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Anonymous

17 Mar 2022

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Stocks

Transferring Positions out of Saxo to Interactive Brokers

Hi all. I currently have 9 stocks in Saxo, on SGX, NYSE and HKEX. In view of Saxo's pricy custodian fees and the fact that IB recently removed their $10/month inactivity fee, I am planning on switching from Saxo to IB.

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However, Saxo imposes a transfer out fee of 50 EUR per ISIN (max. 160 EUR).

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  1. Does the max 160 EUR refer to the max sum I will be charged if I transfer all 9 of my stocks to IB?
  2. Is there a cheaper alternative to transferring my stocks from Saxo to IB? I am considering selling my current positions as well.

Thanks in advance!

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