Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation
Reply
 
Thread Tools Display Modes
  #81  
Old 28.09.2016, 10:44
The_Love_Doctor's Avatar
Forum Legend
 
Join Date: Aug 2009
Location: Zugerberg, Zug
Posts: 2,957
Groaned at 69 Times in 53 Posts
Thanked 3,231 Times in 1,541 Posts
The_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond repute
Re: Swissquote (online broker) - any good?

Quote:
View Post

Any surprise fees/charges with SwissQuote (banking, brokerage or 3rd pillar)?
They charge custody fees which a lot of the online brokers don't. And also if you wish to transfer your positions somewhere else after a few years it will cost you around $50 per position if my memory serves me right.

You pay for the service, which is not bad I have to say. The fees are not the cheapest by any means but they are cheaper than buying stocks etc with your bank directly. (but that's very easy to beat)

As for multi currency banking, I don't think they offer any banking services as such, I mean they do mortgages which are not offered by them directly, and some saving / investment products but they don't offer a debit card / payment services (direct debit / standing orders) if that's what you're looking for.
Reply With Quote
  #82  
Old 28.09.2016, 12:01
NotAllThere's Avatar
Forum Legend
 
Join Date: Oct 2008
Location: Baselland
Posts: 9,675
Groaned at 148 Times in 130 Posts
Thanked 13,465 Times in 5,465 Posts
NotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond repute
Re: Swissquote (online broker) - any good?

Multi-currency trading, on the other hand, is very easy.
Reply With Quote
  #83  
Old 28.09.2016, 20:04
ivank's Avatar
Forum Veteran
 
Join Date: Feb 2012
Location: ZH
Posts: 1,914
Groaned at 68 Times in 58 Posts
Thanked 1,668 Times in 929 Posts
ivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond repute
Re: Swissquote (online broker) - any good?

Quote:
View Post
I didn't choose IB as it would be more expensive for my needs than SwissQuote.
I'm really having a trouble imagining a scenario where SwissQuote would be cheaper than IB. Would you enlighten me what kind of needs exactly are those?
Reply With Quote
  #84  
Old 28.09.2016, 21:31
Junior Member
 
Join Date: Jul 2015
Location: Zug
Posts: 39
Groaned at 4 Times in 4 Posts
Thanked 0 Times in 0 Posts
PerpetualTraveler has become a little unpopularPerpetualTraveler has become a little unpopular
Re: Swissquote (online broker) - any good?

I have an account with Swissquote for years now and besides the high cost they are OK. Platform is bad but they have a large amount of products to trade. Never once got a call from them, but when I needed help I can always speak to someone right away.

A few months ago I saw this article in FUW which might be interesting for everyone (in GERMAN but the table should be easy):

https://www.cornertrader.ch/export/s...uW_article.pdf

It made me think, and I finally took the leap and opened an account with Corner (from the Corner card you might know). Very satisfied so far, great service, platform and very low trading cost. They are also the 'most stable bank' in Switzerland, for whatever that is worth.
Reply With Quote
This user groans at PerpetualTraveler for this post:
  #85  
Old 28.09.2016, 21:36
ivank's Avatar
Forum Veteran
 
Join Date: Feb 2012
Location: ZH
Posts: 1,914
Groaned at 68 Times in 58 Posts
Thanked 1,668 Times in 929 Posts
ivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond repute
Re: Swissquote (online broker) - any good?

Quote:
View Post
A few months ago I saw this article in FUW which might be interesting for everyone (in GERMAN but the table should be easy): .
It's obviously biased. Where are all the international brokers? Where's IB?
Reply With Quote
This user groans at ivank for this post:
  #86  
Old 28.09.2016, 21:41
Junior Member
 
Join Date: Jul 2015
Location: Zug
Posts: 39
Groaned at 4 Times in 4 Posts
Thanked 0 Times in 0 Posts
PerpetualTraveler has become a little unpopularPerpetualTraveler has become a little unpopular
Re: Swissquote (online broker) - any good?

