Choosing a brokerage account

What we assess

Total cost of ownership

Commission is one line. Platform or custody fees, fund management charges, currency conversion spreads, inactivity fees and withdrawal charges often add up to more. Work out the annual cost on your actual balance and trading pattern, not on a sample trade.

What you can actually buy

Check the specific funds, ETFs, shares and markets you intend to hold are available, including fractional shares if you invest fixed monthly amounts. A cheap platform that cannot hold what you want is not cheap.

Account types and tax wrappers

The tax-advantaged accounts available in your country usually matter more than any fee difference. Confirm the platform supports the wrappers you need before comparing anything else.

Protection and regulation

Check the regulator, the investor compensation scheme and its limit, and whether client assets are held separately from the firm's own. This is the part nobody thinks about until it matters.

Currency conversion

For anyone buying overseas assets, the FX spread is frequently the single largest recurring cost. A 0.5% spread on every purchase dwarfs a small commission difference.

Transferring out

Check the exit cost and whether holdings transfer in kind or must be sold. A platform that is expensive to leave has quiet pricing power over you.

Common mistakes

• Judging a platform on a promotional rate or sign-up bonus that lasts three months.
• Ignoring currency conversion costs when most of the portfolio will be overseas.
• Choosing on app design alone, then discovering the tax wrapper you need is unsupported.
• Assuming 'zero commission' means zero cost - payment for order flow and FX spreads are still costs.

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