Swissquote, Switzerland’s leading provider of online financial and trading services has acquired Internaxx to gain access to European markets and to further consolidate its standing as the first choice for international investors and expats.

Swissquote is Switzerland’s leading provider of online financial and trading services. Listed on the SIX Swiss Exchange (symbol: SQN) since May 29, 2000, the Swissquote Group has its headquarters in Gland, near Geneva, and offices in Zürich, Bern, Dubai, Malta, Hong Kong, Singapore and London. The Group currently employs 722 staff. Click here to find out more about Swissquote.

Internaxx Bank retains its full bank status and licence in Luxembourg. As such, we remain a member of the Luxembourg Deposit Guarantee Fund (FGDL). The FGDL protects all investors by guaranteeing deposits up to the amount of EUR 100'000 per person. Your securities assets are not held directly with the Bank but in Nominee with Central Securities Depositaries (CSDs) and other investment grade custodians. These assets are segregated from the assets of the Bank and permanently identifiable as yours as the beneficial owner.

Operating in one of Europe’s major financial centres, Luxembourg is currently host to over 130 Banks and is the 2nd largest Mutual Fund centre in the world after the US, administrating 4 trillion euros in assets. The Grand Duchy of Luxembourg is renowned for its stable and well-regulated economy, is one of only 3 AAA credit rated countries in the Eurozone and has strong investor protection laws.

We will continue to provide a range of active investing and financial services for global citizens, including our multicurrency deposit account, international stock and ETFs trading on 19 international exchanges, a wide array of investment funds, the ability to trade across web and mobile applications, and access to our multi-lingual customer support team in Luxembourg.

A new web platform and mobile app will be available for your use on 1^st June 2020.

In preparation for this exciting move, we have sent you instructions on how to register on our new eTrading platform, ahead of your account’s migration.

• We recommend that you register no later than Friday 29th May, as after this date you may need to call us to register. By completing this process you will also be able to take a look around the platform, ahead of your account’s migration.
   
• Your account’s assets – cash and securities – will automatically be migrated over the 30-31st May weekend. This step will require no action on your part.
   
• On Monday 1^st June, you will be able to trade and invest as usual, on the new platform.

We have published a series of video tutorials to guide you through the functionalities of the new eTrading platform. Take me there.

In June 2020, you will gain access to some new markets and currencies. Swissquote has the resources, scale and platforms to accelerate our ambition to provide you with the broadest range of market-leading products and services. We will listen to your needs and continue to develop and offer products and services that help you create a safe home for your wealth.

You will continue to have access to EUR, USD, GBP, CAD, CHF, SEK, SGD, HKD and AUD.

Additionally, you will also have access to AED, ZAR, JPY, TWD, ILS, RUB, TRY, DKK, NOK, CZK, HUF, PLN, and MXN. These will be available in June 2020 with the introduction of our new platforms.

You will continue to have access to the main stock exchanges of the following countries: USA, Canada, UK, France, Netherlands, Belgium, Germany, Switzerland, Spain, Italy, Sweden, Australia, Hong Kong and Singapore.

Additionally, you will also have access to the stock exchanges of Austria, Denmark, Finland and Norway. Please note that the Irish Stock Exchange will no longer be available. These changes will be available in June 2020 with the introduction of our new platforms.

Smart Portfolios will continue to be available. We are making enhancements to the Smart Portfolio user interface so you can more easily monitor how your account is performing. This will be available in June 2020 with our new platforms.

Yes, your Derivatives trading account continues to be available on a separate platform at https://derivatives.internaxx.com

Yes. Our multi-lingual, international team in Luxembourg will still be ready to take your call, and all Internaxx accounts remain subject to Luxembourg’s strict banking and privacy laws. We are regulated by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg under the oversight of the European Central Bank.

The Luxembourg financial centre numbers over 130 Banks and is the 2nd largest Mutual Fund centre in the world after the US. Renowned for its stable and well-regulated economy, Luxembourg is one of only 3 AAA credit rated countries in the Eurozone and has strong investor protection laws. We remain a member of the Luxembourg Deposit Guarantee Fund (FGDL). The FGDL protects all investors by guaranteeing deposits up to the amount of EUR 100'000 per person.

