IB account setup

Hi everyone,

At the moment I use a Custody account with Degiro, is there an equivalent option with IB?
Would you recommend any other account type with IB, assuming my activity will mostly consist of 1 monthly purchase of an ETF ( SP500 or VT)
Can I link multiple bank accounts to IB for deposit & withdraw purpose? ( mainly I have 1 CHF and 1 Euro account with PostFinance)
Also, how does IB base currency work? Is any currency automatically converted to base?

Thanks !

The regular IB account is fine for your purposes I think

Yes, but probably does not make a difference

You can chose your base currency other than USD, but still you will trade in USD, however some balances will be shown in the base currency your choice. Any currency you send there will show up as it is arrived but you need to convert to USD in order to trade.

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Dear Mustachian community,
I’m in process of opening IB account, currently on Regulatory section page.
Wondering why only Europe is available as location for Mutual Funds (please see screenshot)?

Does it mean I cannot buy VTI or any US ETFs?

Thank you in advance for your suggestions.

No, you’re fine you’ll trade ETFs.

VTI is not a mutual fund but an Exchange Traded Fund (ETF), that is included in the Stocks category (so you’ll be fine, as @nabalzbhf mentioned above)

Thanks for the responses.

How about joint account?

The system did not let me use same taxpayer number for both primary and secondary account. As married couple we have one number.

What did you put in “Identification Number” line under Tax Residency?

Have a nice day!

The tax id number is your ahv/avs number, not your cantonal number.

That should be due to legal restrictions on what they’re allowed to advertise and distribute, according to your residency and customer status.

As the others have said, it doesn’t affect exchange-traded products (yet).

I think it is not directly related to these EU advertising restrictions. US mutual funds are usually only available to US residents for various reasons including taxes (and also maybe to avoid some foreign regulations).

Hello everyone,
Just get back to my IB account setup.
Has anyone opened Joint Account for married couple ? If yes, what type did you choose?
The one that I am considering is called JOINT TENANTS WITH RIGHTS OF SURVIVORSHIP, however it is mentioned in the application that it may have some tax consequences in the event of death of one of the parties. Do you know what are these tax consequences and if they would apply to Swiss residents?


Thank you for your comments and help,
Peter

That’s the one I used. Should not have tax implications for CH citizen afaik.

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