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Interactive Brokers Experience Switzerland - What you need to know as a Swiss citizen

As of June 2026

Interactive Brokers (IBKR) is one of the cheapest brokers worldwide - and is regularly requested by our community. But is the US broker really the best choice for Swiss investors? Or are most people better off with a Swiss provider?

In this experience report, I test Interactive Brokers from a Swiss perspective. You will find out where IBKR scores points, where there are problems - and for whom a Swiss broker despite higher fees.

📊 Interactive Brokers Switzerland - The most important facts at a glance
Foundation1977 (USA) - on the market for almost 50 years
Contractual partner (Switzerland)Interactive Brokers (U.K.) Limited, London
RegulationFCA (UK), SEC/FINRA (USA) - not FINMA
Deposit protectionSIPC up to $500,000 + Lloyd's up to $30m/account - not CH deposit protection
Custody feesNone
Trading fees (SIX)Trading fees (SIX) | 0.05% of the trading value, min. CHF 1.50 (tiered) or CHF 5 (fixed price)
Trading fees (US stock exchange)$0.005/share, min. $1, max. 1% (fixed price)
Currency exchangeInterbank-related, from $2 Commission - extremely favourable
Stamp dutyNone (domicile abroad)
Fractional shares✅ Yes (Fractions of shares/ETFs can be purchased)
ETF Savings Plan✅ Recurring investments (transfer money in advance)
Swiss tax statement❌ Not available (Workaround: datalevel, approx. CHF 50/year)
German speaking supportRestricted
Who is it suitable for?Experienced, cost-conscious investors
💡 Schwiizerfranke recommendation: IBKR is a solid US broker with top conditions. For most Swiss investors Swiss broker but more convenience - especially when it comes to taxes and support.

Table of contents

Advantages and disadvantages of Interactive Brokers (Switzerland)

Advantages:

  • Extremely low trading fees (from CHF 1.50 per trade on SIX, from $0.35 in the USA)
  • No custody fees
  • Interbank currency exchange - many times more favourable than with most Swiss brokers
  • Access to over 170 markets worldwide, including US ETFs (VT, VOO)
  • Fractional shares (Fragments available for purchase)

Disadvantages:

  • No Swiss tax statement - tax return significantly more time-consuming
  • Not FINMA-regulated, complex regulatory structure (FCA + SEC)
  • Platform in English, complex operation
  • Complex process for heirs in the event of death (IRS forms, English documents)
  • Limited German-language support
  • No Swiss place of jurisdiction (London)

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Interactive Brokers fees Switzerland - Costs in detail

The fees show why Interactive Brokers is so popular. The conditions are among the lowest in the world - especially compared to Swiss providers.

Deposit fees and basic costs

IBKR does not charge custody fees. This is an advantage over some Swiss brokers such as Swissquote. However, some Swiss brokers such as Saxo Bank, Yuh or neon also waive custody fees - so IBKR is not alone here.

Cost typeIBKRSwiss broker
Custody feesNoneSwissquote: from CHF 20/quarter, Saxo/Yuh/neon: none
Stamp dutyNone (domicile abroad)CHF 0.75 (Swiss securities) / CHF 1.50 (foreign securities) per CHF 1,000
Interest on CHF credit balances~0%Depending on the provider, partly comparable
Interest on USD balancesVariable, approx. 3-4% (as at 02/2026, from $10,000)Varies

The stamp duty savings with IBKR sound good, but are hardly noticeable. The difference only adds up with large and frequent transactions.

On the subject of USD interest rates: The higher interest on dollar balances is a nice bonus if you already have USD in IBKR (e.g. from dividends). But specifically exchanging francs for dollars just for the interest? That involves a considerable exchange rate risk and is not worthwhile in most cases.

Trading fees: Fixed price vs. staggered

IBKR offers two fee models. For most private investors, the Fixed price model better - it is easier to understand and fair for normal transaction sizes.

Fixed-price model (suitable for most investors):

Stock ExchangeFee
Swiss Stock Exchange (SIX)Swiss Stock Exchange (SIX) | 0.05% of trading value, min. CHF 5 (fixed price) or CHF 1.50 (tiered, plus stock exchange fees)
US stock exchange (NYSE, NASDAQ)$0.005 per share, min. $1, max. 1%
European stock exchanges0.05% of the trade value, min. €3

Tiered model (tiered): Can be cheaper for smaller orders under CHF 5,000 - the minimum fee is only CHF 1.50, but there are also stock exchange and clearing fees (totalling approx. CHF 3-4 for a CHF 1,000 trade). This model is worth a look for investors who regularly invest smaller amounts. You can switch at any time in the account settings.

