Interactive Brokers fees Switzerland 2026: what a share purchase really costs
I recently switched from DEGIRO to Interactive Brokers because of the fees. Here I work out what a trade on SIX and in the US really costs at IBKR, and where DEGIRO is actually cheaper.
Interactive Brokers fees in Switzerland are among the lowest you can get as a private investor. That is exactly why I switched to Interactive Brokers. The fee model is more complicated than at other brokers, though: there are two pricing models, minimum fees, third-party fees and a separate currency conversion. In this article I go through it all step by step, with concrete examples in francs and dollars.
As of October 2026, based on the interactivebrokers.com pricing pages for stocks and currencies. Fees may change; check current terms before trading.
Interactive Brokers fees in Switzerland: the two pricing models
At IBKR you choose between Tiered and Fixed. You can switch the model in your account settings.
- Tiered: you pay a low IBKR commission plus the exchange, clearing and regulatory fees separately. For small orders this is usually cheapest.
- Fixed: you pay a fixed rate that already includes third-party fees. It is easier to plan, but the minimum fee is higher.
For private investors with normal order sizes, Tiered is cheaper in most cases. Fixed is worth it if you want to know the exact cost in advance.
What does a Swiss share cost at Interactive Brokers?
For shares on the SIX Swiss Exchange in francs, these commissions apply:
| Tiered | Fixed (SmartRouting) | Fixed (Direct Routing) | |
|---|---|---|---|
| Commission | 0.05% of trade value | 0.05% of trade value | 0.10% of trade value |
| Minimum per order | CHF 1.50 | CHF 5 | CHF 6 |
| Maximum per order | CHF 49 | none | none |
| Third-party fees | extra | included | included |
The 0.05% applies up to a monthly trading volume of CHF 50 million. That practically never affects private investors, so I leave out the lower tiers.
Interactive Brokers fees in Switzerland: a worked example
What does that mean in francs? Here is the comparison for Swiss shares with DEGIRO, where a SIX trade costs a flat CHF 6:
| SIX order size | IBKR Tiered (excl. third-party fees) | IBKR Fixed | DEGIRO |
|---|---|---|---|
| CHF 1,000 | CHF 1.50 (minimum) | CHF 5 (minimum) | CHF 6 |
| CHF 5,000 | CHF 2.50 | CHF 5 (minimum) | CHF 6 |
| CHF 12,000 | CHF 6 | CHF 6 | CHF 6 |
| CHF 20,000 | CHF 10 | CHF 10 | CHF 6 |
| CHF 100,000 | CHF 49 (maximum) | CHF 50 | CHF 6 |
This is the point many comparisons miss: for Swiss shares, IBKR is cheaper for small and medium orders. From around CHF 12,000 per order, though, DEGIRO’s flat price wins, because IBKR charges a percentage. If you buy Swiss shares rarely but in large tranches, DEGIRO is no worse.
What does a US share cost at Interactive Brokers?
For US shares, IBKR charges per share, not as a percentage:
| Tiered | Fixed | |
|---|---|---|
| Per share | USD 0.0035 | USD 0.005 |
| Minimum per order | USD 0.35 | USD 1 |
| Maximum per order | 1% of trade value | 1% of trade value |
| Third-party fees | extra | included (except regulatory fees) |
If you buy 20 shares at USD 100, the Fixed model works out at USD 0.10, so you pay the USD 1 minimum. For 500 shares at USD 20, so USD 10,000, it is USD 2.50. At DEGIRO the same trade costs EUR 2 plus 0.25% currency conversion, so about USD 25 for the conversion alone.
Interactive Brokers currency conversion: the underrated advantage
This is where IBKR plays its biggest strength. Currency conversion costs 0.002% of the amount, at least USD 2 per order. So you convert CHF to USD almost at the interbank rate.
| Amount CHF to USD | IBKR | DEGIRO AutoFX (0.25%) |
|---|---|---|
| CHF 2,000 | USD 2 (minimum) | about CHF 5 |
| CHF 10,000 | USD 2 (minimum) | about CHF 25 |
| CHF 50,000 | USD 2 (minimum) | about CHF 125 |
My tip: at IBKR, do not convert separately for every purchase; convert a larger amount from CHF to USD once. Because of the USD 2 minimum, this pays off from a few thousand francs. You then hold a USD balance and buy US shares and ETFs without further conversion costs.
Are there hidden costs at Interactive Brokers?
I would not call them hidden, but you should know about them:
- Third-party fees in the Tiered model: exchange, clearing and regulatory fees come on top of the commission. They are small, but not zero.
- Market data: real-time quotes for individual exchanges can cost a subscription. For long-term ETF purchases you usually do not need it.
- Spread and product costs: the difference between buy and sell price and the TER of ETFs apply at every broker, including IBKR.
