First time buying ETF on London stock exchange

I am planning to buy ETF on LSX for the first time through DBS vicker (cash upfront). Seem like I need to pay $2 per stock every month as custodian fee.

https://www.dbs.com.sg/vickers/en/resources/faq...

My question is for every stocks unless we bought on SGX, we need to pay custodian fee every month for every counter? Is my understanding correct?

It gonna eat out a lot.

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Discussion (2)

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Chris

07 Jun 2021

Owner and Writer at Tortoisemoney.com

Yup, correct. This is also why DBS Vickers is not recommended for overseas stock purchases.

A better option (if you want a bank based option) is Standard Chartered (0.2% min USD10, no custody fees).

If you have a larger capital to start with or trade often, Interactive Brokers might be more suitable for you. Interactive Brokers charges much lower comms (can be as low as USD 0.35). They also boast spot exchange rates (flat fee conversion) and access to almost any market you require. However, the downside would be the inactivity fee which is charged monthly (USD10/month for those above 25 years old and USD3/month for those 25 or under). Commissions incurred are deducted from the inactivity charge and the entire charge is waived when your account is larger than 100k USD.