Currency exchange fees - the big IBKR advantage

This is where IBKR plays one of its greatest trump cards. Currency exchange at IBKR is close to the interbank with a very low, transparent commission (basic fee from $2) - instead of the large exchange rate premium that many Swiss broker demand.

Concrete comparison when changing from CHF to USD:

🔄 Currency exchange CHF → USD: What does it really cost?
Amount IBKR (~$2 fix) Saxo Bank (0.25%) Swissquote (~0.95%)
CHF 500 ~CHF 2.- ~CHF 1.25 ~CHF 4.75
CHF 1,000 ~CHF 2.- ~CHF 2.50 ~CHF 9.50
CHF 2'000 ~CHF 2.- ~CHF 5.- ~CHF 19.-
CHF 10'000 ~CHF 2.- ~CHF 25.- ~CHF 95.-
IBKR: Interbank rate with transparent commission (from $2). Saxo: 0.25% premium. Swissquote: ~0.95% premium. As of February 2026, amounts rounded. Below CHF 800, Saxo is cheaper than IBKR.

The pattern is clear: For small amounts under CHF 800, Saxo Bank is even more favourable than IBKR, because the fixed fee of $2 at Saxo is only exceeded above this amount. But the larger the amount, the clearer the difference in favour of IBKR. Anyone who regularly changes CHF 2,000 or more into USD will save a lot over the years with IBKR.

Nevertheless: Saxo Bank with 0.25% is significantly fairer than many other Swiss brokers. Swissquote with a spread of almost 1% is noticeably more expensive - even if traditional house banks often play in a completely different league with a premium of 2-3%.

Fee comparison: IBKR vs Saxo Bank vs Swissquote

To make your decision easier, here is a concrete comparison based on typical transactions:

💰 Fee comparison: IBKR vs Saxo Bank vs Swissquote
Interactive Brokers Saxo Bank Swissquote
Custody fees CHF 0 CHF 0 From CHF 20/quarter
CH-Trade (CHF 2,000) ~CHF 3-5* CHF 3.- CHF 10
US Trade (CHF 2,000) ~CHF 1–2 ~CHF 1.60 CHF 10
Stamp duty None In the per mille range In the per mille range
Currency exchange (CHF→USD) Interbank-related (from $2) 0.25% ~0.95%
Swiss tax statement ❌ (approx. CHF 50 via datalevel) ✅ Free of charge ✅ For a fee
ETF Savings Plan ✅ Recurring investments ✅ Free of charge (100+ ETFs) ✅ (ETF Leaders from CHF 3)
Fractional shares ✅ ❌ ❌
Support in German Restricted ✅ Yes ✅ Yes
FINMA-regulated ❌ No ✅ Yes ✅ Yes
As of June 2026. IBKR CH-Trade: CHF 3–4 (tiered, incl. ancillary costs) or CHF 5 (fixed price). US-Trade: $0.005 per share, min. $1 (fixed price) or from $0.35 (tiered). Saxo: Classic model, 0.08% min. CHF 3 (CH) or USD 1 (US). Swissquote: tiered in CHF, CHF 10 in the 1,000.01–2,000 tier. All brokers in detail: Online broker comparison Switzerland

You can find all Swiss brokers in detail in our Online broker comparison Switzerland.

Fractional shares - also buy fractional shares

At IBKR you can Fractions of shares and ETFs (so-called fractional shares). Instead of buying an entire Berkshire Hathaway share, you simply invest a fixed amount - for example CHF 100 in the S&P 500.

 IBKRSaxo BankSwissquote
Fractional shares✅ Yes, for shares and ETFs❌ No❌ No
Minimum investmentFrom $1Whole shareWhole share
OwnershipBeneficial owner (pro rata dividends)- –- –
ProtectionSIPC + Lloyd's- –- –

IBKR buys whole shares on the market and divides them internally among its customers. You are the «beneficial owner» of your fractional shares - including pro rata dividends. This feature is not yet available with Swiss brokers.

ETF savings plan with IBKR (Recurring Investments)

«Can I set up an automatic savings plan with IBKR?» - one of the most frequently asked questions from the community. The answer: Yes, but with restrictions.

