Self Bank Review


Are you interested in opening an account with the Self Bank broker?

Before you should investigate what services and advantages this broker can give you, one of the most popular in the sector.

We are talking, no less, than a broker with origins in the year 2000, hand in hand, no less than the Rothschild Group and Salomon Oppenheimer.

At first it was called Self Trade but later it was renamed Self Bank.

After passing through the hands of Boursorama, Societé Generale and Caixabank ended up being bought by the American Warburg Pincus fund and by Javier Marín Romano.

As we see, it has changed hands on several occasions, but do not be surprised by this, which is very typical in the world of brokers.

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In fact, it is a good sign since a broker always performs better when it operates as an independent company, than when it does it within another group with other interests, as was the case with Caixabank or Boursorama.

What is Self Bank? Is it a secure company?


But Self Bank is not only a stock broker, but also a credit institution that offers banking services and, therefore, is subject to the supervision of the Bank of Spain in which it is registered under number 1,490.

The company’s office is on Gran Vía, 30; Madrid (28013).

Being an entity supervised by the Bank of Spain, Self Bank is covered by the Deposit Guarantee Fund that covers up to 100,000 euros per customer.

Seeing this we can be sure that it is a safe broker; one broker that is a bank at a time, which guarantees much stricter regulation by the authorities.

One of the advantages of Self Bank is that in addition to the brokerage account you can open deposits, savings and payroll accounts and get debit and credit cards.

How is customer service?

Well, by phone directly on the numbers: 902 888 888 and 914 890 888, from 8 in the morning until 10 at night (local time).

There is also the option to communicate by form.

You can also contact by email at

And we can even visit the offices from 10 to 7 in the afternoon.

How to open an account?

The first thing to know is that it is a Spanish broker that only provides services to clients from that country.

Being a digital bank, the entire opening process will be done through the computer without the need to be present in the offices.

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The opening process is very simple and can be done in two ways :

Self Now

In the ordinary first we fill in our data and request the account.

Then they will send us an email with some documents that we will have to download and sign, which you will have to send by ordinary mail.

Then we will have to identify ourselves as owners of the bank, which Self Bank will take care of once we have provided the data.

All this should not take much more than a week to have the account open.

In the Self Now mode, we will identify ourselves with a webcam with which we will check against our DNI, which we will have to show.

This process could take a few minutes or someday depending on the case. Once fully verified you will have your electronic signature.

Later the contract is sent to the address, in addition to the key card to operate.

Broker Self Bank

Self Bank offers a very varied range of products and services.

The main products to invest are: stocks, ETFs, investment funds, listed, CFDs and currencies.

Self Bank platforms

Self Bank offers three trading platforms.

The Trading Center platform is used for the official stock markets and with it we can trade stocks, ETFs, investment funds or warrants.

It is used for the different types of broker account (Cash, Quintuplica, Tentuplica).

With it you can configure lists and quickly access the trading of your favorite stocks and values.

The second platform is ProReal Time , one of the classics on the market.

It allows you to trade stocks and ETFs.

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The depth of market and real time we will have to activate on our own.

Being a Premium platform it costs 25 euros + VAT, unless:

Trade at least 20 times a month on the Stock account
15 times a month on credit accounts
Trade a monthly volume of 100,000 euros in credit accounts

In these three cases the use would be free.

In addition, you can use it for 15 days for free.


The third platform is CFDs and currencies (from Saxo Bank) .

As the name indicates, it is specialized in these two markets, which we can only negotiate with it and not with the previous ones.

CFDs include on: stocks, indices, ETFs, commodities and Forex.

One of the advantages of this platform is that it allows the opening of a demo account , that is, practical and totally free.

This simulated account is € 100,000.

Really, I recommend that you use this demo before opening an account with this or any broker. It is worth not only to see how the platform works but to practice some trading.

Another advantage of this platform is that we can use it on an iPhone, Android or iPad mobile.

Cash account without commissions

With this account you will be able to operate the main actions of the American and European markets, as well as ETFs, Warrants or any other listed product.

As we saw, this account can be operated from any of the platforms, although if we are going to operate little we may not be interested in ProReal Time, given its monthly fee. Everything will depend on the type of operation that we are going to do and our needs.

