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In the world of finance, it's a constant race for the best conditions and the most efficient service. The Saxo Bank Switzerland has recently announced its Pricing permanently revised and is now positioning itself as one of the most attractive options for Swiss investors!
With the new Saxo Bank fees, even the market leader Swissquote is being put under pressure. Not only through the trading fees, but also through many other advantages, as well as a exclusive bonus of over CHF 200 trading credits for our readersthe question arises:
Is Saxo the new top platform for your investments in Switzerland?
Saxo Bank was founded in Denmark in 1992 and has a location in Switzerland since 2008. You will find their new offices in the Circle, at Zurich Airport. As Saxo Bank (Schweiz) AG is a Fully licensed, FINMA-regulated Swiss bank it has a Swiss licence and Deposit protection up to CHF 100,000.
Saxo Bank is known for its innovative strength and extensive access to global markets. For a long time, Saxo Bank fees were not particularly attractive, but this has now changed. The reason for the price reduction?
Since Saxo Bank acquired the Dutch BinckBank, it has built up a client base of More than 1 million customers worldwide. In 2024, Saxo will therefore have a total of around 100 billion in assets under management and can therefore Extremely favourable conditions offer. This move positions Saxo Bank well ahead in the Swiss market, even ahead of established providers such as Swissquote.
You can find the exact Saxo conditions here described.
"Intelligent people learn from the mistakes of others".
We have compiled our top selection for you from all our tests and experience reports:
For an ETF or share purchase of CHF 1,000, Saxo Bank now offers the most favourable conditions on the Swiss market. These client-friendly Saxo Bank fees make it a first-class choice for anyone looking to invest cost-effectively.
Here is an overview of the conditions:
More precisely, the Saxo Bank order fees amount to:
Saxo Bank custody account fees are structured as follows:
There are 3 account groups, which makes the Saxo conditions even better:
But how do Saxo Bank's prices actually compare with Swissquote and the like?
| Vergleichskriterium | Saxo Bank | Swissquote | FlowBank |
|---|---|---|---|
| Order fees for international ETFs (orders over CHF 1,000) | CHF 3 | CHF 5.50 (ETF Leaders) | CHF 6.50 |
| Account management fees per year (deposit of CHF 30,000) | CHF 66 | CHF 80 | CHF 30 |
| Swiss deposit insurance | Yes | Yes | Yes |
| Offer for our readers | CHF 200 Trading Credits | CHF 100 Trading Credits | CHF 100 Trading Credits |
In addition to the low trading fees, Saxo Bank offers a number of other advantages:
You can find the exact Saxo conditions here described.
"Intelligent people learn from the mistakes of others".
We have compiled our top selection for you from all our tests and experience reports:
If you are in the Saxo Trader Go you can, for example, log in via the Search search for securities at the top right and optionally even for Filter security categories.
For example, if you enter the ISIN of an SPI ETF there, which you have previously entered on JustETF you will then be shown this directly in Saxo Trader.
A click on the blue "Trade" button opens the trading module, where the purchase (or later a sale) can be ordered.
Let's say you have a budget of CHF 1,000 and therefore click the number of shares upwards until the nominal value shown matches your budget.
The Duration of the order can also be set. The default setting here is G.T.C., which means "Good till Cancel". Alternatively, you can also set a time limit.
The trading fees in the example amount to CHF 3.73. You can have these explained to you by clicking on the "Trading fees" field:
You will then receive an absolutely transparent insight into the exact Saxo Bank Trading Fees and explains how the costs are calculated.
The Saxo Trader does not stop here, however, but even gives you the option of changing the costs by clicking on the "Costs" tab. Saxo costs to be calculated according to holding period.
The following screenshot has been cut off for reasons of space, but it will show you how high the custody account fees, the TER or other one-off and ongoing Saxo Bank fees are over the desired holding period! A very good feature, which we therefore emphasise here in the Saxo Bank Review!
You can close these details again via the "X" at the top right and return to the previous view. If you click on "Place order", you will be taken to a final, clear overview of your desired order and can then place it.
By acquiring BinckBank, Saxo Bank is able to offer a new, very affordable service for investors in Switzerland. However, if we could make a few wishes, we would improve a few aspects of the platform, such as the following Saxo Bank Disadvantages mend:
You can use the Saxo TraderGo solution on different devices. You can use the standard Saxo TraderGo solution in the Web browser or use the corresponding App on your mobile phone.
