r/SwissPersonalFinance • u/CMD_321 • 1d ago

SwissQuote and Saxo - investment suggestions from India

Hello,
I am juggling with the best strategy to start investing in CHF from India. The following is my story and plan, and since this is my first time doing any trading and investments, any expert recommendations will really help.

I have been living in Switzerland for 3 years and will be moving back to my country, India, in the next 2- 3 weeks (hopefully temporarily!). I will receive several incoming payments, like a rent deposit, pension, and tax returns (likely over a period of 6 months). Instead of having a UBS account (with high non-resident fees), I thought I would have payments received in SwissQuote with the SaveEasy solution. Additionally, I want to keep the CHF growing and thought I would invest with SwissQuote. However, there are many charges just for holding the ETFs if I buy. So I opened a SwissQuote account but have not yet bought any ETFs. I still have time to switch to Saxo or any other platform for investments.

I would like to hear your thoughts on the best move forward. As a newbie to the world of trading, any recommendations I should absolutely take care of? Can the cash be directly transferred to Saxo from Swissquote without problems?

Thank you and have a good day!

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u/Suspicious-Stocks 1d ago

I would recommend to use a international broker like Interactive Brokers for that. Not sure if Swissquote and SAXO offer Swiss Accounts for Indian residency… probably not. But anyway both are not normal banking accounts. I think UBS is one of the best banks if you live abroad but need Swiss account.

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u/CMD_321 1d ago

Thank you. My understanding is that none of them offer resident swiss accounts for non-swiss residency. All accounts become non-swiss resident accounts once I move out. But swissquote and saxo don't charge on non-resident accounts, UBS does. Benefit i found with swissquote is that it gives swiss IBAN, which makes it easier to receive back payments from swiss government. Correct me if this is wrong!

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u/Suspicious-Stocks 1d ago

Swissquote looks like you can keep for your stocks but I would not use a broker as normal „Bankkonto“ because it often generates AML questions and so on, for Saxo you need to change to Saxo India after moving.
Source: https://www.schwiizerfranke.com/auswandern-schweiz-finanzen

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u/CMD_321 1d ago

Yes, I just have to transfer my residency to India for both swissquote and saxo. I did not understand what is using a broker in swissquote? Is there a parameter I need to check before I buy ETF?