Banking Apps Where You Can Trade Stocks?

Finance, Taxes, Banking, Insurance and Retirement
1
Hi I realize Interactive Brokers is the best online broker.

However, I am wondering what banks (if any) also allow one to easily trade stocks as well?

I think PostFinance has it.

Revolut still not available in Switzerland to trade stocks?

Any others?

Raiffeisen?

I want to do some really basic trading in my normal bank account if possible like a longer term mega cap like Apple right in the banking app but then keep a real online broker for the more important stuff.

Thoughts?

Thanks!

2
Pretty much every bank will provide that.

The problem is costs, trading costs and management fees.

3
SwissQuote is also a bank.

4
This. You are saying you want the bank for the "longer term" stocks - that's indeed the scenario in which high fees will eat away a lot of your earnings

5
second this.

But again, the question is the fees.

6

Anyone have experience with Saxo?
https://www.home.saxo/rates-and-cond…ns/commissions

7
I stayed with them for a couple of years and left a couple of years ago for Interactive Brokers, because:

- IB fees are much lower. Although Saxo fees were somewhat in line with Swiss brokers. Note that I think they recently lowered fees significantly

- IB gave SIPC protection which is much better than Saxo's

- Saxo was not a qualified US intermediary. So they would not allow to submit a W8BEN form and switch from 30% to 15% withholding on dividends - meaning I'd either need to file US tax returns or throw 15% of my dividends away. Note that I think since then they fixed it and now they can act as a qualified intermediary

- IB is giving fair interest rate on cash, Saxo doesn't

Overall Saxo wasn't too bad and some of my biggest issue with it improved or got fixed since I left, some not.

One episode that was quite unfortunate with Saxo: I had CHF balance and bought USD funds (or the other way around), instead of blocking the purchase or converting the money, Saxo basically gave me a negative balance on one currency while keeping positive balance on another, and then charged me a lot of interests on my negative balance through several months before I noticed. That was quite shady, also because I think it was not even a margin account

8
but why? if for ease of use, IBKR has an app on the phone which is very easy to use.

9
Another option would be flowbank -- they provide an IBAN as a bank.

You can use it for CHF/EUR/USD banking service, as well as investment directly from it.

Fees are not as good as IB, but still OK.

Their UI, IMHO, is much better than IB.

10
I get the feeling sometimes that the Swiss financial industry doesn't want average people investing in shares. Thank goodness for IBKR.

11

Of course. There is a dense network of financial leeches offering mediocre products. Everything would collapse if people suddenly started buying stocks on their own. :P

12
After checking the fees of Swiss banks, I realized it's not for me - they charge too much making it unattractive to buy stocks by small amounts.

As I wanted to start & learn investing small amounts, I quickly realized there are 2 main options for me: IB and Degiro. After reading opinions and reviews, I was under impression that IB might be overly complicated in terms of interface for me --> I am now having a very good experience with Degiro, several years already.

I gradually buy stocks and hold them - fees are low, in terms of data, I have all I need and year-end statement (not a Swiss standard) is relatively easy to interpret and insert correct figures into tax declaration.

13
Swissquote was great but last year they changed the app timeout and now it's a nightmare - you can see the Google Play Store reviews on this. And they obviously don't care and claim it's "security" when in fact all other banks do it much easier. Am too lazy to change broker but deleted the app as was making me mad. Now use web version on Chrome which is easier to login in to.

14

I’m a big fan of the Poor Swiss

Worth checking out his financial tips. He does disclose his affiliate links.

15
I m using UBS but looking for better options. They charge minimum 40 chf per security order, 20 chf monthly as custody account fee.

It s definitely worst option for traders.

16
UBS are legally robbing you. Go with Swissquote or IBKR