 IBKRSaxo BankSwissquote
Automatic savings plan✅ Recurring investmentsSavings planSavings plan
IntervalWeekly / 2-weekly / monthlyWeekly / monthlyMonthly
Costs per execution~CHF 1.50Free of charge (100+ ETFs)From CHF 3
Money on accountTransfer in advance by standing orderTransfer in advance by standing orderTransfer in advance by standing order
Language:EnglishGermanGerman
Fractional shares✅ Full amount invested❌ Whole shares only❌ Whole shares only

IBKR offers with Recurring investments automatic, recurring purchases. Thanks to fractional shares, the full amount is always invested. However, operation is in English and more complex than with Swiss providers.

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Interactive Brokers Taxes Switzerland - The biggest difference to Swiss brokers

And now we come to the point that is the biggest argument against IBKR for many Swiss investors: the Tax return.

IBKR does not provide a Swiss tax statement

Tax taskSwiss brokerIBKR
E-tax statement✅ Import into tax software, ready in seconds❌ Not available (workaround: datalevel, approx. CHF 50)
List of securitiesAutomatic ✅ AutomaticTransfer manually from activity report
Dividends & withholding taxesAutomatic ✅ AutomaticManually copy from activity report
Look up ratingsAutomatic ✅ AutomaticManually via ICTax (ictax.admin.ch)
DA-1 (US withholding tax)Partially prefilledFill in manually

Swiss brokers like Saxo Bank or Swissquote create a E-tax statement, which you can import directly into your cantonal tax software. You import the file, click on «Apply», and in a few seconds all transactions are correct in your tax return. No typing, no looking up, no risk of error.

At IBKR? Not a chance. You have to take the relevant data from the Activity report manually into your tax return.

Workaround: datalevel e-tax statement

Since 2025, the Swiss company has been offering datalevel an e-tax statement for IBKR accounts. You link your IBKR account to datalevel (read-only access to reports), and they generate a standard e-tax statement that you can import into your cantonal software.

Costs: approx. CHF 50 per tax statement (as at 2026).

This is a viable solution - but with a Swiss broker you get this service free of charge or for significantly less. And the extra effort remains: You still have to create an account with datalevel and set up the link.

Withholding tax on US dividends

If you US ETFs or US equities keeps IBKR 15% US withholding tax directly.

IBKR Swiss broker
US withholding tax 15% (via W-8BEN) 15% (via W-8BEN)
Reclaim Form DA-1 DA-1 + R-US 164

With both variants 15% US withholding tax withheld (thanks to the W-8BEN form, which IBKR files automatically). The Difference you realise at the ReclaimWith IBKR you only submit the DA-1 form. With a Swiss broker, the R-US 164 is also required - a little more paperwork, but both can be done.

US ETFs and inheritance tax - an issue?

One of the main reasons why Swiss investors switch to IBKR is the Access to US-domiciled ETFs such as VT, VOO or VXUS. These are more favourable (lower TER) and more tax-efficient than their European counterparts. With Swiss brokers you can also buy some of these US ETFs, but IBKR makes it particularly easy.

However, one concern often arises: US inheritance tax. Anyone who holds US-domiciled securities and dies is theoretically subject to US estate tax of up to 40% on anything over $60,000.

The good news: thanks to the Double taxation agreement between Switzerland and the USA from 1951 Swiss investors are treated proportionately like US citizens. Since the «Big Beautiful Bill» (2025), the exemption amount has been around $15 million - calculated on a pro rata basis according to the ratio of your US assets to your total assets. For the vast majority of investors No US inheritance tax an.

But beware - no tax does not mean no expense: Even if no tax is owed, your heirs must provide proof to the IRS for US assets over $60,000. This means forms in English, notarised and translated documents, and communication with a US authority. Anyone who has ever dealt with the IRS knows that this is no walk in the park - especially not for relatives who are dealing with a bereavement and may not speak English. More on this in the next section.

If you want to avoid the topic completely, you can also simply European-domiciled ETFs (e.g. VWRL instead of VT, CSPX instead of VOO). These ETFs are domiciled in Ireland and are not subject to US inheritance tax. You can recognise them by the fact that the ISIN begins with «IE» instead of «US».

What happens to the IBKR account in the event of death?

A point that hardly any IBKR review addresses - but which is particularly important for a foreign broker: What happens when you die?

