Overall Consorsbank is a trustworthy and low-risk broker with an overall rating of 6 out of 10. Consorsbank is authorized and regulated by BaFin and offers leverage up to 1:50.
Consorsbank at a Glance
| 🔎 Broker's Name | Consorsbank |
| 📍 Headquartered | Nürnberg, Germany |
| 📅 Year Founded | 2014 |
| ⚖️ Regulating Authorities | BaFin |
| 🌐 Countries not accepted for trade | No information available on website. |
| ☪️ Islamic account (swap-free) | No |
| 👍 Demo Account | No |
| 📊 Institutional Accounts | No information available on website. |
| 📊 Managed Accounts | No information available on website. |
| 📈 Maximum Leverage | 1:50 |
| 💰 Minimum Deposit | No information available on website. |
| 💳 Deposit Options | No information available on website. |
| 💳 Withdrawal Options | Bank Wire Transfer, Credit Card, Neteller, Skrill (Moneybookers), Konnectivity, China UnionPay, and B2B Transfer. |
| 💻 Platform Types | Active Trader Active Trader Pro Future Trader Premium Trader |
| 📱 OS Compatibility | No information available on website. |
| 📈 Tradable assets offered | Shares, Bonds, CFDs, ETCs, ETFs, Funds, Futures, Options, and Warrants |
| 👨💼 Languages supported on Website | German |
| 👥 Customer Support Languages | German |
| 📆 Customer Service Hours | Mon-Sun: 07:00 to 22:30. |
| 🚀 Open an Account | 👉 Click Here |
Min Deposit
USD 0
Regulators
BaFin
Trading Platform
Active Trader, Active Trader Pro, Future Trader, Premium Trader
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Consorsbank Review – 22 key points quick overview:
Consorsbank Overview
According to research in South Africa Consorsbank was originally founded as the discount broker Consors in 1994. In 2002 Consors was taken over by the French BNP Paribas and acted as Cortal Consors until 2014 when it started trading as Consorsbank.
Today CONSORSBANK is part of BNP Paribas with its German headquarters in Nuremberg. Consorsbank offers comprehensive financial services and acts as an online broker.
Consorsbank is one of the leading direct banks in Europe and operating as an online broker too, it now serves more than 600 000 customers from Germany.
It is a market-maker-type broker that requires no deposit to open an account and offers variable spreads.
Consorsbank Safety and Security
One of the best benchmarks to measure the safety of a broker like Consorsbank is to establish which regulating authorities are watchdogs over its actions.
Consorsbank is subject to regulation from the Federal Financial Supervisory Authority (BaFin) and is a member of the compensation scheme of German banks and the deposit guarantee fund.
Customer deposits at Consorsbank are protected up to an amount of EUR 100 000 and through the German Deposit Protection Fund, customer deposits are secured with EUR 120 million per customer.
Consorsbank Leverage
Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.
Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate to 500:1.
Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin.
For example, on a 1% margin, a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal to or more than 100% to be able to open new trades, otherwise, your trading account will be fully hedged.
Consorsbank offers a maximum leverage ratio of 1:50.
Consorsbank Accounts
A forex account at Consorsbank is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.
Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith.
Often, the number and type of accounts that a trader can open with a broker company differ depending on the country in which it operates and the regulatory authorities under whose jurisdiction it falls.
Consorsbank does not offer a demo account.
Consorsbank offers CFD accounts and Foreign currency accounts.
The website does not give any more information regarding the type of accounts available and their possible features.
Min Deposit
USD 0
Regulators
BaFin
Trading Platform
Active Trader, Active Trader Pro, Future Trader, Premium Trader
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Consorsbank Market Instruments
The most popular market instruments available from most brokers for trading include:
Forex
Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.
Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.
Indices
Equity, or stock indices, are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.
Precious metals
The trading of gold and other precious metals, along with crude oil, copper, or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.
Energy
The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions and global economic growth.
Consorsbank offers the following financial instruments to trade:
Shares, Bonds, CFDs, ETCs, ETFs, Funds, Futures, Options, and Warrants.
