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Choice of Broker (Belgium)/Access to World Trackers

Financial discussion for any financial queries for Expats
Redman
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Joined: February 1st, 2021, 6:33 am

Choice of Broker (Belgium)/Access to World Trackers

#382965

Postby Redman » February 2nd, 2021, 9:15 am

[I mistakenly originally posted this (edited) in Investment Strategies and was advised to look here in the Expat Sub-Forum.]

I'd like to get my son investing for his pension on a monthly drip feed / world tracker / hold and forget basis. He's working in Belgium and wants to buy in Euros / build his pension pot in Euros. So far so good!

As I understand it, it matters not what you buy with / get paid in since the underlying investments are regional/global/etc; but since he is paid in Euros does this mean he should focus on avoiding forex issues and stick to Euro denominated funds?

Indeed, from Belgium, is he actually able to use a (familiar) UK broker or provider eg HL or Vanguard? Or are they Sterling only / UK residents only? [Vanguard have already told me that they are not open to private investors in Belgium, only via (some) institutions.]

He's already looked at EU-based / International brokers such as Interactive Brokers and DeGiro.

I see various ETFs, OEICs and Funds listed as being Euro denominated and/or Ireland (or Deutsche Borse, or Paris or whatever) based. Does he simply have to stick with these? I'd also note, however, that the ETFs available via DeGiro are limited in scope and number: there appears to be precious little access to Vanguard, for example.

Your advice on this appreciated: just need to get him going while being sensible about where he is putting his Euros and via which broker. Vanguard VWRL would seem a sensible place for him to start, but how best to do this?

Regards

GrahamPlatt
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Re: Choice of Broker (Belgium)/Access to World Trackers

#383023

Postby GrahamPlatt » February 2nd, 2021, 11:43 am


Redman
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Joined: February 1st, 2021, 6:33 am

Re: Choice of Broker (Belgium)/Access to World Trackers

#383028

Postby Redman » February 2nd, 2021, 11:49 am

Yes, the Expatica guides are quite good in terms of painting the broad bruish strokes needed - thanks.

Anyone familiar with more detail on Belgium / DeGiro / ING / Vanguard or other ETFs?

GrahamPlatt
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Re: Choice of Broker (Belgium)/Access to World Trackers

#383059

Postby GrahamPlatt » February 2nd, 2021, 1:31 pm

Looking deeper, I see that KeyTrade (the brokerage arm of KBC I think) gives prices for VWRL on four markets - London (£), Amsterdam & Milan (€) and Swiss (CHF).

gryffron
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Re: Choice of Broker (Belgium)/Access to World Trackers

#383381

Postby gryffron » February 3rd, 2021, 2:59 pm

A local broker is likely to be better if he is a Belgian taxpayer, as they will provide accounts and reporting tailored to local tax laws. I have no idea whether Belgium has any beneficial treatment for Pension investments, but most countries do, so local Pension laws are worth looking into.
OR
InteractiveInvestor (UK) will allow you to hold/trade/transfer euros directly in a non-ISA account. So if you can't find a Belgian based broker, and/or he is likely to return home at some time, then they could be an option to achieve what he wants.

Investing in euro denominated funds will save a tiny fraction in currency costs. But it's a fairly small amount, and certainly should not be the main driver for his investment decisions.

Gryff

GrahamPlatt
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Re: Choice of Broker (Belgium)/Access to World Trackers

#383415

Postby GrahamPlatt » February 3rd, 2021, 5:44 pm


Redman
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Re: Choice of Broker (Belgium)/Access to World Trackers

#383447

Postby Redman » February 3rd, 2021, 7:37 pm

Thanks all. While browsing in pursuit of the various suggestions here, I came to the Belgian FIRE site, which pretty much has everything covered. Lots here, also on tax and notification matters that I was largely unaware of.

https://www.reddit.com/r/BEFire/wiki/in ... =t3_cv7wwe

Think this thread can be considered closed!


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