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  #21  
Old 23.11.2013, 10:44
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Re: Low Cost Broker with no Regular/Custody Fees

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How do you know that they use interbank rates, do you have some sort of proof from them...
What "proof" do you want? You could just compare it at the time of FX yourself. But a spread of a pip or so should be "proof" in itself?

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I ask this because I do FX deal with UBS every month (CHF/GBP) and I know their rates are not the best but at least it's more secure than a broker (correct me if I'm wrong) and easy to control the flows of cash as I have CHF and GBP account and send the cash to UK from the GBP account.
Doing this through UBS, you probably lose somewhere between 3 and 5 percent every month.

Even UBS or your UK-bank could fail, which is a risk that you bear permanently. With a broker I´d just ask myself: How likely is it that the broker, which might well have already been there for a few years, goes belly-up exactly in those two days that your funds are with them...

With UBS, however, it´s 100% certain they take their (not-so-fair) share each time you transact.

Why not try one of the "consumer" brokers (currencyfair and/or transferwise) once, or even try out IB. I´m sure you´ll love the result, and your eyes will water seeing how much you wasted in the past.

Rgds, Christian
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  #22  
Old 26.11.2013, 12:38
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Re: Low Cost Broker with no Regular/Custody Fees

I guess I read it here about Lynx Broker but now I can't find the post. Lynx Broker is an offshoot of Interactive Brokers and it was said no $10 a month minimum fee but maybe it seems higher per trade fees?

http://www.lynx.nl/
http://www.lynxbroker.de/
http://www.lynx.be/
I'm not sure which is the original if that matters. You can trade on IBs English platform, though.

For which trading profiles one is better than the other? My profile is something like this: http://joshkaufman.net/permanent-portfolio/
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  #23  
Old 26.11.2013, 12:44
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Re: Low Cost Broker with no Regular/Custody Fees

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There are plenty of good, blue chip companies that constantly grow their earnings, increase dividends, etc. I keep a list of my favorite stocks and track their price movement. I usually spend about 150-200$ per company and dollar cost average into them. That way, if for example I bought some Coke at $43 and the fair price is $35, I wont be hurt too bad that I overpaid if I only bought 4 shares. I also don't lose sleep tracking the movements every day. Since I am a long term investor, the dividends and the long term growth of the company will get me more than even.
Please share your list. I'm a day trader, but "offline" invest in safe, dividend growth firms. Use seekingalpha.com as a source of inspiration.
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  #24  
Old 26.11.2013, 12:48
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Re: Low Cost Broker with no Regular/Custody Fees

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Please share your list. I'm a day trader, but "offline" invest in safe, dividend growth firms. Use seekingalpha.com as a source of inspiration.
You do realise any profits will be added to your income at your highest marginal rate if your day trading. If your an investor capital gains are free of tax in CH.
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  #25  
Old 26.11.2013, 13:31
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Re: Low Cost Broker with no Regular/Custody Fees

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You do realise any profits will be added to your income at your highest marginal rate if your day trading. If your an investor capital gains are free of tax in CH.
I have offshore accounts for this and a solid legal structure to protect it.
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  #26  
Old 26.11.2013, 16:42
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Re: Low Cost Broker with no Regular/Custody Fees

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Please share your list. I'm a day trader, but "offline" invest in safe, dividend growth firms. Use seekingalpha.com as a source of inspiration.
I'm just guessing but from his description he probably has a self-selection of blue chips companies that pay high dividends.

As you are using seekingalpha
http://seekingalpha.com/instablog/41...growth-history

There are other similar lists with more relaxed criteria (Dividend Aristocrats, Dividend Champions) which will have more than 15 companies, and then you just pick some out according to additional criteria like personal bias.

