In cooperation with her subsidiary ViTradeAG the biw bank founded the company «Benk». After a longer development phase in 2013 the company went in 2014 to the market and deals with since that time for on-line banking customers and traders stock exchange transactions. The special in the new broker is his innovative prize model as well as the fact that Benk his action main focus lays on mobile banking transactions with Tablet and Smartphone. A customer’s model which should be deepened during the next years even further.
The customers will profit therefore from the experiences which makes «Benk» during the next years with future-oriented Trading and which are at the same time inalienable. Besides, offers «Benk» his customer with börslichen and außerbörslichen trade, commercial possibilities for CFDs as well as an extensive foreign trade, a varied offer. In addition, offers «Benk», in cooperation with the biw bank, in addition, credits, current accounts, other investments as well as individual consultation. To protect enough the insert capital, the financial institution is linked up of course to the insert protection fund of the federal organisation of German banks inc. Therefore it concerns with Benk not scam or Duffing, but a serious on-line broker.
Offers and conditions
Benk offers as the first on-line broker for traders package prices in the subscription and to itself the price model divides into four general categories:
- a = Package prices of trader
- b = Prepaid orders for active investors
- c = Standard prices of long-term investors
- d = Fund package for fund investors
With the package prices it is distinguished between a foreign package and an inland package. The inland package can be ordered for 24.99 euros monthly and contains in each case 250 außerbörsliche Trades in the month for structured products with one of four partners from Benk: Deutsche Bank, Commerzbank, Citigroup, BNP Paribas. In addition, Stuttgart, Frankfurt, Xetra and Tradegate can be chosen for trade between the stock market places. For Stuttgart and Frankfurt 15 orders are included in each case monthly in the price, for Tradegates 100 orders.
The foreign package contains for 45.99 euros of 20 Trades in the month on the US stock exchanges AMEX, NASDAQ, NYSE (ARCA) or alternatively 10 Trades in Toronto or 5 in Lisbon, Brussels, Paris or London. The package prices look rather favorable at first sight. However, it must be noticed that it concerns with the package rates in each case contracts with least terms of 12 months which can be terminated with a period of one month at the term end. Also is to be considered that outside costs are not included in the package price. Thus, for example, an outside cost-all-inclusive of a euro is charged with Tradegate trade by the inland and from two euros abroad. Also with a choice of the stock market place which cannot be changed during the respective contract period exact reflexion is announced.
With the second prize model is from Prepaid orders the speech. These are valid for 12 months on all domestic commercial places and less than four alternatives a choice can be met:
- a = 10 orders for 45 euros
- b = 25 orders for 110 euros
- c = 50 orders for 200 euros
- d = 100 orders for 350 euros
Who would like to book neither a 12-month subscription nor Prepaid orders with Benk, can act to standard rates from 6.49 euros for domestic and 9.99 euros for foreign orders, plus outside costs.
In our test we have found out that «Benk» the annual depot guidance, order changes or one cancels other, limits and the share implementation same to day offers free of charge. With telephonic placing of order 10 euros result, in addition, order, for the relation of foreign dividends less than 15 euros a commission of 1.50 euros is brought in charge. If the dividend payment higher lies, the commission on 5.00 euros rises.
About Benk can be traded with these rates fund, ETFs, stocks, CFDs, loans, derivatives and certificates. Also ETF savings plans and funds can be traded, nevertheless, are available only in low number. Beside the securities trading an interest package is also offered for 3.99 euros. With this package can be invested credit as fixed term deposits, as well as be taken up collateral loans and additional credits.
For direct trade are available with Benk, beside the German stock market places, other locations in Portugal, Austria, Canada, Italy, France, Belgium, the Netherlands as well as the USA and Switzerland.
With the use of a Benk depot different standard-order kinds are entitled to the investor., Among the rest, in addition belong, beside the usual stop-order kinds, also the OCO order as well as the Trailing stop. Real-time exchange rates against it are not included in the performance extent, they cost 1 cent call, on monthly account about the customer’s account.
