 | | | 
10.05.2020, 11:00
| Member | | Join Date: Oct 2013 Location: Zurich
Posts: 128
Groaned at 6 Times in 5 Posts
Thanked 135 Times in 55 Posts
| | Re: Interactive brokers in Switzerland
This may be very silly question but has anyone noticed their cash balance in different currencies changing without clear/visible reason/fees. I just got some dividends and everything was showing correctly but 2 days later there was suddenly 25% less while no report shows there has been any fees or movement with this currency.
I would understand if would see the amounts in CHF so this could be explained with conversion rate changes but as the amounts show in original currency wonder what could cause this or am I just missing something.
Another cash balance thing that confuses me is that had very small amount of JPY (not worth more than 20chf) and suddenly it just disappeared from my cash balance list and again in reports there is no sign/explanation what happened to it.
Am sure there is some logical explanation or fee I just cannot see in my normal reports but would like to understand what and where to find it.
| 
10.05.2020, 11:08
| Senior Member | | Join Date: Jul 2016 Location: GR
Posts: 463
Groaned at 21 Times in 17 Posts
Thanked 150 Times in 128 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | This may be very silly question but has anyone noticed their cash balance in different currencies changing without clear/visible reason/fees. I just got some dividends and everything was showing correctly but 2 days later there was suddenly 25% less while no report shows there has been any fees or movement with this currency.
I would understand if would see the amounts in CHF so this could be explained with conversion rate changes but as the amounts show in original currency wonder what could cause this or am I just missing something. 
Another cash balance thing that confuses me is that had very small amount of JPY (not worth more than 20chf) and suddenly it just disappeared from my cash balance list and again in reports there is no sign/explanation what happened to it.
Am sure there is some logical explanation or fee I just cannot see in my normal reports but would like to understand what and where to find it. | | | | | You should talk to customer service. For dividend could be some tax withheld? For small cash balances they may convert them to your base currency.
Usually I don't see any changes that I can't explain.
Edit: do you check your statements on a daily basis?
| 
01.08.2020, 21:00
| Junior Member | | Join Date: Mar 2016 Location: Basel
Posts: 58
Groaned at 0 Times in 0 Posts
Thanked 1 Time in 1 Post
| | Re: Interactive brokers in Switzerland
Is there an easy/cheap way to transfer holding from Swissquote to IB, Swissquote charge 50chf per transfer?
| 
02.08.2020, 12:46
| Forum Legend | | Join Date: Oct 2014 Location: SG
Posts: 10,873
Groaned at 721 Times in 528 Posts
Thanked 14,892 Times in 7,802 Posts
| | Re: Interactive brokers in Switzerland
IB has an account in CH now, transfers there should be free.
| 
11.08.2020, 12:32
| Newbie | | Join Date: Jun 2019 Location: Zurich
Posts: 4
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | Is there an easy/cheap way to transfer holding from Swissquote to IB, Swissquote charge 50chf per transfer? | | | | | Most brokers charge a fee when you transfer your holdings to another broker. Usually it is a fee per ticket, so it'd you have 10 stocks you would pay the fee X 10. You could ask the new broker whether they would be willing to pick up the cost.
| 
12.08.2020, 00:36
| Newbie | | Join Date: Jun 2019 Location: Zurich
Posts: 4
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | Hey guys...
I'm planning to move my portfolio to IB. How do they process dividends? My current broker deducts 15% US part of the tax and thats it. I get 85% minus cost. Does IB deduct anything for the CH part? | | | | | Assuming you do your paperwork correctly (including w8 Ben) then IB takes care of all the dividend withholding taxes and pays you the rest.
