TD Waterhouse Euro Denominated ETF possible ?

darraghdog

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I am setting up a tdwaterhouse.ie account, with plans to purchase ETFs. However I would like to avoid the currency exchange cost (1.75% I believe) of buying a GBP denominated ETF. Has anyone been able to buy EUR denominated ETFs through tdwaterhouse.ie

The account is not activitated yet, so far I have only looked for etf symbols on the front page in the share prices section.

Thanks...
 
I've bought some on Paris/Netherlands and German exchanges but seems very hit and miss whether you can do them all online, have often needed to ring them to complete the trades (they only charge the online commission when this happens though).
 
Yes, you can buy EUR denominated ETFs through TD. It all depends on the base currency of the ETF, lots of iShares ETFs on the UK LSE are Euro-based, e.g. SEUA, IDVY, IUSE &c. If an ETF isn't based in Euro though, you won't be able to use Euro to buy it. Well, you can, but you shouldn't, because, as you say, you'll get hit for the 1.75% currency exchange fee. You can always convert your money into USD, CHF, GBP before transferring it to TD and escape the 1.75% fee. When you log in to your account, go to 'Help' and it will give you account numbers for the various currencies. Hope that helps.
 
While I agree with all Rekhib says, please be aware that there may be hidden charges in transferring foreign currency to your TD account. I have used Currency fare to change euro into sterling, and seem to be able to transfer with no charge. However, when trying the same thing with Canadian Dollars, I was charged a hefty fee ( about $50 for a $1000 transfer) . It would probably have been cheaper to let TD convert the currency.! Just check on these charges before doing any foreign currency transfers.
 
Sorry, I should have added that the fee of approximatly $50 was charged by the accepting bank , and not by TD.
 
Thanks all for the info, this gives me what I need.
I'll activate the account and give it a go.

Rekhib, its good to get examples of some ETFs - thanks again for that. I'm still a bit confused as I checked SEUA and see it's on the london stock exchange as GBX currency... I guess once I log on, I'll see it also as EUR denominated for purchase.

nodo, I'm only using EUR so hopefully will not run into this issue.

for anyone else interested, there is a good excel I found here (can't find the original link anymore) , showing all the ETFs available on the london stock exchange, and I guess all of them are available on tdwaterhouse.ie
 
Logged on I see SEUA as Gbp on LSE as well, probably only the GBP class is listed there. Try EUEA on Euronext Amsterdam, it gives a Euro class.
 
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