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Post by Fletchsmile on Jun 25, 2019 15:10:20 GMT 7
-Outside Thailand, places like Singapore have decent options. Based on the amounts mention, you'd be able to get Priority Banking or equivalent with banks like Stan Chart Singapore, with a dedicated Relationship Manager, RM. Singapore fees are higher than say the UK, but well below what you are getting ripped off for. Fo active managed funds: More like 1%-2% entry and annual fees of 1% - 1.5%. Also within a safer regulatory environment under MAS Singapore and could be linked to banking arrangements. You could open a brokerage account with Stan Chart and just buy exchange traded funds linked to indices which would cost around 0.2% brokerage and fees on the ETFs around 0.1% to 0.5% p.a. Just average index performance but the advantage of low fees so most of the returns go to you. - If you can open an account with the likes of Hargreaves Lansdown, AJ Bell etc in UK, fees would be much cheaper and better range of funds, with safer regulation. Likely 0% initial charge 0.1% - 1.5% annual charge depending on funds selected, and say 0.25% p.a. for a platform fee I use all of the above options to varying degrees. Do UK brokers offering a brokerage account to be able to buy USD denominated EFTs such as the ishares EFT which AyG noted above, or do you have to suffer the brokers GBP/USD exchange rate ? I looked at SCB SG online trading account and they don't appear to have this ishare EFT listed in the 300 or so which they offer. A lot of UK brokers don't operate multi currency accounts, so you get hit with the FX rate as you say, on both buy side and sell side. I've done occasionally thru Hargreaves Lansdown. They used to really sting you for it, but fees have improved a bit since, and vary according to deal size. Still 0.25% to 1% though
There are some UK brokers that do offer multicurrency. TD Direct and Barclays spring to mind.
Yes SCB can be limited sometimes in its choice of ETFs. I've found that too. EUR availability can be poorer than USD. I usually end up finding an alternative ETF or fund in some way.
More international brokers like Interactive Brokers would also likely be a decent choice.
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AyG
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Post by AyG on Jun 25, 2019 15:15:37 GMT 7
Do UK brokers offering a brokerage account to be able to buy USD denominated EFTs such as the ishares EFT which AyG noted above, or do you have to suffer the brokers GBP/USD exchange rate ? I looked at SCB SG online trading account and they don't appear to have this ishare EFT listed in the 300 or so which they offer. If you consider the ETF I mentioned, it's available in both USD and GBP forms (as well as EUR and possibly other currencies). They are all traded on the London Stock Exchange (and elsewhere). Any broker with access to the LSE would be able to let you buy either. However, what matters is whether the broker supports multicurrency accounts. If the broker only allows GBP accounts, then you'd be settling a USD purchase in GBP, so would take an FX rate hit. Hope that's clear. If not, feel free to ask for more detail.
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Post by Fletchsmile on Jun 25, 2019 17:33:54 GMT 7
Do UK brokers offering a brokerage account to be able to buy USD denominated EFTs such as the ishares EFT which AyG noted above, or do you have to suffer the brokers GBP/USD exchange rate ? I looked at SCB SG online trading account and they don't appear to have this ishare EFT listed in the 300 or so which they offer. If you consider the ETF I mentioned, it's available in both USD and GBP forms (as well as EUR and possibly other currencies). They are all traded on the London Stock Exchange (and elsewhere). Any broker with access to the LSE would be able to let you buy either. However, what matters is whether the broker supports multicurrency accounts. If the broker only allows GBP accounts, then you'd be settling a USD purchase in GBP, so would take an FX rate hit. Hope that's clear. If not, feel free to ask for more detail. This isn't always the case for StanChart Singapore. SCB occasionally don't provide access to certain shares/funds. I come across it occasionally. Not quite sure why. Over 95% of what I want is there, but occasionally there's an ETF or share on a particular exchange or a particular currency class that they don't offer.
I believe it's this that GavinK is referring to as we both use the same platform.
SCB is a useable functional platform but not exactly state of the art. The biggest benefits with SCB are being able to link it to your other banking arrangements, Priority Banking, preferential rates, get support from your RM, use it as collatereal to borrow etc. The functional specs of the online trading system are crude though. It does provide access to a dozen or so international exchanges for shares, ETFs, ITs, etc but there are occasional gaps in the offerings such as this.
To GavinK
This is one reason I also hold a portfolio of investment trusts thru SCB. The access to investment trusts is more complete than ETFs. So might be worth looking at an investment trust instead of ETF. You then get into active vs passive debates as to which is best though
Which ETF were you looking for BTW?
and which list were you looking at?
