I enhanced the instructions for IB from @Bojack with inputs from @hedgehog. I want to be sure that I am going to do the right thing. Please comment if there are errors or better ways.
Signup Process
- Use the “Interactive Broker” Link in Sidebar to Signup and support https://www.mustachianpost.com along the way
- If you are married choose account type Joint … Survivor
- Tax identification number is your AHV Number (for swiss residents), enter it without any special characters to get it accepted
- Make a margin account instead of an cash account for faster transaction settlements, but cover negative positions quickly
Configuration
- Account Manager > Settings > User Settings > Statements Delivery > Daily Trade Report (Email with Attachment). The other two are already enabled. That’s how you keep a copy of everything you trade
Deposit
- Login into “Account Management”, make a Deposit under Transfer & Pay > Transfer Funds > Deposit (use CH IBAN to avoid transactions costs)
- Check if your money arrived
Exchange CHF to USD
- Login into WebTrader or in Account Manager click Trading > WebTrader twice to open it
- Check your Balance
- Click on Forex Tab under Order Management, enter CHF, look for CHF.USD
- Enter the amount (Quantity) and choose SELL (Action)
- Switch “Order Type” to MKT
- Exchange is IDEALPRO (I can’t choose something different)
Looks like this
Here I get a Warning that my order is below 25K minimum.
How do you proceed? You press ok (will be paired with other small trades). After that you see your USD under Account > Market Value.
BUY ETF
- To be able to purchase Vanguard VT, you need to have the permission to trade US Stocks. Go to Settings > Account Settings > Trading Permissions and configure it to include US Stocks.