I personally prefer to go with a few well chosen ETFs than several mini positions, but I'm not with IB which has very low transaction rates.
Liquidating so many mini-positions has to be very annoying if you ever want to, ETFs certainly give you less control and have management fees (they are usually low but are there).
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  #27  
Old 26.11.2013, 16:47
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Re: Low Cost Broker with no Regular/Custody Fees

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I personally prefer to go with a few well chosen ETFs than several mini positions, but I'm not with IB which has very low transaction rates.
Liquidating so many mini-positions has to be very annoying if you ever want to, ETFs certainly give you less control and have management fees (they are usually low but are there).
I had a low cost broker in Jersey that had a fixed fee of £12, they got taken over & the fees went to 1.8% fir the first £10k with a minimum of £50. Just because your broker's fees are low today, does not mean they will always be.
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  #28  
Old 26.11.2013, 17:06
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Re: Low Cost Broker with no Regular/Custody Fees

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Is there an easy way to describe IB´s fees especially for low-volume traders?

I know they can be looked up on their website, but I´m looking for all the hidden crap which you only find out after already being a customer, i.e. from experience.

Also, do they happen to offer a US$ CreditCard, or is it purely trading?

Last but not least, how are funds moved in and out?

Thanks for any possible input
I don't have an IB account, I decided against it due to the minimum of 120 a year. They charge you 10 a month regardless - if you do trades costing 10 or more, they don't charge on top of it, and if you trade a bit that month they top the expenses up to 10. It is a very good deal for active traders, and I guess for the not so common (I think) type of buy and hold that Kiwiguy does with lots of mini positions and frequent transfers from CHF/EUR to USD it may also be better than other options.

Unlike Kiwi, I don't intend to make frequent reinvestments - possibly once a year in one ETF? So the 120 a year made me opt instead for TD Ameritrade / Schwab (those two are pretty similar in fee structure, as far as I can see). It will cost me like 10 USD for the one order a year, plus whatever I lose with a slightly less favorable exchange rate. If your exchange rate is off by 0.01 from the one offered by IB, sending 10k will already cost you the extra 100; but if you can get something a bit closer to whatever IB has, say 0.001, then IB would only be worth it if you were sending 100k per year (I wish ). Are the rates from currencyfair, xe and oanda that much worse than IB?
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  #29  
Old 26.11.2013, 17:23
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Re: Low Cost Broker with no Regular/Custody Fees

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Are the rates from currencyfair, xe and oanda that much worse than IB?
They are much much worse. But IB is not an account you should open just to transfer money. It's like buying an F1 car to drop the kids off at school.
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  #30  
Old 26.11.2013, 17:34
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Re: Low Cost Broker with no Regular/Custody Fees

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They are much much worse. But IB is not an account you should open just to transfer money. It's like buying an F1 car to drop the kids off at school.
The oanda dudes claim their rates are visible without opening an account (I read somewhere that the xe that are shown are not the ones offered), and for the EUR/USD pair they show a spread of about 10 of their lowest shown decimal places apart.
E.g. right now they have 1.35427 / 1.35439, a spread of 0.00012 (they have their smallest decimal place a bit different).
For values lower than 100k, that kind of spread gives a difference of about 10 USD or 10 Euros. Either I am misunderstanding something (and Oanda is BSing about their rates), or IB can't be that much better, unless you are trading very large amounts. Can someone give me a quote from IB for me to sample (if you prefer not to post it in the open, I don't mind getting a PM).
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  #31  
Old 30.11.2013, 14:32
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Re: Low Cost Broker with no Regular/Custody Fees

Slightly related (I searched for the keywords regarding pension but it looked like a minefield - this is a safe place here compared to that):

Assuming finally you have found your ideal low cost broker for investments, not for trading. How do you legally contribute to your pension nest egg tax deferred as a self employed EU passport holder - country of residence can be varied.

