Buying U.S Stocks in £ - Weak Dollar

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1

So I’m loading my T212 account in £s and buying U.S shares. The stocks themselves are doing well, but the weak dollar is killing my overall profit.

Is there a way around this, or an alternative broker, where I can deposit in £’s, convert to $ at no cost or very little cost?

I’m am buying some gold as a hedge against the weak dollar, and has a long term investor I’m hoping the dollar gets stronger again over time, but if anyone knows of any tricks or other ways to play the weak dollar issue then please post here. Thanks.

Thanks.

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2

T212 doesn’t charge for currency conversion? Well that’s at least my understanding. on the flip side your getting more bang for your buck if you plan on holding these stocks and exchange rate changes.

3

You are getting more shares as the $ gets weaker

Think of it in a long term mindset, when the $ regains then your profit will get bigger.

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4

You will get the same result at the end, because you will need to change your dollars back to pounds at some point (unless if you will keep your money in $ indefinitely).

Anyway, if that’s what you want, you can use Revolut trading.

5

Ive got a quistion regarding this too. Ive got some great investments that are in profit, but a few are over the buy price, yet there in loss. This is just a example of one of them.

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Im planning on holding for long term, and investing each month into a few stocks. I have my Account in Euro but i only invest in US stocks, is it worth closing my current positions, and re-start my account in US currency?

6

Re-post
I’m thinking if it’s worth changing my account currency for the long term.
Idc being in loss, im thinking more since im only going to be investing in US stocks, maybe changing my account currency to $ might just play out better in future

7

wont make a difference as you will still have to convert the currency when putting it in the account. :man_shrugging:

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8

T212 has one of best market FX rates, unless you use Revolut, i wouldn’t advise making exchange via bank or other financial institutions.

Ofc if your paycheck is in usd it makes sense to have usd account.

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9

When i made my account a year ago i was’nt thinking of this at the time. I live in Denmark and we use Kroner as our currency. Now my T212 account currency is in Euro and the stocks i invest in are US :speech_balloon:

10

I thought mb changing my account currency would be better as it would just be Danish kroner to USD / USD to Kroner

11

Anyways you don’t lose much on FX at T212. Question is how much do you lose converting Krone to Eur and if Krone > USD would be “cheaper” or less expensive. Otherwise it is more or less cosmetics.

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12

In that case it should be fine as it is.
Krone / Eur has almost been the same since almost 2013. Really stable rate.
0.13 Krone to eur

13

We are pretty much in same boat, I get Kuna, which is not currently accepted at T212. So I had to either choose Eur or Usd. I picked USD. But anyway using Revolut to get best conversion helps minimise FX loss. T212 has superb rates so I hope one day T212 offers debit account for whole Eurozone.

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14

Just a quistion so i get my head clear, lets just say my account “was” in US currency, would the investment (on the screenshot) be in positive if the account was in US instead of Euro?

15

It would be positive compared to USD, but if you would pull it out and convert to eur/krone it would be same result as current.

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16

Aight, just had a dive into a quick “learning” about currency. Idk why i havent looked into this before… never intrested me and still “young” lol. Any ways, i really appriciate you spending your time and helping me out here. Need more people like you! Cheers again

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