RatingAn ETF investor with CHF 50,000 pays about CHF 399 a year at UBS and about CHF 20 a year at Interactive Brokers. Same ETFs, same Swiss investor, a 20x difference. This page shows you where that money goes, broker by broker, so you can pick the one that fits how you invest.
Which broker is best in Switzerland?
For most people investing in ETFs, Interactive Brokers (IBKR) is the cheapest broker in Switzerland in 2026, at around CHF 20 a year for a CHF 50,000 portfolio. If you want a Swiss bank with a FINMA licence and esisuisse deposit protection, Saxo Bank is the best value at about CHF 46 a year. Swissquote is the most complete, but it costs more.
There's no single best broker for everyone, though. A beginner buying CHF 500 of ETFs a month needs something different from someone moving CHF 200,000 out of a big bank. So here's the short version by profile, with a runner-up for each.
Cheapest overall
Interactive Brokers costs about CHF 20 a year for the ETF investor profile (CHF 50,000, four ETF buys of CHF 5,000) and CHF 149 for an active trader. No custody fee, no Swiss stamp duty, and currency conversion at 0.002%.
Runner-up: DEGIRO at about CHF 26 a year. Very cheap, but no Swiss tax statement and fewer features.
Best Swiss bank
Saxo Bank is the cheapest broker with a Swiss banking licence: about CHF 46 a year for the ETF investor, with no custody fee and a free eTax statement. Commission is 0.08% (minimum CHF 3) on SIX.
Runner-up: PostFinance E-Trading at about CHF 110 a year, mostly because its CHF 72 custody fee comes back to you as brokerage credit.
Beginners and apps
neon invest and Yuh both cost about CHF 39 a year for the starter profile (CHF 10,000, twelve buys of CHF 500). Both are apps run with Swiss banks behind them, with 0.5% trading fees and no custody fee.
The catch: 0.5% gets expensive fast. From roughly CHF 20,000 to 30,000 invested, a classic broker like Saxo or IBKR wins.
ETF savings plans
Saxo Bank offers AutoInvest, an ETF savings plan inside a FINMA-regulated Swiss bank, with no custody fee. For monthly investing it's the cleanest setup in the table.
Runner-up: neon invest, with 0% trading fees on selected savings-plan ETFs (Swiss stamp duty still applies).
Active traders
Interactive Brokers is in a league of its own for active traders: about CHF 149 a year for our active profile (24 Swiss and 12 US trades, CHF 200,000 portfolio) versus CHF 1,013 at Saxo and CHF 2,227 at Swissquote.
Runner-up: DEGIRO at about CHF 406 a year.
Interactive Brokers costs about CHF 20 a year for the ETF investor profile (CHF 50,000, four ETF buys of CHF 5,000) and CHF 149 for an active trader. No custody fee, no Swiss stamp duty, and currency conversion at 0.002%.
Runner-up: DEGIRO at about CHF 26 a year. Very cheap, but no Swiss tax statement and fewer features.
Saxo Bank is the cheapest broker with a Swiss banking licence: about CHF 46 a year for the ETF investor, with no custody fee and a free eTax statement. Commission is 0.08% (minimum CHF 3) on SIX.
Runner-up: PostFinance E-Trading at about CHF 110 a year, mostly because its CHF 72 custody fee comes back to you as brokerage credit.
neon invest and Yuh both cost about CHF 39 a year for the starter profile (CHF 10,000, twelve buys of CHF 500). Both are apps run with Swiss banks behind them, with 0.5% trading fees and no custody fee.
The catch: 0.5% gets expensive fast. From roughly CHF 20,000 to 30,000 invested, a classic broker like Saxo or IBKR wins.
Saxo Bank offers AutoInvest, an ETF savings plan inside a FINMA-regulated Swiss bank, with no custody fee. For monthly investing it's the cleanest setup in the table.
Runner-up: neon invest, with 0% trading fees on selected savings-plan ETFs (Swiss stamp duty still applies).
Interactive Brokers is in a league of its own for active traders: about CHF 149 a year for our active profile (24 Swiss and 12 US trades, CHF 200,000 portfolio) versus CHF 1,013 at Saxo and CHF 2,227 at Swissquote.
Runner-up: DEGIRO at about CHF 406 a year.
The 10 brokers compared in detail
Each block below gives you the verdict, the yearly cost for our three profiles (starter, ETF investor, active), and the two checks that matter most in Switzerland: how safe your money is, and whether you get a tax statement you can import into your tax return.
