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  #101  
Old 12.02.2021, 00:45
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Re: Interactive Brokers account

It seems that with Postfinance such Swift International transfer in USD would cost CHF 2. I did not try it yet, though.

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Hi,
Any best way to deposit USD from a Swiss Bank account to IB avoiding/reducing transfer/clearing fees?
Tks
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  #102  
Old 12.02.2021, 08:44
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Re: Interactive Brokers account

Plus clearing fee when the cash is credited in IB. About 25 bucks.

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It seems that with Postfinance such Swift International transfer in USD would cost CHF 2. I did not try it yet, though.
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  #103  
Old 12.08.2021, 16:37
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Re: Interactive Brokers account

Hi,

I wonder if you can help with your IB experience. Does the PDT rule apply when using IB being based in Switzerland (Swiss resident)?
Thanks
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  #104  
Old 12.08.2021, 17:56
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Re: Interactive Brokers account

What is PDT?
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  #105  
Old 12.08.2021, 18:02
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Re: Interactive Brokers account

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What is PDT?
I wondered that & google answered it!
https://www.investopedia.com/terms/p...ndaytrader.asp
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  #106  
Old 12.08.2021, 18:04
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Re: Interactive Brokers account

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What is PDT?

https://www.stockpicker.eu/en/europe...-the-pdt-rule/
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  #107  
Old 12.08.2021, 18:06
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Re: Interactive Brokers account

That talks about users in the EU, whose accounts got moved to Hungry, so where are Swiss accounts held?
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  #108  
Old 12.08.2021, 20:42
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Re: Interactive Brokers account

Swiss accounts stayed with IB UK so the rule still applies.
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  #109  
Old 13.08.2021, 00:09
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Re: Interactive Brokers account

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That talks about users in the EU, whose accounts got moved to Hungry, so where are Swiss accounts held?
Mine is with IB UK, has been since forever (since before the financial crisis).
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  #110  
Old 13.08.2021, 00:14
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Re: Interactive Brokers account

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That talks about users in the EU, whose accounts got moved to Hungry, so where are Swiss accounts held?
In Obese?

Sorry, sorry, couldn't help myself, it was a funny typo.
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  #111  
Old 13.08.2021, 16:48
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Re: Interactive Brokers account

Pattern Day Trader (PDT) rule is a designation from the Securities and Exchange Commission (SEC) that is given to traders who make four or more day trades in their margin account over a five business day period. A day trade is when you purchase or short a security and then sell or cover the same security in the same day.

So in many countries (US, UK..) if you do not follow the PDT rule, your broker freeze your account.
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  #112  
Old 13.08.2021, 16:49
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Re: Interactive Brokers account

Did it get affected by the Brexit in any way?
Thanks
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  #113  
Old 13.08.2021, 20:53
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Re: Interactive Brokers account

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Did it get affected by the Brexit in any way?
Thanks
According to the link that was posted above the rule still applies.
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  #114  
Old 26.12.2021, 11:51
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Re: Interactive Brokers account

Hello,
IB is still wishy-washy to reply with a clear answer whether US domiciled ETF can be still accessed as of next January.

A workaround is to be classified as elected professional investors if certain criteria are met. But believe this could make you liable to be paying capital gains tax in the future.

What are your thoughts?
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  #115  
Old 27.12.2021, 13:51
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Re: Interactive Brokers account

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What are your thoughts?

Wait for a week and we'll see if they are still available.
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  #116  
Old 27.12.2021, 16:00
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Re: Interactive Brokers account

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Wait for a week and we'll see if they are still available.
I asked about 6 months ago. IB said you cannot buy any new, but you still keep what you have. You are not forced to sell.

If you want to be qualified as a professional investor, you need at least 500k invested with IB. In my understanding this has nothing to do with your tax status in Switzerland. But feel free to prove otherwise.
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  #117  
Old 27.12.2021, 17:21
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Re: Interactive Brokers account

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I asked about 6 months ago. IB said you cannot buy any new, but you still keep what you have. You are not forced to sell.

If you want to be qualified as a professional investor, you need at least 500k invested with IB. In my understanding this has nothing to do with your tax status in Switzerland. But feel free to prove otherwise.
Many have asked and gotten varying responses from official IBKR representatives, so not even they have a clear cut answer.
Should probably sit somewhere deeper in the latest regulations.

That's why I said it will be as simple as (at least for me) waiting for next Monday and trying to buy again.
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  #118  
Old 27.12.2021, 18:13
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Re: Interactive Brokers account

500k? I wish

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I asked about 6 months ago. IB said you cannot buy any new, but you still keep what you have. You are not forced to sell.

If you want to be qualified as a professional investor, you need at least 500k invested with IB. In my understanding this has nothing to do with your tax status in Switzerland. But feel free to prove otherwise.
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  #119  
Old 29.12.2021, 19:09
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Re: Interactive Brokers account

You need to show $500k+ account size plus significant trading activity to qualify for professional status (which will, incidentally, drive your market data costs through the roof).


The other alternative is to buy ITM options on the ETFs you want and get assigned. The catch here is that you need to buy in blocks of 100 shares.
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  #120  
Old 29.12.2021, 21:29
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Re: Interactive Brokers account

Thank you very much.
Basically best to switch to Irish equivalent domiciled fund, pay higher costs and incur some tax leakage.


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You need to show $500k+ account size plus significant trading activity to qualify for professional status (which will, incidentally, drive your market data costs through the roof).


The other alternative is to buy ITM options on the ETFs you want and get assigned. The catch here is that you need to buy in blocks of 100 shares.
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