Frequently Asked Questions (FAQs)
First steps
What documents do I need to open an account?
The required documents will be automatically completed by our system using the data you provided during onboarding and sent to Baader Bank after you successfully complete the POSTIDENT process. You will receive a confirmation email with the completed documents attached.
How long does it take to open an account?
In most cases, account opening can be completed within a very short time, provided all the required information is available. However, in some cases, this may take several business days. The information required includes your address details, bank details, and, if applicable, your tax identification number (Tax ID), as well as your identity card or passport.
What security measures should be taken when creating a password?
When creating your password, make sure you choose a strong and unique password that’s difficult to guess. Avoid simple words or number sequences and instead use a combination of uppercase and lowercase letters, numbers, and special characters. You should also change your password regularly and never share it with others.
Why do I have to state my experience and knowledge?
Disclosure of your investment experience is part of the regulatory requirements. This ensures that you understand the risks associated with investing in various financial products. This helps ensure that you can make appropriate decisions and that the products offered meet your needs and risk tolerance.
Can I continue registration later?
Yes, you can continue your registration at any time. If the process is interrupted for any reason, you can simply log in again and continue the registration process from the last saved location. Please note that we are legally obligated to delete the data of users whose registration is not completed within six months.
Why can't I find my place of residence in the country selection?
We currently only support the countries of the European Monetary Union.
Why can't I find my country of tax residence?
We currently only support the countries of the European Monetary Union.
How does identification work?
Identification is carried out using the POSTIDENT process (eID, in person, or via video), which verifies your provided identification documents and relevant information. This process ensures that we can reliably and securely confirm your identity.
What options are available to me to identify myself?
The identification process is completed by verifying your personal information during the onboarding process and completing the POSTIDENT process. With Deutsche Post’s POSTIDENT process, you can choose between online identification via video chat, personal identification at a branch, or mobile identification with eID. Both your ID card and passport can be used as identification documents.
What can I do if there are problems with identification?
If you experience any issues with your identification, please contact our support team via email (support@mymarkets.com). We will assist you in completing the identification process.
Is it possible to open an account under 18 with parental consent?
We currently do not offer accounts for minors. We also do not accept parental authorizations.
Is it possible to open an account for a legal entity?
We do not currently offer business accounts.
Can I open a joint account?
No, opening a joint account is not currently possible.
What can I do if I get stuck opening an account?
If you encounter any issues opening an account, please contact our support team (support@mymarkets.com). We will assist you in completing the registration process.
Costs and fees
Are there custody fees?
At MyMarkets, you don’t pay any custody fees. Storing your securities in a securities account is therefore free of charge. The current fees can be found in the applicable Price List, which is available via your account inbox or on our website.
Are there any costs for placing, canceling or deleting orders?
MyMarkets does not charge any additional fees for placing, canceling, or deleting orders. Order execution fees are included in your purchasing power when you place an order. If you cancel an order, your purchasing power will be adjusted by the previously considered fees. The current order execution fees can be found in the applicable Price List, which is available via your account inbox or on our website.
How much does it cost to open a securities account?
Opening a securities account at MyMarkets is free of charge.
Are there fees for order execution?
Transaction fees vary depending on the selected stock exchange, security type, and, if applicable, issuer. Our current price and service list provides an overview.
What fees are charged for a dividend credit?
Dividend credits are free of charge at MyMarkets.
What costs are incurred with a securities savings plan?
We do not currently offer any savings plans.
Are there any costs for currency conversions?
We do not currently offer foreign currency accounts.
How are dividend taxes treated?
Dividends are subject to a flat-rate withholding tax of 25 percent, plus the solidarity surcharge and, if applicable, church tax. However, these taxes only apply if the dividends, combined with other capital gains, exceed the tax-free allowance of €1,000 (or €2,000 for joint taxpayers). Please contact a tax advisor for more detailed information and an individual assessment.
In the user portal, you have the option of depositing your tax allowance in full or in part into your account with us.
Are there any costs for purchasing real-time prices?
Real-time prices from the gettex exchange are available at MyMarkets. Additional costs for real-time prices apply when booking the Premium (XETRA L1 data in real time) and Professional (XETRA L2 data) data packages.
