Success for Stress Tests Hinges on Data, Not Failures

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The success of the European Union's bank stress tests hinges on how much detail regulators provide about the basis for their conclusions, not on the number of lenders that fail, investors said.


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Hello, If this is a good method wondered why nooned talked about them for this purpose on the forum.
I wanted to know if someone had experience cashing out crypto gains to Saxo bank ?
1)Do they allow third party deposit (from highly reputable crypto platforms, CB, ...) or only from bank account under your name ?
Do they onboard client which wealth derive from crypto trading ?
2)If you open an account at Saxo within the EU, can you then move outside of EU without having to closed your account and opening a new one with the new residence ?(is it the same entity serving inside and outside EU ?)
thanks

 

I would ask same about Tinkoff bank, and transfer to/from ADV (which does not allow third-party payments), but with Tinkoff how to make third-party payments to non-rus IBAN etc.

after initial setup and verification 'paperless' means that you will not get mail unless you order new credit card and even then you can receive emergency card replacement to your airbnb, but proof of residence required for opening account  Last edited: Sep 28, 2022

 

Best Long term solution will be

Crypto Broker -> EMI -> Normal Bank -> Saxo bank
Or
Crypto-> p2p Paypal -> Normal bank -> Saxo bank

 

Saxobank is controlled in Denmark, as such you will have strict restrictions to even apply for an account. I would stay away.

 

azb1 said:Best Long term solution will be

Crypto Broker -> EMI -> Normal Bank -> Saxo bank
Or
Crypto-> p2p Paypal -> Normal bank -> Saxo bankClick to expand...Still would need to apply for an account, is crypto wealth, with clear origins and paid tax, fine to open one ? Or they refuse client with only crypto origin wealth
MiltonStone said:Saxobank is controlled in Denmark, as such you will have strict restrictions to even apply for an account. I would stay away.Click to expand...What kind of restrictions ? Is it worst for example than a sq?

 

Bill D said:Still would need to apply for an account, is crypto wealth, with clear origins and paid tax, fine to open one ? Or they refuse client with only crypto origin wealthClick to expand...They onboard your Crypto Wealth however once onboarded you are limited to the Crypto Certificates they offer - no real Crypto.

Bill D said:What kind of restrictions ? Is it worst for example than a sq?Click to expand...Saxo Bank goes more into the direction of some kind of Revolut, Wise etc. so it's more a Broker then a Bank while Swissquote is more a Bank then a Broker with Multi Currency Debit Card, Company and Foundation Accounts etc.

And of course Swissquote who is partnered with Bitstamp is using Bitstamp as liquidity provider, they just launched recently there own independent Crypto Exchange as welll and they are fine of cpurse with sending and receiving funds from Exchanges as well.

For me personal most important point is that Swissquote is public listed while Saxo Bank isn't.

Saxo Bank especially 1m+$ trading and custody is 50-70% cheaper then Swissquote.

Both are regulated in EU - Saxo (Denmark) and Swissquote (Luxembourg) and both are regulated in Switzerland as well.  Toggle signaturehttps://www.dls-offshore.com/?utm_s...um=Forum+Banner&utm_campaign=728x90+Signature

 

Fred said:They onboard your Crypto Wealth however once onboarded you are limited to the Crypto Certificates they offer - no real Crypto.Click to expand...You could withdraw Eur directly from Cb/kraken to them via sepa? ( without the strange emi/bank route proposed above)
I dont care their crypto trading just want them for stocks/etfs

Fred said:Saxo Bank goes more into the direction of some kind of Revolut, Wise etc. so it's more a Broker then a Bank while Swissquote is more a Bank then a Broker with Multi Currency Debit Card, Company and Foundation Accounts etc.

And of course Swissquote who is partnered with Bitstamp is using Bitstamp as liquidity provider, they just launched recently there own independent Crypto Exchange as welll and they are fine of cpurse with sending and receiving funds from Exchanges as well.

For me personal most important point is that Swissquote is public listed while Saxo Bank isn't.

Saxo Bank especially 1m+$ trading and custody is 50-70% cheaper then Swissquote.

Both are regulated in EU - Saxo (Denmark) and Swissquote (Luxembourg) and both are regulated in Switzerland as well.Click to expand...Saxo has same entity serving Eu and uae? if you move residence between these can keep the same pos/account ?

 

Fred said:Saxo Bank especially 1m+$ trading and custody is 50-70% cheaper then Swissquote.Click to expand...Actually Swissquote has lower custody fees than Saxo bank. The trick is they overcharge UAE-based customers. You open an account with Swissquote CH directly and you will pay a maximum 200 CHF per year for custody. Any Swiss broker's trading fees will always be expensive because of the swiss stamp tax.

 

rowena said:Actually Swissquote has lower custody fees than Saxo bank. The trick is they overcharge UAE-based customers. You open an account with Swissquote CH directly and you will pay a maximum 200 CHF per year for custody. Any Swiss broker's trading fees will always be expensive because of the swiss stamp tax.Click to expand...Exactly and in the turn being onboarded with the DIFC Swissquote Entity it hasn't the Swiss Stamp Duty - possible starting 1m$ - Company / Foundation Account welcome as well.

The real deal in terms of Fees is SQ LU but very limited for the time being what you can trade and do there and no Complex Structurs - not sure if they don't want or can't while SQ CH onboards even Panama Holding Companies - for SQ LU a UAE Holding Company is already not possible claiming it's not really possible under EU Banking License.  Toggle signaturehttps://www.dls-offshore.com/?utm_s...um=Forum+Banner&utm_campaign=728x90+Signature

 

Fred said:Exactly and in the turn being onboarded with the DIFC Swissquote Entity it hasn't the Swiss Stamp Duty - possible starting 1m$ - Company / Foundation Account welcome as well.

The real deal in terms of Fees is SQ LU but very limited for the time being what you can trade and do there and no Complex Structurs - not sure if they don't want or can't while SQ CH onboards even Panama Holding Companies - for SQ LU a UAE Holding Company is already not possible claiming it's not really possible under EU Banking License.Click to expand...And saxo provides you a personnal iban ?do they accept direct euros withdrawal from Coinbase/kraken ?

 

Do Saxo / Swissquote open accounts for UAE FZ companies?

 

JimBeam said:Do Saxo / Swissquote open accounts for UAE FZ companies?Click to expand...No idea but you can consider IBKR too as fees are cheaper.

 

TheCryptoAnt said:No idea but you can consider IBKR too as fees are cheaper.Click to expand...I know about IBKR but wanted to know more about these two and if someone have any experiences.
I do use IBKR personally but do not have an Business account with them.

 

JimBeam said:Do Saxo / Swissquote open accounts for UAE FZ companies?Click to expand...Swissquote does - for Holding Companies.  Toggle signaturehttps://www.dls-offshore.com/?utm_s...um=Forum+Banner&utm_campaign=728x90+Signature

 

Saxo Bank doesn't allow 3rd party topups. They only accept transfers from accounts in your own name.
You get a personal IBAN in the main currency you selected on setup and can request more (Example EUR and USD).
If they board people with crypto wealth, I don't know. But if you have all tax documents in order (like you write), it's worth a try.

 

Is swissquote like a bank with brokerage? I read you get your own IBAN. Can you use it for transfers, paying bills...etc.? If you have residency in UAE, which entity makes more sense for personal account - CH, LU, UAE? I'm leaning towards CH.

 

Have a look at here
class="js-selectToQuoteEnd">  Toggle signatureIf money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.