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REVIEW SUMMARY

Swissquote Bank Europe (formerly Internaxx)

Swissquote Bank Europe (formerly Internaxx) is a subsidiary of Swissquote Group, Switzerland’s leading provider of online financial and trading services.

Based in the heart of the EU, an 'AAA' rated financial centre renowned for investor protection, Swissquote Bank Europe has full bank status and is regulated by the CSSF under the oversight of the European Central Bank.

Swissquote offers you global access to financial opportunities including US and international exchanges through self-directed investing or managed accounts in 22 currencies, and all the tools you need to make informed decisions and trade with confidence.

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With 20 years of experience servicing international investors and expatriates in over 150 countries, Swissquote Bank Europe gives you the reassurance and peace of mind that only comes with a leader in international investing.

Swissquote, Switzerland’s leading provider of online financial and trading services has acquired Internaxx to gain access to European markets and to further consolidate its standing as the first choice for international investors and expats.

Asset protection:

  • Internaxx Bank retains its full bank status and licence in Luxembourg.
  • As such, they remain a member of the Luxembourg Deposit Guarantee Fund (FGDL). The FGDL protects all investors by guaranteeing deposits up to the amount of EUR 100'000 per person.
  • Your securities assets are not held directly with the Bank but in Nominee with Central Securities Depositaries (CSDs) and other investment grade custodians.
  • These assets are segregated from the assets of the Bank and permanently identifiable as yours as the beneficial owner.
  • Operating in one of Europe’s major financial centres, Luxembourg is currently host to over 130 Banks and is the 2nd largest Mutual Fund centre in the world after the US, administrating 4 trillion euros in assets.
  • The Grand Duchy of Luxembourg is renowned for its stable and well-regulated economy, is one of only 3 AAA credit rated countries in the Eurozone and has strong investor protection laws.

Changes to services as a result of Internaxx's acquisition by Swissquote Bank Europe:

They will continue to provide a range of active investing and financial services for global citizens, including:

  • multicurrency deposit account
  • international stock
  • ETFs trading on 19 international exchanges
  • a wide array of investment funds
  • the ability to trade across web and mobile applications

They also provide access to their multi-lingual customer support team in Luxembourg.

Changes in currencies available:

Customers will continue to have access to EUR, USD, GBP, CAD, CHF, SEK, SGD, HKD and AUD.

Additionally, they will also have access to AED, ZAR, JPY, TWD, ILS, RUB, TRY, DKK, NOK, CZK, HUF, PLN, and MXN.

These were made available in June 2020 with the introduction of their new platform.

Changes to the markets available through Swissquote Bank Europe (formerly Internaxx):

They will continue to have access to the main stock exchanges of the following countries (as Internaxx offered): USA, Canada, UK, France, Netherlands, Belgium, Germany, Switzerland, Spain, Italy, Sweden, Australia, Hong Kong and Singapore.

Additionally, they will also have access to the stock exchanges of Austria, Denmark, Finland and Norway.

Please note that the Irish Stock Exchange is no longer available. 

Swissquote Bank Europe (formerly Internaxx) pricing:

The new rate card featured lower pricing of 0.10% for stocks and ETF commissions, on all stock markets including continental Europe and Asia-Pacific.

Example Old pricing New pricing
USD 10'000 of Microsoft shares EUR 24.04 EUR 14.95 (- 38%)
GBP 5'000 of iShares FTSE 100 EUR 20.83 EUR 14.95 (- 28%)
EUR 15'000 of Siemens shares EUR 39.95 EUR 15.00 (- 62%)
HKD 40'000 of Tencent shares EUR 54.63 EUR 14.95 (- 73%)


You can learn more about the pricing in the rate card below.

Account maintenance is now free as long as you trade at least once per month. A monthly fee of EUR 15 will apply otherwise. This replaced Internaxx's quarterly account maintenance fee.

Internaxx is now fully owned by Swissquote Group Holdings Ltd, the leading online bank in Switzerland with 360'000 clients worldwide, 3 million products and CHF 32.2 billion in client assets.

NOTE: 

We would highly recommend reading the 'expert verdict' section of this review to make an informed decision.

