Broker Cost Calculator
Switzerland
Every broker available to Swiss investors, ranked by real all-in cost for your exact contribution size and cadence. Select your current broker from the dropdown to highlight it in the results, then see the full comparison update live.
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What the calculator will tell you
The headline result changes dramatically with contribution size. These are the decisions that actually move the number.
- FX conversion is the biggest lever. IBKR charges 0.002% FX. Swissquote and Yuh charge 0.95% — 475x more. If you convert currencies to invest, IBKR wins by a large margin at any contribution size.
- For CHF-only ETF investing, Neon is the cheapest below CHF 600/trade. At 0.5% with a CHF 1 minimum and zero custody, it undercuts everyone on small regular contributions. Above CHF 600, IBKR’s CHF 3 flat takes over.
- Swissquote’s ETF Leaders commission is now tiered: CHF 3 / 5 / 9. A CHF 400 purchase costs CHF 3, not CHF 9. But the CHF 60/year custody minimum still makes Swissquote expensive for smaller portfolios.
- Saxo Bank Swiss removed its custody fee in February 2025. At 0.08% commission (min CHF 5) and 0.25% FX, it is now competitive for larger contributions and occasional currency conversion.
- Spread matters more than most investors realise. At 0.10% full spread, a monthly CHF 500 contribution costs CHF 6/year in spread drag alone — more than many custody fees. Use limit orders and mid-session timing.
- Swiss stamp duty is not modelled — and it favours foreign brokers. Swissquote, Neon, Yuh, and Saxo CH must collect 0.15% on foreign ETF purchases. IBKR and DEGIRO do not. See the stamp duty section below.
What this calculator covers
- 6 broker options available to Swiss investors
- Trading commissions with minimum fee logic
- FX conversion markup and fixed fees
- Bid/ask spread drag on each buy
- Swissquote custody fee with annual min/max cap
- Annual drag in basis points for comparison
- ETF-level costs (TER, tracking difference)
- Swiss stamp duty (0.075% domestic / 0.15% foreign)
- Swiss withholding tax or Verrechnungssteuer
- Rebates, cashback, or promotional rates
- Execution quality beyond spread assumptions
How to use this calculator
Three inputs drive most of the result: contribution size, how often you invest, and whether you need FX conversion. Get those right first.
Enter your contribution amount in CHF, frequency, and investment horizon. These determine how many times you pay each repeatable fee.
Select your current broker from the dropdown to highlight it in the results. The full comparison updates live as you change any input.
All 6 brokers rank automatically by total fees. Fix the biggest leak first — usually commission or spread, rarely what the headline advertises.
Compare all Swiss broker costs
Adjust any input and the ranking updates instantly.
How to act on the result
Neon and Yuh both charge 0.5% per trade. On CHF 500 that is CHF 2.50 — reasonable. On CHF 5,000 that is CHF 25 — expensive. Interactive Brokers at CHF 3 flat beats both above roughly CHF 600 per trade. Swissquote's ETF Leaders tiers from CHF 3 (under CHF 500) to CHF 9 (above CHF 1,000). For Saxo, the CHF 5 minimum dominates on small contributions.
Use limit orders and avoid trading in the first and last 15 minutes of the session. On SIX Swiss Exchange, major UCITS ETFs trade at 0.05–0.10% full spread during normal hours. On BX Swiss (Neon), liquidity is lower — use 0.15–0.20% as a conservative estimate. Choosing a higher-AUM ETF sharing the same index can cut spread by 50% or more.
Swissquote and Yuh both charge 0.95% FX — the highest on this list. Saxo and DEGIRO charge 0.25%. Interactive Brokers charges approximately 0.002%, which is 475 times cheaper than Swissquote. If you regularly convert CHF to invest in non-CHF assets, IBKR is the dominant choice. Neon avoids FX entirely by operating in CHF only on BX Swiss.
Only Swissquote charges custody in Switzerland (0.10% p.a., min CHF 60/year, max CHF 200/year). The minimum means small portfolios pay a disproportionate share — a CHF 5,000 portfolio still pays CHF 60/year in custody alone. If Swissquote ranks poorly for your inputs, switching to Neon, Yuh, IBKR, Saxo (Swiss), or DEGIRO eliminates this cost entirely.
