the nominal amount for cases of high amounts.
The national custody commission will be 0.04% quarterly with a minimum of 6 euros.
The international custody commission will be 0.05 quarterly with a minimum of 6 euros.
There will be a commission for the payment of coupons and dividends of 0.25% in Spanish companies (minimum of 1.20 euros) and 0.30% in non-resident companies (minimum of 1.20 euros).
In addition, it will be necessary to add 0.42 euros of mail expenses plus VAT.
Credit operation at Bankinter
Stock trading may be carried out on credit with a 25% margin.
However, credit operations at Bankinter will entail higher than normal commissions.
The highest values on the market will have a commission of 0.12% or 12 euros minimum. In orders by phone it will be 0.37% or 37 euros.
For the rest of the actions, the cost is 0.24% online, with a minimum of 12 euros and 0.37 by phone.
In international markets, the commission will be 0.15% up to 50,000 euros (minimum of 30 euros). Same for phone orders up to that amount.
The interest rate of the loan to operate will be Euribor plus 6% per month .
The custody fee in this case will be 0.04% quarterly with a minimum of 4 euros for the national stock market, and 0.05% quarterly with a minimum of four euros for the international one.
ETFs will have basically the same commission as stocks.
Rates on futures and warrants
In warrants , the commission is 4.50 euros up to 3,000 and 9 for higher amounts . It will be 12 euros if it is by phone. To this we must add the costs of brokerage and mail.
In futures we will have the following commissions in euros:
|10 year Bond||9.50|
In addition, public or private Fixed Income can be acquired both nationally and internationally. The national public is exempt from expenses but the international will have 0.25% custody each quarter.
Broker Bankinter reviews
Before giving my opinion on the broker, I am going to comment a little on the opinions on this broker.
This is one of the brokers with the largest number of accounts in Spain and therefore we should surely see many opinions about it.
However, there are not as many opinions as we might expect.
This is a very good sign.
It means that the broker does not usually present problems, which is easily understandable considering its profile.
Being before one of the safest and most reliable brokers in Spain, we can be sure that we will not find problems with money withdrawals or scams of any kind.
The typical theme of opinions is on commissions , on whether they are more expensive than others and others.
It is normal.
Investors are always looking for the cheapest brokers.
It is clear that Bankinter is a broker aimed at Spanish middle and upper class clients, who rather look for long-term investment or seek a safe operation in the short or medium term.
Few clients are going to find a group of young people looking for more brokers of the type with great leverage and facilities for day trading.
One of the details that they comment on some Rankia forum is the fact that if you operate with securities from the United States, Bankinter applies a fairly high percentage regarding the currency exchange rate. In the event that the operation is going to be done frequently with the United States market, it is recommended that a dollar account be opened. For European markets this problem does not occur.
Another important topic in terms of the opinions people seek is about investment funds . In this case, say that Bankinter has a very large offer, as expected. In fact it is one of the most recommended Spanish brokers / banks for this type of product.
Otherwise, little to say in this section.
We are facing a broker of an institutional nature and a totally serious profile.
That, however, does not make it the most suitable broker for short-term trading. Obviously if we want cheaper brokers we will have to look for more specialized entities.
You can see my comparison of Bankinter with ING by clicking on the link.
Bankinter Broker’s Reviews
This is one of the brokers that I have used for long term investment, so I know it well.
This is undoubtedly one of the main national brokers in Spain and one of the best of its banks, being cheaper than most of the country’s bank brokers.
If we compare it with the rest of specialized brokers in Spain, it has slightly higher commissions than many of its competitors. Although in some ways this is the one with the best, especially compared to the vast majority of bank brokers.
For example, to operate in large quantities of between 50 and 60,000 euros, it is possibly one of the cheapest brokers on the national scene. The latter makes it especially suitable for large clients.
Although I have to comment on one detail : over the years they have lowered the band of the commission of 8 euros. Before it was 2,000 to 90,000 euros and now it is up to 60,000. This is a step back, without a doubt. I hope they can change this in the future and improve commissions.
On the other hand, lately it has included an option to operate somewhat cheaper for accounts with a smaller size, costing € 3.95 for operations on the Spanish stock market, which is not bad.
While custody fees seem high, they are not so high, being in an acceptable range.
The supply of instruments is quite good, having practically all world markets.
To highlight its wide range of shares and ETFs.
A small problem with the broker is its monthly fees with the professional platform, which seems to us somewhat high for someone who does not operate frequently, although it is true that someone who does not can use the online platform of the broker, the which is valid for long-term investment.
As for Forex, I think there are better options on the market.
For the rest, it is one of the most solid brokers on the Spanish stock market scene, without a doubt.
For more information, visit the website .