Sure simpler. And often less expensive in fees.
It’s worth keeping in mind that many countries will tax realised capital gains upon selling - though not Switzerland.
1 Like
Just a general comment about that.
This year, a platform in Latvia, Grupeer to be precise, stop paying back our money and still they have our money. Some will be lost for ever… 
Has been proved that was a semi-scam.
When everything happened, I was thinking… OK. Money lost. I’m not going to take a lawyer in Latvia, is far from here, expensive, etc…etc.
But, slowly but surely, people start moving! Started with a small telegram group (when I joined we where 200) where we were just crying and insulting the company but more people were coming, a lawyer from Spain, another from UK…all in the same boat.
Finally we managed to start an association, find a very good lawyer company in Latvia and start suing those people!!! We are more than 2000 people and managed to get more than 200kE for the lawyers. Grupeer are not going to run from us.
All that to tell you that if I did that for 10k… Imagine for more than 500k that I have in the US brokers!! 
People close to Latvia, knowing the language and close to the scammers have join us in the international group!!! That proves that isn’t important if you have problems in Switzerland or outside… It’s important the number of people together in the action agains the crime.
6 Likes
Well, the more people were screwed, the more money in total was lost, so whatever you will recover, will probably not be much. And the fraudsters probably fleed the country and are nowhere to be found. Or the company is registered to a homeless guy. In any case, cool that you didn’t let it go and I hope some justice will be served.
I didn’t join those lawsuits as it’s not usual to pay upfront but instead give them a percentage of the money they can recover. You probably gave the 200k Eur to some other scammer instead…
I don’t know any lawyer that works like that. Having a bonus attached to the recovered money, yes, being paid only with the recover?? We didn’t find any.
You will only find that kind of model in standard lawsuits where rate of success is high. For instance to get the money from airlines when they are late or similar.
For riskier stuff like this one this will be not the standard, since the rate of success is too low, and also the final amount which is possible to get unknown.
Cheers
But what lawyer asks for 200k EUR before starting to work? That seems strange to me. I also didn’t feel comfortable disclosing my personal details with some random strangers.
I’ve worked in a Civil Court and the amount of 200’000 CHF isn’t something exceptionnal.
To give you an example, in Geneva, if your Value of Dispute is more than 10’000’001 CHF, you will have to do an advance payment of cost of 100’000 CHF up to 200’000 CHF just to open the case (after the conciliation) ! In addition of this amount, you will have to pay your lawyer who fixed himself his price.
In conclusion, it will cost you probably more than 100’000 CHF to claim more than 10’000’001 CHF.
as a suggestion in IB, you can have 1 account for both at 50% each.
You will reduce the maintenance fee cost until you reach 100K
1 Like
Hi Broth we opened already a Joint account today;) thanks for the advice.
Someone knows the price of the commission if for example i buy 6000 chf of VWRL in CHF(EBS/SIX) via IB?(just to compare the fees with Degiro).
Should be about $0.35 if you are using tiered fees
1 Like
When I buy 10k on SIX, I pay 6.38 unless the order is split. In this case, it usually goes to 8-9
1 Like
The best option is to use Tiered price right? thanks
Ah my bad, maybe it will be more expensive on SIX, I usually buy on US exchanges.
Yes, but be aware that if the execution is split in a very improbable high number of transactions, it might cost a bit more in your case.
I’m sorry for polluting with something not relating with the initial question.
I didn’t say that we paid 200kE, I said we managed to get more than 200kE all the people together.
I cannot disclose how much it cost or we paid to the lawyers (case is open) but until now we paid much less than that.
The lawyers sent already insolvency warnings to everybody in the affair, and more than 1600 applications have been sent to and received by the investigator. Practically all of us we have been doing that with QES signatures review and sent to the investigator by the lawyers.
The global value to be recovered is more than 16 MEur so, I think they are doing a lot of work for the money we are going to pay.
If somebody has problems in Latvia, I recommend them: Ellex Klavins
With IB & fix, SIX trade costs 0.1% but min. CHF 10 plus (probably) the stamp duty.
According to wikipedia class action suits do not exist in Switzerland: https://en.wikipedia.org/wiki/Class_action#Switzerland
If that is true suing in Switzerland is going to be much, much more expensive.
Beside some exception (consumer litigations, UWG), there are no class action suits in CH.
I would disagree that the lack of class action suits increases the costs for (civil) litigation. In a case like this, you^d go to the local police (or directly to the cantonal prosecutor) which investigates and you‘d be a privat plaintiff in the proceeding. If the criminal judge doesn‘t directly award you with the damages you incurred, the material gathered by the prosecutor pretty much determines the outcome of your civil litigation case, so the risk of losing is greatly reduced.
1 Like
Hi, so i already set a joint account with my GF with Interactive Brokers and we will invest monthly in the ETF VT-ARCA(usd) until is allowed (probably the 1.01.2022) and then we will continue with the same strategy with the equivalent VWRL (EBS)(CHF).
I have some questions concerning IB:
- We can have multiple cash account currencies with IB?
- When we receive USD dividendes from VT they will be sent to the cash USD account or they will be automatically converted and sent to the CHF base cash account?
-The same with the dividends from the VWRL?
Thanks