Hello T212,
I’ve seen there’s going to be a 0.15% FX fee in the coming month, and with this implementation I think it’s an important thing to start allowing Invest accounts to have different currencies in their account. This is mainly due to the dividends distributed now that the FX fee will be introduced.
When this isn’t the case, I as an EU based investor only investing in US stocks has to take a 0.15% fee when buying/selling the stocks (not that big of a deal, still better than most brokers when pie investing) but when I get my dividends distributed (the primary reason I use pie investing and your platform at all) it automatically gets translated back into Euro, after which the reinvestment also has to take the fee. I will therefore have to pay a fixed 0.3% when reinvesting dividends, which over a longer amount of time is quite substantial (my horizon is ~30/40 years).
I don’t think keeping it like this is a valid option for the long term when talking about competitiveness. If a different broker comes into the picture or a foreign entity expands into the EU covering this it will cause me to more easily switch to a different broker.
As you were already solvent without this fee I hope a feature like this will be implemented sooner rather than later, as I can see many leaving the platform due to this.
Kind regards,
spoe