Experience with Saxo Bank or DeGiro for stock trading

(Mark Oliver) #1

Has anybody experience with Saxo or DeGiro ?
At the moment I am German banks for stock trading but want to diversify.

How does it work with Capital gains tax ?
In Germany 25% is automatically withdrawn by bank .

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(Tak) #2

If you are rich nomad🏆, you do not need to read this and I am sorry I have no experience of those brokers and banks. Basically for maximize profit, reducing cost is the first step of investment. Because your real profit is the remaining balance after payment⛈.

Negative effects are

  1. :scream:Margin :zap:
    https://www.brokerage-review.com/article/brokerage-firm-margin-rates.aspx
    If you pay 9.5% for ten years, you lose almost 95%.:sob:
  2. :sweat:Trade fees​:open_umbrella:
    https://www.thestreet.com/online-trading/compare-best-online-brokers.html
  3. :joy:annual fee, fund transfer fee, subscription fee, fund management fee, ADR fee, internet fee, research fee, etc :tornado:
  4. :fearful:waste of your time i.e. junk stocks, daytrading, dollar-cost method, technical analysis, complex derivatives etc those increase your cost.:volcano:

:ram:Positive effects are the interest and security insurance how much your broker guarrantees your total fund.:yum:

You could minimize the negative effect of tax by keeping stock as long as possible, especially of growing company​:ox::ox:, and sell a part of it as much as you need to live your life. Tax is the rest of remaining profit after payment of your necessary expenses.:kissing_smiling_eyes:

So you had better study hard to keep your money in your pocket first…:rainbow:

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(ualo) #3

Depends on the markets you want to trade on. @MarkOliver

Try out Interactive brokers.

:slight_smile:

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