[Jerome]

Thanks for the info.

I will try the demo account.

[Jerome]

Thanks for the info

Can you tell me if there are Japanese small caps there, like Sumiken Mitsui Road or Ebara Foods?

[Jerome]

Thanks for your ferocious reply.

Small update, after having some contacts with the Corner team. Frankly, we must leave it to them, in terms of responsiveness and customer relations, they are very good. It's nice and it's a change to have "local" correspondents who take the trouble.

Regarding my request for a VIP/PRO account, they are sorry, but it is limited to day traders who trade on margin. So not possible for me. The guy almost apologized on the phone, it was nice. I still told him that I found the currency conversion fees very high, at least compared to transaction fees for stocks which are still quite reasonable. He offered to open accounts in other currencies, without additional fees. Which I did of course, immediately. I then asked him how we could exchange currencies, there too you have to go through them via email (it's quite funny anyway). I asked him if there was also a 0.5% conversion fee, but there, good news, if the amounts are large enough, it can go down to 0.2%. So, that changes things considerably, especially since when the title is resold, there will not automatically be a conversion into Swiss francs. I already like that a lot more.

I'm going to insist a little bit with this broker, because I find that there is a good background, between the customer service and the interface, even if it lacks a lot of basic options. And then I need to diversify my financial intermediaries.

[Jerome]

I continue my tests with Corner, this time on a British title. First try, the brokerage fees are again astronomical. I don't understand. I look and I guess that they put me in a "Private" account instead of "Capital" (impossible to see what type of account you have in the interface). I send them an email. They are quite quick and efficient in responding. They confirm that I am indeed in "Private" (which is weird since I paid more than 75k). They make the change immediately.

I take the opportunity to ask them if it is possible to have double authentication, because it is not there and I do not see where to activate it. They set it up for me from home. It goes via Google Authenticator (like Degiro). Cool, no need to install a new application. It is a shame that we cannot set it up ourselves by default, but hey, at least it is possible to do it.

I'm trying to trade my English stock again. The brokerage fees are very slightly lower. I still don't understand. There is a small difference, but it's still huge, 15 times more expensive than at Interactive Brokers!!! Unbelievable.

I search and I see that in addition to the commission for the transaction, they apply 0.5% of currency conversion fees! My god !!! The devil is definitely in the details. So, I get out for barely less than at Postfinance, which is already very expensive.

I will contact my advisor at corner to see what the conditions are for switching to PRO/VIP, apparently you save on transaction fees, but I have doubts about these conversion fees which are decidedly very high.

Another bad surprise, no possibility to withdraw money via the platform, you have to send them an email 🙁

I'm a little chilled there... 🙁

 

 

[Jerome]

First attempt at buying a small cap via Corner.

Good news, the title is trading, unlike Degiro.

Bad news, it's a Canadian title and I hadn't seen the prohibitive prices at Corner on this market (4 cents per share and the price of the title in question is low).

So, it's 5.5 times more expensive than Interactive and even twice as expensive as Postfinance! Yes, yes it's possible.

Well, let's say that it was bad luck on this test and I'll give it the benefit of the doubt.

I like the interface though.

[Jerome]

Half happy is already better than half disappointed!! 🙂

So Degiro does better, he finds 3 out of 4. But with them it's after that that things go wrong...

At Interactive Brokers, of course, I find them all.

Anyway, I'm still going to go with Corner, it will be a good alternative.

Thank you, brother.

 

[Jerome]

That's exactly what their salesman told me 😉 Yes I plan to put more than 75K if it's good.

Try looking like this at random:

– LIVE on Nasdaq

– BEGR and NIL-B in Stockholm

– BMS in London

Thanks 😉

 

[Jerome]

Final verdict on Degiro, after further disappointments today:

– Simple interface at first glance, but not really intuitive. A general impression of being messy and sloppy.

– Despite broad coverage of markets, including Japanese ones, there are many small caps that cannot be found. In addition, I have noticed many bugs in placing orders on several small caps. The order is cancelled for no reason, sometimes with a warning by email, other times without warning. Even when trying to place the order again, it fails for no reason, which means that it is not possible to trade the stock. Degiro is therefore unusable for small caps, whether in Japan or anywhere else. It is a shame.

In short, Degiro is a discount broker, with all that implies. So I will keep it to trade "discount assets", i.e. ETFs, but nothing else. After a few months of use, I can say that the difference with Interactive Brokers is huge, and not only in terms of rates.

This does not suit me, because I was counting on DG to diversify my financial intermediaries. If I could, I would put everything with IB of course. However, even if the latter enjoys a reputation for great solidity, and history has proven it, and even if its assets are already distributed among dozens of banks, experience has also shown us that no one is safe from a big hiccup.