| 
17.08.2020, 01:46
| Newbie 1st class | | Join Date: Aug 2014 Location: Wallisellen, Zurich,
Posts: 23
Groaned at 29 Times in 13 Posts
Thanked 27 Times in 15 Posts
| | Re: Interactive brokers in Switzerland
Fyi, IB for trading are bad compared with ThinkorSwim (TD Ameritrade), if youre just buying stocks etc then i'd recommend www.europacbank.com they have access to almost all stock markets and are a 100% reserve bank. Check reviews etc first though, you wont be disappointed | The following 3 users groan at Pandalicious for this post: | | 
17.08.2020, 09:05
| Forum Legend | | Join Date: Mar 2009 Location: Zurich
Posts: 14,276
Groaned at 1,484 Times in 977 Posts
Thanked 21,738 Times in 8,297 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | Fyi, IB for trading are bad compared with ThinkorSwim (TD Ameritrade) | | | | | Why? Provide a reason, don't just make throwaway statements.
| 
17.08.2020, 10:17
| Member | | Join Date: Feb 2020 Location: Zurich
Posts: 156
Groaned at 20 Times in 9 Posts
Thanked 143 Times in 79 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | IB has an account in CH now, transfers there should be free. | | | | | Their CHF incoming wire account is in UK, despite CH IBAN prefix. Minor but a very important detail that if you overlook it could cost you a fortune under certain circumstances! | Quote: |  | | | Fyi, IB for trading are bad compared with ThinkorSwim (TD Ameritrade), if youre just buying stocks etc then i'd recommend www.europacbank.com they have access to almost all stock markets and are a 100% reserve bank. Check reviews etc first though, you wont be disappointed  | | | | | Interactive Brokers is a remarkable and well known firm with a long history and well deserved reputation going back to 70's. I trust my millions to them for safekeeping.
Why exactly would I want to entrust millions to some noname offshore bank that you mentioned? First time I'm even hearing about it. The website doesn't inspire my trust - they lost me already the moment I saw metatrader on their frontpage, a popular software that forex shitholes use to scam their so called "investors".
FWIW, I'm pretty happy with IB's fee structure. I'm trading vanilla stocks and funds in the US, no options, rather infreuently and can't really complain about the fees - hardly even notice them. I just hope they can still make a business out of these tiny tiny commisions they charge me, have their employers fed and not go out of business! Would be happy to even pay 10x more to prevent that.
Last edited by spark; 17.08.2020 at 10:32.
| This user would like to thank spark for this useful post: | | 
17.08.2020, 10:51
|  | Forum Legend | | Join Date: Oct 2009 Location: Baselland
Posts: 15,887
Groaned at 312 Times in 210 Posts
Thanked 20,395 Times in 8,578 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | Their CHF incoming wire account is in UK, despite CH IBAN prefix. Minor but a very important detail that if you overlook it could cost you a fortune under certain circumstances! | | | | | i've been transferring CHF from UBS to them without any issues.
| 
17.08.2020, 10:53
|  | Forum Legend | | Join Date: Oct 2009 Location: Baselland
Posts: 15,887
Groaned at 312 Times in 210 Posts
Thanked 20,395 Times in 8,578 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | Interactive Brokers is a remarkable and well known firm with a long history and well deserved reputation going back to 70's. I trust my millions to them for safekeeping. | | | | | agree with you. i'm surprised that people will put their life savings into some scammy no-name start-ups just to save a few $.
i started with Schwab but moved to IB as they have much better execution.
| The following 2 users would like to thank Phil_MCR for this useful post: | | 
17.08.2020, 16:16
| Member | | Join Date: Feb 2020 Location: Zurich
Posts: 156
Groaned at 20 Times in 9 Posts
Thanked 143 Times in 79 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | i've been transferring CHF from UBS to them without any issues. | | | | | It would be an issue for a UK non-dom resident trying to avoid paying extra taxes to her majesty. This is where it's very important that you don't accidentally transfer any money to the UK and that bank account *is* actually in UK despite CH IBAN.
Last edited by spark; 17.08.2020 at 16:27.
| 
17.08.2020, 18:20
| Forum Legend | | Join Date: Oct 2014 Location: SG
Posts: 10,873
Groaned at 721 Times in 528 Posts
Thanked 14,892 Times in 7,802 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | Fyi, IB for trading are bad compared with ThinkorSwim (TD Ameritrade), if youre just buying stocks etc then i'd recommend www.europacbank.com they have access to almost all stock markets and are a 100% reserve bank. Check reviews etc first though, you wont be disappointed  | | | | | Why would anybody with a sane mind pay EuroPacific to enable them to profit off your money?