Interactive Brokers: the cheapest overall4.4/5
IBKR is the low-cost reference for Swiss investors, and nobody in the table comes close for active trading. You pay CHF 60 (starter), CHF 20 (ETF investor) or CHF 149 (active) a year.
- Pros: no custody fee, no Swiss stamp duty, FX conversion at 0.002% (minimum USD 2), 135 exchanges, fractional shares and recurring investments.
- Cons: IBKR doesn't issue a Swiss eTax statement itself (third-party services such as datalevel create one for about CHF 50), and the platform takes some getting used to.
- Safety: you contract with Interactive Brokers (U.K.) Limited, regulated by the UK's FCA, not a Swiss bank, so esisuisse doesn't apply.
- Tax: list your positions yourself, or pay a third party for an eTax statement.
Read our full Interactive Brokers review
Saxo Bank: the best Swiss bank on price4.2/5
Saxo combines low prices with a Swiss banking licence. You pay CHF 45 (starter), CHF 46 (ETF investor) or CHF 1,013 (active) a year.
- Pros: no custody fee, 0.08% commission (minimum CHF 3) on SIX, FX at 0.25%, free eTax statement, AutoInvest savings plan.
- Cons: the percentage commission adds up for large active trades, and there are no fractional shares.
- Safety: FINMA-licensed bank, cash protected by esisuisse up to CHF 100,000.
- Tax: free Swiss eTax statement, Swiss stamp duty applies.
Read our full Saxo Bank review
Swissquote: the most complete Swiss broker3.9/5
Swissquote has the widest range in the table: stocks, ETFs, bonds, funds, options and crypto, plus share register entry for Swiss stocks. You pay CHF 142 (starter), CHF 156 (ETF investor) or CHF 2,227 (active) a year.
- Pros: very broad product range, CHF 9 flat for "ETF Leaders" above CHF 1,000, savings plan, fractional shares.
- Cons: custody fee of CHF 86 to 216 a year, 0.95% FX, a CHF 0.85 real-time surcharge per trade, and CHF 85 for the tax statement.
- Safety: FINMA-licensed bank, esisuisse up to CHF 100,000.
- Tax: eTax statement for CHF 85, stamp duty applies.
Read our full Swissquote review
Trading 212: commission-free, with fine print3.7/5
Trading 212 charges no commission on stocks and ETFs, which makes it the cheapest option for tiny monthly amounts. You pay about CHF 9 (starter), CHF 30 (ETF investor) or CHF 504 (active) a year, mostly FX.
- Pros: zero commission, FX at 0.15%, Swiss stocks available, fractional shares, automatic "Pies" for regular investing, positions transferable to another broker.
- Cons: no Swiss tax statement, no Swiss share register, and your shares are lent out by default unless you opt out.
- Safety: Swiss clients contract with the Cyprus entity, regulated by CySEC, with EU investor compensation up to EUR 20,000. That's the weakest safety score in the table.
- Tax: everything is on you at tax time.
Read our full Trading 212 review
PostFinance E-Trading: cheaper than it looks3.7/5
PostFinance charges a CHF 72 custody fee, but credits it back as brokerage every quarter. If you trade at least a few times a year, that fee effectively disappears. You pay CHF 81 (starter), CHF 110 (ETF investor) or CHF 2,520 (active) a year.
- Pros: custody fee returned as trading credit, PostFinance covers transfer-in costs up to CHF 800, savings plan from CHF 1.
- Cons: commission tiers are steep for small and large orders, FX margin of about 1%, tax statement for CHF 97.30.
- Safety: FINMA-licensed, state-owned bank, esisuisse up to CHF 100,000.
- Tax: eTax statement available for a fee.
Read our full PostFinance E-Trading review
DEGIRO: very cheap, very basic3.6/5
DEGIRO is the budget pick from Germany and the Netherlands. A trade on SIX costs CHF 6 in total. You pay CHF 74 (starter), CHF 26 (ETF investor) or CHF 406 (active) a year.
- Pros: flat fees, no custody fee, no Swiss stamp duty, FX at 0.25%.
- Cons: no Swiss tax statement, no savings plan, EUR 2.50 per exchange and year once you trade there.
- Safety: flatexDEGIRO Bank is supervised by BaFin in Germany. EU investor compensation covers up to EUR 20,000.
- Tax: you prepare your securities list yourself.
Cornèrtrader: a Ticino bank for experienced traders3.6/5
Cornèrtrader is the online trading arm of Cornèr Banca in Lugano and runs on Saxo's trading technology. You pay CHF 117 (starter), CHF 152 (ETF investor) or CHF 1,632 (active) a year.
