Securities trading: custody account, brokerage fees and security transfer charges
Anyone making a financial investment in securities (for example in shares) requires a bank custody account for trading. Your securities are deposited in this custody account in a similar way to the money in your private account. Annual charges are generally made for custody account management.
If you buy and sell securities, you pay a brokerage fee. Your bank charges this fee for processing the purchase and sale of securities. The brokerage fee charged depends on the size of the order and the stock exchange you are trading on.
If you wish to transfer your securities custody account from one bank or platform to another, security transfer costs are incurred.
The charges for custody account management, brokerage fees and security transfers differ from provider to provider – enquire about them. Information is usually available online.