Deposits and withdrawals
How can I deposit money into my MyMarkets account?
Information such as the IBAN or BIC for depositing funds into your MyMarkets account can be found in the user portal under Payments → Transfer. Please note that you can only transfer funds to MyMarkets from the reference account you have provided to us. Deposited amounts are generally available in your MyMarkets account within 1-2 banking days.
Which payment methods are accepted?
We currently only accept deposits via SEPA transfer from your registered reference account.
Are there deposit fees?
MyMarkets does not charge any deposit fees.
How can I transfer money from my MyMarkets account?
You can transfer money to your reference account at any time using the withdrawal function in the user portal under Payments → Withdrawal. The amount will usually be credited to your reference account within 1-2 banking days.
Is there a minimum deposit amount?
There is no minimum deposit amount at MyMarkets.
Can I transfer my portfolio to or from MyMarkets?
We currently do not offer account transfers.
How long does it take for a deposit to be credited to my MyMarkets account?
Deposited amounts are usually available within 1-2 banking days.
Are there any restrictions on deposit and withdrawal amounts?
MyMarkets has no limits on deposit amounts. You can freely choose how much you want to deposit.
Regarding withdrawal amounts, there is no set maximum withdrawal amount. However, we must adhere to certain guidelines under anti-money laundering regulations. According to anti-money laundering regulations, withdrawals above a certain amount may be subject to additional verification. This is to ensure that all transactions comply with legal requirements and help prevent illegal activities. Therefore, in some cases, it may be necessary to provide additional information or take further steps to process withdrawals of certain amounts. Our Compliance Department will assist you in such cases and inform you of the necessary steps.
What security measures should be observed when transferring funds?
Please observe the general security measures that apply when transferring funds in Germany. These include, among other things, using secure online banking platforms, regularly checking your bank statements for suspicious transactions, and carefully managing your access credentials, such as passwords and PIN codes. If you have specific questions about money transfer security precautions, our support staff will be happy to assist you.
Which currencies are accepted for deposits and withdrawals?
Since we do not currently hold any foreign currency accounts, we currently only offer deposits and withdrawals in euros.
How can I change my contact information?
You can view and edit your contact information in the user portal. However, for security reasons, selected personal data can only be changed with two-factor authentication (2FA) enabled.
How do I change my password?
To change your password, you can request a password change link in the User Portal under the “Security” section.
How do I enable two-factor authentication?
Two-factor authentication (2FA) can be enabled and disabled in the User Portal under the “Security” section.
Which data can only be changed with 2FA if 2FA is enabled?
If two-factor authentication (2FA) is enabled, the following data can only be changed using 2FA:
- Address
- Mobile number
- Email address (must be additionally verified)
- IBAN
Note: The email address and phone number must also be verified via the respective channel. All other changes are made via 2FA.
How can I close my MyMarkets account?
Closing your MyMarkets account is only possible through customer support. Please contact our support team via email (support@mymarkets.com) to initiate the closure process.
Do I have to provide my tax ID?
For German citizens, Baader Bank automatically requests their personal tax identification number (Tax ID), so no separate information is required. However, for all other citizens, providing their tax ID is mandatory during registration.
Do you offer a mobile app for account management?
No, we do not currently offer a mobile app for using our services.
Can I lock/deactivate my account myself if I suspect a security issue? How can I unlock/reactivate it?
MyMarkets currently does not offer the option to independently suspend or deactivate your account if you suspect a security issue. However, if you suspect a security issue, we recommend contacting our support team (support@mymarkets.com) immediately so we can investigate the situation and take appropriate action.
It’s important to emphasize that the security level on your settlement account is particularly high, as it is regulated by the bank. Your reference account serves as a security anchor for all transactions and transfers.
Our security concept includes multiple protection mechanisms, including encryption technologies, regular security audits, and compliance with strict security standards. We do our best to ensure and continuously improve the security of our platform and our customers’ data.
Invoicing
When and how do I receive my invoice?
After making a payment, you will find invoices in your inbox in the User Portal. Delays may occur due to technical limitations. If you are missing an invoice, please contact our support team (support@mymarkets.com).
Why don't I see the settlement for a trade in my inbox?
Securities statements are usually made available within 1-2 banking days.
What is sales tax and how is it calculated?
