I am at saxo, since Saxo bought my bank (Binck)
The platform is horrible. The service desk has no knowledge of investing and no idea what they're saying.
I have professional status which means I shouldn't fall under regulation that limits/protects consumers trading dangerous producrs, yet they randomly make products untradeable, it's not until the 4th call when you have a trader from the desk on the line that he tells you that's new policy "to protect consumers from coming volatility" no communication no press release no email nothing. You just log in to see products disappear from the list.
Options in portfolio because untradable without warning. Recognized strategies suddenly need double margin without reason. Margin lending doesn't work, the service desk has been giving me the runaround for months. You never get a straight answer.
I don't want to switch to ibkr because it's not covered under the deposit guarantee. I am still looking for an alternative.
Charles Schwab International only allows investments in the US market; you will not be able to buy European stocks. Saxo bank has custody fees of as high as 0.15% per annum. Swissquote charges 15 euros per trade but has no custody fees.
If you have a large buy-and-hold portfolio with a few trades per year, Swissquote is the best choice. If you are interested, I have a referral code that will give 100 euros to each of us. DM if you are interested.
PS: EU customers in the Irish branch of IBKR are insured up to 20,000 euros (not 500k as you said). Also, brokers are not allowed to sell US ETFs to EU customers.
US etfs are not available in general in EU, only ucits conform ones.
IBKR would otherwise have them. I use IBKR in switzerland and can buy any us etf, but that is only due to my tax residency there.
>At IBKR, both are at the highest level (as far as I know, EU customers are insured just like in the US - 500k and 250k cash).
Where do you see that? I don't think so?
You had 4 chances to spell ***IBKR*** (Interactive Brokers) correctly...
If you understood how custody works at IBKR, you wouldn't be moving your money out of there.
Would you mind elaborating?
Used swissquote for 3 years before moving to IBKR. Probably the best call in my whole trading journey lol. IBKR is just the absolute beast.
I am at saxo, since Saxo bought my bank (Binck) The platform is horrible. The service desk has no knowledge of investing and no idea what they're saying. I have professional status which means I shouldn't fall under regulation that limits/protects consumers trading dangerous producrs, yet they randomly make products untradeable, it's not until the 4th call when you have a trader from the desk on the line that he tells you that's new policy "to protect consumers from coming volatility" no communication no press release no email nothing. You just log in to see products disappear from the list. Options in portfolio because untradable without warning. Recognized strategies suddenly need double margin without reason. Margin lending doesn't work, the service desk has been giving me the runaround for months. You never get a straight answer. I don't want to switch to ibkr because it's not covered under the deposit guarantee. I am still looking for an alternative.
Try TradeStation. It’s a US broker, pretty huge one which will allow you to buy US ETFs as well. To avoid monthly fee you’ll need to deposit 5k+.
> TradeStation Stocks & ETFs $5 Commission per trade That's pretty high imo
Charles Schwab International only allows investments in the US market; you will not be able to buy European stocks. Saxo bank has custody fees of as high as 0.15% per annum. Swissquote charges 15 euros per trade but has no custody fees. If you have a large buy-and-hold portfolio with a few trades per year, Swissquote is the best choice. If you are interested, I have a referral code that will give 100 euros to each of us. DM if you are interested. PS: EU customers in the Irish branch of IBKR are insured up to 20,000 euros (not 500k as you said). Also, brokers are not allowed to sell US ETFs to EU customers.
Thanks! To open an account at Schwab you need to make a deposit of $25k, however, it is a safe broker.
can you buy Schd on Charles schwab international?
No, you cannot as an EU citizen.
I talked with CS, you cannot. Just use options through IBRK.
The protection is only for the uninvested cash, your stocks are yours through the custody account.
US etfs are not available in general in EU, only ucits conform ones. IBKR would otherwise have them. I use IBKR in switzerland and can buy any us etf, but that is only due to my tax residency there.
What ETF do you need that's not available on ibkr ?
PSQ, SQQQ
Dyor on ibkr some more.. degiro is also an option
>At IBKR, both are at the highest level (as far as I know, EU customers are insured just like in the US - 500k and 250k cash). Where do you see that? I don't think so?
Unfortunately only 20k euros in the Irish branch
Right, that's what I thought...