1% is true, for a lot of banks in my country. IB may be an exception, without going into details I had trouble with their kyc.
DeFi is a buzz word. Lets take Uniswap. You get direct access to an exchange. It works 100% of the time. You pay the same fees as everybody else.
Traditional exchanges: try to get the same fees as a HFT shops. Yeah forget it. Even through IB you don't get direct participation on the exchange. So in my perspective the traditional system is kind of rigged in the way how different actors are able to participate. At least at the moment DeFi is fair in this regard. Also you get full access to the assets you are holding without any third party..
DeFi is a buzz word. Lets take Uniswap. You get direct access to an exchange. It works 100% of the time. You pay the same fees as everybody else. Traditional exchanges: try to get the same fees as a HFT shops. Yeah forget it. Even through IB you don't get direct participation on the exchange. So in my perspective the traditional system is kind of rigged in the way how different actors are able to participate. At least at the moment DeFi is fair in this regard. Also you get full access to the assets you are holding without any third party..