FAQ - Stock Trading
How do I trade my own shares?
We're cooperating with the stockbrokers E*Trade and Avanza, where we can open a trading fund for you via your policy. With the stockbroker you or your appointee place orders via phone or online.
Why can't I transfer shares I already own to my trading fund?
You cannot transfer shares you already own to your trading fund at Ancoria Insurance. The reason is that the shares in the fund are not owned by yourself but instead by Ancoria Insurance.
Which shares can I invest in?
Depending on where your trading fund will be opened you can trade stock at the Nordic stock market, Norway and the New York Stock Exchange and Nasdaq. More information is available at respective stockbrokers' home pages.
How soon can I start trading?
We'll mail log in information when we've received the form Request for Ancoria Stock trading (call customer service) and your first deposit of at least 1 000 Euro. Because of the mailing time between Sweden and Cyprus you have to count on that it takes about 7 days from when we've received your payment and request before you'll get the log in information. We can also send the information via fax if you so request in writing.
How do I do to send in more money?
Send money via plusgiro 183 95 63-2 or bankgiro 5318-7472 (Sweden). State your insurance number as your from address as well as your stock broker (e.g. E*Trade, or Avanza)
How do I withdraw money?
You request the withdrawal in writing via fax or letter or via our OnLine services. You then have to make sure there is enough money available in your trading fund to meet the request.
How do I get access to analyses?
E*Trade and Avanza offer several types of extra services. Information and prices you'll find in their respective home pages, www.etrade.se or www.avanza.se
How much does it cost?
Akelius Insurance charges at most 0.125 percent of the average trading fund value per quarter. Trading commissions are paid to the stock broker (e.g. E*Trade or Avanza).
How is my portfolio reported?
We'll send a statement to you in the beginning of the year.
Pros and cons?
You don't pay capital gains tax and you don't deduct losses. Instead you'll pay an annual current value tax on the total value of your insurance as of 1 January every year. Note this depends on the tax laws where you reside. |
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