So far from my research I have estimated costs, ignoring fluctuations in foreign currency exchange, for a trade profit of < $9,000, held for less than 1 year as:
- US capital gains tax 10% of profit from sale
- broker transaction fee ~£10
- broker account fees < £100 (account opening)
- broker currency exchange fee of ~1.5%
Am I missing any major costs? Are my estimates accurate?