Openbank review

The account fee is €0 and the currency conversion fee is 0%, so holding the account costs nothing. Each stock trade costs €1, and moving money in and out is free transfers. Openbank runs a low-fees pricing model, with the charge falling on each deal.

The broker is regulated by Comision Nacional del Mercado de Valores (CNMV), and the legal entity behind the platform is OPEN BANK S.A.. Deposits are covered by EU ICS up to EUR 20,000, which sets the ceiling on what the scheme pays on a claim. The crypto side of the business runs under its own licence, MiCA CASP 5493000LM0MZ4JPMGM90, so crypto holdings sit under a separate registration.

Management fees run 0.42% to 1.03% on the robo-advisor portfolios, and the minimum investment is €500. Portfolios are built around an ESG tilt, and the cheapest robo fees among the advisers compared here start near 0.07%. The same platform lets you hold your own shares if you want to stop using the adviser.

The investment account covers stocks, etfs and funds. Fractional shares and a mobile app are both listed under crypto, fractional shares and mobile app, so a position can be built in smaller amounts and the account managed away from a desk. Crypto sits in the same account as the traditional asset classes.

Deposits and withdrawals are free transfers, and cash left in the account earns 2.75%. The platform is available as Web and App, so the same login covers moving money and placing trades. Help is thin elsewhere, so phone support matters if this is your main account.

Across the brokers compared here, the typical share of retail accounts that lose money is 72.03%. That is a sector figure rather than Openbank's own result, and it is the clearest argument for holding a diversified portfolio and following a written plan.

It suits investors who want a Spanish, low-cost account for shares, ETFs, funds, bonds and crypto, and who are comfortable dealing on their own. Cash pays 2.75% while it waits, and the robo-advisor runs alongside for anyone who would rather hand over the portfolio. Support runs on phone.