Their fee structure is horrible. Just for the transfer you pay the Swiss bank outgoing and the same transfer incoming at EuroPacific, and again for sending it out. It's equally moronic as paying upfront fees when buying a fund.
| This user would like to thank Urs Max for this useful post: | | 
17.08.2020, 23:11
| Forum Legend | | Join Date: Jul 2020 Location: Frick, Aargau
Posts: 2,861
Groaned at 62 Times in 50 Posts
Thanked 4,070 Times in 1,901 Posts
| | Re: Interactive brokers in Switzerland
I'm too incompetent to use IB properly so use Degiro as its a bit more noob friendly and still as cheap as chips.
Other than that, I can't see a reason not to use IB.
| 
17.08.2020, 23:16
| Forum Legend | | Join Date: Jul 2020 Location: Frick, Aargau
Posts: 2,861
Groaned at 62 Times in 50 Posts
Thanked 4,070 Times in 1,901 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | agree with you. i'm surprised that people will put their life savings into some scammy no-name start-ups just to save a few $.
i started with Schwab but moved to IB as they have much better execution. | | | | | Its amazing that some people put their savings each year into cash isas or 3a insurances, but it happens!
There's an amazingly high proportion of intelligent, educated people who just will not act rationally when it comes to money, either through lack of basic research or through a weird attitude to risk.
| 
17.08.2020, 23:27
| Forum Legend | | Join Date: Jul 2020 Location: Frick, Aargau
Posts: 2,861
Groaned at 62 Times in 50 Posts
Thanked 4,070 Times in 1,901 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | Fyi, IB for trading are bad compared with ThinkorSwim (TD Ameritrade), if youre just buying stocks etc then i'd recommend www.europacbank.com they have access to almost all stock markets and are a 100% reserve bank. Check reviews etc first though, you wont be disappointed  | | | | | Expensive.
| 
20.08.2020, 09:31
| Forum Veteran | | Join Date: Mar 2010 Location: Greater Zürich Area
Posts: 1,101
Groaned at 166 Times in 103 Posts
Thanked 935 Times in 482 Posts
| | Re: Interactive brokers in Switzerland
I have a question regarding IB: is there a way to prevent that my order is split up into small chunks. I just had an order to top up my SSON holdings and yesterday I had a trade for "1" single unit (~15pounds) with a fee of about 6 pounds | 
20.08.2020, 09:58
|  | Forum Legend | | Join Date: Oct 2009 Location: Baselland
Posts: 15,887
Groaned at 312 Times in 210 Posts
Thanked 20,395 Times in 8,578 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | I have a question regarding IB: is there a way to prevent that my order is split up into small chunks. I just had an order to top up my SSON holdings and yesterday I had a trade for "1" single unit (~15pounds) with a fee of about 6 pounds  | | | | | there should be a fill or kill option.
| 
21.08.2020, 13:03
| Forum Veteran | | Join Date: Mar 2010 Location: Greater Zürich Area
Posts: 1,101
Groaned at 166 Times in 103 Posts
Thanked 935 Times in 482 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | I have a question regarding IB: is there a way to prevent that my order is split up into small chunks. I just had an order to top up my SSON holdings and yesterday I had a trade for "1" single unit (~15pounds) with a fee of about 6 pounds  | | | | | | Quote: | |  | | | there should be a fill or kill option. | | | | | Not in the mobile app. Could it be an option only in the webtrader?
| 
21.08.2020, 13:40
|  | Forum Legend | | Join Date: Oct 2009 Location: Baselland
Posts: 15,887
Groaned at 312 Times in 210 Posts
Thanked 20,395 Times in 8,578 Posts
| | Re: Interactive brokers in Switzerland | Quote: | |  | | | Not in the mobile app. Could it be an option only in the webtrader? | | | | | try the trader workstation software. https://www.interactivebrokers.com/en/index.php?f=586 |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | | Thread Tools | | Display Modes | Linear Mode |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts HTML code is Off | | | All times are GMT +2. The time now is 01:21. | |