Swiss stamp duty: the cost the calculator does not model
Swiss stamp duty is a federal transaction tax that applies at Swiss-regulated brokers. Foreign brokers are exempt. It is not modelled above — but it is real, and it systematically favours IBKR and DEGIRO.
Swiss stamp duty (Stempelabgabe, also called Umsatzabgabe for securities) is a federal tax on securities transactions. The rate is 0.075% on Swiss-domiciled securities and 0.15% on foreign-domiciled securities. Most UCITS ETFs are domiciled in Ireland or Luxembourg — so the 0.15% rate applies to the majority of what Swiss index investors buy.
Swiss-regulated brokers — Swissquote, Neon, Yuh, and Saxo Bank Swiss branch — are legally required to collect this tax on behalf of clients and remit it to the Swiss federal government. Foreign-regulated brokers (IBKR, DEGIRO) are not subject to Swiss stamp duty and do not collect it. The saving is automatic and requires no action from the investor.
| Trade size | ETF type | Swiss broker stamp duty | IBKR / DEGIRO stamp duty |
|---|---|---|---|
| CHF 500 | UCITS (Irish/Lux) | CHF 0.75 | CHF 0 |
| CHF 1,000 | UCITS (Irish/Lux) | CHF 1.50 | CHF 0 |
| CHF 5,000 | UCITS (Irish/Lux) | CHF 7.50 | CHF 0 |
| CHF 10,000 | UCITS (Irish/Lux) | CHF 15.00 | CHF 0 |
| CHF 500 | Swiss-domiciled | CHF 0.38 | CHF 0 |
Swiss broker vs foreign broker: the full trade-off
Choosing a foreign broker like IBKR or DEGIRO over a Swiss broker is not just a fee decision. Here is what you actually give up, and what you gain.
| Factor | Swiss brokers (SQ, Neon, Yuh, Saxo CH) | Foreign brokers (IBKR, DEGIRO) |
|---|---|---|
| Regulator | FINMA (Switzerland) | SEC/FINRA (IBKR) or AFM/DNB (DEGIRO) |
| Cash deposit protection | esisuisse CHF 100,000 | SIPC $500,000 (IBKR) / ICF EUR 20,000 (DEGIRO) |
| Swiss stamp duty | Must collect (0.075% / 0.15%) | Exempt — CHF 0 |
| Swiss tax statement | Provided (Wertschriftenverzeichnis) | Not provided — manual work or third-party tool required |
| DA-1 form convenience | Pre-filled or assisted | Manual (IBKR provides annual tax report; still requires effort) |
| Swiss IBAN / deposits | Yes — direct CHF deposits | International transfer required (DEGIRO EUR; IBKR USD/EUR) |
| Languages | German, French, Italian, English | English primarily (IBKR has some DE/FR; DEGIRO has DE) |
| Commission (CHF 500 trade) | CHF 3 (Neon), CHF 3 (SQ ETF Leaders), CHF 5 (Saxo) | CHF 3 (IBKR), EUR 1 (DEGIRO Core) |
| FX conversion cost | 0.95% (SQ, Yuh) / 0% (Neon, CHF-only) | 0.002% (IBKR) / 0.25% (DEGIRO) |
How safe is your money at each broker?
The most important distinction: securities (ETFs) are segregated assets everywhere. They are legally yours and do not form part of the broker's balance sheet if it fails. Cash is where protection limits matter.
- Regulated by FINMA (Switzerland)
- Listed on SIX Swiss Exchange — public company with full disclosure
- Cash deposits: esisuisse protection up to CHF 100,000
- Securities: segregated — protected regardless of broker failure
- Neon: custody via Hypothekarbank Lenzburg (FINMA-regulated bank)
- Yuh: banking infrastructure backed by Swissquote
- Cash deposits: esisuisse protection up to CHF 100,000
- Securities: segregated — protected regardless of app failure
- Regulated by FINMA for Swiss-resident clients
- Danish parent (Saxo Bank A/S) regulated by the Danish FSA
- Cash deposits: esisuisse protection up to CHF 100,000
- Securities: segregated — protected regardless of broker failure
- US-regulated (SEC, FINRA); EU entity via IBKR Ireland
- SIPC protection: up to $500,000 including $250,000 in cash
- Additional Lloyd's of London coverage above SIPC limits
- Securities: segregated — protected regardless of broker failure
- Dutch-regulated (AFM/DNB); part of flatexDEGIRO AG
- ICF (Investor Compensation Fund): up to EUR 20,000 in cash
- Securities held in a segregated foundation (SPV structure)
- Note: DEGIRO uses a nominee structure — voting rights not directly held
In June 2024, FINMA-regulated FlowBank collapsed — demonstrating that even Swiss regulation does not guarantee broker survival. Client securities were protected throughout and returned to investors, but the recovery process took several months and required active effort. The lesson: Swiss regulation reduces risk, but does not eliminate it. Diversifying between two brokers is one way to manage this for larger portfolios.