With a Swiss broker like Saxo Bank or Swissquote everything is governed by Swiss law. Your heirs contact the bank, present the certificate of inheritance and the matter is settled within a few weeks. All in German, all under FINMA supervision.

At IBKR, the process is significantly more complex - and you should not underestimate this. IBKR freezes the account as soon as the death is reported. After that, the expense depends on the amount of your US assets:

US assets in the portfolioWhat your heirs need to doEffort
Under $60,000Simple letter to IBKRLow
$60,000 - ~$15 millionIRS Form 706-NA (+ 8833 if applicable), certified translations, statement of assets and liabilitiesHigh
Over ~$15 millionComplete US estate tax return, wait for transfer certificate (6-18 months)Very high

Most investors fall into the middle category. In concrete terms, this means that your heirs must complete the IRS form 706-NA (and, depending on the situation, additionally 8833) and submit it to the IRS. This requires a notarised and English translated Death certificate and Certificate of inheritance, a Statement of all US assets at the date of death and proof that no tax is due thanks to the double taxation agreement. Copies of these forms are then sent to IBKR. Only then are the assets released.

Be honest with yourself: These are IRS forms in English, communication with a US authority, certified translations - and all this in a situation where your loved ones are dealing with a loss. Anyone who has ever dealt with US authorities knows that incorrect or incomplete documentation will be rejected, which can add months to the process. For heirs without English language skills or experience with international authorities, a specialised tax advisor may be necessary - with corresponding costs.

What you should do now:

  • Document your IBKR account in your Provision folder (account number, access data, contact details of IBKR)
  • Discuss with your relatives that a foreign brokerage account exists and what to do in an emergency
  • Think honestly: Can your partner get through this process? If not, are Irish-domiciled ETFs (ISIN begins with «IE») is the less stressful alternative - or a Swiss broker

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Is Interactive Brokers safe? Security & Deposit Protection

The security at IBKR is solid - but structured differently than with a Swiss broker. You should understand this before you open an account.

Regulation

 IBKRSwiss broker
Supervision of customer relationshipFCA (UK)FINMA (Switzerland)
Custody supervisionSEC / FINRA (USA)FINMA (Switzerland)
Place of jurisdictionLondonSwitzerland
Language in an emergencyEnglishGerman

Interactive Brokers is regulated worldwide - among others by the SEC and FINRA (USA) and the FCA (UK). However, what IBKR not has: a FINMA regulation.

For Swiss customers, the account runs via Interactive Brokers (U.K.) Limited (FCA-regulated). Your securities are deposited with IB LLC in the USA (SEC/FINRA + SIPC protection). This makes regulation more complex than with a Swiss broker, where everything runs under FINMA and Swiss law.

Deposit protection in comparison

This is where it gets a bit complex, but it's important:

🔒 Security & deposit protection in comparison
Interactive Brokers Swiss Broker (Saxo / SQ)
Supervisory authority FCA (UK), SEC/FINRA (USA) FINMA (Switzerland)
Registered office / contractual partner London (UK) Switzerland
Deposit protection cash SIPC: up to $250,000 esisuisse: up to CHF 100,000
Protection of securities SIPC: up to $500,000 total Special assets (no limit)
Supplementary insurance Lloyd's: +$30m/account (Cash: $900K). Aggregates: $150m. None (not necessary)
Equity of the company >$20.5bn (Feb. 2026) SQ: ~CHF 2 bn.
Listed on the stock exchange ✅ NASDAQ (S&P 500) SQ: ✅ SIX / Saxo: ❌
SIPC note SIPC primarily provides protection in the event that securities are missing in the event of bankruptcy. not against price losses.
Place of jurisdiction London / New York Switzerland
Sources: IBKR Fact Sheet (Feb. 2026), IBKR Client Protection Page. At CH banks, securities are special assets and are segregated in the event of bankruptcy.

At Swiss banks, securities are special assets and are not covered by deposit protection - they belong to you and will be segregated in the event of bankruptcy.

Important: Your securities (shares, ETFs) are with IBKR Separate from company assets in safekeeping. They are yours even if IBKR becomes insolvent. SIPC protection is particularly effective if securities are missing in the event of insolvency - not in the event of price losses.

IBKR's financial strength is impressive: with over $20.5 billion Equity and a conservative investment strategy (mainly short-term government bonds), the risk of insolvency is extremely low. IBKR has already survived several financial crises.