Quote:
View Post
It's obviously biased. Where are all the international brokers? Where's IB?
Its just about Swiss brokers. In a Swiss publication. Why is that biased? Living in Switzerland I'd rather do business with a Swiss Broker.
Reply With Quote
This user groans at PerpetualTraveler for this post:
  #87  
Old 28.09.2016, 21:52
ivank's Avatar
Forum Veteran
 
Join Date: Feb 2012
Location: ZH
Posts: 1,914
Groaned at 68 Times in 58 Posts
Thanked 1,668 Times in 929 Posts
ivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond repute
Re: Swissquote (online broker) - any good?

Quote:
Its just about Swiss brokers. In a Swiss publication. Why is that biased?
Because "Its just about Swiss brokers."

Quote:
View Post
Living in Switzerland I'd rather do business with a Swiss Broker.
Sure, then you simply pay the Swiss prices.
Reply With Quote
This user groans at ivank for this post:
  #88  
Old 28.09.2016, 23:21
4rt's Avatar
4rt 4rt is offline
Junior Member
 
Join Date: Jul 2015
Location: Wettingen
Posts: 34
Groaned at 0 Times in 0 Posts
Thanked 36 Times in 18 Posts
4rt is considered knowledgeable4rt is considered knowledgeable4rt is considered knowledgeable
Re: Swissquote (online broker) - any good?

I use two online brokers which I'm quite happy with:

TradeDirect is great for Swiss securities. In my opinion, it's the best Swiss broker for those who do not trade very often but rather invest long-term. The fees for SIX Swiss Exchange trades are quite competitive and the admin fees are 0,025% of your assets per quarter (but min. 10 CHF and max. 25 CHF per quarter). See their leaflet (PDF).

To satisfy my international brokerage needs, I rely on flatex. It is my door to the European and North American markets. They have a flat pricing structure, which means the fees are detached from the investment amount. So I end up paying around 7 EUR per trade on XETRA or around 10 EUR per trade across the pond. See their fees.
__________________
My blog about cross-border opportunities and life hacks for Swiss residents:
Reply With Quote
This user would like to thank 4rt for this useful post:
  #89  
Old 28.09.2016, 23:23
Junior Member
 
Join Date: Jul 2015
Location: Zug
Posts: 39
Groaned at 4 Times in 4 Posts
Thanked 0 Times in 0 Posts
PerpetualTraveler has become a little unpopularPerpetualTraveler has become a little unpopular
Re: Swissquote (online broker) - any good?

Quote:
View Post
Because "Its just about Swiss brokers."


Sure, then you simply pay the Swiss prices.
It says clearly it is about Swiss brokers, so I dont understand you saying its biased. Its like doing a test about luxury cars and then complaining the test is biased cause it doesn't contain cheap cars (not making an equivalency with Swiss brokers versus foreign, btw).

Also, I (like I guess others) like to know my money is in Switzerland..

BTW I had an account with I.B. and that was the worst experience ever for me. Bad platforms, horrible service. Yes pricing is good, but thats really just about it. Different things are important for different people.
Reply With Quote
  #90  
Old 29.09.2016, 08:30
NotAllThere's Avatar
Forum Legend
 
Join Date: Oct 2008
Location: Baselland
Posts: 9,675
Groaned at 148 Times in 130 Posts
Thanked 13,465 Times in 5,465 Posts
NotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond repute
Re: Swissquote (online broker) - any good?

Quote:
View Post
I'm really having a trouble imagining a scenario where SwissQuote would be cheaper than IB. Would you enlighten me what kind of needs exactly are those?
If you do no trades in a month, IB will cost you $10. With Swissquote, if you have less than CHF120'000, then the monthly cost is lower (0.025%, min CHF5 per month).

As they say on their website "IB caters to active professional traders and investors" . If you're not that active, and you're not a professional, then it may not be suitable for you.
Reply With Quote
This user would like to thank NotAllThere for this useful post:
  #91  
Old 29.09.2016, 14:39
ivank's Avatar
Forum Veteran
 
Join Date: Feb 2012
Location: ZH
Posts: 1,914
Groaned at 68 Times in 58 Posts
Thanked 1,668 Times in 929 Posts
ivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond repute
Re: Swissquote (online broker) - any good?

