I thought it would be interesting to have a thread on costs/details on using different brokers (e.g. Interactive Brokers, CornèrTrader, etc), provided by people who’ve used them in the past and therefore have good first-hand information. If there is additional information you’d like to see listed, just let me know. I’ll start off by adding my current broker, CornèrTrader:
Cost of funding trading account:
- Swiss transfer: none.
- International transfer: unknown.
Transaction costs: 0,2%, 20CHF minimum (for accounts under 75’000CHF under management), 0,12%, 18CHF minimum otherwise.
Handling of dividends in USD:
- client has no USD account: will be credited in CHF using the following conversion: spot price + 0,5%.
- client has USD account: will be credited directly in USD.
Getting the money out (e.g. wire transfer of dividends):
- in CHF: no commissions/fees on wire transfer (also possible using a debit card issued by CT, 50CHF/yr).
- in USD: possible to transfer to a USD account at another bank (e.g. free PostFinance USD account), no fees.