We have a great forum here which is great. I have a friend who moved to uk and would like to invest. He still has his postfinance account.could he invest in ch if he doesnt live here anymore and if not, are there any mustachian resources for london.he needs to learn how to start: which broker, how many times to buy etc.
Thanks:).
I am also moving abroad and I asked postfinance if I could trade using their platform but they told me that if your official domicile is not in Switzerland, you’re not allowed to use their trading service.
As far as I know, CornerTrade does not have this restriction.
I don’t know much about mustachianism in UK, but I think the cheapest option there would be IB + Irish Vanguard ETFs.
I remember that a guy from PopUp Business School (who’s British) in the interview with Mad Fientist recommended this website for UK-based Mustachians:
Yup, I asked CT about that and they told me that all they need is my new address.
http://monevator.com is an excellent resource for UK-based investors.
In the UK there are some tax optimisations that are usually worth maxing out before investing in a “regular” account. The two obvious optimisations are ISA (basically you pay no tax on what’s in an ISA but you can only invest a certain amount every year) and SIPP (kind of like a 3a with full flexibility in what you actually invest but less flexibility for when you cash out). This is especially important because taxes are generally higher. But even without considering the tax levels themselves, it greatly simplifies the paperwork as you don’t have to report anything about these accounts to the taxman (well, mostly). However these type of accounts are not available with IB so it’s not the obviously correct broker choice.
There is much more competition wrt brokers, funds and banks in the UK compared to Switzerland so it’s often worth re-evaluating what you use every year or two and switch to chase the lowest fees. This also means current accounts that can have high interest rates for the first few thousand GBP or for the first year for example.
See also:
http://monevator.com/tax-efficient-investing-uk-order-isa-sipp/
http://monevator.com/get-an-isa-life/
http://monevator.com/compare-uk-cheapest-online-brokers/
http://monevator.com/maximise-savings-rates/