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.
Anyone using Saxo bank and have a longer term experience with respect to Services & customer service (in case of problems) ?
I know all about fees etc but would be curious to hear about actual experience of using the platform from Swiss investorâs perspective
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.
Thanks for clear feedback
I guess itâs a EU/MIFID requirement which they implemented for CH customers anyway.
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.
Have you tried registering for the AGM of the share you own? Or that is not your concern at all. ![]()
No, since I donât 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 germanâŠ):
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?
I would find it strange if European bank is storing UCITS ETF units in USA.
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.
I initiated a transfer of one position from IB to Saxo. Itâs taking much longer than SQ but letâs see
Otherwise everything seems fine
Saxo is no longer owned by a Chinese entity, but letâs see if Safra will keep these prices: J. Safra Sarasin Gruppe ĂŒbernimmt Saxo Bank
Thanks for sharing
The CEO remains unchanged - thatâs good
I think now Saxo is clearly the best Swiss broker from my perspective ![]()
Swissquote would need to catch up with prices. They are not very far off though. Main difference is custody fees
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?
I think if nothing it should become more Swiss (whatever that means)
But for me itâs positive
Oh man, thatâs sucks ![]()
I hope you get your shares available again, soon.
When being in contact with Saxo couple of months ago, the contact person made some promises, that they were fast and US ETFs could be traded without any problem.
Well, they were insanely slow with the opening process and after getting the account, I saw, that US ETFs are only available for professional clients.
Item, for some Saxo is a very nice option (especially now, where there isnât a CN owner behind anymore) - unfortunately, for me itâs not the case.
It seems they would move them next week. Not sure what took so long.
You canât trade VT as a normal client ?
My account opening a few weeks ago was completed within ~24 hours and I can see VT and also open the buy dialog (havenât confirmed though by actually buying VT shares).