Which broker do you use to trade EU(German+French) and Swiss stocks?

[neutralname]

Hi Mustachians
IBKR is cheap to trade US stock but for Swiss/German stock it seems the fee is 5 CHF/Euros minimum for up to 10k CHF/Euros stocks and this is much more expensive compared with US stock trading

For US stocks I can buy with dollar-cost averaging and gradually close my position even with small amounts but I am more reluctant to do so with EU/Swiss stocks as the fee is at least 5 times high.

Thanks

[Dr.PI]

Flatex broker review

It is already more than 4 months since I have opened a brokerage account with Flatex, and, as I promised at some point, I would like to share my experience with the community. In short, I think it qualifies as a mustachian offer for Switzerland-based investors. Pros: 0 custody fees for ETFs (0.1% p.a. for individual stocks); 0 brokerage fees for ETFs if buying via a saving plan. Huge amount of ETFs (I see 1352) that are saving plan capable. Cons: Nothing really, rather caveats. The accou…

[Dr.PI]

@neutralname

seems the fee is 5 CHF/Euros minimum for up to 10k CHF/Euros stocks

First, you probably should switch to tiered pricing. Second, check your activity statement for commission details. That looks a bit too high for me.

[neutralname]

Thanks a lot for @CHRad and @Dr.PI

@CHRad

you pay fees for dividends if you want to have a custody account), no multiple currency accounts etc…

Here you are talking about Degiro right? What is a custody account? I searched and only found parent-children kind of thing. Is it only for ETFs? Do I need one if I only buy individual stocks? (I only have a gold ETF for the moment)

@Flatex broker review

0 custody fees for ETFs

sorry I almost only buy individual stocks(only a gold ETF for the moment), so do I have to pay custody fee?

@Dr.PI

First, you probably should switch to tiered pricing. Second, check your activity statement for commission details. That looks a bit too high for me.

Thanks I will try to switch. I am pretty sure about the com because recently before buying/selling, I checked the “Preview” and I recently bought a Swiss stock and I saw the breakdown

I just checked my Trade report on that day and it’s indeed that amount of commission

[neutralname]

I just found this, in case anyone is interested
Yuh is offering free trading 0 fee till 30th June

[Guillaume_GVA]

In comparison of its competitors (i.e. Swissquote, Flowbank, Degiro). CHF 5 remains the cheapest you can find without having multiple brokerage accounts in multiple countries to save pennies.

[Dr.PI]

@neutralname

Here you are talking about Degiro right? What is a custody account?

I think you can’t open open one anymore.

@neutralname

sorry I almost only buy individual stocks(only a gold ETF for the moment), so do I have to pay custody fee?

Unfortunately yes.

[Dr.PI]

Commissions Stock Europe | Interactive Brokers LLC

CHF 5.00 is the Minimum per order for “Fixed - IB SmartRouting” pricing.

Sending limit orders with price below the market one can also decrease your commission on tiered pricing, because you add liquidity.

And in Trader Workstation you can select to which exchange to send your order. CHIXCH seems to be the cheapest one. That can push your commission below 2 CHF, which is below Degiro pricing.

[Daniel]

You might find the comparisons here useful:

Using Foreign Stock Brokers in Switzerland: The Pros and Cons

[neutralname]

Thanks a lot guys! Since IBKR changed fixed fee to 0.05% for Euro and Swiss stock, does anyone know if using fixed or Tiered is cheaper for order less than the minimum com?

I have read the IBKR European commission page carefully and also did research on older post, it seems it’s not that obvious, as tierced fee usually has a lower minimum com but it doesn’t include Third Party Fees ( Exchange Fees * Clearing Fees * Regulatory Fees) and its amount is never straightforward, makes a direct comparison difficult

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@CHRad

You probably use fixed pricing.

BTW @CHRad on your print screen, the com should be 1.5 or 3.4 CHF? I am always confused by such presentation from IBKR and 144.03-141.58 equals neither numbers

Yes I confirm I have fixed comm
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@Dr.PI

“Fixed - IB SmartRouting” pricing.

if we send to one particular exchange and not use Smartrouting, is there less chance that our limit order is filled if the price touches our level? say a buy limit at 50 Euros and the min price that day was 50 Euros. it seems it will be exposed to less exchange and have less chance to be filled?
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@Guillaume_GVA

CHF 5 remains the cheapest you can find without having multiple brokerage accounts in multiple countries to save pennies.

Thanks I get your point, but even the 5 CHF is a minimum and not a lumpsum. I checked my old tradeI had to pay more than 10 CHF comm for some of my trade in comparison to 1 USD for US stock trade. OK I finished complanining

[Dr.PI]

In my reasoning I was assuming that you are buying for a very small amount, like individual stocks you had shown. So your priority is to push down fixed fees as much as possible. If you want to send a buy order worth many thousands, it is another story.

@neutralname

if we send to one particular exchange and not use Smartrouting, is there less chance that our limit order is filled if the price touches our level?

Don’t worry. Your volumes are very small (even few thousands is a very small order) and there will be enough liquidity. Once the price for your stock will go below your limit on any exchange, friendly arbitraging bots will jump on your order.

[neutralname]

thanks, my order is generally 5k to 30k Euros/CHF
and it happened to me several times that my limit order was partially filled, maybe it was in USD stocks
that’s why I wasn’t sure by limiting one particular exchange if we have lower chance to have a fill if tje price touches the limit level but hasn’t penetrated it.

[Dr.PI]

So… Are we discussing that a commission of 5 CHF is too high for an order worth 200 CHF or 5000 CHF? If latter are your order sizes, switch to a tiered pricing and just send an order with default settings. I also recommend not to bother with limit orders and just buy when you decided to. But for technical reasons it is still better to send a marketable limit order with the limit price slightly above the current price.

[neutralname]

@Dr.PI

So… Are we discussing that a commission of 5 CHF is too high for an order worth 200 CHF or 5000 CHF? I

@neutralname

thanks, my order is generally 5k to 30k Euros/CHF

to rephrase: between 5k and 30k Euros and
between 10k and 30k CHF
but I do wish to make smaller orders

@neutralname

Since IBKR changed fixed fee to 0.05% for Euro and Swiss stock, does anyone know if using fixed or Tiered is cheaper for order less than the minimum com?

I have read the IBKR European commission page carefully and also did research on older post, it seems it’s not that obvious, as tierced fee usually has a lower minimum com but it doesn’t include Third Party Fees ( Exchange Fees * Clearing Fees * Regulatory Fees) and its amount is never straightforward, makes a direct comparison difficult

This was my question…

[Dr.PI]

To have smaller commission on small orders, you can use tiered pricing and play with order routings. But in general there is hardly a situation where tiered is not better than fixed.

According to the comparison link posted above, Degiro should be cheaper than IB. But considering that they sell your orders to market makers, I am not sure that total cost will be cheaper with them. Feel free to explore.