My honest assessment: The level of protection at IBKR is high - in some respects even higher than with Swiss brokers. Nevertheless, many Swiss simply feel more comfortable with a FINMA-regulated bank. This is understandable and a legitimate reason to choose a Swiss provider.

The 2020 oil crash - what happened back then?

No experience report would be honest without addressing this topic: On 20 April 2020, the price of US crude oil futures fell below zero for the first time in history - to -$37.63 per barrel. IBKR's trading system was not programmed for negative prices. Customers saw the wrong prices, bought in the belief that they were getting a bargain - and suffered massive losses.

IBKR then voluntarily paid more than $102 million to affected customers. The US regulatory authority CFTC also imposed a fine of $1.75 million, because IBKR had not adapted the software in good time despite being warned.

Important: The problem only affected crude oil futures traders - not ETF or equity investors. IBKR took responsibility proactively and coped financially without any problems. Nevertheless, it shows: Even the largest and most technically advanced broker is not flawless - and «favourable» does not automatically mean «worry-free».

Interactive Brokers platform & app in test

Interactive Brokers offers Five different platforms and that's part of the problem. As a beginner, you are faced with the question: Client Portal, IBKR Desktop, Mobile App, GlobalTrader or Trader Workstation? Which do you need? Which can you ignore?

PlatformFor whom?My impression
Client Portal (Web)Passive investors, ETF buyersEasiest to use
IBKR DesktopInvestors who want more analysisMore modern interface than TWS
IBKR Mobile AppTrade on the move + 2FAFunctional, not particularly pretty
IBKR GlobalTraderSimplified app for beginnersOK for the start
Trader Workstation (TWS)Experienced traders, technical analysisPowerful, but complex

For most Swiss investors who want to buy and hold ETFs, this is sufficient. Client Portal completely. The Trader Workstation is more for active traders who conduct technical analyses.

ibkr user interface test

Honest assessment: The variety of platforms sounds like an advantage - but in practice it is rather confusing. What's more, there are also many options within the platforms that can overwhelm beginners. Different fee models (fixed price vs. staggered), order types, account types - IBKR is a professional platform that feels like one. In comparison, the operation of Swiss providers much more intuitive: one app, everything in German, fewer decisions required.

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Who is Interactive Brokers in Switzerland suitable for?

That is probably the most important question in this article. Here is my honest assessment:

IBKR is ideal for you if you...

  • Regularly invest larger amounts (from CHF 5,000+)
  • Want access to US ETFs such as VT, VOO or VXUS
  • Feel comfortable with English platforms
  • Do the tax return yourself or use datalevel
  • want to trade options, futures or forex
  • Looking for the lowest possible price per trade

🇨🇭 A CH broker is a better fit if you...

  • Want a clean user experience in German
  • Do your taxes in seconds instead of hours
  • need support that you can call in German
  • Swiss deposit protection and FINMA regulation want
  • Simply buy 2-3 ETFs per year and sleep peacefully
  • Better to use your time differently than with broker complexity
👉 Compare all brokers based on your situation: Online broker comparison Switzerland

Feedback from our community shows: Most Schwiizerfranke readers want Invest simply, securely and conveniently. The fee savings at IBKR are real - but for the majority, tax convenience, good support and intuitive operation outweigh a few francs per trade. That's why Swiss brokers like Saxo Bank or Swissquote is the better choice for most people.

The best Interactive Brokers alternatives in Switzerland

If, after reading this article, you think «IBKR is exciting, but I'd rather have a Swiss provider» - then these are my three recommendations:

1 Saxo Bank Switzerland

The Saxo Bank is in my opinion the best Swiss IBKR alternative. It combines comparatively low fees with the convenience of a FINMA-regulated broker: free e-tax statement, access to dozens of stock exchanges worldwide, free ETF savings plans for selected ETFs and a modern platform in German. Currency exchange is more expensive than with IBKR, but significantly cheaper than with most other Swiss providers. If you appreciate the fee advantages of IBKR but don't want to do without Swiss infrastructure, this is the right place for you.

2. swissquote

Swissquote is the best-known online broker in Switzerland - and as a full-service bank, it offers more than just a custody account. Bank account, credit cards, crypto trading and trading are all under one roof here. The trading fees and currency exchange are higher than at Saxo or IBKR, but you get a complete package with many years of experience and FINMA regulation. For investors who want everything in one place and are prepared to pay a little more for it.

