Hello you very intelligent and amazing people. I truly hope you are having a good start to the week and doing well.
I was kindly wondering please i know some brokers charge FX fees to make transactions in USD (such as buying US stocks) if you have a GBP currency. I know there is lots of different sites to convert currency, does anyone have anything they recommend please or they have used which has low fees please? If anyone kindly had any thoughts on this i would be forever grateful and thankful.
Wishing you a wonderful week and i wish you all the best with your investing. Take care.
Conversion will be done on the fly within your account when you buy a non-GBP/GBX security. T212 charges a 0.15% mark-up which you’ll struggle to beat anywhere else except maybe IBKR for large transactions. T212 doesn’t yet allow clients to hold multiple currencies, so you’re not able to convert externally and add say USD to your GBP account. Hope that makes sense!
Thank you very much for your prompt reply topher that was really kind of you, i very much appreciate your response.
I was spending alot of time emailing different brokers about their FX charges and looking for good currency conversion services. I very much appreciate your support i will use Trading 212 and Interactive Brokers. I did find FreeTrade in the UK but they charge 0.45% FX fee which is quite expensive. I very much appreciate your support with this.
Wishing you a great day topher and thanks again for your amazing help. All the very best to you.