Was curious to know from anyone that would be willing to share her or his experience with investing via Charles Schwab UK in a “Schwab International Account”. It looks like a decent option if I got that right:
- no custody/account fee?
- 5$ per trade plus apparently an “Exchange Process Fee”, but I think IB might have that too
PS: Assuming that you’re transferring USD there to avoid their hefty 1% FX fee (and ignoring some other fees like 25$ cash wire out fee, or the 50$ account closure fee)
PPS: And it’s 25’000$ minimum balance
Anyone would be so kind to share experiences with Schwab UK/International Account?
The issue I see with Schwab: It’s really expensive to transfer USD directly from a bank in Switzerland. You will need to go trough IB.
You also have a minimum of 25k.
yes, that would be the plan.
yes, it comes only after the stash is at a certain size and probably after the IB portion is over 100k.
Is it possible to transfer money from IB to a generic IBAN (not your own account)?
I don’t think so. Does Schwab not give you a personal IBAN ?
true. then i dont think the IB trick would work
There is a form to request a transfer to an account that is not yours. But you have to state a good reason for that, and they have to manually approve it. It’s because of money laundering reasons I guess.
Schwab UK accounts aren’t available in Switzerland. You’ll get an account with Schwab USA.
0% commission now, same as a few others