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Old 29.10.2017, 09:55
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Has anyone experience of using Internaxx?

My situation is that I am currently in the process of leaving the UK and moving to Switzerland to live permanently.

I have fund investments which I need to transfer out of the UK and I am looking for a suitable online broker to handle my investments. I expect to invest in funds in USD, EUR and (possibly GBP) currencies.

Internaxx seems as if it could be a suitable home. They have a flat rate structure which would suit me as a low trade activity fund investor and their rates seem to be reasonable.

Internaxx used to be 'TD Direct Investing International', and before that 'Internaxx'. They are part of the 'Interactive Investor' group in the UK which I have had good experience with.

I can't see any 'cons' at the moment, but I am aware of my scant knowledge of practical investing from Switzerland.

Thank you for any thoughts on this.
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Old 29.10.2017, 09:56
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Re: Has anyone experience of using Internaxx?

Why do you need to transfer that all? Just keep the account in the UK?
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Old 29.10.2017, 10:06
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Re: Has anyone experience of using Internaxx?

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Why do you need to transfer that all? Just keep the account in the UK?
Because it is not possible to continue to deal as a non-resident with the accounts that I have.

Also, the history of the GBP/CHF exchange rate is a concern. (I do appreciate that a certain amount of the value of UK investments is generated outside the UK and so do offset this, but I think it might be more efficient to invest directly in more stable currencies.)
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Old 30.10.2017, 10:44
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Re: Has anyone experience of using Internaxx?

They're rather expensive. Including their rip-off spread for currency exchange. And no, their commissions aren't flat.

Perhaps check out Interactive Brokers (search the forum). Though they're located in London, having an account with them is trivial as a Swiss resident (perhaps unless some particular issue specific to your situation applies).
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Old 06.11.2017, 23:40
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Re: Has anyone experience of using Internaxx?

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And no, their commissions aren't flat.
I understand that the FX spread on Internaxx is an issue, but I understand that for investing in funds, the there are no charges. That seems 'flat' to me.

There is the fund manager's charge of course. As I invest in funds, I can't see how I can avoid that charge, wherever I deal. Looking at fund data I can see that there are differing manager charges for the same fund. There are some units which do have lower charge rates, but they are probably for institutions with trade minimums which are outside of my league.

I did look at IBS, but I find that it is very complex for my simple requirements. I was also put off by the fact that I couldn't see any details of the funds that I would be able to invest in. Perhaps I will be told that I can invest in any fund that I choose, but without signing up to them I couldn't find any way to see what their universe might be.
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