Trust Bank users can now buy UK UCITS ETFs through the app from US$10 as the bank expands beyond US-listed investments.
The new offering gives customers access to Ireland-domiciled UCITS ETFs traded on the London Stock Exchange.
The funds offer exposure to diversified global portfolios and may be subject to lower dividend withholding tax for Singapore investors residing in Singapore than equivalent US-listed ETFs.
Trust Bank’s comparison indicates a 15% dividend withholding tax rate for Ireland-domiciled UCITS ETFs and 30% for US-listed ETFs, although individual tax treatment may vary.
Customers can make fractional investments from US$10 and set up recurring investments through TrustInvest’s AutoInvest feature.
The bank charges a commission of 0.05% per UK UCITS ETF trade, subject to a minimum fee of US$4.
It does not charge custody, platform or settlement fees.
The launch expands TrustInvest beyond mutual funds, US stocks and ETFs.
More than 30,000 customers have opened trading accounts on the platform since its launch.
Aditya Gupta, Chief Product Officer at Trust Bank, said,
“We’re building TrustInvest to make investing simpler, smarter and more accessible for everyone. Many young investors want to grow their wealth but are often held back by complexity, high costs or high minimum investment amounts.
By bringing UK UCITS ETFs into the Trust App, alongside fractional investing and AutoInvest, we’re making it easier for customers to start small, diversify globally and build long-term wealth with confidence.”
Featured image: Edited by Fintech News Singapore, based on image by user23413193 via Magnific
The post Trust Bank Now Offers UK UCITS ETF Investing From US$10 appeared first on Fintech Singapore.
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