- Pros: 36 exchanges, listed options and futures, share register entry for Swiss stocks on request, custody free up to CHF 10,000, tax statement for CHF 20.
- Cons: minimum commission of CHF 9 on SIX, custody fee from CHF 86 a year above CHF 10,000, no savings plan, and bonds and funds can't be traded online for now.
- Safety: FINMA-licensed bank, esisuisse up to CHF 100,000.
- Tax: eTax statement for CHF 20, stamp duty applies.
Read our full Cornèrtrader review
neon invest: simple ETF investing in an app3.4/5
neon invest is the easiest way to start: a clean app, savings plans on selected ETFs at 0% trading fee, and no custody fee. You pay CHF 39 (starter), CHF 130 (ETF investor) or CHF 2,664 (active) a year.
- Pros: simple, free eTax statement, savings plans from CHF 1, all prices in CHF.
- Cons: 0.5% per trade on Swiss stocks and ETFs, 1% on international stocks, a small product range.
- Safety: the bank behind neon is Hypothekarbank Lenzburg (FINMA), esisuisse up to CHF 100,000.
- Tax: free eTax statement, stamp duty applies.
Read our full neon invest review
Yuh: good for first steps, not for large amounts3.4/5
Yuh is the app from Swissquote and PostFinance. It's great for small amounts and has a tidy savings-plan feature. You pay CHF 39 (starter), CHF 130 (ETF investor) or CHF 3,096 (active) a year.
- Pros: no custody fee, 0.5% trading fee up to CHF 10,000 per trade (0.35% to CHF 20,000, 0.25% above), free recurring buys on about 30 selected ETFs, fractional shares.
- Cons: 0.95% FX on foreign securities, and your securities can't be transferred to another bank. To leave, you have to sell.
- Safety: your account sits at Swissquote Bank (FINMA), esisuisse up to CHF 100,000.
- Tax: eTax statement for CHF 25.
UBS e-banking Trading: the big-bank benchmark3.3/5
UBS is in the table as a benchmark, because many people still hold their portfolio there. You pay CHF 527 (starter), CHF 399 (ETF investor) or CHF 5,749 (active) a year.
- Pros: you're already a client, full service, share register entry, broad range.
- Cons: 0.35% custody fee plus VAT, high commissions even with the online discount, tax statement from CHF 100.
- Safety: FINMA-licensed bank, esisuisse up to CHF 100,000.
- Tax: eTax statement for a fee.
Read our full UBS e-banking Trading review
What does a broker really cost in Switzerland?
A broker's real cost is the sum of five things: the custody fee (often charged per quarter plus 8.1% VAT), the commission per trade, the Swiss stamp duty (0.075% on Swiss securities and 0.15% on foreign ones, charged by Swiss brokers only), the currency conversion fee when you buy in USD or EUR, and small extras like exchange or real-time fees.
Most comparisons only show you the commission. That's why Swissquote's CHF 9 ETF trade looks cheap until you add the custody fee. Here's what the ETF investor profile (CHF 50,000 portfolio, four ETF buys of CHF 5,000 on SIX) really costs at four brokers:
- Interactive Brokers: 4 × CHF 5 commission, no custody, no stamp duty = CHF 20
- Saxo Bank: 4 × CHF 4 commission + CHF 30 stamp duty = CHF 46
- Swissquote: CHF 86.48 custody + 4 × CHF 9.85 commission + CHF 30 stamp duty = CHF 156
- UBS: CHF 189.18 custody (0.35% + VAT) + 4 × CHF 45 commission + CHF 30 stamp duty = CHF 399
Notice the CHF 30 line: 0.15% stamp duty on CHF 20,000 of foreign-domiciled ETFs. You pay it at every Swiss broker and at none of the foreign ones. It's a real saving for foreign brokers, but only CHF 30 here, so it shouldn't be the only reason you choose one.
The currency fee matters more than people think. Buying USD 5,000 of a US stock costs USD 1 in commission at IBKR, but Swissquote, Yuh and UBS also charge up to 0.95% on the currency exchange. On a CHF 8,000 purchase, 0.95% is CHF 76 before you've paid any commission.
How do I invest CHF 100,000, and what does it cost at each broker?
