Is there a significant advantage to change from DKB to IB broker when living in Switzerland?

Hello everyone,
Would there be significant advantages (taxes or otherwise) to change from DKB broker to IB or to do new investments with IB?
If relevant, I’m holding stocks and stock ETFs, planning to invest in ETFs.
Thanks in advance!

*Edited to add significant.

Probably, hard to say without frequency and currency of transactions.

Currency exchange is usually 2usd.
Transactions 0.33usd.

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Both, especially IB, were discussed enough on this forum. I suggest to do your research first and then ask specific questions if you still have some.

Also check MP and poorswiss blogs.

So it seems trading costs are low at both, IB currency exchange seems great (simpler and cheaper than passing by wire/revolut to get euros I think).

I’m wondering if there are other relevant implications I might not think about. Tax implications maybe?

You can search and find threads on how to do tax declaration with IB on this blog and forum.

Why ask any question about banks or taxes at all on an internet forum when all the information you’d ever need can be found in the banks terms and conditions and everything about taxes can be found in international, federal and cantonal law?

I think people are usually hoping that some other person knows more about the subject and would be willing to share.

And sometimes they are not sure if a subject warrants further research at all.

Both is true for me in this case.

(Maybe the title was too broad and incited “do your own fucking research” answers. I clarified.)

I have stocks & ETF’s at IB, but no (relevant) experience with DKB.

There’s no tax implications between IB and the usual Swiss brokers IMO, so I doubt there’ll be between IB and DKB.
One positive point re IB and taxes, is that I’ve used the IB annual report a few years now for the tax declaration (just one line including stocks, dividends & wht and attaching the Annual Report), whereas almost all Swiss brokers will charge CHF 100 - 250 for such a “tax” report.

Thank you @rolandinho
… yes DKB luckily generates such documents automatically at the end of the year (yet to see if they are ok for the Swiss tax office but one holds ALL the information about stocks held and their value at the end of the year and another document with the details of all dividends and interests payed as well as Quellensteuern withheld).

Sure. This community did it hundreds of times.

You can also try statistical approach:

  • I am using Interactive Brokers
  • I am using DKB broker
  • I use neither
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The answer to your question is:

For me definitely: multi currency account, lower fees, excellent FX exchange conditions, access to US ETFs.

For me, I’d add access to more exchanges like HK, tools and market data (desktop app, charts, fundamentals and research info), far better UI, recurring investments and sub-accounts. (Transfer)Wise integration. Security wise, be it DDoS or breach, I trust IB far more than DKB - and I’m a customer of both. In a market meltdown situation, I trust IB to be more resilient than most other brokers, we have seen 2020 Covid crazyness when IB remained, if I recall correctly, full operational.

Thank you this is helpful. I’ll look further into it but with no urgency then :+1::+1:

I agree with your conclusion, but in those cazytimes, on a day or two, IB did prevent me from buying more Gamestop though (had I wanted to, which i didn’t). #neverforget :wink:

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For investing ETFs: both are relatively cheap (as long you’re investing in a fund that’s available discounted and/or as a savings plan at DKB).

IBKR undeniably offers much more - and many things cheaper.

…in the U.S.

As resilient as a boring quasi state-owned German bank? No way, with all the margin, security lending and short selling they’re offering. Personally, I’d sleep better with my holdings at DKB.

IBKR has proven that during the GameStop craze.