Yeah, but
1) the $10 fee you can offset by trade fees with IB if you do trade, unlike Swissquote's fee which is a fixed and complete loss
2) it's waived if you keep >$100k invested with them,
3) they have an affiliate/reseller captrader.de which doesn't charge it in exchange for somewhat higher transaction costs.
4) swissquote transactions fees are so much higher, that i'm sure you'll eventually lose much more on trades with them than the $60 savings per year in account keeping. For me this is certainly so, and I'm only doing maybe only a dozen of trades per year.
Reply With Quote
  #92  
Old 29.09.2016, 17:18
NotAllThere's Avatar
Forum Legend
 
Join Date: Oct 2008
Location: Baselland
Posts: 9,675
Groaned at 148 Times in 130 Posts
Thanked 13,465 Times in 5,465 Posts
NotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond repute
Re: Swissquote (online broker) - any good?

Quote:
View Post
Yeah, but....
You asked me for a scenario. All your "yeah but"s vary from that scenario, quite significantly.

I use Swissquote because I find it easy to use and the customer service has been responsive when I've used it. I've never been surprised by additional costs; to me everything is transparent. I don't find them to be particularly expensive. My investments are worth way more than the money I've put in, even with Swissquote's costs.

I've not used any other site, but don't care to as I've no issue with the one I'm on. Maybe if I was with IB I'd save a up to 100CHF a year - don't know, can't be bothered to make the calculation, since I can save that by making my own sandwich at home rather than buying one from Migros. Or I could ditch the subscription to one of the investment advisories I'm with. Or I could charge my client for work an additional hour.
__________________
www.baselpanto.org Come and see the fun for all the family Basel theatre show for 2017, Aladdin! Tickets selling fast, so don't delay.
Reply With Quote
  #93  
Old 29.09.2016, 17:33
ivank's Avatar
Forum Veteran
 
Join Date: Feb 2012
Location: ZH
Posts: 1,914
Groaned at 68 Times in 58 Posts
Thanked 1,668 Times in 929 Posts
ivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond repute
Re: Swissquote (online broker) - any good?

Sure, if you're happy, stay with them and pay the price for swissness.

For some other people hundreds of franks do still count as money though
Reply With Quote
  #94  
Old 29.09.2016, 17:38
GenevaSculler's Avatar
Forum Veteran
 
Join Date: May 2008
Location: Geneva
Posts: 1,191
Groaned at 7 Times in 5 Posts
Thanked 953 Times in 491 Posts
GenevaSculler has a reputation beyond reputeGenevaSculler has a reputation beyond reputeGenevaSculler has a reputation beyond reputeGenevaSculler has a reputation beyond reputeGenevaSculler has a reputation beyond repute
Re: Swissquote (online broker) - any good?

Quote:
View Post
Sure, if you're happy, stay with them and pay the price for swissness.

For some other people hundreds of franks do still count as money though
What's the point in being so aggressive about it? Swissquote works for him, it doens't work for you... He's not pushing you to change so live and let live.
Reply With Quote
This user groans at GenevaSculler for this post:
  #95  
Old 29.09.2016, 17:47
ivank's Avatar
Forum Veteran
 
Join Date: Feb 2012
Location: ZH
Posts: 1,914
Groaned at 68 Times in 58 Posts
Thanked 1,668 Times in 929 Posts
ivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond repute
Re: Swissquote (online broker) - any good?

What? I told him exactly to stay with swissquote if that makes him happy. He's entitled to that just as much as I'm entitled to my opinion that they're expensive, there are similar but cheaper foreign brokers and to some people me including price difference matters enough.
Reply With Quote
  #96  
Old 29.09.2016, 19:09
ivank's Avatar
Forum Veteran
 
Join Date: Feb 2012
Location: ZH
Posts: 1,914
Groaned at 68 Times in 58 Posts
Thanked 1,668 Times in 929 Posts
ivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond repute
Re: Swissquote (online broker) - any good?

