What's the best and most cost-efficient way to invest in Ireland domiciled US ETFs? - Seedly
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Anonymous

Asked on 10 Feb 2020

What's the best and most cost-efficient way to invest in Ireland domiciled US ETFs?

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?

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Andy Sim
Andy Sim, HR Professional at a Financial Institution
Level 7. Grand Master
Answered on 26 Feb 2020

Interactive Brokers or Saxo!

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Rais M
Rais M
Level 7. Grand Master
Answered on 26 Feb 2020

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.

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👍 0
MT2020
MT2020
Level 7. Grand Master
Answered on 26 Feb 2020

Interactive broker as the commission is very cheap.

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Geraldo L.
Geraldo L.
Level 7. Grand Master
Answered on 26 Feb 2020

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.

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Question Poster

26 Feb 2020

Thanks !
Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Jul)

Level 9. God of Wisdom
Answered on 11 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.

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Interactive Broker is recommended to invest in Ireland domiciled ETF because it offers the cheapest commission.

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