3. true wealth or finpension Invest (for hands-off investors)

If you don't want to trade yourself, you are better off with a digital asset manager. True Wealth and finpension Invest will put together a diversified portfolio for you based on your risk profile and take care of rebalancing, taxes and everything else. You pay an annual management fee for this - but you don't have to worry about anything. A completely different approach to IBKR, but just right for many people. Find out more in our Robo-Advisor comparison Switzerland.

You can find a direct comparison of all providers in our Online broker comparison Switzerland.

What is Interactive Brokers? - Background & Facts

Interactive Brokers - often also IBKR or simply IB is a US brokerage company headquartered in Greenwich, Connecticut. It was founded in 1977 by Thomas Peterffy, who is still Chairman of the company today.

A few figures that show how big IBKR has become (source: IBKR Fact Sheet, as at February 2026):

  • About 4.5 million customer accounts worldwide
  • More than $814 billion Client assets («client equity»)
  • Access to over 170 markets worldwide
  • About 3,180 employees
  • Listed on the NASDAQ (ticker: IBKR) and in the S&P 500 listed
  • Equity of over $20.5 billion

IBKR has made a name for itself with extremely low fees and a huge range of products. From simple ETF purchases to options, futures and forex - you can find practically everything at IBKR.

Important for Swiss investors: IBKR is not a Swiss company and is subject to not FINMA. Your contractual partner as a Swiss customer is Interactive Brokers (U.K.) Limited based in London. This has consequences for deposit protection, taxes and support - more on this in a moment.

Open an Interactive Brokers account in Switzerland

UK or US website - which do I choose?

Right at the beginning of my test, I stumbled over the first hurdle. When calling up interactivebrokers.com a pop-up appears: «Which IBKR website is best for you?» - with the options «Go to UK website» or «Stay on US website».
It is best to adapt the language first:

IE experience review uk switzerland

The answer for Swiss customers: Always choose the UK website (interactivebrokers.co.uk). As a non-EU country, the Swiss are served via the IBKR UK entity. This even has advantages:

  • SIPC protection via the US parent company (up to $500,000)
  • Access to US ETFs such as VT, VOO or VXUS - many Swiss use IBKR for precisely this purpose. You can see whether a specific ETF is available directly in the product search in the Client Portal - regulatory restrictions may change.
  • CH-IBAN for CHF transfers

EU clients, on the other hand, end up with the Irish or Hungarian entity - with less protection and without access to US ETFs. As a Swiss citizen, you actually have an advantage here.

Opening an account step by step

Opening an account with Interactive Brokers takes around 15-20 minutes. The process is not difficult, but it is much more extensive than with a Swiss neobroker or a Swiss bank.

The individual steps are basically the usual: Personal details, ID, financial profile, select account type, verification. What IBKR adds: Detailed questions about the source of wealth, trading experience and employer - this is standard for an internationally regulated broker, but feels much more extensive than with Swiss providers.

What I noticed in the test

On 17 January 2026, I went through the entire onboarding process myself. In the process, I came across a few peculiarities that you should be aware of as a Swiss citizen.

Language change deletes entries: The form starts in English. You can switch to German - but beware: in my test, the language change in the middle of the form deleted all previous entries. My tip: switch to German right at the start. You will be glad at the latest when you are asked for your «OASI Number» - in German it simply says «AHV-Nummer»

Have your AHV number ready: The AHV number is requested directly on the form. Very few people have it by heart - have your AHV card ready.

No umlauts: The system does not accept special characters. If you live in Zurich, you have to enter «Zurich». Not tragic, but unusual.

Driving licence as ID: If you choose the Swiss driving licence as your ID, the system requires an expiry date. My driving licence doesn't have one - I made up a date without further ado and it went through. If you want to be on the safe side, take your passport or ID card.

Income in GBP: By default, the income fields show British pounds, not Swiss francs. 

Options trading preselected: In my trading products, options trading was activated by default. This is a complex instrument with high risk - as a beginner you should deactivate it.

27 legal documents in English: Before signing, you must confirm that you have read 27 documents - from the Client Agreement (over 6,000 words) to the Trading Risk Disclosure (just under 5,000 words). All in English, as your contractual partner is Interactive Brokers (U.K.) Limited in London. By comparison, Swiss brokers typically have 2-3 documents in German.

