Letztes Update: 28. September 2023
Swissquote will update its rates at the beginning of January 2023. What results in a reduction in fees for some customers turns out to be an increase in fees for others. In this update of Swissquote* rates, we take a closer look at the new rates compared to the old ones.
Shares and ETFs
till 500.00
Smaller trades will become less expensive with the new trading fees. On the SIX Swiss Exchange and the exchanges in Germany and the USA, trades up to CHF/EUR/USD 500 now cost only CHF/EUR/USD 5 instead of CHF/EUR/USD 9 bez. 25: Germany will thus become massively cheaper, while Bern will become massively more expensive.
| Old | New | |
|---|---|---|
| SIX (Switzerland) | CHF 9 | CHF 5 |
| Germany | EUR 25 | EUR 5 |
| Nyse, Nasdaq Amex | USD 9 | USD 5 |
| Bern | CHF 9 | CHF 20 |
| Euronext, Milan, Vienna, Scandinavian, London, Spain | EUR/GBP 25 | EUR/GBP 25 |
| Canada | 25 | 25 |
| Singapore | 35 | 35 |
| Australia | 35 | 35 |
500.01 to 1’000
On the same exchanges, trades from CHF/EUR/USD 500.01 to 1,000 now cost CHF/EUR/USD 10 instead of CHF/EUR/USD 20. 25.
| Old | New | |
|---|---|---|
| SIX (Switzerland) | CHF 20 | CHF 10 |
| Germany | EUR 25 | EUR 10 |
| Nyse, Nasdaq Amex | USD 25 | USD 10 |
| Bern | CHF 20 | CHF 20 |
| Euronext, Milan, Vienna, Scandinavian, London, Spain | EUR/GBP 25 | EUR/GBP 25 |
| Canada | 25 | 25 |
| Singapore | 35 | 35 |
| Australia | 35 | 35 |
1’000.01 to 2’000
Trades of CHF/EUR/USD 1,000.01 to 2,000 fall from EUR/USD 25 to EUR/USD 20 on the German and US exchanges.
| Old | New | |
|---|---|---|
| SIX (Switzerland) | CHF 20 | CHF 20 |
| Germany | EUR 25 | EUR 20 |
| Nyse, Nasdaq Amex | USD 25 | USD 20 |
| Bern | CHF 20 | CHF 20 |
| Euronext, Milan, Vienna, Scandinavian, London, Spain | EUR/GBP 25 | EUR/GBP 25 |
| Canada | 25 | 25 |
| Singapore | 35 | 35 |
| Australia | 35 | 35 |
For amounts above 2,000, Swissquote does not turn the fee screw. And as you can see in the table above, trades on exchanges like Euronext or Australia remain equally expensive.
I always make sure that trades do not cost more than 1% in fees. After all, the investment must first make up for this “loss” in order to generate a positive return. Swissquote’s new trading fees are at least heading in the right direction.
For smaller trades, you’re probably better off with Yuh, the finance app launched by PostFinance and Swissquote. Although Yuh offers only a limited trading universe, it charges a percentage fee of only 0.5% per trade and completely waives custody fees. You can read everything you need to know in my experience report on Yuh.
ETF/ETP Leader
Now let’s move on to the area where I buy the most at Swissquote. If the ETF falls under the category “ETF/ETP Leader” of Swissquote, the above price structure does not apply, but a flat fee. This will remain unchanged in 2023 at CHF/EUR/USD 9.00 per online trade on SIX Swiss Exchange. In addition to the CHF 9.00, third-party fees, any stamp taxes and real-time fees will continue to be charged.
Structured products
Structured products issued by Swissquote, which include Yield Boosters, Swissquote now applies a CHF/EUR/USD 9.00 flat rate for subscription (primary market). So again, it doesn’t matter if you trade a structured product worth CHF 1,000 or CHF 10,000. On the secondary market and for structured products of other issuers, a tiered fee structure applies. You can find them on the Swissquote website.
Currency exchange
The exchange fee for major currencies remains unchanged at 0.95%.
The main currencies include:
- EUR
- USD
- GBP
- CHF
- JPY
- AUD
- CAD
- NZD
You can avoid this exchange fee by buying ETFs that are traded in Swiss francs.
Custody fees
Until now, the custody fees were 0.025% per quarter. A minimum of CHF 15 and a maximum of CHF 40 per quarter were charged. Value added tax is additionally charged on this fee.
There are now fixed gradations:
| Old | New | |
|---|---|---|
| 0 – 50’000 | CHF 15 | CHF 20 |
| 50’000.01 – 100’000 | CHF 15 – 25 | CHF 25 |
| 100’000.01 – 150’000 | CHF 25 – 37.5 | CHF 37.5 |
| > 150’000 | CHF 37.5 – 40 | CHF 50 |
For assets above CHF 1 million, a fee of 0.0075% per quarter is charged to cover external custody fees.
Cash is not included in the calculation of custody fees, but custody fees must now also be paid on crypto assets held at Swissquote. Prior to that, crypto assets were exempt from custody fees.
The new model with the fixed gradations and that crypto assets are now also counted as assets is likely to mean an increase in fees for many.
After all, registration in the Swiss share register remains free of charge.
Payments
Online payments within Switzerland and Liechtenstein are now free of charge. Before that, they cost CHF 2. It is noticeable here that Swissquote is increasingly moving from a pure online broker to a universal bank that also offers everyday banking transactions. SEPA transfers still cost EUR 2.
Conclusion Swissquote Update Rates
Anyone trading smaller amounts of up to CHF/EUR/USD 2,000 on the stock exchanges in Zurich, Germany and the USA will benefit from the new Swissquote rates from 2023. As far as all clients are concerned: Swissquote custody fees will be increased. The increase is likely to be particularly noticeable for buy-and-hold investors.
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I was not paid by anyone for this blog post, it reflects my subjective opinion.
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