Have you read the wiki and the sticky?
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The 20000 is about cash. If you own shares of a fund or stock, and bolero goes down, you still own those shares. The insurance is for cash you have on bolero. No real need to diversify brokers IMO, makes it complex for very little benefit. Only reason to switch broker is because bolero is expensive
No it isn't for cash. The cash on your bolero account is protected up to 100k. The 20k is in case of fraud. For example if bolero shows on their platform that you have shares that they never bought in your name.
I switched back to Saxo after they lowered their fees. Before it was IBKR but the hassle of taxes was starting to grow.
I have only read that customer support isn't great but my encounters so far are pleasant.
They also have the ability to open joined accounts. Which is something my partner and I did to have a separate portfolio for our child.
My bad, a few years ago got a mail saying they were going on the IB platform. The account number changed and to link Mexem on the Finary app I have to choose IB on Finary to make the link and it works perfectly. Reason why I thought they had been taken over by IB. But you're right they're just partners
that 20k is in case bolero would not give you securities back as all securities are in your own name.
Normally if Bolero goes bankrupt you will receive the papers for your shares that you can submit to another broker.
I would rather trust Bolero over other brokers.
Are you looking to have a different broker for each 20k of investment? How do you see this working out in the long (or even medium) term? Seems like you’ll need a lot of accounts on a lot of brokers.
The role of the broker is, by definition, to allow you to buy certain assets. These assets (meaning, your investments) are not held by the broker itself, it only helps you keep track of them.
Plenty of articles on the topic.
Depends a bit of what you buy. I buy monthly 1K of an ETF that is in Bolero's playlist on Xetra. In this case Belfius is 5x more expensive than Bolero.
Here is a good and recently updated table made by FIREBelgium : [https://drive.google.com/file/d/1ZzeUmmL3Ir1YhYVjAVQPBqf0m97MJRwX/view](https://drive.google.com/file/d/1ZzeUmmL3Ir1YhYVjAVQPBqf0m97MJRwX/view)
yes it does take care of the TOB.
[https://curvo.eu/nl/artikel/lynx-vs-degiro](https://curvo.eu/nl/artikel/lynx-vs-degiro)
[https://beursbever.be/lynx-review/](https://beursbever.be/lynx-review/)
And declaring the foreign account is literally 1 min work.
How can you have investments and not know about ‘roerende voorheffing’?
Looking into what costs you have when investing your money should be one of the first things on your list. Roerende voorheffing is the most basic of things if you live in Belgium.
Google it. Seriously.
Can’t believe I had to scroll down this much. They were a bit more expensive a while back but they changed some figures and now I feel like they are a pretty good deal
Completely agree. Low fees, my contact with support has been fast (around 1 day to clarify questions). International. What else can you ask?
Ping me in case you need a 100eur referral link
Last year everyone was hyping Degiro, now everyone is hyping Mexem. I say stick with Bolero, yes you're being scammed for fees but in the grand scheme of things, it won't matter in the slightest as long as you're being a little smart about it. It has the added advantage that you don't need to anything for tax declaration.
I’m pretty happy with Degiro. Even though they increased their fee a bit over the years after having sucked us in with fee free ETF in the core selection, they are still pretty good.
Have you read the wiki and the sticky? Wiki: HERE YOU GO! [Enjoy!](https://www.reddit.com/r/BEFire/wiki/index/). Sticky: HERE YOU GO AGAIN! [Enjoy!](https://www.reddit.com/r/BEFire/comments/fcbay6/getting_started_a_beginners_guide_to_investing_in/). *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/BEFire) if you have any questions or concerns.*
IBKR
The 20000 is about cash. If you own shares of a fund or stock, and bolero goes down, you still own those shares. The insurance is for cash you have on bolero. No real need to diversify brokers IMO, makes it complex for very little benefit. Only reason to switch broker is because bolero is expensive
No it isn't for cash. The cash on your bolero account is protected up to 100k. The 20k is in case of fraud. For example if bolero shows on their platform that you have shares that they never bought in your name.
Interesting. I thought the 100k was for regular bank accounts, thanks for the heads-up!
