@David I would like to use currencies to invest a portion of my investment into, in particular the Swiss Franc, Australian & Canadian dollar. How is that possible through T212.
Many thanks
I you are wanting to buy some currency to hold until the exchange rate goes in your favour.
Say you think the pound will go shit but it five years the CHF, AUD and CAD will be stronger.
I would open a Transferwise account and then buy that currency.
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Thanks Phil. I am more interested in holding strong currencies. Is that a CFD account? I do not find the possibility to trade Forex in my Trading212 Investment account.
Yeah the Invest is for Investments if you want CFD like Forex you’ll need to use that.
If you are new to trading then it’s def worth using the practice account first.
As mentioned it’s for day/swing trading so you need to know what you are doing otherwise you could nuke your funds.
If you want to actual hold the underlying asset for long periods then I would buy the actual currency.
Many thanks Phil. Your feedback was very valuable.
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Yes although beware that holding a Transferwise multi currency account for speculating on currencies is not allowed.
This is Condition 15.3 of their Ts&C’s:
You agree that you will not use our Services for speculative trading.
There is a similar thing for Revolut.