Additionally, here's a free guide that can help you achieve better results. In this guide, you'll learn:

  • Academic evidence only shared with a select few firms across the world
  • A real-life example of why you should never try to outguess the market
  • Why a fund's past performance is not enough to predict future returns
  • Why you need to focus on what you can control and why this leads to a better investment experience
  • Why you should accept the markets for what they are
  • What can impact behaviour and make people seek instant gratification

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The Pros

> Wide range of investments
> Low Cost
> Excellent DIY platform

The Cons

> Complex choice of instruments
> No advice
> Dealing commissions
What are the benefits of investing with Swissquote Bank Europe (formerly Internaxx)?

The benefits of investing with Swissquote Bank Europe (formerly Internaxx) as stated by them, can be summed up in these points:

1. Security:

  • They are based in Luxembourg, an ‘AAA’ financial centre rated renowned for investor protection.
  • Assets are held securely by a custodian and cash protected up to EUR 100'000.
  • Full bank status, regulated by the CSSF under the oversight of the European Central bank.

2. Account choice:

They claim that you can reach your investment goals through a suite of accounts.

  • If you want to manage your investments yourself, the Trading Account gives you access to international stocks, ETFs and mutual funds, with premium tools and research.
  • If you prefer a managed account, their Smart Portfolios are an automated low-cost investing solution that do all the work for you, with flexible regular investment options.

3. Choice of investment products:

They offer a wealth of investments to match your needs.

  • You can trade on 20+ global stock exchanges.
  • Access 500+ lower cost clean funds from leading asset managers.
  • Choose from over 5000 ETFs from Vanguard, iShares and more.

4. Low pricing:

Simple, transparent charges that offer value for money.

Trading Account
 0.1% trading commission on all markets, and save even more with trade bundles.
 No minimum investment on stocks & ETFs.
 Low fund fees.
Smart Portfolios
 Low all-in charges of 0.90% to 1.40% per year.
 No entry fee, no exit fee. 

5. Research and tools:

Free innovative tools and analysis to inform your decisions.

  • Real-time stock market data, reports and third-party analysis.
  • Premium analyst research from Morningstar.
  • Real time news from Dow Jones.
  • Technical analysis from Trading Central.

6. Support:

  • Specialist expatriate knowledge.
  • Multi-lingual servicing, based in Luxembourg.
Will there be a custody fee?

An account management fee will apply to accounts inactive (no trades or transfers in/out) for 24 months or more.

NOTE: Refer to the rate card attached below for more information.

Has the Smart Portfolio pricing changed?

Pricing for the Smart Portfolio has remained the same, however your Smart Portfolio account administration fee will be charged quarterly instead of annually.

NOTE: Refer to the rate card attached below for more information.

Will the change affect the pricing for mutual funds?

Pricing for mutual funds has changed from a quarterly administration fee of 0.1% per quarter to a transaction-based commission.

You will be charged a final pro-rated administration fee late-May.

NOTE: Refer to the rate card attached below for more information.

Will my account be subject to the Swiss transaction tax?

No, as your account will remain a Luxembourg-based account, it will not be subject to the Swiss transaction tax.

Is the Derivatives trading account still available?
Yes, the Derivatives trading account continues to be available on a separate platform at https://derivatives.internaxx.com.

Have you used Swissquote Bank Europe's platform?

Join the conversation - be the first to comment.

Please send your review and comments to marketing@aesinternational.com to help people make an informed decision.

Expert assessment of Swissquote Bank Europe (formerly Internaxx)

Our verdict is that this is an excellent platform for those individuals who are comfortable making their own investment decisions, can resist the natural temptation to make investment mistakes, and do not need sophisticated facilities for wealth structuring.

If you'd like us to review your holdings with Swissquote Bank Europe (approx. £250,000 or more), we invite you to request a Second Opinion.

GET A SECOND OPINION

Swissquote Bank Europe (formerly Internaxx) - Rate Card

Swissquote Bank Europe (formerly Internaxx) - General Terms and Conditions

Swissquote Bank Europe (formerly Internaxx) - Investing and Risk Warning

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