Onvista Bank: Review and real user-ratings

Onvista Bank user-ratings $0
9.5/10
9.5 of 10 points 1 reviews
  • Asset varierity - 10/10
    10/10
  • Trading platform - 10/10
    10/10
  • Support - 10/10
    10/10
  • Fees - 7.5/10
    7.5/10
  • Deposit/Withdrawal - 10/10
    10/10

Facts about the company:

  • Type: CFD and Stock broker
  • Regulation: BaFin (DE)
  • Minimum deposit: 0
  • Demo account: Free
  • Markets: 18.000+ Shares, Funds, CFD’s, Commodities, Indices, Warrants/Certificates
9.5/10
Comments Rating 9.5/10 (1 review)

Pros

  • Does not require a minimum deposit
  • Is regulated by an official institution with strict guidelines
  • Offers a free demo account
  • Has a variety of trading options
  • Many years of experience in the financial sector

Cons

About Onvista Bank

Onvista Bank is an online broker that belongs to Comdirect and offers a range of popular types of securities for trading both on and off the stock exchange.

The company was founded in 1997 with the original name “Fimatex” and was only renamed “Onvista Bank” in 2008.

Screenshot of the Onvista Bank landing page

A special feature is also the interaction with the offers of the financial portal onvista.de.

In contrast to ordinary banks, however, Onvista Bank does not offer classic banking services such as current accounts or call money accounts. Instead, the company is completely focused on the trading sector.

History of Onvista Bank

In 1997, Fimatex founded a branch office in Germany, which was the first broker to enable private investors to trade over the phone via Eurex. A year later, the company already launched its own trading platform with the GTS trading software. In 2000, the online broker Fimatex S.A. went public on the Paris stock exchange. In 2003, the company was renamed Boursorama S.A.

In 2008, the broker finally became known as Onvista Bank, and in 2009, the brokerage business of Boursorama was taken over completely, whereupon “Onvista Bank” became an independent institution in the field of trading.

At the beginning of 2013, the portfolio offered will be expanded to include trading in CFDs. Two years later OnVista Media GmbH moves to Frankfurt, where the entire Onvista Group is currently located under one roof. In 2017, the company has a customer base of over 100,000 customers; in the same year, Onvista Bank becomes a full subsidiary of comdirect. However, this will not have any direct influence on the customers; Onvista Bank will continue to be the direct contact.

Regulation and deposit insurance

Since the central branch of Onvista Bank is located in Germany, the Company is subject to the requirements of the German Federal Financial Supervisory Authority (BaFin). In addition to regulating the Online Broker in accordance with the rules, BaFin also ensures that customer deposits are secured.

The latter aspect is ensured, among other things, by separating company capital and customer deposits. In addition, the legally required minimum protection for capital contributions in Germany is USD 118,505. Apart from this, Onvista Bank is also a member of the “Deposit Protection Fund of the Association of German Banks”. As a result, customer deposits are again protected, with up to USD 125,993,984.40 per customer.

Awards for Onvista Bank

Since 2008, the online broker under the name of Onvista Bank has already won a number of different awards. All of these awards can be viewed at any time on the website of Onvista Bank. In order not to go beyond the scope of this article, we will only briefly list some of the current awards below.

  • Test winner Online Broker Test 2019

Onvista Bank will be awarded first place for the tenth time in 2019 by the renowned magazine “€uro am Sonntag”.

  • 3rd place in the 2019 broker selection

In the “ETF & Certificates” segment, the online broker achieved third place in 2019.

  • Top mark in the Extra magazine Sparplan-Test

Extra magazine (ETF) awarded the online broker the top rating of “very good” in the “direct banks” category.

Which trading instruments are offered by Onvista Bank?

Next, we come to one of the crucial aspects when it comes to finding the right broker. We are talking about the trading instruments offered. Onvista Bank offers its clients a range of different securities and derivatives, all of which can be traded via an account and a securities account. The online broker’s offer comprises more than 18,000 funds. In the following, the individual trading instruments will be briefly introduced.

Shares

Initially, investors can trade shares in the classical way at Onvista Bank. In this context, clients have access to exchange trading on both German and US stock exchanges. NYSE, NASDAQ, and AMEX are the US stock exchanges on which Onvista Bank clients can trade. On the other hand, Onvista Bank clients can also trade directly off-exchange. Over-the-counter trading in shares is carried out via the trading partners Baader, Commerzbank, and Lang & Schwarz.

Warrants/Certificates

Onvista Bank also offers trading in warrants and certificates. As with share trading, these can also be traded either over-the-counter with the corresponding issuers or on the stock exchange.

Funds

In the area of funds, the online broker has over 18,000 funds to offer, almost all of which are licensed in Germany. One advantage is that no expenditure surcharges are charged by the company. Instead, there is a low-cost “order commission to buy and sell orders”.