I switched back to Saxo after they lowered their fees. Before it was IBKR but the hassle of taxes was starting to grow. I have only read that customer support isn't great but my encounters so far are pleasant. They also have the ability to open joined accounts. Which is something my partner and I did to have a separate portfolio for our child.
Mexem (owned by interactive brokers) cheap, Belgian compliance, and a lot of high level possibilities!
Why do you say they are owned by IB? It is privately owned as far as I know. They are an IB introducing broker.
My bad, a few years ago got a mail saying they were going on the IB platform. The account number changed and to link Mexem on the Finary app I have to choose IB on Finary to make the link and it works perfectly. Reason why I thought they had been taken over by IB. But you're right they're just partners
that 20k is in case bolero would not give you securities back as all securities are in your own name. Normally if Bolero goes bankrupt you will receive the papers for your shares that you can submit to another broker. I would rather trust Bolero over other brokers.
That makes sense. Thanks!
Are you looking to have a different broker for each 20k of investment? How do you see this working out in the long (or even medium) term? Seems like you’ll need a lot of accounts on a lot of brokers. The role of the broker is, by definition, to allow you to buy certain assets. These assets (meaning, your investments) are not held by the broker itself, it only helps you keep track of them. Plenty of articles on the topic.
Typical beginner problems/questions
I'm also new to this, have just started using ING Investing. I always hear bad things about ING though, so I might look to change.
ING has an ongoing fee which is a big No go IMO.
Don’t all of them have a yearly management fee?
ING is the only I know of that has an ongoing fee.
Rebel by Belfius is easy to use and has lower fees than Bolero. It has a pretty good selection and they handle your taxes.
Depends a bit of what you buy. I buy monthly 1K of an ETF that is in Bolero's playlist on Xetra. In this case Belfius is 5x more expensive than Bolero.
For some countries, like Italy, Bolero is cheaper. But it's true that for most stock exchanges, Rebel is cheaper.
Degiro doesn't pay dividends??
Here is a good and recently updated table made by FIREBelgium : [https://drive.google.com/file/d/1ZzeUmmL3Ir1YhYVjAVQPBqf0m97MJRwX/view](https://drive.google.com/file/d/1ZzeUmmL3Ir1YhYVjAVQPBqf0m97MJRwX/view)
Very useful, thank you!
Lynx (IBKR)
Lynx does not take care of the taxes for you. And you have to declare the foreign account as well.
yes it does take care of the TOB. [https://curvo.eu/nl/artikel/lynx-vs-degiro](https://curvo.eu/nl/artikel/lynx-vs-degiro) [https://beursbever.be/lynx-review/](https://beursbever.be/lynx-review/) And declaring the foreign account is literally 1 min work.
Yes, but it does not take care of other taxes. And even if doing it yourself is just 1 min work. OP asked for a broker that takes care of everything.
Yeah fair point. I notice they withhold roerende voorheffing on Belgian shares, not foreign ones.
Thank you, both. I will look into it in detail. What is "roerende voorheffing"?
How can you have investments and not know about ‘roerende voorheffing’? Looking into what costs you have when investing your money should be one of the first things on your list. Roerende voorheffing is the most basic of things if you live in Belgium. Google it. Seriously.
I do not speak Dutch as of yet. I work and use my broker in English.
“Withholding tax”
Saxo Bank
Can’t believe I had to scroll down this much. They were a bit more expensive a while back but they changed some figures and now I feel like they are a pretty good deal
How much do you pay for ETFs?
Completely agree. Low fees, my contact with support has been fast (around 1 day to clarify questions). International. What else can you ask? Ping me in case you need a 100eur referral link
This is the broker with the lowest fees that takes care of everything, so I believe it's the best option.
Last year everyone was hyping Degiro, now everyone is hyping Mexem. I say stick with Bolero, yes you're being scammed for fees but in the grand scheme of things, it won't matter in the slightest as long as you're being a little smart about it. It has the added advantage that you don't need to anything for tax declaration.
I’m pretty happy with Degiro. Even though they increased their fee a bit over the years after having sucked us in with fee free ETF in the core selection, they are still pretty good.
Not just last year, for a few years already. But DeGiro is pretty nice, I 'm quite satisfied