Upselling before account approval: Even before your account is approved, IBKR offers paid market data subscriptions and a Stock Yield Enhancement Programme. I would advise against securities lending. You will also be asked to deposit money - with the note that «applications with credit balances will be processed first». With Swiss brokers, you normally only pay in once the account has been opened.

The Identity verification by smartphone (scan ID + selfie) was quick and uncomplicated.

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Transfer custody account to Interactive Brokers

If you already have a custody account with a Swiss broker, you can transfer your securities to IBKR. The transfer takes place via a so-called ACATS or FOP transfer form.

What you need to know:

  • IBKR itself demands No fees for incoming securities account transfers
  • However, your current broker often charges steep fees - often CHF 50-100 per position
  • The transfer usually takes 5-15 working days
  • During the transfer, you can change the affected items do not act

Our financial tips for 2026

"Intelligent people learn from the mistakes of others".

We have compiled our top selection for you from all our tests and experience reports:

Online broker comparison trading platforms comparison Swiss broker comparison test
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Conclusion: My Interactive Brokers experience in Switzerland

Interactive Brokers is a impressive broker. The fees are extremely low, the offering is huge, the security is high and the company has been around for almost 50 years. For experienced investors who want to minimise costs and have access to global markets, IBKR is hard to beat.

But - and this is my honest conclusion - For most Swiss investors, a Swiss broker the better choice. The reason is not just the price. It's about the overall package: a clean app in German, taxes done in seconds instead of hours, support you can call, Swiss deposit protection and a jurisdiction that isn't London or New York.

Specifically, if you buy an ETF a few times a year and pay CHF 5-15 more in fees, you get a broker who takes care of the complex stuff - so you don't have to. That's a fair trade-off, not just for beginners, but for anyone who prefers to use their time differently.

My advice: Compare and decide for yourself. In our Online broker comparison Switzerland you will find all relevant providers - including a fee calculator and personal experience reports.

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FAQ - Frequently asked questions about Interactive Brokers Switzerland

No. IBKR creates no Swiss tax statement and no e-tax statement that you could import into the cantonal tax software. You have to transfer the data from the activity report manually. Since 2025, the Swiss company datalevel has been offering an e-tax statement for IBKR accounts - but it costs around CHF 50 per year. Swiss brokers such as Saxo Bank provide the e-tax statement free of charge - import takes seconds there.

Interactive Brokers is Not a traditional bank, but a brokerage company. IBKR works with various custodian banks, including Bank of New York, J.P. Morgan, State Street Bank and others. Your contractual partner as a Swiss customer is Interactive Brokers (U.K.) Limited, based in London.

Yes, you can use IBKR in Switzerland without any problems. Swiss customers are served via the UK entity (Interactive Brokers U.K. Limited) and have access to 170+ markets worldwide, including the Swiss stock exchange SIX.

Yes, IBKR is one of the largest and oldest online brokers in the world. The company has been in existence since 1977, is listed on the NASDAQ and is included in the S&P 500. With over $20.5 billion in equity and more than 4.5 million customer accounts, IBKR is financially extremely stable.

No. IBKR will not by FINMA regulated. Swiss customers have their account with IB UK (FCA-regulated), the securities are held at IB LLC held in custody in the USA (SEC/FINRA). British and US rules therefore apply - not Swiss deposit protection (esisuisse), but SIPC protection.

IBKR demands No custody account fees. Trading fees on the Swiss Stock Exchange (SIX) are 0.05% of the trade value in the fixed price model, with a minimum of CHF 1.50 per trade. On US exchanges you pay $0.005 per share (min. $1, max. 1% of the trade value). The currency exchange is interbank with a very low commission (from $2) - many times cheaper than with Swiss brokers. Stamp duty does not apply at IBKR, but does not make a difference in the case of a Swiss broker However, this only amounts to a few francs per CHF 1,000.

As a Swiss customer, you automatically become the UK entity assigned. If you are asked «UK website» or «US website» when selecting a website, always choose UK (interactivebrokers.co.uk). The UK entity offers you SIPC protection, access to US ETFs and a CH IBAN for CHF transfers.

Not directly from IBKR. Since 2025, the Swiss company has been offering datalevel However, datalevel offers an e-tax statement for IBKR accounts. You link your IBKR account (read-only access) and datalevel generates a standardised e-tax statement for your cantonal tax software. Costs: approx. CHF 50 per statement.

