Updated: 18 September 2026.
This article is educational and does not constitute personalised investment advice.
Broker comparisons often focus on the visible trading commission. For a long-term Swiss investor, that is only one part of the bill.
Currency conversion, custody fees, Swiss tax administration, market access, product choice and the cost of moving a portfolio can matter just as much. More importantly, the cheapest broker is useful only if the investor is comfortable enough with it to maintain a disciplined investment plan for decades.
Four serious options for a Swiss ETF investor
| Broker | Headline pricing | Custody | FX / tax convenience | Guidefinances use case |
|---|---|---|---|---|
| Interactive Brokers | Swiss shares from 0.05%, min. CHF 1.50 tiered | No inactivity/account minimum | Very low-cost global infrastructure; Swiss tax work less turnkey | Cost-focused global investor |
| Saxo Bank Switzerland | SIX 0.08%, min. CHF 3; US 0.08%, min. USD 1 | CHF 0 | 0.25% FX; free e-tax statement | Preferred Swiss-based alternative |
| Swissquote | Swiss/US/UK trades from CHF 3; ETF Leaders CHF 3–9 | From CHF 20/quarter + VAT | Swiss platform and tax ecosystem | Swiss convenience / broad range |
| DEGIRO | US €1 + €1; SIX CHF 5 + CHF 1; selected ETFs €1 handling | No classic percentage custody fee | Additional FX/connectivity costs may apply | Low-cost secondary option |
Interactive Brokers: difficult to beat on global cost
Interactive Brokers remains exceptionally competitive for investors who buy international securities and are comfortable with a more professional platform. Its tiered pricing for Swiss shares starts at 0.05% with a CHF 1.50 minimum, while individual IBKR Pro accounts have no account minimum and no inactivity fee.
Its biggest advantage is broader than the commission schedule: global market access and low institutional-style currency conversion make it particularly suitable for portfolios containing securities in several currencies.
The trade-off is convenience. A Swiss investor prepared to manage tax data and a more complex interface may see that as trivial; someone who wants a Swiss tax statement and local support may reasonably pay more.
Saxo has changed the Swiss comparison
Saxo deserves renewed attention in 2026. Saxo Bank Switzerland currently charges 0.08% for standard stock and ETF trades, with minimums of CHF 3 on SIX and USD 1 on major US exchanges. It charges no custody or inactivity fee, applies a 0.25% FX conversion fee and provides a free e-tax statement. It is a FINMA-regulated Swiss bank.
This makes Saxo the most interesting Swiss-based middle ground in our comparison: substantially more convenient for Swiss administration than a foreign broker, yet far less expensive than the traditional Swiss-broker model used to be.
Its AutoInvest service also offers commission-free purchases for a selection of more than 100 ETFs, although investors should still compare the underlying ETF selection and total product costs rather than choosing an ETF merely because the purchase commission is zero.
Swissquote: convenience has a price
Swissquote has dramatically broader recognition among Swiss investors and offers a mature platform and extensive product range. Trading fees for Swiss, US and UK shares now start at CHF 3 for small transactions, while selected ETF Leaders on SIX cost CHF 3–9 per trade.
The important difference is custody. Private-account custody charges begin at CHF 20 per quarter and rise with assets, with VAT added.
That is not necessarily irrational. Some investors deliberately pay for Swiss custody, local administration and familiarity. But these are services, not free features. They should be priced as such.
DEGIRO: still inexpensive, no longer the obvious default
DEGIRO remains inexpensive for selected transactions: US shares currently cost €1 plus €1 handling, SIX shares CHF 5 plus CHF 1, and the Core ETF Selection carries a €1 handling fee with zero headline commission. Currency, connectivity and other external costs can apply.
For existing satisfied clients, there may be little reason to move. For a new Swiss investor choosing from scratch in 2026, however, IBKR’s global cost structure and Saxo’s new Swiss pricing make the comparison much closer.
Guidefinances view
Interactive Brokers remains our preferred cost-focused choice for experienced, globally diversified Swiss investors.
Saxo is our preferred Swiss-based alternative for investors willing to pay a little more for Swiss regulation, local infrastructure and a free e-tax statement.
Swissquote remains credible where Swiss institutional familiarity and product breadth are worth the additional recurring cost, while DEGIRO remains competitive but is no longer the automatic low-cost answer.
Do not change broker for a CHF 5 saving on one trade. Over decades, what matters is the combination of recurring costs, taxes, foreign exchange, execution quality and the probability that you will actually stick with the investment process.
Fees reviewed on 18 September 2026 and should be checked before opening or transferring an account.
Guide Finances 