ABN AMRO Review

ABM AMRO is one of the three biggest banks in the Netherlands, with nearly 7 million clients and 20,000 employees. The bank has been active in the investment field for many years and has options for small and large portfolios.

The bank focuses on Asset Management for clients who want to outsource their assets. Clients can invest in Asset Management from €50,000 with a selection of 3 different mandates (portfolios), including personal advice.

From as little as €20, clients can also opt for Guided Investing and can choose between six ABN AMRO Profile Funds with the support of online tools. Clients can trade via the Self Investing Basic or Self Investing Plus Account.

The plus account is ideal for investors who trade actively and seek substantial (price) information and analysis tools.

Pros and cons 

ABN AMRO has a well-designed trading platform built for both beginner and advanced investors. The research service is also quite decent, with its elite research team continuously coming up with new trading ideas.

A broad range of funds is available and is suitable for fund investing or investing in Dutch shares.

The lack of trading and analysis options makes the trading platform improbable for day trading and the product range is also limited.

  • Outstanding trading platform
  • Very suitable for fund investing or investing in Dutch shares
  • Wide product portfolio
  • Available mostly in Dutch
  • Lacks live chat and 24/7 availability

Main features

Country of regulation

Netherlands

Trading cost class

Average

Products offered

Stocks, ETFs, Funds

Minimum deposit

€50

Deposit with bank card

Available

Depositing with electronic wallet

Available

Time to open an account

1 day

Number of base currencies supported

1

Demo account provided

Yes

Fees

In the sections below, you will find the most relevant costs of ABN AMRO for each asset class.

  • Great Research
  • Decent product portfolio
  • No inactivity fee
  • Cannot trade in options
  • Do not lend securities
ABN AMRO costs
Basic Payment Package
Monthly cost                       € 1.70 per month
1 Current account                       € 0 per month
1 Debit card                       € 0 per month
Online banking                       € 0 per month
ABN AMRO costs
Student Package
Monthly cost                               €0 per month
1 Student account                               €0 per month
1 Debit card                               €0 per month
Online banking                               €0 per month
Student Credit Card                               €1.16 per month
Stand By Service                               €1 per month
Student insurance                               €3.53 per month
ABN AMRO costs
Youth growth account
Account opening cost                     €0
Monthly cost                     €0
1 Current account                     €0 per month
1 Debit card                     €0 per month
ABN AMRO costs
Current account
Account opening cost                     €0
1st current account                     €1.94 per month
Extra current account                     €1.40 per month
ABN AMRO costs
Personal Foreign Account
Account opening cost                     €0
Monthly cost                     €5 per month
ABN AMRO costs
(Digital) debit cards
1st debit card   €1.58 per month
Extra debit card   €1.40 per month
Digital debit card wearables and Apple Pay   €0 per month
Savings card   €0 per month
Replacement debit card for a card due to expire   €0
Replacement debit card for a lost or stolen card   €7.50
ABN AMRO costs
Credit Card
Credit Card                                                 €1.70 per month
Additional Credit Card                                                 €1.00 per month
Gold Card                                                 €3.90 per month
Additional Gold Card                                                 €2.00 per month
ABN AMRO costs
Stand-By Service
Monthly cost                                                 €1.50 per month
With Student Package                                                 €1.00 per month
ABN AMRO costs
Account Statements
Monthy €0.60
Two-weekly €1.30 per month
Weekly €2.60 per month
Daily €7.50 per month
Statement copy €5.50 per document per account statement
Annual Financial Summary copy €5.50 per copy
Monthly copy €0.60 per month
Two-weekly copy €1.30 per month
Weekly copy €2.60 per month
Daily copy €7.50 per month
Credit card statement copy (one-off) €5.50 per document per statement
ABN AMRO costs
No longer available: EasyPay Standard
Cost for taking out package €0
Monthly cost €1.55 per month
Current account €0 per month
Debit card €0 per month
2nd, 3rd, 4th and 5th debit card €1.58 per month
Stand-By Service €1.50 per month
Apple Pay €0
ABN AMRO costs
No longer available: EasyPay Extra
Cost for taking out package €0
Monthly cost €3.40 per month
6 current accounts €0 per month
Debit card €0 per month
2nd debit card €0.60 per month
3rd, 4th and 5th debit card 50% discount on an additional debit card (you pay €0.79 per month)
Stand-By Service €1 per month
Discount on foreign currency payments abroad You only pay an exchange rate margin. 
ABN AMRO costs
No longer available: EasyPay Max
Cost for taking out package €0
Monthly cost €6.25 per month
6 current accounts €0 per month
Interest on 1 current account  0.00%
2 debit cards €0 per month
2 Gold Cards  €0 per month
3rd, 4th and 5th debit card 50% discount on an additional debit card (€0.79 per month)
3rd, 4th and 5th Gold Card 50% discount on each Gold Card (€2.30 a month)
Stand-By Service €0 per month
Discount on foreign currency payments abroad You only pay an exchange rate margin.

