Save money with a change of securities account
The stock exchange is a risky business. For the first time the prices go up and all who bet on rising prices are happy. And times goes’s in the cellar. Who then has not spread his investments accordingly and for example with put warrants or binary options for the necessary risk balance, can lose a lot of money. But the ups and downs also make part of the appeal of the stock market.
The situation is completely different when it comes to fees. The old Börsianer saying “Back and forth makes the pockets empty” is true already because with each transaction also always fees are incurred, which reduce the profit that you get from the price increase, sometimes significantly. To the transaction costs, which result with each purchase or sales and which one must pay to its bank, the acting broker, and the stock exchange, come however still further costs, which nibble ever further at personal net yields. There are on the one hand the account and depot fees and on the other hand the taxes, which one may not forget also. 25 percent final withholding tax and on it again 5.5 percent solidarity surcharge and if necessary. still church tax are not despicable and can make a sale transaction quickly to the loss. At these fees a shareholder can do only very little.
However, the shareholder can counteract the costs charged by his own bank. Quite simply by comparing the conditions of your own bank with those of other banks. The Trading costs in addition, the costs for the depot differ partly substantially. Up to 800 EUR is the annual fee difference between individual banks. That found out the magazine “finanztest”.
Online brokers and direct banks are usually cheaper than branch banks. But customers of branch banks can also save money if they forego cost-intensive advice and conduct their stock market transactions themselves online. Nevertheless, everyone should put the conditions of their bank to the test and consult comparative offers.
Often a provider change with depot transfer will be the most effective way to save money when trading with shares. Many on-line brokers and direct banks offer particularly attractive conditions straight for a complete depot change.
Only who moves, can save much money. The loyal long-term customer is usually the fool in the end.