CFDs

At Onvista Bank, investors can also trade CFDs on indices, stocks, currencies, commodities and futures. More than 1,200 different CFDs are offered, which can be traded both long and short. The leverage is between 1:5 and 1:30, depending on the trading instrument, and there is no obligation to make additional contributions. Commerzbank serves as the German market maker and is responsible for hedging the position overhang as well as the hedging.

At this point, an overview of the margins to be achieved and the levers of the various trading instruments will be provided.

CFDs onRequired marginlever
shares20%1: 5
Futures20%1: 5
Volatility index20%1: 5
Precious metals5%1:20
raw materials10%1:10
currency3.33%1:30
Indices5%1:20

Savings plans

In addition, savings plans at Onvista Bank also offer the possibility of increasing your assets over the long term. In this context, the Online Broker offers fund savings plans, certificate savings plans, ETF savings plans, and ETC savings plans, which can be purchased with an execution fee of just 1.20 Dollars.

Stock exchanges and trading hours of Onvista Bank

We already know that clients of Onvista Bank can trade both on and off the stock exchange. In exchange trading, the stock exchanges and trading hours always play an important role. Therefore, this chapter will also briefly examine these aspects in more detail. In principle, 12 stock exchanges are available, 9 of which are in Germany and 3 in the USA.

Domestic stock exchanges
At Onvista Bank, clients can trade on the following exchanges within Germany during the trading hours indicated:

Stock exchangesharesWarrantsFunds / ETFsBonds
Berlin08:00 – 20:0008:00 – 20:0008:00 – 20:0008:00 – 17:30
Dusseldorf08:00 – 20:0008:00 – 20:0008:00 – 20:0008:00 – 17:30
Frankfurt08:00 – 20:0008:00 – 20:0008:00 – 22:0009:00 – 17:30
Hamburg-Hanover08:00- 20:0008: 00 – 20:0009:00 – 20:0008:00 – 17:30
Munich08:00 – 20:0008:00 – 20:0008:00 – 20:0008:00 – 17:30
Stuttgart08:00 – 22:0008:00 – 22:0008: 00 – 22:0008:00 – 18:00
Quotrix08:00 – 22:0008:00 – 22:0008:00 – 22:0008:00 – 22:00
Tradegate Exchange08:00 – 22:0008:00 – 22:00x08:00 – 20:00
Xetra09:00 – 17:3009:00 – 17:30xx

Foreign exchanges
Regarding exchange trading abroad , traders at Onvista Bank can choose from the following three US exchanges:

Stock exchangeTrading hours
NYSE3:30 p.m. – 10:00 p.m.
NASDAQ3:30 p.m. – 10:00 p.m.
AMEX3:30 p.m. – 10:00 p.m.

What trading opportunities are offered by Onvista Bank?

In order to enable Onvista Bank’s clients to trade as efficiently as possible, the Online Broker provides the necessary trading software. Investors can choose between several methods.

Web trading

The first option shown is web trading, which can be individually configured by the users from a variety of service components as they wish. This includes, for example, online transfers or the administration of savings plans. Furthermore, several integrated tools ensure that a quick reaction to market movements is possible at any time. Trading, for example, always takes place in real-time and customers can also set up special watch lists.

Mobile web trading

Mobile web trading is also offered as a solution for customers who prefer to trade via their smartphone or tablet. This allows users to access their portfolio at any place and at any time. The mobile Webtrading also convinces with a number of helpful functions and tools. Navigation is straightforward and watchlists can now also be created within the mobile version.

Trading Software GTS

Already in 1998, the online broker developed software called “GTS”, which made browser-independent trading possible. This trading platform has of course been further optimized in recent years and now offers many different advantages. The updating of the real-time prices is also done in seconds. In addition, the software has an integrated chart tool that fulfills all essential functions.

There are basically two variants of the GTS trading software: On the one hand there is the GTS Basic Model and on the other hand the GTS Premium Model. Both variants have important functions, but for professional trading the Premium Model is recommended. In addition to the features of the Basic version, the Premium version also allows individual selection of quote provision and real-time quotes in streaming mode.

Telephone trading directly via the exchange traders

Last but not least, the online broker Onvista Bank also offers the classic option of telephone trading, which can be carried out directly via the exchange traders. With this alternative trading option, customers can also trade quickly, easily, and flexibly. The responsible team can be reached by telephone from 8:00 to 22:00 hrs. every trading day. Apart from trading orders, the members of the telephone service team can also respond to other concerns and questions.

Trading conditions with Onvista Bank

Let us then come to another fundamental point in the selection of a suitable broker: the trading conditions. In this context, interested investors can choose between two account types at Onvista Bank. On the one hand, there is the FreeBuy account and on the other hand, there is the fixed-price account. For trading CFDs, in turn, a corresponding CFD trading account is required.

