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  #341  
Old 17.04.2018, 10:46
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Re: Interactive brokers in Switzerland

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I know for US consumers they have some, but for us in Switzerland?
As a person domiciled in Switzerland, you are a customer of IB UK. Cash is handled by IB UK, so it falls under the British law.
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  #342  
Old 17.04.2018, 11:02
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Re: Interactive brokers in Switzerland

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As a person domiciled in Switzerland, you are a customer of IB UK. Cash is handled by IB UK, so it falls under the British law.
Thanks. I imagine it's covered by the FSCS for up to 85k GBP then.


I already sent them a message to ask the question anyway, will post here with any other info...


Thanks again
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  #343  
Old 29.05.2018, 17:05
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Re: Interactive brokers in Switzerland

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Thanks. I imagine it's covered by the FSCS for up to 85k GBP then.


I already sent them a message to ask the question anyway, will post here with any other info...


Thanks again
Hi Enohzee, did you get an answer from IB?
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  #344  
Old 29.05.2018, 20:31
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Re: Interactive brokers in Switzerland

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Hi Enohzee, did you get an answer from IB?
Hi there. They just referred me to the page about security of deposits in the USA...
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  #345  
Old 27.08.2018, 09:30
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Re: Interactive brokers in Switzerland

I have been using Revolut to transfer money from my Switzerland UBS (CHF) to U.K lloyds account (GBP), I get good conversion rate but each time I pay UBS 5 CHF for the transfer. I also have interactive brokers account, can I load CHFs to my IB account (which is free), do the conversion in IB (charges < 1$) and withdraw to GBP (they say 1 withdrawal is free per month). Should be cheaper than Revolut on paper, am i missing something ? any one done this?
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  #346  
Old 27.08.2018, 10:10
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Re: Interactive brokers in Switzerland

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I have been using Revolut to transfer money from my Switzerland UBS (CHF) to U.K lloyds account (GBP), I get good conversion rate but each time I pay UBS 5 CHF for the transfer. I also have interactive brokers account, can I load CHFs to my IB account (which is free), do the conversion in IB (charges < 1$) and withdraw to GBP (they say 1 withdrawal is free per month). Should be cheaper than Revolut on paper, am i missing something ? any one done this?
Yes you can do this
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  #347  
Old 27.08.2018, 10:47
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Re: Interactive brokers in Switzerland

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Should be cheaper than Revolut on paper, am i missing something ? any one done this?



yip, should be, but what you save on cost you loose on convenience. I do both, when I have bigger one-off type transfers that I can 'afford' to wait 2--5 days for total processing then yes. if I need to topup a card, to make a purchase now, then I go the other route.


6 or half dozen?
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  #348  
Old 27.08.2018, 11:06
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Re: Interactive brokers in Switzerland

Question guys; how long does it take for the funds to be available for re-investment when you sell shares on IB? As an example, if I sell $10k of Amazon shares how soon before I can put that $10k on Google?
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  #349  
Old 27.08.2018, 11:27
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Re: Interactive brokers in Switzerland

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Question guys; how long does it take for the funds to be available for re-investment when you sell shares on IB? As an example, if I sell $10k of Amazon shares how soon before I can put that $10k on Google?
3-5 working days. You could get a margin account and have it available immediately.
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  #350  
Old 27.08.2018, 15:13
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Re: Interactive brokers in Switzerland

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Question guys; how long does it take for the funds to be available for re-investment when you sell shares on IB? As an example, if I sell $10k of Amazon shares how soon before I can put that $10k on Google?
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3-5 working days. You could get a margin account and have it available immediately.

^this (c; But I thought even with a 'regular' account (and approaching USD30k, pattern day trading rule limit) it was nearly instant? There is no real reason to hold back the cash if the transaction has been cleared. Especially closing longs and going long. (short sales might be a little different.) Overnight seems a reasonable time limit with todays technology. EPMike may be right though.
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  #351  
Old 28.08.2018, 09:01
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Re: Interactive brokers in Switzerland

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^this (c; But I thought even with a 'regular' account (and approaching USD30k, pattern day trading rule limit) it was nearly instant? There is no real reason to hold back the cash if the transaction has been cleared. Especially closing longs and going long. (short sales might be a little different.) Overnight seems a reasonable time limit with todays technology. EPMike may be right though.
I think its not IB but the stock exchanges that take that long to clear the transaction. Even though I never had a transaction not cleared.
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  #352  
Old 28.08.2018, 09:16
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Re: Interactive brokers in Switzerland

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3-5 working days. You could get a margin account and have it available immediately.
Hmm I need to read up on this then as I assume it potentially incurs interest and additional charges.
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  #353  
Old 28.08.2018, 09:45
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Re: Interactive brokers in Switzerland

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3-5 working days. You could get a margin account and have it available immediately.
Thats insanely crap if true, every other broker lets you reinvest immediately.
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  #354  
Old 28.08.2018, 10:03
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Re: Interactive brokers in Switzerland

https://ibkr.info/node/814
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  #355  
Old 28.08.2018, 10:08
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Re: Interactive brokers in Switzerland

Thanks, seems like it is 3 days then.

Does the margin account allow you to only use amounts limited to the unsettled funds (which I would prefer) or can you theoretically use it to take out additional loans and use more than you have (I wouldn't want this)?

PS: Yes I will do some reading up when I get home.
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  #356  
Old 28.08.2018, 10:09
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Re: Interactive brokers in Switzerland

That makes Schwab or even Post Finance so much better, not being able to repurchase shares in times of high market volatility is an absolute no no for me.

Postfinance always allowed me to instantly spend proceeds of sales on US securities settled through the USD account in PF.
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Old 28.08.2018, 10:15
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Re: Interactive brokers in Switzerland

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That makes Schwab or even Post Finance so much better, not being able to repurchase shares in times of high market volatility is an absolute no no for me.

Postfinance always allowed me to instantly spend proceeds of sales on US securities settled through the USD account in PF.
the free-riding rule probably covers you for 99% of cases. are you really like to sell something, buy something and sell that new thing again in a 3 day window? even if you are, you can do it, but you are just prevented from doing it again for 90 days. during which time you can convert to a margin account which might be more appropriate for that kind of rapid turnover trading.
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  #358  
Old 28.08.2018, 10:32
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Re: Interactive brokers in Switzerland

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the free-riding rule probably covers you for 99% of cases. are you really like to sell something, buy something and sell that new thing again in a 3 day window? even if you are, you can do it, but you are just prevented from doing it again for 90 days. during which time you can convert to a margin account which might be more appropriate for that kind of rapid turnover trading.
Your probably too young to remember when the LSE had a 2 week account, you only needed to settle your net position every 2 weeks.
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Old 28.08.2018, 12:05
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Re: Interactive brokers in Switzerland



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That makes Schwab or even Post Finance so much better, not being able to repurchase shares in times of high market volatility is an absolute no no for me.
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Postfinance always allowed me to instantly spend proceeds of sales on US securities settled through the USD account in PF.



I agree, but let's make sure we are talkng about the same things here: cash accounts / margin accounts / portfolio margin accounts.


Schwab/PF/CH others may actually be providing you a margin account, or they are taking the risk on their side in a cash account (unlikely). Regulators may have a different opinion in CH comapred with US (more likely). US regulator in realation to Cash accounts is pretty clear and is implemented as the link describes.


Most margin account default to 2:1 and you have the cost associated with the privilege (low in the current interest regime).
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Old 28.08.2018, 12:16
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Re: Interactive brokers in Switzerland

see also schwab: https://www.schwab.com/active-trader...d-the-timeline
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