I just checked in online trading
MVOL:LSE is there = USD Acc version of iShares World Min Vol
WMVG:LSE is there = GBP Hedged SXR0:SWX is there = EUR hedged, but only on the Swiss exchange for the EUR version, doesn't offer the German exchanges etc
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AyG
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Post by AyG on Jun 25, 2019 18:02:38 GMT 7
MVOL:LSE is there = USD Acc version of iShares World Min Vol Just curious, but what about the GBP (unhedged)version, MINV on the LSE? That said, we probably shouldn't get too sidetracked from the OP's issues.
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Post by Fletchsmile on Jun 25, 2019 18:14:55 GMT 7
MVOL:LSE is there = USD Acc version of iShares World Min Vol Just curious, but what about the GBP (unhedged)version, MINV on the LSE? That said, we probably shouldn't get too sidetracked from the OP's issues.
Yes it's there in the system. Your link only shows the 3 that I showed above as choices, in the "pull down menu near the top" so were the only ones I checked. I didn't scroll to the bottom to see all the other versions
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Post by rgs2001uk on Jun 25, 2019 20:08:04 GMT 7
I would also consider contacting Drummond, he has no problem naming and shaming these muppets. I don't believe he is as enthusiastic as he once was, understandable at his age and the amount of alcohol that he had to consume - for professional reasons off course. He did do an article on my former "IFA" company some years back when they fired someone who was a known "crook" Kudos to you and a tip of the hat in your direction, at least you have retained a sense of humour.
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Post by rgs2001uk on Jun 25, 2019 20:10:52 GMT 7
Thanks for the links, I mistakenly thought that in this day and age no one could be so naive or trusting. I remember years ago names such as Royal Skandia and worthless endowment polices being sold.
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Post by rgs2001uk on Jun 25, 2019 20:13:00 GMT 7
Thanks to ridiculous rules, nowadays no normal broker in the UK will allow non-residents living outside Europe open an account. (I know, I've asked them all.) There is one I know of (can't immediately remember the name, but begins with "P" I think), but it's aimed at high net worth individuals. (It's similarly virtually impossible to find an IFA in the UK prepared to work with people in this category. I know of one, but it works through local agents and doesn't give the same protection as a UK-based adviser.) Do you still have a UK address? Problem with that is, as part of Know Your Customer, Common Reporting Standard and other such American BS, you now have to provide, bank statements, electric bill etc etc as proof, I used to think Thailand was bad, its a walk in the park. Probably get asked for a TIN .
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Post by Fletchsmile on Jun 25, 2019 22:42:14 GMT 7
To AyG and rgs Who do you hold your UK unit trusts thru? I know you both tend to favour investment trusts. Just wondered who you held the unit trusts thru?
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Post by rgs2001uk on Jun 25, 2019 23:16:44 GMT 7
Fletch, my alliance trust it is held with alliance themself, the rest of my its are held by my stockbroker in the uk.
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Post by Fletchsmile on Jun 26, 2019 1:28:53 GMT 7
Fletch, my alliance trust it is held with alliance themself, the rest of my its are held by my stockbroker in the uk. I meant your unit trusts. I remember you saying you had Fundsmith for example which is a unit trust.
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AyG
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Post by AyG on Jun 26, 2019 5:50:41 GMT 7
To AyG and rgs Who do you hold your UK unit trusts thru? I know you both tend to favour investment trusts. Just wondered who you held the unit trusts thru? Interactive Investor.
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Post by rgs2001uk on Jun 26, 2019 11:26:17 GMT 7
Fletch, my alliance trust it is held with alliance themself, the rest of my its are held by my stockbroker in the uk. I meant your unit trusts. I remember you saying you had Fundsmith for example which is a unit trust.
You are correct, what a good memory you have, . I should have been more specific, Fundsmith, my ITs and regular shares are all held by my stockbroker.
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GWC
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Post by GWC on Jun 26, 2019 12:00:12 GMT 7
Thanks for the links, I mistakenly thought that in this day and age no one could be so naive or trusting. I remember years ago names such as Royal Skandia and worthless endowment polices being sold. I shall take that personally, simply because it applies , I have led my life being trusting & somewhat naive, kinda sad that is a bad thing! No more - hard, tough, canny and ruthless investor now I do recall Royal Skandia, helped finance them as well, I never had a "endowment policy" feel like I missed out, are they still available?
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GavinK
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Post by GavinK on Jun 26, 2019 13:01:51 GMT 7
Which ETF were you looking for BTW?
and which list were you looking at?
I just checked in online trading
MVOL:LSE is there = USD Acc version of iShares World Min Vol
WMVG:LSE is there = GBP Hedged SXR0:SWX is there = EUR hedged, but only on the Swiss exchange for the EUR version, doesn't offer the German exchanges etc
Thanks - I see it now - MVOL:LSE. Couldn't find it yesterday - was probably searching under the name...
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