Page 17 - ASSET MANAGER 11 (EN)

ASSET MANAGER • NO. 11/2019 BANK COMPARISON • 17
FOREX MARGINS IN E-BANKING
THE NEW BANK SECRET?
For the mature investor managing his own securities portfolio online, (Execution Only), the jungle of bank fees is increasingly opaque.
Author: Roger Fromm, Founder, INVESTORY AG
Depending on the provider, the investor today must buy a complicated service package, which is difficult to compare with other offers.
Banks' creativity in launching more and more complicated fee models and new types of fees is unstopped. At the same time, asset management margins are eroding (study p. 40/41) and regulatory costs are skyrocketing. The digital leaders are the winners (study on page p. 30 - 32).
Transparency in the securities business is given by most providers. In foreign exchange costs, however, absolute darkness prevails. If an investor buys a security in a currency
OVERALL RANKING
other than the account currency, it automatically incurs ex- change costs, which can be steep.
No bank so far lists the price spreads (currency spreads) between buying and selling in their fee overview. On request, all banks declare their margins with the excep- tion of UBS, Credit Suisse, Zürcher Kantonalbank, VP Bank and Bank CLER.
We therefore asked these banks for an official statement and calculated the missing foreign exchange spreads on the basis of the prices published online. For banks with (*), however, the foreign exchange costs are missing.
cornertrader
Swissquote
VZ Depotbank
Bank zweiplus
Postfinance
TradeDirect
MIGROSBAN
Bank CLER *
Helvetisch
money-net
Hypothekarba
Clientis,
Raiffeisen Schweiz
Zuger Ka
Zürcher Kant
VP Ba
St. Gal
Credit
UBS
nk
K
e Bank
nk Lenz
Zürcher Regional Bank
ntonalbank
*
onalbank
ler Kantonalbank
Suisse *
burg
0 10 20 30 40 50 60 70 80 90
Passiver Anleger max. 15
CORE PASSIVE INVESTOR
Aktiver Anleger max. 15
CAPITAL
15%
Trader max. 15
RATIO
3 T 5 r %a n s p a r e n z m a x . 2 0
ACTIVE INVESTOR
15%
TRADER TRANSPARENCY 15%
20%
Bonität max. 35
In the overall ranking, the rated banks achieve between 21.78% and 84.89% of a max. 100%
Source: INVESTORY AG