If you invest CHF 100,000 in one go in a foreign-domiciled ETF on SIX, your first-year cost is commission plus stamp duty plus one year of custody. With the published price lists as of October 2026, it looks like this:
| Broker | Commission | Stamp duty | Custody (year 1) | Total year 1 |
|---|---|---|---|---|
| DEGIRO | CHF 6 | CHF 0 | CHF 0 | about CHF 6 |
| Interactive Brokers | CHF 50 | CHF 0 | CHF 0 | about CHF 50 |
| Saxo Bank | CHF 80 | CHF 150 | CHF 0 | about CHF 230 |
| Swissquote | CHF 9.85 | CHF 150 | CHF 162 | about CHF 322 |
| Cornèrtrader | CHF 120 | CHF 150 | CHF 108 | about CHF 378 |
| Yuh | CHF 250 | CHF 150 | CHF 0 | about CHF 400 |
| neon invest | CHF 500 | CHF 150 | CHF 0 | about CHF 650 |
Two things stand out. First, percentage fees like neon's 0.5% are fine for CHF 500 a month and painful for CHF 100,000. Second, the custody fee keeps coming back every year, while the stamp duty is paid once per purchase.
Before you invest a large amount in a taxable account, check whether you've filled your third pillar first. The best pillar 3a solutions give you a tax deduction that no broker can match. And if you want to see how a monthly plan grows over 20 years, our ETF calculator does the maths.
Swiss or foreign broker: which is better?
A Swiss broker costs more but takes care of the Swiss paperwork. A foreign broker is cheaper but leaves the paperwork to you. Here's the honest trade-off:
| Swiss broker (Saxo, Swissquote, PostFinance, Cornèrtrader, neon, Yuh, UBS) | Foreign broker (IBKR, DEGIRO, Trading 212) | |
|---|---|---|
| Swiss stamp duty | Yes, 0.075% or 0.15% per trade | No |
| Cash protection | esisuisse, up to CHF 100,000 | Foreign scheme (for example EUR 20,000 investor compensation) |
| Swiss eTax statement | Yes, free or for a fee | No |
| Regulator | FINMA | UK, Irish, German or Cypriot regulator |
| Cost for the ETF investor | CHF 46 to 399 a year | CHF 20 to 30 a year |
If you value peace of mind and a tax statement you can import in one click, a Swiss broker like Saxo is worth the extra CHF 26 a year. If you're comfortable listing your positions yourself and you trade US stocks, IBKR saves you real money. Many Swiss investors run both: a foreign broker for buying, a Swiss one for the simple stuff.
How safe is my money at a broker?
Your securities are the safest part. In Switzerland, shares and ETFs held in custody belong to you, not to the bank. If a Swiss bank fails, they're separated from the bank's assets and handed back to you. The same principle applies at regulated foreign brokers.
Your cash is different. At a Swiss bank, cash is protected by esisuisse up to CHF 100,000 per client and bank. At a foreign broker, the local scheme applies instead, often EUR 20,000 for investor compensation in the EU. You can check any Swiss provider's licence in FINMA's list of authorised institutions.
Taxes: what your broker does for you
In Switzerland, capital gains on private investments are tax-free, but dividends are taxed as income and your portfolio counts toward your wealth tax. The tax authorities can treat you as a professional trader if you trade very frequently, use leverage or finance purchases with debt, and then your gains are taxable.
A Swiss broker sends you an eTax statement (Steuerauszug) that you import into your tax software. It lists every position, its tax value and the withholding taxes you can reclaim. Saxo and neon offer it for free, Cornèrtrader for CHF 20, Yuh for CHF 25 and Swissquote for CHF 85. Foreign brokers don't provide one, so you look up each position in the federal ICTax course list yourself. For Interactive Brokers accounts, third-party services such as datalevel now generate an eTax statement for about CHF 50.
US dividends are taxed at 15% at source if you've signed the W-8BEN form. You can claim that 15% as a credit with the DA-1 form in your Swiss tax return. One more trap: US-domiciled ETFs can expose your estate to US estate tax. Irish-domiciled ETFs avoid that problem. To see how much wealth tax your portfolio triggers in your municipality, use our Swiss tax map.
How do I switch brokers?
Moving your portfolio is usually done security by security, and the old broker charges per position. In our data, transfer-out costs CHF 50 per position at Saxo and Swissquote, CHF 65 at Cornèrtrader, CHF 100 at neon and CHF 108.10 at PostFinance. At Yuh, securities can't be transferred out at all.
Open and verify your account at the new broker before touching the old one. Every broker in the table lets you do this online.
You list the positions to move. Some brokers, like PostFinance, refund transfer-in costs up to a limit.
For small positions, selling and buying again can be cheaper than paying CHF 50 or more per position. Check whether a sale triggers new stamp duty and commission.
