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Old 27.02.2018, 11:03
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Re: Interactive brokers in Switzerland

Can't compare as I haven't used Schwab, but I am very happy with Interactive Brokers. Very low fees, comprehensive coverage, excellent helpdesk support when needed, easy to get money in and out.

Downsides are a software interface that can take some time to master -- the huge range of trading possibilities come with a level of complexity.
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  #302  
Old 27.02.2018, 11:08
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Re: Interactive brokers in Switzerland

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Can't compare as I haven't used Schwab, but I am very happy with Interactive Brokers. Very low fees, comprehensive coverage, excellent helpdesk support when needed, easy to get money in and out.

Downsides are a software interface that can take some time to master -- the huge range of trading possibilities come with a level of complexity.
Thanks!


Is it only accessible in the software / mobile app, or do they have a simplified web interface?
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  #303  
Old 27.02.2018, 11:25
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Re: Interactive brokers in Switzerland

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Thanks!


Is it only accessible in the software / mobile app, or do they have a simplified web interface?
There is a simplified web interface, see https://www.interactivebrokers.com
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  #304  
Old 27.02.2018, 14:00
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Re: Interactive brokers in Switzerland

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Thanks!


Is it only accessible in the software / mobile app, or do they have a simplified web interface?
"Simplified" is a big word. Their web interface is easier to use than their installed software, but it still has a lot of power and flexibility -- hence the complexity.

For example, when I place an order with my UK brokers, Hargreaves Lansdown, I am really only given a few choices: what stock, what price, is there a limit price? Any order is for that day only.

When I place the same order on Interactive Brokers, I get a lot more choices in how my order is executed: what stock, what price, is this a limit order? But also: how long is the order good for? Which exchange should be used to fill the order? Execute during trading hours or also after-hours?

The Interactive Broker platforms are geared towards experienced traders who understand what they are doing and want the power to control many variables. Platforms that are geared towards retail investors are usually a little more user-friendly, but lack much of the power that IB offers.
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Old 27.02.2018, 16:20
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Re: Interactive brokers in Switzerland

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"Simplified" is a big word. Their web interface is easier to use than their installed software, but it still has a lot of power and flexibility -- hence the complexity.

For example, when I place an order with my UK brokers, Hargreaves Lansdown, I am really only given a few choices: what stock, what price, is there a limit price? Any order is for that day only.

When I place the same order on Interactive Brokers, I get a lot more choices in how my order is executed: what stock, what price, is this a limit order? But also: how long is the order good for? Which exchange should be used to fill the order? Execute during trading hours or also after-hours?

The Interactive Broker platforms are geared towards experienced traders who understand what they are doing and want the power to control many variables. Platforms that are geared towards retail investors are usually a little more user-friendly, but lack much of the power that IB offers.
Thanks a lot for your valuable feedback.


I will also be moving from Hargreaves Lansdown - so same situation. Sounds like I'll need to do a bit of learning before I'm used to it but with those commission charges and ease of multiple currencies, seems a good option
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  #306  
Old 27.02.2018, 16:25
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Re: Interactive brokers in Switzerland

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Hi all,


I'm thinking to open an account with IB and am choosing between them and Schwab.


I'm an investor, not a trader, and not at all interested in any shorting, margin, options, etc. - my only interest is buying stocks.


IB seems very cheap for trading and a decent platform. I don't want a complex trading interface though, a simple one would work fine. The $10 monthly fee isn't so good but there is no fee if you have over $100k value.


I do like IB's ease of multiple currencies - I will be funding the account with CHF and GBP and then would buy stocks (probably only ETFs actually) in USD/GBP/EUR.


Any opinion on the best broker for me?
ΙΒ is very good as long as the value of the account is >100k USD. Plus they pay a bit of an interest on your cash USD balances >10k. Otherwise zero costs monthly, in and out.
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  #307  
Old 27.02.2018, 17:41
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Re: Interactive brokers in Switzerland

Is there any way to view which stocks / ETFs etc. are available through IB before signing up?