Regarding the trading of futures and options, trading on the EUREX derivatives exchange is possible with the Consorsbank.
According to the Consorsbank margin, obligations are calculated in real-time. The company also claims that there is a dedicated EUREX support team for EUREX customer support.
Trading CFDs is possible as a customer of the Consorsbank. As a special feature, Consorsbankquotes CFD trading without the obligation to make additional contributions. There is also a demo account only for CFD trading, with maximum leverage that can be set up to 1:50.
Forex trading is not possible with Consorsbank.
CONSORSBANK investors can trade their funds on a stock exchange or directly with the capital investment company. Consorsbank offers around 4 500 funds with discounts of between 50 and 100% discount on the front-end load.
Consorsbank customers can also purchase changing offers without a front-end load, i.e. with a 100% discount on the premium.
Consorsbank Fees
Cost depends on different factors, like spread and margins, and Consorsbank clients may also experience different fee structures according to their country or place of residence.
The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move.
Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.
Regarding general fees, Consorsbank offers:
Free custody account or account management
Free order limits
Free partial executions (if executed on the same day)
Free orders
Cancellation
Free dividend payments (if applicable, minus third-party expenses)
When trading German shares, the Consorsbank charges the following fees:
Base commission of EUR 4.95
Plus 0.25% of the transaction volume (at least EUR 5.00, maximum EUR 69.00) plus a trading-based fee
Plus an offline processing fee of EUR 14.95 (for when placing an order by fax, phone, or letter)
When trading foreign shares, Consorsbank charges the following volume-based fees:
Fixed fee depending on the stock exchange.
Plus 0.25% of the transaction volume
Plus any applicable external fees (e.g. stamp duty, also known as stamp duty or certificate tax)
Plus an offline processing fee of 14.95 euros (when placing an order by fax, telephone, or letter)
When trading funds, Consorsbank customers receive up to a 100% discount on the front-end load. When trading on the stock exchanges, the fee is the same as when buying shares.
When trading warrants and certificates, the Consorsbank charges the same fees as when buying shares
Consorsbank Deposit and Withdrawal
Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ.
In the case of Consorsbank, the website does not give any information regarding minimum deposits required to open accounts, the methods that may be used to fund accounts or withdraw funds, or the process to perform either.
Consorsbank Trading Platforms
The forex trading platform provided by Consorsbank to its clients is in essence the software to carry out their trades. Some brokers provide only one, others quite a few platforms.
A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.
Consorsbank claims that its customers can choose between several trading platforms. Trading is possible both through the website itself and by means of the apps offered.
The website mentions Active Trader and Active Trader Pro as well as Future Trader and Premium Trader as stand-alone trading software.
The Active Trader is free and offers all the basics of trading software. The costs of the Pro version are graded according to customer status – a customer pays 119 euros per month and a CONSORSBANK “Star Trader” pays 39 euros per month. The software is free for Consorsbank “Platinum Stars”.
Customers can optionally choose an unlimited real-time push rate supply for all German stock exchanges.
The trading software is available as a demo version for the Premium Trader and the Future Trader fees are charged depending on customer status.
How to open a Consorsbank account step by step
Opening an account with Consorsbank is a relatively simple process, which will consist of the following steps:
Step 1 – Open Your Account
Visit the Consorsbank website, Click on “Open an Account” in the bottom right-hand corner of the website
Step 2 – Fill out the form
Similar to a bank, to register a forex trading account with Consorsbank for the first time, you will be required to go through a basic “know your customer” process, which will allow Consorsbank to ascertain your submitted details and ensure the safety of your funds and account details.
Min Deposit
USD 0
Regulators
BaFin
Trading Platform
Active Trader, Active Trader Pro, Future Trader, Premium Trader
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Consorsbank Customer Support
Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.
In the case of Consorsbank customers can reach the support team at the Consorsbank office address at Bahnhofstrasse 55, Nuremberg, or by post or email.
Investors can also find answers to general questions in a FAQ list on the website.
Consorsbank Education
Before starting to trade, potential clients of Consorsbank should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.
Consorsbank offers regular seminars and webinars for beginners and advanced free of charge.