One of the advantages of this account is that it has no commissions for the following concepts :

€ 0 in payment of dividends, amortizations or extensions
€ 0 commission for opening, maintenance and cancellation
€ 0 custody fee if more than two transactions are made per month in the same market, or if the service “rent your shares” is used

This last service, the « Rent your shares «, allows us to rent our securities to other operators who want to trade on the short side of the market. Since we are lending capital, we will receive an interest rate, which can go up to 5% APR per year. This option may be interesting for those who are not going to trade in the short term.

In this case there is no custody fee if we pay a minimum of 5,000 euros per share.

It is undoubtedly a very interesting service because it not only allows us to obtain a return on our shares if they rise, but an annual percentage that bearish speculators will be paying us.

As disadvantages you will not be able to sell the shares while they are on loan and neither can it be guaranteed that they will be rented all the time but when the bearish operator has need.

As an added bonus, you will continue to receive dividends.

Quintuple and Tentuple Credit Bag

This is one of the star accounts of this broker.

Yes, as you can deduce by the title of the accounts, these are credit accounts that allow us to multiply the purchasing power of our account by up to 5 or 10.

In this case we are dealing with very complex and risky products.

This is only recommended for operators with a lot of experience and knowledge of the markets.

Being able to multiply a share operation by 10 is a very large leverage power, even greater than can be achieved today with the CFDs of those assets, which only allow up to 5. Curious this data, that a stock broker on credit, it can offer more leverage than the same CFD product. Something similar happens in futures , an asset that, by the way, Self Bank does not offer and that it did offer before; but this is another matter.

Needless to say, as the name also indicates, we will have to pay an annual interest to be able to carry out said leverage. The higher the leverage, the more we will end up paying. It is advisable to consult how this interest rate is before undertaking serious operations.

Self Bank Investment Funds and ETFs

Self Bank is one of the most important Spanish brokers in the investment fund scene, of which it offers more than 3,000.

However, it does not have its own funds, which also guarantees a partiality, since it has no interest in selling the products themselves, which could well be of dubious quality.

On the same page of Self bank we have a great search engine where you can find the best funds depending on the risk or category.

As for ETFs, we can access the main ones in world markets.

The operation in this case will be like that of the shares, and in some of them we can even use the Quintuplica and Tentuplica accounts.

Quoted Products

This category is the well-known category that includes listed stocks such as Warrants and Turbos, but also with new products such as Multi, Inline, Bonus and Certificates.

The negotiated warrants belong to Societé Generale. In case you do not know, warrants are instruments similar to financial options with the difference that with them we can only buy these contracts, never issue them.

The multi- or are listed products that allow use leverage between 3 and 10: 1 for products such as IBEX 35, EuroStoxx 50 or DAX30.

The inline are a kind of combination of financial options in which the benefit is obtained if the market remains within a trading range or.

If you want more information about these products, find out in detail on the dedicated page on the broker’s website.

Like credit accounts, we are dealing with very dangerous financial products that should not be used by investors without experience and knowledge.

CFDs and Forex

The service of these assets is as an introductory broker of Saxo Bank , one of the giants of the sector in the world.

In this case, these are Over The Counter products, that is, offered by the broker market maker , in this case Saxo Bank.

With them we will be able to negotiate with leverage in a simple and powerful way the vast majority of world markets, such as stocks, indices, raw materials or currencies.

Like leveraged products, they are considered very dangerous and European ESMA regulations require brokers to warn their clients before opening accounts on these products.

Self Bank Commissions

We are going to see the main commissions of this broker in the Spanish Stock Market

Volume Rates (euros)
Up to 1,500 3.95
From 1,500 to 6,000 6.95
From 6,000 to 60,000 8.95
From 60,000 0.07%

In Listed (warrants, turbos, etc.):

Volume Rates
Up to 4,000  5.95
From 4,000 0.15% (minimum € 9.95)

In European stock market:

Volume Rates
Up to 10,000 14.95
From 10,000 0.20%

To take into account Stamp duty taxes in Great Britain and Financial Transactions taxes in France.

American Stock Exchange:

Volume Rates (euros)
Nasdaq up to 50,000 14.95
Nasdaq from 50,000 0.125% (minimum 14.95)
NYSE and AMEX up to 15,000 14.95
NYSE and AMEX from 15,000 0.125% (minimum 14.95)

Stop orders: € 3 unless more than 20 trades are made per month.

