ARMO Broker
Experiences, reviews and information about the provider
Details
Pros
- German-language personal support rather than a pure self-service broker
- Very broad market access via the Interactive Brokers platform
- Securities are held as customer property, separate from the broker's assets
- Trading in futures, options and currencies possible
Cons
- No deposit protection, investor compensation in Ireland limited to €20,000
- No BaFin supervision, the Irish central bank is responsible
- Fee structure is regarded as complex and hard to compare
- No automatic payment of German flat-rate withholding tax (Abgeltungsteuer)
Fact sheet: ARMO Broker
| Company name | ARMO Broker |
| Founded | 2019 |
| Headquarters | Dublin, Zweigniederlassung Düsseldorf |
| Country | 🇮🇪 Ireland |
| Type | profi broker |
| Website | armobroker.de * |
About ARMO Broker
ARMO Broker LTD. was founded in Dublin in 2019 and has had a branch in Düsseldorf since the end of 2019. The provider is not a credit institution itself but, as an introducing broker, arranges accounts with Interactive Brokers Ireland Limited (IBIE), which is supervised by the Central Bank of Ireland; Germany's BaFin (the financial regulator) is not responsible. Through Interactive Brokers' infrastructure, shares, ETFs, bonds, funds, futures, options, currencies and CFDs are available on around 160 trading venues. Securities are held as customer property, separate from the broker's own assets, and therefore do not form part of the insolvency estate; there is no deposit protection (Einlagensicherung) for cash balances, only the Irish investor compensation scheme of 90 percent of the claim up to a maximum of €20,000. The difference from direct access at Interactive Brokers lies mainly in the German-speaking contact person by phone and email.
Special features
- Introducing broker of Interactive Brokers Ireland Limited
- Registered with the Irish Companies Registration Office under number 648125
- German branch on Hüttenstraße in Düsseldorf
- Access to more than a million tradable financial instruments
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