Internaxx or IB [Ex-pat in Spain]

For residents of Spain.
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trentfrog
Posts: 3
Joined: Mon Nov 30, 2015 12:29 pm

Internaxx or IB [Ex-pat in Spain]

Post by trentfrog »

Hi there

I hope this question isn’t too basic to ask but can anyone (Epecially a non-US citizen) tell me why you chose Interactive Brokers UK over Internaxx or Internaxx over Interactive Brokers UK? I am an expat living in Spain but want to use an online broker that operates in English where I can set up a global coach potato portfolio.


PS- I know IB is cheaper but I don’t like the chance of estate taxes on cash deposits in a US broker. I also heard that the IB platform is very difficult to use and the customer service is very bad.
Deats1980
Posts: 15
Joined: Thu May 03, 2018 8:57 am

Re: Internaxx or IB [Ex-pat in Spain]

Post by Deats1980 »

trentfrog wrote: Wed May 23, 2018 10:49 am I know IB is cheaper but I don’t like the chance of estate taxes on cash deposits in a US broker. I also heard that the IB platform is very difficult to use and the customer service is very bad.
As a UK expat living in China, this is essentially the reason why I will be choosing Internaxx. Having said that, I will actually be using multiple brokers in due course, as Internaxx is only insured up to 100,000Euro if anything does go wrong. One of those brokers may be IB, but that is something I have to decide upon next year.

One poster mentioned Brits *may not have the $60,000 inheritance tax law applied to them. It may be $11m, but until I know this for sure, I am unwilling to take that risk.

This link may help: viewtopic.php?f=1&t=248615
michaelotal
Posts: 37
Joined: Thu Mar 05, 2015 2:39 am

Re: Internaxx or IB [Ex-pat in Spain]

Post by michaelotal »

I researched into this recently. I am living in Spain and didn't want to use Interactive Brokers. I took the view that DEGIRO was the most appealing of the alternatives. There is an English-language option on its platform.
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