Investing with neon? Neon invest

Investing / Brokers
64

Any thoughts? When does it start?

65

They “keep it a secret” (:roll_eyes:), but as the 0% fee promotion runs out at the end of this month, I guess they will launch it at the beginning of April/around Easter, so that there’s no gap.

66

I just bought their “all world” invesco ETF. It says at 5.69 (28.3)
All their graphs (day/week/year/whatever) shows a max of 5.66.
So that’s their way to make money? On BX I see that at some point it went to 5.69 though. So it’s their graphs that are misleading. Am I wrong? Are they showing the price I’d get if I sell?
(I guess is a newbie question. I’m not used to sell or even check so precisely)

67

Article about Neon and Invesco’s low cost savings plans (article in german): Neobank forciert europĂ€ischen Anlagetrend in der Schweiz
Apparently minimum investment amount is 1.-

According to the article, Neon expects 500k active savings plans in the Swiss market over the next two years (all providers). We will see about that, but a welcome development for sure.

5 Likes
68

Great News
 just activated the saving plan with neon on the FTSE All World of Invesco

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69

Neon can make this offer (with Invesco) more exciting by also offering tax credit reporting for „unrecoverable WHT tax in US“

This would make this very compelling

  • zero custody fees
  • zero trading fees for buying
  • you will still have fees at time of withdrawal
  • regular stamp duty (not their fault)
  • FTSE world ETF
  • tax efficiency
  • etax statement

Whoever opened an account at Neon, can you ask why don’t they consider offering tax credit reporting like Finpension? Read here

@Matchpoint

1 Like
70

Probably because up until a few days ago, nobody had ever thought of doing that? :smile:

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71

zero trading fees

Not zero trading fees. Just no purchase fee. You still have to pay a sale fee of 0.5%. And so, I think buying FWRA@SIX with Flowbank is still less expensive (although more cumbersome).

72

We’re talking about the neon savings plan. Through that, there’s no 0.5% fee for the FTSE All-World ETF.

When buying this ETF through the savings plan, the only fee you’re paying is 0.15% stamp duty.

73

Don’t forget zero fees for the eTax document.

74

Read it better. It’s 0 fee when buying. Selling still costs.

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75

Again: I’m talking about the savings plan. You can’t sell through that.

Outside of the savings plan, you’re better off transfering the position to e.g. SQ and sell it for CHF 9.

76

I see. I didn’t realise that at time of exit there is a fees. Good to know.

77

What does it mean? How can one withdraw money from savings plan? There is zero fees or 0.5% ?

78

Good point. I edited my original comment

79

The savings plan is only for buying. You can’t e.g. setup a 4% FIRE plan where every month, 5k of your portfolio will be sold.

If you wan’t to sell, there’s a 0.5% fee. For small amounts, that’s fine, but it can get expensive fast. So the better option is to transfer to another broker, which costs CHF 100. Swissquote regularly has an offer where they reimburse you any transfer costs. There you can sell it for CHF 9.

80

Got it. I think 0.5% is a bit steep. This fee should gradually reduce as well over time or else Neon won’t make sense for large amounts

Or else people will be forced to transfer equities out to other brokers to sell.

81

Then it’s me that need to read better.
You should be able to sell, the question is when/how.

edit:
I still didn’t find anything about “stopping” the plan or any other form of selling what you’ve bought. Weird.

82

The fee structure makes it clear what their target group is.

Worst case at some point they don’t allow anymore to transfer your portfolio to another broker, and you’re sitting there with 100k in an ETF that you can only sell for CHF 500.

83

Where can you see that you can transfer your portfolio? I didn’t find it in their fee structure.