Recommended for
- equity trading
Trusted broker
Regulated by top-tier financial authorities
Popularity
870
people
chose this broker in the last 6 months
BrokerChooser Score
4.2/5
ARMO Broker review summary
ARMO Broker is a Germany-based global stockbroker for investors and traders. Thanks to its link to Interactive Brokers, ARMO Broker provides access to a wide range of products and offers several great research tools. Also, it has an easy-to-use and well-designed web trading platform. We recommend this broker mainly for advanced traders because the account opening process is complicated and the desktop trading platform is not so simple to use. In addition, the broker charges high fees for derivatives products, such as options and futures. Broker Chooser gave ARMO Broker a 4.2/5 rating based on analyzing 500+ criteria and testing via opening a live account.
Is ARMO Broker a legit broker?
See how ARMO Broker is regulated and whether you should have any concerns using it.
ARMO Broker pros and cons
Pros
Cons
- Wide range of products
- Many great research tools
- Easy-to-use web trading platform
- Complicated account opening process
- Complex desktop trading platform
- High options and futures fees
ARMO Broker main highlights
🗺️ Country of regulation
USA, Ireland, UK, Luxembourg, Hungary, India, Australia, Canada, Japan, Hong Kong, Singapore
💰 Trading fees class
Average
💰 Inactivity fee charged
No
💰 Withdrawal fee amount
$0
💰 Minimum deposit
$1,980
🕖 Time to open an account
1-3 day
💳 Deposit with bank card
Not Available
👛 Depositing with electronic wallet
Not Available
💱 Number of base currencies supported
20
🎮 Demo account provided
Yes
🛍️ Products offered
Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto
Fees
ARMO Broker has low stock and ETF fees and charges no inactivity fee. On the other hand, the fees for trading options and futures are high.
Account opening
ARMO Broker’s account opening process is fully digital. However, there is a high minimum deposit and the account opening process is a bit complicated.
Deposit and withdrawal
ARMO Broker offers one free withdrawal per month and has a decent selection of account base currencies. However, it doesn’t accept credit/debit cards or electronic wallets.
Web trading platform
ARMO Broker’s web trading platform is user-friendly, has a clear fee report and is accessible via a safe two-step login process.
Mobile trading platform
ARMO Broker‘s mobile trading platform has a safe two-step login, and comes with a good search function and multiple order types. However, beginners may find it too complex.
Desktop trading platform
ARMO Broker‘s desktop platform offers great customizability and advanced order execution, but is not user-friendly and caters more to advanced traders.
Markets and products
Through ARMO Broker, you can access a wide range of markets, and all product types are available to trade.
Research
The quality of research available at ARMO Broker is good, with a wide range of available tools.
Customer service
ARMO Broker‘s customer service is good, providing useful answers by phone and meaningful responses via email. However, there is no live chat option or 24/7 support.
Education
ARMO Broker offers some educational materials and tools on its website, but only in German. You can also open a demo account. However, the materials are not well-structured and there are no educational articles.
Safety
As an introducing broker of IB, ARMO Broker is covered by top-tier regulators, granting most clients strong protection. However, IB and ARMO lack a banking background and ARMO is not publicly listed, meaning less transparency.
