facebookWhich online platform is best for making overseas ETF investment by considering fees, user experience on interface, and customer service together? And why? - Seedly

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Anonymous

03 Mar 2021

General Investing

Which online platform is best for making overseas ETF investment by considering fees, user experience on interface, and customer service together? And why?

Which online platform is best for making overseas ETF investment by considering fees, user experience on interface, and customer service together with the following condition:

  • US ETF with dividend given
  • Total asset value of $50,000
  • Long term investing

Discussion (1)

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Chris

03 Mar 2021

Owner and Writer at Tortoisemoney.com

Most brokers have their pros and cons, so depending on what is more important to you, the best would be different. Here are my picks:

Interactive Brokers:

  1. Low commissions (USD0.35-USD1 min)

  2. Virtually any market exposure you desire

  3. No dividend handling fee

  4. Customer service responds within the day (in my experience)

  5. Well-established broker (50 years of operations)

  6. Easy to use mobile app (desktop interface not as good I guess)

  7. Fast account approval

  8. Spot FX rate

Downsides:

  1. Inactivity fee (waived after portfolio hits USD 100,000)

TD Ameritrade:

  1. Free Commissions

  2. No Dividend Handling Fee

  3. Well-established broker

  4. Nice interface on desktop

  5. Close to spot FX rate

  6. No Inactivity Charge

Downsides:

  1. USD25 withdrawal fee

  2. Super long account approval (mine took about 5 months, fastest I heard was 3)

  3. Sometimes irresponsive customer service

Tiger Brokers:

  1. Low comms (USD1.99 per trade)

  2. No Dividend Handling Fee

  3. No Withdrawal Fee

  4. No Inactivity Charge

  5. Super fast account approval

Downsides:

  1. Relatively new broker

  2. Transfer of positions (i.e. if you switch brokers and want to move your positions) is pricey at USD100 per counter

  3. FX spread is not as competitive as the other 2 but it's honestly still pretty decent.

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