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Old 03.01.2011, 11:15
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Would you recommend SWISSQUOTE.CH ?

Hello EF guys,

I hope you all had a great time for New Year's Eve !
HAPPY NEW YEAR

I am interested in playing a bit with my money... I know that if I want to purchase some actions, I can do it with my bank but they will charge me for any transaction I make... I do not know the details...

A friend of mine suggest I open an account on www.swissquote.ch
Do you also recommend it ? I am not an expert with financial stuff so I hope it is easy to use...

Any feedback or tips is very welcome !

THANKS !
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Old 03.01.2011, 11:16
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Re: Would you recommend SWISSQUOTE.CH ?

*Paging Phil_MCR*


Swissquote Charges
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Old 03.01.2011, 11:24
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Re: Would you recommend SWISSQUOTE.CH ?

I find their website very easy to use - much better than the systems of the "normal banks" as ZKB or CS.
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Old 03.01.2011, 11:58
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Re: Would you recommend SWISSQUOTE.CH ?

SwissQuote and SaxoBank are both a bit more like UK online stock trader services. SQ also do a savings account, via the same interface (but using a different log-in ).

Both can do multiple currency, if you ask nicely and have some money to put into them.

The ranges of securities that each one covers mostly overlaps with the other, but they are different in some cases, eg in ETFs.

Saxo's platform was traditionally for FX dealing, but they've extended it to do stocks as well - it takes a bit of getting used to and you'll need a fast PC to run it properly, fat client or browser, but it's pretty good if you can get on with it.

The SQ platform uses more basic browser technology and is less PC intensive, but is probably easier to use if you're not an all-day active trader. The menus are a bit confusing, though, and there's still plenty of info and other stuff to poke around at, if you feel that way inclined.

Both Saxo and SQ have the ability to cost you money when you accidentally use the wrong account to make a trade in a different currency, even though you have plenty of the correct currency on their system. Also, if you're not very careful, you can end up making trades that are *ahem* not what you thought, and cost yourself a few bob undoing them

Best start with one currency first and trade with instruments only of that currency, until you're familiar with their system. Trying to run before you can walk will give you broken legs.

General fees are quite resonable, but not quite to UK cheapness standards.

Neither are as good as the UK's SelfTrade platform, IMHO.
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Old 03.01.2011, 13:30
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Re: Would you recommend SWISSQUOTE.CH ?

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SwissQuote and SaxoBank are both a bit more like UK online stock trader services. SQ also do a savings account, via the same interface (but using a different log-in ).

Both can do multiple currency, if you ask nicely and have some money to put into them.

The ranges of securities that each one covers mostly overlaps with the other, but they are different in some cases, eg in ETFs.

Saxo's platform was traditionally for FX dealing, but they've extended it to do stocks as well - it takes a bit of getting used to and you'll need a fast PC to run it properly, fat client or browser, but it's pretty good if you can get on with it.

The SQ platform uses more basic browser technology and is less PC intensive, but is probably easier to use if you're not an all-day active trader. The menus are a bit confusing, though, and there's still plenty of info and other stuff to poke around at, if you feel that way inclined.

Both Saxo and SQ have the ability to cost you money when you accidentally use the wrong account to make a trade in a different currency, even though you have plenty of the correct currency on their system. Also, if you're not very careful, you can end up making trades that are *ahem* not what you thought, and cost yourself a few bob undoing them

Best start with one currency first and trade with instruments only of that currency, until you're familiar with their system. Trying to run before you can walk will give you broken legs.

General fees are quite resonable, but not quite to UK cheapness standards.

Neither are as good as the UK's SelfTrade platform, IMHO.

Thanks for the comparison and useful info.

I will only use it as a "beginner". I am thinking about getting some actions of a company or two and wait until the price rises to sell them and make a little money.

I am not rich enough to play too much with my money and cannot afford to lose CHF 300.- when I click on a wrong button

I believe Swissquote is ok for me taking in consideration that I will not be staring at the evolution every single day.
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Old 03.01.2011, 14:18
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Re: Would you recommend SWISSQUOTE.CH ?

I've used Swissquote for the last 7-8 years. They are not the cheapest, nor the most expensive, but their website is user-friendly and and all transactions have been made swiftly and efficiently. And everything can be in English is required...
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Old 03.01.2011, 19:48
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Re: Would you recommend SWISSQUOTE.CH ?

I have been using an English online CFD broker for 2 years not and pay round about 10pounds a trade of 10000pounds. I have done a few trades with swissquote and find them just as expensive as my bank (UBS) though thy have a very user friendly website. Dose anyone know a cheaper online trader ? Im more into day trading or short term trading so i spend allot on comissions...
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Old 12.01.2011, 17:16
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Re: Would you recommend SWISSQUOTE.CH ?

