General Category > Shares
Offshore broke4s
Govprof:
Hi all
New to the site. Been reading a lot and really enjoying it.
With regard to offshore brokers - I just completed my first trade with De Giro. They are a Dutch online brokerage with ridiculously low prices. In fact for a whole slew of etf's they don't charge anything. When registering I used the UK platform and my SARS tax number for the NI number as instructed by the support team.
I now think the cheapest path to offshore investment is via exchange4free as recommended by Partick, into your international bank account (UK?) and then invest with De Giro.
Thoughts?
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Patrick:
I haven't looked at De Giro, but I'll take a quick look. When I compared I found interactive brokers to be the cheapest.
Do you have a UK bank account? I'm looking for a cost effective offshore account option for someone in my family who doesn't have the ability to travel and open one.
Govprof:
I started looking at interactive brokers after reading your post. Also looked at Saxo but in the end it looked like De Giro was really a whole lot cheaper (free etf trading) and a lot less shlep setting up.
I do have a UK bank account, opened it with Investec. You need £1000 to open the account but you don't need to maintain that level. Costs £10 per month.
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Patrick:
Thanks, I'll look into the investec option. For DeGiro, I'm trying to get my head around all the costs. The commission free ETFs sound great, my favourite, VWRD is there too, just listed on a euro exchange in euros rather than $. What I can't find is if there are any monthly fees for the account, or any custody fees if you're holding those ETFs.
Govprof:
VWRD is available in pound, it's just not listed that well. If you search using the IE number you will find it. But only the Euro denominated fund falls under their free trading offer.
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