quite expensive to transfer CAD-CAD, GBP-GBP, SEK-SEK & DKK-DKK from Swissquote to IB (without conversion). I chose “fees to be paid by the receiver” but eventhough it costs me between 0.22% and 0.53% (152CHF for a global amount of 50’000CHF). any suggestions to make it cheaper?
Shouldn’t you just split the fees?
transfer out everything and close swissquote acc
So effectively 4 transfers cost CHF 150.
I’ve recently transferred/wired $30’000 from a Swiss bank to IB (no conversion), with option “split costs”. Swiss bank took $5 (that is a fixed amount irrespective of amount) & at IB arrived with additional $27 “missing”, so roughly 0.1%.
I imagine other “foreign currencies” should be similar, and so I think not much to do except transfer all cash per currency at once.
I send CHF from UBS to IB without conversion and doesn’t cost anything.
When I do a SEPA from Revolut to IB for euros, neither…
Just curiosity: why do you own SEK and DKK and why do you want to keep them?
I invest in directly in stocks, not ETF. I am not 100% confident in ETF as it is a financial product with at least one more intermediary
Another answer that would be possible would be that even with 0.1 % or even 0.5 % transfer fees it remains cheaper than the 1% commission on exchange applied by swissquote.
How many stocks? I don’t know what’s wrong with Vanguard ETFs? Could you elaborate?
I’m gonna just say read Burton Malkiel’s Random Walk Down Wall Street.
The risk of etfs is much lower than the idiosncratic risk of owning a few stocks.
Then don’t complain about the fees.
That’s one thing where ETFs have a significant advantage over trading individual stocks - with one S&P 500 ETF trade you get exposure to 500 stocks. Good luck beating the ETF on trade costs.
Maybe he purposefully seeks exposure to some of that idiosyncratic risk, who are you to judge. Index funds are fine if you have no idea/no skills/no time/not enough conviction to research and decide what to invest in, but it’s not a one-size-fits-all answer to all investing needs.
For example, tech significantly outperformed in the last decade, so if you subscribed to the ‘software is eating the world’ idea a decade ago you’d make a lot more money than by dumping it into S&P 500.
Well, there are QQQ ETFs too? Why the need for individual stocks?
If if if.
QQQ is yesterdays news. VGT is where it is at.
The expected return of idiosyncratic risk is zero because it can be diversified.
Overconfidence is the worst enemy of an investor.
To beat the market with skill, you need to be better than 99% of all investors. (likely more as skilled investors will have more money to invest)
Most investors believe they can beat the market, it us much more likely that you are one of those that is not in the top percent.
In what field would you bet all your money that you are in the top 1% of that field?
yes thats why I am moving to IB
~80 stocks ; probably nothing wrong with Vanguard ETF but the financial world is not the most virtuous. so the less intermediaries there is between me and my investments, the better I sleep. even if it costs me a bit more.
Vanguard USA is owned by the people who buy vanguard funds.