13 Aug 2020
I’m a newbie, I would like to buy Ireland domiciled ETF and hold for long term. Which broker will be the most cost efficient if I have a large sum?
I was reading about saxo and many people say that the fx rate is very high for saxo and there is a custody fee.
SCB is generally cheaper.
But the min age is 21 so if you are under 21, you should use Saxo
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If your investment amt is a large sum (>$100k), pls don't go with saxo for your own good. That will cost you a lot in fees, not just saxo's poor fx rate, but their custody fee as well as dividend handling fees.
Above $100k, just go with IBKR. Since you're holding long term, you'll save a lot on fees, and they might be significant once your investment sum gets even larger.
IBKR provides lse stock market if you want to buy ireland-domiciled etf, as well as provide good analysing reports.
Or if your sum is large, TD is also a good try, since it charges a fixed sum of USD10.65 regardless of whether u invest $1k or $100k.
Do some more research on foreign brokerages and their fees and how their interface works.
Good luck investing!
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