Author Topic: Using Interactive Brokers As a Danish Resident  (Read 1038 times)

herp

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Using Interactive Brokers As a Danish Resident
« on: February 02, 2018, 03:54:26 AM »
Hello everyone!

I have recently decided to open an application at Interactive Brokers. So far the process seems to be slow and the few times I've needed customer service they've been cumbersome and not very informative, but that was my expection going in.

As I will be performing at most a few trades a month, the inactivity fee had me on the fence, but I decided that it was still worth it (I'm a penny pincher). In the long run, I expect to have enough assets at them for the fee to be waived.

However, it seems that banks in Denmark charge silly fees for making international wire transfers. I can't get quotes lower than 50 DKK (~6-7 EUR), which is a bit of a bummer with frequent deposits.

Any way to work around this issue? They have a branch under SEB in Copenhagen, but every bank I've tried has been unable to perform a domestic transfer to this branch.

herp

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Re: Using Interactive Brokers As a Danish Resident
« Reply #1 on: February 02, 2018, 06:26:19 AM »
Thanks for the suggestion, but I actually don't need currency conversion as my base currency at Interactive Brokers will be DKK.

It's also my understanding that TransferWise doesn't support transactions where the name of the sender is required to be present.

https://transferwise.com/help/article/2200390/creating-a-transfer/incompatible-accounts-and-currencies

Hirondelle

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Re: Using Interactive Brokers As a Danish Resident
« Reply #2 on: February 02, 2018, 06:32:13 AM »
Ah okay, in that case nevermind my reply! Didn't realize you didn't need the conversion and I wasn't aware brokerage accounts aren't supported.

Good luck searching for an alternative!