SBroker Review – Pros & Cons Revealed✔️

SBroker Review – 22 key points quick overview:

1. SBroker at a Glance
2. SBroker Review – 22 key points quick overview:
3. SBroker (SPARKASSE) Overview
4. SBroker Safety and Security
5. SBroker Leverage
6. SBroker Accounts
7. SBroker Market Instruments
8. SBroker Fees
9. SBroker Deposit and Withdrawal
10. SBroker Trading Platforms
11. How to open a SBroker account step by step
12. SBroker Customer Support
13. SBroker Education   
14. SBroker Research   
15. SBroker Awards
16. SBroker vs Etoro vs XM – Comparison Table
17. SBroker Best Countries by Traders
18. SBroker Customer Reviews
19. SBroker Pro and Cons
20. Conclusion
21. Disclaimer
22. Frequently Asked Questions

SBroker (SPARKASSE) Overview

According to research in South Africa, SBroker (Sparkasse) is a Germany-based broker which has been in operation since 2001 and which offers a variety of services to customers from trading to investment and banking.

SBroker (Sparkasse) is affiliated with security systems provided by the Savings Bank Finance Group which protects the deposits of affiliated institutions in preventing economic difficulties of such.

SBroker (Sparkasse) operates under the Deposit Guarantee Act, or EinSiG, and has been doing so since it entered into force in Germany in 2015.

SBroker Safety and Security

When choosing a broker, it is imperative that traders ensure that brokers are regulated and authorized only through reputable, well-known regulatory entities.

Respectively, SBroker (Sparkasse) is regulated and authorized by:

• The Federal Financial Supervisory Authority, or BaFin, in Germany.

SBroker Leverage

Leverage, and the use thereof, allows traders to open positions larger than their initial deposit depending on the maximum ratio provided along with the regulatory jurisdiction under which the broker is regulated and authorized.

Should the trader have access to leverage of, for instance, 1:30, and they have made a minimum deposit of $1,000, they can subsequently open positions to the value of $30,000.

There is no information regarding the maximum leverage that traders can expect when opening an account with SBroker (Sparkasse) as extraordinarily little accounting information is available.

SBroker Accounts

SBroker (Sparkasse) offers the following type of accounts:

Professional account – which provides 11 domestic and over 28 foreign currencies, OTC direct trading, and numerous order types.

  Extensive account – Offers access to more than 6,500 funds, CFD trading without margin requirements, and more.

Cheap Account – depo management from £0 along with commissions from £4.99, access to free currency accounts for around 13 currencies, access to the daily KontoPlus money account, and more.

Traders need to note that when trading financial instruments such as Forex, there are overnight, rollover, or swap fees involved when holding positions open for longer than a trading day.

Muslim traders who follow the Sharia law often have the option of converting their standard live trading account to an Islamic Account, which exempts them from paying such fees which are seen as a form of interest, which the Sharia law forbids.

Often, the number and type of accounts that a trader can open with a broker company differ depending on the country in which it operates and the regulatory authorities under whose jurisdiction it falls.

SBroker Market Instruments

SBroker (Sparkasse) offers the trade in the following financial instruments:

Forex

Securities

Equities

Funds

ETFs

Bonds

SBroker Fees

When traders evaluate brokers, the trading and non-trading fees are important factors to consider and should be in line with the trader’s trading plan, financial objectives, and any limitations.

SBroker (Sparkasse) is not quite transparent with their pricing and the website is substantially difficult to navigate. When looking at fees, traders need to evaluate and compare the following:

Commissions

Spreads

Margin requirements

Overnight Fees

Additional broker fees

Deposit and Withdrawal Fees

Commissions

What can be collected from the SBroker (Sparkasse) website is that traders, depending on the type of account they hold, can expect commissions of around £4.99.

Margin

What can be derived from the SBroker (Sparkasse) website is that most financial instruments have margin requirements, but margin-free trading can be done on CFDs if traders hold an Extensive Account.

Overnight fees

Traders who are not in possession of an Islamic account are subjected to charges when positions are held open for longer than a day. The fees charged will be determined by the financial instrument as well as the duration of the open position.

There is no mention of overnight or swap fees on the SBroker (Sparkasse) website causally linked to this.

Additional Broker Fees

Traders need to note that some brokers charge fees should their trading account be left dormant for a certain time. This fee differs between brokers and traders will need to verify this information before opening a live trading account.

SBroker (Sparkasse) charges custody management fees should total trades in a quarter be less than $10,000, although the exact charges are not mentioned. An inactivity fee of £3.99 will be charged on inactive accounts although the details of inactivity are not provided.

Deposit and Withdrawal Fees

There is no mention of either deposit or withdrawal fees on the SBroker (Sparkasse) website.

