Currency Exchange Fees in Stock Trading

Greetings,

I just found out that the Swissquote bank is charging me a commission of 0.95% when I buy and sell stocks on foreign exchanges.

When looking for a cheaper solution I came across your broker comparison. The comparison shows that Saxo Bank is the cheapest option BUT I would like to know whether the comparison accounts for the purchase and sale of foreign currency for the purpose of purchasing stocks on foreign exchanges (in EUR or USD, for example).

I would appreciate a confirmation about this. Thanks and kind regards.

Hi there,

The securities broker comparison on moneyland.ch accounts for all fees (including broker-specific fees) except stock exchange fees and currency exchange spreads.

1. Some brokers account for stock exchange fees in their brokerage fees. Others do not. Fees charged by major stock exchanges are relatively low. Because there are an enormous amount of possible variations in stock exchange fees depending on the exchanges and securities involved in any given transaction, it is not possible for these fees to be accurately accounted for in the moneyland.ch comparison. You can find more information about stock exchange fees here.

2. Currency exchange spreads (the markup on currency purchases or sales above the interbank rates) are not accounted for in comparisons. However, exchange rates can significantly impact trading costs when you make frequent trades on foreign exchanges. Exchange rates vary between brokers and can change on an ongoing basis. Unfortunately the moneyland.ch comparison cannot, at this point, help you find the broker with the current best rates.

Best regards from Moneyguru