At the beginning of December, Internaxx sent an email to its investors.
Before long, my inbox filled with questions of concern: Why is Internaxx increasing our fees?
Internaxx (formerly TD Direct International) is a popular brokerage among expatriates.
Fortunately, they haven’t increased fees for ETF investors.
Here’s what the email said:
“From 1st January 2018, we’ll also be changing our fund pricing to make it more transparent. We’ll charge a quarterly fund administration fee of 0.1%…
ETF Investors are concerned, believing this would amount to an annual account fee of 0.4 percent per year. But this isn’t the case.
Internaxx isn’t changing its fee structure for investors who hold ETFs or individual stocks.
When Internaxx refers to “funds” the company is referring to mutual funds (unit trusts) but not ETFs (exchange-traded funds) or stocks.
So, breathe easily, ETF investors: Internaxx is not planning to make your investing more expensive.