Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation
Reply
 
Thread Tools Display Modes
  #1  
Old 08.04.2015, 20:30
Member
 
Join Date: Nov 2013
Location: Luzern
Posts: 100
Groaned at 6 Times in 4 Posts
Thanked 11 Times in 10 Posts
seph has no particular reputation at present
Online Broker

Hi!

I've recently opened an "e-trading" account in PostFinance to try it out. But reading a bit through the forum I see that there may be better options regarding fees and so on
The posts however are a bit old. I wanted to know some opinions on online brokers. My intention is to buy some vanguard funds or ETFs at the lowest cost possible
suggestions?
Reply With Quote
  #2  
Old 09.04.2015, 11:30
Senior Member
 
Join Date: Jun 2009
Location: Zurich
Posts: 319
Groaned at 12 Times in 11 Posts
Thanked 145 Times in 83 Posts
poot is considered knowledgeablepoot is considered knowledgeablepoot is considered knowledgeable
Re: Online Broker

If you're starting out with under 10k, then SwissQuote is a good option

Otherwise (10k+) then take a look at Saxo or Interactive Brokers
Reply With Quote
  #3  
Old 09.04.2015, 16:42
Member
 
Join Date: Nov 2013
Location: Luzern
Posts: 100
Groaned at 6 Times in 4 Posts
Thanked 11 Times in 10 Posts
seph has no particular reputation at present
Re: Online Broker

Quote:
View Post
If you're starting out with under 10k, then SwissQuote is a good option

Otherwise (10k+) then take a look at Saxo or Interactive Brokers
i'm gonna give a try to swissquote then. what would the advantages be, in your opinion, against the postfinance e-finance service?
Reply With Quote
  #4  
Old 09.04.2015, 17:45
Senior Member
 
Join Date: Jun 2009
Location: Zurich
Posts: 319
Groaned at 12 Times in 11 Posts
Thanked 145 Times in 83 Posts
poot is considered knowledgeablepoot is considered knowledgeablepoot is considered knowledgeable
Re: Online Broker

Quote:
View Post
i'm gonna give a try to swissquote then. what would the advantages be, in your opinion, against the postfinance e-finance service?
as far as I understand: cheaper, more choice, better portal

I havent tried the postfinance one.....it looks pretty basic
Reply With Quote
  #5  
Old 13.04.2015, 10:52
Member
 
Join Date: Nov 2013
Location: Luzern
Posts: 100
Groaned at 6 Times in 4 Posts
Thanked 11 Times in 10 Posts
seph has no particular reputation at present
Re: Online Broker

Quote:
View Post
as far as I understand: cheaper, more choice, better portal

I havent tried the postfinance one.....it looks pretty basic
I'm checking the web and, for example for funds found the folllowing:

Segment Subscription/ Redemption Buy /Sell Minimum/Maximum
Per Transaction Trading

Tier C: 3rd party Funds with Special Conditions* 0.5% 50.- / no maximum fees Online/Phone



0.5% per transaction, and also a minimum fee of 50chf ? Isn't that a lot?
Reply With Quote
  #6  
Old 13.04.2015, 14:56
Senior Member
 
Join Date: Jun 2009
Location: Zurich
Posts: 319
Groaned at 12 Times in 11 Posts
Thanked 145 Times in 83 Posts
poot is considered knowledgeablepoot is considered knowledgeablepoot is considered knowledgeable
Re: Online Broker

Not for here
Reply With Quote
  #7  
Old 13.04.2015, 15:10
Member
 
Join Date: Nov 2013
Location: Luzern
Posts: 100
Groaned at 6 Times in 4 Posts
Thanked 11 Times in 10 Posts
seph has no particular reputation at present
Re: Online Broker

Quote:
View Post
Not for here
yeah, that's the point perhaps
would you consider taking a look at US brokers? i wanna start investing with some savings money, and 50chf per transaction sounds like a lot to me, with the margin i have the fees are gonna probably be higher than any return for quite a while..
perhaps if you could give me some number ideas or what to invest in here without spending 5000 or more every time you want to invest in something would be nice
thanks a lot
Reply With Quote
  #8  
Old 13.04.2015, 15:18
Newbie 1st class
 
Join Date: Aug 2008
Location: Thurgau
Posts: 15
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
PilotP has no particular reputation at present
Re: Online Broker

I like Interactive Brokers and Tradestation for low fees.








They also give you access to products that you don't normally find in the CH banks & brokers ie you can invest CHF 50 per month without losing most of it in fees.
Reply With Quote
This user would like to thank PilotP for this useful post:
  #9  
Old 13.04.2015, 15:36
Newbie 1st class
 
Join Date: Aug 2008
Location: Thurgau
Posts: 15
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
PilotP has no particular reputation at present
Re: Online Broker

And if you want to get a good price on changing currencies, you may be interested to look at


https://transferwise.com/

Reply With Quote
  #10  
Old 14.04.2015, 09:48
Member
 
Join Date: Nov 2013
Location: Luzern
Posts: 100
Groaned at 6 Times in 4 Posts
Thanked 11 Times in 10 Posts
seph has no particular reputation at present
Re: Online Broker

I'm still trying to put things together..