The web solution works tidy and is quickly grasped after a short time. It may be a bit much for beginners at first, but there is a big advantage. Help areawho can support you in its use.
The Mobile version has over 1,000 ratings in the app store and scores 4.3 out of 5 starswhich is an extremely good rating.
For professional traders there is the Saxo TraderPRO Solution that supports up to 6 monitors. The Saxo TraderPRO can be installed on a PC or Mac, but is not intended for "normal" private investors.
"Intelligent people learn from the mistakes of others".
We have compiled our top selection for you from all our tests and experience reports:
The improved, now outstandingly favourable conditionscombined with the advanced platformmake Saxo Bank an optimal choice for price-sensitive investors in Switzerland. On the net you will find Very positive reviews for Saxo Bank Switzerland. On Trustpilot, for example, the score is 4.4/5 stars.
Saxo Bank is Broker comparison in the comparison of trading fees clearly as Most favourable provider out.
A function for a automatic ETF savings plan would be nice, but we are still working on it at the moment. The Saxo Bank savings plans are planned for the second half of 2024.
If you would like to take advantage of this opportunity and benefit from the low fees, please use the link below to open an account. This way you support this blog, which makes such research possible and you even receive 200 francs in trading fees gift!
Have you already switched and gained your own Saxo Bank experience? Feel free to share your test experiences in the comments!
You can find the exact Saxo conditions here described.
Saxo Bank does not currently offer securities lending for Swiss clients. This is to come in the future, but will then be optional.
Saxo Bank is a private company that belongs to the Geely Holding Group. Geely is otherwise more active in the automotive sector and owns car brands such as Volvo and Polestar. Geely has its headquarters in China.
The Saxo Bank ownership structure is as follows:
Saxo Bank is of course regulated by FINMA and has a proper Swiss banking licence. This poses no risk to security, as Saxo Bank has a regular Swiss deposit guarantee of up to CHF 100,000.
Similar to Degiro, Saxo Bank also follows the FinSA requirements and therefore cannot offer all US ETFs to Swiss investors. In practice, however, this should not be a major problem for you. Because you will probably buy US ETFs with a Domicile in Ireland or Luxembourg, for example to optimise your taxes. Example: You can also buy the popular iShares S&P 500 ETF domiciled in Ireland with a 0.1% TER from Saxo Bank.
Sources:
In the world of finance, it's a constant race to offer the best conditions and the most efficient service. Saxo Bank Switzerland has recently revised its pricing permanently and is now positioning itself as one of the most attractive options for Swiss investors!
Price Currency: CHF
Operating System: Web
Application Category: Investment
12 Responses
Hello Eric
I opened my account today thanks to your information.
When will the CHF 200.00 appear in the account?
Hello Micael,
Thank you for using the link!
Have you already made a first deposit? You must make your first deposit within 30 days (1 franc is enough).
You will then find the 200 franc credits within 1-3 working days as follows:
- Click on the info symbol at the bottom left
- In the account details you will find the "Trading fee credits" of 200 francs.
Kind regards,
Eric
Hello Eric
Is it possible to generate and download an e-tax statement yourself or is this only possible via support?
Hello Martin,
the correct e-tax statement must be requested. However, in my opinion, you can do without it and use the (self-generated) transaction report to do your taxes - of course only if you don't have too many transactions. Otherwise, the Saxobank tax statement definitely makes sense.
As a German, you apparently don't get the trading credits over CHF 200 🙁
Hello Eric
Too bad you didn't include yuh in this comparison - that would certainly have been informative...
Hello Randy,
at Broker comparison you will find a broader comparison with comparable alternatives.
An extended test will be coming soon ... 🙂
Hi Eric
Can you please take another look at the Saxo. The fees have been massively reduced. Looks pretty promising. Your opinion would be interesting.
Thank you and greetings
Tom
Hi Eric
Yes, I would be very interested in that too.
I am currently leaning towards a switch from IBKR to Saxo.
Many thanks in advance
Greetings
Gio
The article has been completely updated 🙂 All fees and new features have been updated!
'updated' ???🧐
'updated' ?🤪
or simply 'updated' ?😂
😂 I sometimes spontaneously suspend the spelling and grammar rules in the comments section.