Keep the last tax statement from the old broker. You'll need it for the year of the move.
How we rank brokers
Our ranking is cost-led and data-driven. Costs count for 45 points, calculated for three profiles weighted 30% (starter), 50% (ETF investor) and 20% (active). Safety counts for 20: a FINMA bank with esisuisse scores 20, a major EU or UK-regulated broker 14, a smaller foreign entity 10. Swiss convenience counts for 15 (eTax statement, CHF IBAN, share register, transferable positions), product range for 10 and features for 10.
Costs include custody fees with VAT, commissions with surcharges, Swiss stamp duty and currency conversion, with USD/CHF at 0.80 and EUR/CHF at 0.94. Missing data scores half the points, never full points. We re-run the ranking every month, and the table's profile switcher uses exactly the same profiles.
We don't cover every broker yet. Charles Schwab, VZ, TradeDirect and the cantonal banks will be added in the coming months.
My take as an investor
If I were starting today with CHF 50,000 and a monthly plan, I'd pick between two options. If I wanted the cheapest possible setup and didn't mind doing my own tax list, Interactive Brokers, no question. If I wanted Swiss banking, esisuisse and a free eTax statement, Saxo, at about CHF 46 a year. Both beat Swissquote and the big banks by a wide margin on cost. And honestly, if you're still at a big bank paying 0.35% custody, moving is the easiest CHF 300 a year you'll ever save.
Common mistakes when choosing a broker
The commission is often the smallest part of the bill. A CHF 9 trade with a CHF 86 custody fee costs more than a CHF 4 trade with none. Always compare the yearly total for your profile.
A 0.95% FX fee on US stocks costs more than most commissions. If you buy US stocks or USD-denominated ETFs, the FX rate decides the winner.
0.5% per trade is fine for CHF 500 a month. On a CHF 50,000 portfolio with CHF 5,000 buys, it's CHF 25 per trade. Past CHF 20,000 to 30,000, compare again.
At Yuh, securities can't be transferred out. If you ever want to move, you have to sell, and that can trigger fees on the way out and on the way back in.
Frequently asked questions
Which broker is the best in Switzerland?
For ETF investors, Interactive Brokers is the cheapest in 2026 at about CHF 20 a year on a CHF 50,000 portfolio. The best Swiss bank on price is Saxo Bank at about CHF 46 a year, with a FINMA licence, esisuisse protection and a free eTax statement.
Which is the cheapest broker in Switzerland?
It depends on your profile. For the ETF investor (CHF 50,000, four buys a year), Interactive Brokers is cheapest at about CHF 20, followed by DEGIRO at CHF 26 and Trading 212 at CHF 30. Among Swiss banks, Saxo is cheapest at CHF 46.
What is the most trusted trading platform in Switzerland?
The safest brokers are FINMA-licensed Swiss banks: Saxo, Swissquote, PostFinance, Cornèrtrader and UBS, plus the apps Yuh and neon, which run through Swiss banks. Your securities are segregated, and cash is protected by esisuisse up to CHF 100,000.
Can I use Interactive Brokers in Switzerland?
Yes. Swiss residents can open an account with Interactive Brokers, and you contract with Interactive Brokers (U.K.) Limited, regulated by the FCA, not a Swiss bank. You don't pay Swiss stamp duty. IBKR doesn't issue a Swiss eTax statement itself, but third-party services can create one for about CHF 45 to 50.
Is Swissquote reliable?
Yes. Swissquote is a FINMA-licensed Swiss bank listed on SIX, and cash is protected by esisuisse up to CHF 100,000. It's the most complete broker in our table, but at about CHF 156 a year for the ETF investor, it's not the cheapest.
Is it better to choose Saxo or Yuh?
For small amounts, Yuh is simpler and costs about the same (CHF 39 versus CHF 45 a year for the starter profile). From about CHF 20,000, Saxo is clearly cheaper: CHF 46 versus CHF 130 a year for the ETF investor, and your securities stay transferable.
Do I pay tax on trading profits in Switzerland?
Capital gains from private investments are tax-free in Switzerland. Dividends are taxed as income, and your portfolio counts toward wealth tax. If the tax office classifies you as a professional trader, your gains become taxable.
What is Swiss stamp duty on securities?
It's a federal tax that Swiss brokers charge on each trade: 0.075% on Swiss securities and 0.15% on foreign ones, such as most ETFs. Foreign brokers like Interactive Brokers and DEGIRO don't charge it. The ESTV explains it in detail (German).