Some of our services are subject to German VAT. VAT, if applicable, will be shown separately on your invoice.
Can I change my monthly software subscription to an annual one?
No, this is possible. However, such a change is planned for the future.
Can I customize my invoice to add a VAT ID?
No, unfortunately that is not possible.
I haven't received an invoice – what should I do?
Please contact our support team under Settings → Help & Support or by email at support@mymarkets.com.
Why doesn't the amount on my bill match the amount debited?
Please contact our support team under Settings → Help & Support or by email at support@mymarkets.com.
How do I complain about an incorrect invoice?
Please contact our support team under Settings → Help & Support or by email at support@mymarkets.com.
Is there a way to re-download old invoices?
Yes, these will remain in your mailbox until further notice.
Can I change the billing currency?
No.
Why do I see separate items for order fees and exchange fees?
Order fees and trading venue fees are shown separately because they serve different purposes:
- Order fees: These are fees charged by the broker for the use of its services, such as providing the platform or executing trades.
- Trading venue fees: These are charged directly by the exchange or other trading venues and cover the costs of the infrastructure and operation of the marketplace.
The separate disclosure ensures transparency so that you can understand exactly what the individual fees are being charged for.
The costs for a trade are higher than expected, why is this?
The total cost of a trade is made up of various factors. For example:
- Choice of trading venue (e.g. higher fees on certain markets such as Xetra)
- Order fees for executing the order with your broker
- Additional costs for special order types or services
If the fees are unclear, please contact us using the support contact form so we can check the details.
How do I complain about incorrect fees?
If you believe you have been charged incorrect fees, you can submit a claim using the support contact form. Please provide the following information:
- Affected transaction (e.g. date and time)
- Description of the error
Our support team will review your request and get back to you as soon as possible.
Investment and Portfolio
What is the minimum amount for a trade?
There is no set minimum amount to trade at MyMarkets.
What types of orders can I place?
You can place market, limit, stop market and stop limit orders.
What is the difference between limit and market orders?
With a market order, the stock is bought or sold at the current market price, while with a limit order, a specific price is specified at which the stock should be bought or sold.
Can I short stocks in MyMarkets?
Shorting is currently not possible.
What risks are associated with trading?
Trading involves various risks, including market risk, liquidity risk, volatility risk, and business risk. It is important to be aware of these risks and take appropriate steps to minimize them.
Can I trade on public holidays?
Trading is not possible on public holidays.
Is there a way to view my trading history?
You can view your trading history in the Order Archive module. The order archive lists all inactive orders up to the last trading day.
Trade and Products
On which stock exchanges can I trade?
You can currently trade on the gettex and Xetra stock exchanges at MyMarkets.
How do I export my trading history?
It is currently not possible to export your trading history.
Risk Management and Trading Strategy
How do I receive notifications about price movements?
You can easily set up notifications about price movements by configuring alerts in the Alert widget or in modules such as ProChart.
Is it possible to implement automated trading strategies?
No, it is currently not possible to implement automated trading strategies.
Support and Security
How can I receive information about planned maintenance or system outages?
You will receive information about planned maintenance work or system outages via email or in-app notifications.
How do I report technical problems?
You can contact customer support via the contact form under Settings → Help & Support, by email at support@mymarkets.com, or by phone in urgent cases.
Other
How can I better understand the tax implications of transactions?
To better understand the tax implications of transactions, we recommend consulting a tax advisor.
Do you offer training or webinars for beginners?
You can find numerous training materials on our YouTube channel: https://www.youtube.com/@mymarketsdotcom
Are demo accounts offered?
Yes, you can test MyMarkets by creating an account (email and password) and verifying your phone number, after which you can test the platform in demo mode.
Can I set up a power of attorney for my portfolio?
No, it is currently not possible to set up a power of attorney for your portfolio.
What happens if the deposit holder dies?
In the event of the death of the depository holder, please contact our support team.
What are the system requirements?
What are the system requirements?
Minimum system requirements | Connection bandwidth: 1 Mbps; |
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Recommended system requirements | Connection bandwidth: 8 Mbps; |
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Optimal system requirements | Connection bandwidth: 16 Mbps; |
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Browser requirements | Browser: Latest version of:
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