# Best online broker



## irishguy (8 Feb 2020)

I'm looking for a recommendation for a good (stable) online broker for buying ETFs on a monthly basis, ideally one that doesn't charge for ETF investments and even better if it supports TransferWise/revolut transfers. Something that's easy to manage and cheap 

I'm not counting degiro or other discount brokers, which have a somewhat dubious reputation, as I'm looking to build up a large enough fund and want to be able to sleep an night.


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## NewEdition (8 Feb 2020)

Whats dubious about degiro?


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## Zebedee (8 Feb 2020)

I use IG and Interactive investor. No problems with either. I don’t know what their plans are re brexit. IG shifted spreadbetting to German subsidiary.


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## Techhead (9 Feb 2020)

20k guarantee on DEGIRO accounts. Anything over is lost if a bailout is needed. I’ve used them for along time but would be wary about going long term. I’m actually interested to know if anyone has a better low cost reliable alternative to use over the long term ? (Custodian account).  Etf sound great until you look Into their liablilty in Ireland for tax. Aren’t they liable to that 8yr rollup for Cgt?


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## jpd (10 Feb 2020)

Normally your assets (shares, bonds, ETfs, etc) are held in a custodian account and not by Degiro itself. So, in theory, if they went bust, your assets are safe. The 20k is to protect you from errors made by them in executing trades, etc

There is no "8yr rollup for CGT" - there is an Exit tax of 41% on income, gains on disposal and gains on deemed disposals every 8 years on ETF/funds. Degiro are not liable for that, you are - only funds held by Irish based investment/insurance companies do the calculation and payment for you, in all other cases you have to do the work yourself and submit a return to Revenue


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## galway_blow_in (10 Feb 2020)

Saxo


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## irishguy (10 Feb 2020)

They lend your shares out for other people to short. There has been a few threads about them, so I'd prefer not to hold large positions with them if I don't need to, as a number or other brokers offer free etc trading.


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## llgon (10 Feb 2020)

irishguy said:


> a number or other brokers offer free etc trading.



It would be nice if you shared your knowledge of who these brokers are so we can all benefit.


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## NewEdition (11 Feb 2020)

llgon said:


> It would be nice if you shared your knowledge of who these brokers are so we can all benefit.


They would be the dubious ones in my opinion!


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## Barney Magoo (11 Feb 2020)

irishguy said:


> They lend your shares out for other people to short.



This is not an unusual practice.


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## irishguy (11 Feb 2020)

Firsttrade.com - support Irish accounts
ETrade.com - not sure if they support Irish accounts
Varguard - don't support Irish residents
All the above support a number of ETF's free to buy. If only vanguard supported Ireland, not sure why they don't as they support a number of EU countries

Tax treatment of ETF's is a bit of a pain to manage in Ireland.


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## banchang (11 Feb 2020)

In what respect are these more secure than DeGiro ?


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## banchang (14 Feb 2020)

Thanks - I meant generally, in relation to all those brokers listed - can I put money into Degiro (more than the Eur20k I read is the basic guarantee amount) & be confident ?


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## LoveTrees (14 Feb 2020)

I use DeGiro, ig, interactive investor and interactive brokers. Soon I will look for a 5th broker in order to diversify


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## banchang (19 Feb 2020)

DeGiro is the cheapest - which is next cheapest execution-only broker in your experience ?


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## LoveTrees (21 Feb 2020)

banchang said:


> DeGiro is the cheapest - which is next cheapest execution-only broker in your experience ?


To my experience - which is not huge because I invest from time to time and then I leave my money there without checking until form 11 needs sending or cgt needs to be paid once a year to save 1270 eur per year - interactive brokers never charged me fees more than 1 digits so I would say that's the next cheapest to my view so far


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## Techhead (25 Feb 2020)

Can you actually still buy ETF and be Ireland based?

I understand they are subject to 8 year rollup and 41% exit tax


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## Steven Barrett (25 Feb 2020)

Techhead said:


> Can you actually still buy ETF and be Ireland based?
> 
> I understand they are subject to 8 year rollup and 41% exit tax



You cab buy ETFs but they have to be European domiciled to comply with the PRIPPS legislation and so are subject to deemed disposal at 8 years and 41% exit tax. 


Steven
www.bluewaterfp.ie


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## Techhead (25 Feb 2020)

Thanks Steven


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## banchang (28 Feb 2020)

Don't IB charge USD10/month for their IBKR Pro plan ? 

The IBKR Lite plan, which has zero monthly charge, is not available to non-US residents ?


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## LoveTrees (12 Mar 2020)

banchang said:


> Don't IB charge USD10/month for their IBKR Pro plan ?
> 
> The IBKR Lite plan, which has zero monthly charge, is not available to non-US residents ?


I am on pro with IB UK... Not sure why I dont see the 10 Eur charge yet... But please dont tell them... I am just a small defensive long term investor...


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## Fella (27 Mar 2020)

Had this mail from Degiro 

_We noticed that you have a substantial amount invested in one of the Money Market Funds. This is because unused money on your account is automatically invested into a Money Market Fund (MMF) via a standing order. Amounts in MMF holdings are not (fully) compensated for negative returns. The return for most of these MMF’s is negative at the moment.
This situation is most likely not ideal for you, and neither for DEGIRO. Your investments in  MMF’s are costing you money through negative returns. Next to this DEGIRO is bound by certain regulations with regards to these MMF’s.
To resolve this, amounts above €5500 that are invested in the Morgan Stanley EUR MMF will soon be returned to your bank account. In case you are invested in the FundShare EUR MMF, amounts above €1500 will be returned. This return will be one-off, but we may do this again in the near future if we are required to. Of course, if you wish to prevent this return, you can invest your money in other products of your choice._

This is not great so you can't keep money in degiro while waiting for an oppurtunity


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## EmmDee (27 Mar 2020)

Fella said:


> Had this mail from Degiro
> 
> _We noticed that you have a substantial amount invested in one of the Money Market Funds. This is because unused money on your account is automatically invested into a Money Market Fund (MMF) via a standing order. Amounts in MMF holdings are not (fully) compensated for negative returns. The return for most of these MMF’s is negative at the moment.
> This situation is most likely not ideal for you, and neither for DEGIRO. Your investments in  MMF’s are costing you money through negative returns. Next to this DEGIRO is bound by certain regulations with regards to these MMF’s.
> ...



Discussed here -





						Can anyone make sense of this message from Degiro?
					

Got this email:        Our system detected that the amount of your EUR Money Market Funds (MMF) participations has exceeded our compensation limit over the last days.  We remind you that at DEGIRO all non-used money is automatically invested in MMF’s via a standing order. Negative returns, due...



					www.askaboutmoney.com
				




The money you keep with them, costs them - so they are minimising it


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## PWR (27 Apr 2020)

Newbie enquiry here - my Degiro application is stalled. What is the next best online platform that you would recommend?  I'm going to be looking at some mainstream shares and also some UK AIM shares. Thanks for any advice!


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