Asked on 10 Feb 2020
I am intending to buy US ETFs on London stock exchange. The ETF currency is in USD hence I have to pay USD. Will the commission I pay to my broker be in GBP then? Or pay in USD as well?
It’s expensive to change from SGD and another SGD to GBP just for one transaction. And also, any broker to recommend?
This question is no longer accepting new answers because it has been merged with What is the best way to invest in Ireland-Domiciled S&P 500 ETFs?
Currencies is always an issue and always complicates matters. I understand that you can buy directly via Interact Brokers. However, I wonder if it is a good idea to set up a brand new broker account just to buy Ireland domiciled ETF. The time and effort spent might outweight the lower withholding tax rates.
Interactive Brokers or Standard Chartered Online trading. If the ETF currency is in USD commissions will be paid in USD. You can do a conversion from SGD to USD straight, there's no need to convert twice.
26 Feb 2020
At least german discount broker Consors
should give you access to all IR-domiciled ETFs with acceptable commission fees and no account maintenance fees. I'm sure there are similar competitors. you could google broker comparison sites of different particularly European countries to find something, then check if they allow investors from your country to open an account.
Interactive Broker is recommended to invest in Ireland domiciled ETF because it offers the cheapest commission.
Show More Products