IBKR(VT) vs Neon(FWRA)

I might have used terms incorrectly.
But I own VT and I see 15% deduction every time I get dividend and I claim it back

Any broker can change their fee structure in the future, fees may increase at IBKR too.

Neon has no custody fees so if their buying/selling fee structure changes, you can still keep your FWRA shares with them indefinitely and open a new account at a different broker for further buying. If you invest only in FWRA (1 position), transfering the position out to whoever your new broker of choice is shouldn’t incur make or break one time costs if you want to close your relationship with Neon.

This is not to say Neon is better than IBKR in any way (nor to say it’s worse, I think the criterions for that assessment are partially not financial and very personal), just that choosing a broker based on an anticipated evolution of their fee structure is a tough endeavour.

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I use IBRK (US entity) for purchases and once I hit there e.g. 200k, I transfer it to a swiss bank.

Best of both worlds.

Yes that’s the main advantage.
But for some this is very important.

My experience is that at some point in life, with higher asset value, return of investment becomes more important than return ON investment. And some people believe more in local players than a foreign player. That’s all.

I am not suggesting that for you Swiss bank matters. I am just saying you are right “that is the main value proposition” vs IBKR.

@assemblyrequired did quite some math and you can choose for yourself what cost you are willing to pay for Swiss broker.

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It’s a promotional campaign. Most likely Invesco is funding a part of it as they grow their AUM. I think earlier it was valid for few months and then extended. You should keep both scenarios in mind (0% forever or only limited time)

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I would say their main selling point is ease of use: get one app and do all your banking and investing with a few swipes. It may or may not have value for you (it doesn’t for me).

As for swissness, a neo bank isn’t where I would personally go if my posture was that I’m willing to pay more fees for expectations (actionable word) of safety (which it is).

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For people who own NEON account, can you ask them if they can provide tax credit documentation (to recover US withholding tax) for FWRA similar to Finpension? Finpension provides this for ishares ETFs. Since they have partnership with invesco anyways , they might find it not so difficult to execute.

Finpension tax credit

I don’t have account with them so I don’t know how to contact them. I saw their contact us form requires use of registered email.

They confirmed on their blog that Invesco is paying for transaction costs. They’ll most likely introduce fees when Invesco deems their AuM large enough.

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Until you sell.

This will be a topic in +30 years.
Assuming, we have the same fees as of today, I will just keep a batch of 200k at IBRK and sell whenever I need the money.

Securities transfer from IBRK to a swiss bank was done within four business days.

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