Interactive Brokers inbound transfer position (from Swissquote)

Investing / Brokers
21

Hi everyone!

I’m new and I have some questions about Interactive brokers.
Now I have Swissquote but I’m frustrated with too expensive fees.

My questions is:

IB is not in Switzerland isn’t? In switzerland capital gains are fully tax-free. With ib it’s the same ? only if I buy for example Switzerland ETF?

Thanks

22

If you are considered as a Swiss resident for tax purposes, you will be taxed accordingly, which means that capital gains will be fully tax-free as long as you do not qualify as pro trader.

Note: Tax residency is all that matters.

2 Likes
24

Hi there,

I also would like to transfer my positions from Swissquote to Interactive Brokers.

However, I am not sure what should the ‘name of the bank’ on SWISSQUOTE be.

The bank I normally transfer the money to IB (citibank) or IB itself?

Interactive Brokers LLC
One Pickwick Plaza
Greenwich, Connecticut 06830
United States

or

Citibank N.A. London
41 Berkely Square
London W1J 5AN
United Kingdom

Thanks for your help!

25

Don’t you have to declare the incoming transfer in the IB account?

I’d ask customer service if unsure. I heared that securities that get lost in the transfers are given to charity :laughing:

26

Hi ChickenFat :-),

firstly thanks for replying! I appreciate.

Secondly, I already initiated a position transfer (IB) and got a document which I printed and sent to Swissquote.
Few days later, Swissquote contacted me and asked to fill their request form which I also did.

On the form, I put ‘citibank’ but also next to my safe custody account number ‘Interactive brokers’ though.

This apparently confused them and they asked me to confirm either citibank or interactive brokers.

As a result, it got me thinking and confused :smiley: as well