I am confused when it comes to ETFs. Many state that their main advantage is that they are low cost. I understand that they are traded as stocks. I want to invest my money in 3 index ETFs (USA, world and bonds) and split my monthly contribution of $200 in these 3 funds.
From my broker's page I see that every time I buy an ETF, I have to pay about a $10 commission as well as a $5 holding cost per month! Is this normal?
How is this supposed to be good investment since I'll be losing so much every month for commissions and holding fee? Am I missing something about ETFs? Is a one-time contribution the only way to avoid this?
Edit: just to mention that i am from a European country and it is not possible to use an US based broker.