Saxo drops custody fees as of February 1st 2025

Baptiste Wicht

Baptiste Wicht

The Poor Swiss
Staff member
Hi

I am happy to announce that Saxo will drop all custody fees as of February 1st 2025. So, you won't have to allow share lending to get zero custody fees.

I will update all my articles and comparators to reflect that. But since I am in China, this will not be as fast as usual.

Since my secondary broker is Saxo, I am quite glad about this, this will allow me to save a little on my secondary fees.

What do you think about this?
 
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Thanks for this information.

If anyone wants to transfer funds from IBKR to Saxo it should be free of charge based on the information of Saxo and IBKR.

If you want to transfer funds from Saxo to IBKR, Saxo asks CHF 50 per position, no fees at IBKR for receiveing the positions.

Feel free to check&correct if needed.

Links:
Acats transfer:

Sonstige Gebühren | Interactive Brokers U.K. Limited

Gebühren für Kapitalmaßnahmen, Ausübungen und Zuteilungen, ADR/GDR, IRA, DTC-Transfers, hohes Risikopotenzial, RSP- und LEI-Gebühren, Gebühren
www.interactivebrokers.co.uk www.interactivebrokers.co.uk

Saxo bank:

Welche Kosten berechnet die Saxo für Wertschriftentransfers?

Für die Wertpapierübertragung von einem anderen Broker auf Ihr Saxo-Konto werden keine Gebühren berechnet (Einlieferung von Wertschriften). Die Wertpapierübertragung von Saxo auf einen Broker Ihrer...
www.help.saxo www.help.saxo
 
Isa said:
f anyone wants to transfer funds from IBKR to Saxo it should be free of charge based on the information of Saxo and IBKR.
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I am not sure this makes Saxo a very good alternative to IB. It's much cheaper now, but the fees of IB remains even lower in my opinion. Just avoiding the stamp duty itself is significant.
 
Baptiste Wicht said:
Hi

I am happy to announce that Saxo will drop all custody fees as of February 1st 2025. So, you won't have to allow share lending to get zero custody fees.

I will update all my articles and comparators to reflect that. But since I am in China, this will not be as fast as usual.

Since my secondary broker is Saxo, I am quite glad about this, this will allow me to save a little on my secondary fees.

What do you think about this?
Click to expand...
dear Baptiste,
enjoy your holidays in China, do you visit other Asian countries ?
 
Hi, i’m new into investing, would you recommand Saxo over Neon for someone who will use a swiss broker will only invest onth a month ?
 
Ayizen said:
Hi, i’m new into investing, would you recommand Saxo over Neon for someone who will use a swiss broker will only invest onth a month ?
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I would say it depends on your goals. If you are new to investing and just discovering it, Neon Invest is great and very efficient.

If you plan to reach a large portfolio and ramp up your monthly investment, Saxo may become more efficient (mostly thanks to US ETFs).
 
I have been using it for about 6 months now. I am not sure you can buy them.

Do you have an example of such fund so that I can search it? At least, if I search for Vanguard, I only get ETFs, not funds.
 
Baptiste, thanks for your reply.
For example US-symbols like this: BCV, BME, BUI, ETG, IFN, JEPQ, MCI, MXF, PEO, RFI and SVOL. => maybe if you can check them...

Idea behind them comes from Luis Pazos and is called "CEF-Blitzdepot" , he also wrote a small guide name of the book "Closed End Funds verstehen und bewerten"
 
gaijin said:
Just for my curiosity: why not using Degiro as your second broker?
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Multiple reasons :)
  1. I was extremely disappointed by how DEGIRO handled the regulations regarding US ETFs without any communication and simply blocking our ETFS.
  2. DEGIRO does not support US ETFs and I want to keep this option open.
  3. DEGIRO and Saxo have almost the same fees, the only difference is the stamp duty. $
  4. I do not like the fact that they lend shares by default without sharing the profit.
 
Thanks for sharing. I fully understand and agree.

I now regret having moved my mother over to Degiro and putting 20% of the European version of the Vanguard Total World in her portfolio. Yes, one year ago, Saxo still had custody fees. But now, it would be a much better option to go with Saxo then Degiro.
 
gaijin said:
Thanks for sharing. I fully understand and agree.

I now regret having moved my mother over to Degiro and putting 20% of the European version of the Vanguard Total World in her portfolio. Yes, one year ago, Saxo still had custody fees. But now, it would be a much better option to go with Saxo then Degiro.
Click to expand...
It's still much better to invest with DEGIRO than not invest at all. It's not a bad broker either.
 
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