ETF savings plans: which Swiss brokers support automated investing?
A savings plan removes the friction of manual monthly investing. For passive ETF accumulators, it also removes timing temptation. Support varies significantly across the six brokers.
Free automated savings plans with zero commission on executions. Fractional investing from CHF 10. Set frequency, amount, and the app handles the rest. The strongest fully automated solution in the Swiss neobroker space.
Savings plans available on select ETFs with fractional amounts. Reduced commission applies on plan executions. More product choice than Yuh, but more setup effort. Suited to investors who already use Swissquote and want to automate without switching brokers.
Recurring investment orders can be scheduled (daily, weekly, monthly) with a specified amount or share count. Setup is more involved than a neobroker savings plan, but the cost per execution (CHF 3 flat) is the lowest on this list. Suited to investors already comfortable with the IBKR platform.
Recurring investment plans are available on select instruments. The CHF 5 minimum commission per execution makes savings plans more expensive than Yuh or IBKR for small monthly amounts. Better suited to larger monthly contributions where the 0.08% rate matters more than the minimum.
No native automated savings plan. Investing requires a manual purchase each period. For disciplined investors this is manageable — but there is no automation layer. Neon's cost advantage (CHF 1 minimum commission, 0% custody) survives even with manual execution.
No automated savings plan feature. Each purchase is manual. DEGIRO's EUR 1 Core ETF handling fee remains competitive for manual monthly execution, but investors who want full automation should look elsewhere.
Best broker for each type of Swiss investor
The calculator gives you the exact number. These shortcuts give you the likely answer before you open it.
Simple app, Swiss IBAN, fractional investing from CHF 10, and free automated savings plans. Backed by Swissquote's banking infrastructure. 0.5% commission is not the cheapest, but the friction reduction for a first-time investor is worth it. Upgrade to IBKR once you know what you are doing.
0.5% commission with a CHF 1 minimum, zero FX markup, zero custody. For an investor buying VWCE or a similar CHF-listed UCITS ETF monthly, Neon is consistently the cheapest Swiss-regulated option below CHF 600 per contribution. The BX Swiss selection is limited but sufficient for standard index ETF investing.
CHF 3 flat commission versus 0.5% at Neon and Yuh. On CHF 2,000 that saves CHF 7 per trade — CHF 84/year on a monthly schedule. Add in stamp duty savings and best-in-class FX rates and the advantage is substantial at scale. The learning curve is real but manageable.
0.002% FX versus 0.95% at Swissquote and Yuh. On CHF 10,000 in annual conversions that is CHF 0.20 versus CHF 95. IBKR's Forex conversion tool is the most cost-efficient available to Swiss retail investors by a large margin. No other broker comes close.
FINMA-regulated, publicly listed, Swiss tax statement provided, 1,100+ ETF Leaders at tiered commissions (CHF 3/5/9), and the widest product range of any Swiss broker. More expensive than foreign brokers, but the total convenience package — tax reporting, language, IBAN — is unmatched for investors who value simplicity over fee optimisation.
Since removing the custody fee in February 2025, Saxo is competitive on larger contributions: 0.08% commission (min CHF 5), 0.25% FX, zero custody, wide global product range, FINMA-regulated. The CHF 5 minimum stings on small monthly buys, but for investors making quarterly or larger contributions, Saxo often sits between Swissquote and IBKR on total cost.
Want the full cost model in a spreadsheet?