For the vast majority of Swiss investors: No. Thanks to the Swiss-US double taxation agreement of 1951 and the «Big Beautiful Bill» (2025), the exemption amount is around $15 million (calculated pro rata). But: Even without a tax liability, your heirs must submit over $60,000 IRS forms for US assets - in English, with notarised documents. That is a real effort. If you want to avoid this completely: Buy Irish-domiciled ETFs (VWRL, CSPX - ISIN starts with ’IE«).

IBKR freezes the account immediately. For US assets under $60,000, a simple letter from the heirs is sufficient. Above this amount, the process becomes more complex: IRS Form 706-NA (additional forms may be required), certified translations, statement of assets at the date of death - all in English. For heirs who do not speak English, a specialised advisor may be necessary. It is essential to document the IBKR account in the pension file and discuss it with relatives.

Yes, IBKR offers «Recurring Investments». You can automatically buy ETFs on a weekly or monthly basis. However, you must first transfer the money to your IBKR account yourself. For a fully automatic savings plan in German, we recommend Saxo Bank.

Yes, securities account transfers to IBKR are possible and free of charge at IBKR. However, your previous broker often charges CHF 50-100 per position. The transfer takes around 5-15 working days. Our tip: Start with fresh money at IBKR and transfer later.

In April 2020, IBKR's system was unable to display negative oil prices, resulting in customer losses. IBKR voluntarily paid out more than $102 million to affected customers. The CFTC ordered restitution of $82.57 million (already paid) and imposed a fine of $1.75 million. The problem only affected futures traders, not ETF or equity investors. IBKR never had a liquidity problem.

Financial author Eric Marschall certified investment advisor (IAF) independent financial expert Switzerland - certified financial expert switzerland
About the author

Eric is the founder of Schwiizerfranke.com and certified IAF wealth advisor. Since 2019, he has been helping Swiss citizens to organise their finances comprehensibly, independently and efficiently.

More about Eric & Schwiizerfranke

📌 Note: This article is for information purposes only and does not constitute personalised investment advice.

2 responses

  1. I have extensive experience with both Swissquote and IBKR, having used them for many years. The only advantage I see with Swissquote is access to Swiss-regulated mutual funds (those with an ISIN starting with «CH»). IBKR does not currently offer these. However, this might be for the best, as the performance of these assets is generally lackluster, even when factoring in CHF appreciation.

    Otherwise, IBKR is far superior on all fronts, including support. Swissquote's customer service is a joke, especially considering the exorbitant amounts they charge in commissions, spreads, and custody fees. They have let me down on numerous occasions. I've even experienced opaque pricing where they retroactively charged huge fees, giving investors no way to foresee those costs beforehand. Ironically, their defence against complaints about poor service is, «But we are cheaper than others!»-presumably referring to UBS and similar traditional banks.

    As for their trading platform, it belongs in the Stone Age. It has hardly changed in the past 15 years; apparently, they thought it was already perfect!

    My conclusion is that Swiss brokers simply aren't worth the cost. The potential inheritance issues with IBKR are a valid concern, but I reckon those barriers are manageable. When millions are on the line, professional advice can easily be hired if necessary. The money saved from just one year of avoiding Swissquote's fees will easily pay for it. If you doubt this, just try exchanging 100K CHF into USD on both platforms and see the difference for yourself! 🙂

    P.S. I am definitely not a day trader and keep most assets in just a few mutual funds.

    Reply

  2. Finally someone says it!
    All the rag-splitters out there are delighted at how cheap IBKR and the like are. And how many cents they can save and take early retirement minutes earlier. ONLY the fact that the money is in the USA (which is currently more than clear how risky this is) and how high the outlay is is concealed in other test reports.
    I once wanted to become a customer myself and then threw in the towel during onboarding. All that data to the USA? And then there's the pitch for «passive income» (securities lending) and upsells for market data (usually included with Swiss brokers), which is already built into the onboarding process ... what surprised me was that there is suddenly very little transparency about what the data costs and what risks (securities lending) this entails. The customer should simply be live quickly and preferably deposit money even before the account is opened. If the account is not accepted, then good night!

    My grandfather used to say: if you buy cheap, you buy twice. If you earn CHF 30 per hour, you should ask yourself why a cost saving of CHF 100 per year, for example, is worth all the hours spent on taxes, the complex platform operation AND additional risks (USA).
    Sometimes I think that many people lose sight of the big picture when it comes to saving on fees. But to each his own. End of comment 🙂 Thank you for your time in writing this report.

    Reply
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