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Hello EF guys,

I hope you all had a great time for New Year's Eve !
HAPPY NEW YEAR

I am interested in playing a bit with my money... I know that if I want to purchase some actions, I can do it with my bank but they will charge me for any transaction I make... I do not know the details...

A friend of mine suggest I open an account on www.swissquote.ch
Do you also recommend it ? I am not an expert with financial stuff so I hope it is easy to use...

Any feedback or tips is very welcome !

THANKS !
Hi, I live in Switzerland and I am a Swissquote Bank user. I will give you the reasons I use them (in conjunction with my high street bank), you can use this info in your research, but it is all on their website if you go on it.

Initially I opened because they have a far superior return with their savings accounts as compared to a caisse d'Epargne or regular bank, SQ offer 1.45% return on anything from 1 CHF up to 50,000 CHF, they also accept accounts in EUR and USD, these have different returns...so check their site. They have no account administration fees and a minimal 2 CHF outgoing fee. What also sold it to me was the fact that unlike the traditional saving accounts, there is no need to give a 2-3-4 months advance warning that you wish to withdraw some funds, here you just take it out with no penalty, meaning your APR remains at 1.45%.

BTW, I also have an older savings account (20 years) with the Caisse d'Epargne De Nyon. The % is not as high, .750% for my compte placement...but I also believe in NOT putting all my eggs in to one basket...and their excellent service has a lot to do with why too.

You can trade Options, Futures, Equities, FX and more with SQ, again visit their website for the correct info. They have, for those with the means, what they call their "ePrivate Banking"...this is more or less a means to trade the markets by setting specific parameters with in to an electronic asset manager. Great if you have little to no time...or little to no experience (!). I watched their introduction video and it looks a pretty simple task. Now I just need to fund my account...and grow bigger balls!


Something that may be of interest to you, as you are talking trading, is the fact that SQ just took over ACM, a Geneva based FX online trading specialist. ACM is apparently a leader in the global online FX market, this would seem the case, just check out the many awards they received from places such as the Middle East and Europe. A visit to their website will give you the list...last one which was the 2010 Swiss FX broker of the year award from World Finance (UK entity).

The addition of an FX specialist would appear to be an excellent proposition for anyone interested in Swissquote for trading purposes, the savings account being an extra wee bonus.

Well, good luck, hope you find this of use.
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Old 12.01.2011, 17:24
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Re: Would you recommend SWISSQUOTE.CH ?

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I've used Swissquote for the last 7-8 years. They are not the cheapest, nor the most expensive, but their website is user-friendly and and all transactions have been made swiftly and efficiently. And everything can be in English is required...
Concurred. I've used Swissquote since 2006, before I lived in Switzerland and they've been pretty good. One exceptional thing was that once I needed money in an emergency and my account person stayed in the office till 7pm on a Friday so it would go on the Saturday morning CHAPS - he sent me a personal email on the Monday asking if I'd received the money OK.
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Old 31.01.2011, 18:13
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Re: Would you recommend SWISSQUOTE.CH ?

Hello, I want to apologize for some misinformation I posted earlier on regarding the (my!!) Swissquote interest account, it is not as I said 1.45% but rather 1.1466%...( oh the embarrassment!) still, this is by far the best return that I am aware available in Switzerland, especially if you consider that you get this % as of 1 Franc and all with no penalties or limitations like say with Credit Suisse or any of the other high street banks. So sorry for the cock-up , here is the link if anyone is interested
http://www.swissquote.ch/sqweb/savin...ction_fees.jsp

Had a look at the Acm website for forex, have to say, looks really impressive as well.

OK, 2 days off, going to Verbier for a spot of skiing...I will enjoy it for those poor sods who have to work !!
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Old 03.02.2011, 13:56
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Re: Would you recommend SWISSQUOTE.CH ?

I never used swissquote, I have heard there transaction costs are high, but i could not be sure ,so i stayed with Americatrade.
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Old 13.02.2011, 11:49
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Re: Would you recommend SWISSQUOTE.CH ?

I have been a client with Swissquote since one year.

What strikes me is how horrible conditions Swiss banks offer compared to banks in other countries. I believe that Swissquote is the best option in Switzerland, much better than Credits Suisse or UBS for sure.

But still, they are horrible. First of all you have to pay a minimum of 9 CHF each time you buy or sell a mutual fund, unless you buy or sell SQ's own mutual funds. This is normally free of charge because the bank gets a percentage of the annual cost.

Second there is no easy way to see the annual cost of the different mutual funds or ETFs. It is all a big mess.

Third, admitted that the interest rate at the savings account is far better than in Credit Suisse or UBS - which is a joke given that it is as low as 1.25%. The bad thing is that it takes three days to take money from the account so if you all of a sudden need some of your savings, this might not be as easy as you think.

If somebody knows of a better online broker with better prices, please let me know, I'd be happy to switch.

Cheers
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  #13  
Old 17.02.2011, 21:20
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Re: Would you recommend SWISSQUOTE.CH ?

