AGORA direct
Experiences, reviews and information about the provider
Details
Pros
- Access to Interactive Brokers' trading infrastructure with very broad market access
- German-language service and German contract documents
- Trading in futures, options and currencies at low order fees
- Permit and supervision by BaFin
Cons
- No deposit protection, only investor compensation up to €20,000 via Ireland
- Complex platform and fee structure, not well suited to beginners
- No German settlement account, settlement runs through Interactive Brokers
- No automatic German flat-rate withholding tax (Abgeltungsteuer), investors must declare it themselves
Fact sheet: AGORA direct
| Company name | AGORA direct |
| Founded | 2001 |
| Headquarters | Berlin |
| Country | 🇩🇪 Germany |
| Type | profi broker |
| Website | agora-direct.com |
About AGORA direct
AGORA direct is the brokerage brand of First Quant GmbH, based in Berlin, which has been in the market under this name since 2001. The company holds a permit from BaFin (the German financial regulator) as a securities institution (Wertpapierinstitut) and acts as an introducing broker for Interactive Brokers Ireland Limited (IBIE): AGORA direct looks after customers in German, but the account and the securities are held at Interactive Brokers. It offers shares, ETFs, bonds, futures, options, currencies and CFDs on more than 175 exchanges in over 40 countries. There is no traditional deposit protection (Einlagensicherung), because neither AGORA direct nor Interactive Brokers Ireland Limited is a deposit-taking credit institution – securities are held as customer property, separate from the broker's own assets, and cash balances are covered by the Irish investor compensation scheme, which is limited to 90 percent of the claim and a maximum of €20,000. The offer is aimed at experienced private investors who trade on their own, not at beginners.
Special features
- Introducing broker of Interactive Brokers Ireland Limited
- Brand of First Quant GmbH, registered at the Berlin-Charlottenburg local court
- Securities are held as customer property, separate from the broker's assets
- Additional private cover from Interactive Brokers through SIPC and Lloyd's for US positions
