Low, fixed fees
|Headquarters||Mint Global Markets U.K, Ltd. WeWork Moorgate, 1 Fore St, London, EC2Y 9DT, U.K.|
|Support Number||+44 203 488 3871|
|Support Types||Phone, live chat and email: [email protected]|
|Trading Platform||Web-based trading, desktop trading, mobile trading|
|Minimum 1st Deposit||$100|
|Minimum Account Size||None|
|Minimum Trade Amount||$5|
|Maximum Trade Amount||None|
|Bonus||Low, fixed fees|
|Payout||Within 48 hours, $40 per withdrawal request|
|Leverage||1:1 up to 1:5|
|Free Demo Account||Open Demo|
|Regulation||MintBroker is the trading name of Mint Global Markets UK, Ltd., a company registered in England and Wales (No. 10989337). Mint Global Markets UK, Ltd. (FCA No. 791308) is an Appointed Representative of Thornbridge Investment Management LLP (FCA No. 713859) which is authorised and regulated by the Financial Conduct Authority.|
|Fee Info||$5 per trade, $0,50 per option|
|Account Types||Demo Account, Real Account|
|Deposit Methods||Bank wire transfer, credit card, Skrill, Neteller|
|Withdrawal Methods||Bank wire transfer, credit card, Skrill, Neteller|
|Trading Methods||Hedging, scalping|
|Number of Assets||10000+|
|Expiry Times||Depends per option contract|
|Types of Assets||More than 10,000 different U.S.A stocks and options|
|Account Currency||United States Dollar|
|US Traders Allowed|
Is Mintbroker reliable or a scam? In this Mintbroker review we are going to discuss the pros and cons of trading with this discount broker.
Mintbroker Review Summary
Mintbroker is a UK based discount broker that allows individual traders to trade the American Stock Exchange at super low fees. The company is transparent in their costs and their web-based trading platform is free to use. Their broad range of American stocks and options is favored among many, mostly UK traders. One can also short stocks on Mintbroker.
You can trade from a desktop computer, mobile phone or tablet with up to 1:5 leverage during trading hours. US traders cannot open an account unless they use a VPN. You can learn more about using a VPN in this article:
At Mintbroker you pay a fixed fee per stock. Non-active traders have to pay an inactivity fee at this broker if they buy or sell less than 5 stocks per month.
Mintbroker is an ideal broker for day traders that like to trade the American Stock Exchange. Long term traders are better of with a broker like SureTrader.
Mintbroker is established just last year in London. Mintbroker is a discount broker aimed at day traders who want to trade the American Stock Markets at low, fixed fees. The good looking Mintbroker mobile app is available on iPhone and Android. With Mintbroker you can trade on-the-go.
Using Mintbroker, you can trade thousands of different American stocks, short them, hedge them with options, all against a low, fixed price.
Mintbroker’s trading platform offers superior technology and traders from all levels can open an account. The interface is very simplistic and easy to navigate. Buy-and-hold traders are better of at a different broker. This is because Mintbroker requires a minimum of 15 trader per quarter. American citizens cannot open an account at Mintbroker.
Mintbroker is founded last year in London. Mintbroker is a discount broker aimed at day traders who want to trade the American Stock market against low, fixed fees. The nice looking Mintbroker mobile app is available on iPhone and Android smartphones and tablets. This way you can use Mintbroker to trade on-the-go.
At Mintbroker, you can trade thousands of different American stocks, short them or hedge with options.
Mintbroker’s trading platform offers superior technology and traders of each level can trade at this broker. The interface is simplistic and easy to navigate. Buy-and-hold traders are better of at a different broker because Mintbroker wants you to open at least 15 positions per quarter. American citizens cannot open an account at Mintbroker.
For what kind of traders is Mintbroker?
Mintbroker is perfect for day traders who want to trade on the American Stock Exchanges. You can buy and sell more than 10,000 different stocks against a low, fixed fee. Traders can trade on their desktop computer, smartphone or tablet. Pre-and afterhour trading is available on all stocks since March 2019.
Mintbroker is best suited for active traders that like to use advanced charting, short-selling and complex option strategies. Novice traders can be quite overwhelmed by all the different features. Luckily, demo accounts are available for new traders to use, so they can get to know the platform and get familiar with it.
Mintbroker Trading Platform and Tools
Mintbroker Desktop Trading Platform
This is probably the most powerful trading platform with the greatest range of tools and features. The platform offers level 2 quotes and direct access order routing services. Multiple order types and risk management tools are at your disposal so you can minimize your losses and maximize your gains (stop/loss and take profit features, as well as trailing stop and several other). Experienced traders can use Mintbroker without a mouse or trackpad by using hotkeys to speed up the process and never lose out on an opportunity.
The Mintbroker desktop Trading Platform offers real-time news and the most advanced charting options. It’s the perfect trading platform for experienced day traders.
Mintbroker Web-based Platform
The web based platform is not as advanced as the desktop trading platform. Yet, this platform has the tools and features available for experienced day traders and new traders a like. Level 1 order quotes offer accurate prices of thousands of different American stocks. Traders can easily switch from stocks to options and back.
The web-based trading platform can be used in combination with mobile and desktop browsers like Internet Explorer Version 10, Chrome version 16 or Firefox version 11 are the minimum requirements to trade on the platform. Traders can download the software for free after registering an account at Mintbroker.