Assuming you know what you are doing with your money.
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  #32  
Old 01.01.2014, 17:14
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Re: Low Cost Broker with no Regular/Custody Fees

Interactive Brokers have various affiliates:

https://www.interactivebrokers.com/e...eposits&p=mins

Even in Switzerland. Lynx Broker in the Netherlands is also quite popular. Thoughts, experiences?
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  #33  
Old 01.01.2014, 17:22
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Re: Low Cost Broker with no Regular/Custody Fees

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...regarding Swiss brokers they tend to be more expensive overall, but there are exceptions.
Best trading comparison (and the only one, I think) can be found on the finance portal Moneyland, there you even can put in your individual trading profile --> cost differences are big, thus comparing is worth it.
Interesting too. I put in

User profile: US equities: it came out: CornerTrade is the cheapest option. Do you have info on this broker? I have found no info on this forum.

Do you have a breakdown on how the CHF 720 came out? Default settings.
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  #34  
Old 07.01.2014, 15:20
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Re: Low Cost Broker with no Regular/Custody Fees

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User profile: US equities: it came out: CornerTrade is the cheapest option. Do you have info on this broker? I have found no info on this forum.
CornerTrader, to be correct. CornèrTrader, indeed. Just for Google to find my post.

Any experience or opinion on them? If I understand they may be even cheaper than Interactive Brokers.

https://www.cornertrader.ch/en/accounts/commissions/
Head down to US equities (at least for my interest).
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  #35  
Old 11.01.2014, 00:04
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Re: Low Cost Broker with no Regular/Custody Fees

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CornerTrader, to be correct. CornèrTrader, indeed. Just for Google to find my post.

Any experience or opinion on them? If I understand they may be even cheaper than Interactive Brokers.

https://www.cornertrader.ch/en/accounts/commissions/
Head down to US equities (at least for my interest).
Anyways, countries not accepted to open a trading account with CornerTrader include (not mentioning developing countries):
  • Austria
  • Australia
  • Canada
  • Italy
  • Japan
  • Spain
  • UK
  • USA
Logic? Pattern?
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  #36  
Old 13.01.2014, 21:47
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Re: Low Cost Broker with no Regular/Custody Fees

I am seriously considering to open an account with IB to execute a recurrent monthly savings investment in a self customized balanced portfolio. The BIG question is :

- what it the applicable taxation for long term capital gains for a Swiss resident investing via IB?

Thanks for your advice
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  #37  
Old 13.01.2014, 21:50
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Re: Low Cost Broker with no Regular/Custody Fees

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I am seriously considering to open an account with IB to execute a recurrent monthly savings investment in a self customized balanced portfolio. The BIG question is :

- what it the applicable taxation for long term capital gains for a Swiss resident investing via IB?

Thanks for your advice
Swiss residents have ZERO capital gains liability long or short term so a 1B is probably a waste of time for a Swiss resident without further tax liabilities in another jurisdiction (USA ?)
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  #38  
Old 19.01.2014, 17:25
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Re: Low Cost Broker with no Regular/Custody Fees

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Swiss residents have ZERO capital gains liability long or short term so a 1B is probably a waste of time for a Swiss resident without further tax liabilities in another jurisdiction (USA ?)
Can anyone share their experience of opening an IB account from Switzerland? The more I search about broker, the more confused I become. IB seems not really user friendly and Postfinance Depot also seems expensive.

Any complete beginner of stocks here who has gone through the process of researching about broker here in Switzerland and could vouch for IB at the end?
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  #39  
Old 19.01.2014, 19:56
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Re: Low Cost Broker with no Regular/Custody Fees

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Can anyone share their experience of opening an IB account from Switzerland? The more I search about broker, the more confused I become. IB seems not really user friendly and Postfinance Depot also seems expensive.

Any complete beginner of stocks here who has gone through the process of researching about broker here in Switzerland and could vouch for IB at the end?
I opened a IB account as a swiss resident and had no problems. All messages are received in german and english. The process to open an account takes a lot of pages but is still easier than going to a bank and opening one
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  #40  
Old 19.04.2014, 19:55
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Re: Low Cost Broker with no Regular/Custody Fees

Interactive Brokers or CornerTrade?

Pros, cons, experiences?
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