Account Opening

The account opening process is entirely online and only takes 10-15 minutes. It is easy-to-use and, available in most European countries. The minimum deposit to open an account is high, and account authentication may take up to 3 (three) working days.

Clients from all over the world are accepted, apart from some exceptions.  Residents of the US, Iran, Cuba, Sudan, Syria, or North Korea cannot open an account.

  • Fully online
  • Easy-to-use
  • Available in most European countries
  • Lowest deposit is costly in certain countries

Account types

 

ABN AMRO provides four account types for the Dutch residents (account types may differ in other countries):

Individual

Open a bank account in the Netherlands

Joint

A joint account with 2 (two) debit cards 

Child

A free savings account for a dependent

Additional

Any additional accounts apply

How to access your account

Online application

Approval process 

Funding

Deposit and withdrawal

Deposit fees are costly.  To deposit funds, you can make a bank transfer or pay by credit card.
Electronic wallets are not currently available.

There are no withdrawal fees.  Withdrawals can only be done through bank transfer, similar to its competitors.
The process takes approximately 1 (one) business day.

*Note:  You can only make deposits and withdrawals from and to accounts that are in your name.

Web trading platform

Web Trading Platform

The Self-Investing Basic trading platform is suitable for investors looking for convenience and who want everything under one umbrella.

The product range might seem limited, but a lot of information is available for funds and shares to make proper investment choices.

A combination of free trading in investment funds and sufficient information makes Self-Investment Basic an ideal option for fund investors and investors in Dutch equities.

Zelf Beleggen Plus offers more trading and analysis options.

Mobile trading platform

The mobile platform has the same ‘look’ and ‘feel’ as the web platform and has iOS and Android versions.

It is available in the same languages and offers the same features, order types, and alerts as the web trading platform. It also offers two-step verification.

The modern design is appealing to the eye. However, the platform’s user interface needs improvement as the menu structure may sometimes be confusing when searching for something.

Desktop trading platform

Desktop trading is not available.

Markets and Products

Countries

Exchanges

Asset Classes

Stocks and ETFs

Clients have access to a broad range of stock – and Dutch stock markets. Trading is available on major markets such as US stock exchanges or Deutsche Börse, and on smaller markets such as the Prague Stock Exchange, or the Warsaw Stock Exchange.

Futures

Similarly to options, a lot of futures markets are covered.

Trade futures on the following underlying asset types are available: commodity, stock, index, bond and currency.

Funds

Mutual funds were only recently added to the product portfolio.

The available amount of mutual funds lags behind competitors, especially Swissquote.

 

Options

Various options are available.  Trading is possible on major stock exchanges such as the CBOE or Euronext and lesser-known stocks such as the SEHK.

You can trade options on stock, forex and contracts.

Research

Trading Opportunities

Products: The total product range consists of 270 shares of the AEX, AMX, AScX, Stoxx Europe 50 and the S&P 100. In addition, 69 ETFs and 200 investment funds.

Number of exchanges: Limited range spread over approximately 10 exchanges, consisting of the Netherlands, the US and other exchanges where the shares of the Stoxx Europe 50 are listed.

Order entry: The order form is simple but not extensive. You see one bid and ask price for stocks and ETFs. Prices of Euronext Amsterdam are real-time, other prices are delayed by 15 minutes. Investment funds are book-entry funds.

Fundamental data

Fundamental opinions can be found on the ABN AMRO website. For each selected share you can find an overview with a number of key data, valuations and opinion. 

A limited number of fundamental data is available, such as P / E, EPS and market capitalization. 

Unique is that for each share a sustainability indicator and weak points and risks are included. An extensive fact sheet can also be downloaded for each share. Keep in mind that the information is not always up to date.

Charting

The interactive chart feature is a great tool and easy-to-use. 

You will find 50 technical signs and can apply multiple editing tools, such as trendlines or Fibonacci tools.

There is a also trading signal tool, which grants you the buy or sell signal based on technical indicators. 

News feed

A news feed is available on ABN AMRO’s trading platforms. A minor setback is  that you cannot filter news by assets. 

Other research tools


Education:
  Yes, through the online investor academy. 

Portfolio: You manage your portfolio in your portfolio overview. 

Trading platform: Investment is linked directly to your cheque account. Trade is available via the web trader.

Mobile investing:
 Via Mobile Banking.

Other: No transaction costs for investment funds.

Customer Support

Customer support is available in multiple languages, with sufficient phone and email support despite minor issues. Disadvantages include the lack of live chat and 24/7 availability.

A chat box is available, similar to an intelligent FAQ.  It provides answers to basic questions but cannot solve queries.

Email responses may take up to 1 (one) working day, and customer support via phone is available from Monday to Friday between 9:00 am and 5:30 pm local time in 16 offices globally.

Bottom line

ABN AMRO is a great broker that provides comprehensive and quality service.  It offers an easy-to-use and well-structured trading platform backed by outstanding research.  Overall, ABN AMRO is one of the best online brokerage firms for beginner investors and offers decent service meeting most client requirements.

Drawbacks include high fees, especially for deposits in certain countries, and no live chat or 24/7 customer service is available.