Under IB LLC is what they’re telling
Yes, segregation is also of course required in the US. And there’s the SIPC insurance, a concept most countries don’t have
No, under broker’s - in the electronic records in the computers of a central depository like DTCC or SIX, and then broker has its own electronic records that you’re the ultimate owner, that’s how it works
Unless you’re rich enough to afford to buy yourself a small bank and deal with a CSD directly…
(Or another alternative for cash strapped and truly paranoid is DTC’s Direct Registration System)
Eggzactly
Well, I personally consider the forex (0.5+% savings) and lack of stamp duty (0.15%, times 2 for when you sell) to be also quite big advantages of IB. Let’s say you want to be investing 100k every year - you’re looking at spending 800+ Fr in these two charges alone at swiss brokers. On top of already draconian broker fees