I've seen through the forum (and this thread) recommendations on several products
Some people recommend going directly with US brokers like Interactive Brokers (IB), TradeStation or TD Ameritrade
Others recommend swiss brokers, mainly Swissquote

The disadvantages of US brokers are mainly the currency, and location of your money, taxing at source and so on, and advantages of costs being lower.

Maybe I should rephrase my question.
For the case I'm interested in, which is investing small amounts, say 500chf/mo into income securities, reinvesting any dividend with as low fees as possible for all operations, what would you recommend?

thanks a lot
Reply With Quote
  #11  
Old 14.04.2015, 12:47
Junior Member
 
Join Date: Jan 2013
Location: Zürich
Posts: 61
Groaned at 6 Times in 1 Post
Thanked 19 Times in 15 Posts
Flatrate has no particular reputation at present
Re: Online Broker

Swiss brokers have too high commissions for such small amounts. IB have $1 fixed so there it actually makes sense to invest those sums.

You can have liquid money in CHF with IB and you tax dividends in CH so I that does not differ at all to Swissquote.
Reply With Quote
  #12  
Old 14.04.2015, 16:51
Newbie 1st class
 
Join Date: Aug 2008
Location: Thurgau
Posts: 15
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
PilotP has no particular reputation at present
Re: Online Broker

"For the case I'm interested in, which is investing small amounts, say 500chf/mo into income securities, reinvesting any dividend with as low fees as possible for all operations, what would you recommend?"


If it were me, I would choose a suitable US product and invest via IB, Tradestation etc. monthly. However, once I had saved a "material" sum ie an amount that it would hurt me to lose, I would transfer it back here to a Swiss bank/broker and invest the full amount in a less volatile product.


I believe that your savings are "protected" here in Switzerland by the Swiss regulations, but I believe that your monies are not protected by any regulations while in the US, but you'd need to ask an expert in these areas.


I would still continue to invest the monthly sums in the US as before, even once I have transferred over my saved "material amount". I'd just continue the cycle.


The idea here is that while the sums are small, the critical criteria is low fees in order to make profits. However, once larger sums are involved, safety is more important, hence Swiss location and less volatile product.


Wishing you lots of profits!


P
Reply With Quote
This user would like to thank PilotP for this useful post:
  #13  
Old 14.04.2015, 21:03
Senior Member
 
Join Date: Jun 2009
Location: Zurich
Posts: 319
Groaned at 12 Times in 11 Posts
Thanked 145 Times in 83 Posts
poot is considered knowledgeablepoot is considered knowledgeablepoot is considered knowledgeable
Re: Online Broker

Quote:
View Post
yeah, that's the point perhaps
would you consider taking a look at US brokers? i wanna start investing with some savings money, and 50chf per transaction sounds like a lot to me, with the margin i have the fees are gonna probably be higher than any return for quite a while..
perhaps if you could give me some number ideas or what to invest in here without spending 5000 or more every time you want to invest in something would be nice
thanks a lot
Yeah look at US ones, but you can get some numbers ideas yourself by looking at the suggested websites and what their fees are.......if you havent got an initial 10k, then you won't be able to use Saxo or IB, but they're the best option for cheaper fees and swiss-based (saxo)

I'd veer more towards UK ones (as I know that market better) such as iii or hargreaves lansdown, but I think Us ones are cheaper still. Am also not sure if the US ones tax you even if you dont pay US tax.

If you are that bothered about the fees and hassle, then really just use swissquote til you have 10k, then close out and go to Saxo/IB in my opinion, or just wait til you have 10k anyway.
Reply With Quote
  #14  
Old 15.04.2015, 08:52
Member
 
Join Date: Nov 2013
Location: Luzern
Posts: 100
Groaned at 6 Times in 4 Posts
Thanked 11 Times in 10 Posts
seph has no particular reputation at present
Re: Online Broker

Quote:
View Post
If you are that bothered about the fees and hassle, then really just use swissquote til you have 10k, then close out and go to Saxo/IB in my opinion, or just wait til you have 10k anyway.
The 10k is just a restriction on opening an account or is there some financial reason for it?
It'd be also good to know how taxes at source (US based brokers) work and how much it is compared to getting a swiss or UK broker (UK probably taxes you at source too right? or do you have some special privilege by being a UK citizen or something like that)
The hard part is knowing in each case what are the TOTAL costs involved in investing in a particular thing: account fees, transaction fees, custody fees, backload fees, taxes, etc.
Reply With Quote
  #15  
Old 15.04.2015, 10:32
Senior Member
 
Join Date: Jun 2009
Location: Zurich
Posts: 319
Groaned at 12 Times in 11 Posts
Thanked 145 Times in 83 Posts
poot is considered knowledgeablepoot is considered knowledgeablepoot is considered knowledgeable
Re: Online Broker

They wont make enough money out of people with less than 10k so they just do it that way....not sure on the UK ones, just spend a few mins on their websites.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Swissquote (online broker) - any good? noogie Finance/banking/taxation 105 04.10.2016 11:38
Looking for an online stock broker with configurable leverage... RomandieFan Finance/banking/taxation 2 14.04.2016 20:48
Online broker lokal Finance/banking/taxation 18 09.01.2016 13:40
Customs Broker GisliO Finance/banking/taxation 0 11.01.2011 16:08
Car broker KangarooBen Transportation/driving 2 09.07.2009 13:51


All times are GMT +2. The time now is 14:28.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0