I'd like to check if my usual iShares / Vanguard ETFs are available. I'm assuming they are, but want to be 100%...
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  #308  
Old 27.02.2018, 18:00
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Re: Interactive brokers in Switzerland

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ΙΒ is very good as long as the value of the account is >100k USD. Plus they pay a bit of an interest on your cash USD balances >10k. Otherwise zero costs monthly, in and out.
Even if less than 100k is in the account it's still cheaper than trading on Swiss platforms. My goal is to reach 100k as soon as I can and until then I have no problem paying $10 a month.
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  #309  
Old 27.02.2018, 18:20
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Re: Interactive brokers in Switzerland

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Even if less than 100k is in the account it's still cheaper than trading on Swiss platforms. My goal is to reach 100k as soon as I can and until then I have no problem paying $10 a month.
Why not depositing some cash to go over 100k? It is like getting 10 USD interest monthly...
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  #310  
Old 27.02.2018, 18:25
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Re: Interactive brokers in Switzerland

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Why not depositing some cash to go over 100k? It is like getting 10 USD interest monthly...
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  #311  
Old 27.02.2018, 19:09
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Re: Interactive brokers in Switzerland

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Why not depositing some cash to go over 100k? It is like getting 10 USD interest monthly...
Even better, go to a bank and ask for a loan of 100k...

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  #312  
Old 27.02.2018, 20:06
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Re: Interactive brokers in Switzerland

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Is there any way to view which stocks / ETFs etc. are available through IB before signing up?


I'd like to check if my usual iShares / Vanguard ETFs are available. I'm assuming they are, but want to be 100%...

You can find the list of exchanges here
https://www.interactivebrokers.com/en/index.php?f=1562
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  #313  
Old 02.03.2018, 14:21
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Re: Interactive brokers in Switzerland

So, i was creating the account when this happen...

Error: "Stocks in a Cash account requires your Liquid Net Worth to be at least USD 20,000"

This means that even if I have the 10k to open the account I cant buy or sell stocks?
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  #314  
Old 02.03.2018, 14:39
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Re: Interactive brokers in Switzerland

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Error: "Stocks in a Cash account requires your Liquid Net Worth to be at least USD 20,000"

This means that even if I have the 10k to open the account I cant buy or sell stocks?
No, this will be around your investor profile. If you go into 'Account Management' you should be able to update your investor profile, indicating your trading experience and declaring your liquid net wealth. You simply need to declare that you have liquid net wealth of more than $20k. It does not necessarily need to be held with Interactive Brokers, and they won't ask for evidence. Cash, bank account holdings, other investments, etc are all considered.
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Old 02.03.2018, 14:52
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Re: Interactive brokers in Switzerland

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No, this will be around your investor profile. If you go into 'Account Management' you should be able to update your investor profile, indicating your trading experience and declaring your liquid net wealth. You simply need to declare that you have liquid net wealth of more than $20k. It does not necessarily need to be held with Interactive Brokers, and they won't ask for evidence. Cash, bank account holdings, other investments, etc are all considered.
So, basically i have to lie that i have more than 20k net worth in order to trade Stocks
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  #316  
Old 02.03.2018, 15:02
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Re: Interactive brokers in Switzerland

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So, basically i have to lie that i have more than 20k net worth in order to trade Stocks
Yes, it's part of their "minimum baseline" check.
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Old 02.03.2018, 15:14
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Re: Interactive brokers in Switzerland

Yeah, but you have to lie in order to buy and sell stocks with 10k, doesnt make much sense...
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  #318  
Old 02.03.2018, 15:16
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Re: Interactive brokers in Switzerland

to be fair, if you don't even have 10k in liquid emergency funds, gambling 10k on the stock market might not be the best idea anyway.
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  #319  
Old 02.03.2018, 15:35
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Re: Interactive brokers in Switzerland

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to be fair, if you don't even have 10k in liquid emergency funds, gambling 10k on the stock market might not be the best idea anyway.
Thats why i will probably go with DEGIRO, you can open an account with less
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  #320  
Old 02.03.2018, 17:27
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Re: Interactive brokers in Switzerland

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Yeah, but you have to lie in order to buy and sell stocks with 10k, doesnt make much sense...
Umm how does it not make sense? They are trying to ensure, on paper at least, ensure that people are not coming to trade with their last few pennies who are more likely to keep using the system.

It's not rocket science, and the platform is not aimed at people who only trade in very low amounts and very infrequently.
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