What broker do you use?

What broker do you use?

  • Interactive Brokers

    Votes: 38 79.2%

  • Swissquote

    Votes: 8 16.7%

  • Neon

    Votes: 3 6.3%

  • Saxo

    Votes: 1 2.1%

  • Yuh

    Votes: 1 2.1%

  • FlowBank

    Votes: 0 0.0%

  • Others

    Votes: 11 22.9%
  • Total voters
    48
Hi,

I've been using Swissquote and Yuh but moving away from Swissquote to Saxo Bank due to lower fees and free tax statements at Saxo. Yuh, I've come to realize that portfolio transfer isn't available even from Yuh to Swissquote therefore I won't be using Yuh anymore. Saxo seems quite good an gives nice interest rates on funds.
 
@iCFO26 It would be great to know your thoughts about Saxo after you have been using it for a while. They have some very nice fees.

Thanks for sharing that you can't transfer shares out of Yuh, I should mention that in my articles.
 
Baptiste Wicht said:
@iCFO26 It would be great to know your thoughts about Saxo after you have been using it for a while. They have some very nice fees.

Thanks for sharing that you can't transfer shares out of Yuh, I should mention that in my articles.
Click to expand...
Yes, I've contacted Swissquote if I can transfer my Yuh portfolio to Swissquote (as Yuh is a joint venture between PostFinance and Swissquote) and they said it's not possible which made me think that I'm not the current holder of the equities which is similar to eToro Europe in Switzerland. Only US citizens can transfer their eToro portfolio to a different broker but for Swiss citizens it's not possible (I've tried that one as well :D)

Sure, I keep you posted on Saxo. I struggled a little bit with Swissquote buying UK stocks in GBp (not GBP). I didn't have that issue with Saxo though which I really like.
 
I started with Swissquote cause ... well it's swiss. Maybe not the best criteria, nor the cheapest one either but still far from the worst in my very amateur/beginner knowledge of treading. The only thing I try to optimize is the buying fees. Thus I crated an IBKR account just for DCA US ETFs (and some EU stocks but stopped that) on a lower fees and periodically transfer those to Swissquote at no cost.
 
Well costs are important of coirse but it in my view you should know who owns your broker... Saxo says they are Danish owned but... their danish shareholders are in fact a majority of Chinese... Geely who already owns Volvo cars... so as usual the Chinese government owns part of the company... it is in my view ethics have to be taken in consideration too...
 
itzilev said:
I started with Swissquote cause ... well it's swiss. Maybe not the best criteria, nor the cheapest one either but still far from the worst in my very amateur/beginner knowledge of treading. The only thing I try to optimize is the buying fees. Thus I crated an IBKR account just for DCA US ETFs (and some EU stocks but stopped that) on a lower fees and periodically transfer those to Swissquote at no cost.
Click to expand...
It may not be a mathematic criteria, but if you feel better about using a Swiss broker, it's important!
 
Baptiste Wicht said:
@iCFO26 It would be great to know your thoughts about Saxo after you have been using it for a while. They have some very nice fees.

Thanks for sharing that you can't transfer shares out of Yuh, I should mention that in my articles.
Click to expand...

Baptiste Wicht said:
It may not be a mathematic criteria, but if you feel better about using a Swiss broker, it's important!
Click to expand...
Legally a swiss broker is safer for swiss residents
 
written by you :
In Switzerland, Swiss Banks are registered with FINMA. FINMA is the supervisory authority. If you have cash in your broker account, it will be protected by Swiss Deposit Insurance.

For securities, FINMA forces banks to use asset segregation. It means that the bank assets are held entirely separate from the client’s assets. The bank only acts as a custodian. This segregation will be done for most assets like stocks, ETFs, and bonds. But it will not be done by investments directly from the bank, such as structured products.

And if your Swiss Broker is not a registered bank, it will use a licensed custodian bank to hold these assets in your name. In that case, it is more complicated to have the custodian bank go bankrupt than the broker going bankrupt since the broker holds no assets.

​

 
That only means that swiss brokers are safe, not safer than all other brokers. We have good regulations, but so do other counties. And there are foreign brokers which I consider as safe as Swiss brokers.
 
Max said:
I'd love to have IB as my sole broker, but they don't allow crypto for Swiss residents. Thus I use IB for stocks, and Swissquote (for storage only) and Bitvavo for crypto.
Click to expand...
Max could you pls explain what you mean by storage in Swissquote ? Do you trade with IB and transfer positions to SQ ?
 
Denis said:
Max could you pls explain what you mean by storage in Swissquote ? Do you trade with IB and transfer positions to SQ ?
Click to expand...
I trade crypto with Bitvavo and use SQ to store a part of it. Sorry for an awkward sentence.
 
I use IBKR for a few years now and very sattisfied. I also have a joint account with my wife and have setup 3 sub accounts for my kids. You just have to make sure to choose "tiered" as a pricing model, otherwise you pay a lot more.
 
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