Mintbroker Mobile Platform
The Mintbroker mobile platform has the same powerful tools as the desktop platform but is redesigned in to a easy-to-use smartphone trading system. Level 2 quotes are available and traders can directly trade the markets with just a few swipes or clicks. Trades are executed instantly and real-time news is offered in the form of notifications on your phone. You need at least Android 6 or iOS 7 or higher to use the mobile trading app.
Mintbroker Research Tools and Offers
You can easily do your research and due diligence for options and stocks on Mintbroker using their charting tools and stock news information features. The entire American market is offered in a transparent way and displaying in level 2 quotes, advanced charting features and a blog where different aspects are being discussed.
Level 2 news reports cost $25 per month for account holders and even non-professional traders have access to real-time news reports by using Mintbroker’s web trader. Mintbroker, unfortunately, misses out on news reports from premium services and companies like Morningstar, Credit Suisse and UBS.
The offered tools and features by Mintbroker are okay, but our advise is to also follow research being done and market analysis from other sources. For instance, subscribe to our newsletter to stay up to date with the latest broker information, stock and crypto news and analysis.
Mintbroker’s Commissions and Fees
Mintbroker is very transparent in it’s fees and commissions. All stock trades cost $5 commission. It does not matter how big the trade is or how much you trade, Account holders can open and close unlimited amount of trades per month but there are no discounts for very active or rich traders.
A low $5 commission appeals mostly to low-volume traders. Traders that place hundreds of trades a month are probably cheaper of at a different broker like City Index.
Options don’t cost any commission at Mintbroker, just a fixed $0,50 fee per contract. All deposits made on Mintbroker are exchanged to United States Dollar. Due to the exchange fees charged by your own bank, your deposited amount might turn out lower at your Mintbroker account.
Mintbroker does charge a few different fees, but at least they are honest about it. Mintbroker charges a $50 inactivity fee per quarter if you place less than 15 trades. The web-based trading platform is free to use but the desktop and mobile platform cost extra. ($35 a month for the mobile platform and $49 per month for Mobile Plus Pro Desktop Software).
Profession traders can choose to pay $40 a month extra to access NASDAQ quotes and $65 extra to access AMEX and NYSE quotes. Market depth data and level 2 quotes cost $40 a month. Options, futures and pink sheet quotes each have their own respective fees. Withdrawing money from Mintbroker also costs money.
Now, you might think the costs quite add up at Mintbroker but Mintbroker is still one of the cheaper, reliable brokers to trade United States Stocks. The standard, fixed fee of $5 per trade is eventually cheaper than most other brokers.
Mintbroker Security and Reliability
Mintbroker is officially licensed and registered as Mint Global Market U.K. Limited, a subsidiary company from Thornbridge Investment Management LLC. Thornbridge is regulated by the English Financial Conduct Authority (FCA). Traders are insured up to $1,000,000 in the unlikely case the broker goes insolvent or bankrupt.
Mintbroker uses the latest technology and encrypts clients data to prevent fraud. Secure socket layer (SSL) technology protects all information that is being send to and from the broker and it’s clients.
Mintbroker Customer Service
The Mintbroker customer service can be reached in several ways. There is a live chat feature on their website. The support page on their website also offers a FAQ and answers the more common questions brokers might have.
Using the contact form you can ask questions or send a suggestion to Mintbroker.
In our opinion, the live chat feature is the easiest way to contact Mintbroker. But if you want to talk them personally, calling them by phone is probably the best way to go. You can find Mintbroker’s phone number in the company details section of this Mintbroker review.
Mintbroker Product Offering
Accessing the United States stock market is not easier at any broker compared to Mintbroker. As mentioned earlier in this Mintbroker review, you can trade over 10,000 different United States stocks with them. Alternatively, you can hedge your long positions with options for just $0,50 per option contract.
Long-term and day traders can access futures data but can also trade stocks and options. So far, no other broker has so many options for American stocks.
Pre-market and after-market trading is possible on all the Mintbroker trading platforms and you can set a leverage of up to 1:5.
Mintbroker User Interface
Mintbroker is designed for day traders. Although the platform looks like it’s aimed for experienced traders, the trading platform is also easy to use for beginning traders. All three platforms are suitable to trade the American stock market.
New traders can try out Mintbroker with a free demo account.
the trader’s environment is safe and the leverage is being set automatically. Mintbroker has a few blog posts available on how to open an account, how to use trade momentum and how to use trading techniques like range-bounds, oscillators, P/E Ratio etc.
Experienced traders and day traders have direct market access trough order routing, order stops, take profits and level 2 quotes. The mobile and desktop trading platforms are mostly designed for experienced traders but this doesn’t mean new traders cannot learn the platform.
If you’re new to online trading, take the time to read this article:
Mintbroker review Conclusion
Mintbroker only exists for a few years but is already very popular among day traders that like to trade the American stock market. The possibilities to buy stocks and options on the same trading platform appeals to many traders. The huge range of socks, pink sheets and penny stocks and the low minimum deposit required of just $100 makes this broker suitable for any kind of trader. Low costs per trade or transaction and transparancy is what makes Mintbroker a good broker to trade with.
The fact that Mintbroker doesn’t use floating spreads but fixed prices results in an overall cheaper broker. To trade American stocks, Mintbroker is a one of the better brokers to trade with.
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