FreeBuy Deposit Account

The special feature of the FreeBuy portfolio is that securities can be acquired through the so-called “FreeBuys” without order commission. As a customer, you receive these FreeBuys on the basis of the “average credit balance” on the respective account. These can then always be used in the following month and can in principle be used on all German stock exchanges. As a new customer, you even get a “welcome bonus” of 2 FreeBuys! The advantages of this account type are as follows:

  • There is no order commission for the purchase of securities
  • “FreeBuys” as monthly freebies
  • 16 issuers are available for over-the-counter trading
  • Limits can be set up free of charge, as well as modified and also deleted
  • A flat order fee of 7.10 Dollars + 0.25 % of the order volume is charged for purchases and sales (but no more than 59 Dollars)
  • Management of the securities account is free of charge

The number of FreeBuys, which are credited to a user, depends either on the minimum balance in the previous month (FreeBuy Cash) or on the minimum number of trades in the previous month (FreeBuy Trade).

Fixed-price depot

An alternative to the FreeBuy depot is the so-called fixed price depot. New customers can also benefit from this type of account: The new customer campaign guarantees a permanent 6 Dollars order commission for all securities at all German trading centers, independent of volume. The only thing that remains to be noted is that a further 2.40 Dollars flat-rate trading center fee is generally payable; if necessary, a brokerage fee may also be payable when trading on the stock exchange.

For trading on the US stock exchanges, however, the order commission is USD 12 plus a flat-rate trading venue fee of USD 6. The list of advantages is accordingly as follows:

  • Custody account management is free of charge
  • 16 issuers are available for over-the-counter trading
  • Limits can be set up free of charge, as well as modified and also deleted
  • The order commission is not tied to the volume
  • Orders on the Xetra and Frankfurt stock exchanges are executed on the same day and are free of charge

CFD Trading

At Onvista Bank, trading CFDs is an exception in terms of the fee schedule. On the one hand, a commission plus a percentage depending on the trading volume is charged both when opening and closing a position. This commission varies depending on the trading instrument, which is shown in the table below.

On the other hand, a spread is always due, which can also change during volatile trading hours. The current spreads for some important trading instruments are shown below.

When trading CFDs, the required margins and leveraged positions always play a major role. For this reason, a brief overview of the conditions in this regard is also provided.

Telephone trading, however, is only used as an emergency option in the CFD area. In principle, orders are only placed online or directly via the CFD trading platform. In this case, the use of the telephone service is subject to a flat fee of 12 Dollars.

Opportunities for training and further education

The online broker Onvista Bank also offers a number of opportunities on its website for personal training in the financial and stock exchange sector. For this purpose, webinars are provided at regular intervals, which deal with various topics related to trading. In addition, the Online Broker is always active at certain trade fairs or stock exchange days.

Customer Service at Onvista Bank

Finally, a brief look at the customer service of Onvista Bank is to be taken. Depending on the individual request, the online broker has a corresponding telephone contact point.

For existing customers (Mon-Fri 08:00 am – 7:00 pm) and for interested parties (Mon-Fri 09:00 am – 6:00 pm), for example, there is a service team responsible for each case.

A different team is responsible for questions concerning securities trading (Mon-Fri 08:00 am – 10:00 pm) than for questions concerning GTS software (Mon-Fri 08:00 am – 8:00 pm).

The service team can be contacted by telephone or e-mail.

Support available:9 am- 2 pm per work day
Telephone:+49 (0) 69 7107 – 530
Address:service@onvista-bank.de
Languages:1+ languages

Conclusion

In conclusion, it can be said that Onvista Bank offers its clients a wide range of trading services at fair conditions. The account models “FreeBuy-Depot” and “Fixed Price Depot” offer investors numerous useful advantages and functions, especially the promotion for new customers proves to be interesting. Only in the area of the structural overview of the portal, some customers seem to be partially dissatisfied when looking at some of their experience reports on the Internet.

The bottom line, however, is that Onvista Bank is a serious offer from Comdirect, which has a high-security standard and a favorable price structure.


Most asked questions:

Is Onvista Bank a trustworthy broker?

When you trade using the Onvista Bank services, you are protected by very strict guidelines as this online broker is regulated by the BaFin, an official German institution of the financial sector.

What can you trade at Onvista Bank?

You can trade shares, as well as warrants or certificates. Furthermore, the broker has a large variety of funds to offer in combination with CFD’s including commodities and indices.

Does Onvista Bank offer educational material?

Yes, it does. You can either for example attend a webinar free of charge or visit the company at a local financial fair.

Which stock exchange options are there with Onvista Bank?

Overall, there are 12 stock exchanges available. 9 of them are based in Germany and 3 are located in the USA.

One Response

  1. Andre Witzel September 8, 2020

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