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Old 12.02.2018, 22:56
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Corner Trader trading account

Hi,

Just to give some background:

I am a person with completely no experience in trading or the stock market. I am in a position to invest a couple of thousand in stocks with money I can afford to lose. I have used Moneyland.ch to compare the trading platforms and have decided Corner Traders matches my needs best.

Now for the question....

I will relocate back to my home country of Ireland in July of this year. From reading the contract with Corner Trader it would seem that they do not offer accounts to non-residents as they are regulated by FINMA only but has anybody any experience where they have opened the account as a resident but then left the country? What happens in that situation? Do they force you to close the account?

Thanks for your answers in advance.
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Old 12.02.2018, 23:12
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Re: Corner Trader trading account

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I have used Moneyland.ch to compare the trading platforms and have decided Corner Traders matches my needs best.
That site has an unhealthy bias towards swiss products, take any of their advice with a boatload of salt

Still, for only 2k CornerTrader is probably among the cheapest options you have. Another el cheapo option and happy to take on swiss clients is degiro from NL.

Then, this amount is small enough for pillar 3a and there's a new reasonably priced provider on the market that might be even better option if all you want to do is buy an index fund - VIAC from WIR Bank.

Quote:
they do not offer accounts to non-residents as they are regulated by FINMA only
"regulated by FINMA" does not imply they can't service non swiss clients. If you close the account, forcibly or not, you should be able to transfer positions to a new broker, no problem at least for vanilla stocks/ETFs

Last edited by ivank; 12.02.2018 at 23:25.
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Old 12.02.2018, 23:23
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Re: Corner Trader trading account

Thank you Ivank, I guess I just assumed that it would make it more complex to prosecute non-residents but I do not see myself going anywhere near any speculative type investing where you could lose more than you put in.

I guess the issue I have is I don't really want to go opening an account only to have to close it in 6 months!
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