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I know I need a stock broker to buy stocks for me, but what about after the stocks are bought? Do I need to continue paying for the broker for as long as I own the stocks?
Hi there,
A broker is necessary if you want to trade stocks through stock exchanges. However, in order to hold stocks you normally only need to have a custody account at a custodian bank.
Some companies still issue paper stock certificates and if you can obtain these, you can hold them yourself without the need for a broker or custodian bank. However, actual physical shares are rarely issued in Switzerland today.
It is worth noting that some cheap online brokers offer custody accounts at no extra charge. The moneyland.ch online broker comparison clearly breaks down all fees charged by Swiss online brokers, including the costs of custody accounts.
Best regards from Moneyguru
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