The EU Investor Cost Toolkit goes further: broker comparison across three scenarios, UCITS vs US ETF drag with withholding tax layers, 30-year projection with charts, and a full cost dashboard — all in one .xlsx file with 11 tabs and no macros.
30-day money-back guarantee. Educational content only — not personalised investment or tax advice.
Go deeper
Frequently asked questions
Which broker is cheapest for Swiss investors in 2026?
It depends on your contribution size and frequency. For small monthly contributions of CHF 100–300, Neon Invest or DEGIRO Core typically rank first due to low percentage commissions (0.5%, minimum CHF 1) and no custody fees. For larger contributions above roughly CHF 600, Interactive Brokers wins on commission at CHF 3 flat. When FX conversion is needed, Interactive Brokers is decisive at 0.002% versus 0.95% for Swissquote and Yuh. Swissquote's minimum CHF 60 per year custody makes it expensive for smaller portfolios. Use the calculator above to find the answer for your exact situation.
How does Swissquote's custody fee affect long-term costs?
Swissquote charges 0.10% per annum custody, with a minimum of CHF 60 per year (CHF 15 per quarter) and a maximum of CHF 200 per year. On a CHF 10,000 portfolio the charge is CHF 100 per year (at the percentage rate). On a CHF 5,000 portfolio it is still CHF 60 per year because the minimum kicks in. On a CHF 200,000 portfolio it is capped at CHF 200. The minimum is the key issue for smaller portfolios: you pay CHF 60 per year regardless of how little you hold. Investors with portfolios below roughly CHF 60,000 who hold no other preference for Swissquote should compare Neon, Yuh, Interactive Brokers, Saxo Bank (Swiss), or DEGIRO Core — all of which charge zero custody.
What makes Neon Invest different from Swissquote and Yuh?
Neon only trades on BX Swiss (the Bern exchange), meaning its selection is limited to roughly 240 stocks and 70 ETFs. It charges no FX markup because everything trades in CHF on BX Swiss with no multi-currency conversion. This makes it cost-competitive for Swiss-listed ETFs, but it cannot access US ETFs, most international stocks, or the wider range available on SIX. Yuh and Swissquote both trade on SIX and offer a much broader product universe, but add a 0.95% FX markup for non-CHF assets. Yuh has no custody fee and is backed by Swissquote infrastructure. Neon is best for investors who only need CHF-denominated index ETFs and want to keep all costs minimal.
Is Interactive Brokers a good option for Swiss investors?
Yes, particularly for two scenarios: contributions above roughly CHF 600 per trade where the flat CHF 3 commission beats Neon and Yuh's percentage-based fees; and any investor who needs to convert currencies, since Interactive Brokers charges approximately 0.002% FX markup versus 0.95% at Swissquote and Yuh. The platform has a steeper learning curve than Swiss neobrokers, but charges zero custody, zero platform fees, and fractional shares are available. For a long-term passive ETF investor making regular contributions and occasionally converting currencies, Interactive Brokers is often the lowest all-in cost option in Switzerland.
Do Swiss investors need FX conversion for standard ETF investing?
Not necessarily. Major UCITS ETFs such as VWCE, CSIF World ex-CH, and iShares core ETFs are listed in CHF on SIX Swiss Exchange, meaning no currency conversion is required at point of purchase. Neon investors never encounter FX conversion since BX Swiss operates exclusively in CHF. FX becomes relevant if you buy ETFs on non-Swiss exchanges, hold USD or EUR cash in your account, or invest in US-listed products. When FX conversion is needed, the cost difference between brokers is large: approximately 0.002% at Interactive Brokers versus 0.95% at Swissquote and Yuh, or 0.25% at Saxo Bank and DEGIRO.
How does Saxo Bank Classic compare in Switzerland after removing the custody fee?
Saxo Bank removed its custody fee for Swiss-resident accounts in February 2025, meaningfully improving its competitiveness for larger portfolios. Swiss Saxo Classic now charges 0.08% commission (minimum CHF 5 per trade) and 0.25% FX markup, with zero annual custody cost. The CHF 5 minimum makes Saxo expensive for small regular contributions — a CHF 300 monthly investment pays CHF 5 commission (1.67% effective rate). On larger trades of CHF 5,000 or more, the 0.08% percentage approaches and can exceed the minimum, making Saxo more competitive. Compared to Swissquote, Saxo charges lower FX (0.25% vs 0.95%) and no custody, but higher per-trade minimums on small amounts.