SBroker Deposit and Withdrawal

There is no minimum deposit requirement indicated in opening either of the accounts that SBroker (Sparkasse) offers and neither is there any indication of the payment methods which are supported when making deposits or withdrawals.

It may only be assumed that common payment methods will include:

Bank Wire Transfer

Credit/Debit Cards

It cannot be ascertained that SBroker (Sparkasse) supports e-payments such as Skrill, Neteller, or any others, and the deposit currencies supported are not indicated either.

It can only be assumed, when comparing SBroker (Sparkasse) to others of its kind that the following major currencies will be accepted, amongst others:

USD

EUR, and

GBP

SBroker Trading Platforms

Trading platforms serve as the trading environment, or vehicle, through which transactions are executed and brokers may offer a variety of trading platforms, or they may rely on their own proprietary in-house trading platform which is tailored to their trading conditions.

There is no information pertaining to the trading platforms that SBroker (Sparkasse) offers.

How to open a SBroker account step by step

Opening a demo account with SBroker (Sparkasse) is a relatively simple process, which will consist of the following steps:

Step 1 – Open Your Account

Visit the SBroker (Sparkasse) website, Click on “Join Now” in the bottom right-hand corner of the website

Step 2 – Fill out the form

In opening a live trading account, or a depo, traders will have to complete the online application which may involve the submission of documents pertaining to the trader’s identity and proof of residence.

This forms part of a Know Your Client, or KYC, process that is required by most brokers in order for accounts to be verified and approved.

SBroker Customer Support

SBroker (Sparkasse) can be contacted either through the telephone numbers provided, or by submitting an online request pertaining to general queries, technical queries, or criticism and suggestions.

Unfortunately, the SBroker (Sparkasse) website does not provide an instant/live chat to allow for queries to be addressed immediately and support is only available during specific hours from Monday to Sunday.

SBroker Education   

Educational tools and resources serve the purpose of helping traders, especially beginners, in learning about trading and trading specifically on the broker’s platform. These resources often incorporate a variety of tools and offer substantial support to traders.

SBroker (Sparkasse) does not offer any educational tools or resources on the website.

SBroker Research   

SBroker (Sparkasse) makes comprehensive and extensive provisions in the following research and trading tools:

Analyst recommendations

Market Commentary

Technical analysis

Chart analysis tools

Professional trading

Individual product analysis, and

Stock monitors

SBroker Awards

The SBroker (Sparkasse) website does not indicate whether there are any awards that have been won during the time that the broker has been in operation.

SBroker vs Etoro vs XM – Comparison Table

SBroker Best Countries by Traders

SBroker Customer Reviews

Good choice

competent and fast + friendly answering all questions

null problem

So I have to say that I can’t complain, I just called the hotline and got through right away, the employee was able to help me very quickly and was friendly, so I give it 5 stars for that.
Maybe it’s also the timing, I called there at 11, don’t know if it might be more difficult in the afternoon

I’ve been a customer for 6 years…

I’ve been a Sbroker customer for 6 years and have never had any problems. Recently I had to call the hotline because I made a mistake with the tan list. I couldn’t get through in the morning and at noon, but I got through right away in the evening and had a very friendly employee who helped me immediately. Otherwise, I do everything online and am very satisfied. I think it’s particularly good that my Giro is also my depot. I give 5 stars, even if I have to admit that the music on hold is really annoying ?

SBroker Pro and Cons

Conclusion

Overall, SBroker is a  trustworthy and reliable broker that provides traders with ample digital tools. SBroker (Sparkasse) offers 3 types of accounts, a Professional account, an Extensive account, and a Cheap Account. SBroker is regulated by BaFin.

Disclaimer

SBroker (Sparkasse) warns potential customers that Forex and CFDs trading always carries a high risk and may not be suitable for all investors.

Before deciding to trade with SBroker (Sparkasse), potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.

Traders need to ensure that they understand the trading conditions as SBroker (Sparkasse) cannot be held liable for losses incurred that arise from trading decisions made.

Frequently Asked Questions

How many instruments can I trade with SBroker (Sparkasse)?

You can trade, and invest in, the following:

• Forex
• Securities
• Equities
• Funds
• ETFs
• Bonds

Which platforms are supported by SBroker (Sparkasse)?

There is no indication as to what trading platform is provided or supported by SBroker (Sparkasse).

Does SBroker (Sparkasse) offer leverage?

Unsure. The website does not indicate whether leverage is offered.

Does SBroker (Sparkasse) charge commission?

Yes. Depending on the type of account, traders can expect commissions of around £4.99

What is the overall rating out of 10 for SBroker (Sparkasse)?

3/10

Featured SA Shares Writer and Forex Analyst.