No, as your account will remain a Luxembourg-based account, it will not be subject to the Swiss transaction tax.

Your payment details will change from 1^st June 2020.

Your 9 current IBANs will be replaced by one new unique IBAN. This new IBAN will enable you to fund your account in any currency available on the new Swissquote platform. Our supported currencies will be EUR, USD, GBP, CAD, AUD, CHF, SEK, HKD, SGD as well as AED, CZK, DKK, HUF, ILS, JPY, MXN, NOK, PLN and ZAR.

You can already take note of your new IBAN by logging onto your new Swissquote Account under My Account / Payments and Transfers. Please do not use your new IBAN before 1^st June 2020.

Please also note that as we change our name from Internaxx to Swissquote Bank Europe, our BIC will change from TDWLLULL to SWQBLULL. You may need to use this new BIC code, especially when you are using a banking institution outside of Europe.

We have taken all necessary actions to avoid disruptions to payment services during our transition from Internaxx to Swissquote Bank Europe.

For cash transfers out, you will continue to be able to send your instructions online. However, for payments to Australia and Canada, we advise that you provide in the communication field your BSB (for Australia), or institution number and transit code (for Canada).

If you use your Credit Lombard, Margin Trading or overdraft facilities, please note that we will use the monthly average of one-month market indices instead of central bank base rates as our reference rates going forward - thus ensuring you will continue to enjoy competitive market rates for your financing needs.

We would also like to inform you that as of 1^st June 2020, we will implement a number of changes to the margin rates currently in force. Consequently, this might impact your future buying power (available margin) and the proportion of collateral you need to maintain on your Swissquote account going forward. The Bank will monitor and anticipate any account with a critical impact resulting from these change.

However, we would like to remind you that in volatile market conditions, it is important that you maintain sufficient margin in your account, or we may have to sell some or all of your positions without your approval and/or you may be liable for additional margin if your account falls below our margin requirements.

We invite you to read our updated Investment and Risk warning notice.

As an added benefit, you will be able to review your Lombard Loan limits online at any time, and if your account is sufficient diversified, you will also been granted further margin via the Lombard bonus.

We’re introducing a new rate card which will feature lower pricing of 0.10% for stocks and ETF commissions, on all stock markets including continental Europe and Asia-Pacific.

Please refer to our new rate card for more details.

If you use your Credit Lombard, Margin Trading or overdraft facilities, please note that we will use the monthly average of one-month market indices instead of central bank base rates as our reference rates going forward - thus ensuring you will continue to enjoy competitive market rates for your financing needs.

Based on reference rate as at 1 June 2020 and subject to change.

Benchmark rate = monthly average of one-month market indices: Euribor 1 Month ACT/360 (EUR), ICE LIBOR USD 1 Month (USD), ICE LIBOR GBP 1 Month (GBP), Canada Bankers Acceptances 1 Month (CAD), ICE LIBOR CHF 1 Month (CHF), Stockholm Interbank Offered Rates 1 Month (SEK), Association of Banks in Singapore Swap Offer Rate Fixing 1 Month (SGD), HK Assoc of Banks Hong Kong Dollar HIBOR Fixings 1 Month at 11:00am (HKD), AUD 1 Month Deposit (AUD). Debit interest will be charged quarterly in arrears.

Account maintenance will be free as long as you trade at least once per month. A monthly fee of EUR 15 will apply otherwise. This will replace the current quarterly account maintenance fee from June 1^st, 2020. Please note the fee for Q2 2020 will be charged in late May.

An account management fee will apply to accounts inactive (no trades or transfers in/out) for 24 months or more. Please refer to our new rate card for more details.

Yes, we’re introducing new trade bundles that are designed especially for more active traders. Trade bundles offer the flexibility to trade at preferred rates throughout the year, and do not require you to qualify based on your previous activity. Please refer to our new rate card for more details.

Pricing for mutual funds will change from a quarterly administration fee of 0.1% per quarter to a transaction-based commission. You will be charged a final pro-rated administration fee late-May. Please refer to our new rate card for more details.

Pricing will remain the same, however your Smart Portfolio account administration fee will be charged quarterly instead of annually. Please refer to our new rate card.