Consorsbank Research
To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they don’t lose money unnecessarily and trade as profitably as possible.
There is no clear information regarding research resources on the Consorsbank website.
Consorsbank Awards
Being an awarded company instills extra confidence in traders. Consorsbank claims that it was awarded for best online banking and Germany’s best direct bank.
Min Deposit
USD 0
Regulators
BaFin
Trading Platform
Active Trader, Active Trader Pro, Future Trader, Premium Trader
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Consorsbank Current Popularity Trend
As According to Google Trends, here is an overview of how frequently the search term – “Consorsbank” is entered into Google’s search engine over a given period of time.
Consorsbank vs Etoro vs XM – Comparison Table
| 🔎 Broker | 🥇 Consorsbank | 🥈 eToro | 🥉 XM |
| 💰 Minimum Deposit | No information available on website. | $1000 USD | $5 USD |
| 📝 Sign-Up Bonus | ☑️ Yes | ☑️ Yes | ☑️ Yes |
| ➕ Max. Leverage | 1:50 | 1:400 | 1:888 |
| 💵 Currency Pairs | – | 47 | 57 |
| 🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
Consorsbank Best Countries by Traders
| 🌎 Country of Trade | 📌 % of Traders |
| 🥇Germany | 95.86% |
| 🥈Switzerland | 1.31% |
| 🥉Austria | 0.78% |
| 🥈Spain | 0.36% |
| 🥇Italy | 0.23% |
Consorsbank Customer Reviews
Very competent and fast…
Very competent and fast customer service.
Problems with the Secure Plus app were fixed over the phone within 2 minutes. Perfect!
I can’t believe the bad reviews…
I can’t understand the bad reviews. I’ve been a customer for many years, first DAB, then Consorsbank.
I am super satisfied with the selection of stock exchanges and financial instruments. Customer service was also always on the phone within a few seconds when I needed them.
Only the fees are not particularly aggressive. But you get a stable platform without hiccups.
Good service
Called customer service tonight as I couldn’t log in anymore. After about 5 minutes of waiting (despite 8.30 p.m. in the evening), he was on the phone, very nice, and was able to help me.
Consorsbank Pro and Cons
| ✔️ Pros | ❌ Cons |
| 1. Regulated by BaFin | 1. No demo account |
| 2. No deposit is required to open an account | 2. Website lacks a lot of important information |
| 3. Offers a fair range of products | 3. Order fees are volume-dependent |
| 4. Several trading platforms |
Conclusion
Overall, Consorsbank is a trustworthy and reliable broker that provides traders with ample digital tools. Consorsbank claims that its customers can choose between several trading platforms. Consorsbank has a Maximum Leverage of 1:50.
Disclaimer
Consorsbank warns potential customers that Forex and CFD trading always carries a high risk and may not be suitable for all investors.
Before deciding to trade with Consorsbank, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.
Consorsbank warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence Consorsbank cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.
Risk Management
Consorsbank is a German online bank and a subsidiary of BNP Paribas. The bank provides a range of financial services, including wealth management and risk management. In terms of risk management, Consorsbank offers investment solutions that balance risk and return, such as index funds and actively managed portfolios.
The bank’s risk management approach is centered around protecting the interests of its clients and ensuring the stability of its operations. This is achieved through ongoing monitoring and assessment of market risks, implementation of effective internal controls, and adherence to industry regulations and best practices.
Frequently Asked Questions
Is Consorsbank a fake or a scam?
Our Review of Consorsbank reveals that this broker is not a scam as it is subject to the strict regulation of BaFin in Germany and is a member of the Compensation scheme of German banks.
Which instruments can I trade with Consorsbank?
Shares, Bonds, CFDs, ETCs, ETFs, Funds, Futures, Options, and Warrants.
Does Consorsbank offer leverage?
Yes, maximum leverage of 1:50 is offered.
Is Consorsbank a recommended forex trading broker for experts and beginners?
Consorsbank offers a fair trading environment for all types of traders.
What is the overall rating out of 10 for Consorsbank?
6/10
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