Why using 2 different brokers for personal and business accounts?

Hello everyone,

I often see investors using Saxo Bank or other banks to invest in ETFs in their personal accounts and using IBKR to invest in ETFs for their business accounts through their company.

Besides diversifying risk, what is the reason for having two different brokers if one is already the best? Why not have two separate accounts on IBKR for personal and business use?
Fees are cheaper in IBKR compared to banks…

What do you think?

Thank you for your view.

Where do you see this often?

Apart from diversifying assets between brokers, I don’t see a reason for splitting.


By discussing with business owners about how they invest etc.

Then why did you not just ask them? There are not many business owners here on the forum.


One major difference is that many brokers (PostFinance, cash.ch, degiro, etc…) do not open business accounts because it is a huge hassle with all background, AML & KYC checks. Others do, but charge more for them (e.g. Swissquote where you need to pay 0.1% on your whole account balance vs. only on the first 200k for private customers) and you almost always have minimum deposits of 100k or more.
These factors may change the choice for the ideal broker (I use different brokers for my company because of these reasons), but other than that, I do not see a reason to use a different one.