Open Bank Accounts for "Trading"

maxmmm

Mentor Group Gold
Few months ago we discussed here about banks that will open accounts if you tell them you want to INVEST- close money in funds with high fees etc ...
It was mentioned that many banks in CH\Liechtenstein\Luxembourg will open IF you tell them you wanna close the money in investment. I called a few in LU and heard the same (ING Bank said they open for non-resident for 100k investment)

Honestly I don't trust all these BS funds and hate closing money in low interest deposits or face high monthly fees, but what if I tell banks I want to use their brokerage services to trade, will they be more open to opening accounts?

I wonder if this same thing may work for more "traditional" banks, not brokers.

I'm looking for something similar to SwissQuote (essentially gives you a bank account in CH with zero fees as long as you trade from time to time) - but a more traditional bank.
It sounds like it should work, after all you are trading so you are paying the bank fees...

Thoughts? Any ideas for such banks?
 

EUR99

Active Member
In theory yes but you’ll be stuck if they want funds locked away or moved into a purpose built trading account

you could play a chicken and egg game and it might work for you just depends on various factors
 

djaheim

Silver Member
Theoritically it should work. Subject to how much you are bringing into the bank. They will probably get you an RM who will hook you up with their borokerage services while he looks after your basic account. Subject to their terms and conditions. For instance Barclays offshore have a requirement for 25K GBP for international clients. To open an account. So even if you will be using their brokerage services you will still need to maintain 25K in your current account. If you balance goes below this, you will incur some monthly charges anything above this, no fees.
 
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