Earlier this month, InvestorsOffshore.com reported that Credit Suisse's online broker Youtrade had introduced "Youtrade on Palm", aimed at boosting the speed of stock trading in Switzerland via Personal Digital Assistants or PDAs. Now Youtrade has enhanced the attraction of online securities trading by modifying its fees and introducing new tariffs.
The new fees have been effective since mid-January. The new rate for securities transactions of up to SFr3000 is SFr25. Previously the lowest rate band covered transactions of up to SFR8000 (SFR40). There is a SFr20 supplement for telephone orders.
Some European investors will still be subject to additional fees, for example in Germany and Switzerland federal turnover tax and stock exchange charges apply. Real time price data and account management are both free of charge.
Youtrade was launched in April 1999 and became the first bank in Switzerland to offer direct securities trading over the Internet or telephone. In October 2000 securities trading via WAP was launched, which was closely followed by the aforementioned PDA development. Youtrade currently has over 25,000 customers.
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