From the word proxy-voting, I guess the shares are registered not in my name. Of course this doesn’t usually matter, except in the corner case that I want to get some Free Shareholder Swag in CH without physically go to the AGM, proxy-voting may not work. T_T
It would be nice if someone has a first hand experience in this regard.
In a podcast (FinanzFabio), Saxo Switzerland said that entries in the share register will be possible from sometime in 2025. This does not seem to be the case at the moment. However, given the way Saxo is currently advertising on social media, I am sure that someone will notice and post here as soon as it is possible.
I am using them for a good year now for a buy and hold strategy (various ETFs). I have never had the need to contact customer support, which is a good review I guess.
I do like their UI. Especially their transparent display of trading costs and cost of product for a selected time period, which is a nice gimmick.
Transfer of funds works perfectly fine with a personal CH IBAN, as one would expect from a swiss broker/bank.
TL;DR solid broker, no issues as a swiss investor.
I am with them since 4 years now in buy and hold position with etf and 15 stock picking.
I never had to call the support.
I cannot really complain.
I know from a French forum that they have made lots of issues after Binck purchase and support was not so good. It seemed better now but the French tax report is still off.
No, since I don‘t hold individual shares I never had this issue. However, they have a detailed article on how to vote or register for an AGM as a swiss customer (sorry, seems to be only available in german…):
Just another thing to consider about Saxo. Saxo uses Citibank as custodian https://www.businesswire.com/news/home/20110208006088/en/Saxo-Bank-Group-Appoints-Citi-to-Provide-Global-Custody-Services . I got a confirmation from Saxo that this is still the case. Although there is some ambiguity about what custodial services really mean, the article talks about cash and fixes income instruments. But it seems that Saxo does not have direct accounts at depositories like US DTCC or German Clearstream.
That might mean that UCITS are custodied at Citibank, which is an American entity. I wonder if UCITS held on Saxo fall under US jurisdiction via Citi. Might not be the case if for UCITS an EU entity of Citi is used. @Dr.PI@Your_Full_Name any insights on this?
They have been good. I had one ETF that was delisted, it took a while but after I asked what was going on they solved it quickly, and then I transferred some to IBKR and that worked really well, too. Otherwise had no need to interact with them.
How should I interpret the fact that Safra bought a controlling stake in Saxo? Is it a positive development? Do you expect Saxo to move a notch or two up on the scale of trustworthiness?
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