What is Swiss stamp duty and which brokers charge it?
Swiss stamp duty (Stempelabgabe) is a federal transaction tax: 0.075% on Swiss-domiciled securities and 0.15% on foreign-domiciled securities such as Irish or Luxembourg UCITS ETFs. Swiss-regulated brokers — Swissquote, Neon, Yuh, and Saxo Bank Swiss branch — are legally required to collect this tax. Foreign-regulated brokers (Interactive Brokers, DEGIRO) are not subject to Swiss stamp duty and do not collect it. On a CHF 10,000 purchase of a UCITS ETF, Swiss broker clients pay CHF 15 in stamp duty; IBKR and DEGIRO clients pay CHF 0. This cost is not modelled in the calculator above but represents a meaningful long-term advantage for foreign-regulated brokers, particularly at higher contribution sizes.
Is my money safe with a foreign broker like IBKR or DEGIRO in Switzerland?
Yes, with important distinctions. ETFs and other securities are segregated assets at all regulated brokers — they are legally yours and do not form part of the broker's balance sheet if it fails. Cash held at the broker is where protection limits matter. Swiss-regulated brokers fall under esisuisse deposit protection up to CHF 100,000. IBKR clients benefit from SIPC protection up to $500,000 including $250,000 in cash. DEGIRO clients fall under Dutch ICF protection up to EUR 20,000 in cash. The 2024 FlowBank collapse demonstrated that even FINMA-regulated Swiss brokers can fail — but client securities were protected throughout. For investors holding above protection thresholds in uninvested cash, diversifying across two brokers is a reasonable precaution.
Which Swiss brokers offer ETF savings plans?
Yuh offers free automated savings plans with fractional investing from CHF 10 and zero commission on plan executions — the best fully-automated option in the Swiss market. Swissquote offers savings plans on select ETFs with fractional amounts and reduced commissions. Interactive Brokers supports recurring investment orders that can be scheduled monthly. Saxo Bank supports recurring investment plans on select instruments, though the CHF 5 minimum commission limits appeal for small monthly amounts. Neon and DEGIRO do not offer automated savings plans — both require manual execution each period.
Should I choose a Swiss broker or a foreign broker?
It depends on what you value. Foreign brokers (IBKR, DEGIRO) are cheaper on commissions, exempt from Swiss stamp duty, and IBKR has best-in-class FX rates. Swiss brokers (Swissquote, Neon, Yuh, Saxo CH) provide FINMA regulation, Swiss IBAN compatibility, German and French language support, and simplified Swiss tax documents including the Wertschriftenverzeichnis and DA-1 pre-filled. The convenience premium at Swiss brokers is real — but so is the cost premium. Cost-focused passive ETF investors typically save CHF 100–500 per year at IBKR versus Swissquote on a mid-size portfolio, before accounting for stamp duty savings. If tax reporting simplicity and Swiss regulatory comfort matter more than fee optimisation, a Swiss broker is a rational choice. Most serious investors eventually land on IBKR for execution and keep a Swiss account for local banking convenience.
QuantRoutine provides educational content only. Nothing on this page is an offer, solicitation, or recommendation to buy or sell any security or to open an account with any specific broker. Calculator outputs are estimates based on your inputs and simplified modelling assumptions — real costs depend on execution quality, exact fee schedules, rebates, account type, and applicable Swiss tax rules. Fee data is sourced from official broker documentation and is accurate as of May 2026; broker fee schedules change and you should always verify current terms before making decisions. Swissquote ETF Leaders commission is tiered (CHF 3 / CHF 5 / CHF 9 depending on trade size); the custody fee minimum is CHF 60 per year (CHF 15 per quarter). Swiss stamp duty (0.075% domestic / 0.15% foreign securities) applies at Swiss-regulated brokers and is not modelled in the calculator. Spread assumptions can vary significantly from actual execution, especially on BX Swiss where liquidity is more limited than SIX. DEGIRO's EUR-denominated fee schedule applies specific nuances that may affect Swiss residents differently from the simplified calculator output. You are responsible for your own financial decisions and for confirming the tax and legal rules that apply in Switzerland.