Interactive Brokers taxes in Switzerland: what applies?
As with DEGIRO, as a Swiss client you do not get a Swiss tax statement. You enter your positions as of 31 December and dividends in the securities list yourself, based on the annual reports from the IBKR portal. Since IBKR is not a Swiss securities dealer, no Swiss federal transfer stamp duty applies.
When opening the account, you fill in form W-8BEN. That way the reduced withholding tax rate under the double taxation treaty applies to US dividends, and you can reclaim the rest with form DA-1. Swiss dividends, as everywhere, have 35% withholding tax deducted, which you reclaim via your tax return.
Opening an Interactive Brokers account: how it went for me
- Start via the referral link and choose the “Individual” account type.
- Enter your personal details, investment experience and tax residence, including W-8BEN.
- Verify your identity with an ID.
- Choose a pricing model: Tiered for most private investors.
- Deposit CHF by bank transfer and convert part into USD if needed.
Opening takes a little longer than at DEGIRO, because IBKR asks more questions. Plan half an hour for it.
My experience: is switching from DEGIRO worth it?
I switched because of the lower fees, and on cost IBKR delivers. The cheap currency conversion in particular makes a noticeable difference for US shares and ETFs. The honest downside: the dashboard feels cryptic and is nowhere near as user-friendly as DEGIRO. I am still finding my way around and sometimes need longer than necessary for simple things.
- Pro: very low commissions, especially for small and medium orders
- Pro: currency conversion for 0.002%, at least USD 2
- Pro: huge choice of exchanges and products
- Con: cluttered platform with a steep learning curve
- Con: fee model hard to grasp at a glance
- Con: for large SIX orders, DEGIRO is cheaper
Interactive Brokers or DEGIRO: which broker for which profile?
The worked examples give a fairly clear picture. This is how I would decide today:
- Monthly ETF savings plan with small amounts: both are cheap. DEGIRO at EUR 1 per core selection ETF is simpler; IBKR Tiered is similarly cheap but more complicated.
- Regular purchases in US dollars: IBKR, clearly. Currency conversion at 0.002% saves you many times the order fee on every larger amount.
- Swiss shares in small tranches: IBKR Tiered, because you pay from CHF 1.50 instead of CHF 6.
- Swiss shares in large tranches above CHF 12,000: DEGIRO with its flat CHF 6.
- You want it simple and clear: DEGIRO. The fee savings at IBKR do little for you if you do not feel at home on the platform.
That is why many experienced investors use both: DEGIRO for the simple ETF savings plan, IBKR for US shares and larger reallocations. That is not a contradiction but a sensible division of labour.
Who is Interactive Brokers in Switzerland for?
IBKR suits you if you invest regularly, often buy in US dollars and are willing to learn a more complex platform. For beginners who mainly want to buy ETFs every month, DEGIRO is more pleasant. And if you do not want to trade yourself at all, a robo-advisor such as Selma or True Wealth is a better fit. For retirement saving, see the pillar 3a fees comparison.
Interactive Brokers coupon code
Open your account at Interactive Brokers via my referral link and get USD 1 in IBKR shares for every USD 300 deposited, up to USD 1,000. To qualify, deposit at least USD 10,000 within 30 days and hold the balance for a year.
You can find all bonuses side by side in the Swiss finance app referral bonus comparison. If you use my code or link, you get a goodie, and in most cases I receive a referral fee.
Frequently asked questions about Interactive Brokers fees in Switzerland
What does a Swiss share cost at Interactive Brokers?
In the Tiered model 0.05% of trade value, at least CHF 1.50 and at most CHF 49, plus third-party fees. In the Fixed model 0.05%, at least CHF 5, third-party fees included.
What does a US share cost at Interactive Brokers?
In the Fixed model USD 0.005 per share, at least USD 1. In the Tiered model USD 0.0035 per share, at least USD 0.35, plus third-party fees.
How expensive is currency conversion at IBKR?
0.002% of the amount, at least USD 2 per order.
Is Interactive Brokers cheaper than DEGIRO?
Mostly yes, especially for US shares thanks to the cheap currency conversion. For Swiss shares from around CHF 12,000 per order, DEGIRO’s flat price is cheaper.
Tiered or Fixed, which should I choose?
For most private investors Tiered is cheaper, especially for small orders. Fixed is easier to plan but has higher minimum fees.
Verdict: Interactive Brokers fees in Switzerland
For me, Interactive Brokers is the cheapest broker I have used so far, mainly because of the currency conversion. Commissions on SIX are lower than at DEGIRO for small and medium orders; for very large orders it flips. The price is a platform you need to get used to. If that does not put you off, you save a fair amount in fees over the years.
Not investment advice. This article reflects my personal experience and publicly available terms. Tax notes do not replace tax advice.