cwah
Member of DD Central
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Post by cwah on Mar 31, 2019 23:47:23 GMT
Interactive broker doesn't have all the fund / stock I need. I wanted PFFL and it's not available  I contacted them but no answer yet. Any other provider? |
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bigfoot12
Member of DD Central
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Post by bigfoot12 on Apr 3, 2019 11:39:47 GMT
Interactive broker doesn't have all the fund / stock I need. I wanted PFFL and it's not available I contacted them but no answer yet. Any other provider? I understand that many US funds/ETFs don't produce a Key Investor Information Document (KIID) and so aren't allowed to be sold to retail investors in Europe. You will probably need to be sophisticated or HNW, at least, to buy those (without a KIID).
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theta
Posts: 46
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Post by theta on Apr 23, 2019 8:54:35 GMT
Interactive Brokers is hands down the best. - $2 flat fee per FX conversion which is always at mid market rate - extremely low trading fees (usually $1 per trade or less) - no holding costs except $10 per month inactivity fee, with all commissions credited against it, so if you spend $7 in commissions in a month, you pay an additional $3 in inactivity fee. Inactivity fee is waived entirely if your account is over $100k. You can hold UK stocks as well in the account, and cash in all currencies, so you can hold a lot of assets together there with a total value of >$100k in order to avoid the inactivity fee. Thanks for this Can you tell me the IB trading costs for USA shares - there seems to be costs listed under North America but also under UK a charge for USD-denominated stocks? The fees you listed of 1 USD seem to be using the North America costs which are less brokerchooser.com/compare-brokerageAlso, is there anyway around the inactivity fee? I dont think myself and my spouse would both be over the 100,000 USD limits individually, but maybe as a joint account or collectively under their Family Office Account Structure Sorry for the late response, I just noticed it. Regarding the US stocks, commissions are very low (less than $1 in most cases), but it's true that since last year US ETFs are restricted to European investors unless they have "professional" status. This is a self certified status but the requirements are quite high. Non "professional" clients can still have full access to all US stocks (not ETFs) though. [And also, oddly enough, non professional clients can trade options on ETFs, which means they can have synthetic exposure (buy a call option and sell a put option of the same strike and maturity) to the same ETF they are not otherwise allowed to trade!] There are also USD denominated ETFs (usually domiciled in Ireland, so they are effectively the same as the GBP/EUR equivalents (in many, if not most, cases it can be the exact same ETF with different classes of stock for the different currencies and exchange listings). These London listed USD denominated ETFs have higher trading costs than the US listed ETFs. Regarding the inactivity fee, I think it applies per account, not per group, so you wouldn't be able to avoid it if you had two separate linked accounts, but I think you would avoid it if you have just one joint account (in both names), or just one account in one name of course.
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