I am trading the US stock frequently. I understand that Trading 212 does not take a conversion fee. The problem with US stock is that the currency keep fluctuating and you might want to sell your stock when the exchange rate is not in your favour.
Is it possible to have a US$ cash account with trading 212, where in this case you just need to covert it from £ to US$ once and you could use / recycle your US$ cash account in trading 212 to buy US stock? Similarly, if you sell it, it will go to your US$ cash account. Is it possible to do this?? Is it possible to do this within ans ISA account ??
This has been discussed a lot. Trading 212 have said that they will work towards providing multicurrency accounts. However, it would be for invest accounts only, since HMRC does not allow non sterling currency in an ISA.
The one question I always ask is, how do you know at any moment that this is or is not the best time to exchange your USD for GBP? The rate is where it is because equal weight of opinion is for it to go either way. Am I better able to guess than the average of all the smart currency traders who make up the market? I do not think I could expect to make seriously better returns on my investments if a USD currency account were available to me. If I truly thought I possessed better knowledge as to when to convert my currency than the entire fx market, then I should be able to become a successful fx trader, no?
Well appreciated. Thanks for tyour Information