- Over 10 years of monthly purchases, fees range from about 4'000 francs at a traditional bank to about 600 at Interactive Brokers.
- Interactive Brokers pays no Swiss stamp duty and charges no custody fees.
- Swissquote is a Swiss bank. Interactive Brokers serves Swiss residents from the United Kingdom.
Over 10 years: the full bill
Example: you invest 1'000 francs a month for 10 years in a global ETF. Purchases and custody included, a traditional bank costs you about twice as much as Swissquote, and Swissquote more than three times as much as Interactive Brokers.
Purchases + custody, ETF bought in francs on the Swiss exchange, 5% annual return. Excluding reduced ETF rates and currency exchange. ViaVest calculation.
Moving from a traditional bank to Interactive Brokers saves more than 3'300 francs over 10 years: more than three months of savings.
The detailed calculation
| In CHF | Traditional bank | Swissquote | Interactive Brokers |
|---|---|---|---|
| 120 purchases | 1'380 | 882 | 600 |
| Custody | 2'560 | 1'176 | 0 |
| Total | 3'940 | 2'058 | 600 |
Traditional bank: typical e-banking rates of a major Swiss bank in 2026, 0.75% per order (minimum CHF 10) and 0.35% custody a year, stamp duty included. Rates vary between banks. Advice at the counter usually costs more.
The price of a purchase
At Interactive Brokers, a purchase costs a few francs; at Swissquote, several dozen once you buy a few thousand francs' worth. On the “fixed” tariff, Interactive Brokers takes 0.05% of the amount, with a minimum of 5 francs per order, exchange fees included. Swissquote charges fixed tiers, plus stamp duty.
Swissquote also offers a reduced rate on a list of selected ETFs. If yours is on it, the gap narrows for small monthly purchases.
The price of a purchase, amount by amount
| Buying Swiss shares | Swissquote | Interactive Brokers |
|---|---|---|
| CHF 1'000 | CHF 6.60 | CHF 5.00 |
| CHF 5'000 | CHF 33.60 | CHF 5.00 |
| CHF 10'000 | CHF 37.35 | CHF 5.00 |
| CHF 20'000 | CHF 94.85 | CHF 10.00 |
Interactive Brokers, “fixed” tariff: 0.05% of the amount, minimum CHF 5, exchange fees included. The “tiered” tariff starts at CHF 1.50, but exchange and clearing fees come on top. Swissquote: tiered commission, plus CHF 0.85 for market data, plus 0.075% stamp duty. ViaVest calculation.
Stamp duty
Every purchase through a Swiss intermediary pays federal stamp duty; Interactive Brokers, which is not one, does not. It is 0.15% on a foreign security, and almost all major global ETFs are domiciled in Ireland. Buying 10'000 francs of an ETF therefore costs 15 francs of stamp duty at Swissquote, nothing at Interactive Brokers.
Custody fees
Custody is charged every year, even if you do nothing: that is what widens the gap over time. Swissquote charges roughly 90 to 220 francs a year depending on the portfolio value. Interactive Brokers charges nothing.
Swissquote custody fees, by tier
| Portfolio value | Swissquote, per year | Interactive Brokers |
|---|---|---|
| Up to CHF 50'000 | CHF 86 | CHF 0 |
| CHF 50'000 to 100'000 | CHF 108 | CHF 0 |
| CHF 100'000 to 150'000 | CHF 162 | CHF 0 |
| Above CHF 150'000 | CHF 216 | CHF 0 |
8.1% VAT included. Above CHF 1 million, a surcharge applies at Swissquote.
Currency exchange: the trap with dollar securities
Buying a security in dollars with francs means converting, and that is where the gaps are largest. At Interactive Brokers, it costs a few cents. At Swissquote, automatic conversion costs close to 1% according to comparison sites.
Buy the franc-listed version of the ETF when there is one, or first convert your francs in a dollar sub-account.
Safety and tax
Your securities remain yours in both cases: they are not part of the broker's balance sheet. Swiss residents open their account with Interactive Brokers (U.K.) Limited, regulated in the United Kingdom; securities are held in the United States and covered by SIPC protection. Swissquote is a Swiss bank regulated by FINMA, and your cash is protected up to 100'000 francs.
For your tax return, Swissquote sells a Swiss tax statement. Interactive Brokers does not provide one, but Swiss services generate one for around twenty francs.
Our view
Interactive Brokers
You invest every month and are comfortable with an English-only platform. It wins on purchases, stamp duty, custody and currency exchange.
Swissquote
You want a Swiss bank, with nothing to set up. You pay for that comfort, knowingly.
Going further
No need to move everything. Opening an online broker account for your new purchases is enough to cut most of the fees. Transferring existing securities is usually charged per position: compare before asking for it.
At Swissquote, group your purchases. With tiered commissions, one purchase every two or three months costs less than three small monthly ones, for the same amount invested.
Keep your bank for everyday banking. Salary account, cards and payments can stay at your bank: it is the custody and trading of investments that costs a lot, not the current account.
New to investing? Our guide investing in Switzerland covers the basics before you choose a broker.
Your next step
To do, at your own pace:
Path “Start investing” · step 5 of 8
Frequently asked questions
Is Interactive Brokers safe for a Swiss resident?
Your account is held with Interactive Brokers (U.K.) Limited, regulated in the United Kingdom. Securities are held in the United States and covered by SIPC up to USD 500'000, including USD 250'000 in cash.
Why doesn't Interactive Brokers charge Swiss stamp duty?
Stamp duty only applies to trades that go through a Swiss intermediary. Interactive Brokers is not one.
How much is custody at Swissquote?
CHF 86 to 216 a year depending on the portfolio value, VAT included. Interactive Brokers charges no custody fee.
How do I declare an Interactive Brokers account in my Swiss tax return?
Interactive Brokers does not provide a Swiss tax statement. You can enter each security yourself, or use a Swiss service that generates the statement, from CHF 19.
Can I hold Swiss francs at Interactive Brokers?
Yes. You can choose the franc as your base currency and buy securities listed on the Swiss exchange without any conversion.
Which broker offers support in English?
Both. Interactive Brokers runs entirely in English. Swissquote offers English, French and German.
Sources: 2026 e-banking fees of major Swiss banks (ubs.com key4 trading, postfinance.ch, raiffeisen.ch) ; swissquote.com, price lists and tax statement ; interactivebrokers.co.uk, European stock commissions (Switzerland, “fixed” tariff, October 2026) ; thepoorswiss.com and mustachianpost.com on the IB UK entity and SIPC ; datalevel.ch and steuerauszug.ch for tax statements ; Federal Stamp Duty Act. Checked in September and October 2026. ViaVest calculations.