The ext. from Benk in the test
The bonus for new customers
A direct bonus in the form of money does not offer «Benk». Instead, one receives within the scope of a topically current action as a new customer with this financial institution ten Freetrades, no matter whether these Trades are placed by the inland or possibly außerbörslich. However, in this comfortable offer no outside costs and stock market place fees are included. The Freetrades are automatically used with orders and go to ruin after six months. «Benk» looks, for the rest, at everybody as new customers who has maintained no depot at the bank last half a year.
The Support from «Benk» is quick, at the same time easy and comfortably accessible. The Benk experiences show clearly that customers contact this best about mail. A German fixed network number is available to the direct establishment of contact for quite hasty cases as the hotline which is accessible about the local rate. This hotline is taken from Monday till Friday of from eight to 22 o’clock. Within this time always exists the opportunity to clear open questions with a direct contact, so that problems an cbe fast got out of the way. Also is worthwhile with Benk, after our experience, the establishment of contact about the contact form of the web page. Here every trader can describe his concern directly, at short notice the feedback of the Support team follows.
Webinars and trainings in view
Regulation and protection with Benk
The bank is linked up to the Einlangensicherungsfonds of the federal organisation of German banks inc. This protects all liabilities which must be shown with an insolvency in the balance position „liabilities towards customers“. Savings inserts, date inserts and view inserts, including the savings letters being in the name belong to it. Believer the protection border up to the 31st of December, 2014 amounts to a total of 30 percent of the sticking company capital deciding for the insert protection of the bank. Till December, 2019 the border lies at 20 percent, 15 percent are it up to the 31st of December, 2024 and from the 1st of January, 2025 the border lies at 8.75 percent.
The inserts which were extended from the 01st of January, 2012 or were justified are, independent of the time of the origin of the insert to secure after the respective new borders of the respective E-days. The inserts which were already justified before the 31st of December, 2011 are to be secured after the old protection borders. These are valid up to the maturity of the insert, or alternatively up to the nächstmöglichen date for giving notice.
Are not protected in this connection the demands about which from the bank owner’s papers were displayed. For example, liabilities count to it compared with credit institutes, owner’s insert certificates as well as bearer bonds. The bank points to other details on §6 of the statutes of the insert protection fund. Should the insert protection fund make payments to a customer, the demands go over against the bank, by the suitable height, in all rights on the insert protection fund.
The registration is easy and quick
To open with «Benk» a depot, one needs neither a lot of time nor vast amounts in experience. The registration is nearly selfexplicatory and can be dealt with at maximum 15 minutes. Only one form is to be filled out and to send directly on-line in «Benk». It is understandable that a bank must put sensitive questions while opening a bond depot. There it can be not only about the weather forecast, the bank needs information about your monthly income, about reserves, liabilities and several things more. These specifications pose generally no appreciable problem. One must also attack no thoughts whether these dates possibly get in wrong hands. Benk handles after our experience very sensitively with the dates, the queries follow about a secure connection, so that no unauthorized access to these dates can attain. After you could have filled out everything properly you the application allow to print out and verify yourselves with the bases as well as your identity card with the post in the Postident procedure. Some are surprised that a such procedure is required by them. Nevertheless, one may never disregard the security aspect which is not only for the bank, but also for their employees of great importance., Among the rest, beside many other deceitful activities it is prevented by this procedure that to itself somebody opens an account with your name and your address. Also one prevents in this manner, for example, depot openings of persons under age.
After the registration of the depot one should argue again with the prize structures and for the first time with the commercial platform from Benk. At least, one should know how the side is built up and how it functions, so that one can place his bets by hasty quits dealings in the shortest time. However, in the absence of demo account this was possible only in restricted extent. Nevertheless, at least, the depot was furnished within less days and was opened, so that only even the first insert must follow the first quits application.
Because «Benk» still a relatively blank sheet explains in the financial community, a moderate amount is recommended as the first insert, for example, in the three-place area. In this manner one can limit the financial risk at least appropriately. Because Benk, unfortunately, only transfers accept as payments in the depot, one should become quickly active relevant. The credit of the amount followed within 24 hours and this is dependent absolutely not only from «Benk», but also in strong measure on the respective company bank.
Our experiences with Benk show up to now that the customer’s money is invested in the German regulation and the insert protection by the insert protection fund, absolutely certainly and well.