It‘s just Saxo. You could never trade them there. Nothing has changed legislation wise.
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Well I have moved to IBKR anyway and have VOO there, but no, up until this morning I did not see the KID warning for these specific ETFs on my watchlist. I did see them in various places before. Maybe they just made the warning explicit, when before you had to click on trade and then get an error.
I think that‘s it. In their advertisements on instagram etc., they make it seem like you can buy us etfs, and maybe lots of people asked support all the time.
Pretty stupid of them, but they just wont get business with me, if they think they must apply EU law to Switzerland.
I did check on this. One can buy US ETFs if they sign the form to be a professional client. Otherwise No.
And it seems to be Professional client one should have either specific work experience, education or have made multiple large transactions (10,000 CHF) per quarter for the 12 month period.And disposable assets of 500K.
Saxo Bank, the Rolex AD of brokers. Buy expensive stuff you might need, before we let you buy the stuff you actually want.
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These are the MiFID criteria, which apply to EU/EEA but not Switzerland. Swiss law (FIDLEG) has slightly different criteria to be classified as professsional client (but that classification isn’t needed for execution-only). So much for Saxo Bank Switzerland being a Swiss bank.
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I use google Authenticator for code generation with Saxo. You could also configure faceID recognition with the App.
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I believe they show both buying and selling commissions . Latter is only applicable at time of sale. Same for stamp duties
The custody is now free of charge if you activate securities lending (I haven’t looked into the subject yet and I’m not sure what risks are involved. There is a risk disclosure available).
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Doesn’t seem to work for me, the line item they show in the screenshot just isn’t there.
They compare themselves to Interactive Brokers and say that IBKR doesn’t waive custody fees when doing securities lending, but IBKR doesn’t even have any custody fees to waive in the first place.
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Well, they also claim that you need to have a certain minimum invested at IBKR (and you dont need at Saxo). This is also not true.
This comparison table on their website looks very untransparent if not even deceiving to me.
It was like this in the past, maybe the comparison is just really old xD
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This. When I opened an IB account some 10 years ago, it required minimum 10k of assets and IIRC they charged some 10 per month for accounts below 100 or 500k in assets. The fees could be offset with commissions.
Already back then, some resellers waived the 10k minimum to attract small or starting retail-investors.
Anyway, IB became much more accessible for those in the recent years.
On securities lending, IB seems much more transparent on their web page on how fees are generated and split. Same for margin lending or interest paid. Way to go for Saxo 
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I came across this article mentioning that Saxo is looking for a buyer. Saxo, Kaleido: Banken-„Sterben“ unter den Kleinen – Inside Paradeplatz
Is this something to be worried about in your opinion? ETFs should be protected in case of an unexpected bankruptcy, correct?
Yes. Securities are yours, not Saxo’s.
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Worried to lose your assets, probably not. Worried, that there might a mess coming up, with your assets blocked for a few weeks, yes.
I always thought, they are a bit shady with their Chinese investor.
Wow -: First Flowbank, then Saxo. Life is indeed getting tougher for smaller banks.
But Saxo manages more than 100 Billion Euros. It’s not that small in my view. Swissquote has 60 Billion or so I think.
I wonder what is the issue.
It’s just that Geely is not interested in European banking or there are financial issues?