As I said in the previous sections, the custody fees will be like this for national securities :

Use of Rent shares for more than € 5,000: free
More than 2 operations per month in the same market: free
Less than 2 operations per month: 4.95 month / market + VAT

For international values, it will look like this:

More than 2 operations per month in the same market: free
Less than 2 operations per month: 0.10% per year on cash (minimum 4.95 month)

For Fixed Income :

€ 4.95 per month / market

To all this we will also have to take into account the commissions of the Spanish Stock Market.

Please note that the commission for credit accounts are different.

In summary we have:

Asset Rate for the National Stock Market (if more than 100 operations are performed per month):

Up to 9,950: € 9.95
From 9,950: 0.10%

Basic Rate:

Spanish stock market: 0.25% (minimum of 9.95)
German Stock Exchange, France, Holland: 0.35% (minimum 19.95)
Belgium, Italy, Portugal and the UK Stock Exchange: 0.35% (minimum € 29.95)
American bag: 0.35% (minimum € 19.95)

Real time rates

Spain: € 0 if 3 operations are made per month
Germany: € 15 plus VAT; yes 15 operations per month free
USA: € 4 + VAT; yes 4 operations per month free

There are also rates for depth of market and as we saw before for ProReal Time , unless we do a minimum number of operations per month, normally from 15 to 20.

CFDs fees
Market Regular commission Minimum commission (local currency)
Spanish stock market 0.10% 12
German stock exchange 0.10% 12
United States Stock Exchange $ 0.020 per CFD twenty
IBEX 35 8 (typical spread) –
DAX 30 3 (typical spread) –
Gold 0.6 (typical spread) –
Petroleum 0.06 (typical spread –
Self Bank reviews

This is a broker with many opinions on the network, but keep in mind one thing: many of the opinions that we are going to find refer to banking services.

For example, in Helpmycash ( here ) we can find many opinions about both services (broker and bank).

On this website they give a score of around 6 out of 10.

Let’s see some of the opinions there are.

Positive opinions

Extensive service options
Happy clients with the use of leverage
No custody fee
Good variety of platforms

Negative opinions

Technical problems when trying to open the account with the camera
Badly configured cards
They don’t pick up the phone quickly
Misunderstandings in account opening with documents

In general I see many complaints about the delay and problems in the opening of accounts.

However, the site where we can find more useful opinions is Rankia , with numerous detailed threads on specific issues.

There we can see that it is a broker widely used for investment funds and with which clients are happy.

Are we facing a good broker? My opinion of Self Bank

Without a doubt, we are dealing with one of the most complete brokers in the Spanish market.

Today, it offers a wide variety of products, among which credit credit operations stand out, at which point it has stood out over many other brokers.

However, the cost of credit operations, both in commissions and in interest payments is quite remarkable and thus it is quite difficult to efficiently operate in the medium term. I’m not saying it can’t be done, but it’s more complicated.

Although this also depends on which exchange we operate.

If we do a lot of Spanish stock market trading it is a good broker with moderate commissions .

However, if we want to trade on the stock market, for example, American, we are going to pay 0.70% of entry (round trip), a not inconsiderable expense.

That is why I think it is close to the average of its Spanish competitors, which tend to have better conditions for the national stock market, and not so much for the foreign one.

The thing changes if we operate in cash.

As for having stopped offering futures, I do not know the reason, but I suppose it was no longer profitable, due to a low volume issue.

CFDs and Forex are offered through Saxo Bank, one of the global giants in the sector, which guarantees the liquidity of the broker.

Furthermore, in this regard and with what I have said before, I believe that the conditions for trading CFDs are better than those for trading on credit. This at least is what I would do. It is worth that you are not negotiating with the real title, but the cost of trading is lower and that is very important. With 5: 1 stock leverage we have plenty.

In addition, I always really liked the platform of this Danish broker, which has evolved over the years but maintains the original structure.

Another detail that I like is the rental of shares.

If you are a long-term investor you might be able to get one or two extra points a year doing this.

As everything in the Stock Market is not without risk, but that is something common to all markets.

I see the theme of funds quite accessible and simple with good functionality in the search for the most popular funds.

It may not have as many funds as other of its competitors but it has more than enough.

Lastly, it is obvious that we are talking about a broker more suitable for upper middle class and somewhat more important accounts.

I don’t think it’s a broker worth opening an account with a few hundred euros.

Be aware that there are a significant amount of extra costs (depth of market, platform, etc.) and that can only be well supported by a large account.

For more information visit the website .

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