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I believe that Swissquote is the best option in Switzerland, much better than Credits Suisse or UBS for sure.

But still, they are horrible. First of all you have to pay a minimum of 9 CHF each time you buy or sell a mutual fund...
Milden.

I think you may find that the Credit Suisse does not normally charge for the redemption of mutual funds. They do charge for the subscription.

They also differenciate between primary and secondary market trades though.

Cheers,
Garry
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Old 21.02.2011, 16:52
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Re: Would you recommend SWISSQUOTE.CH ?

Thanks for letting me know Garry. Swissquote also has their own Mutual Funds that are free to buy and sell, but they have a 1% management fee and they have all performed considerably worse than the index they are supposed to beat.

As for the Credit Suisse option, I'd be interested in knowing the management fee and the performance of the funds. I'd assume that you have a similar situation there, that Credit Suisse tries to steer its clients towards its own, expensive, underperforming funds... (please correct me if I'm wrong)

It surprises me that in a competitive economy like the Swiss there is no really good stock brocker. In Sweden we have a new bank called Avanza which offers fantastic solutions in terms of following your portfolio with graphs, key figures etc. Trades with stocks cost 0.015% with the minimum fee being around 6 CHF. Trades with all mutual funds are free of charge. The management fees for all mutual funds and ETFs are very easy to find. Trades in the US and Canada are cheap too. They have a index fund for the Swedish market with no charge whatsoever.

Avanza, please come to Switzerland! The big banks have been lazy and complacent for way too long. It is really disappointing that a challenger like Swissquote starts to rip off its clients the same way that the big banks do.
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Old 07.03.2011, 13:31
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Re: Would you recommend SWISSQUOTE.CH ?

I don't want to misuse the forum for publicity but as it is directly related to why I came to Switzerland I hope i am allowed to mention that there are alternatives in Switzerland for those looking for better value in online trading. We set up a Swiss office of Keytrade Bank (www.keytradebank.ch) in 2009 with offices in Geneva as effectively the market was not very competitive compared to what you are being offered elsewhere. We are still working on getting known better, not having the deep marketing pockets of some our competitors, but we came out first in quite a few comparisons in the local press.

best regards

Patrick
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Old 30.03.2011, 14:06
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Re: Would you recommend SWISSQUOTE.CH ?

I have been a client for over 3-years. Service is not bad when you call in over the telephone.

However, I dont like 2 things.
1. the trading platform, since I trade US equities. It provides no order book for US equities, which is a major minus for me. They told me over 6-months ago they are working on this and will have one out, but still nothing. There are many other brokers out there outside of Switzerland who are better, but for tax purposes I use Swissquote because it is based in Switzerland.

2. Trading fees are VERY HIGH! Even if you buy "trading packages they offer" you are still looking at $125-$250 per trade on trades $50k+
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Old 30.03.2011, 14:51
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Re: Would you recommend SWISSQUOTE.CH ?

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I have been a client for over 3-years. Service is not bad when you call in over the telephone.

However, I dont like 2 things.
...
I might add that while I like the usability of their website and the service in general: If you order something over the phone that you cannot buy online, it screws up the entire statistics of your portfolio.

I have for example some Japanese stocks and anything from daily gain in Swiss Francs to the overall statistic on currencies invested is since then very buggy - (I wish the Yen displayed were really CHF...).

But well, I guess my taste of finacial products is too unusual
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Old 03.04.2011, 11:17
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Re: Would you recommend SWISSQUOTE.CH ?

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I have been a client for over 3-years. Service is not bad when you call in over the telephone.

However, I dont like 2 things.
1. the trading platform, since I trade US equities. It provides no order book for US equities, which is a major minus for me. They told me over 6-months ago they are working on this and will have one out, but still nothing. There are many other brokers out there outside of Switzerland who are better, but for tax purposes I use Swissquote because it is based in Switzerland.

2. Trading fees are VERY HIGH! Even if you buy "trading packages they offer" you are still looking at $125-$250 per trade on trades $50k+
Our commissions (Keytradebank.ch) are 29.95usd per $20K so that is about $90 for a $50k trade, I think you could save yourself quite a lot of money I think without having to switch to foreign brokers. Best regards. Patrick
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Old 11.04.2011, 15:43
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Re: Would you recommend SWISSQUOTE.CH ?

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Our commissions (Keytradebank.ch) are 29.95usd per $20K so that is about $90 for a $50k trade, I think you could save yourself quite a lot of money I think without having to switch to foreign brokers. Best regards. Patrick
Hello Belgo, does Keytrade also offer Savings accounts like SQB, if yes could you tell me what the % is...and if you have a link too that would be great! Thx
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Old 10.05.2011, 14:53
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Re: Would you recommend SWISSQUOTE.CH ?

Looks like Belgo is busy...if anyone has this info I would appreciate it if you would share with us, thx.
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