I am currently invested 50% between Interactive Brokers (US T-bills mostly) & 50% through HSBC Expat (Stock ETF).
Now HSBC Expat requires me to put too much money idling in low yielding savings accounts (or their typical banking financial products) if I don't want to pay USD50 per month in fees. Stock trading is also expensive at 20 pounds per trade. I am thinking of getting rid of them and consolidating all my financial investments through IB but I have two main concerns:
- Interactive Brokers is domiciled in Hong Kong - is there more risk to not be bailed out in case something major was to happen (e.g. financial system crash, regional politics)?
- IB is a broker. Is it less safe than HSBC Expat and HSBC UK where the investments are held as HSBC is a tier-1 bank?
What would you do?
Now HSBC Expat requires me to put too much money idling in low yielding savings accounts (or their typical banking financial products) if I don't want to pay USD50 per month in fees. Stock trading is also expensive at 20 pounds per trade. I am thinking of getting rid of them and consolidating all my financial investments through IB but I have two main concerns:
- Interactive Brokers is domiciled in Hong Kong - is there more risk to not be bailed out in case something major was to happen (e.g. financial system crash, regional politics)?
- IB is a broker. Is it less safe than HSBC Expat and HSBC UK where the investments are held as HSBC is a tier-1 bank?
What would you do?
Statistics: Posted by helloyou — Mon Aug 19, 2024 11:44 am — Replies 0 — Views 33