ETFs in Ireland?

TheBig40 said:
Currency fluctuations between € and $ is my main one, it’s just another unknown element. Could easily see the difference between 41% and 33% disappear. For me it’s the deemed disposal at 8 years that’s the concern. I’d really rather just pay the tax when I sell them regardless of 41 or 33 %
Click to expand...


Unless you are only going to invest in ETFs that invest in companies listed on the European stock exchanges, you are going to win and lost with currency fluctuations. And even then, a lot of those companies will trade outside the eurozone so their profits will fluctuate too based on exchange rates. The MSCI has 60% US stocks, so even if you buy a euro denominated fund, they will still be buying a lot of US companies in dollars.

Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
 
audioflaps said:
They're available to purchase yes. Again though, none of this is financial advice
Click to expand...
Thanks though I wasn't clear in my question
Is it currently possible to purchase a US domiciled ETF on First Trade, if you're registered as an Irish user?
I dont mean 'are the ETFs listed' but rather have you done it recently (eg they are listed on etrade, I just can't execute a purchase)
Thanks!
 
Don’t forget the broker etoro....I did a bit of research into them also.....

eToro for US ETFs and no stamp duty Irish shares

I Just downloaded the eToro app and I have my application pending. I remember someone on here saying that this platform can be used to purchase US ETFs. I checked in the trade section on the app for availability on a few very common ETFs such as; VOO SPY XLF QQQ They are all available. How is it...
www.askaboutmoney.com
 
landlord said:
Don’t forget the broker etoro....I did a bit of research into them also.....

eToro for US ETFs and no stamp duty Irish shares

I Just downloaded the eToro app and I have my application pending. I remember someone on here saying that this platform can be used to purchase US ETFs. I checked in the trade section on the app for availability on a few very common ETFs such as; VOO SPY XLF QQQ They are all available. How is it...
www.askaboutmoney.com
Click to expand...
As an EU resident, my understanding is that when you buy a US ETF on eToro, you're not actually buying the ETF, but a Contract for Difference (CFD).

I'd suggest to do a bit more research into what you're actually buying, especially for long term holdings.

"The eToro trading platform is not an exchange or a market. This means that you can only buy and sell stocks within the eToro trading platform. It is not possible to move open positions out of your eToro account to another broker or to another person. If you open a stock position on eToro, you are not issued a stock issuance certificate or allocated voting rights. Nonetheless, should the company issue dividends, your balance will be updated in accordance with your holdings"
 
audioflaps said:
Opened a First Trade account three weeks ago with no issues
Click to expand...
If it’s not too massive a personal question how are you getting funds into your First Trade account, I have one but they don’t seem to allow me to send $$ using CurrencyFair, transferwise revolut, PayPal or any of the other ways I’d normally send cash to the USA.
 
TheBig40 said:
If it’s not too massive a personal question how are you getting funds into your First Trade account, I have one but they don’t seem to allow me to send $$ using CurrencyFair, transferwise revolut, PayPal or any of the other ways I’d normally send cash to the USA.
Click to expand...
Came across this thread and have the same question..
 
TheBig40 said:
If it’s not too massive a personal question how are you getting funds into your First Trade account, I have one but they don’t seem to allow me to send $$ using CurrencyFair, transferwise revolut, PayPal or any of the other ways I’d normally send cash to the USA.
Click to expand...
Simple bank transfer? I just send money in USD via AIB banking
 
flyingfolly said:
Simple bank transfer? I just send money in USD via AIB banking
Click to expand...

Does it work out quite expensive? Had a look there and it seems to be a €15 fee (would have guessed more) but I presume there is also unfavourable forex rates to drive up the cost.
 
k06351000 said:
Does it work out quite expensive? Had a look there and it seems to be a €15 fee (would have guessed more) but I presume there is also unfavourable forex rates to drive up the cost.
Click to expand...
Yep was 15 euros. But if you're transferring thousands, its not that much really
 
flyingfolly said:
Yep was 15 euros. But if you're transferring thousands, its not that much really
Click to expand...

So have finally set up my first trade account and ready to transfer money, just went on to AIB and the cost to transfer 3000 dollars was €2,497 (+€15) but checking xe.com at the interbank rate 3,000 dollars equals 2,448 euro. While I know I will never get this rate it does seem that €64 is too big a fee to make on a 3,000 dollar transfer - would it not eat too much into any potential gains? Or is the point that over a large number of years this amount will not compare to benefit of avoiding deemed disposal?
 
€ 64 is 2% but you will struggle to find something better for that small amount of $
 
jpd said:
€ 64 is 2% but you will struggle to find something better for that small amount of $
Click to expand...

Thanks I suppose 2% isn’t that bad- I could up the amount to 5,000 but I guess that won’t reduce the percentage impact by much as only the 15 is a fixed fee.

I am also looking into setting up an N26 account to transfer for cheaper.

Does anyone know if the exchange fees can be counted as an expense when calculating CGT?
 
No, exchange fees are not included in the cost as such.

But the cost in a foreign currency must be converted to euros for the CGT calculation - the exchange rate to be used is not specified anywhere, so you could incorporate the exchange fee when calculating your rate. I can't imagine Revenue would refuse that if they ever came to audit your CGT returns
 
Has anyone here used tastyworks as a broker to buy US ETF’s.

I think I can transfer money via currency fair which would save me about 40 euro on every $3,000 transfer. I feel like this makes sense if there is no other good reason to avoid tastyworks. I might even make one purchase on first trade and then use tastyworks in the future. As they have no ongoing fees it probably makes sense to invest with a number of brokers just in case,
 
No it doesn't - it just makes it more confusing - the Revenue have added more fog to the position, if that was possible

In this document Offshore Funds: Taxation of Income and Gains from EU, EEA and OECD member states

they say
It is important to note that not every fund in the EU/EEA/OECD that is subject to local regulation (for example by the local Central Bank) will fall within this equivalent definition. It is only funds which are similar in all material respects to the Irish fund vehicles which are included
Click to expand...
 
Last edited:
You must log in or register to reply here.
Back
Top