I was going to use IWeb as they charge a one-off platform fee of £100, whereas most brokers charge a % capped at around £45/year, but they charge £5 per UK trade and a 1.5% FX fee per US trade, which would soon add up especially if DCA'ing.
The example given on this page under “How is the foreign exchange charge worked out?” shows it would cost about £10 to buy $1000 of shares.
https://www.iweb-sharedealing.co.uk/help-and-guidance/existing-customer/international-trading.html#trade
Interactive Brokers might be better but I'm confused by their fees, as they show a tiered and fixed option, with additional third-party fees for both but more of these with the tiered option. The exchange fees are particularly hard to understand but you don't have to pay those with the fixed option. How does one choose that? Is there a monthly fee for it?
https://www.interactivebrokers.co.uk/en/index.php?f=39753&p=stocks
If I bought 1000 US shares for $1000 how much would it cost me in fees in total? I think the base fee would be $3.50 with tiered and $5 with fixed but what would the third-party fees add up to?
Is there another broker where I can buy UK, US and CA shares and UK ETFs in an ISA with lower/simpler fees than IWeb or IBKR?
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