Anonymous

05 Aug 2020

∙

General Investing

How much is the cost fees to buy IWDA on ibkr?

New to ib and didn't realise that the default was set to fixed until I bought IWDA and realised I was charged USD5 in comms. Changed to tiered afterwards. But I realised on its pricing website, it does not show comms fee for LSE-etfs denominated in USD under tiered. Anyone can enlighten how much comms will be if I invest S$1000 into IWDA monthly under tiered? Or is it cheaper to just go with fixed since I'm also investing in us etfs and stocks? (Read somewhere that tiered will always be cheaper)

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Nicholas Beh

05 Aug 2020

Student Ambassador 2020/21 at Seedly

IBKR does publish the commission rates on their website - it is under USD-denominated products in the Europe section. Tiered is better for most people. You will incur the following fees:

Currency conversion: 0.002%, min 2 USD
Commission: 0.05%, min 1.70 USD, max 39.00 USD
Exchange fee: 0.0045%, min 0.10 GBP
Clearing fee: 0.06 GBP

For your case, you will incur 3.70 USD + 0.16 GBP in fees, which certainly is cheaper than the 5 USD fixed commission.

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