SwissQuote VS SaxoBank

Finance, Taxes, Banking, Insurance and Retirement
1
Hi to all,

I have a Swissquote account and in my opinion it is very expansive (transaction fees)

I have found http://ch.saxobank.com/: it’s cheaper and it looks better for the Trading Platforms.

Is anyone trading with them? Any advice or alternative?

Thanks,

2
Hi,

I tried all Saxo, Swissquote, PostFinance, UBS and some others. Finally settled for Interactive Brokers and quite frankly it is the best I have seen so far.

Not only is it very very cheap, commission wise, it also loans you money (say USD) at a measly rate of 1.65%. There are big stocks paying more than 3% dividend (like Johnson&Johnson). Even if you do not want to borrow money, this is the best I have found in terms of commissions.

Hope that helps,

-Ip

3
Hi ipsiety,

Thanks for the reply.

I checked the Interactive brokers web site and I completely agree with you: IB is cheaper compared to Saxo Bank.

As far I know With Saxo Bank the money “”is based” is Switzerland, and with IB? And how it works with the taxes?

Thanks,

Pastisse

4
Hi, I don't quite understand the minimum deposit required by IB. Does that mean I always have to keep 10000USD in my IB account? What happens if I don't? Thanks!

5
hi pastisse,

I have an account at Swissquote too

I DO think is quite expensive (It's really annoing that if the stock you bought is doing +0.6~1.2% you are still not making money while the bank is)

I am thinking switching to saxo too, do you have some feedbacks?

I am also considering banks that are not based in CH that are really cheap (compared to swiss standards)

like:

http://www.iwbank.co.uk/index.jhtml?...E=STOCK_MARKET

but in these days I think swiss banks are more reliable

did you find out if IB is swiss based?

cheers

J