So, after some thought, I will take yet another broker and go to Corner, following the positive reviews of dividinde. I will assign the asset types based on the qualities of each broker. It would look something like this:

– Immo + Cash: Postfinance
– Small caps Japan: Interactive Brokers
– Small caps others: Cornertrader
– ETFs: Degiro
– Bitcoin: Gemini

Bro, can you please confirm if Corner works well for small caps on the Swiss, European and American markets?

By moving towards a configuration of this type, it will complicate the management of assets a little, involving cash transfers from one side to the other. The tax return will also be a little more tedious. However, it will allow for the diversification of deposits and therefore risks. This is important, because soon I will be counting on this capital and its income to live...

[Jerome]

New small update on Degiro. I just searched for Japanese titles to acquire.

Out of 4 titles I only find one. On Interactive Brokers I have them all.

Really more and more disappointed!

[Jerome]

Ah, this is the classic trap. We attract the customer with attractive transaction fees, we charge him for custody fees and we make him captive with dissuasive transfer fees.

You should still try IB, it's worth it, even if it's just a small part of your capital. Minimal transaction and custody fees, Swiss IBAN, IT and financial security, extreme speed and reliability of orders, plethora of choice of instruments and markets, etc.

[Jerome]

I don't know what your capital is, but for a start I actually think that going through a real estate ETF is a very good thing.

Security Analysis will be, I think, a bit too full-bodied at this level. After The Intelligent Investor, I recommend "Investing in Long-Term Stocks" (see "Reference Books" under the Tutorial menu). It's a bible and will allow you to understand a lot of things. The reading is much more digestible than Security Analysis, which you can jump on a bit later.

For the rest I suggest you ask questions in the members section of the forum. I have just given you access to it.

 

 

[Jerome]

I have been with Degiro for 7 months.

Overall, I have a fairly mixed assessment.

The prices are certainly quite cheap compared to what we know in Switzerland, but much more expensive than IB.

The interface, which is intuitive at first glance, hides some curious limitations with respect to certain orders that one would like to place (e.g. the impossibility of setting market orders for certain values). Nothing serious of course, one can easily get around the problem, but it makes things more complicated.

More annoyingly, some orders are curiously cancelled without reason and without warning. For example, I recently placed a continuous limit order (equivalent to a GTC – good Till cancelled). The order was not placed, for no reason. So, as it was normally still active (continuous) I wanted to cancel it to be able to place an order with IB, but impossible. I contacted customer service who told me that I had cancelled the order… Which is not the case.

In short, a little disappointed all the same, after all the good things I had heard about it on the web. It must be said that IB sets the bar very high and that we can only be disappointed by their competitors.

However, I will keep DG for a few positions, for example ETFs or not too exotic securities, sufficiently liquid, for the purpose of diversification.

[Jerome]

Welcome to you Orion

Thank you for your post and your compliments regarding the site and the work.

No worries about your question, you have to start somewhere. We've all been there.

As I state in "The Determinants of Wealth", more complex strategies, based on stocks among others, should rather be reserved for already fairly well-stocked capital, of the order of 50k. Below that, it is better to stay on one or more ETFs, for the sake of diversification and transaction costs.

That being said, I completely understand that you might be impatient. I've been there too. Nothing prevents you from buying a few lines of shares for fun. If that's what you want, I advise you to go through a cheap broker like IB or DG. And of course, you keep your ETFs as portfolio funds.

 

[Jerome]

Hi Toto

Welcome to you. You can find the relevant wallet simply in the menu, under "Wallet". Otherwise click here: https://www.dividendes.ch/allocation-dactifs/

The wallet is reserved for premium members (paid part, but as you say, for a symbolic cost).

Have a nice day

[Jerome]

Ah Mystik, you don't lose your bearings;

Well, a little competition is always good, but frankly all these apps are starting to look alike. Between those of traditional banks, those of neo-banks, and now the joint ventures, we have a nice choice, and that's a very good thing, but I don't really see any real interest in having one or the other.

The central issue is obviously that of the rates. As you say bro, from this point of view, Yuh is still quite expensive for large amounts. This is not really surprising, because they seem to target "young people", a bit like Neon (which does not offer the possibility of investing directly - but it offers services from other associated startups). I recently opened an account with them for my small business. During the identification process, I had to go through a 2-minute mini-video call during which a girl who could have been my daughter spoke to me informally while asking me questions. This has its charm, in times of Covid it is always good to take 😉 In any case, it's a change from the serious bankers in suits and ties of the time who were expensive and brought no added value.

We will also have to see what FlowBank is worth: https://www.dividendes.ch/forum-2/topic/flowbank/#post-410791

Haven't really heard anything about this, other than what I already mentioned in the post regarding pricing.

In short, you have to make your choice and for investing I'm sticking with IB and DG for now, with a bit of Postfinance for the b&h. Corner would have interested me, just a shame that there are very few Japanese market stocks that are negotiable.

 

 

 

[Author]

Posts