I am planning to transfer 50K from France (FR) to CH using IB broker.
Transfer funds to the IB convert them to CHF and then transfer them to my Swiss bank account.
I know I can transfer from FR bank directly but with the fees and exchange rate, it seems too huge of a loss.
Can anyone recommend anything better?
Thank you in advance.
Probably no better than IBKR.
You could check how much would Wise cost - IBAN to IBAN.
Thank you.
I also found out that Revolut and Wise do have better rates than banks.
Note that if you don’t actively use IBKR otherwise, this might make them unhappy.
No, you won’t find anything better for this amount.
5 posts were merged into an existing topic: Interactive Brokers Q&A [2023]
Thank you for your feedback.
I ended up going through IBKR and it was quick / low fees.
Huh. Now let’s see if you get this kind of message
https://forum.mustachianpost.com/t/interactive-brokers-q-a-2023/9780/41
Can I ask how cheaper was it with IBKR vs Wise?
Or if you can share the fees you had with IBKR (given the current exchange rate).
Thanks!
Isn’t the IB fee ~2 USD 
(the spread is so small between popular pair it’s unlikely to matter, I’m seeing a 0.01% (1 bp) difference between bid and spread).
You’d lose roughly 112 CHF when converting 1M back and forth (if you manage to do it simultaneously so that the rate doesn’t change).
Yes, up to 100k the commission is a flat USD 2 and the spread is indeed very small for major currencies.
For currency exchange > USD 100k, the commission is 0.002% (0.2 bp).
I assume nobody here cares about commissions for a monthly trade volume of more than 1 billion dollars 
Why not wait a few more minutes for the rate to move a bit further in your favour and you gain money?
And do that repeatedly, automate it and get passive income (you can even leverage your strategy )
Yes of course. Transaction from FR bank to IBKR (German account number) 0 fee.
I did the daily exchange rate of the market. Rate was the same compared to market, I didn’t lose any money.
Withdraw fee was 11 Euros.
I did recieve an email from IBKR regarding the trasaction and if I continue they might suspend my account.
Overall way cheaper than the other two.