Quote:
View Post
Multi-currency trading, on the other hand, is very easy.
What about the fees/spreads? I can live with horrible unintuitive UIs, no problemo.

Say, I have 100k CHF on one bank account, how much EURs can I realistically end up with on another bank account if go through Swissquote to do CHF->EUR? (Assuming a fixed interbank exchange rate)

Last time I looked at swissquote's rates they were offering me a 1% spread or so. But as I understand they have two forex systems. I haven't tried their expert-mode "FX trading platform" - what to expect from it for the use case above? Does it allow taking the money by out after conversion or is it more for pure FX speculation?

Last edited by ivank; 29.09.2016 at 19:24.
Reply With Quote
  #97  
Old 29.09.2016, 19:52
NotAllThere's Avatar
Forum Legend
 
Join Date: Oct 2008
Location: Baselland
Posts: 9,675
Groaned at 148 Times in 130 Posts
Thanked 13,465 Times in 5,465 Posts
NotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond repute
Re: Swissquote (online broker) - any good?

By multi-currency trading, I mean multi-currency stock trading. Sorry for any confusion.

I don't do forex trading (aka "gambling"), and for bank to bank currency transfer I use a foreign currency broker, so I can't help you with your questions on this subject.

You do seem to have a bee in your bonnet about Swissquote, and you do come across as rather agressive? Do you work for IB?
Reply With Quote
  #98  
Old 29.09.2016, 19:59
ivank's Avatar
Forum Veteran
 
Join Date: Feb 2012
Location: ZH
Posts: 1,914
Groaned at 68 Times in 58 Posts
Thanked 1,668 Times in 929 Posts
ivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond repute
Re: Swissquote (online broker) - any good?

Quote:
I don't do forex trading (aka "gambling")
Fully agree here, its gambling

Quote:
and for bank to bank currency transfer I use a foreign currency broker
Well, i'm doing that with IB. They offer that too and rather cheaply, certainly no nonsense 1℅ spreads

Quote:
do you work for IB?
No
Reply With Quote
  #99  
Old 29.09.2016, 20:07
ivank's Avatar
Forum Veteran
 
Join Date: Feb 2012
Location: ZH
Posts: 1,914
Groaned at 68 Times in 58 Posts
Thanked 1,668 Times in 929 Posts
ivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond repute
Re: Swissquote (online broker) - any good?

Quote:
View Post
You do seem to have a bee in your bonnet about Swissquote, and you do come across as rather agressiv
I've tried both and can judge a bit about each from personal experience. Swissquote is unfortunately a clear loser in my opinion.
Reply With Quote
  #100  
Old 30.09.2016, 10:33
Meadow's Avatar
Member
 
Join Date: Jul 2016
Location: Zurich
Posts: 231
Groaned at 5 Times in 4 Posts
Thanked 65 Times in 46 Posts
Meadow has no particular reputation at present
Re: Swissquote (online broker) - any good?

I decided to go with Corner Trader, because I plan to buy and hold.

They charge 0.12% for European ETF trades plus the Swiss stamp tax 0.075%. So investing 100 000 CHF would cost 100000*(0.12%+0.075%) = 195 CHF. Of course, if some day I would like to start withdrawing, then the same commission would apply to selling.

Alternatively, buying US ETFs costs 2 cents per share. So buying 1000 shares at 100 USD per share (or at any other price) would cost 20 USD.

I didn't consider to go with IB, because I don't know if it does not have some FATCA implications and Swiss banks don't like that.

I wonder why do they sell US ETFs in Europe when in USA they are so much cheaper to buy? Why would anyone buy it in Europe? Withholding tax reasons?
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
swissquote dimli Finance/banking/taxation 4 29.01.2011 00:23
Swissquote Bank rates too good to be true? Beanie101 Swiss politics/news 0 16.02.2009 14:15
Swissquote kfcfriend Finance/banking/taxation 5 28.09.2008 22:18
Good free online game MattM Other/general 2 24.10.2007 13:27
Good online camera store in Switzerland? j_in_ch Other/general 6 23.09.2006 00:52


All times are GMT +2. The time now is 00:52.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0